MIRA INFORM REPORT
|
Report No. : |
320981 |
|
Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
JASWAL CYCLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-100, Focal Point, Phase-V, Ludhiana – 141010, Punjab |
|
Tel. No.: |
91-9878900098 (Mr. Puneet) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.08.1995 |
|
|
|
|
Com. Reg. No.: |
16-016978 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.823 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35929PB1995PTC016978 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDJ00669E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ4164H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Bicycles. |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. For the financial year ended 2014, the company has reported decent
topline growth but it has low profitability margins. Rating further constrained on account of company’s moderate financial
risk profile and huge external borrowings taken by the company. However, trade relations are reported as fair. Payments are reported
to be slow but correct. In view of huge borrowings, the company can be considered for business
dealings with some caution. |
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. Puneet |
|
Designation : |
Key Executive |
|
Contact No.: |
91-9878900098 |
|
Date : |
04.05.2015 |
LOCATIONS
|
Registered Office/ Factory : |
C-100, Focal Point, Phase-V, Ludhiana – 141010, Punjab, India |
|
Tel. No.: |
91-161-2672286/ 4632286 |
|
Mobile No.: |
91-9878900098 (Mr. Puneet) |
|
Fax No.: |
91-161-2674982 |
|
E-Mail : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Tarvinder Singh Jaswal |
|
Designation : |
Director |
|
Address : |
544-L, Model Town, Ludhiana, Punjab, India |
|
Date of Appointment : |
30.08.1995 |
|
DIN No.: |
00796224 |
|
|
|
|
Name : |
Prem Kaur Jaswal |
|
Designation : |
Director |
|
Address : |
544-L, Model Town, Ludhiana, Punjab, India |
|
Date of Appointment : |
27.12.2004 |
|
DIN No.: |
00796268 |
|
|
|
|
Name : |
Harvinder Singh Jaswal |
|
Designation : |
Director |
|
Address : |
C-100, Focal Point, Phase-V, Ludhiana – 141010, Punjab, India |
|
Date of Appointment : |
30.08.1995 |
|
DIN No.: |
02451625 |
KEY EXECUTIVES
|
Name : |
Mr. Puneet |
|
Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Tarvinder
Singh Jaswal |
|
95600 |
|
Harvinder
Singh Jaswal |
|
22600 |
|
Tarvinder
Singh Jaswal(HUF) |
|
5000 |
|
Kartar
Singh Jaswal (HUF) |
|
15000 |
|
Harvinder
Singh Jaswal (HUF) |
|
5000 |
|
Prem
Kaur Jaswal |
|
139000 |
|
Jatinder
Kaur Jaswal |
|
100 |
|
|
|
|
|
Total |
|
282300 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bicycles. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Not Available |
|
Countries : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
Not Available |
|
Countries : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque |
|
|
|
|
Purchasing : |
Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
· A.K. Goyal and Company – Ludhiana · Bansal Steel Udyog – Ludhiana · Bhatia Hardware and Mill Store – Ludhiana · Harbans Singh and Sons – Ludhiana · M.M. Traders – Ludhiana · Mohit Enterprises – Ludhiana · Onkar Chemicals – Ludhiana ·
Rajesh Auto and Brass Industries - Ludhiana |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers
·
Arpan Cycles (India) – Ludhiana ·
Eastman Industries – Ludhiana ·
HPL Electric and Power Private Limited –
Solan ·
Prince Industrial Corporation – Malerkotla ·
Safari Bikes Limited – Ludhiana ·
Trishan Exports Private Limited – Ludhiana ·
Micron Instruments Private Limited -
Chandigarh |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
25 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
·
Union Bank of India SSI Branch, Cheema Chowk, Ludhiana - 141003,
Punjab, India ·
State Bank of
India G.T. Road, Ludhiana, Punjab, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gupta Vigg and Company Chartered Accountants |
|
Address : |
101 Kismat Complex GT Road Miller Ganj, Ludhiana – 141003, Punjab,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFG0353Q |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
282,300 |
Equity Shares |
Rs. 10/- each |
Rs. 2.823 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 |
2.823 |
2.823 |
2.823 |
|
(b) Reserves & Surplus |
2.893 |
2.462 |
2.343 |
|
(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) |
5.716 |
5.285 |
5.166 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
11.560 |
11.476 |
12.434 |
|
(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) |
11.560 |
11.476 |
12.434 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
24.977 |
25.199 |
21.891 |
|
(b)
Trade payables |
14.956 |
12.694 |
15.809 |
|
(c)
Other current liabilities |
1.025 |
1.500 |
1.436 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.110 |
|
Total
Current Liabilities (4) |
40.958 |
39.393 |
39.246 |
|
|
|
|
|
|
TOTAL |
58.234 |
56.154 |
56.846 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4.176 |
4.728 |
4.647 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(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 |
4.176 |
4.728 |
4.647 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
38.513 |
35.453 |
32.717 |
|
(c)
Trade receivables |
12.907 |
13.425 |
17.119 |
|
(d)
Cash and cash equivalents |
1.756 |
0.726 |
1.443 |
|
(e)
Short-term loans and advances |
0.882 |
1.822 |
0.920 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
54.058 |
51.426 |
52.199 |
|
|
|
|
|
|
TOTAL |
58.234 |
56.154 |
56.846 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
81.399 |
65.948 |
88.711 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.440 |
0.258 |
0.342 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.009 |
0.140 |
0.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.431 |
0.118 |
0.229 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1.53 |
0.42 |
0.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.76 |
0.46 |
0.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.05 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.39 |
6.94 |
6.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.31 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
2.823 |
2.823 |
2.823 |
|
Reserves & Surplus |
2.343 |
2.462 |
2.893 |
|
Net
worth |
5.166 |
5.285 |
5.716 |
|
|
|
|
|
|
Long-term borrowings |
12.434 |
11.476 |
11.560 |
|
Short term borrowings |
21.891 |
25.199 |
24.977 |
|
Total
borrowings |
34.325 |
36.675 |
36.537 |
|
Debt/Equity ratio |
6.644 |
6.939 |
6.392 |
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) |
|
Turnover |
88.711 |
65.948 |
81.399 |
|
|
|
(25.660) |
23.429 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Turnover |
88.711 |
65.948 |
81.399 |
|
Profit |
0.229 |
0.118 |
0.431 |
|
|
0.26% |
0.18% |
0.53% |
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 |
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 |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10167007 |
17/07/2009 |
600,000.00 |
UNION BANK OF INDIA |
SSI BRANCH,, CHEEMA CHOWK, LUDHIANA, PUNJAB
- 141001, INDIA |
A65884884 |
|
2 |
90169166 |
21/01/1999 |
200,000.00 |
UNION BANK OF INDIA |
SSI BR. CHEEMA CHOWK, LUDHIANA, PUNJAB,
INDIA |
- |
|
3 |
90168990 |
17/12/1997 |
380,000.00 |
UNION BANK OF INDIA |
SSI BR. CHEEMA CHOWK, LUDHIANA, PUNJAB,
INDIA |
- |
|
4 |
90168868 |
17/12/1997 * |
1,000,000.00 |
UNION BANK OF INDIA |
SSI BR. CHEEMA CHOWK, LUDHIANA, PUNJAB,
INDIA |
- |
|
5 |
90168794 |
23/01/2012 * |
20,892,000.00 |
UNION BANK OF INDIA |
SSI BRANCH, CHEEMA CHOWK, LUDHIANA, PUNJAB
- 141003, INDIA |
B32260705 |
|
6 |
90167367 |
08/01/1996 |
200,000.00 |
UNION BANK OF INDIA |
SSI BR. CHEEMA CHOWK, LUDHIANA, PUNJAB,
INDIA |
- |
|
7 |
90167407 |
15/12/1997 * |
200,000.00 |
UNION BANK OF INDIA |
SSI BR. CHEEMA CHOWK, LUDHIANA, PUNJAB,
INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From Directors and Share Holders |
11.560 |
11.476 |
|
SHORT TERM BORROWINGS |
|
|
|
Hero Cycles Private Limited - Ludhiana |
0.000 |
0.400 |
|
|
|
|
|
Total |
11.560 |
11.876 |
FINANCIAL RESULTS
During the year under
consideration and the Company has achieved a Turnover of Rs.81.399 Million
(Prev. Year Rs.65.948 Million). The Company has earned a Net Profit of Rs.0.440
Million (Prev. Year Rs.0.258 Million) after charging Depreciation and Interest.
The Directors are hopeful to achieve better results in the coming years.
FIXED ASSETS:
· Building
· Furniture and Fixture
· Land
· Vehicle
· Air Conditioner
· Generator Set
· Office Equipments
· Computers
· Security Systems
· Other Equipment
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. 64.05 |
|
|
1 |
Rs. 99.04 |
|
Euro |
1 |
Rs. 71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
MAN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.