MIRA INFORM REPORT
|
Report No. : |
332121 |
|
Report Date : |
16.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
HEXAGON NUTRITION PRIVATE LIMITED (w.e.f. 10.01.2006) |
|
|
|
|
Formerly Known
As : |
HEXAGON CHEMOILS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
404,
Global Chamber, Adarsh Nagar, Link
Road, Andheri (West), Mumbai - 400053, Maharashtra |
|
Tel. No.: |
91-22-26744742/ 43/ 28778529/ 40316722 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.05.1993 |
|
|
|
|
Com. Reg. No.: |
11-072189 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.26.634 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1993PTC072189 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH04440C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH2359E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is a producer of Micro Nutrient premixes for food
fortification, animal Nutrition and development of a complete nutritional
products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 630000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound. Profitability
of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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 |
ICRA |
|
Rating |
Term Loan = BB+ |
|
Rating Explanation |
Inadequate degree of safety and high credit
risk |
|
Date |
January 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund based = A3 |
|
Rating Explanation |
Minimal degree of safety and very higher
credit risk |
|
Date |
January 2015 |
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.
LOCATIONS
|
Registered / Corporate Office : |
404, Global
Chamber, Adarsh Nagar, Link Road,
Andheri (West), Mumbai - 400053, Maharashtra |
|
Tel. No.: |
91-22-26744742/ 43/ 28778529/ 40316722 |
|
Fax No.: |
91-22-26744740/ 41/ 28778530 |
|
E-Mail : |
marketing@hexagonnutrition.com arunkelkar@hexagonnutrition.com |
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No B – 11, Phase-1, MEPZ – SEZ, Tambaram, Chennai – 600045,
Tamilnadu, India |
|
Tel. No.: |
91-44-22625252 |
|
Fax No.: |
91-44-22625252 |
|
|
|
|
Factory 2: |
Dindori, Nashik, Maharashtra, India |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Arun Purshottam Kelkar |
|
Designation : |
Managing Director |
|
Address : |
1102, Dheeraj
Gourav Height-1, Near Hundai Showroom, Adarsh Nagar, Andheri (East), Mumbai –
400 053, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1950 |
|
Qualification : |
B.E., DQM |
|
Date of Appointment : |
27.05.1993 |
|
DIN No.: |
00171276 |
|
|
|
|
Name : |
Mrs. Anuradha A. Kelkar |
|
Designation : |
Whole-time Director |
|
Address : |
1102, Dheeraj Gourav
Height-1, Near Hundai Showroom, Adarsh Nagar, Andheri (East), Mumbai – 400
053, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1958 |
|
Qualification : |
M. Sc., B. Ed. |
|
Date of Appointment : |
30.12.2005 |
|
DIN No.: |
00177072 |
|
|
|
|
Name : |
Mr. Subhash Purshottam Kelkar |
|
Designation : |
Whole-time Director |
|
Address : |
Flat No. 3, Dharmraj Plaza, Old Gangapur Naka, Gangapur Road, Nashik – 422 005, Maharashtra, India |
|
Date of Birth/Age : |
28.07.1959 |
|
Qualification : |
B. Pharma, DMS |
|
Date of Appointment : |
27.05.1993 |
|
DIN No.: |
00177280 |
|
|
|
|
Name : |
Mr. Vikram Arun Kelkar |
|
Designation : |
JT. Managing Director |
|
Address : |
1102, Dheeraj Gourav
Height-1, Near Hundai Showroom, Adarsh Nagar, Andheri (East), Mumbai – 400
053, Maharashtra, India |
|
Date of Birth/Age : |
17.11.1981 |
|
Qualification : |
M.I.B. |
|
Date of Appointment : |
01.09.2005 |
|
DIN No.: |
02302364 |
|
|
|
|
Name : |
Mr. Nikhil Arun Kelkar |
|
Designation : |
Whole-time Director |
|
Address : |
1102, Dhiraj Gaurav, Adarsh Nagar, Andheri (East), Mumbai – 400 053,
Maharashtra, India |
|
Date of Birth/Age : |
16.12.1978 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
02302369 |
|
|
|
|
Name : |
Mr. Aditya Kelkar |
|
Designation : |
Director |
|
Address : |
Flat No. 3, Dharmapal Plaza, Old Gangapur Naka, Gangapur Road, Nashik
– 422005, Maharahstra, India |
|
Date of Appointment : |
15.09.2012 |
|
DIN No.: |
02312705 |
|
|
|
|
Name : |
Mr. Vijay Kumar Ramteke |
|
Designation : |
Independent Director |
|
Address : |
Type VI/40, Railway Officers Enclave, San Martin Marg, Chanakyapuri,
Delhi – 110021, India |
|
Date of Appointment : |
06.03.2013 |
|
DIN No.: |
06546136 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Arun P. Kelkar |
6441000 |
24.18 |
|
Subhash P. Kelkar |
5806000 |
21.80 |
|
Anuradha A. Kelkar |
5125000 |
19.24 |
|
Vikram A. Kelkar |
875000 |
3.29 |
|
Nikhil A. Kelkar |
7010000 |
26.32 |
|
Nutan Subhash Kelkar |
1277000 |
4.79 |
|
Aditya Subhash Kelkar |
100000 |
0.38 |
|
Total |
26634000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a producer of Micro Nutrient premixes for food
fortification, animal Nutrition and development of a complete nutritional
products. |
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|
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Products : |
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|
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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 : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Bhuwania and Agrawal Associates Chartered Accountants |
|
Address : |
503/505, JS seth Road, Chira Bazar, Mumbai – 400002, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB5922E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
CIN No.: U15139TN2012PTC086911
CIN No.: U15146TN2012PTC089163 |
CAPITAL STRUCTURE
AFTER 29.09.2014
Authorised Capital: Rs. 150.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 89.952
Million
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.1/- each |
Rs.50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29984000 |
Equity Shares |
Rs.1/- each |
Rs.29.894
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 |
29.984 |
26.634 |
26.634 |
|
(b) Reserves &
Surplus |
192.259 |
233.835 |
146.265 |
|
(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) |
222.243 |
260.469 |
172.899 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
81.584 |
52.414 |
27.154 |
|
(b) Deferred tax
liabilities (Net) |
0.714 |
4.260 |
3.133 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.895 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
83.193 |
56.674 |
30.287 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
54.553 |
154.249 |
114.201 |
|
(b) Trade payables |
43.607 |
33.086 |
51.768 |
|
(c) Other current
liabilities |
121.600 |
31.345 |
6.967 |
|
(d) Short-term provisions |
7.135 |
36.957 |
24.942 |
|
Total Current Liabilities
(4) |
226.895 |
255.637 |
197.878 |
|
|
|
|
|
|
TOTAL |
532.331 |
572.780 |
401.064 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
131.123 |
134.718 |
83.940 |
|
(ii) Intangible Assets |
18.083 |
11.271 |
0.000 |
|
(iii) Capital
work-in-progress |
69.871 |
22.074 |
24.363 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
91.760 |
24.719 |
16.546 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.151 |
1.738 |
0.520 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
1.705 |
|
Total Non-Current Assets |
311.988 |
194.520 |
127.074 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
8.345 |
|
(b) Inventories |
62.190 |
125.272 |
74.696 |
|
(c) Trade receivables |
46.484 |
142.999 |
106.985 |
|
(d) Cash and cash
equivalents |
30.487 |
27.864 |
41.500 |
|
(e) Short-term loans and
advances |
81.108 |
79.701 |
18.078 |
|
(f) Other current assets |
0.074 |
2.424 |
24.386 |
|
Total Current Assets |
220.343 |
378.260 |
273.990 |
|
|
|
|
|
|
TOTAL |
532.331 |
572.780 |
401.064 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
655.342 |
729.115 |
|
|
Other Income |
NA |
|
|
|
|
TOTAL |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
NA |
542.237 |
649.385 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
NA |
113.105 |
79.730 |
|
|
|
|
|
|
|
Less |
TAX |
NA |
19.964 |
20.432 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
10.645 |
93.141 |
59.298 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
66.834 |
54.265 |
87.141 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
NA |
75.000 |
87.500 |
|
|
Dividend |
NA |
4.794 |
3.995 |
|
|
Tax on Dividend |
NA |
0.778 |
0.679 |
|
|
Total (M) |
NA |
80.572 |
92.174 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
77.479 |
66.834 |
54.265 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.36 |
3.50 |
1.98 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
26.476 |
14.980 |
0.700 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
14.21 |
8.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
21.50 |
22.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.43 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.73 |
0.85 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
1.48 |
1.38 |
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 |
26.634 |
26.634 |
29.984 |
|
Reserves & Surplus |
146.265 |
233.835 |
192.259 |
|
Net worth |
172.899 |
260.469 |
222.243 |
|
|
|
|
|
|
long-term borrowings |
27.154 |
52.414 |
81.584 |
|
Short term borrowings |
114.201 |
154.249 |
54.553 |
|
Current maturities of
long-term debts |
0.700 |
14.980 |
26.476 |
|
Total borrowings |
142.055 |
221.643 |
162.613 |
|
Debt/Equity ratio |
0.822 |
0.851 |
0.732 |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 two 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
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Working Capital from Banks and other institutions |
11.451 |
0.000 |
|
SHORT TERM
BORROWING |
|
|
|
From Related Parties |
20.620 |
0.000 |
|
Total |
32.071 |
0.000 |
INDEX
OF CHARGES
FIXED ASSETS
·
Land
·
Building
·
Computer
·
Electrical Fittings
·
Factory Equipments
·
Furniture
·
Machinery
·
Motor Car
·
Office Equipment
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 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.63.38 |
|
UK Pound |
1 |
Rs.99.13 |
|
Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.