MIRA
INFORM REPORT
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Report No. : |
306935 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALLIED MEDIA NETWORK PRIVATE LIMITED (w.e.f.21.01.2008) |
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Formerly Known
As : |
ALLIED MEDIA 360 DEGREE SOLUTIONS PRIVATE LIMITED (w.e.f.28.08.2007) ALLIED MEDIA INTEGRATED COMMUNICATIONS PRIVATE LIMITED
(w.e.f.03.05.2007) PERCEPT BEYOND PRIVATE LIMITED |
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Registered
Office : |
22, Percept House, 11/12 S.B. Marg, Lower Parel, Mumbai – 400013, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
14.09.2006 |
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Com. Reg. No.: |
11-164568 |
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Capital Investment
/ Paid-up Capital : |
Rs. 6.090
Millions |
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CIN No.: [Company Identification
No.] |
U92413MH2006PTC164568 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP23595F |
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PAN No.: [Permanent Account No.] |
AADCP9975H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Advertising Services. |
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No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “PERCEPT LIMITED”. It is an established
company having moderate track record. Management has failed “Form 20B” depicting annual return for FY14, whereas
failed to file any other documents with the statutory authorities. As per available, the company possesses an acceptable financial
profile marked by adequate networth base along with moderate working capital
intensive nature of its operations. Management has reported a dip in its
sales volume as well as has recorded a loss from its operations during FY13. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of well experienced management and various certifications
awarded to the subject, it can be considered for business dealings with some
caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Jitendra Vichare |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-22-30448070 |
|
Date : |
06.02.2015 |
LOCATIONS
|
Registered/ Head Office : |
22, Percept House, 11/12 S.B. Marg, Lower Parel, Mumbai – 400013,
Maharashtra, India |
|
Tel. No.: |
91-22-30448070/30448400 |
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Fax No.: |
91-22-24911281 |
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E-Mail : |
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Website : |
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Branch Office : |
Percept House 1 and 2, Sant Nagar, East of Kailash, New Delhi – 110065, India |
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Branch Offices : |
Located at: · Bangalore |
DIRECTORS
As on: 25.09.2014
|
Name : |
Mr. Paresh Amritlal Vasa |
|
Designation : |
Additional director |
|
Address : |
203, Dun Apartments, J D Road, Tardeo, Mumbai 400007, Maharashtra, India |
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Date of Birth/Age : |
14.02.1961 |
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Date of Appointment : |
27.03.2014 |
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DIN No.: |
02182429 |
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Name : |
Mr. Ram Krishan Om Namo Chaturvedi |
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Designation : |
Director |
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Address : |
B2601, Ekta Meadows, Siddharth Nagar, Barivali (East), Mumbai –
400066, Maharashtra, India |
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Date of Birth/Age : |
06.02.1968 |
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Date of Appointment : |
14.09.2006 |
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PAN No.: |
AASPC8938P |
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DIN No.: |
00032728 |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra Vichare |
|
Designation : |
Senior Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ram Krishan Om Namo Chaturvedi |
|
1 |
|
Percept Limited, India |
|
608999 |
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|
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|
Total |
|
609000 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.09.2014
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Advertising Services. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and Others
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No. of Employees : |
80 (Approximately) |
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Bankers : |
New India Co-Op Bank Limited, Centralized Credit Department, Temple View-1,
Raheja Township, Malad (E), Mumbai--400097, Maharashtra, India
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Facilities : |
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Auditors : |
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Name : |
Patkar and Pendse Chartered Accountants |
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Address : |
9 and 204, Chartered House, 297/298, Dr. Casawji Hormasji
Street, Marine Lines, Mumbai – 400002, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFP2081Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
·
Percept Limited [U92120MH2002PLC135806] |
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Subsidiary company : |
·
Dynamic Advertising and Research Team Private
Limited [U74300MH1978PTC020453] PH Media Services Private
Limited [U22222MH2010PTC208457] |
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Other Related Parties : |
·
P 9 Integrated Private Limited
[U55101MH2003PTC142002] Percept D Mark (India ) Private
Limited [U74300MH1999PTC120075] Percept Out Of Home Private
Limited [U72300MH1994PTC081292] Percept Talent Management
Private Limited [U74140MH2007PTC166780] Percept Profile Private Limited
[U91120MH1995PTC094469] |
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Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
·
A M O Communications Private Limited
[U74300MH2000PTC128320] Hakuhodo Percept Private
Limited [U74300MH1997PTC107576] IBD India Private Limited
[U74300MH1987PTC150433] Image Ads Communications Private
Limited PK Online Ventures Private
Limited [U72900MH2007PTC173502] Mash Advertising Private
Limited [U74300MH2000PTC126742] Media Agency Middle East
Consultants Percept Advertising Limited
[U74300MH1995PLC094070] Percept Finserve Private
Limited [U65920MH1995PTC086911] Percept H Private Limited
[U92199MH2001PTC132644] Percept Holdings Private
Limited [U84815MH1995PTC084815] SNS Hospitality and
Entertainment Private Limited [U92490MH2011PTC219125] |
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
609,000 |
Equity Shares |
Rs.10/- each |
Rs. 6.090
Millions |
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|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
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|
|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
6.090 |
6.090 |
0.100 |
|
(b) Reserves & Surplus |
106.332 |
120.509 |
47.645 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
59.900 |
|
Total
Shareholders’ Funds (1) + (2) |
112.422 |
126.599 |
107.645 |
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|
|
|
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(3)
Non-Current Liabilities |
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|
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|
(a) long-term borrowings |
0.000 |
9.333 |
58.896 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
|
1.135 |
|
(c) Other long
term liabilities |
0.000 |
3.855 |
0.000 |
|
(d) long-term
provisions |
5.490 |
0.000 |
2.068 |
|
Total Non-current
Liabilities (3) |
5.490 |
13.188 |
62.099 |
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(4) Current
Liabilities |
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(a)
Short term borrowings |
201.315 |
147.149 |
126.325 |
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(b)
Trade payables |
1002.853 |
986.231 |
987.113 |
|
(c)
Other current liabilities |
43.246 |
50.340 |
60.696 |
|
(d) Short-term
provisions |
0.530 |
0.455 |
1.012 |
|
Total Current
Liabilities (4) |
1247.944 |
1184.175 |
1175.146 |
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TOTAL |
1365.856 |
1323.962 |
1344.890 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a)
Fixed Assets |
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|
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(i)
Tangible assets |
7.443 |
8.514 |
8.927 |
|
(ii)
Intangible Assets |
5.607 |
8.334 |
9.696 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.154 |
4.154 |
4.150 |
|
(c) Deferred tax assets (net) |
1.935 |
(0.656) |
0.000 |
|
(d) Long-term Loan and Advances |
114.891 |
136.613 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
1.092 |
|
Total Non-Current
Assets |
134.030 |
156.959 |
23.865 |
|
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(2)
Current assets |
|
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|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
872.886 |
836.267 |
903.362 |
|
(d) Cash
and cash equivalents |
60.722 |
32.810 |
44.487 |
|
(e) Short-term
loans and advances |
232.765 |
224.078 |
286.520 |
|
(f)
Other current assets |
65.453 |
73.848 |
86.656 |
|
Total
Current Assets |
1231.826 |
1167.003 |
1321.025 |
|
|
|
|
|
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TOTAL |
1365.856 |
1323.962 |
1344.890 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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|
SALES |
|
|
|
|
|
|
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Revenue from Operations |
3689.008 |
4351.278 |
3539.482 |
|
|
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Other Income |
5.192 |
2.303 |
0.000 |
|
|
|
TOTAL (A) |
3694.200 |
4353.581 |
3539.482 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Services rendered |
3549.377 |
4162.310 |
3419.275 |
|
|
|
Employees benefits expense |
86.761 |
79.028 |
54.682 |
|
|
|
Other expenses |
52.856 |
63.037 |
36.091 |
|
|
|
TOTAL (B) |
3688.994 |
4304.375 |
3510.048 |
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|
|
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Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.206 |
49.206 |
29.434 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.865 |
15.890 |
4.984 |
|
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|
|
|
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|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(11.659) |
33.316 |
24.450 |
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.109 |
4.840 |
3.983 |
|
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|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(16.768) |
28.476 |
20.467 |
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|
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|
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Less |
TAX (H) |
(2.591) |
9.522 |
8.226 |
|
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|
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|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(14.177) |
18.954 |
12.241 |
|
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|
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|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
2.029 |
4.102 |
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|
|
Earnings/ (Loss)
Per Share (Rs.) |
(23.00) |
202.00 |
1224.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(0.38) |
0.44 |
0.35 |
|
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|
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|
Operating Profit Margin (PBIDT/Sales) |
(%) |
0.14 |
1.13 |
0.83 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.23) |
2.16 |
1.53 |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
(0.15) |
0.22 |
0.19 |
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|
Debt Equity Ratio (Total Debt /Networth) |
|
1.79 |
1.24 |
1.72 |
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|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
0.99 |
1.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.100 |
6.090 |
6.090 |
|
Reserves & Surplus |
47.645 |
120.509 |
106.332 |
|
Share Application money pending allotment |
59.900 |
0.000 |
0.000 |
|
Net
worth |
107.645 |
126.599 |
112.422 |
|
|
|
|
|
|
long-term borrowings |
58.896 |
9.333 |
0.000 |
|
Short term borrowings |
126.325 |
147.149 |
201.315 |
|
Total
borrowings |
185.221 |
156.482 |
201.315 |
|
Debt/Equity ratio |
1.721 |
1.236 |
1.791 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3539.482 |
4351.278 |
3689.008 |
|
|
|
22.935 |
(15.220) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3539.482 |
4351.278 |
3689.008 |
|
Profit/ (Loss) |
12.241 |
18.954 |
(14.177) |
|
|
0.35% |
0.44% |
(0.38%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
9.333 |
16.000 |
0.000 |
|
|
|
|
|
|
Total |
9.333 |
16.000 |
0.000 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
131.949 |
107.149 |
|
|
|
|
|
Total |
131.949 |
107.149 |
BACKGROUND
Subject is an unlisted company engaged in advertising services.
It was incorporated on 14th Sept, 2006 under the Companies Act, 1956 and has
its registered office in Mumbai.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10537992 |
12/12/2014 |
170,000,000.00 |
NEW INDIA CO-OP BANK LIMITED |
Centralized Credit Department, Temple View - 1, Raheja Township, Malad
(E), Mumbai, Maharashtra - 400097, India |
C37708484 |
|
2 |
10249768 |
16/01/2013 * |
188,700,000.00 |
YES BANK LIMITED |
9th Floor, Nehru Centre, Discovery Of India,, Dr. Annie Besant
Road, Worli,, Mumbai-400018, Maharashtra, India |
B68475656 |
* Date of charge modification
FIXED ASSETS:
· Furniture and fixtures
Office
equipment
Other
equipments
Computer
software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Information Gathered
by : |
DPA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.