MIRA INFORM REPORT
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Report No. : |
325554 |
|
Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAGDISH PRECISIONS CAST PRIVATE LIMITED |
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|
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Registered
Office : |
Survey No 213 Plot No 3 and 48-B National High Way, Veraval (Shaper) Taluka Kotada, Rajkot-360002, Gujarat |
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Tel. No.: |
91-2827-253607 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.11.2004 |
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Com. Reg. No.: |
04-044993 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.000 Million |
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CIN No.: [Company Identification
No.] |
U27310GJ2004PTC044993 |
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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
: |
Manufacturer of PGV Body Valves, Ferrous and Non Ferrous investment castings, electrical engineering casting products, general casting machinery, machined casting component etc. |
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|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in 2004 and it is established company having
moderate track record. Company have performed below average in its operations and incurred continues
losses during the years, due to which the reserves of the company reported to
be low which hampered the net worth position of the company. However, trade relations are fair. Business is active. Payments terms
are slow but correct. In view of operation the company can be considered for the business
dealings with some cautions. |
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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Jeetu |
|
Designation : |
Finance Department |
|
Contact No.: |
91-2827-253607 |
|
Date : |
30.05.2015 |
LOCATIONS
|
Registered Office : |
Survey No 213 Plot No 3 and 48-B National High Way, Veraval (Shaper) Taluka Kotada, Rajkot-360002, Gujarat, India |
|
Tel. No.: |
91-2827-253607 |
|
Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
AS ON 30.08.2014
|
Name : |
|
|
Designation : |
Director |
|
Address : |
Ashok Nagar Society, B/No.21, Junagadh-362001, Gujarat, India |
|
Date of Birth/Age : |
10.09.1965 |
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Date of Appointment : |
05.11.2004 |
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DIN No.: |
00462419 |
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Other Directorship: |
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|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27310GJ2004PTC044993 |
JAGDISH
PRECISIONS CAST PRIVATE LIMITED |
Director |
05/11/2004 |
05/11/2004 |
Active |
NO |
|
2 |
U45200GJ2014PTC081512 |
STHAPANA
RESIDENCY PRIVATE LIMITED |
Director |
11/12/2014 |
11/12/2014 |
Active |
NO |
|
3 |
U24100GJ2013PTC073351 |
ADROIT
PHARMACHEM PRIVATE LIMITED |
Director |
21/03/2015 |
21/03/2015 |
Active |
NO |
|
Name : |
|
|
Designation : |
Director |
|
Address : |
362 Takshashika Society, Phulchhab Chowk, Rajkot-360001, Gujarat,
India |
|
Date of Birth/Age : |
08.10.1977 |
|
Date of Appointment : |
05.11.2004 |
|
DIN No.: |
00462426 |
|
Other Directorship: |
|
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27310GJ2004PTC044993 |
JAGDISH
PRECISIONS CAST PRIVATE LIMITED |
Director |
05/11/2004 |
05/11/2004 |
Active |
NO |
|
2 |
U72200GJ2011PTC067022 |
MERLIN TECSOL
PRIVATE LIMITED |
Director |
06/09/2011 |
06/09/2011 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Jeetu |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.08.2014
Note: Shareholders details file attached
Equity Share Break up (Percentage of Total Equity)
AS ON 30.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PGV Body Valves, Ferrous and Non Ferrous investment
castings, electrical engineering casting products, general casting machinery,
machined casting component etc. |
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Products : |
Not Available |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, Cheque |
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Purchasing : |
Cash, Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
ICICI Bank, Rajkot, Gujarat, India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Gadhia Karachiwala and Company Chartered Accountants |
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Address : |
307, Heera Panna, 3rd Floor, Dr. Yagnik Road,
Rajkot-360001, Gujarat, India |
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Tel. No.: |
91-2827-2460806 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ABNPG1630Q |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
Jagdish Technocast Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs. 2.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs. 2.000 Million |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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|
|
|
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I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
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|
(a) Share Capital |
2.000 |
2.000 |
2.000 |
|
(b) Reserves & Surplus |
9.418 |
13.556 |
16.025 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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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) |
11.418 |
15.556 |
18.025 |
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|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
30.964 |
30.145 |
28.838 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.560 |
|
(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) |
30.964 |
30.145 |
29.398 |
|
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|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
10.864 |
9.160 |
12.651 |
|
(c) Other current liabilities |
1.446 |
1.991 |
0.422 |
|
(d) Short-term provisions |
0.727 |
0.540 |
1.515 |
|
Total
Current Liabilities (4) |
13.037 |
11.691 |
14.588 |
|
|
|
|
|
|
TOTAL |
55.419 |
57.392 |
62.011 |
|
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|
|
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II.
ASSETS |
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|
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|
(1) Non-current assets |
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
16.088 |
16.615 |
16.717 |
|
(ii) Intangible Assets |
0.006 |
0.011 |
0.017 |
|
(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) |
2.446 |
0.619 |
0.000 |
|
(d) Long-term Loan and Advances |
0.959 |
1.374 |
3.359 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
19.499 |
18.619 |
20.093 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6.267 |
7.741 |
8.359 |
|
(c) Trade receivables |
28.370 |
28.328 |
31.175 |
|
(d) Cash and cash equivalents |
0.681 |
1.325 |
1.760 |
|
(e) Short-term loans and
advances |
0.602 |
1.379 |
0.624 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
35.920 |
38.773 |
41.918 |
|
|
|
|
|
|
TOTAL |
55.419 |
57.392 |
62.011 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
59.501 |
76.026 |
124.288 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
(A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
|
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|
Purchases of Stock-in-Trade |
|
|
|
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|
Other expenses |
|
|
|
|
|
TOTAL
(B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(2.929) |
1.859 |
10.686 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.850 |
3.288 |
3.559 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(3.779) |
(1.429) |
7.127 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
2.185 |
2.229 |
2.169 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(5.964) |
(3.658) |
4.958 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.827) |
(1.189) |
1.550 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(4.137) |
(2.469) |
3.408 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
13.556 |
16.025 |
12.617 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
9.419 |
13.556 |
16.025 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(206.87) |
(151.46) |
1.70 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
(6.95) |
(3.25) |
2.74 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
(4.92) |
2.45 |
8.60 |
|
|
|
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.26) |
(6.44) |
8.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.52) |
(0.24) |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liabilities /Networth) |
|
2.71 |
1.94 |
1.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.76 |
3.32 |
2.87 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
2.000 |
2.000 |
2.000 |
|
Reserves & Surplus |
16.025 |
13.556 |
9.418 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
18.025 |
15.556 |
11.418 |
|
|
|
|
|
|
long-term borrowings |
28.838 |
30.145 |
30.964 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities Of
Long-Term Debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
28.838 |
30.145 |
30.964 |
|
Debt/Equity
ratio |
1.600 |
1.938 |
2.712 |
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 |
124.288 |
76.026 |
59.501 |
|
|
|
(38.831) |
(21.736) |
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 |
124.288 |
76.026 |
59.501 |
|
Profit |
(7.278) |
(4.328) |
(4.137) |
|
|
(5.86)% |
(5.69)% |
(6.95)% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From Shareholders and Directors |
30.747 |
29.695 |
|
|
|
|
|
Total |
30.747 |
29.695 |
INDEX OF CHARGES - No Charges Exist for Company
OPERATIONAL
The turnover for the year is Rs. 59.501 Million as against Rs. 76.026
Million for the previous year ended 31.03.2013. The company has made net loss
after depreciation and taxation of Rs. 4.137 Million for the year as against
loss of Rs. 2.469 Million for the immediately previous year. Turnover for the
year is considerably decreased. Decrease in turnover and profit is mainly on
account of recession in the market and in particular in investment casting
industries which has resulted in unhealthy price cutting / competition in the
industries which has reduced the profit margin, to turn the corner the
directors have added one more item of casting i.e. sand casting from last
quarter on 2012-13. Further the directors have also adopted the policy to
concentrate on the production of the items / Articles having sufficient margin
of profit and are very much hopeful on account of these two decision the
company will perform far better in the next year and will turn the corner.
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Dies
- Computer
- Furniture and
Fixtures
- Telephone
Equipment
- Testing
Equipment
- Camera
- Office AC
- Car
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 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.63.83 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KSY |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--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 |
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 |
|
30 |
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.