MIRA INFORM REPORT
|
Report No. : |
330394 |
|
Report Date : |
07.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
J PAN TUBULAR
COMPONENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A- 44 , Basement , Amar Colony, Lajpat Nagar - IV , New Delhi - 110024 |
|
Tel. No.: |
91-9560691677 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.05.2007 |
|
|
|
|
Com. Reg. No.: |
55-164115 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.34.225 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29253DL2007PTC164115 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ8537F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Copper tubular components. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 520000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a private limited company incorporated in the year 2007,
having satisfactory track. Rating takes into consideration company’s sound financial risk profile
marked by strong networth base, low gearing and fair profit margin in FY
2014. Overall financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings with 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 – 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 |
ICRA |
|
Rating |
Cash Credit = BB+ |
|
Rating Explanation |
Inadequate credit
quality and high credit risk. |
|
Date |
August, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Letter of Credit =
A4+ |
|
Rating Explanation |
Minimal degree of
safety and very high credit risk. |
|
Date |
August, 2014 |
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 DENIED BY
|
Name : |
Mr. Rajesh Kumar Rana |
|
Designation : |
General Manager |
|
Contact No.: |
91-9560691677 |
|
Date : |
07.07.2015 |
LOCATIONS
|
Registered Office : |
A- 44 , Basement , Amar Colony, Lajpat Nagar - IV , New Delhi - 110024 |
|
Tel. No.: |
91-120-2560586 |
|
Mobile No.: |
91-9560691677 (Mr. Rajesh Kumar Rana) |
|
Fax No.: |
91-120-2569889 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Plant : |
Located At
|
DIRECTORS
As on 30.09.2014
|
Name : |
Jignesh Panchal |
|
Designation : |
Director |
|
Address : |
T-3/302, Spa Tower, Jaypee Greens, Greater Noida, Noida - 201306, Uttar Pradesh, India |
|
Date of Birth/Age : |
28.10.1971 |
|
Date of Appointment : |
29.05.2007 |
|
DIN No.: |
02085715 |
|
|
|
|
Name : |
Manoj Kumar Verma |
|
Designation : |
Director |
|
Address : |
Near Kartr Enclave, Daulat Ram Colony, Railway Road, District - Gautam Budha Nagar, Dadri - 203207, Uttar Pradesh, India |
|
Date of Birth/Age : |
28.05.1980 |
|
Date of Appointment : |
20.05.2010 |
|
DIN No.: |
03025718 |
|
Other Directorship :
|
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Jignesh Panchal |
|
3019600 |
|
Manoj Kumar Verma |
|
400 |
|
Total |
|
3020000 |
As on 30.09.2014
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Shoveller Infacon Limited, India |
|
25000 |
|
ST Trance Sounds Private Limited, India |
|
40000 |
|
Symbolic Finance and Investment Private Limited, India |
|
104000 |
|
Raipur-Durg Project Limited, India |
|
95000 |
|
Freesia Construction Private Limited, India |
|
18000 |
|
Opal Buildwell Private Limited, India |
|
23500 |
|
Sharan Exports (India) Limited, India |
|
67000 |
|
Shine Gold Builders Limited, India |
|
30000 |
|
Total |
|
402500 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Copper tubular components. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
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|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
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 : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Gulati Sanjay and Company Chartered Accountants |
|
Address : |
Railway Road,Opposite Post Office,Ujhani,Budaun – 243639, Uttar Pradesh, India |
|
PAN No.: |
ACLPG0943K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Others : |
Sai Ganesh Exports Private Limited, India |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4250000 |
Equity Shares |
Rs.10/- each |
Rs.42.500 Million |
|
500000 |
Preference Shares |
Rs.10/- each |
Rs.5.000 Million |
|
|
Total |
|
Rs.47.500
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3020000 |
Equity Shares |
Rs.10/- each |
Rs.30.200
Million |
|
402500 |
Preference Shares |
Rs.10/- each |
Rs.4.025
Million |
|
|
Total |
|
Rs.34.225 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 |
34.225 |
34.225 |
34.225 |
|
(b) Reserves &
Surplus |
148.999 |
117.547 |
97.962 |
|
(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) |
183.224 |
151.772 |
132.187 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
134.257 |
141.751 |
124.906 |
|
(b) Deferred tax
liabilities (Net) |
11.706 |
10.185 |
8.257 |
|
(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) |
145.963 |
151.936 |
133.163 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.361 |
|
(b) Trade payables |
58.532 |
55.621 |
27.972 |
|
(c) Other current
liabilities |
15.932 |
8.637 |
4.083 |
|
(d) Short-term provisions |
14.132 |
9.640 |
2.309 |
|
Total Current Liabilities
(4) |
88.596 |
73.898 |
34.725 |
|
|
|
|
|
|
TOTAL |
417.783 |
377.606 |
300.075 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
140.815 |
134.200 |
122.315 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
4.726 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.991 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
140.815 |
139.917 |
122.315 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
28.210 |
0.000 |
0.000 |
|
(b) Inventories |
85.207 |
90.559 |
77.740 |
|
(c) Trade receivables |
100.780 |
78.277 |
36.385 |
|
(d) Cash and cash
equivalents |
29.705 |
25.198 |
4.067 |
|
(e) Short-term loans and
advances |
30.356 |
40.428 |
59.531 |
|
(f) Other current assets |
2.710 |
3.227 |
0.037 |
|
Total Current Assets |
276.968 |
237.689 |
177.760 |
|
|
|
|
|
|
TOTAL |
417.783 |
377.606 |
300.075 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
Income |
702.238 |
706.331 |
|
|
|
Other Income |
|
1.112 |
0.339 |
|
|
TOTAL |
858.267 |
703.350 |
706.670 |
|
|
|
|
|
|
|
Less |
|
809.809 |
649.914 |
669.274 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(Including depreciation
and Finance Expenses) |
53.436 |
37.396 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
17.626 |
16.919 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
35.810 |
20.477 |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
6.977 |
5.937 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
48.458 |
28.833 |
14.540 |
|
|
|
|
|
|
|
Less |
TAX |
16.413 |
9.259 |
4.493 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
32.045 |
19.574 |
10.047 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
10.61 |
6.48 |
3.32 |
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 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
3.73 |
2.79 |
1.42 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
NA
|
7.61 |
5.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.60 |
7.73 |
4.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.19 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.73 |
0.93 |
0.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.13 |
3.22 |
5.12 |
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 |
34.225 |
34.225 |
34.225 |
|
Reserves & Surplus |
97.962 |
117.547 |
148.999 |
|
Net worth |
132.187 |
151.772 |
183.224 |
|
|
|
|
|
|
long-term borrowings |
124.906 |
141.751 |
134.257 |
|
Short term borrowings |
0.361 |
0.000 |
0.000 |
|
Total borrowings |
125.267 |
141.751 |
134.257 |
|
Debt/Equity ratio |
0.948 |
0.934 |
0.733 |
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) |
|
Sales |
706.670 |
703.350 |
858.267 |
|
|
|
(0.470) |
22.026 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
706.670 |
703.350 |
858.267 |
|
Profit |
10.047 |
19.574 |
32.045 |
|
|
1.42% |
2.78% |
3.73% |
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 |
No |
|
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 |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
---------------------- |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and Advances from related parties |
19.895 |
19.894 |
|
Total |
19.895 |
19.894 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10572170 |
11/05/2015 |
30,000,000.00 |
The Hong Kong and Shanghai Banking Corporation Limited |
25, Barakhamba Road, New Delhi, Delhi - 110001, INDIA |
C55049480 |
|
2 |
10572168 |
11/05/2015 |
125,000,000.00 |
The Hong Kong and Shanghai Banking Corporation Limited |
Birla Towers, 25, Barakhamba Road, New Delhi, Delhi - 110001, INDIA |
C55048995 |
|
3 |
10450090 |
19/08/2013 |
600,000.00 |
Canara Bank |
IF Noida Branch,, NSEZ Phase-II,, Noida, Uttar Pradesh - 201305, INDIA |
B85397321 |
|
4 |
10376876 |
28/08/2012 |
700,000.00 |
Canara Bank |
IF Branch,, NSEZ, Phase-II, Noida, Uttar Pradesh - 201305, INDIA |
B58255894 |
|
5 |
10294819 |
24/05/2011 |
500,000.00 |
CANARA BANK |
INDL. FINANCE
BRANCH,, NSEZ, NOIDA, Uttar Pradesh |
B16048241 |
|
6 |
10157669 |
25/02/2015 * |
250,000,000.00 |
Canara Bank |
IF Noida Branch, NSEZ, Phase-II, Noida, Uttar Pradesh - 201301, INDIA |
C55074611 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment’s
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 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.63.57 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPY |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.