MIRA INFORM REPORT
|
Report No. : |
309923 |
|
Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ELSON PACKAGING
INDUSTRIES PRIVATE LIMITED |
|
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|
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Registered
Office : |
118 A Wing, 1st Floor, Janta Nagar Co-operative Housing ,
MP Mills Compound, Mumbai – 400034, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.09.1988 |
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Com. Reg. No.: |
11-048984 |
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Capital
Investment / Paid-up Capital : |
Rs.12.500 Million |
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CIN No.: [Company Identification
No.] |
U21000MH1988PTC048984 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUME02317A |
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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, Exporter of Industrial Packaging. |
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No. of Employees
: |
450 (Approximately) |
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 |
|
Status : |
Moderate |
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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. The rating reflects company moderate financial risk profile marked by low
profit margin and huge borrowings recorded by the company. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limit = (BB) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
June 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund based limit = (A4) |
|
Rating Explanation |
Minimal degree of safety and carry very high credit risk |
|
Date |
June 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. Milesh |
|
Designation : |
Director |
|
Contact No.: |
91-22-23522867 |
|
Date : |
26.02.2015 |
LOCATIONS
|
Registered Office : |
118 A Wing, 1st Floor, Janta Nagar Co-operative Housing ,
MP Mills Compound, Mumbai – 400034, Maharashtra, India |
|
Tel. No.: |
91-22-23522867/ 23522447 |
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Fax No.: |
91-22-23522447 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Located at:
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Branch Office : |
608, Om Chambers, Kemps Corner, Mumbai – 400036, Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Ashok Parmanand Mody |
|
Designation : |
Director |
|
Address : |
301,Gift Appartment, Opposite Prabhadevi
Temple, Prabhadevi, Dadar, Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
03.02.1954 |
|
Date of Appointment : |
28.09.1988 |
|
DIN No.: |
00968733 |
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|
Name : |
Mrs. Kokila Ashok Mody |
|
Designation : |
Director |
|
Address : |
301,Gift Appartment, Opposite Prabhadevi
Temple, Prabhadevi, Dadar, Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
06.09.1953 |
|
Date of Appointment : |
28.09.1988 |
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DIN No.: |
00968803 |
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|
|
|
Name : |
Mr. Milesh Ashok Mody |
|
Designation : |
Director |
|
Address : |
301,Gift Appartment, Opposite Prabhadevi
Temple, Prabhadevi, Dadar, Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1983 |
|
Date of Appointment : |
22.05.2004 |
|
DIN No.: |
00968818 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Parmanand Mody |
|
659700 |
|
Kokila Ashok Mody |
|
253533 |
|
Mehta Polypropylene Industries Private Limited, India |
|
266667 |
|
Ashok Mody HUF |
|
50000 |
|
Rajesh Kantilala Mehta |
|
50 |
|
Milesh Ashok Mehta |
|
15000 |
|
Manish Kantilal Mehta |
|
50 |
|
Dipti Milesh Mody |
|
5000 |
|
Total |
|
1250000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
21.00 |
|
Directors or relatives of Directors |
79.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter of Industrial Packaging. |
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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 : |
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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 : |
Cash/ Credit |
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Purchasing : |
Cash/ Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
450 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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|
Auditors : |
|
|
Name : |
N S Bhatt and Company Chartered Accountants |
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Address : |
A4, Bharat Baug, Lancelot Compound, S V Road, Borivali (West), Mumbai
– 400092, Maharashtra, India |
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Tel. No.: |
91-22-28635016 |
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Fax No.: |
91-22-66972417 |
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E-Mail : |
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PAN.: |
AACPB7602B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.09.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,250,000 |
Equity Shares |
Rs.10/- each |
Rs. 12.500
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
12.500 |
12.500 |
12.500 |
|
(b) Reserves & Surplus |
28.837 |
26.329 |
23.915 |
|
(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) |
41.337 |
38.829 |
36.415 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
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|
(a) long-term borrowings |
11.980 |
9.896 |
8.886 |
|
(b) Deferred tax liabilities
(Net) |
2.281 |
2.211 |
2.198 |
|
(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) |
14.261 |
12.107 |
11.084 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
82.033 |
84.173 |
81.612 |
|
(b) Trade payables |
33.643 |
40.982 |
39.317 |
|
(c) Other current liabilities |
3.080 |
2.029 |
0.925 |
|
(d) Short-term provisions |
0.490 |
0.871 |
0.962 |
|
Total
Current Liabilities (4) |
119.246 |
128.055 |
122.816 |
|
|
|
|
|
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TOTAL |
174.844 |
178.991 |
170.315 |
|
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|
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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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|
(i) Tangible assets |
19.937 |
17.226 |
17.971 |
|
(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 |
0.016 |
0.016 |
0.016 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
17.022 |
7.714 |
3.803 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
36.975 |
24.956 |
21.790 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
51.572 |
59.954 |
51.276 |
|
(c) Trade receivables |
78.965 |
82.551 |
81.941 |
|
(d) Cash and cash equivalents |
4.786 |
8.887 |
8.303 |
|
(e) Short-term loans and
advances |
2.546 |
2.643 |
7.005 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
137.869 |
154.035 |
148.525 |
|
|
|
|
|
|
TOTAL |
174.844 |
178.991 |
170.315 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Gross Receipt |
410.181 |
389.027 |
365.998 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
17.541 |
19.421 |
21.095 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.286 |
14.469 |
16.295 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.255 |
4.952 |
4.800 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
1.627 |
1.457 |
1.391 |
|
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|
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|
|
PROFIT/
(LOSS) BEFORE TAX |
3.628 |
3.495 |
3.409 |
|
|
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|
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|
Less |
TAX |
1.121 |
1.080 |
1.054 |
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|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.507 |
2.415 |
2.355 |
|
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|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.01 |
1.93 |
1.88 |
Expected Sales (2014-2015) : Rs. 780.000 Million
The above information has been parted by Mr. Milesh
.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.61 |
0.62 |
0.64 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
4.28 |
4.99 |
5.76 |
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.08 |
1.95 |
2.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.09 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.27 |
2.42 |
2.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.20 |
1.21 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
12.500 |
12.500 |
12.500 |
|
Reserves & Surplus |
23.915 |
26.329 |
28.837 |
|
Net
worth |
36.415 |
38.829 |
41.337 |
|
|
|
|
|
|
long-term borrowings |
8.886 |
9.896 |
11.980 |
|
Short term borrowings |
81.612 |
84.173 |
82.033 |
|
Total
borrowings |
90.498 |
94.069 |
94.013 |
|
Debt/Equity
ratio |
2.485 |
2.423 |
2.274 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Gross Receipt |
365.998 |
389.027 |
410.181 |
|
|
|
6.292 |
5.438 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Gross Receipt |
365.998 |
389.027 |
410.181 |
|
Profit |
2.355 |
2.415 |
2.507 |
|
|
0.64% |
0.62% |
0.61% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TEM DEBT = 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 |
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 |
Yes |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and
advances from related parties |
|
|
|
From directors and shareholders |
6.235 |
8.737 |
|
From corporate |
3.800 |
0.000 |
|
|
|
|
|
Total |
10.035 |
8.737 |
OPERATIONAL REVIEW
During the year ended 31st March, 2014 the company’s performance has significantly improved. The turnover of the company stood at Rs. 410.181 Million compared to Rs. 389.027 Million during the last year. The Company’s Profit After tax during the year under review is Rs. 2.507 Million compared to Profit After tax of Rs. 2.410 Million during the last year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10526622 |
04/09/2014 |
100,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80, MUMBAI SAMAC |
C30192231 |
|
2 |
10283055 |
25/03/2011 |
637,000.00 |
UNION BANK OF INDIA |
RETAIL MART, MUMBAI
SAMACHAR MARG BRANCH,, 66/80, |
B11056157 |
|
3 |
10247679 |
18/09/2010 |
4,800,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80, MUMBAI SAMAC |
A95478517 |
|
4 |
10091099 |
17/09/2007 |
800,000.00 |
UNION BANK OF INDIA |
RETAIL MART, MUMBAI
SAMACHAR MARG BRANCH,, 66/80, |
A33451436 |
|
5 |
90226421 |
22/01/2005 * |
39,833,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMCHAR MARG
BRANCH, 66/80; MUMBAI SAMACH |
- |
|
6 |
90226376 |
11/02/2002 |
1,000,000.00 |
UNION BANK OF INDIA |
66/80MUMBAI SAMACHAR MARG FORT, MUMBAI, Maharashtra - 400023, INDIA |
- |
|
7 |
90226375 |
18/01/2002 |
5,000,000.00 |
UNION BANK OF INDIA |
66/80MUMBAI SAMACHAR MARG FORT, MUMBAI, Maharashtra - 400023, INDIA |
- |
|
8 |
90226359 |
11/09/2014 * |
100,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80, MUMBAI SAMAC |
C29720869 |
|
9 |
90226350 |
02/01/2004 * |
4,000,000.00 |
UNION BANK OF INDIA |
66/80MUMBAI SAMACHAR MARG FORT, MUMBAI, Maharashtra - 400023, INDIA |
- |
|
10 |
90223197 |
25/02/2003 * |
1,000,000.00 |
UNION BANK OF INDIA |
66/80MUMBAI SAMACHAR MARG FORT, MUMBAI, Maharashtra - 400023, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Plant and
Machineries
- Furniture and
Fixture
- Building
(Daman)
- Office
Equipments
- Computer
- Motor Car
- Scooter
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.61.94 |
|
|
1 |
Rs.96.24 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ART |
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 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--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 |
|
|
--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 |
|
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.