MIRA INFORM REPORT
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Report No. : |
304242 |
|
Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIDHIVINAYAK
FILAMENTS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Room No.3, First Floor, 259, Johari Mansion, 259, Kalbadevi Road,
Mumbai - 400 002, Maharashtra |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
29.06.1998 |
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Com. Reg. No.: |
11-115562 |
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Capital
Investment / Paid-up Capital : |
Rs. 18.243 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U17110MH1998PTC115562 |
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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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|
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PAN No.: [Permanent Account No.] |
AADCS8676A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Exporter of Polyester DTY Yarn. |
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|
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No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 450000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Profit margin of the company is low. However, net worth of the company
is satisfactory. General financial position of the company is normal and
acceptable for business dealings. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. The company can be considered normal 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.
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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 : |
Room No.3, First Floor, 259, Johari Mansion, 259, Kalbadevi Road, Mumbai
- 400 002, Maharashtra, India |
|
Tel. No.: |
91-22-22406102 |
|
Fax No.: |
91-22-22406102 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Bhagwaniram Mohanlal Bajari |
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Designation : |
Managing Director |
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|
Address : |
801, Mayfair Garden, Azad Lane, Off S.V.Road, Andheri (West), Mumbai -
400 058, Maharashtra, India |
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Date of Birth/Age : |
14.07.1952 |
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Date of Appointment : |
29.06.1998 |
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DIN No.: |
00253810 |
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PAN No.: |
AAWPB6428K |
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Other Directorship :
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|
Name : |
Mr. Arunkumar Bhagwaniram
Bajari |
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Designation : |
Director |
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|
Address : |
801, Mayfair Garden, Azad Lane, Off S.V.Road, Andheri (West), Mumbai -
400 058, Maharashtra, India |
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Date of Birth/Age : |
19.05.1979 |
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Date of Appointment : |
25.08.2001 |
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DIN No.: |
00253910 |
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PAN No.: |
AAWPB6434H |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bhagwani Ram Bajari |
|
118600 |
|
Jagdish Prasad Bajari |
|
10100 |
|
Pankaj Kumar Bajari |
|
10100 |
|
Arun Kumar Bajari |
|
41000 |
|
Anil Kumar Agarwal (HUF) |
|
10000 |
|
Bhagwaniram Bajari (HUF) |
|
10000 |
|
Gordhanlal N. Agarwal |
|
17500 |
|
Laxmidevi Bajari |
|
10000 |
|
Mahesh Kumar Bajari |
|
17500 |
|
Nathmal Sanwarmal Agarwal |
|
17000 |
|
Ramkaran Surjaram Bina |
|
18000 |
|
Rajkumar Inderchand Shiotia |
|
19000 |
|
Ramavtar Agarwal |
|
18000 |
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Rajendra Prasad Bajari |
|
11000 |
|
Bajari Filaments Private Limited, India |
|
1021000 |
|
Bhanwar Lal Agarwal |
|
25000 |
|
Seema Agarwal |
|
45000 |
|
Renu Gupta |
|
20000 |
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Prachi Bajari |
|
25000 |
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Arun Kumar Bajari HUF |
|
20000 |
|
Prraneta Industries Limited |
|
20000 |
|
Dhanus Technologies Limited, India |
|
20000 |
|
Speciality Papers Limited, India |
|
20000 |
|
Emporis Projects Limited, India |
|
20000 |
|
Shri Ganesh Spinners Limited, India |
|
20000 |
|
Vinod V. Parab |
|
2400 |
|
Sonali V. Parab |
|
2400 |
|
Frank Mercantile Private Limited, India |
|
35000 |
|
Astonish Star Minerals Private Limited, India |
|
10000 |
|
Frohar Trading Private Limited, India |
|
37500 |
|
Fulton Corporate Services Private Limited, India |
|
32000 |
|
Neon Trade Mart Private Limited, India |
|
35000 |
|
Rajyoga Minerals Private Limited, India |
|
35000 |
|
Season Multi Trade Private Limited, India |
|
35000 |
|
Neha Bajari |
|
16200 |
|
Total |
|
1824300 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
70.06 |
|
Directors or relatives of Directors |
25.03 |
|
Other top fifty shareholders |
4.91 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Exporter of Polyester DTY Yarn. |
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Products : |
Not Available |
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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
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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)
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Auditors : |
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Name : |
N. M. Agarwal and Company Chartered Accountant |
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Address : |
198/24, 2nd Floor, Kalbadevi Road, Mumbai - 400 002, Maharashtra,
India |
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PAN No.: |
AAAPA6398M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holdings Company : |
Bajari Filaments Private Limited, India CIN No.:
U17110MH1996PTC102307 |
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Associates : |
Rishikesh Filaments Private Limited, India CIN No.:
U24300MH1997PTC109915 Vaibhav Laxmi Filaments Private Limited, India CIN No.:
U17000MH1998PTC115496 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1824300 |
Equity Shares |
Rs.10/- each |
Rs. 18.243
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 |
18.243 |
16.048 |
16.000 |
|
(b) Reserves & Surplus |
138.851 |
97.807 |
88.873 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
1.200 |
|
Total
Shareholders’ Funds (1) + (2) |
157.094 |
113.855 |
106.073 |
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
270.397 |
240.967 |
168.293 |
|
(b) Deferred tax liabilities (Net) |
14.348 |
12.547 |
9.811 |
|
(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) |
284.745 |
253.514 |
178.104 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
156.916 |
148.059 |
105.225 |
|
(b) Trade
payables |
65.225 |
11.542 |
11.694 |
|
(c) Other
current liabilities |
85.011 |
58.151 |
34.019 |
|
(d) Short-term
provisions |
8.478 |
5.602 |
5.973 |
|
Total Current
Liabilities (4) |
315.630 |
223.354 |
156.911 |
|
|
|
|
|
|
TOTAL |
757.469 |
590.723 |
441.088 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
261.183 |
244.318 |
198.502 |
|
(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 |
5.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.278 |
6.855 |
8.564 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
3.259 |
|
Total Non-Current
Assets |
280.461 |
251.173 |
210.325 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
103.577 |
96.177 |
54.693 |
|
(c) Trade
receivables |
259.344 |
184.173 |
131.786 |
|
(d) Cash
and cash equivalents |
27.071 |
31.258 |
13.189 |
|
(e)
Short-term loans and advances |
87.016 |
27.942 |
13.346 |
|
(f) Other
current assets |
0.000 |
0.000 |
17.749 |
|
Total
Current Assets |
477.008 |
339.550 |
230.763 |
|
|
|
|
|
|
TOTAL |
757.469 |
590.723 |
441.088 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2423.748 |
1803.950 |
1318.177 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
90.256 |
74.593 |
54.848 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
39.413 |
36.526 |
26.583 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
50.843 |
38.067 |
28.265 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
31.772 |
26.353 |
16.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
19.071 |
11.714 |
12.065 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.562 |
3.932 |
3.334 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
12.509 |
7.782 |
8.731 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
142.176 |
159.800 |
62.239 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
6.86 |
4.27 |
4.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.52 |
0.43 |
0.66 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
3.72 |
4.13 |
4.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.53 |
1.98 |
2.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.72 |
3.42 |
2.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51 |
1.52 |
1.47 |
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 |
16.000 |
16.048 |
18.243 |
|
Reserves & Surplus |
88.873 |
97.807 |
138.851 |
|
Share Application money pending
allotment |
1.200 |
0.000 |
0.000 |
|
Net
worth |
106.073 |
113.855 |
157.094 |
|
|
|
|
|
|
long-term borrowings |
168.293 |
240.967 |
270.397 |
|
Short term borrowings |
105.225 |
148.059 |
156.916 |
|
Total
borrowings |
273.518 |
389.026 |
427.313 |
|
Debt/Equity
ratio |
2.579 |
3.417 |
2.720 |
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 |
1318.177 |
1803.950 |
2423.748 |
|
|
|
36.852 |
34.358 |
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 |
1318.177 |
1803.950 |
2423.748 |
|
Profit |
8.731 |
7.782 |
12.509 |
|
|
0.66% |
0.43% |
0.52% |
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 |
Yes |
|
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 |
|
|
|
Intercorporate borrowings |
99.034 |
91.099 |
|
Loans and advances from directors |
8.532 |
4.328 |
|
Loans and advances from others |
26.750 |
19.977 |
|
Total |
134.316 |
115.404 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
CHARGE
HOLDER |
ADDRESS |
Service Request Number (SRN) |
|
1 |
10306688 |
26/08/2014 * |
496,300,000.00 |
BANK OF BARODA |
M. J. MARKET
BRANCH, JAI AMBE HOUSE, 1ST FLOOR, CORNER OF MIRZA STREET AND SHEIKH
MEMON STREET, MUMBAI - 400002, MAHARASHTRA, INDIA |
C17967746 |
|
2 |
10306685 |
26/08/2014 * |
496,300,000.00 |
BANK OF BARODA |
M. J. MARKET
BRANCH, JAI AMBE HOUSE, 1ST FLOOR, CORNER OF MIRZA STREET AND SHEIKH
MEMON STREET, MUMBAI - 400002, MAHARASHTRA, INDIA |
C17964081 |
* Date of charge modification
OPERATION
During the year
the Company has achieved Turnover of Rs. 2423.748 Millions as against the
turnover of Rs. 1803.950 Millions of the previous year showing a growth of
34.36%. Despite of depressed conditions prevailing in the economy, the Company
successfully able to promote the product in the overseas market and the
overseas market is very well accepted its products. Barring unforeseen
circumstances your directors hope to achieve better result during the coming
year.
FIXED 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.61.69 |
|
|
1 |
Rs.93.33 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
|
42 |
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.