MIRA INFORM REPORT
|
Report No. : |
332960 |
|
Report Date : |
22.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHRACHI BURDWAN DEVELOPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Shrachi Tower", 686, Anandapur, E.M. Bypass, R.B. Connector
Junction, Kolkata – 700107, West Bengal |
|
Tel. No.: |
91-33-39843984 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.10.2006 |
|
|
|
|
Com. Reg. No.: |
21-111545 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 123.944
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200WB2006PTC111545 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS2315M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Real Estate Developer |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 560000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated during the year 2006.
It has a satisfactory track record. Management has reported good operational activity and decent sales
turnover which has resulted profitability margin of 5.2% during the year
2014. The company possesses healthy financial risk profile marked by its
decent networth position and favourable gap between trade payables and trade
receivables. Trade relations are reported as fair. Business is active. Payment
terms are reported as slow but 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
NOT AVAILABLE
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-33-39843984)
LOCATIONS
|
Registered Office : |
"Shrachi Tower", 686, Anandapur, E.M. Bypass, R.B. Connector
Junction, Kolkata – 700107, West Bengal, India |
|
Tel. No.: |
91-33-39843984 |
|
Fax No.: |
91-33-39844249 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Ravi Todi |
|
Designation : |
Director |
|
Address : |
2/2B, Sarat Bose Road, Kolkata - 700020, West Bengal, India |
|
Date of Birth/Age : |
01.05.1960 |
|
Date of Appointment : |
16.10.2006 |
|
PAN No.: |
ABUPT6599G |
|
DIN No.: |
00080388 |
|
|
|
|
Name : |
Mr. Rahul Todi |
|
Designation : |
Director |
|
Address : |
2/2B, Sarat Bose Road, Kolkata - 700020, West Bengal, India |
|
Date of Birth/Age : |
12.09.1976 |
|
Date of Appointment : |
16.11.2006 |
|
PAN No.: |
ABRPT9982A |
|
DIN No.: |
00080441 |
|
|
|
|
Name : |
Mr. Jayant Goel |
|
Designation : |
Director |
|
Address : |
W-67, 1st Floor, Greater Kailash II, New Delhi - 110048, Delhi, India |
|
Date of Birth/Age : |
06.06.1971 |
|
Date of Appointment : |
07.03.2013 |
|
DIN No.: |
01925642 |
|
|
|
|
Name : |
Mr. Ashok Gupta |
|
Designation : |
Director |
|
Address : |
B-24, Sarvodaya Enclave,, New Delhi - 110017, Delhi, India |
|
Date of Birth/Age : |
18.03.1963 |
|
Date of Appointment : |
07.03.2013 |
|
DIN No.: |
00056829 |
KEY EXECUTIVES
|
Name : |
Sulagna Goswami |
|
Designation : |
Secretary |
|
Address : |
82, Kanungo Park, Garia, Kolkata - 700084, West Bengal, India |
|
Date of Birth/Age : |
26.06.1987 |
|
Date of Appointment : |
01.08.2014 |
|
PAN No.: |
AOKPG2018Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Bengal Shrachi Housing Development Limited, India |
|
1758884 |
|
Xander Investment Holding VI Limited, Mauritius |
|
1758883 |
|
Voldemort Investment Holding Company Limited, Mauritius |
|
1 |
|
|
|
|
|
Total |
|
3517768 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Bengal Shrachi Housing Development Limited, India |
|
7291683 |
|
Xander Investment Holding VI Limited, Mauritius |
|
1584924 |
|
|
|
|
|
Total |
|
8876607 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
50.00 |
|
Bodies
corporate |
50.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Developer |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Terms : |
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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 : |
Not Divulged |
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Bankers : |
·
United Bank of India 11. Old Court House Street, Kolkata - 700001,
West Bengal, India ·
Bank of Baroda Brabourne Road Branch, 4, Brabourne Road, Kolkata
- 700001, West Bengal, India |
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|
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
Godrej Waterside, Unit No. 603-604, Tower 1, Plot
No. 5, Block - DP, Salt Lake, Sector - V, Kolkata – 700091, West Bengal,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AATFS9977P |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
· Bengal Shrachi Housing Development Limited [U70109WB1997PLC084598] · Xander Investment Holding VI Limited |
|
|
|
|
Subsidiary company
: |
Renaissance Maintenance Private Limited [U70109WB2010PTC156144] |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Nalonard Holdings Limited · Shrachi Virtuous Retail Projects Private Limited [U51109WB2007PTC119754] · Amri Hospitals Limited [U85110WB1986PLC040525] · Anchor Apartments Private Limited [U65921WB1990PTC048903] · Spectra Realcon LLP · Bengal Tools Limited [U51216WB1992PLC054541] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000 Million |
|
17,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 170.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 260.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,517,768 |
Equity Shares |
Rs. 10/- each |
Rs. 35.178
Million |
|
8,876,607 |
Preference Shares |
Rs. 10/- each |
Rs. 88.766
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 123.944 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 |
123.944 |
123.944 |
123.944 |
|
(b) Reserves & Surplus |
70.923 |
58.376 |
45.371 |
|
(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) |
194.867 |
182.320 |
169.315 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
25.000 |
25.000 |
25.000 |
|
(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 |
0.680 |
0.551 |
0.140 |
|
Total
Non-current Liabilities (3) |
25.680 |
25.551 |
25.140 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
243.500 |
176.318 |
134.114 |
|
(b)
Trade payables |
66.471 |
81.010 |
95.606 |
|
(c)
Other current liabilities |
657.445 |
796.462 |
845.185 |
|
(d)
Short-term provisions |
1.077 |
1.589 |
0.002 |
|
Total
Current Liabilities (4) |
968.493 |
1055.379 |
1074.907 |
|
|
|
|
|
|
TOTAL |
1189.040 |
1263.250 |
1269.362 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
7.136 |
7.578 |
8.348 |
|
(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 |
0.100 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
11.419 |
8.283 |
4.342 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
18.655 |
15.861 |
12.690 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1108.730 |
1199.141 |
1200.433 |
|
(c)
Trade receivables |
4.695 |
3.812 |
3.812 |
|
(d)
Cash and cash equivalents |
3.242 |
8.348 |
5.732 |
|
(e)
Short-term loans and advances |
50.455 |
33.897 |
45.705 |
|
(f)
Other current assets |
3.263 |
2.191 |
0.990 |
|
Total
Current Assets |
1170.385 |
1247.389 |
1256.672 |
|
|
|
|
|
|
TOTAL |
1189.040 |
1263.250 |
1269.362 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
15.207 |
15.449 |
(11.334) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(0.215) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
15.207 |
15.664 |
(11.334) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
4.32 |
4.45 |
(3.06) |
|
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 (used in) operations |
(37.767) |
(12.615) |
(66.744) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.28 |
1.22 |
(0.89) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.08 |
(0.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.38 |
1.10 |
0.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.18 |
1.17 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
123.944 |
123.944 |
123.944 |
|
Reserves & Surplus |
45.371 |
58.376 |
70.923 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
169.315 |
182.320 |
194.867 |
|
|
|
|
|
|
Long-term borrowings |
25.000 |
25.000 |
25.000 |
|
Short term borrowings |
134.114 |
176.318 |
243.500 |
|
Total
borrowings |
159.114 |
201.318 |
268.500 |
|
Debt/Equity ratio |
0.940 |
1.104 |
1.378 |
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 |
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) |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10447254 |
08/08/2013 |
460,000,000.00 |
BANK OF BARODA |
BRABOURNE ROAD BRANCH,
4, BRABOURNE ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B84136530 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Debentures |
25.000 |
25.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
0.000 |
74.600 |
|
|
|
|
|
Total |
25.000 |
99.600 |
COMPANY OVERVIEWS
Subject was incorporated on 16 October 2006 at Kolkata, State of West Bengal as a Special Purpose Vehicle (SPV) of Bengal Shrachi Housing Development Limited (BSHDL) and Xander Investment Holdings VI Limited (a Company incorporated under the law of Mauritius). BSHDL is a joint venture between West Bengal Housing Board and Shrachi Group. The Company has acquired development rights in the land at Mouza Nababhat Burdwan from BSHDL. The objective of the Company is to develop the land into a mini township.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
·
Computer software
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. 63.65 |
|
|
1 |
Rs. 99.14 |
|
Euro |
1 |
Rs. 68.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
|
--PROFITABILIRY |
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 |
|
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.