MIRA INFORM REPORT
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Report No. : |
333345 |
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Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDO UNIQUE TRADING PRIVATE LIMITED |
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Registered
Office : |
401, Mehta Mahal, Building No.15, Mathew Road, 4th Floor, Opera House,
Mumbai – 400004, Maharashtra |
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Tel. No.: |
91-22-23693951 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
30.03.1971 |
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Com. Reg. No.: |
015080 |
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Capital
Investment / Paid-up Capital : |
Rs.81.928 Million |
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CIN No.: [Company Identification
No.] |
U51900MH1971PTC015080 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the manufacture and trade of rough and polished diamonds. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Rating takes into consideration, subject below average financial risk
profile marked by small scale of operations, working capital intensive nature
of operations, presence in highly competitive industry and the exposure of
the company to foreign exchange risk. However, these rating weaknesses are partially offset by expensive
experience of promoters and relatively low gearing. Trade relations are fair. Business is active. Payment terms are reported
to be slow but correct. In view of long track record of operations, the subject 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 |
ICRA |
|
Rating |
Short term fund based limits : A4 |
|
Rating Explanation |
Minimal degree of safety and high credit risk. |
|
Date |
February, 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 PARTED BY
|
Name : |
Mr. Bajinath Shukla |
|
Designation : |
Manager |
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Contact No.: |
91-22-23693951 |
|
Date : |
24.07.2015 |
LOCATIONS
|
Registered Office / Factory : |
401, Mehta Mahal, Building No.15, Mathew Road, 4th Floor, Opera House,
Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22-23693951 / 23611320 / 23611000 |
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Fax No.: |
91-22-23641433 / 23635640 |
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E-Mail : |
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Location : |
Rented [Commercial] |
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Branch Office : |
Surat, Gujarat, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Premkumar Madanlal Kedia |
|
Designation : |
Director |
|
Address : |
93/ Mount Unique, 12th Floor, Pedar Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1950 |
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Date of Appointment : |
27.09.1974 |
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DIN No.: |
00105168 |
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Name : |
Kusumlata Premkumar Kedia |
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Designation : |
Director |
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Address : |
93/ Mount Unique, 12th Floor, Pedar Road, Mumbai - 400026, Maharashtra, India |
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Date of Birth/Age : |
22.06.1952 |
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Date of Appointment : |
14.04.1985 |
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DIN No.: |
01499460 |
KEY EXECUTIVES
|
Name : |
Mr. Bajinath Shukla |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
PremKumar Kedia |
518508 |
63.29 |
|
Kusumlata Kedia |
209132 |
25.53 |
|
Aditya Kedia |
70070 |
8.55 |
|
Gunjan Agarwal |
21560 |
2.63 |
|
Isha Kedia |
10 |
0.00 |
|
Total |
819280 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the manufacture and trade of rough and polished diamonds. |
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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 : |
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Products : |
Polished Diamonds |
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Countries : |
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Imports : |
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Products : |
Rough Diamond |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers
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No. of Employees : |
20 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
ABN and Company Chartered Accountants |
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Address : |
612 , Vakratunda, Corporate Park , Vishweshwar Nagar, Near UDIPI Vihar, Off Aarey Road, Goregaon (East), Mumbai-400063, Maharashtra, India |
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PAN No.: |
ADHPK0989Q |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
--- |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
819,280 |
Equity Shares |
Rs.100/- each |
Rs.81.928 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
81.928 |
81.928 |
81.928 |
|
(b) Reserves &
Surplus |
95.088 |
58.910 |
23.367 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
177.016 |
140.838 |
105.295 |
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(3) Non-Current
Liabilities |
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|
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(a) long-term borrowings |
2.386 |
3.523 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
15.565 |
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) |
2.386 |
19.088 |
0.000 |
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(4) Current Liabilities |
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(a) Short term borrowings |
132.357 |
33.919 |
231.844 |
|
(b) Trade payables |
103.967 |
77.004 |
96.163 |
|
(c) Other current
liabilities |
3.234 |
10.699 |
1.375 |
|
(d) Short-term provisions |
0.186 |
9.803 |
0.000 |
|
Total Current Liabilities
(4) |
239.744 |
131.425 |
329.382 |
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TOTAL |
419.146 |
291.351 |
434.677 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
53.733 |
55.731 |
14.066 |
|
(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) |
0.109 |
0.000 |
0.241 |
|
(d) Long-term Loan and Advances |
7.871 |
12.563 |
3.167 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
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Total Non-Current Assets |
61.713 |
68.294 |
17.474 |
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(2) Current assets |
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|
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(a) Current investments |
58.583 |
25.148 |
12.868 |
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(b) Inventories |
48.891 |
66.098 |
72.729 |
|
(c) Trade receivables |
224.197 |
119.226 |
326.100 |
|
(d) Cash and cash
equivalents |
16.375 |
11.649 |
2.797 |
|
(e) Short-term loans and
advances |
9.387 |
0.936 |
2.709 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
357.433 |
223.057 |
417.203 |
|
|
|
|
|
|
TOTAL |
419.146 |
291.351 |
434.677 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
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Income |
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Other Income |
|
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|
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TOTAL |
477.191 |
405.518 |
628.028 |
|
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Less |
EXPENSES |
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TOTAL |
443.102 |
351.194 |
620.255 |
|
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PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
34.089 |
54.324 |
7.773 |
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.907 |
0.997 |
0.873 |
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PROFIT/ (LOSS) BEFORE TAX |
30.182 |
53.327 |
6.900 |
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Less |
TAX |
(5.997) |
17.784 |
1.460 |
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PROFIT/ (LOSS) AFTER TAX
|
36.179 |
35.543 |
5.440 |
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Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
58.909 |
23.366 |
17.926 |
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Balance Carried to the
B/S |
95.088 |
58.909 |
23.366 |
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Earnings / (Loss) Per
Share (Rs.) |
44.16 |
43.38 |
6.64 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
550.000 |
The above information has been parted by Mr. Bajinath Shukla (Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(36.908) |
268.111 |
NA |
|
Net cash flows from (used in) operating activities |
(49.097) |
206.588 |
(1.693) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total income) |
(%) |
7.58 |
8.76 |
0.87 |
|
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|
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.20 |
18.30 |
1.59 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.38 |
0.07 |
|
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|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.76 |
0.27 |
2.20 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49 |
1.70 |
1.27 |
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 |
81.928 |
81.928 |
81.928 |
|
Reserves & Surplus |
23.367 |
58.910 |
95.088 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
105.295 |
140.838 |
177.016 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
3.523 |
2.386 |
|
Short term borrowings |
231.844 |
33.919 |
132.357 |
|
Total borrowings |
231.844 |
37.442 |
134.743 |
|
Debt/Equity ratio |
2.202 |
0.266 |
0.761 |
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 |
628.028 |
405.518 |
477.191 |
|
|
|
-35.430 |
17.674 |
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 |
628.028 |
405.518 |
477.191 |
|
Profit |
5.440 |
35.543 |
36.179 |
|
|
0.87% |
8.76% |
7.58% |
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 |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem and Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28% in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in February
2013. A senior executive of GJEPC said, “Export of cut and polished diamonds
started falling month-wise after the imposition of 2 % of import duty on the
polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28%. It
means the industry is on the track of recovery and round tripping of diamonds
has stopped completely.” Demand has started coming from the US, the UK, Japan
and China. India’s polished diamond export is expected to cross $ 21 bn in
2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10358556 |
04/05/2012 |
35,000,000.00 |
STATE BANK OF PATIALA |
INDER TOWER, GOKHALE ROAD (SOUTH),, DADAR (WEST), |
B40792327 |
|
2 |
10267656 |
14/09/2011 * |
105,000,000.00 |
STATE BANK OF PATIALA |
INDER TOWER,, GOKHALE ROAD(SOUTH), DADAR (WEST), |
B29244530 |
|
3 |
80018270 |
15/11/2006 * |
80,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, 23-25, M G ROAD,, FORT,, MUMBAI, MAHA |
- |
|
4 |
80017233 |
13/11/2006 * |
7,500,000.00 |
STATE BANK OF INDORE |
214, D.N. ROAD, FORT, MUMBAI, MAHARASHTRA - 40000 |
- |
* Date of charge modification
FIXED ASSETS
- Buildings
- Office building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Motor Car & Scooter
- Air Conditioner
- Plant & Machinery
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.63.89 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.