MIRA INFORM REPORT
|
Report No. : |
330962 |
|
Report Date : |
08.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALLEN DIESELS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
251-252, Tribhuvan Complex, Ishwar Nagar, Friends Colony (West) New
Delhi - 110065 |
|
Tel. No.: |
91-11-42603393 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.02.2011 |
|
|
|
|
Com. Reg. No.: |
55-213223 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29220DL2011PTC213223 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
To Import, Export, Assemble, Repair, Overhaul, Refurbish and generally
deal in all kinds of engineering equipment, components, spares and services
related to Diesel Engines and other power generation equipment, prime movers
and their subassemblies. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 38000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated during the year 2011. It
is having a fine track record. For the financial year ended 2014, company has healthy operational
performance with upstanding sales turnover along with decent profitability
margin of 7.5%. Further, rating also takes into consideration company’s healthy
financial risk profile backed by fine net worth base along with very low
borrowings taken by the company. Trade relations are reported as fair. Business is active. Payment
terms are usually correct. In view of sound financial base, the company can be considered normal
for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 DENIED BY
|
Name : |
Mr. Vasant |
|
Designation : |
Account Department |
|
Contact No.: |
91-11-42603393 |
|
Date : |
07.07.2015 |
LOCATIONS
|
Registered Office : |
251-252, Tribhuvan Complex, Ishwar Nagar, Friends Colony (West) New
Delhi – 110065, India |
|
Tel. No.: |
91-11-42603393 |
|
Fax No.: |
91-11-42603392 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Overseas Office : |
Sandland Court, Pilgrim Centre, Brickhill Drive, Bedford MK41 7PZ, UK |
|
Tel. No.: |
44-1234-242400 |
|
Fax No.: |
44-1234-352956 |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Paul Martin Knight |
|
Designation : |
Director |
|
Address : |
Flat no. 12 Claydon Court Foster Hill Road, Bedford MK402ES, England |
|
Date of Birth/Age : |
14.07.1964 |
|
Date of Appointment : |
01.02.2011 |
|
DIN No.: |
03347399 |
|
|
|
|
Name : |
Mr. Sunil Mathur |
|
Designation : |
Director |
|
Address : |
Flat No. 309 – C, Management Apartment, Plot No. 17 Sector – 5, Dwarka
110075, Delhi, India |
|
Date of Birth/Age : |
23.04.1961 |
|
Date of Appointment : |
01.02.2011 |
|
DIN No.: |
03359168 |
KEY EXECUTIVES
|
Name : |
Mr. Vasant |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Allen Diesels Limited, England |
99000 |
99.00 |
|
Vikram Mathur |
1000 |
1.00 |
|
|
|
|
|
Total |
100000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To Import, Export, Assemble, Repair, Overhaul, Refurbish and generally
deal in all kinds of engineering equipment, components, spares and services
related to Diesel Engines and other power generation equipment, prime movers
and their subassemblies. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
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|
|
|
Agencies Held : |
Not Available |
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|
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|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vinod Dua and Associates Chartered Accountants |
|
Address : |
242-243, Tribhuvan Complex, Ishwar , Friends Colony (west), New Delhi
– 110065, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFV2209H |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company (As on 31.03.2013): |
Allien Diesels Limited, UK |
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000
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 |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
133.614 |
103.803 |
61.038 |
|
(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) |
134.614 |
104.803 |
62.038 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.743 |
0.457 |
0.195 |
|
Total
Non-current Liabilities (3) |
0.743 |
0.457 |
0.195 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.554 |
0.457 |
0.454 |
|
(b) Trade payables |
72.915 |
76.016 |
61.788 |
|
(c) Other current liabilities |
4.558 |
2.297 |
1.477 |
|
(d) Short-term provisions |
88.427 |
73.255 |
93.108 |
|
Total
Current Liabilities (4) |
166.454 |
152.025 |
156.827 |
|
|
|
|
|
|
TOTAL |
301.811 |
257.285 |
219.060 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.593 |
0.460 |
0.567 |
|
(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) |
1.462 |
1.189 |
1.259 |
|
(d) Long-term Loan and Advances |
105.001 |
95.168 |
11.847 |
|
(e) Other Non-current assets |
4.944 |
0.380 |
0.080 |
|
Total
Non-Current Assets |
112.000 |
97.197 |
13.753 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
20.000 |
94.899 |
50.949 |
|
(c) Trade receivables |
97.995 |
17.534 |
19.099 |
|
(d) Cash and cash equivalents |
62.210 |
34.930 |
73.241 |
|
(e) Short-term loans and
advances |
0.674 |
4.116 |
54.748 |
|
(f) Other current assets |
8.932 |
8.609 |
7.270 |
|
Total
Current Assets |
189.811 |
160.088 |
205.307 |
|
|
|
|
|
|
TOTAL |
301.811 |
257.285 |
219.060 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
397.230 |
337.120 |
386.770 |
|
|
Other Income |
6.790 |
8.200 |
63.409 |
|
|
TOTAL
|
404.020 |
345.320 |
450.179 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
275.791 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
(50.949) |
|
|
Employees benefits expense |
275.160 |
213.450 |
5.937 |
|
|
Other expenses |
67.800 |
68.370 |
74.128 |
|
|
Allowance for Bad |
16.790 |
0.000 |
0.000 |
|
|
TOTAL
|
359.750 |
281.820 |
304.907 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
44.270 |
63.500 |
145.272 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.140 |
0.170 |
0.202 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
44.130 |
63.330 |
145.070 |
|
|
|
|
|
|
|
Less |
TAX |
14.319 |
20.565 |
48.167 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
29.811 |
42.765 |
96.903 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
4.100 |
3.912 |
3.500 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Spare Parts |
153.991 |
224.348 |
239.261 |
|
|
Freight |
0.024 |
0.088 |
1.338 |
|
|
Travelling and conveyance |
1.016 |
0.526 |
0.000 |
|
|
TOTAL
IMPORTS |
155.031 |
224.962 |
240.599 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
298.11 |
427.65 |
1694.81 |
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 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.50 |
12.69 |
25.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.69 |
24.73 |
66.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.60 |
2.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.05 |
1.31 |
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 |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
61.038 |
103.803 |
133.614 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
62.038 |
104.803 |
134.614 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.454 |
0.457 |
0.554 |
|
Total
borrowings |
0.454 |
0.457 |
0.554 |
|
Debt/Equity
ratio |
0.007 |
0.004 |
0.004 |
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 |
386.770 |
337.120 |
397.230 |
|
|
|
(12.837) |
17.830 |
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 |
386.770 |
337.120 |
397.230 |
|
Profit |
96.903 |
42.765 |
29.811 |
|
|
25.05% |
12.69% |
7.50% |
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 |
No |
|
21 |
Banking facility details |
No |
|
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 |
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 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from related parties |
0.554 |
0.457 |
|
|
|
|
|
Total |
0.554 |
0.457 |
FINANCIAL RESULTS
AND OPERATIONS
Company continued with the business of sourcing and supplying spares and
services to customers of company in India. The long term supply agreement with
Indian Oil Corporation Limited was renewed during the year for a further period
of 3years starting from July 2013 to June 2016.
The revenue from operations of the company during the year was higher by
approximately 17% as compared to the previous year but due to the increase in
operating costs. Profit for the year was marginally lower at Rs. 60.910 Million
as against Rs. 63.340 Million in the previous year. After providing for
applicable taxes, net profit of Rs. 44.130 Million has been carried to the
Balance sheet.
It was decided to make an allowance for bad/non-collectible non-current
assets during the year on account of Special Additional Duty (Customs) which is
now considered non-collectible in view of current position interpretation of
applicable rules. A further claim for refund of Rs. 6.480 Million of Special
Additional duty (Customs) has been rejected by the authorities, but the company
has contested this rejection at appropriate forums and contingent liability is
reported for this amount in the financial statement.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Computer and Printer
- Furniture and
Fixture
- Office
Equipment
- Vehicle
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.63.58 |
|
|
1 |
Rs.99.11 |
|
Euro |
1 |
Rs.70.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
47 |
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.