MIRA INFORM REPORT
|
Report No. : |
309842 |
|
Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GENERAL CABLE ENERGY INDIA PRIVATE LIMITED [w.e.f.17.07.2008] |
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Formerly Known
As : |
PLAZA GENERAL CABLE ENERGY PRIVATE LIMITED [w.e.f.05.07.2007] NAVRATNA ENERGY CABLE PRIVATE LIMITED |
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Registered
Office : |
A-38, Kailash Colony, New Delhi - 110048 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.08.2006 |
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Com. Reg. No.: |
55-152190 |
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Capital
Investment / Paid-up Capital : |
Rs. 1075.657 Millions |
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CIN No.: [Company Identification
No.] |
U31300DL2006FTC152190 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELN08019E |
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PAN No.: [Permanent Account No.] |
AACCN3799E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing Energy Infrastructure and Construction
of Cable and also Manufacturing wide range of Wires and Cables. |
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No. of Employees
: |
Not Available |
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 |
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Maximum Credit Limit : |
USD 2039000 |
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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 record. The rating is constrained on account of some accumulated losses
incurred by the company during FY 2014. 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.
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 |
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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.
LOCATIONS
|
Registered Office : |
A-38, Kailash Colony, New Delhi – 110048, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
Unit Nos. 508-510,
5th Floor, Tower-A, IRIS Tech Park,
Sector-48, Sohna Road, Gurgaon -
122018, Haryana, India |
|
Tel. No.: |
91-124-4326000 |
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Fax No.: |
91-124-4326019 |
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|
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Factory : |
Unit 1, Village Bhatouli Khurd, Baddi, District Solan, Himachal
Pradesh, India |
|
Tel. No.: |
91-1795-663600 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Amitava Bose |
|
Designation : |
Director |
|
Address : |
E / 5 / 2, Platinum City, Hmt Main Road,, Yeshwanthapur,, Bangalore - 560022, Karnataka, India |
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Date of Birth/Age : |
29.11.1958 |
|
Date of Appointment : |
15.05.2013 |
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PAN No.: |
AGGPB8672H |
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DIN No.: |
02170239 |
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Name : |
Peter Armstrong Campbell |
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Designation : |
Director |
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Address : |
10, Lorong Taman Pantai 1, Kuala Lumpur, Wil, Kuala Lumpur, 59100, Malaysia |
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Date of Birth/Age : |
10.04.1961 |
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Date of Appointment : |
07.02.2013 |
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DIN No.: |
02440205 |
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Name : |
Ghan Shyam Dass |
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Designation : |
Whole-time director |
|
Address : |
394-C/11, New Colony, Near State Bank of India, Gurgaon - 122001, Haryana, India |
|
Date of Birth/Age : |
27.06.1976 |
|
Date of Appointment : |
18.07.2014 |
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DIN No.: |
02911075 |
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Name : |
Kangwa David Bwalya |
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Designation : |
Director |
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Address : |
Unit No 2806, Chatrium Residence Riverside, 26 Charoenkrung Road, Wat Phrayakrai, Bangkholame, Bangkok 10120, Thailand |
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Date of Birth/Age : |
24.08.1970 |
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Date of Appointment : |
07.02.2013 |
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DIN No.: |
06488796 |
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Name : |
Mr. Atul Kshirsagar |
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Designation : |
Whole-time director |
|
Address : |
F-603, Sispal Vihar, Awho Complex, Sector - 49, Sohna Road, Gurgaon - 122018, Haryana, India |
|
Date of Birth/Age : |
07.12.1965 |
|
Date of Appointment : |
23.05.2013 |
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PAN No.: |
AAJPK5464D |
|
DIN No.: |
06590259 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul Gupta |
|
Designation : |
Secretary |
|
Address : |
37, Brij Dham, Phase 1, Near Amita Vihar, Kamla Nagar, Agra – 282005,
Uttar Pradesh, India |
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Date of Birth/Age : |
14.09.1982 |
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Date of Appointment : |
18.07.2014 |
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PAN No.: |
ALVPG1052A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
GCNZ India Cable 1 Limited, New Zealand |
2993374 |
26.30 |
|
GCNZ India Cable 2 Limited, New Zealand |
2993374 |
26.30 |
|
Generac Cable Trading, Mauritius |
5394875 |
47.40 |
|
|
|
|
|
Total |
11381623 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
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|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing Energy Infrastructure and Construction
of Cable and also Manufacturing wide range of Wires and Cables. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· Standard Chartered Bank Credit Documentation Unit, Narain Manzil, 23 Barakhamba
Road, New Delhi - 110001, Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex,
DLF City Phase II, Gurgaon, Haryana, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFD2095B |
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Ultimate Holding
company : |
General Cable Corporation |
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Holding company : |
General Cable Holdings |
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Associates : |
· GCNZ India Cable 1 Limited · GCNZ India Cable 2 Limited ·
General Cable Trading |
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Fellow Subsidiary
company : |
· General Cable Industries Inc. · Phelps Dodge International Corporation · Phelps Dodge International Limited · PD Wire and Cable Sales Corporation · Cobre Cerrillos S.A |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs. 100/- each |
Rs. 1500.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
11,381,623 |
Equity Shares |
Rs. 100/- each |
Rs. 1138.162 Millions |
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AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs. 100/- each |
Rs. 1500.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
10,756,573 |
Equity Shares |
Rs. 100/- each |
Rs. 1075.657 Millions |
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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 |
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(1)Shareholders' Funds |
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|
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(a) Share Capital |
1075.657 |
965.591 |
807.184 |
|
(b) Reserves & Surplus |
(485.620) |
748.398 |
795.586 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share
Application money pending allotment |
123.760 |
0.000 |
314.368 |
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Total
Shareholders’ Funds (1) + (2) |
713.797 |
1713.989 |
1917.138 |
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(3)
Non-Current Liabilities |
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|
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(a) Long-term borrowings |
104.737 |
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 |
4.110 |
4.595 |
2.371 |
|
Total
Non-current Liabilities (3) |
108.847 |
4.595 |
2.371 |
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(4) Current Liabilities |
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|
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(a)
Short term borrowings |
614.735 |
345.833 |
0.000 |
|
(b)
Trade payables |
201.719 |
99.993 |
66.343 |
|
(c)
Other current liabilities |
87.336 |
100.344 |
74.437 |
|
(d)
Short-term provisions |
0.384 |
0.397 |
0.246 |
|
Total
Current Liabilities (4) |
904.174 |
546.567 |
141.026 |
|
|
|
|
|
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TOTAL |
1726.818 |
2265.151 |
2060.535 |
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II.
ASSETS |
|
|
|
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(1) Non-current assets |
|
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
805.410 |
1648.173 |
1234.163 |
|
(ii)
Intangible Assets |
4.807 |
37.257 |
19.687 |
|
(iii)
Capital work-in-progress |
4.496 |
0.000 |
374.911 |
|
(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 |
22.739 |
8.544 |
21.077 |
|
(e)
Other Non-current assets |
0.034 |
0.032 |
0.030 |
|
Total
Non-Current Assets |
837.486 |
1694.006 |
1649.868 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
289.866 |
281.383 |
38.303 |
|
(c)
Trade receivables |
407.581 |
115.570 |
31.526 |
|
(d)
Cash and cash equivalents |
96.186 |
5.577 |
235.088 |
|
(e)
Short-term loans and advances |
78.528 |
151.444 |
89.717 |
|
(f)
Other current assets |
17.171 |
17.171 |
16.033 |
|
Total
Current Assets |
889.332 |
571.145 |
410.667 |
|
|
|
|
|
|
TOTAL |
1726.818 |
2265.151 |
2060.535 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
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TOTAL |
823.389 |
375.526 |
64.260 |
|
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EXPENSES |
|
|
|
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|
|
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TOTAL |
1429.206 |
734.775 |
152.177 |
|
|
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|
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|
PROFIT/
(LOSS) BEFORE IMPAIRMENT AND TAXATION |
(605.817) |
(359.249) |
(87.917) |
|
|
|
|
|
|
|
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|
|
PROFIT/
(LOSS) BEFORE TAX |
(1395.816) |
(359.249) |
(87.917) |
|
|
|
|
|
|
|
|
|
|
TAX |
0.000 |
0.000 |
0.000 |
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|
|
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|
PROFIT/
(LOSS) AFTER TAX |
(1395.816) |
(359.249) |
(87.917) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(1121.665) |
(762.416) |
(674.499) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2517.481) |
(1121.665) |
(762.416) |
|
|
|
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|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
26.460 |
42.438 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings/
(Loss) Per Share (Rs.) |
(129.76) |
(37.21) |
(10.89) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(81.04) |
(15.86) |
(5.22) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.96) |
(0.21) |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.01 |
0.20 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.04 |
2.91 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
807.184 |
965.591 |
1075.657 |
|
Reserves & Surplus |
795.586 |
748.398 |
(485.620) |
|
Share
Application money pending allotment |
314.368 |
0.000 |
123.760 |
|
Net
worth |
1917.138 |
1713.989 |
713.797 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
104.737 |
|
Short term borrowings |
0.000 |
345.833 |
614.735 |
|
Total
borrowings |
0.000 |
345.833 |
719.472 |
|
Debt/Equity ratio |
0.000 |
0.202 |
1.008 |
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) |
|
Total Income |
64.260 |
375.526 |
823.389 |
|
|
|
484.385 |
119.263 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
64.260 |
375.526 |
823.389 |
|
Profit/ (Loss) |
(87.917) |
(359.249) |
(1395.816) |
|
|
(136.81%) |
(95.67%) |
(169.52%) |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10104388 |
17/04/2014 * |
1,040,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
C04659447 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other external commercial borrowings |
104.737 |
0.000 |
|
|
|
|
|
Total |
104.737 |
0.000 |
FUTURE OUTLOOK
After commencing the production from Cable Unit in 2013, during the
financial year 2013-14 Company has achieved income from operation of Rs.
822.700 Millions.
Subsequent to the year end, under a global restructuring program,
General Cable Corporation, USA, the ultimate holding company, has decided to
close down the manufacturing operations of the Company located at Baddi,
Himachal Pradesh. However, the Company’s intention is to continue its business
of trading in High Voltage Cables and Extra High Voltage Cables manufactured at
other General Cable manufacturing facilities.
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
· 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. 61.94 |
|
|
1 |
Rs. 96.24 |
|
Euro |
1 |
Rs. 70.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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.