MIRA INFORM REPORT
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Report No. : |
304976 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
HERTZ CHEMICALS LIMITED |
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Registered
Office : |
213 Saraf Kasker Industrial Estate, Jogeshwari (West), Mumbai-400101, |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
17.02.1986 |
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Com. Reg. No.: |
11-038969 |
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Capital
Investment / Paid-up Capital : |
Rs. 29.038 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1986PLC038969 |
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|
|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH07324C |
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|
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PAN No.: [Permanent Account No.] |
AAACH2664L |
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|
Legal Form : |
A Closely Held Public Limited liability Company |
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Line of Business
: |
Manufacturer of cosmetics products and perfume. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. Management of the company has not filed its financial i.e. 2014 with
the government department. As per available financial of 2013, the financial position of the
company seems to be sound. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually 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.
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 DENIED
Management Non co-operative (91-22-26786931)
LOCATIONS
|
Registered Office : |
213 Saraf Kasker Industrial Estate, Jogeshwari (West), Mumbai-400101, |
|
Tel. No.: |
91-22-26786931 / 26780057 / 23443435 |
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Fax No.: |
91-22-26783852 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Siraj Abdeali Mun |
|
Designation : |
Director |
|
Address : |
1902, Fortune Towers, Co-Operative Housing Limited, 337 Sir J.J. Marg,
Byculla, Mumbai-400008, |
|
Date of Birth/Age : |
15.03.1955 |
|
Date of Appointment : |
17.02.1986 |
|
PAN No.: |
AACPM1804G |
|
DIN No.: |
00435627 |
|
|
|
|
Name : |
Mr. Shabbir Abdeali Mun |
|
Designation : |
Director |
|
Address : |
5, Dalamal Co-Operative Housing Society, Cuffe Parade, Colaba,
Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1950 |
|
Date of Appointment : |
17.02.1986 |
|
PAN No.: |
AABPM4664M |
|
DIN No.: |
00713347 |
|
|
|
|
Name : |
Mr. Akbar Abdeali Mun |
|
Designation : |
Director |
|
Address : |
501, Green Acre, Lokhandwala Complex, Andheri (West), Mumbai-400060,
Maharashtra, India |
|
Date of Birth/Age : |
12.09.1954 |
|
Date of Appointment : |
17.02.1986 |
|
PAN No.: |
AABPM3580C |
|
DIN No.: |
00435413 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mun Shabbir Abdeali |
467188 |
16.09 |
|
Mun Akbar Abdeali |
386688 |
13.32 |
|
Mun Siraj Abdeali |
323437 |
11.14 |
|
Mun Fehmida Abdeali |
258750 |
8.91 |
|
Mun Nafisa Asgar |
725937 |
25.00 |
|
Mun Sakina Akbar |
339250 |
11.68 |
|
Mun Tasneem Siraj |
402500 |
13.86 |
|
Total |
2903750 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of cosmetics products and perfume. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
I .C. Dak and Company Chartered Accountants |
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Address : |
A-208, Super Shopping Complex, Bajaj Cross Road, Kandivali (west), Mimbai, Maharashtra, India |
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PAN No.: |
AABFI3465Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties : |
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CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2903750 |
Equity Shares |
Rs.10/- each |
Rs. 29.038 Millions |
|
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
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|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
29.038 |
29.038 |
29.038 |
|
(b) Reserves &
Surplus |
265.902 |
217.277 |
221.970 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
294.940 |
246.315 |
251.008 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
4.630 |
6.113 |
1.968 |
|
(c) Other long term
liabilities |
8.650 |
8.258 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
13.280 |
14.371 |
1.968 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
304.880 |
166.033 |
105.220 |
|
(b) Trade payables |
225.675 |
239.837 |
136.357 |
|
(c) Other current
liabilities |
13.362 |
11.985 |
1.626 |
|
(d) Short-term provisions |
14.334 |
7.985 |
6.746 |
|
Total Current Liabilities
(4) |
558.251 |
425.840 |
249.949 |
|
|
|
|
|
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TOTAL |
866.471 |
686.526 |
502.925 |
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|
|
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II.
ASSETS |
|
|
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|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
171.173 |
130.801 |
105.768 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
5.490 |
9.286 |
5.322 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
14.449 |
|
(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 |
0.000 |
1.853 |
|
Total Non-Current Assets |
176.663 |
140.087 |
127.392 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
13.394 |
14.449 |
0.000 |
|
(b) Inventories |
205.050 |
167.443 |
124.276 |
|
(c) Trade receivables |
363.395 |
295.666 |
239.007 |
|
(d) Cash and cash
equivalents |
5.316 |
6.729 |
3.618 |
|
(e) Short-term loans and
advances |
13.569 |
15.673 |
3.047 |
|
(f) Other current assets |
89.084 |
46.479 |
5.585 |
|
Total Current Assets |
689.808 |
546.439 |
375.533 |
|
|
|
|
|
|
TOTAL |
866.471 |
686.526 |
502.925 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1515.050 |
1167.533 |
1090.669 |
|
|
Other Income |
0.877 |
0.464 |
0.360 |
|
|
TOTAL (A) |
1515.927 |
1167.997 |
1091.029 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
872.712 |
750.354 |
788.688 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
10.179 |
7.818 |
(14.244) |
|
|
Employees benefits
expense |
57.249 |
40.046 |
31.503 |
|
|
Other expenses |
169.592 |
139.980 |
112.527 |
|
|
TOTAL (B) |
1109.732 |
938.198 |
918.474 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
406.195 |
229.799 |
172.555 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
7.249 |
4.734 |
1.964 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
398.946 |
225.065 |
170.591 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.016 |
23.044 |
19.653 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
369.930 |
202.021 |
150.938 |
|
|
|
|
|
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|
Less |
TAX (H) |
118.817 |
71.722 |
54.886 |
|
|
|
|
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|
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|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
251.113 |
130.299 |
96.052 |
|
|
|
|
|
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|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (J) |
106.457 |
124.650 |
309.480 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
37.000 |
13.500 |
10.000 |
|
|
Dividend Tax |
28.264 |
18.842 |
38.582 |
|
|
Interim Dividend |
174.225 |
116.150 |
232.300 |
|
|
Total (K) |
239.489 |
148.492 |
280.882 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (I+J-K) |
118.081 |
106.457 |
124.650 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1391.678 |
1037.399 |
833.159 |
|
|
TOTAL EARNINGS |
1391.678 |
1037.399 |
833.159 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
90.081 |
58.968 |
42.157 |
|
|
TOTAL IMPORTS |
90.081 |
58.968 |
42.157 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
86.48 |
44.87 |
33.08 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
16.57 |
11.16 |
8.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
26.81 |
19.68 |
15.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
42.97 |
29.83 |
31.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.25 |
0.82 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.03 |
0.67 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.28 |
1.50 |
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 |
29.038 |
29.038 |
29.038 |
|
Reserves & Surplus |
221.970 |
217.277 |
265.902 |
|
Net worth |
251.008 |
246.315 |
294.940 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
105.220 |
166.033 |
304.880 |
|
Total borrowings |
105.220 |
166.033 |
304.880 |
|
Debt/Equity ratio |
0.419 |
0.674 |
1.034 |
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 |
1090.669 |
1167.533 |
1515.050 |
|
|
|
7.047 |
29.765 |
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 |
1090.669 |
1167.533 |
1515.050 |
|
Profit |
96.052 |
130.299 |
251.113 |
|
|
8.81% |
11.16% |
16.57% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS IS 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 |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION
DETAILS:
|
Case Details |
|
Bench:-Bombay |
|
Presentation
Date:- |
08/04/2014 |
|||||||
|
Lodging
No.:- |
ITXAL/785/2014 |
Filing
Date:- |
08/04/2014 |
Reg.
No.:- |
ITXA/1175/2014 |
Reg.
Date:- |
28/07/2014 |
|
|
Petitioner:-
|
THE COMMISSIONER
OF INCOME TAX-8, - |
Respondent:- |
M/s. HERTZ CHEMICALS
LIMITED |
|
Petn.Adv.:- |
ARVIND PINTO (1583) |
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Next
Date:- |
23/02/2015 |
Stage:- |
|
Coram:- |
ACCORDING TO SITTING LIST |
|
ACCORDING TO SITTING LIST |
|
Act
:- |
Income Tax Act, 1961 |
Under
Section:- |
260A |
OPERATIONS
Sales and other income for the year amounted Rs.1515.049 Millions as compared to Rs. 1167.532 Millions for the previous year Exports sales during the year amounted to Rs. 1391.678 Millions as against the previous year export sales of Rs. 1037.399 Millions. The profit after tax for the year amounted to Rs. 251.113 Millions as against Rs. 130.299 Millions in the previous year.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
136.438 |
24.603 |
|
Total |
136.438 |
24.603 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10403637 |
29/11/2014 * |
350,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C38106217 |
* Date of charge modification
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. 61.49 |
|
|
1 |
Rs. 92.16 |
|
Euro |
1 |
Rs. 69.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
48 |
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.