MIRA INFORM REPORT
|
Report No. : |
325757 |
|
Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAWALWASIA YARN
DYEING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
113, Ratan Chambers, Salbatpura Main Road, Surat – 395002, Gujarat |
|
Tel. No.: |
91-261-2325393 / 2325739 / 2326795 / 4110017 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.10.1987 |
|
|
|
|
Com. Reg. No.: |
04-010099 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.10.860 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110GJ1987PTC010099 |
|
|
|
|
IEC No.: |
0890003475 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTR00122D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR1217N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Sizing Yarn and Texturized Yarn. |
|
|
|
|
No. of Employees
: |
05 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects company moderate financial risk profile marked by low
profit margin and also the borrowings recorded by the company are huge and
increasing. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank
facilities = B+ |
|
Rating Explanation |
High risk of
default |
|
Date |
December 05, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank
facilities = A4 |
|
Rating Explanation |
Minimal degree of
safety. It carry very high credit risk. |
|
Date |
December 05, 2014 |
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. Vipin Kushwaha |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-261-4110017 |
|
Date : |
03.06.2015 |
LOCATIONS
|
Registered Office : |
113, Ratan Chambers, Salbatpura Main Road, Surat – 395002, Gujarat,
India |
|
Tel. No.: |
91-261-2325393 / 2325739 / 2326795 |
|
Mobile No.: |
91-9824173969 (Sumit Agrawal) |
|
Fax No.: |
91-261-2329422 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No.B/2/P and B/3/P, Block No.57, R.S. No. 66, Pipodara, Mangrol,
Surat, Gujarat, India |
|
|
|
|
Factory 2 : |
Flat No.802, Rushab Apartment, Opposite Krishi Farm, Ghod Dod Road,
Surat, Gujarat, India |
DIRECTORS
As on 21.08.2014
|
Name : |
Mr. Sumit Hanmuman Prasad Agarwal |
|
Designation : |
Director |
|
Address : |
601, Rushabh Apartment, Krishi Farm Road, Ghod-Dod
Road, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
04.08.1982 |
|
Date of Appointment : |
10.09.2002 |
|
DIN No.: |
00056333 |
|
|
|
|
Name : |
Mr. Bhanwarlal Ugamaram Anwla |
|
Designation : |
Director |
|
Address : |
104, Koshar Park, Near Anaknanda Soc.,
Bhatar, Althan, Surat – 395017, Gujarat, India |
|
Date of Birth/Age : |
25.08.1964 |
|
Date of Appointment : |
08.05.2014 |
|
DIN No.: |
06864012 |
KEY EXECUTIVES
|
Name : |
Mr. Vipin Kushwaha |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS
As on 21.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Suhani Jewel Private Limited |
|
6500 |
|
Kaushik Enterprises Private Limited |
|
26100 |
|
Solartex (India) Private Limited |
|
13190 |
|
Rawalwasia Synthetics Private Limited |
|
8200 |
|
Sweta Agarwal |
|
10465 |
|
Archana Agarwal |
|
10590 |
|
Ravi Goenka |
|
10 |
|
Satyanarayan Goenka |
|
10 |
|
Sushila Devi Goenka |
|
10 |
|
Mamta Agarwal |
|
10308 |
|
Sumit Agarwal |
|
23207 |
|
Mukesh Kumar Agarwal |
|
10 |
|
Total |
|
108600 |
As on 21.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
49.71 |
|
Directors or relatives of Directors |
50.29 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Sizing Yarn and Texturized Yarn. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers and End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
05 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
L. P. Nahata and Company Chartered Accountants |
|
Address : |
424, Ajanta Shopping Centre, Ring Road, Surat – 395002, Gujarat, India |
|
Tel. No.: |
91-261-2326181 / 2338181 |
|
E-Mail : |
|
|
PAN No.: |
AANPN0582H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises owned or significantly influenced by key management
personnel or their relatives or with other : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
108600 |
Equity Shares |
Rs.100/-
each |
Rs.10.860
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 |
10.860 |
10.860 |
10.860 |
|
(b) Reserves &
Surplus |
23.273 |
23.115 |
22.916 |
|
(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) |
34.133 |
33.975 |
33.776 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
23.496 |
11.302 |
10.851 |
|
(b) Deferred tax
liabilities (Net) |
2.905 |
2.873 |
2.838 |
|
(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) |
26.401 |
14.175 |
13.689 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
110.184 |
32.941 |
31.088 |
|
(b) Trade payables |
69.241 |
4.728 |
11.504 |
|
(c) Other current
liabilities |
8.553 |
6.499 |
11.291 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
187.978 |
44.168 |
53.883 |
|
|
|
|
|
|
TOTAL |
248.512 |
92.318 |
101.348 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
25.366 |
26.242 |
23.742 |
|
(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 |
0.240 |
0.240 |
0.240 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.259 |
1.226 |
1.218 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
26.865 |
27.708 |
25.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
52.277 |
22.506 |
10.627 |
|
(c) Trade receivables |
144.383 |
36.195 |
54.733 |
|
(d) Cash and cash
equivalents |
10.267 |
0.402 |
0.740 |
|
(e) Short-term loans and
advances |
14.720 |
5.507 |
10.048 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
221.647 |
64.610 |
76.148 |
|
|
|
|
|
|
TOTAL |
248.512 |
92.318 |
101.348 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
542.888 |
220.782 |
283.443 |
|
|
Other Income |
0.386 |
1.068 |
5.001 |
|
|
TOTAL |
543.274 |
221.850 |
288.444 |
|
|
|
|
|
|
|
Less |
EXPENSES |
540.897 |
219.596 |
286.818 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2.377 |
2.254 |
1.626 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.104 |
1.977 |
1.404 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
0.273 |
0.277 |
0.222 |
|
|
|
|
|
|
|
Less |
TAX |
0.114 |
0.078 |
0.032 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.159 |
0.199 |
0.190 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
5.962 |
5.763 |
5.574 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
6.121 |
5.962 |
5.764 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.46 |
1.83 |
1.75 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.138 |
0.164 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.03 |
0.09 |
0.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.11 |
0.30 |
0.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.92 |
1.31 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.46 |
1.41 |
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 |
10.860 |
10.860 |
10.860 |
|
Reserves & Surplus |
22.916 |
23.115 |
23.273 |
|
Net worth |
33.776 |
33.975 |
34.133 |
|
|
|
|
|
|
long-term borrowings |
10.851 |
11.302 |
23.496 |
|
Short term borrowings |
31.088 |
32.941 |
110.184 |
|
Current Maturities of
Long Term Debt |
0.164 |
0.138 |
0.000 |
|
Total borrowings |
42.103 |
44.381 |
133.680 |
|
Debt/Equity ratio |
1.247 |
1.306 |
3.916 |
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 |
283.443 |
220.782 |
542.888 |
|
|
|
(22.107) |
145.893 |
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 |
283.443 |
220.782 |
542.888 |
|
Profit |
0.190 |
0.199 |
0.159 |
|
|
0.07% |
0.09% |
0.03% |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---------------------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
PERFORMANCE AND
PROSPECTS
During the year, the company has achieved turnover of Rs.542.888 Million
as against turnover of Rs.220.782 Million in previous year. However, the net profit
after tax has been reduced to Rs.0.159 Million during the year. It is due to
the efforts put in by the directors of the company towards efficient
management, providing better quality product, strong outlook that have resulted
into satisfactory performance of the company.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans from Shareholders |
6.102 |
0.122 |
|
Loans from Bodies Corporate |
17.393 |
11.180 |
|
Total |
23.495 |
11.302 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10497188 |
15/04/2014 |
100,000,000.00 |
Bank of Baroda |
Textile Market Branch,, Ring Road,, Surat, Gujarat - 395002, INDIA |
C05374186 |
|
2 |
90096871 |
29/10/2013 * |
120,000,000.00 |
Bank of Baroda |
Textile Market Branch,, Ring Road,, Surat, Gujarat - 395002, INDIA |
B88291455 |
|
3 |
90096720 |
24/03/2001 |
26,000,000.00 |
BANK OF BARODA |
KHATEDARA INDUSTRIAL ESTATE BRANCH, SURAT, Gujarat , INDIA |
- |
|
4 |
90096719 |
29/10/2013 * |
120,000,000.00 |
Bank of Baroda |
Textile Market Branch,, Ring Road,, Surat, Gujarat - 395002, INDIA |
B88310347 |
|
5 |
90099345 |
17/04/2002 * |
17,500,000.00 |
BANK OF BARODA |
KHATEDARA INDUSTRIAL ESTATE BRANCH, SURAT, Gujarat, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Computer
- Vehicles
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.62.34 |
|
|
1 |
Rs.92.64 |
|
Euro |
1 |
Rs.68.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.