MIRA INFORM REPORT

 

 

Report No. :

329912

Report Date :

02.07.2015

 

IDENTIFICATION DETAILS

 

Name :

RADHA INDUSTRIES PRIVATE LIMITED

 

 

Registered Office :

Plot No.32 and 34, SIDCO Industrial Estate, Vitchoor, Manali, Chennai – 600 103, Tamilnadu

Tel. No.:

91-44-32536817

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

07.03.2005

 

 

Com. Reg. No.:

18-055582

 

 

Capital Investment / Paid-up Capital :

Rs.97.500 million

 

 

CIN No.:

[Company Identification No.]

U27104TN2005PTC055582

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHER07458D

 

 

PAN No.:

[Permanent Account No.]

AACCR9832N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading in Iron and Steel Products, including M.S. Scrap as well as Coal.

 

 

No. of Employees :

15 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a private limited company incorporated in the year 2005, having moderate track.

 

Company has reported less reserves and low profit margin in financial year 2014.

 

However, trade relations are fair. Business is active. Payment terms are slow but correct.

 

The company can be considered for business dealings with some caution. 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

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 31-03-2013.

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Yashpal Maniram Sharma

Designation :

Director

Contact No.:

91-9383334343

Date :

01.07.2015

 

 

LOCATIONS

 

Registered Office :

Plot No.32 and 34, SIDCO Industrial Estate, Vitchoor, Manali, Chennai – 600 103, Tamilnadu, India

Tel. No.:

91-44-32536817

Mobile No.:

91-9383334343 (Mr. Yashpal Maniram Sharma)

Fax No.:

Not Available

E-Mail :

aathreya2011@gmail.com

radhainds@gmail.com

Location :

Owned

 

 

Corporate Office/ Administrative Office :

New No.39 (Old No.18), Sembudoss Street, Parrys, Chennai – 600 001, Tamilnadu, India

Tel. No.:

91-44-42162180

Fax No.:

91-44-25267272

Area :

2000 sq. ft.

Location :

Rented

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mrs. Nitu Yashpal Sharma

Designation :

Director

Address :

927, 16th Main Road, Anna Nagar, Chennai – 600 040, Tamilnadu, India

Date of Birth/Age :

24.12.1984

Date of Appointment :

17.03.2005

DIN No.:

00404970

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27104TN2005PTC055582

RADHA INDUSTRIES PRIVATE LIMITED

Director

17/03/2005

17/03/2005

-

Active

NO

2

U27310TN2007PTC063864

RADHA VYAPAR (INDIA) PRIVATE LIMITED

Director

07/06/2007

07/06/2007

-

Active

NO

 

 

Name :

Mr. Yashpal Maniram Sharma

Designation :

Director

Address :

927, 16th Main Road, Anna Nagar, Chennai – 600 040, Tamilnadu, India

Date of Birth/Age :

21.10.1977

Date of Appointment :

17.03.2005

DIN No.:

01212656

PAN No.:

AALPY9085A

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27104TN2005PTC055582

RADHA INDUSTRIES PRIVATE LIMITED

Director

17/03/2005

17/03/2005

-

Active

NO

2

U27310TN2007PTC063864

RADHA VYAPAR (INDIA) PRIVATE LIMITED

Director

07/06/2007

07/06/2007

-

Active

NO

3

U27100TN2008PTC065927

NEW BHARATH IRON AND STEELS COMPANY PRIVATE LIMITED

Director

03/01/2008

03/01/2008

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

 

No. of Shares

Yashpal Sharma

 

3009300

Nitu Sharma

 

233600

Maniram Sharma

 

493600

Birmati Sharma

 

498000

Bhagwan Dutt Sharma

 

110000

Puran Chand Sharma

 

125000

Som Dutt Sharma

 

31500

Gopal Sharma

 

80000

Jai Kishan Sharma

 

27000

Jaipal Singh

 

255000

Shamsher Singh Rana

 

20000

Ram Singh Rana

 

219000

Rampal Sharma

 

110000

Ramesh Sharma

 

425000

Ashok Kumar Sharma

 

32000

Bramduth Sharma

 

201000

Asha

 

60000

Ashwini Kumar Sharma

 

12500

Rakesh Sharma

 

65000

Ramdiya Sharma

 

30000

Sanjiv Kumar

 

30000

Sathyavan Sharma

 

180000

Varsha

 

25000

Vijay Sharma

 

25000

Rama Swaroop Sharma

 

1575000

Sahdev Ram Choudhry

 

1350000

Anju Sharma

 

136500

Manoj Kumar

 

194000

Meenu Kumar

 

15000

Pawan Kumar

 

25000

Prem Kumar

 

27000

Satyavan Sharma

 

50000

Sharada

 

50000

Vijayakumar Pareek

 

30000

Total

 

9750000

 

AS ON 30.09.2014

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trading in Iron and Steel Products, including M.S. Scrap as well as Coal.

 

 

Products :

Item Code No.

 

Product Description

72149000

Re-Rolled Steel Products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

 

Products :

·         Raw Materials

Countries :

·         Switzerland

·         Dubai

·         United States

·         Europe

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

L/C, Cash and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality

Delivery Behaviour

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

15 (Approximately)

 

 

Bankers :

Banker Name

IDBI Bank Limited

Branch Address

37, P.M. Towers, MSE, Greams Road, Chennai – 600 006, Tamilnadu, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

·         IDBI Bank Limited, Saidapet Branch, Chennai – 600 015, Tamilnadu, India

·         Kotak Mahindra Bank Limited

·         HDFC Bank Limited, Mount Road Branch, Chennai – 600 002, Tamilnadu, India

·         IDBI Bank Limited, T.C. Street Branch, Chennai – 600 001, Tamilnadu, India

 

 

Facilities :

Secured Loans

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG-TERM BORROWINGS

 

 

Loans taken for vehicles

0.562

1.038

SHORT-TERM BORROWINGS

 

 

Rupee term loans from banks

97.439

0.000

Loans repayable on demand from banks

0.000

101.135

Total

98.001

102.173

 

Banking Relations :

--

 

 

Auditors :

 

Name :

SRJ Associates

Chartered Accountants

Address :

#16/1, II  Main Road, Kasturba Nagar, Adyar, Chennai – 600 020, Tamilnadu, India

Tel. No.:

91-44-42162180

E-Mail :

radhainds@gmail.com

Income-tax PAN of auditor or auditor's firm :

AABFS1382A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :

Radha Vyapar (India) Private Limited, India (CIN No.: U27310TN2007PTC063864)

 

 

Other Related Parties :

Radha Automobiles

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

10000000

Equity Shares

Rs.10/- each

Rs.100.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

9750000

Equity Shares

Rs.10/- each

Rs.97.500 million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

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

97.500

47.000

20.800

(b) Reserves & Surplus

38.537

31.302

27.634

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

13.000

26.200

Total Shareholders’ Funds (1) + (2)

136.037

91.302

74.634

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.562

1.038

0.598

(b) Deferred tax liabilities (Net)

1.308

1.335

1.238

(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)

1.870

2.373

1.836

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

102.794

101.135

99.682

(b) Trade payables

172.748

91.476

23.168

(c) Other current liabilities

18.337

0.946

0.957

(d) Short-term provisions

4.535

0.297

0.652

Total Current Liabilities (4)

298.414

193.854

124.459

 

 

 

 

TOTAL

436.321

287.529

200.929

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

11.811

12.795

12.836

(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

8.268

3.241

3.094

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

20.079

16.036

15.930

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

129.468

82.496

39.535

(c) Trade receivables

217.629

92.963

56.593

(d) Cash and cash equivalents

17.262

19.069

16.579

(e) Short-term loans and advances

51.783

76.840

72.142

(f) Other current assets

0.100

0.125

0.150

Total Current Assets

416.242

271.493

184.999

 

 

 

 

TOTAL

436.321

287.529

200.929

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Turnover

1771.151

1383.555

980.529

 

 

Other Income

NA

NA

1.106

 

 

TOTAL                                    

NA

NA

981.635

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

977.294

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

10.134

5.072

4.341

 

 

 

 

 

Less

TAX                                                                 

2.899

1.404

1.182

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

7.235

3.668

3.159

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

0.74

0.78

1.52

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Net cash flows from (used in) operations

(21.180)

6.556

24.629

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.41

0.27

0.32

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.32

1.76

2.16

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.07

0.06

0.06

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.76

1.12

1.34

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.39

1.40

1.49

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

20.800

47.000

97.500

Reserves & Surplus

27.634

31.302

38.537

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

26.200

13.000

0.000

Net worth

74.634

91.302

136.037

 

 

 

 

Long-term borrowings

0.598

1.038

0.562

Short term borrowings

99.682

101.135

102.794

Total borrowings

100.280

102.173

103.356

Debt/Equity ratio

1.344

1.119

0.760

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Turnover

980.529

1383.555

1771.151

 

 

41.103

28.014

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Turnover

980.529

1383.555

1771.151

Profit

3.159

3.668

7.235

 

0.32%

0.27%

0.41%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity-Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

Yes

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

Note:

The registered office of the company has been shifted from No.18, Cross Road, New Washermenpet, Chennai – 600 081, Tamilnadu to the present address w.e.f. 16.07.2007.

 

OPERATIONS:

 

During the year, the company ventured in to import of scrap and coal by importing and trading from countries such as Sweden, Dubai, U.K and Indonesia. The income of the company also includes income by way of letting out the re-rolling mill belonging to the company on rent. The reduction in the operating profit margin is due to discontinuance of manufacturing operations from November 2011 onwards. However, the trading turnover witnessed a substantial increase of 28.01% as compared to the previous financial year 2012-13.

 

OUTLOOK FOR THE FUTURE:

 

The company does not foresee a major demand for steel business in the next financial year due to continued recession worldwide and in particular the steel industry in India. The company, however, expects a major increase in business volume for the import of coal, which is in need for many power plants all over India. The company also expects that the Government shall give a major thrust for infrastructure development, which will enable the company to maintain and achieve a minimum sale volume of Rs.150.000 million per month. The company will continue to be a major player in the re-rolling and scrap sector in steel industry in Chennai and is confident of making its presence felt in the import of scarp and coal in Chennai.

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

SHORT-TERM BORROWINGS

 

 

Rupee term loans from others

5.355

0.000

Total

5.355

0.000

 

INDEX OF CHARGES:

 

S.

No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10056604

05/11/2013 *

190,000,000.00

IDBI BANK LIMITED

37, P.M. TOWERS, MSE, GREAMS ROAD, CHENNAI, TAMILNADU - 600006, INDIA

B91697243

 

* Date of charge modification

 

FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 records 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.63.62

UK Pound

1

Rs.99.89

Euro

1

Rs.70.77     

 

 

INFORMATION DETAILS

 

Information Gathered by :

SPR

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

30

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.