MIRA
INFORM REPORT
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Report No. : |
333997 |
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Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
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Name : |
ARYA OMNITALK WIRELESS SOLUTIONS PRIVATE LIMITED (w.e.f. 29.06.2005) |
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Formerly Known
As : |
ARYA OMNITALK WIRELESS SOLUTIONS LIMITED ARVIND CELLULAR SERVICES LIMITED |
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Registered
Office : |
Arvind Mills Limited, |
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Tel. No.: |
91-79-30138000 |
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Country : |
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Financials (as on)
: |
31.03.2014 |
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Date of
Incorporation : |
13.02.1995 |
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Com. Reg. No.: |
04-024599 |
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Capital
Investment / Paid-up Capital : |
Rs. 20.000 Million |
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CIN No.: [Company Identification
No.] |
U31100GJ1995PTC024599 |
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IEC No.: |
0804001316 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACO5172E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Fleet Tracking Management Solutions and Auto Routing
Solutions under its |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 incorporated during the year 1995.
It is a joint venture between Arvind Mills and J M Baxi Group. It is an
established company having satisfactory track record. For the financial year 2014, the company possesses healthy financial
risk profile. Management has reported decent sales turnover along with good
profitability margin of 7.3%. Further, the rating takes into consideration company’s strong
financial risk profile marked by decent net worth position along with low
borrowing taken by the company. Also, it has favorable gap between trade
payables and receivables. Trade relations are reported as fair. Payment terms are usually
correct. In view of strong financial base, the company can be considered for
business dealings at usual trade terms and condition. |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Cash Credit=BBB+ |
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Rating Explanation |
Moderate degree of safety and moderate
credit risk |
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Date |
August, 14 |
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Rating Agency Name |
ICRA |
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Rating |
Short Term Bank Facilities=A2 |
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Rating Explanation |
Strong degree of safety and low credit risk |
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Date |
August, 14 |
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
MANAGEMENT NON-COOPERATIVE
(Contact No: 91-79-30138000)
LOCATIONS
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Registered Office : |
Arvind Mills Limited, Naroda Road, Ahmedabad-380025, Gujarat, India |
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Tel. No.: |
91-79-30138000 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Sanjeev Kanubhai Parikh |
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Designation : |
Director |
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Address : |
101, Rushabh, Junction Off 8th and 10th Road,, Khar
(West), Mumbai-400052, Maharashtra, India |
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Date of Birth/Age : |
24.10.1949 |
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Date of Appointment : |
27.05.2002 |
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DIN No.: |
00030568 |
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Other Directorship :
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Name : |
Mr. Mayank Jayantilal Shah |
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Designation : |
Director |
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Address : |
B / 605, Raj Residency - I, Mahavir Nagar, Dhanukarwadi,
Kadivali (West), Mumbai- 400067, Maharashtra, India |
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Date of Birth/Age : |
06.05.1960 |
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Date of Appointment : |
05.09.2009 |
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DIN No.: |
00076380 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Shyam Sundar Agarwal |
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Designation : |
Secretary |
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Address : |
A-1,501, Windsor Avenue , Opposite Azad Nagar, Salunke
Vihar Road, Pune- 411022, Maharashtra, India |
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Date of Birth/Age : |
07.08.1967 |
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Date of Appointment : |
29.06.2010 |
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PAN No.: |
ABNPA2635B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
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No. of Shares |
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The Arvind Mills Limited, India |
|
999760 |
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Arvind N Lalbhai |
|
40 |
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Sanjay S Lalbhai |
|
40 |
|
Jayesh K Shah |
|
40 |
|
Vinod D Modha |
|
40 |
|
Ajit B Mnagtani |
|
40 |
|
Bhupendra M Shah |
|
40 |
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United Liner Agencies of India Private Limited, India |
|
166670 |
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Container Movement (Bombay) Transport Private Limited, India |
|
166666 |
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Aryadoot Transport Private Limited, India |
|
499998 |
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Arya Offshore Services Private Limited, India |
|
166666 |
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Total |
|
2000000 |
AS ON 29.09.2014
|
Equity Share Breakup |
Percentage of Holding |
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Category |
|
|
Bodies
corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Fleet Tracking Management Solutions and Auto Routing
Solutions under its Mobile Data Application Business. |
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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 : |
Not Divulged |
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Bankers : |
·
IDBI Bank Limited ·
Yes Bank Limited 9th Floor, Nehru Centre,
Discovery of India, DR. Annie Besant Road, Worli, Mumbai - 400018,
Maharashtra, India ·
Corporation Bank Aditi
Commerce Centre, General Thimmaya Road East Street, camp, Pune-411001,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V J Shroff and Company Chartered Accountants |
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Address : |
303, Prayushi Apartments, P. NO. 42B, Behind Dena Bank, S. V. Road,
Santacruz (West), Mumbai-400054, Maharashtra, India |
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Tel. No.: |
91-79-26484870 |
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Fax No.: |
91-79-26611923 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAGFV9881L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Company in which KMP/ relatives of KMP can
exercise significant influence: |
Arya Omnitalk
Radio Trunking Services Private Limited |
CAPITAL STRUCTURE
AFTER 29.09.2014
Authorised Capital : Rs. 100.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 20.000 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000
Million |
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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 |
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|
|
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(1)Shareholders' Funds |
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|
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(a) Share Capital |
20.000 |
20.000 |
20.000 |
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(b) Reserves & Surplus |
179.904 |
138.877 |
108.215 |
|
(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) |
199.904 |
158.877 |
128.215 |
|
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(3) Non-Current
Liabilities |
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|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.165 |
0.013 |
0.631 |
|
(d) long-term
provisions |
7.780 |
6.522 |
5.222 |
|
Total Non-current
Liabilities (3) |
7.945 |
6.535 |
5.853 |
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(4) Current Liabilities |
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|
|
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(a)
Short term borrowings |
43.226 |
34.096 |
18.084 |
|
(b)
Trade payables |
162.430 |
182.411 |
156.638 |
|
(c)
Other current liabilities |
35.115 |
25.079 |
33.161 |
|
(d) Short-term
provisions |
33.307 |
29.124 |
19.780 |
|
Total Current
Liabilities (4) |
274.078 |
270.710 |
227.663 |
|
|
|
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|
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TOTAL |
481.927 |
436.122 |
361.731 |
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II.
ASSETS |
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(1) Non-current assets |
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
20.274 |
21.151 |
20.109 |
|
(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 |
1.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.106 |
5.942 |
7.200 |
|
(d) Long-term Loan and Advances |
5.941 |
10.144 |
6.743 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
27.321 |
37.237 |
34.052 |
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
39.029 |
40.793 |
0.000 |
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(b)
Inventories |
178.491 |
135.979 |
103.639 |
|
(c)
Trade receivables |
196.829 |
186.776 |
174.211 |
|
(d) Cash
and cash equivalents |
20.523 |
23.987 |
38.591 |
|
(e)
Short-term loans and advances |
15.300 |
8.292 |
7.930 |
|
(f) Other
current assets |
4.434 |
3.058 |
3.308 |
|
Total
Current Assets |
454.606 |
398.885 |
327.679 |
|
|
|
|
|
|
TOTAL |
481.927 |
436.122 |
361.731 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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SALES |
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|
|
|
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|
|
Income |
548.835 |
530.001 |
|
|
|
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Other Income |
6.948 |
4.341 |
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|
|
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TOTAL |
555.783 |
534.342 |
543.880 |
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|
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Less |
EXPENSES |
|
|
|
|
|
|
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TOTAL |
488.628 |
481.913 |
500.570 |
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PROFIT BEFORE
TAX |
67.155 |
52.429 |
43.310 |
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Less |
TAX |
26.128 |
21.767 |
14.811 |
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PROFIT AFTER TAX
|
41.027 |
30.662 |
28.499 |
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
39.122 |
42.832 |
|
|
|
Accessories and Spares |
|
2.937 |
3.823 |
|
|
TOTAL IMPORTS |
NA |
42.059 |
46.655 |
|
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|
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|
Earnings Per
Share (Rs.) |
20.51 |
15.33 |
14.25 |
|
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 |
41.831 |
15.042 |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
NA |
29.831 |
9.542 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.48 |
5.79 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.97 |
12.19 |
12.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.33 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.22 |
0.21 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66 |
1.47 |
1.44 |
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 |
20.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
108.215 |
138.877 |
179.904 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
128.215 |
158.877 |
199.904 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
18.084 |
34.096 |
43.226 |
|
Total
borrowings |
18.084 |
34.096 |
43.226 |
|
Debt/Equity
ratio |
0.141 |
0.215 |
0.216 |
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) |
|
Sales |
543.880 |
530.001 |
548.835 |
|
|
|
(2.552) |
3.554 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
543.880 |
530.001 |
548.835 |
|
Profit |
28.499 |
30.662 |
41.027 |
|
|
5.24% |
5.79% |
7.48% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
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 |
10570317 |
06/05/2015 |
250,000,000.00 |
IDBI BANK LIMITED |
CORPORATE BRANCH,
201, PRIDE HOUSE BUILDING,, GAN |
C54044409 |
|
2 |
10325043 |
14/12/2011 |
170,000,000.00 |
CORPORATION BANK |
ADITI COMMERCE
CENTER, GENRAL THIMMAYA ROAD,, EAS |
B28526713 |
OPERATION:
As compared to last year the company has registered growth of 4.01% in
Sales and Other Income and 34% in PAT.
CORPORATE
INFORMATION:
Arya Omnitalk Wireless Solutions Private limited (‘AOWSPL’ or ‘the
Company’) was incorporated on 13 February 1995 as ‘Arvind Cellular Services
Limited’. The name of the company was subsequently changed to ‘Telelink
Cellular Limited’ on 3 April 1995. ‘Omnitalk Wireless Solutions’ on 23 February
2000, ‘Árya Omnitalk Wireless Solutions Limited’ on 23 July 2002 and finally to
‘Arya Omnitalk Wireless Solutions Private limited’ on 29 June 2005.
The Registered Office of the company is at Ahmedabad. The company manage
the radio trunking business of its principal shareholders. The company is also
engaged in providing Fleet Tracking Management Solutions and Auto Routing
Solutions under its Mobile Data Application Business. Further, the business of
the company also involves trading in all kinds of wireless equipment in the
Indian market.
The company has entered into contracts with L and T Limited (‘L AND T’ to design supply,
install, test and commission an appropriate Radio Communication System for
National Highways Authority of India (NHAI). The company had entered into a
consortium arrangement, with a French based Company, who as a sub-contractor to
L and T, would supply and maintain Highway Tell Management Systems for L and
T’S National Highway projects awarded by NHAI.
FIXED ASSETS:
Tangible Assets
·
Plant and Equipment
Furniture
and Fixtures
Office
Equipment
Computer
Electrical
Installation
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. 99.71 |
|
Euro |
1 |
Rs. 70.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
IND |
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.