MIRA
INFORM REPORT
|
Report No. : |
305387 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
JILLMILL NON-WOVEN PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 102, First Floor, J.B Market, Ring Road, Surat – 395002,
Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.10.2011 |
|
|
|
|
Com. Reg. No.: |
04-067413 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120GJ2011PTC067413 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of PP Spun Bonded Nonwoven Fabrics. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 133000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profitability of the company is low. However, trade relations are improving.
Business is active. Payment terms are reported to be slow. The company can be considered for business dealings with caution. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating: “B+” |
|
Rating Explanation |
Risk prone credit quality and very high
credit risk. |
|
Date |
December, 2013 |
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. Kunal Jain |
|
Designation : |
Manager |
|
Contact No.: |
91-7405539244 |
|
Date : |
31.01.2015 |
LOCATIONS
|
Registered / Corporate Office : |
Office No. 102, First Floor, J.B Market, Ring Road, Surat – 395002,
Gujarat, India |
|
Tel. No.: |
91-740-5539244 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
1500 Sq.Ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Block No. 542/1, NH – 8, Mahuvej Chokdi, Taluka – Mangrol, District,
Surat, Gujarat, India |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
3 and 4 Sonal Industrial Estate, Lane 2, |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Rajendra Sohanlal Jain |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
B/2, Tara Jayant Apartment, |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.05.1973 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
11.10.2011 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00356361 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mahavirchand Poonamchand Daga |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
301, Prem Kutir, jain Darshan Marg, Santacruz (West), Mumbai – 400054,
|
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.08.1968 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.02.2012 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
05134171 |
||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Kunal Jain |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Dharmesh Manekchand Jain |
325000 |
|
Rajendra Sohanlal Jain |
405000 |
|
Ruchita Dharmesh Jain |
379900 |
|
Manekchand Jain |
396000 |
|
Mahavirchand Poonamchand Daga |
940000 |
|
Nishant Mahavirchand Daga |
200000 |
|
Mohinidevi Daga |
100000 |
|
Vimalkumar Daga |
100000 |
|
Rajeshwari Daga |
100000 |
|
Zaverilal Jain |
23900 |
|
Ajay Jagdishchandra Shah (Firm) |
15000 |
|
Ajay Shah - Firm |
10000 |
|
Ajay Jagdishchandra Shah |
5000 |
|
Surendrakumar Mahalchand Golchha |
100 |
|
Jitendrakumar Mahalchand Golchha |
100 |
|
Anil M Patwari |
2000000 |
|
Aradhana Patwari |
2000000 |
|
Total |
7000000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
42.00 |
|
Other top fifty shareholders |
58.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PP Spun Bonded Nonwoven Fabrics. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
-- |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Retailers, OEMs, Manufacturer and End Users
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Kotak Mahindra Bank |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
Auditors : |
|
|
Name : |
Agarwal Robin and Company Chartered Accountants |
|
Address : |
5027, Trade House, Opposite Fire Brigade, Ring Road, Surat – 395002, Gujarat, India |
|
Tel. No. : |
91-261-3064771/ 3015836 |
|
Income-tax
PAN of auditor or auditor's firm : |
AGWPA1618C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued and Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
2000000 |
Equity Shares |
Rs.9/- each |
Rs. 18.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 68.000
Millions |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 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 |
30.000 |
30.000 |
7.800 |
|
(b) Reserves & Surplus |
16.449 |
14.344 |
14.700 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
7.010 |
|
Total
Shareholders’ Funds (1) + (2) |
46.449 |
44.344 |
29.510 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
47.123 |
53.535 |
2.033 |
|
(b) Deferred tax liabilities (Net) |
0.590 |
0.538 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
47.713 |
54.073 |
2.033 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
40.149 |
29.723 |
0.000 |
|
(b) Trade payables |
32.853 |
13.090 |
0.071 |
|
(c) Other current
liabilities |
8.345 |
8.178 |
0.065 |
|
(d) Short-term provisions |
0.159 |
5.281 |
0.000 |
|
Total Current Liabilities (4) |
81.506 |
56.272 |
0.136 |
|
|
|
|
|
|
TOTAL |
175.668 |
154.689 |
31.679 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
87.069 |
91.053 |
15.655 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.934 |
4.461 |
0.360 |
|
(e) Other Non-current assets |
1.463 |
1.501 |
0.196 |
|
Total Non-Current Assets |
91.466 |
97.015 |
16.211 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
41.638 |
20.968 |
0.000 |
|
(c) Trade receivables |
36.720 |
27.913 |
0.000 |
|
(d) Cash and cash
equivalents |
2.868 |
3.241 |
4.368 |
|
(e) Short-term loans and
advances |
0.799 |
0.244 |
11.100 |
|
(f) Other current assets |
2.177 |
5.308 |
0.000 |
|
Total Current Assets |
84.202 |
57.674 |
15.468 |
|
|
|
|
|
|
TOTAL |
175.668 |
154.689 |
31.679 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
225.971 |
97.705 |
|
|
|
Other Income |
|
0.395 |
0.277 |
|
|
|
TOTAL |
|
226.366 |
97.982 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
223.676 |
97.751 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
2.690 |
0.231 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.585 |
0.587 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
2.105 |
(0.356) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
0.027 |
0.000 |
|
|
TOTAL IMPORTS |
|
0.027 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
0.70 |
(0.12) |
|
Expected Sales (2014-2015): Rs. 300.000 Millions
The above information has been parted by Mr. Kunal Jain.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.93 |
(0.36) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets}) |
(%) |
1.53 |
0.15 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.01 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.88 |
1.88 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
1.02 |
113.74 |
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 |
7.800 |
30.000 |
30.000 |
|
Reserves & Surplus |
14.700 |
14.344 |
16.449 |
|
Share Application money
pending allotment |
7.010 |
0.000 |
0.000 |
|
Net
worth |
29.510 |
44.344 |
46.449 |
|
|
|
|
|
|
long-term borrowings |
2.033 |
53.535 |
47.123 |
|
Short term borrowings |
0.000 |
29.723 |
40.149 |
|
Total
borrowings |
2.033 |
83.258 |
87.272 |
|
Debt/Equity
ratio |
0.069 |
1.878 |
1.879 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
97.705 |
225.971 |
|
|
|
131.279 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
97.705 |
225.971 |
|
Profit |
(0.356) |
2.105 |
|
|
(0.36%) |
0.93% |
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 |
Yes |
|
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
No |
|
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10356612 |
17/05/2014 * |
267,900,000.00 |
BANK OF BARODA |
PANDESARA INDUSTRIAL
ESTATE, NEAR FIRE STATION, |
C08868705 |
|
2 |
10356614 |
04/05/2012 |
75,400,000.00 |
BANK OF BARODA |
PANDESARA
INDUSTRIAL ESTATE, NEAR FIRE STATION, |
B39947767 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
Form Shareholders and their Relatives |
32.352 |
27.566 |
|
Total |
32.352 |
27.566 |
FIXED ASSETS
TANGIBLE ASSETS
· Land
Building
Car
Computer
Furniture
Plant
and Machinery
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 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 : |
PPT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.