MIRA INFORM REPORT
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Report No. : |
333621 |
|
Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
BANG DATA FORMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.50, Kewal Industrial Estate, Senapati Bapat Marg, Lower Parel
(West) Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-22070644 |
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|
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
19.07.1989 |
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Com. Reg. No.: |
11-052672 |
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Capital
Investment / Paid-up Capital : |
Rs. 13.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22219MH1989PTC052672 |
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|
IEC No.: |
0397043881 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB13727A |
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PAN No.: [Permanent Account No.] |
AAACB1541Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of PP Woven Sacks for the Cement, Food Grain and Textile Industries. |
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|
No. of Employees
: |
Information declined by the Management |
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 |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s sound financial risk
profile and fair liquidity position of the company. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating=BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
16.04.2015 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating=A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
16.04.2015 |
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.
INFORMATION DECLINED BY
|
Name : |
Mr. S. G. Bhatter |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-24901781 |
|
Date : |
24.07.2015 |
LOCATIONS
|
Registered Office : |
Unit No.50, Kewal Industrial Estate, Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-22070644/ 24901781 / 40436565 |
|
Mobile No.: |
91-22-24901781 (Mr. S. G. Bhatter) |
|
Fax No.: |
91-22-22073868 |
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E-Mail : |
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Website : |
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Corporate Office : |
103, Kewal Industrial Estate, First Floor, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013, Maharashtra, India |
|
Tel. No.: |
91-22-40436565 |
|
Fax No.: |
91-22- 24901891 |
|
|
|
|
Factory : |
Plot No.A-7 and A -64, MIDC, Chincholi, Solapur-413255, Maharashtra, India |
|
Tel. No.: |
91-217-2357511/ 2357633 |
|
Fax No.: |
91-217-2357726 |
|
E-Mail : |
DIRECTORS
AS ON 05.09.2014
|
Name : |
Mr. Venugopal Balaram Bang |
|
Designation : |
Director |
|
Address : |
Bang Bhavan, 2nd Floor, Sir Bhalchandra Road, Dadar,
Mumbai-400014, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1954 |
|
Date of Appointment : |
19.07.1989 |
|
DIN No.: |
00112410 |
|
|
|
|
Name : |
Mr. Krishna Kumar Ramkumar Bang |
|
Designation : |
Director |
|
Address : |
Bang Bhavan, 122 Sir Bhalchander Road, Hindu Colony, Dadar
(East), Mumbai- 400014, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1966/ 48 Years |
|
Experience : |
24 Years |
|
Date of Appointment : |
25.01.1990 |
|
PAN No.: |
AAVPB9853D |
|
DIN No.: |
00235932 |
|
|
|
|
Name : |
Mr. Varadraj Rangnath Bang |
|
Designation : |
Director |
|
Address : |
Gopi Kunj, 195/15, Budhwar Peth, Samrat Chowk,
Solapur-413002, Maharashtra, India |
|
Date of Birth/Age : |
21.10.1967 |
|
Date of Appointment : |
19.07.1989 |
|
PAN No.: |
ABMPB8474C |
|
DIN No.: |
00235962 |
KEY EXECUTIVES
|
Name : |
Mr. S. G. Bhatter |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.09.2014
NOTE: SHAREHOLDERS DETAILS FILE ATTACHED
AS ON 05.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PP Woven Sacks for the Cement, Food Grain and Textile
Industries. |
|
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|
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 : |
·
Kotak Mahindra Bank Limited Mittal Towers, A Wing, Ground Floor, 210,
Nariman Point, Mumbai-400021, Maharashtra, India ·
Commonwealth Bank of Australia Level 2, Hoechst House, Nariman Point,
Mumbai-400021, Maharashtra, India · Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
· SICOM Limited Nariman Point, Mumbai-400021, Maharashtra, India |
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Auditors : |
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|
Name : |
K. M. Garg and Company Chartered Accountants |
|
Address : |
603/604, Unique Tower, Off. S.V. Road, Goregaon (West), Mumbai-400062,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFK4654J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
· Supreme Polyweave Private Limited [U25202MH1999PTC121809] · Bang Papers Private Limited [U21000MH2007PTC172222] · Bang Overseas Limited [L51900MH1992PLC067013] · R V Investment Private Limited ·
Bags and Sacks India Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1320000 |
Equity Shares |
Rs. 10/- each |
Rs. 13.200
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 |
13.200 |
13.200 |
13.200 |
|
(b) Reserves & Surplus |
301.205 |
238.582 |
198.008 |
|
(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) |
314.405 |
251.782 |
211.208 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
61.073 |
72.539 |
125.866 |
|
(b) Deferred tax liabilities (Net) |
9.899 |
11.288 |
14.353 |
|
(c)
Other long term liabilities |
0.631 |
1.172 |
0.506 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
71.603 |
84.999 |
140.725 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
74.069 |
105.127 |
104.754 |
|
(b)
Trade payables |
90.626 |
60.313 |
108.624 |
|
(c)
Other current liabilities |
41.425 |
55.257 |
19.898 |
|
(d)
Short-term provisions |
9.348 |
0.979 |
5.196 |
|
Total
Current Liabilities (4) |
215.468 |
221.676 |
238.472 |
|
|
|
|
|
|
TOTAL |
601.476 |
558.457 |
590.405 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
198.037 |
215.552 |
221.832 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.200 |
0.200 |
15.345 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.175 |
0.175 |
0.176 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
14.117 |
16.920 |
45.025 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
212.529 |
232.847 |
282.378 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
155.685 |
132.780 |
142.299 |
|
(c)
Trade receivables |
202.578 |
153.187 |
123.936 |
|
(d)
Cash and cash equivalents |
7.819 |
8.578 |
11.039 |
|
(e)
Short-term loans and advances |
22.865 |
31.065 |
30.753 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
388.947 |
325.610 |
308.027 |
|
|
|
|
|
|
TOTAL |
601.476 |
558.457 |
590.405 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
93.585 |
58.179 |
43.529 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
30.992 |
17.605 |
15.624 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
62.593 |
40.574 |
27.905 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
656.121 |
497.878 |
403.567 |
|
|
TOTAL EARNINGS |
656.121 |
497.878 |
403.567 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
47.42 |
30.74 |
21.14 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
14.940 |
26.660 |
0.000 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
107.740 |
64.606 |
62.395 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.57 |
10.42 |
7.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.23 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.48 |
0.81 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
1.47 |
1.29 |
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 |
13.200 |
13.200 |
13.200 |
|
Reserves & Surplus |
198.008 |
238.582 |
301.205 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
211.208 |
251.782 |
314.405 |
|
|
|
|
|
|
Long-term borrowings |
125.866 |
72.539 |
61.073 |
|
Short term borrowings |
104.754 |
105.127 |
74.069 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.000 |
26.660 |
14.940 |
|
Total
borrowings |
230.620 |
204.326 |
150.082 |
|
Debt/Equity
ratio |
1.092 |
0.812 |
0.477 |
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 |
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 |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
No |
|
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 |
Yes |
|
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 |
10443048 |
10/10/2014 * |
30,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
C33234592 |
|
2 |
10393571 |
10/10/2014 * |
50,000,000.00 |
COMMONWEALTH BANK OF AUSTRALIA |
LEVEL 2, HOECHST
HOUSE, NARIMAN POINT, MUMBAI- 400021, MA |
C33978065 |
|
3 |
10286017 |
15/06/2012 * |
20,000,000.00 |
ING VYSYA BANK LIMITED |
C-12, G BLOCK,BANDRA
KURLA COMPLEX,, BANDRA EAST, |
B42553735 |
|
4 |
10204233 |
07/06/2012 * |
57,000,000.00 |
ING VYSYA BANK LIMITED |
MITTAL TOWERS,A-WING,GROUND FLOOR, 210 NARIMAN POINT, MUMBAI-400021, MAHARASHTRA, INDIA |
B42556134 |
|
5 |
90237591 |
10/10/2014 * |
197,000,000.00 |
ING VYSYA BANK LIMITED |
GROUND FLOOR,KAKAD
CHAMBERS, UNIT 1 AND 2,132,DR. |
C34142232 |
|
6 |
90237475 |
06/02/2002 |
24,000,000.00 |
INDIAN BANK |
NARIMAN POINT, MUMBAI-400021, MAHARASHTRA, INDIA |
- |
|
7 |
90237204 |
04/05/1999 * |
15,000,000.00 |
STATE BANK OF MAURITIUS LIMITED |
101; RAHEJA CENTRE,
FREE PRESS JOURNAL ROAD; NARI |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
15.556 |
0.000 |
|
Loans and advances from related parties |
37.588 |
49.673 |
|
|
|
|
|
Total |
53.144 |
49.673 |
OPERATIONS
The Company's performance has been good. The Company has registered Net Profit of Rs.62.593 Million in the year as against Rs. 40.574 Million in the previous year.
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer Software
·
Vehicle
·
Electrical Equipment
·
Other Equipment
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. 63.89 |
|
|
1 |
Rs. 99.10 |
|
Euro |
1 |
Rs. 70.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAR |
|
|
|
|
Analysis Done by
: |
DIP |
|
|
|
|
Report Prepared
by : |
IND |
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 |
|
--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 |
|
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.