MIRA INFORM REPORT

 

 

Report No. :

333876

Report Date :

31.07.2015

 

IDENTIFICATION DETAILS

 

Name :

DERIK MONOFIL PRIVATE LIMITED

 

 

Registered Office :

89 – C, 1st Floor, PWD Office Road, Chettikulam, Nagercoil – 629002, Tamilnadu

Tel. No.:

91-4652-261956

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.04.1999

 

 

Com. Reg. No.:

18-042374

 

 

Capital Investment / Paid-up Capital :

Rs.18.688 Million

 

 

CIN No.:

[Company Identification No.]

U17111TN1999PTC042374

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Trader, Importer and Exporter of Fishing Net. 

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 95000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a part of "Derik Group". It is an established company having satisfactory track record.

 

The company reported increase in its sales turnover from its previous years. Rating take consideration on decent capital structure, net worth and above average debt protection metrics.

 

The rating further take consideration on decent experience of the promoters and established track record of the command.

 

However the rating is partially offsets by the company low profitability margin.

 

Trade relations are fair. Business is active. Payments terms are reported to be usually correct.

 

In view of experienced promoters, the company can be considered normal for business dealing with its 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.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

 

INFORMATION DECLINED BY

 

Name :

Mr. Thomas Prabhu

Designation :

Accounts Department

Contact No.:

91-9786528606

Date :

30.07.2015

 

 

                                                                           LOCATIONS

 

Registered Office :

89 – C, 1st Floor, PWD Office Road, Chettikulam, Nagercoil, Kanyakumari – 629002, Tamilnadu, India

Tel. No.:

91-4652-261956

Fax No.:

Not Available

E-Mail :

dfishnet@gmail.com

derik@sancharnet.in

Website :

www.derikmonofil.com

 

 

Corporate Office:

12-98B, Ananda Nadar Kudy, vembanur Village, Asaripallam Nagarcoil – 629002, Tamilnadu, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Francis Fernando Joseph Stalin

Designation :

Managing Director

Address :

No. 19 B, Jawahar Street, Ramavarmapuram, Nagercoil, Kanyakumari – 629001, Tamilnadu, India

Date of Birth/Age :

10.05.1957

Date of Appointment :

28.04.1999

DIN No. :

00995749

 

 

Name :

Kasthuri Stalin

Designation :

Director

Address :

No. 19 B, Jawahar Street, Ramavarmapuram, Nagercoil, Kanyakumari – 629001, Tamilnadu, India

Date of Birth/Age :

31.03.1958

Date of Appointment :

16.01.2015

DIN No. :

02286675

 

 

KEY EXECUTIVES

 

Name :

Mr. Thomas Prabhu

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Francis Fernando Joseph Stalin

 

86872

Kasthuri Stalin

 

60002

Derik Stalin

 

40004

Total

 

186878

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing Wood Plastic Composite (WPC) Products

 

 

Products :

Wood Plastic Composite (WPC) Products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

Canara Bank

Branch Address

College, Road, Nagercoil – 629001, Tamilnadu, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans from Banks :

 

 

Axis Bank (A/c No.96837)

2.878

8.889

Canara Bank (A/c No.17928)

0.274

0.380

Canara Bank (A/c No.17930)

0.000

0.190

Canara Bank (A/c No.17505)

0.050

0.177

SHORT TERM BORROWING

 

 

Loan repayable on demand :

From Banks :

Canara Bank O.C.C. A/c No.10321

(Secured by hypothecation of stock)

13.861

18.083

Total

17.063

27.719

 

NOTE:

 

Nature of security and terms of repayment for Long-term secured borrowings :

 

 

Nature of Security

Term of Repayment

Axis Bank Term Loan A/c No.96837

is secured by specific charge on WPC Machinery acquired under the loan

Repayable in 60 monthly installments commencing from 21st February 2011. Last installment due on 21st February 2016. Rate of Interest 12.75% p.a. as at year end.

Canara Bank Term Loan A/c No.17928 is secured by specific charge on EICHER Vehicle acquired

under the loan

Repayable in 60 monthly installments commencing from 10th February 2012. Last installment due on 10th February 2017. Rate of Interest 13.5% p.a. as at year end.

Canara Bank Term Loan A/c No.17505 is secured by specific charge on Dost Vehicle acquired under the loan

Repayable in 36 monthly installments commencing from 25th July 2012. Last installment due on 25th June 2015. Rate of Interest 13.75% p.a. as at year end

Installments falling due in respect of all the above loans upto 31-3-2015 have been grouped under “Current maturities of long-term debts”

 

Auditors :

 

Name :

B. Thanu Pillai and Company

Chartered Accountants

Address :

No. 18 (Upstairs), Malik Mahal, North Car Street, Nagercoil – 629001, Tamilnadu, India

PAN N Income-tax PAN of auditor or auditor's firm :

ADIPK5474F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises in which Key : Management Personnel Interested:

·         Derik Mart (Private) Limited

·         Derik Motor (Private) Limited

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

220000

Equity Shares

Rs.100/- each

Rs. 22.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

186878

Equity Shares

Rs.100/- each

Rs. 18.688 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

18.688

18.688

14.937

(b) Reserves & Surplus

14.715

13.440

11.527

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

6.000

Total Shareholders’ Funds (1) + (2)

33.403

32.128

32.464

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

3.202

9.636

15.161

(b) Deferred tax liabilities (Net)

0.762

1.340

2.047

(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)

3.964

10.976

17.208

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

13.952

18.195

17.347

(b) Trade payables

39.745

22.296

25.284

(c) Other current liabilities

19.391

32.440

44.953

(d) Short-term provisions

0.054

0.003

0.372

Total Current Liabilities (4)

73.142

72.934

87.956

 

 

 

 

TOTAL

110.509

116.038

137.628

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

54.119

62.976

70.205

(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)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

4.046

3.963

4.069

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

58.165

66.939

74.274

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

19.870

27.741

46.912

(c) Trade receivables

24.760

15.558

7.110

(d) Cash and cash equivalents

4.364

3.259

3.039

(e) Short-term loans and advances

3.350

2.541

6.293

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

52.344

49.099

63.354

 

 

 

 

TOTAL

110.509

116.038

137.628

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

266.940

239.173

241.612

 

Other Income

0.365

0.480

0.515

 

TOTAL (A)

267.305

239.653

242.127

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

168.220

136.826

180.949

 

Purchases of Stock-in-Trade

2.368

2.514

4.010

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

7.334

18.748

(18.325)

 

Employees benefits expense

11.919

7.856

6.342

 

Other expenses

63.778

55.725

53.246

 

TOTAL (B)

253.619

221.669

226.222

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

13.686

17.984

15.905

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

2.375

4.467

3.732

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

11.311

13.517

12.173

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

10.237

12.027

10.665

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

1.074

1.490

1.508

 

 

 

 

 

Less

TAX (H)

(0.200)

(0.423)

0.509

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

1.274

1.913

0.999

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

0.875

2.912

7.002

 

TOTAL EARNINGS

0.875

2.912

7.002

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

22.623

11.993

28.933

 

Capital Goods (Machinery)

0.085

0.000

0.000

 

TOTAL IMPORTS

22.708

11.993

28.933

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

6.82

NA

NA 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

 

 

 

Canara Bank Loan A/c No.17505 (Dost Vehicle)

0.135

0.122

0.000

Axis Bank Loan A/c No.96837 (WPC Machine Loan)

5.556

5.000

5.000

Canara Bank Loan A/c No.17928 (EICHER Vehicle)

0.120

0.120

0.120

Canara Bank Loan A/c No.17930 (Mahindra Mini Van)

0.000

0.060

0.060

Total

5.811

5.302

5.180

 

 

 

 

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.48

0.80

0.41

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

5.13

7.52

6.58

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.97

1.28

1.10

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.03

0.05

0.05

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.69

1.03

1.16

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.72

0.67

0.72

 

 

 

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

14.937

18.688

18.688

Reserves & Surplus

11.527

13.440

14.715

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

6.000

0.000

0.000

Net worth

32.464

32.128

33.403

 

 

 

 

long-term borrowings

15.161

9.636

3.202

Short term borrowings

17.347

18.195

13.952

Current maturities of long-term debts

5.180

5.302

5.811

Total borrowings

37.688

33.133

22.965

Debt/Equity ratio

1.161

1.031

0.688

 

 

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

241.612

239.173

266.940

 

 

(1.009)

11.610

 

 

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

241.612

239.173

266.940

Profit

0.999

1.913

1.274

 

0.41%

0.80%

0.48%

 

 

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

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

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

No

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

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Loans and Advances from related parties :

 

 

Derik Stalin

0.000

0.059

Ronisha Stalin

0.000

0.053

Kasthuri Stalin

0.091

0.000

Total

0.091

0.112

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10247729

21/10/2010

25,000,000.00

AXIS BANK LIMITED

TIRUNELVELI BRANCH, NO.12 EAST CAR STREET, TIRUNE
LVELI, TAMIL NADU - 627006, INDIA

A98078835

2

80064353

16/11/2011 *

35,000,000.00

CANARA BANK

COLLEGE ROAD, NAGERCOIL, NAGERCOIL, TAMIL NADU -
629001, INDIA

B31881758

 

* Date of charge modification

 

FIXED ASSETS

 

·         Land

·         Building

·         Plant & Machinery

·         Furniture & Fittings

·         Electrical Fittings

·         Vehicles

·         Office Equipments

·         Computer

·         Airconditioner

·         Computer Printer

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.64.01

UK Pound

1

Rs.99.83

Euro

1

Rs.70.07

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

KVT

 

 

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

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--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

 

42

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.