MIRA
INFORM REPORT
|
Report No. : |
334284 |
|
Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
PIMA CONTROLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4-A 4th Floor |
|
Tel. No. : |
91-79-40210400/424/425/435 |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.10.1985 |
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|
|
|
Com. Reg. No.: |
04-008195 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.335 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200GJ1985PTC008195 |
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|
IEC No.: |
0898006325 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACP9160F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Distributor and Importer of Industrial Control Panels
and Automation. |
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|
|
|
No. of Employees
: |
50 (Approximately) |
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 |
|
|
|
|
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 company net worth is good. Its financial position seems to be
sound and healthy profitability of the company is fair. Company’s business is active. Trade relations are fair. Payment terms
are reported to be usually correct. The company can be considered for business dealing 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 |
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 PARTED BY
|
Name : |
Mr. Rakesh Shah |
|
Designation : |
Accountant |
|
Contact No.: |
91-79-40210400 |
|
Date : |
29.07.2015 |
LOCATIONS
|
Registered Office / Factory : |
4-A, 4th Floor, New York Corner, Opposite Rajpath Club,
Bodaldev, Ahmedabad – 380054, Gujarat, India |
|
Tel. No. : |
91-79-40210400/424/425/435 |
|
Mobile No.: |
91-9998809444 (Mr. Madhukar) |
|
Fax No. : |
91-79-40210410 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
Locality: |
Commercial |
DIRECTORS
As on 21.09.2014
|
Name : |
Mr. Madhukar Jayantilal Parikh |
|
Designation : |
Director |
|
Address : |
B3, Himmatlal Park, BH Azad Society, Ambawadi, Ahmedabad – 380006,
Gujarat, India |
|
Date of Birth/Age : |
01.08.1947 |
|
Date of Appointment : |
18.10.1985 |
|
DIN No. : |
00093978 |
|
|
|
|
Name : |
Mr. Vineet Madhukar Parikh |
|
Designation : |
Director |
|
Address : |
B3, Himmatlal Park, BH Azad Society, Ambawadi, Ahmedabad – 380006,
Gujarat, India |
|
Date of Birth/Age : |
30.07.1975 |
|
Date of Appointment : |
01.07.2002 |
|
DIN No. : |
00094119 |
|
|
|
|
Name : |
Mrs. Veena Madhukar Parikh |
|
Designation : |
Director |
|
Address : |
B3, Himmatlal Park, BH Azad Society, Ambawadi, Ahmedabad – 380006,
Gujarat, India |
|
Date of Birth/Age : |
10.08.1952 |
|
Date of Appointment : |
01.04.1995 |
|
DIN No. : |
00317684 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Shah |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Madhukar J.Parikh |
|
13420 |
|
Madhukar J.Parikh |
|
1800 |
|
Vineet Madhukar .Parikh |
|
800 |
|
Pravit Madhukar .Parikh |
|
477 |
|
Jayantilal M.Parikh |
|
225 |
|
Veena M.Parikh |
|
5410 |
|
Jayantilal M.Parikh |
|
1215 |
|
Total |
|
23347 |
Equity Share Break up (Percentage of Total Equity)
As on 21.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Distributor and Importer of Industrial Control Panels
and Automation. |
|
|
|
|
Products : |
Not Available |
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|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
|
Countries : |
·
USA ·
Singapore |
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Terms : |
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Selling : |
Cash / Credit |
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|
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
HDFC Bank Limited, Paldi, Ahmedabad, Gujrat, India |
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Facilities : |
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shreekant S Shah and Company Chartered Accountants |
|
Address : |
11, Krishna Apartments, 2nd
Floor, Near Choice Restaurant, Navrangpura, Ahmedabad – 380009,
Gujarat, India |
|
Tel. No. : |
91-79-26425541 / 26441102 |
|
Fax No. : |
91-79-26430843 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACCFS7540R |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 21.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23,347 |
Equity Shares |
Rs.10/- each |
Rs.2.335
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 |
2.335 |
2.335 |
2.335 |
|
(b) Reserves & Surplus |
87.540 |
86.083 |
82.821 |
|
(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) |
89.875 |
88.418 |
85.156 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.796 |
1.833 |
2.540 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.406 |
0.949 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.465 |
|
Total Non-current Liabilities (3) |
0.796 |
2.239 |
3.954 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
19.201 |
15.866 |
13.628 |
|
(b) Trade payables |
36.490 |
34.622 |
39.672 |
|
(c) Other current
liabilities |
3.616 |
3.407 |
5.733 |
|
(d) Short-term provisions |
3.379 |
5.593 |
6.912 |
|
Total Current Liabilities (4) |
62.686 |
59.488 |
65.945 |
|
|
|
|
|
|
TOTAL |
153.357 |
150.145 |
155.055 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8.681 |
8.174 |
9.252 |
|
(ii) Intangible Assets |
1.355 |
2.258 |
3.763 |
|
(iii) Capital
work-in-progress |
0.000 |
0.346 |
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) |
0.146 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.000 |
6.000 |
2.500 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
17.182 |
16.778 |
15.515 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
47.651 |
46.738 |
55.853 |
|
(c) Trade receivables |
75.930 |
74.363 |
69.957 |
|
(d) Cash and cash
equivalents |
4.589 |
3.607 |
4.428 |
|
(e) Short-term loans and
advances |
3.295 |
1.922 |
1.490 |
|
(f) Other current assets |
4.710 |
6.737 |
7.812 |
|
Total Current Assets |
136.175 |
133.367 |
139.540 |
|
|
|
|
|
|
TOTAL |
153.357 |
150.145 |
155.055 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
291.545 |
293.568 |
245.386 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.174 |
11.690 |
16.264 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.310 |
2.871 |
2.654 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.864 |
8.819 |
13.610 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.524 |
3.251 |
3.950 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.340 |
5.568 |
9.660 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.444 |
2.307 |
2.725 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.896 |
3.261 |
6.935 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
72.773 |
70.012 |
65.804 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.250 |
0.500 |
1.100 |
|
|
|
Dividend |
0.000 |
0.000 |
1.401 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.227 |
|
|
BALANCE CARRIED
TO THE B/S |
74.419 |
72.773 |
70.011 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Sales |
0.087 |
0.038 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
81.20 |
139.69 |
297.06 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
310.000 |
The above information has been parted by Mr. Rakesh Shah (Accountant)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.65 |
1.11 |
2.83 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.80 |
3.98 |
6.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.53 |
3.72 |
6.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.06 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.22 |
0.20 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17 |
2.24 |
2.12 |
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 |
2.335 |
2.335 |
2.335 |
|
Reserves & Surplus |
82.821 |
86.083 |
87.540 |
|
Net
worth |
85.156 |
88.418 |
89.875 |
|
|
|
|
|
|
long-term borrowings |
2.540 |
1.833 |
0.796 |
|
Short term borrowings |
13.628 |
15.866 |
19.201 |
|
Total
borrowings |
16.168 |
17.699 |
19.997 |
|
Debt/Equity
ratio |
0.190 |
0.200 |
0.222 |
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 |
245.386 |
293.568 |
291.545 |
|
|
|
19.635 |
(0.689) |
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 |
245.386 |
293.568 |
291.545 |
|
Profit |
6.935 |
3.261 |
1.896 |
|
|
2.83% |
1.11% |
0.65% |
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 |
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 |
Yes |
|
26] |
Turnover of firm for last four 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 |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties (of the above, NIL is guaranteed by Directors and / or others) |
0.630 |
1.298 |
|
|
|
|
|
Total |
0.630 |
1.298 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10538158 |
09/05/2015 * |
60,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C53628350 |
|
2 |
10533212 |
26/11/2014 |
10,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C34937953 |
* Date of charge modification
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
- Factory
Buildings
- Office
Air-Conditioners
- Office
Air-Conditioners
- Factory
Plant
and Machinery
Tools
and Equipments
Office
equipments
Office
equipments - Factory
Vehicles
Computer
Furniture
and Fixtures
Furniture
and Fixtures - Factory
Ele.Fixtures
and Fittings
Ele.Fixtures
and Fittings - Factory
v
Intangible Assets
Computer
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.99.71 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DHR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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.