MIRA INFORM REPORT
|
Report No. : |
302780 |
|
Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIRTHAK PAPER MILL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 14, Lilapar Road, Taluka Morbi, Lilapar, Rajkot – 363641,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.01.2006 |
|
|
|
|
Com. Reg. No.: |
04-047622 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.45.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21000GJ2006PTC047622 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTT00707A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT3813F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Duplex Paper. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position to the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be Usually correct. The company can be considered for business dealing 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 |
CRISIL |
|
Rating |
BB- (Suspended) Long term rating |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
December 16, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Suspended) Short term rating |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
December 16, 2013 |
Reason for suspension: Non Co-Operation to
provide adequate information.
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 (91-2822-220277)
LOCATIONS
|
Registered Office/ Factory : |
Survey No. 14, Lilapar Road, Taluka Morbi, Lilapar, Rajkot – 363641,
Gujarat, India |
|
Tel. No.: |
91-2822-220277 |
|
Mobile No.: |
91-9825140640 (Mr. Kiritbhai) |
|
Fax No.: |
91-2822-220377 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Kiritbhai Jivrajbhai Fultaria |
|
Designation : |
Director |
|
Address : |
Vidhyutnagar, Ravapar Road, Morbi-363641, Gujarat, India |
|
Date of Birth/Age : |
28.12.1975 |
|
PAN No.: |
AGDPP9404A |
|
Date of Appointment : |
30.01.2006 |
|
Din No.: |
00534561 |
|
PAN No.: |
AGDPP9404A |
|
|
|
|
Name : |
Mr. Nagjibhai Jivrajbhai Fultaria |
|
Designation : |
Director |
|
Address : |
Vidhyutnagar, Ravapar Road, Morbi-363641, Gujarat, India |
|
Date of Birth/Age : |
05.07.1951 |
|
PAN No.: |
AALHP1292A |
|
Date of Appointment : |
30.01.2006 |
|
Din No.: |
02360551 |
|
PAN No.: |
ABUPP2702M |
|
|
|
|
Name : |
Mr. Pravinbhai Kanjibhai Kasundra |
|
Designation : |
Director |
|
Address : |
201, Shaligram Apartment, Opposite Om party Plot, Kenal Chokdi, Ravapar Road, Morbi – 363641, Gujarat, India |
|
Date of Birth/Age : |
09.05.1976 |
|
PAN No.: |
AASPK6277F |
|
Date of Appointment : |
30.01.2006 |
|
Din No.: |
00550629 |
|
PAN No.: |
AASPK6277F |
|
|
|
|
Name : |
Mr. Nareshbhai Jivrajbhai Fultaria |
|
Designation : |
Director |
|
Address : |
Vidhyutnagar, Ravapar Road, Morbi-363641, Gujarat, India |
|
Date of Birth/Age : |
11.02.1980 |
|
PAN No.: |
AAGPF2724C |
|
Date of Appointment : |
17.02.2011 |
|
'Din No.: |
03418275 |
|
PAN No.: |
AAGPF2724C |
|
|
|
|
Name : |
Mr. Vipulkumar Vanjibhai Patel |
|
Designation : |
Director |
|
Address : |
Gautam Society, Ravapar Road, Morbi-363641, Gujarat, India |
|
Date of Birth/Age : |
09.09.1975 |
|
PAN No.: |
AIXPP0853F |
|
Date of Appointment : |
17.02.2011 |
|
Din No.: |
01172321 |
|
PAN No.: |
AIXPP0853F |
|
|
|
|
Name : |
Mr. Arvindbhai Jivrajbhai Patel |
|
Designation : |
Director |
|
Address : |
Vidhyutnagar, Ravapar Road, Morbi-363641, Gujarat, India |
|
Date of Birth/Age : |
11.02.1980 |
|
PAN No.: |
AGDPP9403H |
|
Date of Appointment : |
17.02.2011 |
|
Din No.: |
00911134 |
|
PAN No.: |
AAKHP9700J |
|
|
|
|
Name : |
Mr. Thobhanbhai Jivrajbhai Patel |
|
Designation : |
Director |
|
Address : |
202, Shaligram Apartments, Ravapar Road, Morbi, Gujarat, India |
|
Date of Birth/Age : |
05.07.1963 |
|
PAN No.: |
ANHPK8229R |
|
Date of Appointment : |
17.02.2011 |
|
Din No.: |
03418278 |
|
PAN No.: |
ANHPK8229R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kiritbhai Jivrajbhai Fultaria |
|
646000 |
|
Vishal Bhanjibhai Fultaria |
|
2500 |
|
Jivrajbhai Nagjibhai Fultaria |
|
884690 |
|
Pravinbhai Kanjibhai Kasundra |
|
96400 |
|
Arvindbhai Jivrajbhai Patel |
|
568500 |
|
Nipaben Arivndbhai Fultaria |
|
215000 |
|
Nareshbhai Jivrajbhai Fultaria |
|
411500 |
|
Jayesh Vanjibhai Padliya |
|
80000 |
|
Dharmishthaben Vipulbhai Padliya |
|
90000 |
|
Bhagwatiben Jivrajbhai Kasundra |
|
199200 |
|
Geetaben Jayantibhai Kasundra |
|
300800 |
|
Vipul V Padaliya |
|
70000 |
|
Vanjibhai Babubhai Patel |
|
80000 |
|
Jivrajbhai T. Kasundra |
|
130000 |
|
Jayshreeben D. Kasundra |
|
115000 |
|
Mansukhlal K. Patel |
|
115000 |
|
Alpaben Kiritbhai Fultaria |
|
180000 |
|
Rukshmaniben Jivrajbhai Fultaria |
|
172500 |
|
Simaben N. Fultaria |
|
70910 |
|
Jignesh K. Fultaria |
|
22500 |
|
Kanjibhai R. Patel |
|
22500 |
|
Nayanaben B. Kasundra |
|
27000 |
|
Total |
|
4500000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Duplex Paper. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
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 : |
|
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nanalal P. Hadial Chartered Accountants |
|
Address : |
Shakti Complex, 1St Floor, Near Dr. Rupala Hospital 16, Savsar Plot, Morbi – 1, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAHPH2014C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 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 |
45.000 |
45.000 |
45.000 |
|
(b) Reserves & Surplus |
209.709 |
175.271 |
141.612 |
|
(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) |
254.709 |
220.271 |
186.612 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
101.334 |
112.309 |
141.759 |
|
(b) Deferred tax liabilities
(Net) |
3.925 |
3.400 |
3.628 |
|
(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) |
105.259 |
115.709 |
145.387 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
258.047 |
262.309 |
180.911 |
|
(b) Trade payables |
168.539 |
127.411 |
221.963 |
|
(c) Other current liabilities |
32.883 |
41.270 |
44.544 |
|
(d) Short-term provisions |
25.025 |
26.127 |
32.550 |
|
Total
Current Liabilities (4) |
484.494 |
457.117 |
479.968 |
|
|
|
|
|
|
TOTAL |
844.462 |
793.097 |
811.967 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
228.756 |
209.452 |
230.696 |
|
(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 |
0.100 |
0.100 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.009 |
0.009 |
15.575 |
|
Total
Non-Current Assets |
228.865 |
209.561 |
246.271 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
186.293 |
159.243 |
251.588 |
|
(c) Trade receivables |
358.438 |
376.783 |
274.680 |
|
(d) Cash and cash equivalents |
25.234 |
16.547 |
11.497 |
|
(e) Short-term loans and
advances |
9.721 |
11.348 |
12.158 |
|
(f) Other current assets |
35.911 |
19.615 |
15.773 |
|
Total
Current Assets |
615.597 |
583.536 |
565.696 |
|
|
|
|
|
|
TOTAL |
844.462 |
793.097 |
811.967 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1439.883 |
1489.324 |
1561.629 |
|
|
|
Other Income |
1.586 |
0.818 |
0.982 |
|
|
|
TOTAL |
1441.469 |
1490.142 |
1562.611 |
|
|
|
|
|
|
|
|
|
DEPRECIATION & AMORTIZATION EXPENSES |
29.651 |
33.019 |
34.732 |
|
|
|
|
|
|
|
|
|
|
PROVISION OF TAX |
16.949 |
16.716 |
16.528 |
|
|
|
|
|
|
|
|
|
|
DEFF. TAX LIABILITIES |
0.524 |
(0.288) |
0.358 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/LOSS |
34.438 |
33.659 |
32.958 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.65 |
4.48 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.39 |
2.26 |
2.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.41 |
1.70 |
1.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.28 |
1.18 |
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 |
45.000 |
45.000 |
45.000 |
|
Reserves & Surplus |
141.612 |
175.271 |
209.709 |
|
Net
worth |
186.612 |
220.271 |
254.709 |
|
|
|
|
|
|
long-term borrowings |
141.759 |
112.309 |
101.334 |
|
Short term borrowings |
180.911 |
262.309 |
258.047 |
|
Total
borrowings |
322.670 |
374.618 |
359.381 |
|
Debt/Equity
ratio |
1.729 |
1.701 |
1.411 |
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 |
1561.629 |
1489.324 |
1439.883 |
|
|
|
(4.630) |
(3.320) |
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 |
1561.629 |
1489.324 |
1439.883 |
|
Profit |
32.958 |
33.659 |
34.438 |
|
|
2.11% |
2.26% |
2.39% |
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 |
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 |
No |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from directors |
20.444 |
37.946 |
|
Loans and advances from others |
30.546 |
37.448 |
|
Total |
50.991 |
75.394 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10359143 |
23/01/2014 * |
469,600,000.00 |
THE COSMOS CO-OPERATIVE BANK LTD. |
OPP. SARDAR BAUG,
NR. PETROL PUMP, SANALA ROAD, M |
B94988557 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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.62.40 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
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 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.