MIRA INFORM REPORT
|
Report No. : |
303983 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
RENATA PRECISION COMPONENTS PRIVATE LIMITED |
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|
|
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Registered
Office : |
J – 526, MIDC, Bhosari, Pune – 411026, |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.04.2006 |
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Com. Reg. No.: |
11-128359 |
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Capital
Investment / Paid-up Capital : |
Rs. 22.500 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U29299PN2006PTC128359 |
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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.] |
PNER08222E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporters and Importers of
High Precision Plastic Components and Metal Components, Plastic Components
for Automotive Electric and Electronics. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 180000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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/ Unit I : |
J – 526, MIDC, Bhosari, Pune – 411026, Maharashtra, India |
|
Tel. No.: |
91-20-66114920 |
|
Mobile No.: |
91-98812561061 (Mr. A. Reddy) |
|
Fax No.: |
91-20-66114921 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Unit II : |
Gat No. 754, A/P : Karandi, Taluka Shirur, Pune – 41220026, |
DIRECTORS
As on 22.09.2014
|
Name : |
Mr. Rohit Srichand Thawani |
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|
Designation : |
Managing Director |
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|
Address : |
D 31, Marigold Kalyani Nagar, Pune-411014, |
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Date of Birth/Age : |
17.07.1965 |
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Date of Appointment : |
31.03.2007 |
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DIN No.: |
01870022 |
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Other Directorship :
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Name : |
Ms. Namrata Rohit Thawani |
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Designation : |
Director |
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|
Address : |
D 31, Marigold Phase I Co – Operative Housing Society Kalyani Nagar, Pune-411014, |
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Date of Birth/Age : |
27.09.1972 |
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Date of Appointment : |
20.04.2006 |
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DIN No.: |
01883566 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. C. V. Kulkarni |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 2, B Wing, Suyash Apartments, 769/770, Sadashiv Peth, Barrister
Gadgil Street, Pune – 411030, Maharashtra, India |
|
Qualification : |
B.com, LL.B, F.C.S. |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2014
|
Names of Shareholders |
No. of Shares |
% of holding |
|
Rolhit Thawani |
2209000 |
98.18 |
|
Namrata Thawani |
41000 |
1.82 |
|
Total |
2250000 |
100.00 |
As on 22.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporters and Importers of
High Precision Plastic Components and Metal Components, Plastic Components
for Automotive Electric and Electronics. |
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|
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|
Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
S P Shah and Company Chartered Accountants |
|
Address : |
2, Pramukh Parkl Apartments, Shukrawar Peth, Sathe Colony,
Pune-411002, |
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Tel. No.: |
91-20-24479236/ 24479091 |
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E-Mail : |
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PAN No.: |
ACQPS4695F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
·
Renata Lighting Private limited |
CAPITAL STRUCTURE
As on 22.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2250000 |
Equity Shares |
Rs.10/- each |
Rs. 22.500
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
22.500 |
22.500 |
14.700 |
|
(b) Reserves & Surplus |
39.234 |
18.588 |
16.065 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
2.000 |
|
Total
Shareholders’ Funds (1) + (2) |
61.734 |
41.088 |
32.765 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
59.588 |
62.376 |
71.971 |
|
(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) |
59.588 |
62.376 |
71.971 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
50.648 |
56.613 |
58.534 |
|
(b) Trade
payables |
25.103 |
19.084 |
31.040 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term
provisions |
16.318 |
4.747 |
8.924 |
|
Total Current
Liabilities (4) |
92.069 |
80.444 |
98.498 |
|
|
|
|
|
|
TOTAL |
213.391 |
183.908 |
203.234 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
92.646 |
78.490 |
83.230 |
|
(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 |
0.000 |
0.000 |
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 |
0.000 |
0.153 |
0.112 |
|
Total Non-Current
Assets |
92.646 |
78.643 |
83.342 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
62.546 |
54.326 |
60.196 |
|
(c) Trade
receivables |
40.834 |
31.202 |
36.723 |
|
(d) Cash
and cash equivalents |
1.533 |
0.193 |
0.930 |
|
(e)
Short-term loans and advances |
7.666 |
13.486 |
14.544 |
|
(f) Other
current assets |
8.166 |
6.058 |
7.499 |
|
Total
Current Assets |
120.745 |
105.265 |
119.892 |
|
|
|
|
|
|
TOTAL |
213.391 |
183.908 |
203.234 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
377.971 |
239.121 |
210.968 |
|
|
|
Other Income |
1.164 |
1.089 |
0.738 |
|
|
|
TOTAL |
379.135 |
240.210 |
211.706 |
|
|
|
|
|
|
|
|
Less |
EXPENSES TOTAL |
339.409 |
205.124 |
180.436 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
35.086 |
31.270 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
17.661 |
15.821 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(Including
Interest and Depreciation Expense) |
17.425 |
15.449 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
13.452 |
11.793 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
39.726 |
3.973 |
3.656 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.500 |
1.450 |
0.810 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
27.226 |
2.523 |
2.846 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
49.718 |
32.738 |
19.456 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase |
18.458 |
10.621 |
11.711 |
|
|
|
Capital Goods |
16.882 |
0.000 |
16.837 |
|
|
TOTAL IMPORTS |
35.340 |
10.621 |
28.548 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.10 |
1.12 |
1.26 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
7.20 |
1.06 |
1.35 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
10.51 |
14.67 |
14.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.62 |
2.16 |
1.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.64 |
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.79 |
2.90 |
3.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.31 |
1.22 |
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 |
14.700 |
22.500 |
22.500 |
|
Reserves & Surplus |
16.065 |
18.588 |
39.234 |
|
Share Application money pending
allotment |
2.000 |
0.000 |
0.000 |
|
Net
worth |
32.765 |
41.088 |
61.734 |
|
|
|
|
|
|
long-term borrowings |
71.971 |
62.376 |
59.588 |
|
Short term borrowings |
58.534 |
56.613 |
50.648 |
|
Total
borrowings |
130.505 |
118.989 |
110.236 |
|
Debt/Equity
ratio |
3.983 |
2.896 |
1.786 |
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) |
|
Revenue from operations |
210.968 |
239.121 |
377.971 |
|
|
|
13.345 |
58.067 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
210.968 |
239.121 |
377.971 |
|
Profit |
2.846 |
2.523 |
27.226 |
|
|
1.35% |
1.06% |
7.20% |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Loans from related parties |
0.000 |
0.350 |
|
From Other Parties |
0.000 |
5.158 |
|
Total |
0.000 |
5.508 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
CHARGE HOLDER |
ADDRESS |
Service Request
Number (SRN) |
|
1 |
10114709 |
22/09/2014 * |
272,000,000.00 |
AXIS BANK
LIMITED |
CORPORATE
BANKING BRANCH, 214/215, CITY MALL, S.NO. 132, PLOT NO.1, GANESHKHIND (UNIVERSITY
ROAD, PUNE, MAHARASHTRA - 411007, INDIA |
C29543402 |
|
2 |
10077424 |
25/10/2007 |
9,975,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
SURYAKIRAN HOTEL
BUILDING, 1ST FLOOR, C-8, MUMBAI PUNE ROAD, CHINCHWAD, PUNE,
MAHARASHTRA - 411019, |
A27858919 |
* Date of charge modification
BUSINESS OPERATIONS:
PERFORMANCE
During the year, the revenue from operations has
increased by 58% as compared to previous year. The net profits after tax stood
at 7.20% as against 1.06% in the preceding year.
The turnover has jumped mainly due to addition
of new customers which accounted for 66% of the increase in sales and increase
in business with existing customers due to addition of new components.
The company has bagged a valuable order from
Rieter, a Textiles Machine Manufacturer. This resulted into increase in sales
and reduction of dependence on Auto Sector.
ACHIEVEMENTS
In the month of October, 2013 the Volkswagen
has presented a “Quality Performance” award to the company at their Vendor
meet.
The company was invited by Keihin to present
to Keihin suppliers at their Vendor meet for success in quality performance.
These opportunities to present the company to
the business community have enhanced company’s reputation as a “Quality”
supplier of precision components. Further, the success in quality performance
is now being seen in company’s financial performance.
FUTURE OUTLOOK
Despite the sluggish growth of the Indian
economy, the company has performed well during 2013-2014. Due to the intake of
new orders, the outlook for 2014-2015 is very positive.
In view of the opportunities for further expansion
and new orders in hand, the company has undertaken construction of a new
building at the Karandi Plant, which is expected to be competed in August 2014.
Substantial expansion of Moulding capacity is planned for 2014-2015 at the
Karandi Plant. Further, Stamping capacity has been enhanced since April 2014,
which will give a boost to the stamping business. Significant investment is
planned for the Tool Room to both increase capacity as well as increase
capabilities.
FIXED ASSETS
- Building and Shed
- Building and
Shed – Shikarapur
- Cars and
Motor Cycle
- Computer
- Furniture and
Fixture
- Plant and
Machinery
- Land
- Moulds
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.93.26 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KLS |
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 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
|
43 |
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.