MIRA INFORM REPORT
|
Report No. : |
312379 |
|
Report Date : |
18.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
V. S. MEDICAL STORES |
|
|
|
|
Registered
Office : |
29, Maharana Pratap Centre, Opposite V. S. Hospital, Ahmedabad –
380006, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 (Consolidated) |
|
|
|
|
Year of
Establishment : |
13.12.1996 |
|
|
|
|
Capital Investment
: |
Rs. 3.525 Millions |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TIN No.: |
24573901672 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABTPG6200C |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Dealer and Distributors of Medicines. |
|
|
|
|
No. of Employees
: |
20 (Approximately) [In Office] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietary concern having satisfactory
track record. Trade relations are reported as fair. Business is active. Payment terms
are reported to be usually correct and as per commitment. The concern 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Mehulbhai Anilbhai Gandhi |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9824028406 |
|
Date : |
17.03.2015 |
LOCATIONS
|
Registered Office/ Factory : |
29, Maharana Pratap Centre, Opposite V. S. Hospital, Ahmedabad –
380006, Gujarat, India |
|
Tel. No.: |
91-79-26577055/ 40091654 |
|
Mobile No.: |
91-9824028406 (Mr. Mehulbhai Anilbhai Gandhi) |
|
Fax No.: |
91-79-26579576 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
300 sq. ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Mehulbhai Anilbhai Gandhi |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
02.07.1973 |
|
Qualification : |
D. Pharm., B.Sc. (Micro) M.L.T |
|
Experience : |
19 Years |
|
PAN No.: |
ABTPG6200C |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Distributors of Medicines. |
|
|
|
|
Products : |
Medicines |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
-- |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (21 Days) |
|
|
|
|
Purchasing : |
Credit (14 Days) |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers and End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
20 (Approximately) [In Office] |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
-- |
||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chetan J. Shah and Company Chartered Accountants |
|
Address : |
202, Nalanda Enclave, Opposite Sudama Resort, Pritamnagar,
Ellisbridge, Ahmedabad – 380006, Gujarat, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Sister Concerns: |
-- |
CAPITAL STRUCTURE
As on 31.03.2014
(Consolidated)
|
Capital Investment : |
|
|
Owned : |
Rs. 3.525 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 3.525
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note: Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 (Consolidated) |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietors Capital |
3.525 |
1.299 |
1.037 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Profit and Loss Account |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.525 |
1.299 |
1.037 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.762 |
1.692 |
|
|
TOTAL BORROWING |
6.621 |
0.762 |
1.692 |
|
|
DEFERRED TAX LIABILITIES |
0.00 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.146 |
2.061 |
2.729 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.506 |
0.041 |
0.049 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.736 |
0.000 |
2.053 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.212
|
6.246 |
4.034 |
|
|
Sundry Debtors |
3.466
|
1.343 |
0.570 |
|
|
Cash & Bank Balances |
1.705
|
0.593 |
0.292 |
|
|
Other Current Assets |
1.100
|
1.100 |
0.000 |
|
|
Loans & Advances |
1.087
|
1.428 |
0.046 |
|
Total
Current Assets |
22.570
|
10.710 |
4.942 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
17.666
|
8.448 |
4.107 |
|
|
Other Current Liabilities |
0.000
|
0.242 |
0.208 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
17.666
|
8.690 |
4.315 |
|
|
Net Current Assets |
4.904
|
2.020 |
0.627 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.146 |
2.061 |
2.729 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 (Consolidated) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
61.212 |
|
|
|
Other Income |
|
|
0.101 |
|
|
|
TOTAL |
|
|
61.313 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
56.501 |
|
|
|
2% ITC Reduction |
|
|
0.061 |
|
|
|
Advertisement Expenses |
|
|
0.031 |
|
|
|
Bank Charges |
|
|
0.002 |
|
|
|
Bonus |
|
|
0.130 |
|
|
|
Insurance Expenses |
|
|
0.008 |
|
|
|
Mobile Expenses |
|
|
0.054 |
|
|
|
Postage and Courier Expenses |
|
|
0.023 |
|
|
|
Petrol Expenses |
|
|
0.221 |
|
|
|
Professional Tax |
|
|
0.002 |
|
|
|
Salary Expenses |
|
|
1.296 |
|
|
|
Salesman Salary |
|
|
0.084 |
|
|
|
Sales Promotions Expenses |
|
|
0.075 |
|
|
|
Sharafi Interest |
|
|
0.532 |
|
|
|
Staff Welfare Expenses |
|
|
0.143 |
|
|
|
Stationery and Printing Expenses |
|
|
0.040 |
|
|
|
Tea and Coffee Expenses |
|
|
0.084 |
|
|
|
Telephone Expenses |
|
|
0.017 |
|
|
|
Vakil Fee |
|
|
0.012 |
|
|
|
Vehicle Repairing Expenses |
|
|
0.054 |
|
|
|
Shop Expenses |
|
|
0.002 |
|
|
|
Other Expenses |
|
|
0.871 |
|
|
|
TOTAL |
|
|
60.243 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE DEPRECIATION |
|
|
1.070 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION |
|
|
0.052 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
|
|
1.018 |
|
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
31.378 |
27.192 |
|
|
|
Other Income |
|
0.183 |
0.001 |
|
|
|
TOTAL |
|
31.561 |
27.193 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
29.566 |
25.476 |
|
|
|
2% Reduction in ITC |
|
0.002 |
0.000 |
|
|
|
Account Charges |
|
0.030 |
0.032 |
|
|
|
Advertisement Expenses |
|
0.030 |
0.000 |
|
|
|
Audit Fees |
|
0.000 |
0.020 |
|
|
|
Bank Charges |
|
0.009 |
0.004 |
|
|
|
Bonus |
|
0.070 |
0.050 |
|
|
|
Commission Expenses |
|
0.199 |
0.200 |
|
|
|
Conveyance Allowance |
|
0.048 |
0.000 |
|
|
|
Conveyance Expenses |
|
0.109 |
0.088 |
|
|
|
Delivery Expenses |
|
0.110 |
0.000 |
|
|
|
Interest on TDS |
|
0.000 |
0.002 |
|
|
|
Kasar |
|
0.000 |
0.001 |
|
|
|
Loan Interest Expenses |
|
0.073 |
0.208 |
|
|
|
Loan Process Fee and Charges |
|
0.000 |
0.034 |
|
|
|
Mobile Expenses |
|
0.023 |
0.020 |
|
|
|
Postage and Courier Expenses |
|
0.021 |
0.014 |
|
|
|
Rounded off |
|
0.001 |
0.001 |
|
|
|
Salary |
|
0.473 |
0.438 |
|
|
|
Salesman Salary |
|
0.084 |
0.063 |
|
|
|
Sales promotion Expenses |
|
0.023 |
0.000 |
|
|
|
Shop Expenses |
|
0.016 |
0.005 |
|
|
|
Staff Welfare Expenses |
|
0.051 |
0.000 |
|
|
|
Stationery Expenses |
|
0.008 |
0.027 |
|
|
|
Tea and Coffee Expenses |
|
0.025 |
0.024 |
|
|
|
Vakil Fees |
|
0.003 |
0.003 |
|
|
|
Vehicle Repairing / Maintenance Expenses |
|
0.007 |
0.006 |
|
|
|
TOTAL |
|
30.981 |
26.716 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE DEPRECIATION |
|
0.580 |
0.477 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION |
|
0.007 |
0.004 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
|
0.573 |
0.473 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.66
|
1.83 |
1.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.76
|
5.33 |
9.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.44 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.88
|
0.59 |
1.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28
|
1.23 |
1.15 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014
(Consolidated) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Proprietors Capital |
1.037 |
1.299 |
3.525 |
|
Profit and Loss Account |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1.037 |
1.299 |
3.525 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
|
|
Unsecured Loans |
1.692 |
0.762 |
|
|
Total
borrowings |
1.692 |
0.762 |
6.621 |
|
Debt/Equity
ratio |
1.632 |
0.587 |
1.878 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014
(Consolidated) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
27.192 |
31.378 |
61.212 |
|
|
|
15.394 |
95.079 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014
(Consolidated) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
27.192 |
31.378 |
61.212 |
|
Profit |
0.473 |
0.573 |
1.018 |
|
|
1.74% |
1.83% |
1.66% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
------------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE
Subject is an organization promoted by a team of professionals that have experience in Healthcare Industry both in India and abroad for more than TWO decade. The company is established in the Industrial town Ahmedabad, Gujarat. The company is working in cooperation and association with a leading Healthcare company in India.
At “V. S. MEDICAL STORE” they are working tirelessly to Distribute and promote innovative life saving and life-enhancing medicines for all. They are committed to extending the frontiers of treatment and prevention so all can enjoy longer, healthier lives.
The company also has its own presence with a network of Distribution all over India, and also having presence through its strategic partners in almost 6 countries in the world.
VISION
Subject has been evolved looking at the need for emerging nations and developing countries and assisting in a modest way by providing effort to improve the quality of life.
To remain as a successful company is ‘Gujarat medicines’ market offering wide range of quality formulations/ products.
CORPORATE MISSION
Their mission is to effectively deliver Services/ Products utilizing Efficient Systems, facilities and manpower.
DISTRIBUTION SETUP
Subject along with its associates is involved in Supplies various VACCINES, Blood Products and various Life saving Drugs and specialty items
Their Distribution System offers a broad basket of blockbuster products and all encompassing emphasis on delivering quality products to their clients within the stipulated time. Care is taken to see that the facility complies with all Regulatory guidelines.
Subject is having ample of Space to provide room for New Products and they have also cold storage (Deep freezers and walking cold room)
------------------------------------------------------------------------------------------------------------------------------
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.62.69 |
|
|
1 |
Rs.92.99 |
|
Euro |
1 |
Rs.66.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
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 |
NO |
|
--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 |
|
46 |
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.