MIRA INFORM REPORT
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Report No. : |
322023 |
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Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
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Name : |
RAJA SPINNING AND WEAVING MILLS PRIVATE LIMITED |
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Registered
Office : |
323, Industrial Area, Ludhiana – 141001, Punjab |
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Tel. No.: |
91-161-4602073 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.04.2000 |
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Com. Reg. No.: |
16-023650 |
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Capital Investment
/ Paid-up Capital : |
Rs.4.050 Million |
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CIN No.: [Company Identification
No.] |
U17219PB2000PTC023650 |
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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 of Textiles. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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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 46000 |
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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. The company has shown a growth in its turnover and profit of the company
during FY 2014. General financial position of the company is normal and
acceptable for business dealings. 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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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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 |
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. Ranveer Sood |
|
Designation : |
Accountant |
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Contact No.: |
91-9876302073 |
|
Date : |
11.05.2015 |
LOCATIONS
|
Registered Office/ Factory : |
323, Industrial Area, Ludhiana – 141001, Punjab, India |
|
Tel. No.: |
91-161-4602073 |
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Mobile No.: |
91-9876302073 (Mr. Ranveer) |
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Fax No.: |
Not Available |
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E-Mail : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
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Locality : |
Residential |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Harpreet Kaur |
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Designation : |
Director |
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Address : |
118-B, Model Town Extension, Ludhiana – 141002, Punjab, India |
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Date of Birth/Age : |
09.08.1968 |
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Date of Appointment : |
26.04.2000 |
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DIN No.: |
01602553 |
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Name : |
Mr. Kuljit Singh |
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Designation : |
Director |
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Address : |
118-B, Model Town Extension, Ludhiana – 141002, Punjab, India |
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Date of Birth/Age : |
08.09.1968 |
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Date of Appointment : |
31.07.2013 |
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DIN No.: |
01602779 |
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Other Directorship:
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Name : |
Mr. Jasvinder Singh |
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Designation : |
Director |
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Address : |
118-B, Model Town Extension, Ludhiana – 141002, Punjab, India |
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Date of Birth/Age : |
18.07.1972 |
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Date of Appointment : |
26.04.2000 |
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DIN No.: |
01606928 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Ranveer Sood |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
S. Jasvinder Singh |
252828 |
62.43 |
|
Gursharan Kaur |
25100 |
6.20 |
|
Harpreet Kaur |
50100 |
12.37 |
|
Kurvinder Singh Chawla |
21007 |
5.19 |
|
Kuljit Singh Chawla |
55965 |
13.82 |
|
Total |
405000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Textiles. |
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Products : |
Textiles |
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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 : |
Not Divulged |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Vijay Aneja and Associates Chartered Accountants |
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Address : |
Office No. 3, 4th Floor, Noble Enclave, Bhaibala Chowk,
Ludhiana – 141001, Punjab, India |
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PAN No.: |
AASPA9655R |
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Collaborators : |
Not Divulged |
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Membership : |
Not Divulged |
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Associate Concern : |
·
Lovely Fabrics and Processors Private Limited ·
Chawla Textiles and Industries Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
405000 |
Equity Shares |
Rs.10/- each |
Rs.4.050 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 |
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|
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|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.050 |
4.050 |
4.050 |
|
(b) Reserves & Surplus |
12.081 |
10.616 |
10.028 |
|
(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 |
0.550 |
0.550 |
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Total
Shareholders’ Funds (1) + (2) |
16.131 |
15.216 |
14.628 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
12.955 |
10.367 |
13.367 |
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(b) Deferred tax liabilities (Net) |
3.895 |
3.869 |
3.738 |
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(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) |
16.850 |
14.236 |
17.105 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
6.797 |
5.396 |
5.999 |
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(b) Trade
payables |
39.316 |
4.881 |
13.875 |
|
(c) Other current
liabilities |
2.674 |
2.583 |
3.955 |
|
(d) Short-term
provisions |
0.356 |
0.205 |
0.365 |
|
Total Current
Liabilities (4) |
49.143 |
13.065 |
24.194 |
|
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|
|
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TOTAL |
82.124 |
42.517 |
55.927 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
29.166 |
24.106 |
26.268 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(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 |
0.955 |
1.055 |
0.955 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
30.121 |
25.161 |
27.223 |
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
22.037 |
8.899 |
14.160 |
|
(c) Trade
receivables |
27.163 |
6.443 |
11.525 |
|
(d) Cash
and cash equivalents |
1.171 |
0.724 |
1.765 |
|
(e)
Short-term loans and advances |
1.036 |
1.039 |
0.942 |
|
(f) Other
current assets |
0.596 |
0.251 |
0.312 |
|
Total
Current Assets |
52.003 |
17.356 |
28.704 |
|
|
|
|
|
|
TOTAL |
82.124 |
42.517 |
55.927 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
84.161 |
36.725 |
65.985 |
|
|
|
Other Income |
0.715 |
0.823 |
1.709 |
|
|
|
TOTAL (A) |
84.876 |
37.548 |
67.694 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
45.847 |
12.389 |
27.491 |
|
|
|
Purchase of Stock-in-trade |
26.944 |
2.330 |
16.615 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(13.137) |
5.261 |
(0.346) |
|
|
|
Employee Benefits Expenses |
2.597 |
1.762 |
1.682 |
|
|
|
Other Expenses |
17.817 |
11.228 |
18.199 |
|
|
|
TOTAL (B) |
80.068 |
32.970 |
63.641 |
|
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|
|
|
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|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.808 |
4.578 |
4.053 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.995 |
1.881 |
2.060 |
|
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|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
3.813 |
2.697 |
1.993 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1.980 |
1.769 |
1.903 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G)
|
1.833 |
0.928 |
0.090 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
0.382 |
0.337 |
0.578 |
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|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
1.451 |
0.591 |
(0.488) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.58 |
1.46 |
(1.20) |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
94.000 |
The above information has been parted by Mr. Ranveer
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
1.72 |
1.61 |
-0.74 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.71 |
12.47 |
6.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
2.23 |
2.18 |
0.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.06 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.22 |
1.04 |
1.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.33 |
1.19 |
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 |
4.050 |
4.050 |
4.050 |
|
Reserves & Surplus |
10.028 |
10.616 |
12.081 |
|
Share Application money pending
allotment |
0.550 |
0.550 |
0.000 |
|
Net
worth |
14.628 |
15.216 |
16.131 |
|
|
|
|
|
|
long-term borrowings |
13.367 |
10.367 |
12.955 |
|
Short term borrowings |
5.999 |
5.396 |
6.797 |
|
Total
borrowings |
19.366 |
15.763 |
19.752 |
|
Debt/Equity
ratio |
1.324 |
1.036 |
1.224 |
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 |
65.985 |
36.725 |
84.161 |
|
|
|
-44.343 |
129.165 |
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
|
65.985 |
36.725 |
84.161 |
|
Profit |
(0.488) |
0.591 |
1.451 |
|
|
(0.74%) |
1.61% |
1.72% |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
WORKING OF THE COMPANY
During the year subject’s
total income increased from Rs.37.548 Million to Rs.84.876 Million (rise in
total income by 126.04%). Further the company earned net profits of Rs.1.833
Million as compared to net profits of Rs.0.928 Million earned during the
previous year. Further subject expects better results during coming years.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Loans and
advances from related parties |
11.955 |
10.367 |
|
Loans and advances
from others |
1.000 |
00.000 |
|
|
|
|
|
Total |
12.955 |
10.367 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10461673 |
06/11/2013 |
5,000,000.00 |
Union Bank of India |
SSI Branch, Cheema Chowk, Ludhiana, Punjab - 141003, India |
B90120817 |
|
2 |
10461971 |
06/11/2013 |
5,000,000.00 |
Union Bank of India |
SSI Branch, Cheema Chowk, Ludhiana, Punjab - 141003, India |
B90156894 |
|
3 |
10284426 |
07/10/2010 |
8,000,000.00 |
Union Bank of India |
SSI Branch, Cheema Chowk, Ludhiana, Punjab - 141003, India |
B02698231 |
|
4 |
90176194 |
08/02/2005 |
650,000.00 |
Union Bank of India |
SSI Branch, Cheema Chowk, Ludhiana, Punjab - 141003, India |
- |
|
5 |
90310504 |
08/02/2005 |
650,000.00 |
Union Bank of India |
SSI Branch, Cheema Chowk, Ludhiana, Punjab - 141003, India |
- |
|
6 |
90176155 |
22/06/2004 |
5,500,000.00 |
Union Bank of India |
SSI Branch, Cheema Chowk, Ludhiana, Punjab - 141003, India |
- |
|
7 |
90309618 |
22/06/2004 |
5,500,000.00 |
Union Bank of India |
SSI Branch, Cheema Chowk, Ludhiana, Punjab - 141003, India |
- |
|
8 |
90174107 |
20/09/2014 * |
9,500,000.00 |
Union Bank of India |
SSI Branch, Cheema Chowk, Ludhiana, Punjab - 141003, India |
C43682517 |
*Date of modification Charges
FIXED ASSETS:
·
Property
·
Pager
·
Car
·
Machinery
·
Generator Set
·
Electric Installation
·
Furniture and Fixture
·
Fire Extinguisher
·
Weigh Bridge
·
Air Compressor
·
Air Conditioner
·
Four Wheeler
·
Office Equipment
·
Tempo
·
Mobile Phone
·
Telephone
·
Scooter
·
Trolley
·
Computer Equipment
·
Computer Software
·
Transformer
·
Fan
·
Invertor
·
Water Filter
·
Cooler
·
Vacuum Cleaner
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.63.85 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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.