MIRA INFORM REPORT
|
Report No. : |
329097 |
|
Report Date : |
30.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CMC METALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shop No. 01, 54, Kika Street, Gulalwadi, Mumbai – 400004, Maharashtra |
|
Tel. No.: |
91-22-22424940 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.06.2012 |
|
|
|
|
Com. Reg. No.: |
232119 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52100MH2012PTC232119 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of seamless and welded pipes, silver alloys, mercury. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Even though the company was incorporated on 13th June 2012,
it has commenced its business operations from financial year 2013-14. It is
having moderate track. Mr. Hitendra Shah, Director has provided information to us. As per the available financial of 2014, the rating is constrained on
account of company’s short track record of business operations and low
reserves of the company. However, company has achieved decent sales turnover in its first year
of business operations. Trade relations are improving. Business is active. Payment terms are
slow but correct. In view of limited history of business operation, 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
|
Name : |
Mr. Hitendra Chunilal Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9969362943 |
|
Date : |
30.06.2015 |
LOCATIONS
|
Registered Office / Factory : |
Shop No. 01, 54, Kika Street, Gulalwadi, Mumbai – 400004, Maharashtra,
India |
|
Tel. No.: |
91-22-22424940 |
|
Mobile No.: |
91- 9969362943 (Mr.
Hitendra Shah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Vijay Chunilal Shah |
|
Designation : |
Director |
|
Address : |
G-32, Sarvodaya Nagar, 1st Panjara Pole Lane, Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
05.01.1966 |
|
Date of Appointment : |
13.06.2012 |
|
DIN No.: |
05270943 |
|
|
|
|
Name : |
Hitendra Chunilal Shah |
|
Designation : |
Director |
|
Address : |
G-32, Sarvodaya Nagar, 1st Panjara Pole Lane, Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1970 |
|
Date of Appointment : |
13.06.2012 |
|
DIN No.: |
05270954 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Vijay
Chunilal Shah |
25,000 |
25.00 |
|
Hitendra
Chunilal Shah |
25,000 |
25.00 |
|
Ujamben
Chunilal Shah |
20,000 |
20.00 |
|
Preeti
Hitendra Shah |
15,000 |
15.00 |
|
Rajkumari Vijay Shah |
15,000 |
15.00 |
|
|
|
|
|
Total |
100,000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of seamless and welded pipes, silver alloys, mercury. |
|
|
|
|
Products : |
Seamless and welded pipes, silver alloys, mercury |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
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Agencies Held : |
Not Divulged |
|
|
|
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Exports : |
Not Divulged |
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|
|
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Vietnam |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
10 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Vinod Sharma and Company Chartered Accountants |
|
Address : |
2, Nand Deep, Sada Nand Park, MHB Colony, Borivali (West), Mumbai –
400091, Maharashtra |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
BANPS1763A |
|
Auditors : |
|
|
|
|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
FINANCIAL DATA
[all figures are in
Rupees Million]
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
50.000 |
Expected Sales ( 2015-2016 ) : Rs.80.000 Million
The above information has been parted by Mr. Hitendra Chunilal
Shah
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
13.06.2012 to 31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1.000 |
0.500 |
|
(b) Reserves &
Surplus |
|
0.654 |
(0.062) |
|
(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) |
|
1.654 |
0.438 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
6.887 |
0.051 |
|
(b) Trade payables |
|
6.542 |
0.460 |
|
(c) Other current
liabilities |
|
0.257 |
0.000 |
|
(d) Short-term provisions |
|
0.301 |
0.000 |
|
Total Current Liabilities
(4) |
|
13.987 |
0.511 |
|
|
|
|
|
|
TOTAL |
|
15.641 |
0.949 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.000 |
0.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
4.643 |
0.414 |
|
(c) Trade receivables |
|
7.912 |
0.000 |
|
(d) Cash and cash
equivalents |
|
1.070 |
0.484 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
2.016 |
0.051 |
|
Total Current Assets |
|
15.641 |
0.949 |
|
|
|
|
|
|
TOTAL |
|
15.641 |
0.949 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
13.06.2012 to 31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
48.886 |
0.000 |
|
|
Other Income |
|
0.031 |
0.000 |
|
|
TOTAL (A) |
|
48.917 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
48.312 |
0.414 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(4.229) |
(0.414) |
|
|
Employees benefits
expense |
|
2.115 |
0.000 |
|
|
Other expenses |
|
1.198 |
0.062 |
|
|
TOTAL (B) |
|
47.396 |
0.062 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
|
1.521 |
(0.062) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
0.504 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1.017 |
(0.062) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
(F) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
|
1.017 |
(0.062) |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.301 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
|
0.716 |
(0.062) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
|
0.008 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
12.746 |
0.000 |
|
|
TOTAL IMPORTS |
|
12.746 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
7.16 |
(0.62) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
13.06.2012 to 31.03.2013 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
13.06.2012 to 31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
1.46 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
3.11 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.50 |
(6.53) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.61 |
(0.14) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
4.16 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.12 |
1.86 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
|
0.500 |
1.000 |
|
Reserves & Surplus |
|
(0.062) |
0.654 |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net worth |
|
0.438 |
1.654 |
|
|
|
|
|
|
long-term borrowings |
|
0.000 |
0.000 |
|
Short term borrowings |
|
0.051 |
6.887 |
|
Total borrowings |
|
0.051 |
6.887 |
|
Debt/Equity ratio |
|
0.116 |
4.164 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
|
0.000 |
48.886 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
|
0.000 |
48.886 |
|
Profit/Loss |
|
(0.062) |
0.716 |
|
|
|
1.46% |
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 |
No |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
No |
|
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 |
Yes |
|
29 |
Profitability for last two 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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loan |
|
|
|
Ujamben Shah |
3.492 |
0.051 |
|
Preeti Shah |
1.110 |
0.000 |
|
Vijay Shah |
2.285 |
0.000 |
|
Total |
6.887 |
0.051 |
FINANCIAL RESULTS:
The Company has achieved gross sales of Rs. 51.869 Million and earned net profit of Rs.0.716 Million resulting out of transaction during the year.
INDEX OF CHARGES :
|
.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10483983 |
26/02/2015 * |
22,500,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
C51494094 |
* Date of charge modification
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 records 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.63.92 |
|
|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.70.41 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.