MIRA INFORM REPORT
|
Report No. : |
331483 |
|
Report Date : |
10.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPEED-O-CONTROLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-16, Nand Jyot Industrial Estate, Andheri Kurla Road, Mumbai-400072, Maharashtra |
|
Tel. No.: |
91-22-42469700 (30 Lines) |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.02.1989 |
|
|
|
|
Com. Reg. No.: |
11-050818 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.622 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200MH1989PTC050818 |
|
|
|
|
IEC No.: |
0300048076 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCS1430L |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Importer of Crane Control Gears. |
|
|
|
|
No. of Employees
: |
75 (Approximately) |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is well-established company incorporated during the year 1989.
It has a satisfactory track record. For the financial year ended 2014, the company has reported good
functioning in its operations and has achieved decent sales turnover along
with good profitability margin of 11.4%. Further, rating reflects company’s established track record of business
backed by sound net worth position along with low borrowing taken by the
company. The directors of the company are respectable and well-experienced in
the business. Trade relations are fair. Business is active. Payments terms are
usually correct. In view of healthy financial base, company can be considered healthy
for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
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
|
Name : |
Ms. Gauri Khandekar |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-42469700 |
|
Date : |
09.07.2015 |
LOCATIONS
|
Registered Office/ Factory : |
C-16, Nand Jyot Industrial Estate, Andheri Kurla Road, Mumbai-400072, Maharashtra, India |
|
Tel. No.: |
91-22-42469700 (30 Lines) |
|
Fax No.: |
91-22-42469797/28518516 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Branch Office 1 : |
Unit-II Plot No 4912, G.I.D.C Phase IV ,Vatva, Ahmedabad-382445, Gujarat, India |
|
Tel. No.: |
91-79-40083201-04 |
|
Fax No.: |
91-79-25841056 |
|
E-Mail : |
|
|
|
|
|
Branch Office 2 : |
Plot No. 10, CTS No. 1148, Opposite Chinchwad Times Apartment, Pimpri Chinchwad Link Road, Laxmi Nagar, Chinchwad, Pune – 411 033, Maharashtra, India |
|
Tel. No.: |
91-20-42469700-30, 28518513/4 |
|
Fax No.: |
91-20-42469797, 28518516 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Kanahiyalal Ramchand Dewani |
|
Designation : |
Managing Director |
|
Address : |
604 Versova Sea Green, Seven Bunglows Andheri W, Mumbai, 400061, Maharashtra, India |
|
Date of Birth/Age : |
25.03.1950 |
|
Date of Appointment : |
27.02.1989 |
|
DIN No.: |
00357855 |
|
|
|
|
Name : |
Mrs. Pushpa Kanahiyalal Dewani |
|
Designation : |
Director |
|
Address : |
604 Versova Sea Green, Seven Bunglows Andheri W, Mumbai, 400061, Maharashtra, India |
|
Date of Birth/Age : |
27.07.1958 |
|
Date of Appointment : |
28.08.2000 |
|
DIN No.: |
00359348 |
KEY EXECUTIVES
|
Name : |
Ms. Gauri Khandekar |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kanahiyalal Ramchand Dewani |
|
322776 |
|
Pushpa Kanahiyalal Dewani |
|
88000 |
|
Kanahiyalal Ramchand Dewani HUF |
|
37 |
|
Vinay Kanahiyalal Dewani |
|
51397 |
|
Vikram Kanahiyalal Dewani |
|
10 |
|
Total |
|
462220 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Crane Control Gears. |
|
|
|
|
Products : |
Not Available |
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|
|
|
Brand Names : |
Not Available |
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|
Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
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|
|
|
Terms : |
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|
Selling : |
Cash / Credit |
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|
|
|
Purchasing : |
Cash / Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
75 (Approximately) |
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Bankers : |
Bank of India, Ghatkopar (West) Branch, Mahatma Gandhi Road,
Mumbai-400086, Maharashtra, India |
||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
M B Tandon and Associates Chartered Accountants |
|
Address : |
2 A, Seema Govt Employees Co-op Hsg Society, N Dutta Marg, Four
Bunglows, Andheri (West), Mumbai –
400053, Maharashtra, India |
|
Tel. No.: |
91-22-26304204/26304401 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABPT2499M |
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|
|
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
462,220 |
Equity Shares |
Rs.10/- each |
Rs. 4.622
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 |
4.622 |
4.622 |
4.622 |
|
(b) Reserves & Surplus |
141.131 |
118.045 |
96.202 |
|
(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) |
145.753 |
122.667 |
100.824 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
4.743 |
4.133 |
3.495 |
|
(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) |
4.743 |
4.133 |
3.495 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
11.618 |
8.453 |
8.836 |
|
(b) Trade
payables |
39.917 |
38.110 |
42.471 |
|
(c) Other
current liabilities |
13.203 |
14.542 |
31.367 |
|
(d) Short-term
provisions |
0.000 |
5.408 |
5.372 |
|
Total Current
Liabilities (4) |
64.738 |
66.513 |
88.046 |
|
|
|
|
|
|
TOTAL |
215.234 |
193.313 |
192.365 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
54.594 |
52.039 |
49.123 |
|
(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 |
10.808 |
12.609 |
27.247 |
|
(e) Other
Non-current assets |
5.885 |
3.519 |
2.227 |
|
Total Non-Current
Assets |
71.287 |
68.167 |
78.597 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.009 |
0.009 |
0.009 |
|
(b)
Inventories |
22.305 |
13.996 |
12.674 |
|
(c) Trade
receivables |
101.942 |
94.587 |
83.077 |
|
(d) Cash
and cash equivalents |
19.691 |
16.554 |
18.008 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
143.947 |
125.146 |
113.768 |
|
|
|
|
|
|
TOTAL |
215.234 |
193.313 |
192.365 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
200.981 |
219.822 |
252.199 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
147.318 |
161.863 |
185.821 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
53.663 |
57.959 |
66.378 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.783 |
2.696 |
2.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
50.880 |
55.263 |
64.330 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.598 |
14.913 |
12.344 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
34.282 |
40.350 |
51.986 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.196 |
13.099 |
16.976 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
23.086 |
27.251 |
35.010 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
100.907 |
81.564 |
54.426 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.500 |
2.500 |
2.500 |
|
|
|
Corporate Final Dividend Tax |
0.000 |
0.786 |
0.750 |
|
|
|
Proposed Final Dividend |
0.000 |
4.622 |
4.622 |
|
|
BALANCE CARRIED
TO THE B/S |
121.493 |
100.907 |
81.564 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.887 |
4.706 |
0.772 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
49.95 |
58.96 |
75.74 |
|
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 |
15.897 |
22.409 |
NA |
|
Net cash from operations |
5.311 |
9.948 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
11.49 |
12.40 |
13.88 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
26.70 |
26.37 |
26.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.93 |
20.87 |
27.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.33 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.08 |
0.07 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.22 |
1.88 |
1.29 |
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 |
4.622 |
4.622 |
4.622 |
|
Reserves & Surplus |
96.202 |
118.045 |
141.131 |
|
Net
worth |
100.824 |
122.667 |
145.753 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
8.836 |
8.453 |
11.618 |
|
Total
borrowings |
8.836 |
8.453 |
11.618 |
|
Debt/Equity
ratio |
0.088 |
0.069 |
0.080 |
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) |
|
Total Income |
252.199 |
219.822 |
200.981 |
|
|
|
(12.838) |
(8.571) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
252.199 |
219.822 |
200.981 |
|
Profit |
35.010 |
27.251 |
23.086 |
|
|
13.88% |
12.40% |
11.49% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
From Directors |
7.900 |
4.500 |
|
|
|
|
|
Total |
7.900 |
4.500 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90162381 |
24/05/1990 |
2,400,000.00 |
BANK OF INDIA |
GHATKOPAR (W) BRANCH, MAHATAMA GANDHI ROAD; GHATK |
- |
FIXED ASSETS
- Land and building
- Computer
- Plant and machinery
- Office equipment
- Tools and dies
- Furniture and fixture
- 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. |
|
|
1 |
Rs. |
|
Euro |
1 |
Rs. |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
6 |
|
--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 |
|
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.