MIRA
INFORM REPORT
|
Report No. : |
305399.2 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
HINDPRAKASH TRADELINK PRIVATE LIMITED (w.e.f.13.04.2007) |
|
|
|
|
Formerly Known
As : |
SUMANGAL TRADELINK PRIVATE LIMITED |
|
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Registered
Office : |
101, ‘Hindprakash’ House, Plot No.10/6, Phase-I, GIDC, Vatva,
Ahmedabad-382445, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
28.01.2003 |
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|
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|
Com. Reg. No.: |
04-041910 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 89.342 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909GJ2003PTC041910 |
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|
IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAGCS9494R |
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|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Trader, Exporter and Importer of Chemicals and dyes and dyes
intermediates |
|
|
|
|
No. of Employees
: |
54 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 930000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company has reported low profitability during 2014. However, the company seems to be in a decent position. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings with usual
business terms and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
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 : |
Mrs. Hetal Shah |
|
Designation : |
Account and Finance Head |
|
Contact No.: |
91-79-39827000 |
|
Date : |
30.01.2015 |
LOCATIONS
|
Registered Office : |
101, ‘Hindprakash’ House, Plot No.10/6, Phase-I, GIDC, Vatva,
Ahmedabad-382445, Gujarat, India |
|
Tel. No.: |
91-79-39827000 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Santosh N. Nambiar |
|
Designation : |
Director |
|
Address : |
C-001, Shagun Jyotee, B/H Dhanajay Tower, 100 Ft Road, Shyamal # Road,
Settelite, Ahmedabad-380015, Gujarat, India
|
|
Date of Birth/Age : |
17.10.1970 |
|
Date of Appointment : |
28.01.2003 |
|
DIN No.: |
00144542 |
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PAN No.: |
ABDPN6872B |
|
|
|
|
Name : |
Mr. Sanjayprakash Omprakash Mangal |
|
Designation : |
Director |
|
Address : |
201, Shree Radey Apartments Opposite Atlanta Tower , Gulbai Tekra,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
15.05.1972 |
|
Date of Appointment : |
09.11.2011 |
|
DIN No.: |
02825484 |
|
PAN No.: |
ACJPM2990A |
KEY EXECUTIVES
|
Name : |
Mrs. Hetal Shah |
|
Designation : |
Account and Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
92.05 |
|
Other top fifty shareholders |
7.95 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Chemicals and dyes and dyes
intermediates |
|
|
|
|
Products : |
·
Chemicals and dyes ·
Dyes Intermediates |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
·
Chemicals and dyes ·
Dyes Intermediates |
|
Countries : |
·
Indonesia ·
Pakistan ·
Mexico ·
Bangladesh |
|
|
|
|
Imports : |
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|
Products : |
·
Chemicals and dyes ·
Dyes Intermediates |
|
Countries : |
·
China ·
Hong Kong ·
Germany |
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|
|
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Terms : |
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Selling : |
Cash, Advance Payment and Credit |
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Purchasing : |
Cash, Advance Payment and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers, End Users
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No. of Employees : |
54 (Approximately) |
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Bankers : |
·
Syndicate Bank
(Consolidated Facility ·
Central Bank |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
Kedia and Kedia Associates |
|
Address : |
205, Kaling, Near Mount Carme L School, Ashram Road, Ahmedabad – 380009, Gujarat, India |
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PAN No.: |
AABFK7236R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Relatives of Key management personnel : |
· Lotus Corporation · Karnavati Enterprise ·
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|
|
|
|
Others : |
· Shirshak Enterprises Private Limited CIN No.: U24297GJ1995PTC026673 · Hindprakash Lonsen Industries Private Limited CIN No.: U24100GJ2008PTC055401 · Hindprakash Overseas Private Limited CIN No.: U24110GJ2008PTC053241 · Hindprakash International Private Limited CIN No.: U51909GJ2003PTC041909 · Hindprakash Exim Private Limited CIN No.: U51500GJ1995PTC028381 · Hindprakash (Singapore) Pte Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19800000 |
Equity Shares |
Rs.10/- each |
Rs.198.000 Millions |
|
200000 |
Preference Shares |
Rs.10/- each |
Rs.2.000 Millions |
|
|
Total |
|
Rs.200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8794200 |
Equity Shares |
Rs.10/- each |
Rs.87.942
Millions |
|
140000 |
Preference Shares |
Rs.10/- each |
Rs.1.400
Millions |
|
|
Total |
|
Rs.89.342 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
89.342 |
89.342 |
89.342 |
|
(b) Reserves & Surplus |
150.293 |
123.947 |
111.931 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
86.852 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
326.487 |
213.289 |
201.273 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8.500 |
29.978 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
1.508 |
2.466 |
1.958 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.892 |
0.496 |
0.654 |
|
Total Non-current Liabilities (3) |
11.900 |
32.940 |
2.612 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
167.968 |
210.267 |
73.096 |
|
(b) Trade payables |
705.418 |
151.103 |
216.000 |
|
(c) Other current
liabilities |
19.118 |
2.229 |
9.196 |
|
(d) Short-term provisions |
7.151 |
5.999 |
3.970 |
|
Total Current Liabilities (4) |
899.655 |
369.598 |
302.262 |
|
|
|
|
|
|
TOTAL |
1238.042 |
615.827 |
506.147 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
48.968 |
53.895 |
55.166 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.139 |
0.050 |
0.061 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.624 |
3.197 |
0.014 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.446 |
0.683 |
2.432 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
52.177 |
57.825 |
57.673 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
168.623 |
67.408 |
36.756 |
|
(c) Trade receivables |
929.043 |
406.766 |
357.140 |
|
(d) Cash and cash
equivalents |
34.874 |
65.975 |
17.992 |
|
(e) Short-term loans and
advances |
53.325 |
17.853 |
36.586 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1185.865 |
558.002 |
448.474 |
|
|
|
|
|
|
TOTAL |
1238.042 |
615.827 |
506.147 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3133.610 |
1687.528 |
|
|
|
|
Other Income |
8.939 |
5.333 |
|
|
|
|
TOTAL (A) |
3142.549 |
1692.861 |
1164.221 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
3104.699 |
1660.015 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(101.215) |
(30.674) |
|
|
|
|
Employees benefits expense |
10.449 |
4.273 |
|
|
|
|
Other expenses |
34.443 |
10.225 |
|
|
|
|
TOTAL (B) |
3048.376 |
1643.839 |
1146.988 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
94.173 |
49.022 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
52.858 |
26.493 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
41.315 |
22.529 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
1.425 |
1.484 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
39.890 |
21.045 |
17.233 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.470 |
6.956 |
4.675 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
28.420 |
14.089 |
12.558 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Equity Shares |
N.A |
1.759 |
1.759 |
|
|
|
Proposed Dividend on Preference Shares @ 1% |
N.A |
0.014 |
0.014 |
|
|
|
Tax on Proposed Dividend |
N.A |
0.301 |
0.286 |
|
|
BALANCE CARRIED
TO THE B/S |
N.A |
13.015 |
10.499 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
N.A |
Nil |
216.996 |
|
|
TOTAL EARNINGS |
N.A |
Nil
|
216.996 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
3.23 |
1.60 |
1.41 |
|
|
|
Diluted |
3.10 |
1.60 |
1.41 |
|
Expected Sales (2014-15) : Rs.3900.000 Millions
The above information has been parted by Mrs. Hetal Shah (Account and
Finance Head)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Revenue) |
(%) |
0.91 |
0.83 |
1.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.01 |
2.90 |
N.A |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.23 |
3.44 |
3.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.10 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.54 |
1.13 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.51 |
1.48 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
89.342 |
89.342 |
89.342 |
|
Reserves & Surplus |
111.931 |
123.947 |
150.293 |
|
Share Application money pending
allotment |
86.852 |
0.000 |
0.000 |
|
Net
worth |
288.125 |
213.289 |
239.635 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
29.978 |
8.500 |
|
Short term borrowings |
73.096 |
210.267 |
167.968 |
|
Total
borrowings |
73.096 |
240.245 |
176.468 |
|
Debt/Equity
ratio |
0.254 |
1.126 |
0.736 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1164.221 |
1687.528 |
3133.610 |
|
|
|
44.949 |
85.692 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1164.221 |
1687.528 |
3133.610 |
|
Profit |
12.558 |
14.089 |
28.420 |
|
|
1.08% |
0.83% |
0.91% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
(Rs.
In Millions)
|
UNSECURED LOAN |
As
on 31.03.2013 |
As
on 31.03.2013 |
|
Short Term
Borrowing |
|
|
|
Loans repayable on demand from others |
N.A |
29.979 |
|
Total |
N.A |
29.979 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10415697 |
08/01/2015 * |
650,000,000.00 |
PNB INVESTMENT SERVICES LIMITED |
10, Rakesh Deep Building,, Yusuf Sarai Commercial |
C40527574 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
·
Computer equipments
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.61.73 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.78 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUC |
|
|
|
|
Analysis Done by
: |
SVA |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.