MIRA INFORM REPORT
|
Report No. : |
333308 |
|
Report Date : |
23.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MEDICHEM LIFE SCIENCES PRIVATE LIMITED. |
|
|
|
|
Registered
Office : |
E-86, Tarapur, MIDC, District Thane – 401506, Maharashtra |
|
Mobile No.: |
91-9167836758 (Mr. Kishore) |
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|
Country : |
India |
|
|
|
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Financials (as
on) : |
31.03.2013 |
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|
|
Date of
Incorporation : |
06.09.2007 |
|
|
|
|
Com. Reg. No.: |
173846 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.4.385 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232MH2007PTC173846 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM34139A |
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|
|
|
PAN No.: [Permanent Account No.] |
AAFCM2318H |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in trading and manufacturing of bulk drugs and intermediares. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 98000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject was established in the year 2007 and it is a trader of bulk drugs
and intermediates. Subject is an established company having moderate track. Management has failed to file its financial record with government
department for the year 2014. For the finaicla year ended 2013, company has reported decent topline
growth but failed to maintained profitability margins and reported lower
margins at 0.13%. Rating further constrained on account of company’s moderate financial
risk profile marked by modest networth along with huge borrowing and leverage
balance sheet profile of the company. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. In view of absence of latest finaical information along with moderate
financial profile, the company can be considered for business dealings with
some caution. |
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. Kishore |
|
Designation : |
Account Finance Department |
|
Contact No.: |
91-9167836758 |
|
Date : |
22.07.2015 |
LOCATIONS
|
Registered Office / Factory: |
E/86, Tarapur, MIDC, District Thane – 401506, Maharashtra, India |
|
Tel. No.: |
91- 22-24475594 / 28475060 |
|
Mobile No.: |
91-9167836758 (Mr. Kishore) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
N Wing Office No.3 26-A, Chandivali, Off Saki Vihar Road, Chandivli, Andheri
(East), Mumbai – 400072, Maharashtra, India |
|
|
|
|
Godown : |
Pooja Complex, Godown No.20, Opposite Batra Petrol Pump,
Purna Village, Bhiwandi, District Thane – 421302, Maharashtra, India |
DIRECTORS
AS ON 24.09.2013
|
Name : |
Bhavesh Jayantilal Bhatt |
|
Designation : |
Director |
|
Address : |
C 17 Plot No. 240 Meghdoot CHS Limited, Near Pragati School, RSC 42 Gorai II, Borivali (West), Mumbai - 400092, Maharashtra, India |
|
Date of Appointment : |
10.11.2014 |
|
DIN No.: |
03535148 |
|
|
|
|
Name : |
Kesharam Bhooraram Choudhary |
|
Designation : |
Director |
|
Address : |
B-50, Varahi Park, Part - 1, B/H Mony Hotel, Isanpur Char Rasta, Isanpur, Ahmedabad - 382443, Gujarat, India |
|
Date of Birth/Age : |
02.07.1989 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No.: |
05127201 |
KEY EXECUTIVES
|
Name : |
Mr. Kishore |
|
Designation : |
Account Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2013
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Kesharam Bhooraram Choudhary |
438,000 |
99.89 |
|
Dilipkumar Kundanmal Sakaria |
500 |
0.11 |
|
Total |
438,500 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 24.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in trading and manufacturing of bulk drugs and intermediares. |
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|
|
|
Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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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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Auditors : |
|
|
Name : |
S.D Jain and Company Chartered Accountants |
|
Address : |
7/8, Anjalika Sadan, 1st Floor, Sitladevi Temple Road , Mahim (West), Mumbai-400016, Maharashtra, India |
|
PAN No.: |
AABPJ2225R |
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Memberships : |
--- |
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Collaborators : |
--- |
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Associates/Subsidiaries : |
---- |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
438,500 |
Equity Shares |
Rs.10/- each |
Rs.4.385 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.385 |
4.385 |
4.385 |
|
(b) Reserves &
Surplus |
27.725 |
24.855 |
21.647 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
2.501 |
46.784 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
34.611 |
76.024 |
26.032 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
158.337 |
|
(b) Deferred tax
liabilities (Net) |
0.072 |
0.000 |
0.000 |
|
(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) |
0.072 |
0.000 |
158.337 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
250.000 |
0.000 |
0.000 |
|
(b) Trade payables |
141.104 |
130.189 |
227.650 |
|
(c) Other current
liabilities |
110.787 |
180.882 |
19.908 |
|
(d) Short-term provisions |
2.006 |
3.050 |
5.122 |
|
Total Current Liabilities
(4) |
503.897 |
314.121 |
252.680 |
|
|
|
|
|
|
TOTAL |
538.580 |
390.145 |
437.049 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
118.317 |
118.857 |
116.647 |
|
(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 |
40.097 |
39.595 |
0.095 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.022 |
0.129 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.953 |
|
Total Non-Current Assets |
158.414 |
158.474 |
117.824 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
8.632 |
8.016 |
10.001 |
|
(c) Trade receivables |
165.542 |
64.048 |
207.207 |
|
(d) Cash and cash
equivalents |
6.878 |
3.167 |
21.946 |
|
(e) Short-term loans and
advances |
192.697 |
150.122 |
73.215 |
|
(f) Other current assets |
6.417 |
6.318 |
6.856 |
|
Total Current Assets |
380.166 |
231.671 |
319.225 |
|
|
|
|
|
|
TOTAL |
538.580 |
390.145 |
437.049 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2241.295 |
434.604 |
562.145 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2236.826 |
426.483 |
553.569 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4.469 |
8.121 |
8.576 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
8.121 |
8.576 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
3.298 |
0.974 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
4.823 |
7.602 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
1.530 |
2.295 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.870 |
3.293 |
5.306 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
24.940 |
10.935 |
5.628 |
|
|
|
|
|
|
|
|
|
|
SECURITY
PREMIUM |
NA |
10.715 |
10.715 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
24.940 |
21.647 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.55 |
7.51 |
12.10 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
110.000 |
179.659 |
18.864 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.13 |
0.76 |
0.94 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
1.87 |
1.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
1.38 |
1.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.06 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
10.40 |
2.36 |
6.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.75 |
0.74 |
1.26 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
4.385 |
4.385 |
4.385 |
|
Reserves & Surplus |
21.647 |
24.855 |
27.725 |
|
Share Application money
pending allotment |
0.000 |
46.784 |
2.501 |
|
Net worth |
26.032 |
76.024 |
34.611 |
|
|
|
|
|
|
long-term borrowings |
158.337 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
250.000 |
|
Current Maturities of
Long Term Debt |
18.864 |
179.659 |
110.000 |
|
Total borrowings |
177.201 |
179.659 |
360.000 |
|
Debt/Equity ratio |
6.807 |
2.363 |
10.401 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
562.145 |
434.615 |
2241.295 |
|
|
|
(22.686) |
415.697 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
562.145 |
434.615 |
2241.295 |
|
Profit |
5.306 |
3.293 |
2.870 |
|
|
0.94% |
0.76% |
0.13% |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
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 |
No |
|
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 |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
CASE DETAILS BENCH:-BOMBAY
|
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UNSECURED LOAN
|
PARTICUALRS |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
250.000 |
0.000 |
|
|
|
|
|
Total |
250.000 |
0.000 |
INDEX OF CHARGES :
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10434877 |
27/06/2013 |
320,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ |
B78757846 |
|
2 |
10410356 |
14/01/2013 |
121,500,000.00 |
STATE BANK OF HYDERABAD |
OVERSEAS BRANCH,1204, ASHOK MAHAL,, TULLOCH ROAD, |
B70280763 |
|
3 |
10430524 |
22/11/2012 |
70,000,000.00 |
THE KAPOL CO-OPERATIVE BANK LIMITED |
107/108, D, SHYAMKAMAL BLDG,, NEAR AGARWAL MARKET |
B68917194 |
NOTE:
The registered of address of the company has been shifted from Premises No.2, 150 Rohira House Co-Operative Housing Society Limited, Veer Savarkar Marg, Mahim, Mumbai - 400016, Maharashtra, India to present address w.e.f. 01.02.2011.
FIXED ASSETS
- Computer
- Office Equipment
- Car
- Land
- Furniture and Fixtures
- Office premises
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.63.53 |
|
|
1 |
Rs.99.19 |
|
Euro |
1 |
Rs.69.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
----- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
30 |
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.