MIRA INFORM REPORT

 

 

Report No. :

323319

Report Date :

22.05.2015

 

IDENTIFICATION DETAILS

 

Name :

GUJARAT WATER SUPPLY AND SEWERAGE BOARD

 

 

Registered Office :

1st floor, “Jal Seva Bhavan, Sector-10/A, Opp. Air Force Station Gandhinagar – 382010, Gujarat

Tel. No.:

91-79-23251050/23220857

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

Not Divulged

 

 

Capital Investment / Paid-up Capital :

Rs. 12.500 Million

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

State Government Organization

 

 

Line of Business :

Subject is engaged in providing water supply and sanitation services.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1000000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a statutory body established under Gujarat Act No.18 of 1979, for rapid development and proper regulation of water supply and sewerage services in the State of Gujarat. It is having a satisfactory track record.

 

Mr. B.B. Chouhan denied to disclose any information to us.

 

As per indirect source we found that subject is set up by the State Government for Development, Regulation and Control of the Drinking water sector in the state.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

In view of being a part of Gujarat government, the subject can be considered 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 DENIED BY

 

Name :

Mr. B.B. Chouhan

Designation :

Senior Manager

Contact No.:

91-9978406513

Date :

18.05.2015

 

 

LOCATIONS

 

Registered Office :

1st floor, “Jal Seva Bhavan, Sector-10/A, Opp. Air Force Station Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23251050/23220857

Mobile No.:

91-9978406513 (Mr. B.B. Chouhan)

Fax No.:

91-79-23251085

 

DIRECTORS

 

Name :

Mr. V. S. Gadhavi

Designation :

IAS Officer

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23220857 I 23222056

Fax No :

91-79-23222684 I 23223261

 

 

Name :

Mr. V. V. Narayan

Designation :

Working Director

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23220857 I 23222056

Fax No :

91-79-23222684 I 23223261

 

 

Name :

Mr. P. J. Gadani

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91 -79-2322241 7 I 23222423

Fax No :

91-79-23224397

 

 

Name :

Mr. A. G. Bapat

Designation :

Working Director

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91 -79-2322241 7 I 23222423

Fax No :

91-79-23224397

 

 

Name :

Mr. H. K. Dharmadarshi

Designation :

Finance Director

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23229856 I 23222263

Fax No :

91-79-23222684

 

 

Name :

Mr. B. B. Chouhan

Designation :

Senior Manager

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23224530 / 23222263

Fax No :

91-79-23222684

 

 

Name :

Mr. D. P. Manavadariya

Designation :

Finance Director

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23222263

Fax No :

91 -79-23222684

 

 

Name :

Mr. R. B. Darji

Designation :

Senior Manager

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23222263/ 23222684

 

 

Name :

Mr. S. K. Vyas

Designation :

Senior Engineer

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23230617/ 23225979

Fax No :

91-79-23222684

 

 

Name :

Mr. R. K. Kothari

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23230617 123225979

Fax No :

91-79-23222684

 

 

Name :

Mr. J. S. Darj

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-2323061 7 / 23225979

Fax No :

91-79-23222684

 

 

Name :

Mr. N. M. Patel

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23222720 / 23220859

Fax No :

91-79-23222684

 

 

Name :

Mr. D. M. Makvana

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23225972 /23225979

Fax No :

91-79-23222684

 

 

Name :

Mr. N. M. Dalal

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23224972 / 23225979

Fax No :

91-79-23222684

 

 

Name :

Mr. K. V. Priyani

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23225972 / 23225979

Fax No :

91-79-23222684

 

 

Name :

Mr. B. T. Patel

Designation :

Senior Engineer

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23230619 / 23220855

Fax No :

91-79-23230623

 

 

Name :

Mr. K. R. Shah

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23220855 / 23222547

Fax No :

91-79-23230623

 

 

Name :

Mr. R. M. Sutar

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23222755 /23222547

Fax No :

91-79-23222684

 

 

Name :

Mr. H. M. Patel

Address :

Ja. Aa. Workshop, Yantric Vibhag, Sector - 30, Gandhinagar – 382010, Gujarat, India

 

 

Name :

Mr. A. R. Bhadoriya

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

 

 

Name :

Mr. M. H. Patel

Address :

New Sachivalay, Gandhinagar – 382010, Gujarat, India

 

 

Name :

Mr. S. K. Vyas

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23225659 / 23225972

Fax No :

91-79-23222684

 

 

Name :

Mr. D. S. Pandya

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23225651 / 23225979

Fax No :

91-79-23222684

 

 

Name :

Mr. S. C. Patel

Designation :

Senior Engineer

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23225659 / 23222547

Fax No :

91-79-23222684

 

 

Name :

Mr. A. R. Mrrnkad

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23222547 / 23225972

Fax No :

91-79-23222684

 

 

Name :

Mr. A. D. Rawal

Designation :

System Manager

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23223218 / 23522547

Fax No :

91-79-23222684

 

 

Name :

Mr. R. N. Shukla

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23222521 / 23222547

Fax No :

91-79-23222684

 

 

Name :

Mr. I. M. Patel

Designation :

G.O. Hydrologist

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23222521 / 23222547

Fax No :

91-79-23222684

 

 

Name :

Mr. D. K. Pandya

Designation :

Hydrologist

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

Tel. No.:

91-79-23222521 /23222547

Fax No :

91-79-23222684

 

 

Name :

Mr. O. M.  Bihari

Designation :

Hydrologist

Address :

" Jal Seva Bhavan ", Opp. Air Force Station, Sector - IOA, Gandhinagar – 382010, Gujarat, India

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in providing water supply and sanitation services.

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Not Divulged

Branch

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

Not Divulged

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Divulged

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Capital Investment :

 

Contribution from Government of Gujarat :

Rs. 12.500 Million

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

 

 

31.03.2014

31.03.2013

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

12.500

12.500

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

638.462

636.262

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

650.962

648.762

LOAN FUNDS

 

 

 

1] Secured Loans

 

0.000

0.000

2] Unsecured Loans

 

1437.758

1437.758

3] Deposits

 

27516.943

33299.020

TOTAL BORROWING

 

25954.701

34736.778

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

29605.663

35385.540

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

382.572

373.383

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.000

0.000

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 
2314.135
2229.150

 

Sundry Debtors
 
3904.187
3910.874

 

Cash & Bank Balances
 
16443.588
15581.892

 

Other Current Assets
 
1136.995
1835.128

 

Loans & Advances
 
6771.398
12546.222

Total Current Assets
 
30570.303
36103.266

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors
 
 
 

 

Other Current Liabilities
 
6116.951
5381.324

 

Provisions
 
217.510
177.606

Total Current Liabilities
 
6334.461
5558.930

Net Current Assets
 
24235.842
30544.336

 

 

 

 

MISCELLANEOUS EXPENSES

 

4987.249

4467.821

 

 

 

 

TOTAL

 

29605.663

35385.540

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

 

31.03.2013

 

SALES

 

 

 

 

 

Income from Operations

 

1610.556

1357.221

 

 

Grant

 

4912.493

4279.834

 

 

Other Income

 

1050.307

1388.615

 

 

TOTAL                                    

 

7573.356

7025.670

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Payment to and Provisions for Employees salary

 

1908.659

1863.656

 

 

Expenditure on survey and investigation

 

1.190

1.137

 

 

Operation and Maintenance of:

 

 

 

 

 

a) Water Supply Schemes

 

5873.045

4376.909

 

 

b) Laboratory

 

0.303

0.083

 

 

Administrative and other  expenses

 

296.319

265.294

 

 

TOTAL                                    

 

8079.516

6507.079

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

 

(506.160)

518.591

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

 

11.414

11.843

 

 

 

 

 

 

PROFIT BEFORE TAX

 

(517.574)

506.748

 

 

 

 

 

Less

TAX                                                                 

 

1.854

28.682

 

 

 

 

 

 

PROFIT AFTER TAX

 

(519.428)

478.066

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)
 

(6.85)

6.80

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

(1.69)

1.40

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

(0.79)

0.78

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 
 

39.87

53.54

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

4.83

6.49

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Share Capital

12.500

12.500

Reserves & Surplus

636.262

638.462

Net worth

648.762

650.962

 

 

 

Unsecured Loan

1437.758

1437.758

Deposits

33299.020

27516.943

Total borrowings

34736.778

28954.701

Debt/Equity ratio

53.543

44.480

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Total Revenue

7025.670

7573.356

 

 

7.795

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

7025.670

7573.356

Profit

478.066

(519.428)

 

6.80%

(6.86%)

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

No

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

No

10

Date of Birth of Proprietor / Partners / Directors

No

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

No

21

Banking facility details

No

22

Conduct of the banking account

----

23

Financials, if provided

-----

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last two years

Yes

27

Reasons for variation <> 20%

-----

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

No

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

-----

33

Market information

-----

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 63.70

UK Pound

1

Rs. 98.92

Euro

1

Rs. 70.61

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAS

 

 

Analysis Done by :

KMN

 

 

Report Prepared by :

JYO

 

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

4

--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

NO

--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

 

44

 

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

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NB

                                       New Business

 

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PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.