MIRA INFORM REPORT
|
Report No. : |
311665 |
|
Report Date : |
13.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRATEC ENGINEERS
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
18/2, Punjabi Bagh Extention,
Delhi – 110026 |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.03.1995 |
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|
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Com. Reg. No.: |
55-066563 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.8.761
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC066563 |
|
|
|
|
IEC No.: |
DELT02026D |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged primarily in the manufacturing of Trailers for Domestic |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (19) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company with moderate track record. The company has incurred consecutive losses. The rating gets constrained due to delays in debt-servicing. However, business is active. Payment terms are slow and delayed. The company can be considered for business dealings on safe and
secured 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating = “D” |
|
Rating Explanation |
In default or expected to be in default on maturity |
|
Date |
October 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term rating = “D” |
|
Rating Explanation |
Lowest-credit quality very low prospects of recovery. |
|
Date |
October 2013 |
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
31-03-2014.
LOCATIONS
|
Registered Office : |
18/2, Punjabi Bagh Extention, Delhi – 110026, India |
|
Tel. No.: |
91-11-25223427 |
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Fax No.: |
91-11-25223427 |
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E-Mail : |
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|
Website : |
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Factory |
Damdama Lake Road Village and Po Bhondsi, Gurgaon, Haryana, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Kamal Khosla |
|
Designation : |
Director |
|
Address : |
V-10/6, DLF City, Phase – III, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
20.01.1953 |
|
Date of Appointment : |
21.03.1995 |
|
DIN No.: |
00837228 |
|
|
|
|
Name : |
Mr. Anil Narendra |
|
Designation : |
Director |
|
Address : |
18/2, Punjabi Bagh Extention New Delhi – 110026, India |
|
Date of Birth/Age : |
21.11.1959 |
|
Date of Appointment : |
18.04.2012 |
|
DIN No.: |
00295891 |
|
|
|
|
Name : |
Mr. Krishnaswamy Rangaswamy |
|
Designation : |
Director |
|
Address : |
422, Commons Circle, Clarendon Hills Chicago 60514 |
|
Date of Birth/Age : |
22.11.1939 |
|
Date of Appointment : |
01.03.2011 |
|
DIN No.: |
03480421 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
Vandana Khosla JT. Vandana Khosala |
65481 |
7.47 |
|
Kamal Khosla |
103160 |
11.78 |
|
Shweta Khosla |
9525 |
1.09 |
|
Krishnaswamy Rangaswamy JT. Padma Rangaswami |
85700 |
9.78 |
|
AVS Technologies Private Limited, India |
343600 |
39.22 |
|
Khosla Kamal JT. Vandana Khosala |
217014 |
24.77 |
|
Anil Narendra |
25790 |
2.94 |
|
Vimal Narendra |
25790 |
2.94 |
|
|
|
|
|
Total |
876060 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
39.22 |
|
Directors or relatives of Directors |
60.78 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged primarily in the manufacturing of
Trailers for Domestic |
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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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Million)
Note : LONG TERM
BORROWING Security : Term Loans from Indian Overseas Bank are secured against Building and Plant and Machinery situated at Bawal Plant. Deferred Payment liability payable to HSlDC Is secured against the land situated at Bawal. Vehicle Loans taken from Kotak Mahindra Bank and lC1Cl are secured against respective Vehicles. Unsecured Term Loans from Kotak Mahlndra Bank and Tata Capital Finance Service are secured against Personal Guarantee of Directors. Repayment : Term Loan from Indian Overseas Bank amounting to Rs. 126.300 Millions Is repayable In 60 equal monthly installments commencing from May, 2012. Term Loan from lnilan Overseas Bank amounting to Rs. 63.800 Millions is repayable In 60 monthly installments commencing from September, 2013. Loan from Kotak Mahindra Bank Limited amounting to Rs. 5.000 Million is payable In 36 installments commencing from August 2012. Deferred Payment Liabilities amounting to Rs.9.594 Million is payable In 8 semi annual installments commencing from 19th March, 2012. - Loan From Tata Capital Financial Services Limited amounting to Rs 40 Lakhs Is repayable In 24 Installments Startling From September 2012 Default In
repayment of Principal and Interest : HSlDC :The company has Defaulted In repayment of Principle amount Of Rs 5.857 Million and interest of Rs 1.152 Million (Previous Year – Principle amount of Rs 3.79 Million and interest of Rs 1.437 Million) Indian Overseas Bank: The Company has defaulted In Repayment of Principle of Rs 3.255 and interest of Rs 1.592 (Previous Year Rs. 4.210 Million) SHORT TERM
BORROWING Working Capital Loan Facilities horn Indian Overseas Bank are secured by hypothecation of Stocks and Book Debts with Collateral Security of Plant and Machinery and Land and Building situated at Bawal and Bhondsl. |
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Auditors : |
|
|
Name : |
Khiwani and Company Chartered Accountants |
|
Address : |
23/26, II Floor, East Patel Nagar, New Delhi – 110008, India |
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Tel. No.: |
91-11-25714542/ 2575838 |
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Fax No.: |
91-11-42481491 |
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E-Mail : |
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PAN No.: |
AAAFK7995E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises over which key managerial personnel have significant
influence : |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
876,060 |
Equity Shares |
Rs.10/- each |
Rs. 8.761
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
8.761 |
8.761 |
8.761 |
|
(b) Reserves & Surplus |
263.384 |
307.531 |
323.591 |
|
(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) |
272.145 |
316.292 |
332.352 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
87.570 |
140.132 |
98.310 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
14.919 |
10.548 |
|
(c) Other long term
liabilities |
23.078 |
0.578 |
0.578 |
|
(d) long-term provisions |
6.094 |
5.836 |
0.000 |
|
Total
Non-current Liabilities (3) |
116.742 |
161.465 |
109.436 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
151.715 |
143.273 |
78.117 |
|
(b) Trade payables |
86.682 |
140.655 |
107.782 |
|
(c) Other current liabilities |
220.370 |
118.448 |
164.969 |
|
(d) Short-term provisions |
1.051 |
0.808 |
39.414 |
|
Total
Current Liabilities (4) |
459.818 |
403.184 |
390.282 |
|
|
|
|
|
|
TOTAL |
848.705 |
880.941 |
832.070 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
399.739 |
305.405 |
95.140 |
|
(ii) Intangible Assets |
0.278 |
0.465 |
0.637 |
|
(iii) Capital work-in-progress |
0.000 |
102.878 |
268.667 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
17.291 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.825 |
2.874 |
1.803 |
|
(e) Other Non-current assets |
0.000 |
6.979 |
6.333 |
|
Total
Non-Current Assets |
419.133 |
418.601 |
372.580 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
306.775 |
296.445 |
260.571 |
|
(c) Trade receivables |
68.373 |
109.584 |
99.353 |
|
(d) Cash and cash equivalents |
19.936 |
17.310 |
31.084 |
|
(e) Short-term loans and
advances |
34.361 |
38.921 |
68.482 |
|
(f) Other current assets |
0.127 |
0.080 |
0.000 |
|
Total
Current Assets |
429.572 |
462.340 |
459.490 |
|
|
|
|
|
|
TOTAL |
848.705 |
880.941 |
832.070 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
281.439 |
635.003 |
910.533 |
|
|
Other Income |
2.351 |
4.290 |
6.122 |
|
|
TOTAL
(A) |
283.790 |
639.293 |
916.655 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
(B) |
NA |
602.702 |
801.774 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
NA |
36.591 |
114.881 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
35.172 |
5.792 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
1.419 |
109.089 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
13.096 |
5.871 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
NA |
(11.677) |
103.218 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
NA |
4.383 |
33.777 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(44.147) |
(16.060) |
69.441 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
26.890 |
41.092 |
43.982 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
22.945 |
45.162 |
70.581 |
|
|
TOTAL
IMPORTS |
22.945 |
45.162 |
70.581 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(50.39) |
(18.33) |
79.26 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(15.69) |
(2.53) |
7.63 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
NA |
5.76 |
12.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(1.50) |
18.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
(0.04) |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.88 |
0.90 |
0.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93 |
1.15 |
1.18 |
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 |
8.761 |
8.761 |
8.761 |
|
Reserves & Surplus |
323.591 |
307.531 |
263.384 |
|
Net
worth |
332.352 |
316.292 |
272.145 |
|
|
|
|
|
|
long-term borrowings |
98.310 |
140.132 |
87.570 |
|
Short term borrowings |
78.117 |
143.273 |
151.715 |
|
Total
borrowings |
176.427 |
283.405 |
239.285 |
|
Debt/Equity
ratio |
0.531 |
0.896 |
0.879 |
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 |
910.533 |
635.003 |
281.439 |
|
|
|
(30.260) |
(55.679) |
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 |
910.533 |
635.003 |
281.439 |
|
Profit |
69.441 |
(16.060) |
(44.147) |
|
|
7.63% |
(2.53%) |
(15.69%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Million
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current maturities of long-term debt |
63.285 |
53.619 |
27.872 |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
From Banks |
0.360 |
1.714 |
|
From Financial Institution |
0.000 |
0.407 |
|
|
|
|
|
Total |
0.360 |
2.121 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90060856 |
15/09/2012 * |
632,000,000.00 |
INDIAN OVERSEAS BANK |
PARLIAMENT STREET BRANCH, 10,JEEVAN DEEP BUILDING,PARLIAMENT STREET, NEW DELHI, Delhi - 110001, INDIA |
B59661405 |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Generator
- Measuring Instruments
- Office Equipments
- Computers
- Vehicles and Cars
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. 62.75 |
|
|
1 |
Rs. 94.60 |
|
Euro |
1 |
Rs.67.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
ART |
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 |
2 |
|
--PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
NO |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
19 |
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.