MIRA INFORM REPORT
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Report No. : |
303763 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
IRRIGATION PRODUCTS INTERNATIONAL PRIVATE LIMITED |
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Registered
Office : |
Shed No.7, SIDCO Industrial Estate, Mulumitchampatty PO, |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.03.1993 |
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Com. Reg. No.: |
007359 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.452 Millions |
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CIN No.: [Company Identification
No.] |
U00111TZ1993PTC007359 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CMBI03152C |
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PAN No.: [Permanent Account No.] |
AABCI7512H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Total Solution for Water Management, Turnkey Landscape Development, Turf Maintenance Projects and Beautification of Outdoor Landscape and Supplier of Turf Maintenance Equipment for Golf Course Maintenance, YAMAHA Golf Cars, Driving Range Equipment and Golf Accessories, Lake Aerators and Hand Powered Equipment. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 316000 |
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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. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered normal for business dedalings 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 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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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
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 : |
Shed No.7, SIDCO Industrial Estate, Mulumitchampatty PO, |
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Tel. No. : |
91-422- 2655777 |
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Fax No. : |
91-422- 2655777 |
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E-Mail : |
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Website : |
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Head Office : |
4/112, East Coast Road, Neelankarai, Chennai – 600041, Tamilnadu, India |
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Tel. No.: |
91-44-24494386/ 24494387/ 24494389 |
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Fax No.: |
91-44-24494388 |
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E-Mail : |
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Branch Offices: |
Located at · Noida, Uttar Pradesh, India Tel. No.: 91-120-4263286 · Coimbatore, Tamilnadu, India Tel. No.: 91-422-3253414 · Bangalore, Karnataka, India Tel. No.: 91-80-65311588 |
DIRECTORS
As on 19.09.2014
|
Name : |
Mr. Ravi Kumar Garyali |
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Designation : |
Managing Director |
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Address : |
A3 Block, 3, Lakshmima
Apartments, 40A, 4th Seaward Road, Thiruvanmiyur, Chennai -
600041, Tamil Nadu, India |
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Date of Birth/Age : |
17.07.1952 |
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Date of Appointment : |
31.03.1993 |
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DIN No. : |
01141990 |
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Other Directorship :
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Name : |
Mr. Ravinder Misri |
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Designation : |
Director |
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Address : |
Flat B, 26, Orsett Terrace, W2 Baz, London, 365111, United Kingdom |
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Date of Birth/Age : |
23.01.1956 |
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Date of Appointment : |
26.04.1993 |
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DIN No. : |
01994756 |
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Other Directorship :
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Name : |
Durga Misri |
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Designation : |
Director |
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Address : |
J-1, Kailash Colony, New Delhi - 110048, India |
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Date of Birth/Age : |
25.01.1936 |
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Date of Appointment : |
10.10.1993 |
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DIN No. : |
00452103 |
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Other Directorship :
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Name : |
Mr. Pardeep Kumar Sadarangani |
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Designation : |
Director |
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Address : |
84, Sukhmani Building, Bommaniji Pettit Road, Mumbai - 400036,
Maharashtra, India |
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Date of Birth/Age : |
14.11.1967 |
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Date of Appointment : |
06.03.2000 |
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DIN No. : |
02514607 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Garyali Ravi |
85850 |
35.01 |
|
Durga Misri |
100 |
0.04 |
|
Ravindra Misri |
122500 |
49.96 |
|
Pradeep Kumar Sadarangani |
36750 |
14.99 |
|
Total |
245200 |
100.00 |
As on 19.09.2014
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 : |
Providing Total Solution for Water Management, Turnkey Landscape Development, Turf Maintenance Projects and Beautification of Outdoor Landscape and Supplier of Turf Maintenance Equipment for Golf Course Maintenance, YAMAHA Golf Cars, Driving Range Equipment and Golf Accessories, Lake Aerators and Hand Powered Equipment. |
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Products/ Services : |
Products · Mowers · Top Dressers · Aerators · Sprayers · Greens Rollers · Hedge Trimmers · Chain Saws · Blowers ·
Sprayers Services · Water Management, · Turnkey Landscape Development, · Turf Maintenance Projects ·
Beautification of Outdoor Landscape |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
· Punjab and Sind Bank, Adyar Branch, 44/1, First Main Road Gandhinagar Adyar, Chennai - 600020, Tamilnadu, India · The Hongkong and Shanghai Banking Corporation Limited, Nagabrahma Towers, 76, Cathedral Road, Chennai - 600086, Tamilnadu, India · Standard Chartered Bank, Adyar, Chennai, Tamilnadu, India · Indian Bank, Goa, India · Indian Bank, Noida, Uttar Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
T V K Murti and Sridhar Chartered Accountants |
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Address : |
129, Gray Hills, Coonoor – 643101, Tamilnadu, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFT6733A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 19.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
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|
245,200 |
Equity Shares |
Rs.10/- each |
Rs. 2.452 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 |
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|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
2.452 |
2.452 |
2.452 |
|
(b) Reserves & Surplus |
108.174 |
85.939 |
66.026 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
110.626 |
88.391 |
68.478 |
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(3) Non-Current
Liabilities |
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|
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(a) long-term borrowings |
0.205 |
0.574 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.378 |
0.411 |
0.420 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
0.583 |
0.985 |
0.420 |
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(4) Current Liabilities |
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(a) Short
term borrowings |
7.169 |
18.449 |
9.475 |
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(b) Trade
payables |
33.324 |
13.990 |
6.070 |
|
(c) Other
current liabilities |
1.852 |
1.147 |
0.918 |
|
(d) Short-term
provisions |
6.252 |
4.318 |
7.045 |
|
Total Current
Liabilities (4) |
48.597 |
37.904 |
23.508 |
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|
|
|
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TOTAL |
159.806 |
127.280 |
92.406 |
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II.
ASSETS |
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|
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(1) Non-current assets |
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(a) Fixed
Assets |
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|
|
(i)
Tangible assets |
13.286 |
7.148 |
5.236 |
|
(ii)
Intangible Assets |
0.546 |
0.707 |
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 |
1.653 |
1.948 |
1.619 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
5.115 |
|
Total Non-Current
Assets |
15.485 |
9.803 |
11.970 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
37.406 |
31.976 |
28.120 |
|
(c) Trade
receivables |
21.710 |
15.905 |
9.302 |
|
(d) Cash
and cash equivalents |
70.118 |
55.738 |
36.964 |
|
(e) Short-term
loans and advances |
9.942 |
9.541 |
0.593 |
|
(f) Other
current assets |
5.145 |
4.317 |
5.457 |
|
Total
Current Assets |
144.321 |
117.477 |
80.436 |
|
|
|
|
|
|
TOTAL |
159.806 |
127.280 |
92.406 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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|
|
SALES |
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|
|
|
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|
|
Income |
227.588 |
|
|
|
|
|
Other Income |
19.177 |
14.206 |
|
|
|
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TOTAL (A) |
246.765 |
202.098 |
126.370 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.407 |
|
|
|
|
|
Purchases of Stock-in-Trade |
152.639 |
116.880 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(5.431) |
(3.855) |
|
|
|
|
Employees benefits expense |
27.115 |
24.064 |
|
|
|
|
Other expenses |
36.454 |
33.354 |
|
|
|
|
TOTAL (B) |
211.184 |
170.509 |
107.394 (Including
Financial Expenses) |
|
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|
|
|
|
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|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
35.581 |
31.589 |
|
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|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
0.600 |
0.722 |
|
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|
|
|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.981 |
30.867 |
18.976 |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.644 |
1.214 |
0.742 |
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|
|
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|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
33.337 |
29.653 |
18.234 |
|
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|
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|
|
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|
Less |
TAX (H) |
11.102 |
9.740 |
6.077 |
|
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|
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|
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|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
22.235 |
19.913 |
12.157 |
|
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|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
12.391 |
10.344 |
9.749 |
|
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|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
90.68 |
81.21 |
49.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
9.77 |
10.60 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
15.63 |
16.81 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.86 |
23.30 |
19.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.34 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.07 |
0.22 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.97 |
3.10 |
3.42 |
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 |
2.452 |
2.452 |
2.452 |
|
Reserves & Surplus |
66.026 |
85.939 |
108.174 |
|
Net
worth |
68.478 |
88.391 |
110.626 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.574 |
0.205 |
|
Short term borrowings |
9.475 |
18.449 |
7.169 |
|
Total
borrowings |
9.475 |
19.023 |
7.374 |
|
Debt/Equity
ratio |
0.138 |
0.215 |
0.067 |
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) |
|
Total Income |
126.370 |
202.098 |
246.765 |
|
|
|
59.926 |
22.102 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
126.370 |
202.098 |
246.765 |
|
Profit |
12.157 |
19.913 |
22.235 |
|
|
9.62% |
9.85% |
9.01% |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10282444 |
07/02/2011 |
20,800,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
NAGABRAHMA TOWERS,
76, CATHEDRAL ROAD,, CHENNAI, |
B08990137 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and Advances from Related Parties |
0.696 |
0.696 |
|
Other Loans and Advances (Advance from Customers) |
6.124 |
17.446 |
|
Total |
6.820 |
18.142 |
FINANCIAL RESULTS AND
OPERATIONAL PERFORMANCE
The Authorized Capital of the Company remains as Rs. 5.000 Millions of which the Issued, Paid-up and Subscribed Capital is Rs. 2.452 Millions.
The company has recorded a net profit after interest and depreciation (but before tax) of Rs. 33.337 Millions.
The company has made additions to Fixed Assets by Rs. 7.644 Millions during the year 2013-14. The acquisition of all Fixed Assets during the year has already approved by the Board of Directors.
The Directors are glad to inform the shareholders that the company has now been building up Reserves and Surplus which currently stands at Rs. 108.174 Millions.
In the Recent Months there has been a significant adverse exchange fluctuation, resulting in devaluation of rupee, this has correspondingly increased their Import cost and to some extent affected profitability, although efforts have been made by use to pass on the Increase in cost to the customers to some extent.
FIXED ASSETS
TANGIBLE ASSETS
· Land
· Building
· Plant and Equipment
· Plant and Machinery
· Furniture and Fittings
· Vehicles
· Computer
INTANGIBLE ASSETS
· Computer Software
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.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
|
46 |
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.