MIRA INFORM REPORT
|
Report No. : |
304360 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
MINITEK SYSTEMS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Pingale Complex, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.03.2000 |
|
|
|
|
Com. Reg. No.: |
11-124815 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72100MH2000PTC124815 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKM02789D |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealer and Distributor of Computer Peripherals. |
|
|
|
|
No. of Employees
: |
125 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealings 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
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 PARTED BY
|
Name : |
Mr. Satish Pagar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-253-2310686 |
|
Date : |
20.01.2015 |
LOCATIONS
|
Registered Office : |
1st Floor, Pingale Complex, Ghanekar Lane, Ravivar Karanja,
Nashik-422001, Maharashtra, India |
|
Tel. No.: |
91-253-2310686 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Showroom : |
Head- Retail Services, Compaq Presario Showroom, Arvind Chambers, Below
Central Bank, Shranpur Road, Nashik – 422002, Maharashtra, India |
|
Tel. No.: |
91-253-317219 |
|
|
|
|
Branch Office : |
Located At: ·
Mumbai ·
Aurangabad ·
Pune |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rajiv Ramchandra Gite |
|
Designation : |
Managing Director |
|
Address : |
18, Mangalya, Boystown Road, Opposite Water Purification Tank, Off
Trimbak Road, Nasik-422005, Maharashtra, India |
|
Date of Birth/Age : |
31.05.1973 |
|
Date of Appointment : |
10.03.2000 |
|
DIN No.: |
00647394 |
|
|
|
|
Name : |
Mrs. Archana Rajiv Gite |
|
Designation : |
Director |
|
Address : |
18, Mangalya, Boystown Road, Opposite Water Purification Tank, Off
Trimbak Road, Nasik-422005, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1980 |
|
Date of Appointment : |
30.10.2009 |
|
DIN No.: |
02742168 |
KEY EXECUTIVES
|
Name : |
Mr. Satish Pagar |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Prasant Mohite |
|
Designation : |
Credit Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Rajiv Ramchandra Gite |
|
9998 |
|
Trupti Nitin Gite |
|
2002 |
|
|
|
|
|
Total |
|
12000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Distributor of Computer Peripherals. |
|
|
|
|
Products : |
Computer Peripherals |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Advance Payment |
|
|
|
|
Purchasing : |
Cash, Advance Payment |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
125 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India · Shri Samarth Sahakari Bank Limited, Naroshankar, Rajebahadur Compound, M.G. Road, Nashik – 422001, Maharashtra, India · HDFC Bank Limited |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Satish Ganpat Kothule Chartered Accountants |
|
Address : |
Row H.13, Hamelia Garden Cooperative Society, Anand Nagar, Behind
Akashwani Tower, Off Gangapur Road, Nashik – 422013, Maharashtra, India |
|
Mobile No.: |
91-9371074611 |
|
E-mail : |
|
|
PAN No.: |
AHDPK5715A |
|
|
|
|
Membership : |
-- |
|
|
|
|
Sister Concern : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000 |
Equity Shares |
Rs.100/- each |
Rs.12.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000 |
Equity Shares |
Rs.100/- each |
Rs.1.200 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 |
1.200 |
0.875 |
0.875 |
|
(b) Reserves & Surplus |
28.089 |
26.216 |
17.768 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.125 |
0.125 |
|
Total
Shareholders’ Funds (1) + (2) |
29.289 |
27.216 |
18.768 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
17.355 |
10.805 |
4.724 |
|
(b) Deferred tax liabilities (Net) |
0.247 |
0.103 |
0.000 |
|
(c) Other long term
liabilities |
0.351 |
0.351 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
17.953 |
11.259 |
4.724 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
31.330 |
20.889 |
16.508 |
|
(b) Trade
payables |
81.501 |
89.945 |
49.413 |
|
(c) Other
current liabilities |
1.937 |
3.247 |
3.346 |
|
(d) Short-term
provisions |
3.500 |
7.998 |
5.072 |
|
Total Current
Liabilities (4) |
118.268 |
122.079 |
74.339 |
|
|
|
|
|
|
TOTAL |
165.510 |
160.554 |
97.831 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
19.789 |
18.063 |
4.655 |
|
(ii)
Intangible Assets |
0.026 |
0.043 |
0.072 |
|
(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 |
0.396 |
0.199 |
0.199 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.065 |
|
(d) Long-term Loan and Advances |
5.898 |
2.959 |
1.190 |
|
(e) Other
Non-current assets |
7.755 |
0.981 |
0.197 |
|
Total Non-Current
Assets |
33.864 |
22.245 |
6.378 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
43.936 |
47.876 |
26.835 |
|
(c) Trade
receivables |
67.496 |
76.755 |
50.559 |
|
(d) Cash
and cash equivalents |
14.454 |
7.195 |
9.866 |
|
(e)
Short-term loans and advances |
1.927 |
1.192 |
0.801 |
|
(f) Other
current assets |
3.833 |
5.291 |
3.392 |
|
Total
Current Assets |
131.646 |
138.309 |
91.453 |
|
|
|
|
|
|
TOTAL |
165.510 |
160.554 |
97.831 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Turnover of Sales & Services |
440.223 |
634.009 |
418.376 |
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
10.681 |
17.578 |
14.376 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
6.166 |
4.186 |
4.111 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.515 |
13.392 |
10.265 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
1.703 |
0.922 |
0.607 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
2.812 |
12.470 |
9.658 |
|
|
|
|
|
|
|
|
|
|
TAX |
0.939 |
4.022 |
3.013 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1.873 |
8.448 |
6.645 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
156.08 |
970.74 |
759.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.70 |
7.78 |
9.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.46 |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.66 |
1.16 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.13 |
1.23 |
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 |
0.875 |
0.875 |
1.200 |
|
Reserves & Surplus |
17.768 |
26.216 |
28.089 |
|
Share Application money pending
allotment |
0.125 |
0.125 |
0.000 |
|
Net
worth |
18.768 |
27.216 |
29.289 |
|
|
|
|
|
|
long-term borrowings |
4.724 |
10.805 |
17.355 |
|
Short term borrowings |
16.508 |
20.889 |
31.330 |
|
Total
borrowings |
21.232 |
31.694 |
48.685 |
|
Debt/Equity
ratio |
1.131 |
1.165 |
1.662 |
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 |
|
Gross Turnover of Sales & Services |
418.376 |
634.009 |
440.223 |
|
|
|
51.540 |
(30.565) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Gross Turnover of Sales & Services |
418.376 |
634.009 |
440.223 |
|
Profit |
6.645 |
8.448 |
1.873 |
|
|
1.59% |
1.33% |
0.43% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
OPERATIONAL & FINANCIAL HIGHLIGHTS:
The sales and services turnover of the Company has decreased by Rs. 196.300 Millions as compared to earlier year. This was due to the sluggish demand for computers, software and other computer hardware in the Indian Economy in general and Maharashtra State in particular.
The Net Profit before Tax got reduced by Rs. 9.658 Millions, mainly due to decreased turnover of hardware and software sales, and partly due to increase in depreciation by Rs.0.781 Millions and also increase in Interest and Finance charges by Rs.1.980 Millions, as compared to the previous year.
The bottom line could not show improvement, due to decreased margin on sale of the computers, software, and other accessories, in the environment of stiff completion. Overall Net Margin decreased by 0.97% as compared to the previous year.
EXPANSION STRATEGY AND FUTURE PLANS:
Subject has opened branches at Pune and Mumbai this year. In Pune, subject has purchased its own full-fledged AC Office at Paud Road, mainly for catering to the hardware, software and IT solutions needs of Pune. In Mumbai, your company is concentrating mainly on maintenance contracts of Indian Navy and other Govt. and Private sector companies.
Subject proposes to concentrate on the sale of branded software and IT Solution products. Subject also proposes to concentrate on sale of branded computers and peripherals to the Industrial customers, Educational Institutions and Dealers. Subject would get more AMCs signed this year.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Business Loan from Bajaj Finserv Limited (repayable in 36 installments, as per EMI Chart) |
2.337 |
0.301 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
From other parties |
|
|
|
From Bank (Flexi
loan from Standard Chartered Bank, Mumbai) |
15.120 |
13.728 |
|
|
|
|
|
Total |
17.457 |
14.029 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10449394 |
31/08/2013 |
5,518,092.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B85155166 |
|
2 |
10389478 |
30/11/2012 |
8,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B63145411 |
|
3 |
10064184 |
13/05/2014 * |
18,000,000.00 |
SHRI SAMARTH SAHAKARI BANK LIMITED |
NAROSHANKAR, RAJEBAHADUR BUILDING,, MAHATMA GANDHI ROAD, NASHIK, MAHARASHTRA - 422001, INDIA |
C05333893 |
*Date of modification Charges
FIXED ASSETS:
·
Furniture and Fixtures
·
Computer and Printers
·
UPS System for Office
·
Software for Office Use
·
Office Equipments and Tools
·
Mobile Phones
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.61.85 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
41 |
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.