MIRA INFORM REPORT
|
Report No. : |
314645 |
|
Report Date : |
27.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
CS COMPONENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
205, 2nd Floor, Vastu Prestige, Above Tanishq, New Link Road,
Andheri West, Mumbai – 400053, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.06.2001 |
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Com. Reg. No.: |
11-132527 |
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Capital
Investment / Paid-up Capital : |
Rs.4.800 Million |
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CIN No.: [Company Identification
No.] |
U74210MH2001PTC132527 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC08364G |
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PAN No.: [Permanent Account No.] |
AABCC6009P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and exporter of engineering goods, components etc. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 570000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Profitability of the company seems to be low during 2014. However, trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered normal for business dealings with some
cautions. |
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating: “BB-“ |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
28.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating: “A4+” |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
28.05.2014 |
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. Govind Nair |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-26735166 |
|
Date : |
26.03.2015 |
LOCATIONS
|
Registered Office : |
205, 2nd Floor, Vastu Prestige, Above Tanishq, New Link
Road, Andheri West, Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26735166 / 64 / 26735167 / 39401525 |
|
Fax No.: |
91-22-26732815 |
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E-Mail : |
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|
Website : |
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Area : |
1000 Sq. ft. |
|
Location : |
Owned |
|
|
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Factory : |
Plot No. 194/195 / 196, GIDC, Umbergaon, Valsad – 396171, Gujarat,
India |
|
Tel. No.: |
91-260-2562162 / 2562148 |
|
Fax No.: |
91-260-2564172 |
DIRECTORS
AS ON 23.09.2014
|
Name : |
Mr. Shridhar Bansidhar Gupta |
|
Designation : |
Director |
|
Address : |
B-5 / 1204, Valencia Tower, Sunder Van, Andheri (West), Mumbai –
400053, India |
|
Date of Birth/Age : |
05.09.1946 |
|
Date of Appointment : |
28.06.2001 |
|
DIN No.: |
00398524 |
|
|
|
|
Name : |
Mr. Ashok Shridhar Gupta |
|
Designation : |
Director |
|
Address : |
B-5 / 1204, Valencia Tower, Sunder Van, Andheri (West), Mumbai –
400053, India |
|
Date of Birth/Age : |
03.03.1968 |
|
Date of Appointment : |
23.08.2014 |
|
DIN No.: |
00398706 |
KEY EXECUTIVES
|
Name : |
Mr. Govind Nair |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
AS ON 23.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Shridhar Bansidhar Gupta |
51125 |
10.65 |
|
Mohammed Umer Mohammed Farooq |
125000 |
26.04 |
|
Ashok Shridhar Gupta |
97500 |
20.31 |
|
Deepak Shridhar Gupta |
60750 |
12.66 |
|
Mohammed Haroon Mohammed Farooq |
57500 |
11.98 |
|
Rubina Mohammed Quamer |
57500 |
11.98 |
|
Manish Rajkumar Agarwal |
30625 |
6.38 |
|
|
|
|
|
Total |
480000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 23.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter of engineering goods, components etc. |
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Products : |
Engineering Goods, Components |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Machinery Parts |
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Countries : |
·
Japan ·
Germany |
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Terms : |
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Selling : |
Cheque and Credit |
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Purchasing : |
Cheque and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
GMJ and Company Chartered Accountants |
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Address : |
3rd and 4th
Floor, Vaastu Darshan B - wing, above Central Bank of India, Azad
Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
PAN No.: |
AAAFG2163L |
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Membership : |
-- |
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Enterprises over which Key Management Personnel are able to exercise
Significant influence: |
·
Metafine Enterprises ·
Santo Engineering Company Private Limited ·
Eldon CS Enclosures Private Limited ·
Central Machinery and Plastics Product |
CAPITAL STRUCTURE
AS ON 23.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
480000 |
Equity Shares |
Rs.10/- each |
Rs.4.800 Million |
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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 |
4.800 |
4.800 |
4.800 |
|
(b) Reserves & Surplus |
196.024 |
195.950 |
208.424 |
|
(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) |
200.824 |
200.750 |
213.224 |
|
|
|
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
28.300 |
24.750 |
59.276 |
|
(b) Deferred tax liabilities (Net) |
7.467 |
6.660 |
11.818 |
|
(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) |
35.767 |
31.410 |
71.094 |
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
50.036 |
51.714 |
45.578 |
|
(b) Trade
payables |
52.341 |
20.693 |
31.563 |
|
(c) Other current
liabilities |
16.220 |
35.765 |
44.779 |
|
(d) Short-term
provisions |
0.562 |
0.561 |
1.255 |
|
Total Current
Liabilities (4) |
119.159 |
108.733 |
123.175 |
|
|
|
|
|
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TOTAL |
355.750 |
340.893 |
407.493 |
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II.
ASSETS |
|
|
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|
(1)
Non-current assets |
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|
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|
(a) Fixed
Assets |
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|
|
|
(i)
Tangible assets |
174.584 |
195.021 |
220.676 |
|
(ii)
Intangible Assets |
1.678 |
1.245 |
1.011 |
|
(iii)
Capital work-in-progress |
0.169 |
0.250 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
27.200 |
20.900 |
20.900 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.714 |
2.414 |
2.414 |
|
(e) Other Non-current
assets |
5.385 |
5.226 |
2.781 |
|
Total Non-Current
Assets |
211.730 |
225.056 |
247.782 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
51.490 |
33.311 |
45.201 |
|
(c) Trade
receivables |
85.029 |
77.676 |
98.518 |
|
(d) Cash
and cash equivalents |
4.080 |
0.835 |
3.441 |
|
(e)
Short-term loans and advances |
2.010 |
3.838 |
12.447 |
|
(f) Other
current assets |
1.411 |
0.177 |
0.104 |
|
Total
Current Assets |
144.020 |
115.837 |
159.711 |
|
|
|
|
|
|
TOTAL |
355.750 |
340.893 |
407.493 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
267.964 |
230.550 |
432.263 |
|
|
Other Income |
0.748 |
1.131 |
0.717 |
|
|
TOTAL |
268.712 |
231.681 |
432.980 |
|
|
|
|
|
|
|
Less |
EXPENSES |
240.756 |
218.848 |
373.132 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
27.956 |
12.833 |
59.848 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
26.513 |
29.904 |
34.080 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.443 |
(17.071) |
25.768 |
|
|
|
|
|
|
|
Less |
TAX |
0.807 |
(5.159) |
8.781 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.636 |
(11.912) |
16.987 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
4.948 |
11.715 |
24.939 |
|
|
Components and Stores parts |
1.235 |
0.093 |
4.628 |
|
|
TOTAL
IMPORTS |
6.183 |
11.808 |
29.567 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.33 |
(24.81) |
35.39 |
Expected Sales (2014-2015): Rs.300.000 Million
The above information has been parted by Mr. Govind Nair (Accountant)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.24 |
(5.17) |
3.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
0.44 |
(5.34) |
6.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
(0.09) |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.39 |
0.38 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.07 |
1.30 |
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 |
4.800 |
4.800 |
4.800 |
|
Reserves & Surplus |
208.424 |
195.950 |
196.024 |
|
Net worth |
213.224 |
200.750 |
200.824 |
|
|
|
|
|
|
long-term borrowings |
59.276 |
24.750 |
28.300 |
|
Short term borrowings |
45.578 |
51.714 |
50.036 |
|
Total
borrowings |
104.854 |
76.464 |
78.336 |
|
Debt/Equity
ratio |
0.492 |
0.381 |
0.390 |
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 |
432.263 |
230.550 |
267.964 |
|
|
|
(46.664) |
16.228 |
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
|
432.263 |
230.550 |
267.964 |
|
Profit |
16.987 |
(11.912) |
0.636 |
|
|
3.93% |
(5.17%) |
0.24% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Loans from
related parties |
28.300 |
19.500 |
|
|
|
|
|
Total |
28.300 |
19.500 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10235229 |
30/07/2010 |
90,000,000.00 |
Oriental Bank of Commerce Limited |
Specialised
S.M.E. Branch, Bombay Bazar Building, |
A92273465 |
|
2 |
10144426 |
07/02/2009 |
20,000,000.00 |
Oriental Bank of Commerce Limited |
Specialised Sme Branch, Bombay Bazar Bldg, 1st Flr, Station Road, Santacruz West, Mumbai, Mumbai, Maharashtra - 400054, India |
A57515637 |
|
3 |
10061140 |
09/07/2007 |
5,000,000.00 |
Oriental Bank of Commerce Specialised SSI Branch |
Bombay
Bazar Building, 1st Floor, Station Road, |
A19589779 |
|
4 |
10057707 |
04/06/2007 |
13,000,000.00 |
Oriental Bank of Commerce Specialised SSI Branch |
Bombay Bazar Building, 1st Floor,, Station Road, Santacruz (West), Mumbai, Maharashtra - 400054, India |
A17742529 |
|
5 |
80004556 |
24/05/2006 * |
49,000,000.00 |
Oriental Bank of Commerce |
SSI
Branch, Bombay Bazar Building, 1st Floor, Station Road, Santacruz (West),
Mumbai, Maharashtra |
- |
|
6 |
80004558 |
16/10/2004 |
20,000,000.00 |
Oriental Bank of Commerce |
SSI Branch, Santacruz, Mumbai, Maharashtra - 400054, India |
- |
|
7 |
90141374 |
16/10/2004 * |
30,743,000.00 |
Oriental Bank of Commerce |
SSI Branch Bombay Bazar Building, Mumbai, Maharashtra - 400054, India |
- |
|
8 |
90147800 |
22/03/2012 * |
144,100,000.00 |
Oriental Bank of Commerce |
Specialised SME Branch, Bombay Bazar Building, 1st Floor, Station Road, Santacruz (W), Mumbai, Maharashtra - 400054, India |
B37280252 |
*Date of modification Charges
FIXED ASSETS:
·
·
·
Plant and Machinery
·
Office Equipment
·
Furniture’s and Fixtures
·
Computers
·
Motor Car
·
Scooter
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.62.67 |
|
|
1 |
Rs.93.26 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
3 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
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 |
|
28 |
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.