MIRA INFORM REPORT
|
Report No. : |
308134 |
|
Report Date : |
14.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
MI TORICA INDIA LIMITED |
|
|
|
|
Registered
Office : |
B-64/1, Wazirpur Industrial Area, Delhi - 110052 |
|
|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
|
|
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|
Date of
Incorporation : |
16.08.2011 |
|
|
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Com. Reg. No.: |
55-223728 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.90.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL2011PLC223728 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM20207F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCMA136B |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trading of Engineering Plastic Resin. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 250000 |
|
|
|
|
Status : |
Moderate |
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|
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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 moderate track record. There seems accumulated loss recorded by the company during 2014. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company 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.
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 |
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 DECLINED
MANAGEMENT NON – COOPERATIVE (91-124-2290693)
LOCATIONS
|
Registered Office : |
B-64/1, Wazirpur Industrial Area, Delhi – 110052, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 26.05.2014
|
Name : |
Mr. Nitesh Kumar Minda |
|
Designation : |
Managing director |
|
Address : |
8, Harsh Vihar, Pitampura, Delhi – 110034, India |
|
Date of Birth/Age : |
01.07.1982 |
|
Date of Appointment : |
05.09.2011 |
|
DIN No.: |
00408023 |
|
PAN No.: |
AJEPM6743K |
|
|
|
|
Name : |
Mr. Vikash Jain |
|
Designation : |
Director |
|
Address : |
C-6272, Yamuna Vihar, Delhi 110053, India |
|
Date of Birth/Age : |
07.07.1969 |
|
Date of Appointment : |
12.07.2013 |
|
DIN No.: |
01510085 |
|
|
|
|
Name : |
Mr. Yashushi Mizutani |
|
Designation : |
Whole-time director |
|
Address : |
Glorious Iwakura 202, 69-2, Nishideguchi, Nakahon-Machi,
Iwakura-shi, Aichi-Ken, Japan |
|
Date of Birth/Age : |
21.08.1952 |
|
Date of Appointment : |
16.08.2011 |
|
DIN No.: |
03552866 |
|
|
|
|
Name : |
Mr. Nobuyoshi Mizutani |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
750-2, Fukue, Kaizu-Cho, Kaizu-Shi, Gifu-5030628, Japan |
|
Date of Birth/Age : |
19.03.1952 |
|
Date of Appointment : |
24.02.2012 |
|
DIN No.: |
05188693 |
|
|
|
|
Name : |
Mr. Sunil Kumar Shrivastava |
|
Designation : |
Whole-time director |
|
Address : |
CW-41, FF. Milibu Towne, Gurgaon Sohna Road, Gurgaon – 122001,
Haryana, India |
|
Date of Birth/Age : |
23.07.1968 |
|
Date of Appointment : |
12.07.2013 |
|
DIN No.: |
06590956 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.05.2014
|
Names of Shareholders |
|
No. of Shares |
|
Nirmal Kumar Minda |
|
799400 |
|
Ashok Kumar Goel |
|
100 |
|
Sudhir Jain |
|
100 |
|
Nitesh Kumar mInda |
|
100 |
|
Harish Chandra Dhamija |
|
100 |
|
Brijesh Kumar Saini |
|
100 |
|
Praveen Juneja |
|
100 |
|
Tokairika Create Corporation, Japan |
|
3600000 |
|
Minda Finance Limited, India |
|
1250000 |
|
Minda Investments Limited, India |
|
1650000 |
|
Pioneer Finest Limited, India |
|
1700000 |
|
Total |
|
9000000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.05.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
40.00 |
|
Bodies corporate |
51.12 |
|
Other top fifty shareholders |
8.88 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Engineering Plastic Resin. |
|
|
|
|
Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
|
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
ICICI bank limited, Landmarkrace Cource Circle, Alkapuri,
Baroda - 390015, Gujarat, India |
||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
R. N. Saraf and Company Chartered Accountants |
|
Address : |
2 6 5 9 / 2, Gurdwara Road, Karol Bagh, New Delhi- 110005, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AATPS5918C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Joint venture: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs. 90.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs. 90.000 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 |
90.000 |
75.000 |
50.000 |
|
(b) Reserves & Surplus |
(3.365) |
(7.519) |
(3.152) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
86.635 |
67.481 |
46.848 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.807 |
0.300 |
0.670 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.431 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
2.238 |
0.300 |
0.670 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
86.580 |
68.284 |
0.000 |
|
(b) Trade payables |
164.914 |
135.634 |
15.619 |
|
(c) Other current liabilities |
4.777 |
2.230 |
2.055 |
|
(d) Short-term provisions |
0.030 |
0.299 |
0.000 |
|
Total
Current Liabilities (4) |
256.301 |
206.447 |
17.674 |
|
|
|
|
|
|
TOTAL |
345.174 |
274.228 |
65.192 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.324 |
3.121 |
3.360 |
|
(ii) Intangible Assets |
0.414 |
0.827 |
1.241 |
|
(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) |
2.127 |
3.290 |
1.868 |
|
(d) Long-term Loan and Advances |
0.963 |
0.963 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
7.828 |
8.201 |
6.469 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
110.939 |
83.158 |
10.894 |
|
(c) Trade receivables |
184.107 |
137.574 |
8.813 |
|
(d) Cash and cash equivalents |
30.638 |
41.868 |
37.456 |
|
(e) Short-term loans and
advances |
0.800 |
1.087 |
1.347 |
|
(f) Other current assets |
10.862 |
2.340 |
0.213 |
|
Total
Current Assets |
337.346 |
266.027 |
58.723 |
|
|
|
|
|
|
TOTAL |
345.174 |
274.228 |
65.192 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
893.152 |
388.755 |
8.306 |
|
|
Other Income |
3.954 |
2.701 |
0.814 |
|
|
TOTAL
(A) |
897.106 |
391.456 |
9.120 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
872.498 |
439.529 |
18.332 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(27.781) |
(72.265) |
(10.894) |
|
|
Employees benefits expense |
11.088 |
9.459 |
2.064 |
|
|
Other expenses |
20.898 |
12.358 |
3.309 |
|
|
Extraordinary items |
0.000 |
0.000 |
0.399 |
|
|
TOTAL
(B) |
876.703 |
389.081 |
13.210 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
20.403 |
2.375 |
-4.090 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.359 |
7.401 |
0.075 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.044 |
-5.026 |
-4.165 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.847 |
0.763 |
0.854 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
6.197 |
(5.789) |
(5.019) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
2.042 |
(1.422) |
(1.868) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
4.155 |
(4.367) |
(3.151) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Stock In Trade |
14.819 |
182.107 |
NA |
|
|
TOTAL
IMPORTS |
14.819 |
182.107 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.50 |
(0.67) |
(2.54) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.47 |
(1.12) |
(37.94) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.28 |
0.61 |
(49.24) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.81 |
(2.14) |
(7.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
(0.09) |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.01 |
1.02 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.29 |
3.32 |
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 |
50.000 |
75.000 |
90.000 |
|
Reserves & Surplus |
(3.152) |
(7.519) |
(3.365) |
|
Net
worth |
46.848 |
67.481 |
86.635 |
|
|
|
|
|
|
long-term borrowings |
0.670 |
0.300 |
0.807 |
|
Short term borrowings |
0.000 |
68.284 |
86.580 |
|
Total
borrowings |
0.670 |
68.584 |
87.387 |
|
Debt/Equity
ratio |
0.014 |
1.016 |
1.009 |
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 |
8.306 |
388.755 |
893.152 |
|
|
|
4,580.412 |
129.747 |
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 |
8.306 |
388.755 |
893.152 |
|
Profit |
(3.151) |
(4.367) |
4.155 |
|
|
(37.94%) |
(1.12%) |
0.47% |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
PERFORMANCE
During the financial year 2013-14, the Company has achieved a turnover of Rs. 893.152 Millions in comparison of Rs. 388.756 Millions for the year ended on 31st March, 2013 and incurred a Profit/(Loss) of Rs. 4.155 Millions in comparison to Profit/(Loss) of (Rs. 4.367 Millions) for the year ended on 31st March, 2013.
BACKGROUND
Subject was incorporated in India on August 16, 2011 in Joint Venture between Minda Investments Limited (India) and Tokai Rika create Corporation (Japan). The Company is primarily involved in the trading of Engineering Plastic Resin.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10382472 |
28/09/2012 |
190,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJ |
B60439171 |
FIXED ASSETS
Tangible assets
- Plant and equipment
- Furniture and fixtures
- Motor vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- 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 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.61.93 |
|
|
1 |
Rs.96.37 |
|
Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
28 |
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.