MIRA INFORM REPORT
|
Report No. : |
324628 |
|
Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ISHITA DRUGS AND INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Survey No.179/1, Vasna – Iyava, Taluka Sanand, Ahmedabad – 382210,
Gujarat |
|
Tel. No.: |
91-79-26467886 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 (Profit and Loss Account) |
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|
|
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Date of
Incorporation : |
05.02.1992 |
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|
|
|
Com. Reg. No.: |
04-017054 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.29.903 Million (As on 31.03.2014) |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24231GJ1992PLC017054 |
|
|
|
|
IEC No.: |
0894000314 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMI00085B |
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|
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PAN No.: [Permanent Account No.] |
AAACI3630B |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing, Exporting and Importing of Bulk Drug. |
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|
|
|
No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There seems some dip in the company turnover and profit of the company
during FY 2014. Reserves of the company is also low. 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.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Purvi |
|
Designation : |
Finance Department |
|
Contact No.: |
91-9228016101 |
|
Date : |
28.05.2015 |
LOCATIONS
|
Registered Office / Factory: |
Survey No.179/1, Vasna – Iyava, Sarkhej Viramgam Highway, Taluka
Sanand, Ahmedabad – 382210, Gujarat, India |
|
Tel. No.: |
91-79-26467886 / 2717-284244 / 284246 |
|
Fax No.: |
91-79-26404961 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
401, 3 EYE -II, Opposite Parimal Garden, C.G. Road,
Ahmedabad - 380 006, Gujarat, India |
|
|
|
|
Plant Location : |
179/1, Vasana – Iyava, Sarkhej Viramgam Highway, Taluka: Sanand,
District – Ahmadabad, Gujarat, India |
|
Tel. No.: |
91-2717-284244/ 284246 |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Jagdishprasad Gokulchand Agrawal |
|
Designation : |
Managing Director |
|
Address : |
Kanchanjangha, 18/1, Mahalaxmi Society, Paldi, Ahmedabad – 380007,
Gujarat, India |
|
Date of Birth/Age : |
10.10.1947 |
|
Date of Appointment : |
05.02.1992 |
|
PAN No. : |
ABRPA0505E |
|
DIN No.: |
01031687 |
|
|
|
|
Name : |
Mrs. Abha Jagdishprasad Agrawal |
|
Designation : |
Director |
|
Address : |
Kanchanjangha, 18/1, Mahalaxmi Society, Paldi, Ahmedabad – 380007,
Gujarat, India |
|
Date of Birth/Age : |
12.02.1951 |
|
Date of Appointment : |
05.02.1992 |
|
DIN No.: |
01589479 |
|
|
|
|
Name : |
Dr. S. K. Agrawal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Prakash Ranjan Rastogi |
|
Designation : |
Director |
|
Address : |
2, Blooming Heights, 1st Floor, Pali Hill Road, Bandra (West),
Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1944 |
|
Date of Appointment : |
30.09.2006 |
|
DIN No.: |
00110862 |
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|
|
|
Name : |
Mr. Govind Gupta |
|
Designation : |
Director |
|
Address : |
23, Amra Shagan Near Ramdevnagar Char Rasta, Ahmedabad – 380054,
Gujarat, India |
|
Date of Birth/Age : |
02.12.1947 |
|
Date of Appointment : |
20.05.1992 |
|
DIN No.: |
00052690 |
|
|
|
|
Name : |
Mr. Niranjan Agarwal |
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Designation : |
Director |
|
Address : |
B-1002, Rosewood Estate, Opposite Prerna Tirth Bunglow-1, Satellite
Road, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
04.02.1946 |
|
Date of Appointment : |
25.01.2013 |
|
DIN No.: |
06503361 |
KEY EXECUTIVES
|
Name : |
Ms. Purvi |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of Shareholder |
Total No. of
Shares |
% of total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
979581 |
32.76 |
|
|
427300 |
14.29 |
|
|
1406881 |
47.05 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1406881 |
47.05 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
117024 |
3.91 |
|
|
|
|
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|
1183274 |
39.57 |
|
|
279067 |
9.33 |
|
|
4054 |
0.14 |
|
|
4054 |
0.14 |
|
|
1583419 |
52.95 |
|
Total Public shareholding (B) |
1583419 |
52.95 |
|
Total (A)+(B) |
2990300 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
2990300 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Exporting and Importing of Bulk Drug. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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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 : |
45 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
Kishor and Goyal Company Chartered Accountants |
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Address : |
305, |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AANPG3497L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Relatives of Key
Management Personnel: |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2990300 |
Equity Shares |
Rs.10/- each |
Rs.29.903 Million |
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|
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
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|
(1)Shareholders' Funds |
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|
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|
(a) Share Capital |
|
29.903 |
29.903 |
|
(b) Reserves & Surplus |
|
22.830 |
20.788 |
|
(c) Money received against share
warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
52.733 |
50.691 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.945 |
1.114 |
|
(b) Deferred tax liabilities
(Net) |
|
0.898 |
0.874 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
1.843 |
1.988 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
9.244 |
24.632 |
|
(c) Other current liabilities |
|
1.015 |
1.060 |
|
(d) Short-term provisions |
|
1.257 |
1.462 |
|
Total
Current Liabilities (4) |
|
11.516 |
27.154 |
|
|
|
|
|
|
TOTAL |
|
66.092 |
79.833 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
13.569 |
11.719 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.337 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.537 |
1.537 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.493 |
0.493 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
15.599 |
14.086 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
12.957 |
10.600 |
|
(b) Inventories |
|
9.655 |
12.931 |
|
(c) Trade receivables |
|
10.536 |
28.345 |
|
(d) Cash and cash equivalents |
|
14.366 |
11.175 |
|
(e) Short-term loans and
advances |
|
2.837 |
2.558 |
|
(f) Other current assets |
|
0.142 |
0.138 |
|
Total
Current Assets |
|
50.493 |
65.747 |
|
|
|
|
|
|
TOTAL |
|
66.092 |
79.833 |
NOTE: Balance Sheet for the current year 2015 is not
available only Profit and Loss Statement is available.
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
75.478 |
73.360 |
117.634 |
|
|
Other Income |
1.614 |
0.259 |
1.929 |
|
|
TOTAL
(A) |
77.092 |
73.619 |
119.563 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
46.707 |
37.131 |
73.914 |
|
|
Purchases of Stock-in-Trade |
6.118 |
9.580 |
13.480 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.509) |
1.780 |
(0.534) |
|
|
Employees benefits expense |
6.627 |
6.135 |
4.997 |
|
|
Other expenses |
13.319 |
14.477 |
20.370 |
|
|
TOTAL
(B) |
72.262 |
69.103 |
112.227 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
4.830 |
4.516 |
7.336 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.420 |
0.311 |
0.290 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.410 |
4.205 |
7.046 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1.527 |
1.159 |
0.925 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
2.883 |
3.046 |
6.121 |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.667 |
1.004 |
1.941 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX (G-H) (I) |
2.216 |
2.042 |
4.180 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
11.967 |
23.314 |
|
|
TOTAL
EARNINGS |
NA |
11.967 |
23.314 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
1.712 |
0.525 |
|
|
TOTAL
IMPORTS |
NA |
1.712 |
0.525 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.74 |
0.68 |
1.40 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
0.924 |
0.759 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.94 |
2.78 |
3.55 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.40 |
6.16 |
6.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
4.72 |
7.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.06 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
NA |
0.04 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
4.38 |
2.42 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
Market Value |
Rs.16/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
117.634 |
73.360 |
75.478 |
|
|
|
(37.637) |
2.887 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
117.634 |
73.360 |
75.478 |
|
Profit |
4.180 |
2.042 |
2.216 |
|
|
3.55% |
2.78% |
2.94% |
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 |
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 |
Yes |
|
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 |
10061029 |
10/05/2007 |
17,500,000.00 |
CORPORATION BANK |
NEAR HEAD POST OFFICE,, NAVRANGPURA,, AHMEDABAD, |
A16166993 |
FIXED ASSETS
- Factory Land
- Plant and Machinery
- Laboratory Equipment
- Cylinders
- Effluent Treatment Plant
- Factory Building
- Office Building
- Furniture and Fixtures
- Office Equipment
- Computers
- Vehicles
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.64.18 |
|
UK Pound |
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.