MIRA INFORM REPORT

 

 

Report No. :

313787

Report Date :

23.03.2015

 

IDENTIFICATION DETAILS

 

Name :

SECUTECH AUTOMATION (INDIA) PRIVATE LIMITED

 

 

Registered Office :

G2-3, Sheetala Darshan, Lady Jamshedji Road, Mahim, Mumbai – 400016, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.04.2004

 

 

Com. Reg. No.:

146003

 

 

Capital Investment / Paid-up Capital :

Rs.2.500 Million

 

 

CIN No.:

[Company Identification No.]

U31907MH2004PTC146003

 

 

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 :

Trader of Electronic Security Systems, also service provider of Clean Development Mechanism.

 

 

No. of Employees :

20 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

The rating takes into consideration significant increase in the company’s turnover and net profitability during FY2014.

 

Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct.

 

The company 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.

 

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 31-03-2014.

 

INFORMATION PARTED BY

 

Name :

Mr. Anand Talari

Designation :

Account Manager

Contact No.:

91-22-43424342

Date :

20.03.2015

 

 

LOCATIONS

 

Registered Office / Corporate Office:

G2-3, Sheetala Darshan, Lady Jamshedji Road, Mahim, Mumbai – 400016, Maharashtra, India

Tel. No.:

91-22-43424342 / 24469444

Fax No.:

91-22-43424343

E-Mail :

cms@secutechautomation.com

ramnath_rm1@rediffmail.com

info@secutechautomation.com

Website :

http://www.secutechautomation.com

 

 

Project Office :  

11/4 Friends Avenue, Arumbakkam, Chennai – 560106, tamilnadu, India

 

 

Warehouse Office :

Plot No. 2 and 3 , Kedia Industrial Estate, Deku Village, Next to Fibre Foils, Khopoli – 410203, Maharashtra, India

 

 

Branch :

Located At :

 

  • Hyderabad
  • Bangalore

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Aditya Subraya Prabhu

Designation :

Director

Address :

Top Floor, Narayan Bhavan, D. L. Vaidya Road, Dadar (West), Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

18.09.1977

Date of Appointment :

29.04.2004

DIN No.:

01386270

 

 

Name :

Deepali Sanjay Kelkar

Designation :

Director

Address :

3, Sita Sapan Off. Tulsi, Pipe Road, Dadar (West), Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

04.11.1977

Date of Appointment :

29.04.2004

DIN No.:

00932815

 

 

KEY EXECUTIVES

 

Name :

Mr. Anand Talari

Designation :

Account Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Aditya Subraya Prabhu

 

125,000

Deepali Sanjay Kelkar

 

125,000

Total

 

250,000

 

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 :

Trader of Electronic Security Systems, also service provider of Clean Development Mechanism.

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

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 :

Reference :
  • IAL Logistics India Limited
  • Om Foreign Forwarders Private Limited
  • Lavin Star Logistics Private Limited
  • Om Logistics Limited
  • Atlas Logistics Limited
  • Cygnus Information Solutions Private Limited
  • M R Trading Company
  • Zaco Computers Private Limited
  • Dell India Private limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End Users and OEMs

 

Reference :
  • Pelco Inc.
  • Easylo Holdings Pte Limited
  • UTC Fire and Security Singapore Pte Limited
  • Bosch Limited
  • Kalyani Electronics
  • Sun TV Network Limited
  • Vodafone India Services Private Limited
  • Asian Paints Limited
  • KSPG Automotive India Private Limited
  • Mahalaxmi and Company

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

20 (Approximately)

 

 

Bankers :

Bank Name

ICICI Bank Limited

Branch

Alkapuri Branch

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Cash Credit : Rs.40.000 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • Deutsche Bank
  • Vijaya Bank, Mahim Branch, L. J. Road, Mahim (West), Mumbai - 400016, Maharashtra, India

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loan from Bank

0.000

1.689

Term loan from others

1.013

1.379

Short-term borrowings

 

 

Term loan from Bank

[ICICI Bank (Cash Credit) : The company has Cash / Credit A/c with ICICI Bank Limited. The renewal date of loan is 21.08.2014. The rate of interest is 13.25% p.a.  ]

19.323

14.252

Total

20.336

17.320

 

NOTE :

 

Details of repayment for other long term borrowing and security provided in respect of the same

 

Particulars

31.03.2014

31.03.2013

Term loan from Bank

Deutsche Bank

The company has borrowed Rs.5.000 Million from Deutsche Bank on 12.12.2011. The total no. of installments are 36 monthly installments. The installments pending as on 31.01.2014 are 10, EMI amount is Rs.0.184 Million including credit maintenance charges of Rs.0.004 Million.

0.000

1.689

Term loan form Other

BMW Finance Services

The company has borrowed Rs.2.300 Million from BMW Finance Service on 16.04.2011. The total no. of installments are 59 monthly installments. The installments pending as on 31.01.2014 are 10, EMI amount is 24 Million including credit maintenance charges of Rs.0.041 Million

1.013

1.379

 

 

Auditors :

 

Name :

Ramdas Ugale and Associate

Chartered Accountants

Address :

10, 2nd Floor, Om Yashodhan CHS Limited, G.K. Gokhale Road, Near Hanuman Chowk, Mulund (E), Mumbai – 400081, Maharashtra, India

Tel. No.:

91-22-25636435 / 25636438

Mobile No.:

91-9892769155 / 9773943148

E-Mail :

Ramuugale2007@gmail.com

PAN N Income-tax PAN of auditor or auditor's firm :

AAGPU6134K

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiary Company :

Secutech Automation Pte Limited, Singapore

(The sister concern of the company is Obisca Intellisol Limited )

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250,000

Equity Shares

Rs.10/- each

Rs. 2.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250,000

Equity Shares

Rs.10/- each

Rs. 2.500 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

2.500

2.500

2.500

(b) Reserves & Surplus

37.682

27.696

24.109

(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)

40.182

30.196

26.609

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1.013

3.924

8.423

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

1.013

3.924

8.423

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

19.323

14.252

20.232

(b) Current maturities of long term borrowings

2.055

2.379

3.050

(c) Trade payables

80.697

57.348

49.520

(d) Other current liabilities

22.118

14.762

15.029

(e) Short-term provisions

1.953

1.533

4.461

Total Current Liabilities (4)

126.146

90.274

92.292

 

 

 

 

TOTAL

167.341

124.394

127.324

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4.081

4.812

5.528

(ii) Intangible Assets

0.000

0.000

0.000

(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

0.102

0.000

0.000

(c) Deferred tax assets (net)

6.020

1.957

1.840

(d)  Long-term Loan and Advances

12.973

2.052

2.361

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

23.176

8.821

9.729

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

2.881

3.986

2.196

(c) Trade receivables

126.513

103.132

104.459

(d) Cash and cash equivalents

5.563

2.767

4.056

(e) Short-term loans and advances

2.115

2.059

6.212

(f) Other current assets

7.093

3.629

0.672

Total Current Assets

144.165

115.573

117.595

 

 

 

 

TOTAL

167.341

124.394

127.324

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

200.759

136.456

175.974

 

Other Income

8.950

2.252

0.067

 

TOTAL (A)

209.709

138.708

176.041

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Labour Expenses

6.475

6.045

9.078

 

Purchases of Stock-in-Trade

124.344

72.154

86.085

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

1.105

(1.789)

2.225

 

Employees benefits expense

39.076

31.316

29.300

 

Other expenses

23.565

18.152

33.655

 

TOTAL (B)

194.565

125.878

160.343

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

15.144

12.830

15.698

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

5.274

5.544

5.132

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

9.870

7.286

10.566

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

1.367

1.554

1.884

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

8.503

5.732

8.682

 

 

 

 

 

Less

TAX (H)

(1.364)

1.883

2.816

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

9.867

3.849

5.866

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Towards supply of Material and Services

3.739

0.000

0.000

 

TOTAL EARNINGS

3.739

0.000

0.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

Purchase Cost

24.871

14.317

26.221

 

Freight

0.039

0.003

0.557

 

Insurance

0.820

0.113

0.003

 

TOTAL IMPORTS

25.730

14.433

26.781

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

39.47

15.40

23.46

 

 

Expected Sales (2014-2015 ) : Rs.250.000 Million

 

The above information has been parted by Mr. Anand Talari.

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

4.91

2.82

3.33

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

7.54

9.40

8.92

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

5.27

4.68

6.92

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.21

0.19

0.33

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.51

0.60

1.08

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.14

1.28

1.27

 

 

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

2.500

2.500

2.500

Reserves & Surplus

24.109

27.696

37.682

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

26.609

30.196

40.182

 

 

 

 

long-term borrowings

8.423

3.924

1.013

Short term borrowings

20.232

14.252

19.323

Total borrowings

28.655

18.176

20.336

Debt/Equity ratio

1.077

0.602

0.506

 

 

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

175.974

136.456

200.759

 

 

(22.457)

47.124

 

 

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

175.974

136.456

200.759

Profit

5.866

3.849

9.867

 

3.33%

2.82%

4.91%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG-TERM DEBT BORROWINGS:

 

Particulars

31.03.2014

31.03.2013

31.03.2012

 

(Rs. In Million)

Current maturities of long-term Borrowings

 

 
 

Term loan from Bank

 

 
 

Deutsche Bank

1.689

1.694
1.419

HDFC Bank

0.000

0.354
0.531

Term loan from others

 

 
 

BMW Finance Services

0.366

0.331
0.300

Bajaj Finance

0.000

0.000

0.800

Total

2.055

2.379
3.050

 

 

 

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

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

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

Yes

18]

Major customers

Yes

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

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

No

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loan from others

0.000

0.000

Loans and Advances from relative and others

 

 

K S Prabhu

0.000

0.456

Neisa Laser Centre

There is no outstanding loan from relative and others

0.000

0.400

Total

0.000

0.856

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10302006

31/03/2010

40,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Guj 
arat - 390015, INDIA

B07292840

 

 

COMPANY’S PERFORMANCE

 

FY 2013-2014 was the 10th year of the company in which the company has achieved turnover of Rs.200.800 Million, which is in tune with the market scenario and is commendable.

 

CORPORATE INFORMATION 

 

The company is engaged in trading, Installation and Commissioning of Integrated Building Management Systems comprising of Fire Alarm, CCTV, Access Control and Allied Services.

 

FIXED ASSETS

 

  • Motor Car
  • BMW Car
  • Ford Car
  • Two Wheeler
  • Furniture and Fixture
  • Office Equipment
  • Air Conditioner
  • Computer System
  • EPBX and Telephone Instruments

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.62.49

UK Pound

1

Rs.92.26

Euro

1

Rs.66.80

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

SUM

 

 

Report Prepared by :

SNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

5

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

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

 

44

 

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

 

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.