MIRA INFORM REPORT
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Report No. : |
321560 |
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Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
FINEPAC STRUCTURES PRIVATE LIMITED |
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Registered
Office : |
S Block, J-25, MIDC, Bhosari, Pune – 411026, Maharashtra |
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Tel. No.: |
91-20-66120661 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.03.1994 |
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Com. Reg. No.: |
11-077167 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.954 Million |
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CIN No.: [Company Identification
No.] |
U51909MH1994PTC077167 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Column packing (structured packing, random packing), Column internal, Distillation trays(Sieve trays, bubble cap, floating valve and fixed valve) Process Columns, Heat Exchangers, Pusher Centrifuges, Static Mixers etc. |
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No. of Employees
: |
62 (Approximately) [75 Contract] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 213000 |
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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. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered normal for small to mediocre 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 |
|
Very High |
C1 |
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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. Praveen |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-20-66120661 |
|
Date : |
07.05.2015 |
LOCATIONS
|
Registered Office : |
S Block, J-25, MIDC, Bhosari, Pune – 411026, Maharashtra, India |
|
Tel. No.: |
91-20-66120661/ 66120665 |
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Fax No.: |
91-20-27119512. |
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E-Mail : |
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|
Website : |
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Mumbai Office : |
1, 2nd Floor, Navjivan Scoiety Bldg No.3, Lamington Road, Mumbai - 400008, Maharashtra, India |
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Tel. No.: |
91-22-32953180 |
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Fax No.: |
91-22-66648424 |
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|
|
|
Factory : |
S 92, MIDC, Bhosari, Pune – 411026, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Suhas Nanasaheb Wakchaure |
|
Designation : |
Managing director |
|
Address : |
Shantiban Cooperative Housing Society, Plot No. 12, Near Mahatma
Soceity, Kothrud, Pune – 411029, Maharashtra, India |
|
Date of Birth/Age : |
28.07.1960 |
|
Date of Appointment : |
18.03.1994 |
|
DIN No.: |
01130754 |
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|
|
|
Name : |
Mrs. Madhuri Suhas Wakchaure |
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Designation : |
Director |
|
Address : |
Shantiban Cooperative Housing Society, Plot No. 12, Near Mahatma
Soceity, Kothrud, Pune – 411029, Maharashtra, India |
|
Date of Birth/Age : |
23.01.1965 |
|
Date of Appointment : |
31.01.2012 |
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DIN No.: |
05173784 |
KEY EXECUTIVES
|
Name : |
Mr. Praveen |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Madhuri Suhas Wakchaure jointly with Suhas Nanasaheb Wakchaure |
118669 |
30.01 |
|
Suhas Nanasaheb Wakchaure jointly with Madhuri Suhas Wakchaure |
276771 |
69.99 |
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|
|
|
|
Total |
395440 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Column packing (structured packing, random packing), Column internal, Distillation trays(Sieve trays, bubble cap, floating valve and fixed valve) Process Columns, Heat Exchangers, Pusher Centrifuges, Static Mixers etc. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· UAE · Iran · Singapore · UK · USA · Switzerland |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Sweden · Germany · UK · China |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
62 (Approximately) [75 Contract] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vijay Mayabhate and Associates Chartered Accountants |
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Address : |
10 A Parnakuti Appartment, Anantkrupa Society, Near Janata Sahakari
Bank, Paud Road, Pune – 411038, Maharashtra, India |
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Tel. No.: |
91-20-25440182 |
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Income-tax
PAN of auditor or auditor's firm : |
AAKFV6865C |
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Memberships : |
-- |
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Collaborators : |
-- |
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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 |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
395,440 |
Equity Shares |
Rs. 10/- each |
Rs. 3.954 Million |
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|
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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 |
3.954 |
3.954 |
3.954 |
|
(b) Reserves & Surplus |
70.521 |
51.164 |
32.586 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
74.475 |
55.118 |
36.540 |
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|
|
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(3)
Non-Current Liabilities |
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|
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|
(a) Long-term borrowings |
18.560 |
3.915 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
6.341 |
4.791 |
4.633 |
|
(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) |
24.901 |
8.706 |
4.633 |
|
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(4) Current Liabilities |
|
|
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(a)
Short term borrowings |
29.957 |
23.200 |
19.498 |
|
(b)
Trade payables |
24.858 |
28.957 |
8.859 |
|
(c)
Other current liabilities |
6.629 |
20.727 |
49.256 |
|
(d)
Short-term provisions |
12.184 |
13.985 |
3.973 |
|
Total
Current Liabilities (4) |
73.628 |
86.869 |
81.586 |
|
|
|
|
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TOTAL |
173.004 |
150.693 |
122.759 |
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II.
ASSETS |
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|
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(1) Non-current assets |
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(a)
Fixed Assets |
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(i)
Tangible assets |
77.357 |
46.435 |
31.480 |
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(ii)
Intangible Assets |
0.690 |
0.713 |
0.471 |
|
(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 |
0.027 |
0.027 |
0.027 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
12.713 |
11.872 |
1.427 |
|
(e)
Other Non-current assets |
0.231 |
0.150 |
0.143 |
|
Total
Non-Current Assets |
91.018 |
59.197 |
33.548 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
29.538 |
35.244 |
30.418 |
|
(c)
Trade receivables |
16.834 |
32.974 |
13.269 |
|
(d)
Cash and cash equivalents |
22.436 |
10.801 |
9.983 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
13.178 |
12.477 |
35.541 |
|
Total
Current Assets |
81.986 |
91.496 |
89.211 |
|
|
|
|
|
|
TOTAL |
173.004 |
150.693 |
122.759 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
244.766 |
292.761 |
166.044 |
|
|
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|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
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TOTAL |
212.491 |
260.209 |
161.846 |
|
|
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
32.275 |
32.552 |
4.198 |
|
|
|
|
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|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.613 |
3.082 |
2.585 |
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|
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|
PROFIT BEFORE
TAX |
28.662 |
29.470 |
1.613 |
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Less |
TAX |
7.670 |
9.457 |
0.673 |
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PROFIT AFTER TAX
|
20.992 |
20.013 |
0.940 |
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EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB Value] |
76.758 |
153.087 |
NA |
|
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|
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|
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|
Earnings Per
Share (Rs.) |
53.09 |
50.61 |
2.38 |
|
|
PARTICULARS |
|
31.03.2016 Estimated |
31.03.2015 Estimated |
|
Sales Turnover (Approximately) |
|
300.000 |
270.000 |
|
|
|
|
|
The above information has been parted by Mr. Praveen (Senior Accountant)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.57 |
19.56 |
1.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.53 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.65 |
0.49 |
0.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.05 |
1.09 |
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 |
3.954 |
3.954 |
3.954 |
|
Reserves & Surplus |
32.586 |
51.164 |
70.521 |
|
Net
worth |
36.540 |
55.118 |
74.475 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
3.915 |
18.560 |
|
Short term borrowings |
19.498 |
23.200 |
29.957 |
|
Total
borrowings |
19.498 |
27.115 |
48.517 |
|
Debt/Equity
ratio |
0.534 |
0.492 |
0.651 |
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) |
|
Total Income |
166.044 |
292.761 |
244.766 |
|
|
|
76.315 |
-16.394 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
166.044 |
292.761 |
244.766 |
|
Profit |
0.940 |
20.013 |
20.992 |
|
|
0.57% |
6.84% |
8.58% |
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 |
Yes |
|
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) |
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10450633 |
30/08/2013 |
22,500,000.00 |
DENA BANK BHOSARI INDUSTRIAL ESTATE BRANCH |
MANGUDKAR'S HOSPITAL BUILDING, PUNE-NASHIK HIGHWAY, PUNE, MAHARASHTRA - 411039, INDIA |
B85579639 |
|
2 |
10181892 |
12/03/2012 * |
29,000,000.00 |
DENA BANK |
BHOSARI BRANCH, DR.
MANGUDKAR BUILDING, NATIONAL |
B37748522 |
|
3 |
90088916 |
01/02/2005 |
4,500,000.00 |
DENA BANK |
BHOSARI BRANCH, PUNE, MAHARASHTRA - 411026, INDIA |
- |
|
4 |
90093003 |
21/09/2005 * |
18,000,000.00 |
DENA BANK |
BHOSARI BRANCH, PUNE, MAHARASHTRA - 411026, INDIA |
- |
|
5 |
90092730 |
09/08/2004 |
9,000,000.00 |
S.B.I. FACTORS AND
COMMERCIAL SERVICES PRIVATE LIMITED |
172 ; MAKER TOWER,
F WING ; CUFF PARADE ROAD, MUM |
- |
|
6 |
90091909 |
15/07/2002 * |
1,000,000.00 |
DENA BANK |
BHOSARI BRANCH, PUNE, MAHARASHTRA - 411026, INDIA |
- |
|
7 |
90091695 |
01/11/2001 |
1,000,000.00 |
DENA BANK |
BHOSARI J.E. BRANCH, PUNE, MAHARASHTRA - 411039, INDIA |
- |
|
8 |
90091564 |
25/06/2001 * |
2,825,000.00 |
DENA BANK |
BHOSARI BRANCH, PUNE, MAHARASHTRA - 411026, INDIA |
- |
|
9 |
90091378 |
12/10/2000 |
900,000.00 |
DENA BANK |
BHOSARI BRANCH, PUNE, MAHARASHTRA - 411026, INDIA |
- |
|
10 |
90091078 |
08/12/2014 * |
40,000,000.00 |
DENA BANK |
BHOSARI BR, DR. MANGUDKAR BLDG,, PUNE NASHIK ROAD, BHOSARI,, PUNE, MAHARASHTRA - 411039, INDIA |
C44698231 |
|
11 |
90090110 |
09/12/2014 * |
28,000,000.00 |
DENA BANK |
BHOSARI BR, DR. MANGUDKAR BLDG,, NATIONAL HIGHWAY, BHOSARI, PUNE, MAHARASHTRA - 411039, INDIA |
C44697274 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
3.100 |
0.944 |
|
|
|
|
|
Total |
3.100 |
0.944 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from 22, Gauri
Shankar, Shri Shivaji Housing Society, Pune - 411016, Maharashtra, India to the
present address w.e.f.05.03.2007.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
|
|
|
|
Guarantees |
5.571 |
0.000 |
|
|
|
|
FIXED ASSETS:
· Land
· Buildings
· Plant and Machinery
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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 : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.