MIRA INFORM REPORT
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Report No. : |
313813 |
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Report Date : |
25.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
VAV LIFE SCIENCES PRIVATE LIMITED |
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Registered
Office : |
51-B, Mittal Court, Nariman Point, Mumbai – 400021, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.01.2003 |
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Com. Reg. No.: |
11-138713 |
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Capital
Investment / Paid-up Capital : |
Rs. 6.000 Million |
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CIN No.: [Company Identification
No.] |
U24230MH2003PTC138713 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV09283B /
MUMV09284C |
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PAN No.: [Permanent Account No.] |
AABCV5999H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporters of
Organic, Inorganic and Bio Chemicals. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100000 |
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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 having satisfactory track record. Financial position of the company is good. No borrowings recorded by
the company. Trade relations are reported as fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered normal 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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 : |
51-B, Mittal
Court, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22836802 |
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Fax No.: |
91-22-22836809 |
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E-Mail : |
sabita@vav.in |
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Website : |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mr. Arun
Radhyeshyam Kedia |
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Designation : |
Director |
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Address : |
192/C Grand Paradi
Apartment, Kemps Corner, Mumbai – 400036, |
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Date of Birth/Age : |
25.08.1967 |
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Date of Appointment : |
16.01.2003 |
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DIN NO: |
00235581 |
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Other Directorship :
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Name : |
Sabita Arun Kedia
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Designation : |
Director |
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Address : |
192/C Grand
Paradi Apartment, Kemps Corner, Mumbai – 400036, |
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Date of Birth/Age : |
09.08.1971 |
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Date of Appointment : |
29.07.2006 |
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DIN NO: |
00552187 |
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Other Directorship
:
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Name : |
Joggy George Premadikuzhiyil |
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Designation : |
Director |
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Address : |
B/206, Vijay Smruti Housing Society, Pendse Nagar, 4th Road,
Dombivli (East), Dombivali - 421201, Maharashtra, India |
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Date of Appointment : |
21.06.2013 |
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DIN NO: |
06582372 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Arun Kedia |
|
240000 |
|
Sabita Kedia |
|
120000 |
|
Bimalal Kedia |
|
119980 |
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Arun Kedia (HUF) |
|
120000 |
|
B P Refineries Business |
|
20 |
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Total |
|
600000 |
AS ON 27.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
99.99 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporters of
Organic, Inorganic and Bio Chemicals. |
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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 Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS 31.03.2011
|
Particulars |
Unit |
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|
Actual
Production |
|
Chemicals |
Kg |
|
|
23382 |
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 : |
Bank of India, Ballard Estate Branch, Darabshaw House,Narottam Morarji Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India |
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Facilities : |
-- |
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Auditors : |
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Name : |
N M Dani and Company Chartered Accountants |
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Address : |
402, Rajshila Building, 597 J S S Road, Princess Street, Mumbai –
400002, Maharashtra, India |
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PAN No.: |
AABCV5999H |
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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 27.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1200000 |
Equity Shares |
Rs. 10/- each |
Rs. 12.000 Million |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
600000 |
Equity Shares |
Rs. 10/-
each |
Rs. 6.000
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 |
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|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
6.000 |
6.000 |
6.000 |
|
(b) Reserves & Surplus |
55.417 |
38.864 |
30.891 |
|
(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) |
61.417 |
44.864 |
36.891 |
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|
|
|
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.564 |
0.385 |
0.156 |
|
(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) |
0.564 |
0.385 |
0.156 |
|
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|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
17.419 |
7.228 |
0.682 |
|
(c) Other
current liabilities |
9.158 |
7.331 |
3.135 |
|
(d) Short-term
provisions |
7.886 |
2.553 |
1.511 |
|
Total Current
Liabilities (4) |
34.463 |
17.112 |
5.328 |
|
|
|
|
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TOTAL |
96.444 |
62.361 |
42.375 |
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II.
ASSETS |
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|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
9.435 |
10.055 |
8.999 |
|
(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 |
10.000 |
10.000 |
10.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
19.435 |
20.055 |
18.999 |
|
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
19.300 |
13.004 |
11.212 |
|
(b)
Inventories |
1.922 |
4.527 |
1.422 |
|
(c) Trade
receivables |
13.281 |
15.275 |
5.004 |
|
(d) Cash
and cash equivalents |
22.162 |
5.677 |
4.088 |
|
(e)
Short-term loans and advances |
20.344 |
3.823 |
1.650 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
77.009 |
42.306 |
23.376 |
|
|
|
|
|
|
TOTAL |
96.444 |
62.361 |
42.375 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
111.257 |
88.823 |
76.231 |
|
|
|
Other Income |
1.146 |
2.449 |
3.131 |
|
|
|
TOTAL (A) |
112.403 |
91.272 |
79.362 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
58.074 |
53.156 |
41.610 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.538 |
(3.048) |
1.935 |
|
|
|
Employees benefits expense |
10.852 |
8.465 |
8.108 |
|
|
|
Other expenses |
13.631 |
17.915 |
15.146 |
|
|
|
TOTAL (B) |
84.095 |
76.488 |
66.799 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
28.308 |
14.784 |
12.563 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.018 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.308 |
14.766 |
12.563 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.671 |
0.569 |
0.509 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
27.637 |
14.197 |
12.054 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.329 |
4.821 |
3.408 |
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|
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|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
18.308 |
9.376 |
8.646 |
|
|
|
|
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|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
11.866 |
9.890 |
1.004 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
6.000 |
6.000 |
6.000 |
|
|
|
Dividend |
1.500 |
1.200 |
1.200 |
|
|
|
Tax on Dividend |
0.250 |
0.200 |
0.199 |
|
|
BALANCE CARRIED
TO THE B/S |
22.424 |
11.866 |
9.890 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
100.864 |
75.155 |
67.069 |
|
|
TOTAL EARNINGS |
100.864 |
75.155 |
67.069 |
|
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2.293 |
3.336 |
0.000 |
|
|
|
Trading Goods |
0.856 |
11.507 |
0.422 |
|
|
TOTAL IMPORTS |
3.149 |
14.843 |
0.422 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.33 |
14.41 |
14.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
16.46
|
10.56 |
11.34 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
25.44
|
16.64 |
16.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
31.97 |
27.11 |
37.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
0.32 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.23 |
2.47 |
4.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
6.000 |
6.000 |
6.000 |
|
Reserves & Surplus |
30.891 |
38.864 |
55.417 |
|
Net
worth |
36.891 |
44.864 |
61.417 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
76.231 |
88.823 |
111.257 |
|
|
|
16.518 |
25.257 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
76.231 |
88.823 |
111.257 |
|
Profit |
8.646 |
9.376 |
18.308 |
|
|
11.34% |
10.56% |
16.46% |
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 |
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 |
No |
|
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 |
No |
|
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 |
PERFORMANCE OF THE COMPANY
The company achieved net sales of Rs. 11.260 Million in the year ended 31st
March 2014.
The net
profit after tax is Rs. 18.310 Million as against Rs. 9.380 Million in the previous year, a growth
of 95%. The margin improvement in 2014 is testimony to our ability to adapt our
operation to prevailing circumstances.
Furthermore, with a global footprint in more
than 30 countries, a promising R and D pipeline, talented components to achieve
susutaniable growth.
VAV participants in international conferece
and exhibitions in Europe and
India. Such participants helps us
in expanding our network of customers.
Life Sciences products to Europe
continued to remain the dominant revenue
earners for the company. 55% of the
total exports revenue is from Europe
alone. The customers are assured of timely delivery of quality products through
our well established marketing network.
During the year VAV verntured into new segment
(cosmetics) through the launch of it’s
innovation products “Eyova”. Eyova sales is routed through online channels and
tie – ups with E-Commerce sites. Eyova has enjoyed considerable success in the
domestic market.
VAV has also invested in research of a
revoluntary novel formulation of Tamoxifen, for breast cancer, with eliminate
toxicity and targeted drug delivery. We have partnered with research institute
NIPER which is spearheading this project. Encouraging research by partnering
with institutes is one of the strategic models VAV follows.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10197798 |
29/04/2014 * |
32,000,000.00 |
BANK OF INDIA |
DARABSHAW HOUSE,NAROTTAM MORARJI MARG, BALLARD ESTATE, MUMBAI, Maharashtra - 400001, INDIA |
C30379804 |
|
2 |
10038578 |
07/02/2007 |
4,000,000.00 |
BANK OF INDIA |
BALLARD ESTATE BR,
BALLARD PIER, MUMBAI, MUMBAI, INDIA |
A11211653 |
|
3 |
10038579 |
07/02/2007 |
5,000,000.00 |
BANK OF INDIA |
BALLARD ESTATE BR,
BALLARD PIER, MUMBAI, MUMBAI, INDIA |
A11211711 |
* Date of charge modification
FIXED ASSETS
- Factory
Buildings
- Computers
- Vehicles
- Office
Equipments
- Electric Installation
- Furniture and
Fixture
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. 62.29 |
|
|
1 |
Rs. 93.02 |
|
Euro |
1 |
Rs. 67.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIV |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
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.