MIRA INFORM REPORT
|
Report No. : |
303344 |
|
Report Date : |
20.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
EMERALD ALCHYMICUS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
705, The Corporate Centre, Nirmal Lifestyles, L.B.S. Marg, Mulund (West),
Mumbai – 400080, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.01.2003 |
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Com. Reg. No.: |
11-138599 |
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Capital
Investment / Paid-up Capital : |
Rs.37.600 Millions |
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CIN No.: [Company Identification
No.] |
U24100MH2003PTC138599 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and importer of chemicals. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 170000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Management has failed to file latest financials of FY14, with the
statutory authorities. As per available the company possesses a weak financial profile
characterized by moderate networth base comprising of low reserves, high
gearing level, weak debt coverage indicators and working capital intensive
operations. Management has reported limited scale of operations resulting into
moderate revenue base as well as net profitability along with minimal profit
margins during FY 2013, as a result of trading nature of the business. The rating also take into consideration the intense competitive
pressures in the industry which in turn affects the business profile during
the year. However, trade relations seems to be fair. Business is active. Payment
terms are reported as slow. In view of experienced promoters, established relationship with its
suppliers and wide customer base, the company can be considered for business
dealings with great 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limits = B- |
|
Rating Explanation |
Risk prone credit quality and high risk of
default. |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund Based Limits = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
December 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. Prasad Bhole |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-25628060 |
|
Date : |
14.01.2015 |
LOCATIONS
|
Registered Office : |
705, The Corporate Centre, Nirmal Lifestyles, L.B.S. Marg, Mulund
(West), Mumbai – 400080, Maharashtra, India |
|
Tel. No.: |
91-22-25628060/ 61/ 62 |
|
Fax No.: |
91-22-25628065 / 66 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Warehouse : |
Shree Rajlaxmi
Complex, Kalher, Bhiwandi, Mumbai - 421302, Maharashtra, India |
DIRECTORS
As on 26.09.2013
|
Name : |
Mr. Kettan Shamsunder Karkhanis |
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Designation : |
Managing Director |
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Address : |
B/1106, Kalinga Nirmal Nagar, Mulund (West), Mumbai – 400080,
Maharashtra, India |
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Date of Birth/Age : |
12.08.1966 |
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Date of Appointment : |
12.11.2011 |
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DIN No.: |
02141965 |
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Other Directorship :
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Name : |
Mr. Prasant Bhalchandra Nachane |
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Designation : |
Director |
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Address : |
1102/C, Jalaram Park, LBS Marg, Bhandup, Mumbai – 400078, Maharashtra,
India |
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Date of Birth/Age : |
30.06.1978 |
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Date of Appointment : |
24.02.2004 |
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DIN No.: |
01747138 |
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Other
Directorship:
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Name : |
Mrs. Shraddha Ketan Karkhanis |
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Designation : |
Director |
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KEY EXECUTIVES
|
Name : |
Mr. Prasad |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS
As on 26.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 21.03.2014
|
Name of Allottees
|
|
No. of Shares |
|
Harsha Nachane |
|
53125 |
|
Kalinha Reality
Private Limited, India |
|
3125000 |
|
Prashant Nachane |
|
365625 |
|
Sunil Nare |
|
25000 |
|
Vidhunmala
baasubhramanian |
|
187500 |
|
Total |
|
3756250 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2013
|
Category |
Percentage |
|
Bodies corporate |
5.14 |
|
Directors or relatives of Directors |
34.46 |
|
Other top fifty shareholders |
60.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and importer of chemicals. |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Dubai |
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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 and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Mehta and Parmar Chartered Accountants |
|
Address : |
14, Uday Building, 236-B, Ground Floor, Opposite Apna Bazaar, J.N.
Road, Mulund (West), Mumbai – 400080, Maharashtra, India |
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Tel No.: |
91-22-25690520 / 25671145 |
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Fax No.: |
91-22-25671145 |
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Email ID : |
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PAN No.: |
AAHFM0618F |
CAPITAL STRUCTURE
After 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7751250 |
Equity Shares |
Rs.10/- each |
Rs.77.513 Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3760000 |
Equity Shares |
Rs.10/- each |
Rs.37.600 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
37.600 |
30.500 |
27.543 |
|
(b) Reserves & Surplus |
20.463 |
13.771 |
7.766 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
2.400 |
0.000 |
4.067 |
|
Total
Shareholders’ Funds (1) + (2) |
60.463 |
44.271 |
39.376 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
22.307 |
13.666 |
2.090 |
|
(b) Deferred tax liabilities (Net) |
1.384 |
1.354 |
1.296 |
|
(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) |
23.691 |
15.020 |
3.386 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
160.243 |
113.033 |
42.667 |
|
(b) Trade
payables |
194.025 |
26.642 |
11.035 |
|
(c) Other
current liabilities |
6.308 |
0.480 |
0.397 |
|
(d) Short-term
provisions |
6.769 |
1.198 |
2.560 |
|
Total Current
Liabilities (4) |
367.345 |
141.353 |
56.659 |
|
|
|
|
|
|
TOTAL |
451.499 |
200.644 |
99.421 |
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
13.868 |
14.026 |
13.699 |
|
(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 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.297 |
3.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.732 |
0.972 |
|
Total Non-Current
Assets |
28.265 |
17.858 |
14.771 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
146.459 |
98.403 |
19.233 |
|
(c) Trade
receivables |
241.069 |
69.686 |
59.275 |
|
(d) Cash
and cash equivalents |
18.389 |
2.898 |
1.517 |
|
(e)
Short-term loans and advances |
17.317 |
11.368 |
4.329 |
|
(f) Other
current assets |
0.000 |
0.431 |
0.296 |
|
Total
Current Assets |
423.234 |
182.786 |
84.650 |
|
|
|
|
|
|
TOTAL |
451.499 |
200.644 |
99.421 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
641.821 |
538.902 |
308.059 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
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|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
29.452 |
19.514 |
8.474 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
19.034 |
12.638 |
4.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.418 |
6.876 |
4.201 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.896 |
0.855 |
0.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
9.522 |
6.021 |
3.451 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.830 |
1.058 |
0.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
6.692 |
4.963 |
2.651 |
|
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|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12.729 |
7.766 |
5.115 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
19.421 |
12.729 |
7.766 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.68 |
NA |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
790.000 |
Expected Sales (2014-2015) : Rs. 850.000 Millions
The above information has been parted by Mr. Prasad
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.48 |
1.12 |
1.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.11 |
3.00 |
3.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.14 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.02 |
2.86 |
1.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.29 |
1.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
27.543 |
30.500 |
37.600 |
|
Reserves & Surplus |
7.766 |
13.771 |
20.463 |
|
Share Application money pending allotment |
4.067 |
0.000 |
2.400 |
|
Net
worth |
39.376 |
44.271 |
60.463 |
|
|
|
|
|
|
Long Term borrowings |
2.090 |
13.666 |
22.307 |
|
Short Term borrowings |
42.667 |
113.033 |
160.243 |
|
Total
borrowings |
44.757 |
126.699 |
182.550 |
|
Debt/Equity
ratio |
1.137 |
2.862 |
3.019 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
308.059 |
538.902 |
641.821 |
|
|
|
74.935 |
19.098 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
308.059 |
538.902 |
641.821 |
|
Profit |
2.651 |
4.963 |
6.692 |
|
|
0.86% |
0.92% |
1.04% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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 |
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 |
No |
|
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 LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Bajaj Fineserve |
0.000 |
1.509 |
|
Barclays |
1.847 |
2.884 |
|
Dhanalxmi Bank |
0.817 |
1.267 |
|
HDFC |
1.007 |
1.634 |
|
Kotak AIahlndra Prirne |
0.000 |
0.219 |
|
Magma Fine Corp |
0.690 |
1.448 |
|
Religare Finvest Limited |
1.352 |
2.115 |
|
Tata Capital Limited |
0.504 |
1.786 |
|
Loans from NBF’s and inter Corporate Deposits |
8.180 |
0.000 |
|
Loans from Shareholders |
7.318 |
0.000 |
|
Total |
21.715 |
12.862 |
OUTLOOK:
The board of directors are optimistic of achieving sales target of
Rs.700.000 Millions for the year on account of various tie up for more
products.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10321283 |
05/10/2012 * |
165,000,000.00 |
Bank Of Baroda |
Fort University Branch, Agra Building, 119, M. G. Road, Fort, Mumbai, Maharashtra - 400001, India |
B61137188 |
|
2 |
10321286 |
31/12/2013 * |
256,500,000.00 |
Bank Of Baroda |
Fort University Branch, Agra Building, 119, M. G. Road, Fort, Mumbai, Maharashtra - 400001, India |
B98686215 |
*Date of modification Charges
FIXED ASSETS:
·
Air Conditioner
·
Software
·
Motor Car
·
Honda City
·
Building
·
Plant and Machinery
·
Computer
·
Furniture and Fixture
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 records 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. 61.69 |
|
|
1 |
Rs. 93.41 |
|
Euro |
1 |
Rs. 71.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
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.