MIRA INFORM REPORT
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Report No. : |
324670 |
|
Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
MANOHAR FILAMENTS PRIVATE LIMITED |
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Registered
Office : |
B- 59, G T Karnal Road, Industrial Area, New Delhi – 110033 |
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Tel. No.: |
91-11-47030300 |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2104 |
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Date of
Incorporation : |
08.09.1989 |
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Com. Reg. No.: |
55-037636 |
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Capital
Investment / Paid-up Capital : |
Rs.16.093 Million |
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CIN No.: [Company Identification
No.] |
U74899DL1989PTC037636 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELM08313E |
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PAN No.: [Permanent Account No.] |
AAACM1116E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Various Garment Accessories. |
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No. of Employees
: |
1500 (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 |
|
Maximum Credit Limit : |
USD 500000 |
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Status : |
Satisfactory |
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Payment Behavior : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings 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.
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
|
Name : |
Mr. D. C. Jain |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-11-47030300 |
|
Date : |
29.05.2015 |
LOCATIONS
|
Registered Office : |
B- 59, G T Karnal Road, Industrial Area, New Delhi – 110033, India |
|
Tel. No.: |
91-11-47030300 |
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Fax No.: |
91-11-47030300 / 47030333 / 27122092 |
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E-Mail : |
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Website : |
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Factory |
531-532, HSIDC Industrial Estate, Kundali, Sonepat, Haryana, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Bhupinder Kumar Jain |
|
Designation : |
Director |
|
Address : |
E-5, Phase-1, Ashok Vihar New Delhi – 110052, India |
|
Date of Birth/Age : |
27.12.1950 |
|
Date of Appointment : |
08.09.1989 |
|
DIN No.: |
00394122 |
|
PAN No.: |
AANPJ3468J |
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|
|
|
Name : |
Mr. Kamal Jain |
|
Designation : |
Director |
|
Address : |
E-5, Phase-1, Ashok Vihar New Delhi – 110052, India |
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Date of Birth/Age : |
12.02.1954 |
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Date of Appointment : |
15.04.1993 |
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DIN No.: |
00393877 |
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PAN No.: |
ABOPJ5817D |
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|
|
|
Name : |
Mr. Surinder Kumar Jain |
|
Designation : |
Director |
|
Address : |
E-5, Phase-1, Ashok Vihar New Delhi – 110052, India |
|
Date of Birth/Age : |
28.11.1953 |
|
Date of Appointment : |
15.04.1993 |
|
DIN No.: |
00394182 |
|
PAN No.: |
ACDPJ1045K |
KEY EXECUTIVES
|
Name : |
Mr. D. C. Jain |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
Shareholders Details File Attached
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
11.38 |
|
Directors or relatives of Directors |
88.56 |
|
Other top fifty shareholders |
0.06 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Various Garment Accessories. |
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Products : |
Not Available |
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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 : |
Machines |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Sunil K. Mittal and Company Chartered Accountants |
|
Address : |
8-D , Hansalaya Building,
Barakhambha Road, New Delhi 110001, India |
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Tel. No.: |
91-11-23358616 / 23358617 / 23716601 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAPJ1310J |
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Memberships : |
---- |
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Collaborators : |
---- |
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Sister Concerns : |
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CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs.
80.000 Million
Issued, Subscribed & Paid-up Capital : Rs.16.693 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1740666 |
Equity Shares |
Rs.10/- each |
Rs.17.406 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1590566 |
Equity Shares |
Rs.10/- each |
Rs.15.906 Million |
|
150000 |
Forfeited Shares |
Rs.1.25/-
each |
Rs.0.187
Million |
|
|
Total |
|
Rs.16.093 Million |
ABRIDGED
BALANCE SHEET
FINANCIAL DATA
[all figures are
in Rupees Million]
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
16.093 |
16.093 |
16.093 |
|
(b) Reserves & Surplus |
159.754 |
144.709 |
142.189 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
90.400 |
94.900 |
|
Total
Shareholders’ Funds (1) + (2) |
175.847 |
251.202 |
253.182 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
233.082 |
181.148 |
201.843 |
|
(b) Deferred tax liabilities (Net) |
6.286 |
7.264 |
5.635 |
|
(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) |
239.368 |
188.412 |
207.478 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
149.206 |
99.352 |
96.919 |
|
(b) Trade
payables |
86.586 |
71.904 |
76.011 |
|
(c) Other
current liabilities |
86.057 |
56.746 |
52.925 |
|
(d) Short-term
provisions |
8.688 |
4.320 |
3.623 |
|
Total Current
Liabilities (4) |
330.537 |
232.322 |
229.478 |
|
|
|
|
|
|
TOTAL |
745.752 |
671.936 |
690.138 |
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II.
ASSETS |
|
|
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|
(1)
Non-current assets |
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|
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(a) Fixed
Assets |
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|
|
|
(i)
Tangible assets |
394.561 |
336.604 |
373.053 |
|
(ii)
Intangible Assets |
2.005 |
1.564 |
0.893 |
|
(iii)
Capital work-in-progress |
7.879 |
18.132 |
19.181 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.030 |
0.030 |
0.030 |
|
(c) Deferred tax assets (net) |
6.555 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.302 |
5.423 |
2.655 |
|
(e) Other
Non-current assets |
0.000 |
30.267 |
14.034 |
|
Total Non-Current
Assets |
434.332 |
392.020 |
409.846 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
60.995 |
76.892 |
92.014 |
|
(c) Trade
receivables |
222.381 |
181.038 |
174.318 |
|
(d) Cash
and cash equivalents |
8.348 |
9.843 |
3.347 |
|
(e)
Short-term loans and advances |
17.526 |
10.872 |
10.018 |
|
(f) Other
current assets |
2.170 |
1.271 |
0.595 |
|
Total
Current Assets |
311.420 |
279.916 |
280.292 |
|
|
|
|
|
|
TOTAL |
745.752 |
671.936 |
690.138 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
784.756 |
615.466 |
|
|
|
Other Income |
|
5.505 |
8.713 |
|
|
|
TOTAL |
1054.573 |
790.261 |
624.179 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
428.497 |
346.944 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
955.556 (Including Financial Expenses) |
8.478 |
7.127 |
|
|
|
Employees benefits expense |
105.984 |
83.081 |
|
|
|
|
Other expenses |
129.808 |
85.883 |
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|
|
|
TOTAL |
672.767 |
523.035 |
|
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||
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
117.494 |
101.144 |
||
|
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|
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||
|
Less |
FINANCIAL
EXPENSES |
44.077 |
36.870 |
||
|
|
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|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
99.017 |
73.417 |
64.274 |
|
|
|
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|
|
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|
Less |
DEPRECIATION/
AMORTISATION |
75.619 |
69.404 |
61.020 |
|
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|
|
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|
|
|
PROFIT BEFORE
TAX |
23.398 |
4.013 |
3.254 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.353 |
1.494 |
1.340 |
|
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|
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|
PROFIT AFTER TAX
|
15.045 |
2.519 |
1.914 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.46 |
1.58 |
1.20 |
|
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 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
1250.000 |
Expected Sales (2015-16) : Rs. 1400.000 Million
The above information has been parted by Mr. D.C. Jain (Chief Executive
Jain)
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
1.43 |
0.32 |
0.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.39 |
14.97 |
16.43 |
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.20 |
0.61 |
0.49 |
|
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|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.02 |
0.01 |
|
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|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.17 |
1.12 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94 |
1.20 |
1.22 |
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 |
16.093 |
16.093 |
16.093 |
|
Reserves & Surplus |
142.189 |
144.709 |
159.754 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
94.900 |
90.400 |
0.000 |
|
Net worth |
253.182 |
251.202 |
175.847 |
|
|
|
|
|
|
long-term borrowings |
201.843 |
181.148 |
233.082 |
|
Short term borrowings |
96.919 |
99.352 |
149.206 |
|
Total borrowings |
298.762 |
280.500 |
382.288 |
|
Debt/Equity ratio |
1.180 |
1.117 |
2.174 |
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 |
615.466 |
784.757 |
1054.573 |
|
|
|
27.506 |
34.382 |
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 |
615.466 |
784.757 |
1054.573 |
|
Profit |
1.914 |
2.521 |
15.044 |
|
|
0.31% |
0.32% |
1.43% |
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 |
Yes |
|
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 |
Yes |
|
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 |
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 |
WORKING OF THE
COMPANY:-
The company has earned a net profit of Rs. 23.398 Million as compared to a profit of Rs. 4.013 Million in the previous year. The company achieved Net sales of Rs. 1048.798 Million against Rs 784.756 Million in the previous year. This shows an increase in turnover by 33.65 %.The Industries are facing global recession and there was liquidity crunch in the market, in spite of the above facts the company has been able to manage the increase in turnover and earnings. More than 90% of company’s product are directly exported or sold to exporters and recession in USA & Europe has adversely affected the performance of the company and the Company has planned to shift dying capacity at 532 Barhi unit and Planned the Construction of additional building at 531 and 532 barhi unit and procurement of some balancing machines and equipment at 142-143 and 531 by investing Rs. 60.000 Million in the current year
UNSECURED LOAN
|
|
|
|
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term Loan From Bank |
145.030 |
84.596 |
|
Total |
145.030 |
84.596 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10356618 |
11/04/2012 |
2500000 |
PUNJAB NATIONAL BANK |
Kundli, Sonepat, Haryana - 131001, INDIA |
B39948351 |
|
2 |
10353021 |
06/03/2014 |
366800000 |
ING VYSYA BANK LIMITED |
ARIAN MANZIL GROUND FLOOR, SHOP NO. G1 TO G5, I FLOOR,SHOP NO.1001 TO 1007,BARAKHAMBA ROAD, Delhi - 110001, INDIA |
C37660891 |
FIXED ASSETS
- Land and Building
- Plant and Machinery
- Fire Extinguisher
- Weighing Machine
- Furnitures and
Fixtures
- Office Equipments
- Computers
- Electrical
Installation
- C.C.T.V.
- Vehicles
- Air Conditioners
- Telephone and Telex
- Water Tank
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 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.64.17 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
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 |
|
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
unfavorable 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.