MIRA INFORM REPORT
|
Report No. : |
302925 |
|
Report Date : |
14.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
BBM HEAVY MACHINERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.- A490,
2nd Floor, Near Road No.25, Road U, Wagle Industrial Estate, Thane
(West), Thane – 400604, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.03.2011 |
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|
|
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Com. Reg. No.: |
11-214727 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.30.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29253MH2011PTC214727 |
|
|
|
|
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, Exporter and Importer of Metallurgical Equipments, Accessories,
Components and Spare Parts for the Heavy Engineering Industry. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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|
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|
Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has incurred huge accumulated losses which has eroded net
worth of the company. Liquidity position of the company is under pressure. Business is active. Payments are reported to be slow. The company can be considered for business dealings on safe and
secured 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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Dipesh Sharma |
|
Designation : |
Account and Finance Manager |
|
Contact No.: |
91-8108107494 |
|
Date : |
13.01.2015 |
LOCATIONS
|
Registered Office : |
Plot No.- A490,
2nd Floor, Near Road No.25, Road U, Wagle Industrial Estate, Thane
(West), Thane – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-25801115 |
|
Mobile No.: |
91-8108107494 [Mr. Dipesh Sharma] |
|
Fax No.: |
91-22-25806157 |
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E-Mail : |
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|
Website : |
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|
|
|
Factory : |
Unit No. D2, Indian Corporation, Opposite Dive Petrol Pump, Mumbai
Nashik Highway, Dive Village, Taluka Bhiwandi, District Thane – 421302,
Maharashtra, India |
|
E-Mail : |
DIRECTORS
As on 10.09.2014
|
Name : |
Mr. Nikhil Pradip Bhatia |
|
Designation : |
Director |
|
Address : |
3, III Floor, Amrita Building, L.D. Ruparel Marg, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
28.03.1970 |
|
Date of Appointment : |
14.03.2011 |
|
DIN No.: |
01667405 |
|
|
|
|
Name : |
Mr. Torsten Reiner Heising |
|
Designation : |
Additional Director |
|
Address : |
8, Pflegerbauerstrasse, Munchen, 81925, Germany |
|
Date of Birth/Age : |
31.12.1964 |
|
Date of Appointment : |
24.08.2011 |
|
DIN No.: |
01887085 |
|
|
|
|
Name : |
Mr. Giacomo Bigolin |
|
Designation : |
Additional Director |
|
Address : |
Vlo Ca' Erizzo
9, Bassano Del Grappa Via, 36061, Italy |
|
Date of Birth/Age : |
25.05.1965 |
|
Date of Appointment : |
16.09.2011 |
|
DIN No.: |
05109452 |
|
|
|
|
Name : |
Mr. Nicola Bigolin |
|
Designation : |
Managing Director |
|
Address : |
Via Fratta 11,
San Zenone D Ezzelini, 31020, Italy |
|
Date of Birth/Age : |
02.02.1967 |
|
Date of Appointment : |
16.09.2011 |
|
DIN No.: |
05109466 |
|
|
|
|
Name : |
Mr. Sudip Kumar Pramanik |
|
Designation : |
Additional Director |
|
Address : |
1st Floor, 56/1 Paresh Mazumdar Road, Kolkata - 700078, West Bengal, India |
|
Date of Birth/Age : |
19.10.1967 |
|
Date of Appointment : |
20.05.2014 |
KEY EXECUTIVES
|
Name : |
Mr. Dipesh Sharma |
|
Designation : |
Account and Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
SMS Meer India Private Limited |
1050000 |
35.00 |
|
Officine Meccaniche BBM S.p.A. |
1050000 |
35.00 |
|
Nikhil Pradip Bhatia |
900000 |
30.00 |
|
Total |
3000000 |
100.00 |
As on 10.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
35.00 |
|
Bodies corporate |
35.00 |
|
Directors or relatives of Directors |
30.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Metallurgical Equipments,
Accessories, Components and Spare Parts for the Heavy Engineering Industry. |
|
|
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by management |
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Bankers : |
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Auditors : |
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|
Name : |
CNK and Associates LLP Chartered Accountants |
|
Address : |
7A, Jash Chambers, Sir P. M. Road, Fort, Mumbai – 400001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFC8587E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 10.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 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 |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
(94.826) |
(64.410) |
(20.316) |
|
(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) |
(64.826) |
(34.410) |
9.684 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(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 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
98.327 |
88.755 |
23.654 |
|
(b) Trade payables |
27.511 |
10.433 |
5.957 |
|
(c) Other current liabilities |
7.627 |
6.515 |
5.439 |
|
(d) Short-term provisions |
0.214 |
0.000 |
0.182 |
|
(e) Construction Contracts in Progress-Liabilities |
54.660 |
9.505 |
0.000 |
|
Total Current
Liabilities (4) |
188.339 |
115.208 |
35.232 |
|
|
|
|
|
|
TOTAL |
123.513 |
80.798 |
44.916 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
49.600 |
41.649 |
22.873 |
|
(ii)
Intangible Assets |
0.537 |
0.643 |
0.126 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
1.812 |
|
(iv)
Intangible assets under development |
0.441 |
0.441 |
0.420 |
|
(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 |
10.057 |
6.938 |
3.948 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
60.635 |
49.671 |
29.179 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
7.941 |
10.265 |
0.997 |
|
(c) Construction in Progress |
0.000 |
0.000 |
0.834 |
|
(d) Trade receivables |
15.735 |
0.565 |
0.000 |
|
(e) Cash
and cash equivalents |
1.306 |
4.436 |
7.110 |
|
(f)
Short-term loans and advances |
37.896 |
15.861 |
6.796 |
|
(g) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
62.878 |
31.127 |
15.737 |
|
|
|
|
|
|
TOTAL |
123.513 |
80.798 |
44.916 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
158.142 |
37.125 |
13.637 |
|
|
|
Other Income |
1.034 |
0.316 |
-0.014 |
|
|
|
TOTAL (A) |
159.176 |
37.441 |
13.623 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed and Erection Cost |
117.505 |
29.141 |
11.582 |
|
|
|
Changes in Inventories |
(3.587) |
(1.677) |
(0.114) |
|
|
|
Employee Benefits |
21.805 |
14.284 |
5.009 |
|
|
|
Other Expenses |
38.737 |
27.222 |
16.812 |
|
|
|
TOTAL (B) |
174.460 |
68.970 |
33.289 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(15.284) |
(31.529) |
(19.666) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.332 |
7.542 |
0.154 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(23.616) |
(39.071) |
(19.820) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.800 |
5.023 |
0.496 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(30.416) |
(44.094) |
(20.316) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(30.416) |
(44.094) |
(20.316) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
165.038 |
19.412 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.14 |
(14.70) |
(13.09) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(19.23) |
(118.77) |
(148.98) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(9.66) |
(84.93) |
(144.21) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(24.71) |
(54.87) |
(47.60) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
1.28 |
(2.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(1.52) |
(2.58) |
2.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.33 |
0.27 |
0.45 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
(20.316) |
(64.410) |
(94.826) |
|
Net
worth |
9.684 |
(34.410) |
(64.826) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
23.654 |
88.755 |
98.327 |
|
Total
borrowings |
23.654 |
88.755 |
98.327 |
|
Debt/Equity
ratio |
2.443 |
(2.579) |
(1.517) |
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 |
13.637 |
37.125 |
158.142 |
|
|
|
172.237 |
325.972 |
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 |
13.637 |
37.125 |
158.142 |
|
Profit/ (Loss) |
(20.316) |
(44.094) |
(30.416) |
|
|
(148.98%) |
(118.77%) |
(19.23%) |
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 |
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 |
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 |
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10528325 |
15/10/2014 |
200,000,000.00 |
SMS MEER INDIA PRIVATE LIMITED |
RDB BOULEVARD, BLOCK EP SECTOR V SALT LAKE, KOLKATA, WEST BENGAL - 700091, INDIA |
C31706419 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
Loan Repayable
on Demand |
|
|
From Bank * [The above borrowing is in the nature of a cash credit facility from a
bank and is secured by corporate guarantee from the holding company of one of
the joint venture.] |
88.755 |
|
Total |
88.755 |
FIXED ASSETS
Tangible Assets
·
Building
·
Plant and Machinery
·
Office Equipment
·
Electrical Installation
·
Factory Plant and
Machinery
·
Furniture and Fixtures
·
Computer Hardware
Intangible Assets
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
|
|
1 |
Rs.94.10 |
|
Euro |
1 |
Rs.73.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
11 |
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.