MIRA INFORM REPORT
|
Report No. : |
309079 |
|
Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAGNUM FORGE AND MACHINE WORKS PRIVATE LIMITED |
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Registered
Office : |
Flat No. 1682, Parjati Towers, Paravati, Pune – 411037, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
12.05.1993 |
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Com. Reg. No.: |
11-071950 |
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Capital Investment
/ Paid-up Capital : |
Rs.3.000 Millions |
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CIN No.: [Company Identification
No.] |
U27101PN1993PTC071950 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of oilfield components. |
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No. of Employees
: |
250 (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 |
|
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. Management of the company has not filed its latest financial i.e. 2014
with the government department. As per the available of 2013, general financial position of the
company seems to be normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. The company can be considered normal for business dealings at usual
trade 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.
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 (GENERAL DETAILS)
|
Name : |
Mr. Shekher Tupe |
|
Designation : |
Manager |
|
Contact No.: |
91-9822519342 |
|
Date : |
19.02.2015 |
LOCATIONS
|
Registered Office : |
Flat No. 1682, Parjati Towers, Paravati, Pune – 411037, Maharashtra |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9822519342 (Mr. Shekher Tupe) |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
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|
|
|
Factory: |
At and Post Velu, Gat No.: 776 and
777, Near Shindewadi, Pune-Satara Road, Taluka: Bhor, District: Pune –
412205, Maharashtra, India |
|
Tel. No.: |
91-2113-252422-252365/252499 |
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Fax No.: |
91-2113/252476 |
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E-Mail : |
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Office: |
82, Parvati Towers, Flat No. 26, 6th Floor, Parvati, Pune –
411009, Maharashtra, India |
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Tel. No.: |
91-20-24443832/24446279 |
|
Fax No.: |
91-20-2443873 |
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E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sudhir Shrivallabh Puranik |
|
Designation : |
Director |
|
Address : |
B-6, Nirant Condominium Bibwewadi, Pune – 411037, Maharashtra, India |
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Date of Birth/Age : |
11.03.1944 |
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Date of Appointment : |
12.05.1993 |
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DIN No.: |
01721650 |
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Name : |
Mr. Rekha Sudhir Puranik |
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Designation : |
Director |
|
Address : |
B-6, Nirant Condominium Bibwewadi, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1950 |
|
Date of Appointment : |
12.05.1993 |
|
DIN No.: |
01244229 |
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|
|
|
Name : |
Mr. Revati Vikram Salunkhe |
|
Designation : |
Director |
|
Address : |
113, Saint Patrics Town,
Hadapsar, Pune – 411013, Maharashtra, India |
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Date of Birth/Age : |
24.04.1972 |
|
Date of Appointment : |
12.05.1993 |
|
DIN No.: |
00186144 |
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|
|
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Name : |
Mr. Shubhangi Neelesh Musale |
|
Designation : |
Director |
|
Address : |
B-6, Nirant Condominium Bibwewadi, Pune – 411037, Maharashtra, India |
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Date of Birth/Age : |
15.03.1978 |
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Date of Appointment : |
30.09.1997 |
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DIN No.: |
01979590 |
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|
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|
Name : |
Mr. Subhash Shrivallabh Puranik |
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Designation : |
Director |
|
Address : |
4423, Knnightsbridge, Sugarland TX 77479 |
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Date of Birth/Age : |
15.03.1978 |
|
Date of Appointment : |
31.03.2002 |
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DIN No.: |
01989996 |
KEY EXECUTIVES
|
Name : |
Mr. Shekher Tupe |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sudhir Shrivallabh Puranik |
|
299900 |
|
Rekha Sudhir Puranik |
|
90 |
|
Revati Vikram Salunkhe |
|
10 |
|
Total |
|
300000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of oilfield components. |
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Products : |
Oilfield components |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Yeravdekar and Associates Chartered Accountants |
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Address : |
96/16,Navi Peth,Rajendranagar, Near Sachin Tendulkar Jogging Track,
Pune – 411030, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFY1530C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiaries : |
Askara Technical Solutions Private Limited [U74140MH2007PTC176376] |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000
Millions |
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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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|
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|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3.000 |
3.000 |
3.000 |
|
(b) Reserves & Surplus |
135.053 |
129.722 |
124.780 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
10.730 |
18.384 |
36.678 |
|
Total
Shareholders’ Funds (1) + (2) |
148.783 |
151.106 |
164.458 |
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|
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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 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
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(4) Current Liabilities |
|
|
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(a) Short term borrowings |
0.000 |
9.560 |
0.031 |
|
(b) Trade payables |
999.200 |
693.443 |
518.711 |
|
(c) Other current liabilities |
2.298 |
2.394 |
0.660 |
|
(d) Short-term provisions |
1.920 |
3.895 |
1.557 |
|
Total
Current Liabilities (4) |
1003.418 |
709.292 |
520.959 |
|
|
|
|
|
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TOTAL |
1152.201 |
860.398 |
685.417 |
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
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|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
159.875 |
152.574 |
127.337 |
|
(ii) Intangible Assets |
5.546 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
36.664 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
9.705 |
9.852 |
9.275 |
|
(d) Long-term Loan and Advances |
0.574 |
0.575 |
0.575 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
175.800 |
163.101 |
173.951 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
318.348 |
184.362 |
101.201 |
|
(c) Trade receivables |
492.426 |
384.890 |
321.140 |
|
(d) Cash and cash equivalents |
52.350 |
48.184 |
41.925 |
|
(e) Short-term loans and
advances |
113.277 |
79.861 |
47.200 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
976.401 |
697.297 |
511.466 |
|
|
|
|
|
|
TOTAL |
1152.201 |
860.398 |
685.417 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
935.489 |
789.784 |
572.097 |
|
|
|
Other Income |
18.777 |
3.428 |
5.098 |
|
|
|
TOTAL (A) |
954.266 |
793.212 |
577.195 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
602.537 |
501.526 |
350.393 |
|
|
|
Changes in inventories of finished goods stock in process
and stock in trade |
(93.210) |
(72.139) |
-36.366 |
|
|
|
Employees benefits expense |
77.020 |
62.723 |
52.121 |
|
|
|
Other Manufacturing expense |
299.479 |
223.161 |
161.773 |
|
|
|
Other Administrative expense |
16.202 |
31.571 |
8.528 |
|
|
|
TOTAL (B) |
902.028 |
746.842 |
536.449 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
52.238 |
46.3700 |
40.746 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.021 |
0.023 |
0.315 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.217 |
46.347 |
40.431 |
|
|
|
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|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.932 |
30.162 |
27.237 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.285 |
16.185 |
13.194 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.954 |
11.243 |
5.655 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.331 |
4.942 |
7.539 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
205.588 |
159.572 |
8.577 |
|
|
|
Stores & Spares |
35.440 |
31.218 |
66.019 |
|
|
|
Capital Goods |
14.783 |
2.207 |
74.596 |
|
|
TOTAL IMPORTS |
255.811 |
192.997 |
149.192 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.77 |
16.47 |
25.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.57 |
0.63 |
1.32 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.58 |
5.87 |
7.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.78
|
1.90 |
2.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.11 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.06 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97
|
0.98 |
0.98 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3.000 |
3.000 |
3.000 |
|
Reserves & Surplus |
124.780 |
129.722 |
135.053 |
|
Net
worth |
127.780 |
132.722 |
138.053 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.031 |
9.560 |
0.000 |
|
Total
borrowings |
0.031 |
9.560 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.072 |
0.000 |
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 |
572.097 |
789.784 |
935.489 |
|
|
|
38.051 |
18.449 |
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 |
572.097 |
789.784 |
935.489 |
|
Profit |
7.539 |
4.942 |
5.331 |
|
|
1.32% |
0.63% |
0.57% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
Yes |
|
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:
The year under consideration the company has achieved turnover of Rs.935.500 Millions (previous year Rs.789.800 Millions) and has earned valuable foreign exchange of Rs. 913.800 Millions (Previous year Rs.68.49 Crores). The Company has earned profit of Rs. 20.300 Millions (Previous year Rs.16.200 Millions) due to the continuous efforts taken by the Directors.
The Board is confident to achieve even better results in the upcoming financial year.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90087448 |
27/09/2005 |
40,000,000.00 |
BANK OF INDIA |
SAHAKARNAGAR
BRANCH, PUNE, MAHARASHTRA - 411009, INDIA |
- |
FIXED ASSETS
Tangible Assets
- Land
- Factory Building
- Compound Wall
- Plant and Machinery
- Furnace
- Die Blocks
- Material Handling Equipments
- Tools and Instruments
- Electrical Installations
- Furniture and Fixture
- Motor Car
- Vehicles Bus
- Television Set
- Refrigerators
- Two Wheelers
- Office Equipment
- Printer
- Mobile Set
- Computers
- Road and Fencing
- Storage Racks
- Borewell
In-Tangible Assets
- Softwares
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.62.26 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
-- |
7
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.