MIRA INFORM REPORT
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Report No. : |
326911 |
|
Report Date : |
16.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
LUXOR WRITING INSTRUMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5 , Okhla Industrial Estate , Phase-III , Delhi - 110020 |
|
Tel. No.: |
91-11-41613540 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.11.1995 |
|
|
|
|
Com. Reg. No.: |
55-073683 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 24.688 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC073683 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELL02132E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1980D |
|
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
The company is primarily engaged in the business of
manufacturing of writing instruments. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2800000 |
|
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|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track record. It was incorporated in 1995. The company manufactures writing instruments including ball, fountain, roller and gel pen; highlighter, marker, colorings material etc. Subject is a part of LUXOR GROUP. Luxor Group today is a diversified group having business interests in different areas viz writing Instruments and stationery products, Real Estate, Hospitality, Fiber Optics, Nano Technology, Tablets & digital Office Products. As per Registrar of Companies the date of balance sheet i.e. financials filed is shown as 31st March, 2014 but the documents related to the financials for the year 2014 is not available from any source. As per the financials of 2013, general financial position of the company seems to be decent. Rating takes into consideration above average financial risk profile marked by fair liquidity position and acceptable net profit margin. Company has strong managerial and financial support from group. Subject has brought world-famous brands like Parker, Pilot, and Waterman under the Group’s umbrella to serve the Indian consumer market. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In the view of Luxor Groups established brand presence in the written instruments industry, the subject 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 |
CRISIL |
|
Rating |
Long term rating = “BBB+” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
24.12.2014 |
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 DENIED
Management Non-Cooperative (91-120-4899100)
LOCATIONS
|
Registered Office : |
5 , Okhla Industrial Estate , Phase-III , Delhi – 110020, India |
|
Tel. No.: |
91-11-41613540/41613541/26827214/26846106 |
|
Fax No.: |
91-11-26821214 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2014
|
Name : |
Ms. Pooja Jain |
|
Designation : |
Whole Time Director |
|
Address : |
D – 19, Nizamuddin East, New Delhi – 110013, India |
|
Date of Birth/Age : |
22.10.1974 |
|
Date of Appointment : |
08.11.1995 |
|
DIN No.: |
00055375 |
|
|
|
|
Name : |
Mr. Vijay Kumar Jain |
|
Designation : |
Additional Director |
|
Address : |
B-167, SFS DDA Flats, Sarita Vihar, Mathura Road, New Delhi – 110 044,
India |
|
Date of Birth/Age : |
05.06.1936 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
00055376 |
|
|
|
|
Name : |
Mr. Pankaj Jain |
|
Designation : |
Director |
|
Address : |
D – 19, Nizamuddin East, New Delhi – 110 013, India |
|
Date of Birth/Age : |
13.04.1971 |
|
Date of Appointment : |
15.03.1996 |
|
DIN No.: |
00055373 |
|
|
|
|
Name : |
Usha Jain |
|
Designation : |
Director |
|
Address : |
D – 19, Nizamuddin East, New Delhi – 110 013, India |
|
Date of Birth/Age : |
19.06.1943 |
|
Date of Appointment : |
19.03.2014 |
|
DIN No.: |
00055376 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Usha Jain |
1599750 |
64.80 |
|
Pooja Jain |
108625 |
4.40 |
|
JHPL Holdings Private Limited, India |
641875 |
26.00 |
|
Payal Kapoor |
59250 |
2.40 |
|
Priya Jain |
59250 |
2.40 |
|
|
|
|
|
Total |
2468750 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
26.00 |
|
Directors or relatives of Directors |
74.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is primarily engaged in the business of
manufacturing of writing instruments. |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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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 : |
Not Divulged |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
S. Kalra and
Associates Chartered Accountants |
|
Address : |
24, Manak Vihar, I.P. Extension, Part – II, New Delhi – 110 092, India
|
|
Tel. No.: |
91-11-22151632 |
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Fax No.: |
91-11-22142850 |
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E-Mail : |
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PAN No.: |
AATPK1847J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary Companies : |
CIN No. U36991DL1996PTC076707 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,468,750 |
Equity Shares |
Rs.10/- each |
Rs. 24.688
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
24.688 |
24.688 |
24.688 |
|
(b) Reserves & Surplus |
948.297 |
917.254 |
910.238 |
|
(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) |
972.985 |
941.942 |
934.926 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
470.257 |
396.352 |
328.462 |
|
(b) Deferred tax liabilities (Net) |
6.539 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
25.461 |
21.280 |
18.467 |
|
(d) long-term
provisions |
10.188 |
8.287 |
6.036 |
|
Total Non-current
Liabilities (3) |
512.445 |
425.919 |
352.965 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
379.123 |
312.040 |
204.623 |
|
(b) Trade
payables |
335.063 |
242.585 |
177.924 |
|
(c) Other
current liabilities |
39.146 |
50.954 |
26.241 |
|
(d) Short-term
provisions |
20.321 |
7.206 |
0.000 |
|
Total Current
Liabilities (4) |
773.653 |
612.785 |
408.788 |
|
|
|
|
|
|
TOTAL |
2,259.083 |
1,980.646 |
1,696.679 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
739.108 |
701.886 |
540.074 |
|
(ii)
Intangible Assets |
209.471 |
214.147 |
200.844 |
|
(iii)
Capital work-in-progress |
457.923 |
200.236 |
97.618 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.010 |
16.261 |
16.261 |
|
(c) Deferred tax assets (net) |
0.000 |
14.255 |
67.880 |
|
(d) Long-term Loan and Advances |
32.591 |
22.685 |
111.736 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1,444.103 |
1,169.470 |
1,034.413 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
527.390 |
409.087 |
392.690 |
|
(c) Trade
receivables |
198.379 |
288.525 |
192.202 |
|
(d) Cash
and cash equivalents |
20.260 |
42.673 |
10.652 |
|
(e)
Short-term loans and advances |
68.951 |
70.891 |
66.722 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
814.980 |
811.176 |
662.266 |
|
|
|
|
|
|
TOTAL |
2,259.083 |
1,980.646 |
1,696.679 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Income |
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Other Income |
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TOTAL |
1972.483 |
1867.161 |
1612.440 |
|
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|
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||
|
Less |
EXPENSES |
1907.532 |
1799.313 |
1572.397 |
||
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|
|
PROFIT/(LOSS)
BEFORE TAX |
64.951 |
67.848 |
40.043 |
||
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|
Less |
TAX |
33.909 |
60.832 |
31.047 |
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|
PROFIT/(LOSS)
AFTER TAX |
31.042 |
7.016 |
8.996 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(658.444) |
(665.460) |
(674.456) |
||
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||
|
|
BALANCE CARRIED
TO THE B/S |
(627.402) |
(658.444) |
(665.460) |
||
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|
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||
|
|
EARNING IN
FOREIGN CURRENCY |
30.702 |
20.594 |
0.000 |
||
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IMPORTS |
|
|
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||
|
|
|
Raw Materials, Components & Finished
Goods |
NA |
196.001 |
245.594 |
|
|
|
|
Capital Goods |
NA |
18.230 |
19.378 |
|
|
|
TOTAL IMPORTS |
NA |
214.231 |
264.972 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
12.57 |
2.84 |
3.64 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / total Income) |
(%) |
1.57 |
0.38 |
0.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.62 |
3.88 |
2.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.07 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.87 |
0.75 |
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.32 |
1.62 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
24.688 |
24.688 |
24.688 |
|
Reserves & Surplus |
910.238 |
917.254 |
948.297 |
|
Net
worth |
934.926 |
941.942 |
972.985 |
|
|
|
|
|
|
long-term borrowings |
328.462 |
396.352 |
470.257 |
|
Short term borrowings |
204.623 |
312.040 |
379.123 |
|
Total
borrowings |
533.085 |
708.392 |
849.380 |
|
Debt/Equity
ratio |
0.570 |
0.752 |
0.873 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
1,612.440 |
1,867.161 |
1,972.483 |
|
|
|
15.797 |
5.641 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
1,612.440 |
1,867.161 |
1,972.483 |
|
Profit |
8.996 |
7.016 |
31.042 |
|
|
0.56% |
0.38% |
1.57% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Million |
31.03.2012 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Intercorporate
borrowings |
154.000 |
104.000 |
|
Loans and
advances from related parties |
26.750 |
61.000 |
|
Total |
180.750 |
165.000 |
COMPANY PROFILE
Subject is a private limited company, registered under the Companies Act, 1956. It was incorporated on 8th November 1995 and has its registered office at #5, Okhla Industrial Estate, New Delhi. The company is primarily engaged in the business of manufacturing of writing instruments. It also manufactures allied machines relating to writing instruments. It has works/ plants in Delhi, Haryana and Uttrakhand and the sales network scattered across the country.
OPERATIONS
During the year (2012-13) the Company has performed very well as the sales and other incomes have gone up to Rs.1972.483 Million, as against previous year’s sales Rs.1867.161 Million. The Profit before tax for the year (2012-13) was Rs.64.951 Million. The Net loss of the Company for the year (2012-13) was Rs.(593.493 Million) after providing Depreciation and Taxes as Compared to Net Loss Rs.(597.612 Million) of Previous Year (2011-12)
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10438145 |
23/07/2013 |
450,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
7th Floor, Ambadeep Building, K G Marg, New Delhi, Delhi -110001, INDIA |
B80167018 |
|
2 |
10264914 |
22/03/2014 * |
782,200,000.00 |
KOTAK MAHINDRA BANK LIMITED |
7th Floor, Ambadeep Building, K G Marg, New Delhi, Delhi - 110001, INDIA |
C01215011 |
|
3 |
90047374 |
11/01/1999 |
101,000,000.00 |
A N Z GRINALAYS BANK |
H Block Conn Curcus, Delhi, Delhi, India |
- |
|
4 |
90046610 |
28/04/1998 * |
37,400,000.00 |
ANI GRINDLAYS BANK LTD |
Connaught Circus, New Delhi, Delhi, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.64.09 |
|
|
1 |
Rs.99.57 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
ART |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
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 |
|
50 |
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.