MIRA INFORM REPORT
|
Report No. : |
328269 |
|
Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ENKAY
TECHNOLOGIES (INDIA) PRIVATE LIMITED (W.E.F. 21.01.2003) |
|
|
|
|
Formerly Known
As : |
ENKAY TELECOMMUNICATIONS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
7, Bhima Vaitarna Complex, Sir Pochkhandwala Road, Worli, Mumbai – 400
030, Maharashtra |
|
Tel. No.: |
91-22-66262222/ 24939835/ 24962705 / 66262225 |
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|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
|
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|
|
Date of
Incorporation : |
29.04.1987 |
|
|
|
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Com. Reg. No.: |
11-043304 |
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|
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|
Capital
Investment / Paid-up Capital : |
Rs.9.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32200MH1987PTC043304 |
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|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AAACE1300N |
|
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|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Subject is engaged in the business of service provider of
telecommunication and IT solutions services. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year 1987.
It is engaged in the business of service provider of telecommunication and IT
solutions services. It has a satisfactory track record. For the financial year 2014, the company has an average profitability
margin but it has good sales volume. Further, the company has fine financial base marked by decent net
worth along with low borrowings and favourable gap between trade receivables
to its payables. Trade relations are reported as fair. Business is active. Payment
terms are usually correct. In view long operating history and acceptable financial base, the
company can be considered for business dealing 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.
EXTERNAL AGENCY RATING
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 DENIED BY
|
Name : |
Mr. Vinod |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-66262225 |
|
Date : |
22.06.2015 |
LOCATIONS
|
Registered Office : |
7, Bhima Vaitarna Complex, Sir Pochkhandwala Road, Worli, Mumbai – 400
030, Maharashtra |
|
Tel. No.: |
91-22-66262222/ 24939835/ 24962705 / 66262225 |
|
Fax No.: |
91-22-24942127 |
|
E-Mail : |
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|
Website : |
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|
Branch Office : |
Located at:
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DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Dayal Mahirwan Hemrajani |
|
Designation : |
Managing Director |
|
Address : |
81, Ashraya Building 266, Walkeshwar Road, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1958 |
|
Date of Appointment : |
29.04.1987 |
|
DIN No.: |
00323558 |
|
|
|
|
Name : |
Mr. Vasudev Mahirwan Hemrajani |
|
Designation : |
Director |
|
Address : |
81 Ashraya, 266 Walkeshwar Road, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1962 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01001872 |
|
|
|
|
Name : |
Prerna Vasudev Hemrajani |
|
Designation : |
Additional Director |
|
Address : |
81, Ashraya, 266, Walkeshwar Road, Walkeshwar, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
05.03.2015 |
|
DIN No.: |
07102444 |
|
|
|
|
Name : |
Vibha Dayal Hemarajni |
|
Designation : |
Additional Director |
|
Address : |
81, Ashraya, 266, Walkeshwar Road, Walkeshwar, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
05.03.2015 |
|
DIN No.: |
07102893 |
|
|
|
|
Name : |
Pushpa Mahirwan Hemrajani |
|
Designation : |
Additional Director |
|
Address : |
81, Ashraya, 266, Walkeshwar Road, Walkeshwar, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
05.03.2015 |
|
DIN No.: |
07110488 |
KEY EXECUTIVES
|
Name : |
Mr. Vinod |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Dayal Mahirwan Hemrajani |
600 |
0.67 |
|
Pushpa M. Hemrajani |
200 |
0.22 |
|
Vibha D. Hemrajani |
200 |
0.22 |
|
Vasudev M. Hemrajani |
200 |
0.22 |
|
Dayal M. Hemrajani j/w Vibha D. Hemrajani |
28950 |
32.17 |
|
Mahirwan C. Hemrajani j/w Pushpa M. Hemrajani |
600 |
0.67 |
|
Pushpa M. Hemrajani j/w Mahirwan C. Hemrajani |
8450 |
9.39 |
|
Vibha D. Hemrajani j/w Dayal M. Hemrajani |
26750 |
29.72 |
|
Vasudev M. Hemrajani j/w Prerna V. Hemrajani |
4000 |
4.44 |
|
Prerna V. Hemrajani j/w Vasudev M. Hemrajani |
4050 |
4.50 |
|
Mahirwan Hemrajani HUF (Represented by Mahirwan Hemrajani) |
4000 |
4.44 |
|
Akshay V. Hemrajani j/w Vasudev M. Hemrajani |
4000 |
4.44 |
|
Dayal M. Hemrajani HUF (Represented by Dayal |
4000 |
4.44 |
|
Vasudev M. Hemrajani HUF (Represented by Vasudev M. Hemrajani) |
4000 |
4.44 |
|
Total
|
90000 |
100.00 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20328269_MIRA%2023-Jun-2015_files/image015.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of service provider of
telecommunication and IT solutions services. |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Information declined by the management. |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Sanghvi Sanghvi and Sanghvi Chartered Accountants |
|
Address : |
10, La Citadlle, 2nd Floor, 99, |
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Tel. No.: |
91-22-66333400 |
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PAN No.: |
AACFS2693D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000 |
Equity Shares |
Rs.100/-
each |
Rs.9.000
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 |
9.000 |
9.000 |
9.000 |
|
(b) Reserves &
Surplus |
79.903 |
77.656 |
76.240 |
|
(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) |
88.903 |
86.656 |
85.240 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.484 |
0.484 |
0.484 |
|
(d) long-term provisions |
4.358 |
4.449 |
3.390 |
|
Total Non-current
Liabilities (3) |
4.842 |
4.933 |
3.874 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
41.564 |
15.238 |
0.083 |
|
(b) Trade payables |
73.801 |
50.106 |
40.812 |
|
(c) Other current
liabilities |
34.536 |
37.638 |
41.577 |
|
(d) Short-term provisions |
0.652 |
0.696 |
0.572 |
|
Total Current Liabilities
(4) |
150.553 |
103.678 |
83.044 |
|
|
|
|
|
|
TOTAL |
244.298 |
195.267 |
172.158 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8.508 |
10.139 |
10.495 |
|
(ii) Intangible Assets |
1.457 |
0.275 |
0.150 |
|
(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 |
0.005 |
0.005 |
0.005 |
|
(c) Deferred tax assets
(net) |
2.968 |
3.031 |
1.541 |
|
(d) Long-term Loan and Advances |
0.264 |
0.329 |
0.254 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
13.202 |
13.779 |
12.445 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
75.656 |
69.814 |
62.099 |
|
(c) Trade receivables |
129.961 |
85.772 |
67.849 |
|
(d) Cash and cash
equivalents |
6.868 |
10.231 |
15.446 |
|
(e) Short-term loans and
advances |
18.611 |
15.671 |
14.319 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
231.096 |
181.488 |
159.713 |
|
|
|
|
|
|
TOTAL |
244.298 |
195.267 |
172.158 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
344.510 |
340.853 |
320.963 |
|
|
Other Income |
|
|
|
|
|
TOTAL |
344.510 |
340.853 |
320.963 |
|
|
|
|
|
|
|
Less |
EXPENSES |
341.645 |
338.802 |
315.231 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(Including Depreciation) |
(Including Depreciation) |
5.732 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
2.819 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2.865 |
2.051 |
2.913 |
|
|
|
|
|
|
|
Less |
TAX |
0.618 |
0.636 |
1.216 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
2.247 |
1.415 |
1.697 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
24.96 |
15.72 |
18.85 |
%20PRIVATE%20LIMITED%20-%20328269_MIRA%2023-Jun-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20328269_MIRA%2023-Jun-2015_files/image004.gif){kind=small}
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 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.65 |
0.42 |
0.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.19 |
1.07 |
1.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.02 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.47 |
0.18 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53 |
1.75 |
1.92 |
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 |
9.000 |
9.000 |
9.000 |
|
Reserves & Surplus |
76.240 |
77.656 |
79.903 |
|
Net worth |
85.240 |
86.656 |
88.903 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.083 |
15.238 |
41.564 |
|
Total borrowings |
0.083 |
15.238 |
41.564 |
|
Debt/Equity ratio |
0.001 |
0.176 |
0.468 |
%20PRIVATE%20LIMITED%20-%20328269_MIRA%2023-Jun-2015_files/image017.gif)
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 |
320.963 |
340.853 |
344.510 |
|
|
|
6.197 |
1.073 |
%20PRIVATE%20LIMITED%20-%20328269_MIRA%2023-Jun-2015_files/image019.gif)
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 |
320.963 |
340.853 |
344.510 |
|
Profit |
1.697 |
1.415 |
2.247 |
|
|
0.53% |
0.42% |
0.65% |
%20PRIVATE%20LIMITED%20-%20328269_MIRA%2023-Jun-2015_files/image021.gif)
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 |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and Advances from related parties |
8.383 |
0.083 |
|
Total |
8.383 |
0.083 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10088377 |
19/05/2015 * |
85,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, Maharashtra, INDIA |
C54021712 |
* Date of charge modification
FIXED ASSETS
- Building
- Plant and Machinery
- Office Equipment’s
- Furniture and Fixtures
- 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.63.50 |
|
|
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.72.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--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 |
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 |
|
43 |
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.