MIRA INFORM REPORT

 

 

Report No. :

324183

Report Date :

25.05.2015

 

IDENTIFICATION DETAILS

 

Name :

SHREE KAMDHENU ELECTRONICS PRIVATE LIMITED

 

 

Registered Office :

102, Shivam Complex, Nana Bazar, Vallabh, Vidyanagar, District Anand - 388120, Gujarat

Tel. No.:

91-2692-235390

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

13.12.1996

 

 

Com. Reg. No.:

04-041425

 

 

Capital Investment / Paid-up Capital :

Rs. 3.070 Million

 

 

CIN No.:

[Company Identification No.]

U31909GJ1996PTC041425

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BRDS03817C

 

 

PAN No.:

[Permanent Account No.]

AABCS3512P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Automatic Milk Collection System, Electronic Milk Weighing Scale, Milk Analyzer, etc. and Trader of Computer and Printers allied parts.

 

 

No. of Employees :

20 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is established on 1996 and is manufacture of automatic milk collection system, data processor, milk analyzer and providing services like Akashganga (software).

 

Subject is established company and is having satisfactory track record.

 

From the financial 2014, company has reported top line growth in sales at 22.52%. Its profitability stood at 3.66% backed by debt to equity at 0.80 times.

 

Rating continue to take comfort on company’s significant growth in income from FY2013 to 2014 as well as experienced of its promoters.

 

The trade relations are reported to be fair. Business is active and payments are usually correct.

 

Company can be considered for business with its 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.

 

 

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. Sachin Shah

Designation :

Director

Contact No.:

91-9427610353

Date :

23.05.2015

 

 

LOCATIONS

 

Registered/ Corporate Office :

102, Shivam Complex, Nana Bazar, Vallabh, Vidyanagar, District Anand - 388120, Gujarat, India

Tel. No.:

91-2692-235390

Mobile No.:

91-9427610353 (Mr. Sachin Shah)

Fax No.:

91-2692-232626

E-Mail :

info@akashganga.in

Website :

http://www.akashganga.in

 

 

Factory :

I.T.I. Campus, Near Samarkha Chokdi, Opposite BBQ Hotel, At Sadanapura, Anand – 388001, Gujarat, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Sachin Navnitlal Shah

Designation :

Director

Address :

403, Krupalu Residency, Near Mahadev Area, Vallabh Vidyanagar, District Anand - 388120, Gujarat, India

Date of Birth/Age :

31.07.1969

Date of Appointment :

13.12.1996

DIN No.:

00281039

 

 

Name :

Mr. Alpesh Chandrakant Shah

Designation :

Director

Address :

3, Professors Society, Sheetal Building, Vallabh Vidyanagar, Anand – 388120, Gujarat, India

Date of Birth/Age :

01.06.1971

Date of Appointment :

01.05.2003

DIN No.:

00281102

 

 

Name :

Mr. Sulax Chandrakant Shah

Designation :

Director

Address :

3, Professors Society, Sheetal Building, Vallabh Vidyanagar, Anand – 388120, Gujarat, India

Date of Birth/Age :

12.01.1965

Date of Appointment :

01.05.2003

DIN No.:

00382279

 

 

Name :

Mr. Ujval Shrinivas Parghi

Designation :

Director

Address :

B/1, Yogiraj Soceity, Behind ICY Spicy Restaurant, Vallabh Vidyanagar, Anand – 388120, Gujarat, India

Date of Birth/Age :

10.09.1971

Date of Appointment :

01.05.2003

DIN No.:

00280982

 

 

Name :

Mr. Mani Swaminathan Iyer

Designation :

Director

Address :

30, Green Park Bunglows, Near HDFC Bank, Bopal Road, Ambli, Ahmedabad – 380054, Gujarat, India

Date of Birth/Age :

26.12.1954

Date of Appointment :

18.08.2010

DIN No.:

00130842

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

14.29

Bodies corporate

15.96

Directors or relatives of directors

69.75

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Automatic Milk Collection System, Electronic Milk Weighing Scale, Milk Analyzer, etc. and Trader of Computer and Printers allied parts.

 

 

Brand Names :

"AKASHGANGA"

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Nepal

·         Africa

·         Vietnam

 

 

Imports :

 

Products :

Raw Material

Countries :

Bulgaria

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Ingram Micro, Vadodara

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers, Retailers, End Users and Manufacturer

 

Reference:

Gujarat Co-operative Milk Marketing Federation Limited, Gujarat

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

20 (Approximately)

 

 

Bankers :

Bank Name:

State Bank of India

Branch:

R A S M E City Credit Centre Anand, V-Square Commercial Complex, Near Bhai Kaka Statute, Vallabh Vidya Nagar - 388120, Gujarat, India

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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Axis Bank Limited

·         Union Bank of India

 

 

Facilities :

 

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loans

 

 

From Banks

State Bank of India CC Account

9.309

3.199

State Bank of India Etios Car Loan

0.415

0.358

State Bank of India Alto Car Loan

0.261

0.000

SHORT TERM BORROWINGS

 

 

SBI Car Loan Installment

0.000

0.187

Axis Bank Limited – CA No. 3469

0.285

0.000

 

 

 

Total

 

10.270

3.744

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Ashwin S. Shah and Company

Chartered Accountants

Address :

508, Kishor Plaza, Station Road, Anand – 388001, Gujarat, India

Tel. No.:

91-2692-254978

Income-tax PAN of auditor or auditor's firm :

AHKPS0215L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Other Related Party :

Grassroot Business Fund USA

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

400,000

Equity Shares

Rs. 10/- each

Rs. 4.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

306,958

Equity Shares

Rs. 10/- each

Rs. 3.070 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

3.070

3.070

3.070

(b) Reserves & Surplus

15.933

12.730

10.991

(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)

19.003

15.800

14.061

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

15.060

8.632

10.727

(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)

15.060

8.632

10.727

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.310

0.191

0.000

(b) Trade payables

5.737

4.605

10.058

(c) Other current liabilities

0.525

0.306

0.361

(d) Short-term provisions

2.536

1.751

1.701

Total Current Liabilities (4)

9.108

6.853

12.120

 

 

 

 

TOTAL

43.171

31.285

36.908

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1.956

1.408

1.519

(ii) Intangible Assets

0.057

0.057

0.057

(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

0.500

0.500

0.600

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2.513

1.965

2.176

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

2.074

0.931

1.139

(b) Inventories

7.811

5.877

9.026

(c) Trade receivables

27.715

21.362

23.186

(d) Cash and cash equivalents

0.612

0.324

0.715

(e) Short-term loans and advances

2.417

0.800

0.642

(f) Other current assets

0.029

0.026

0.024

Total Current Assets

40.658

29.320

34.732

 

 

 

 

TOTAL

43.171

31.285

36.908

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations

87.426

71.356

58.563

 

 

Other Income

0.383

0.270

0.167

 

 

TOTAL                                     (A)

87.809

71.626

58.730

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

42.827

35.252

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

2.237

0.229

 

 

Employees benefits expense

 

11.229

9.270

 

 

Other expenses

 

11.033

10.705

 

 

TOTAL                                     (B)

81.434

67.326

55.456

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

6.375

4.300

3.274

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

1.222

1.332

1.239

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

5.153

2.968

2.035

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.502

0.399

0.215

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

4.651

2.569

1.820

 

 

 

 

 

Less

TAX                                                                  (H)

1.448

0.830

0.556

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

3.203

1.739

1.264

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

2.081

3.811

6.458

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

9.462

0.973

5.925

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

 

 

Basic

--

5.66

4.17

 

Diluted

--

6.23

4.74

 

 

PARTICULARS

 

 

31.03.2016

31.03.2015

Sales Turnover (Approximately)

 

110.000

75.000

 

 

 

 

 

The above information has been parted by Mr. Sachin Shah (Director)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

0.000

0.000

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

3.66

2.44

2.16

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

7.29

6.03

5.59

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

10.77

8.21

4.93

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.24

0.16

0.13

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.81

0.56

0.76

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

4.46

4.28

2.87

 

 

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

3.070

3.070

3.070

Reserves & Surplus

10.991

12.730

15.933

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

14.061

15.800

19.003

 

 

 

 

Long-term borrowings

10.727

8.632

15.060

Short term borrowings

0.000

0.191

0.310

Total borrowings

10.727

8.823

15.370

Debt/Equity ratio

0.763

0.558

0.809

 

 

 

 

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

58.563

71.356

87.426

 

 

21.845

22.521

 

 

 

 

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

58.563

71.356

87.426

Profit

1.264

1.739

3.203

 

2.16%

2.44%

3.66%

 

 

 

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

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10561179

13/04/2015

22,500,000.00

STATE BANK OF INDIA

RASME CITY CREDIT CENTRE, V SQUARE COMMERCIAL COMPLEX, NEAR BHAIKAKA STATUE, VALLABH VIDHYANAGAR, GUJARAT - 388120, INDIA

C49981434

2

10442079

17/07/2013

284,000.00

STATE BANK OF INDIA

RASME CITY CREDIT CENTRE, V SQUARE COMMERCIAL COMPLEX, NEAR BHAIKAKA STATUE, VALLABH VIDHYANAGAR, GUJARAT - 388120, INDIA

B81707143

3

10306198

13/04/2015 *

12,500,000.00

STATE BANK OF INDIA

RASME CITY CREDIT CENTRE, V SQUARE COMMERCIAL COMPLEX, NEAR BHAIKAKA STATUE, VALLABH VIDHYANAGAR, GUJARAT - 388120, INDIA

C49979149

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

8% Compulsorily Convertible Debenture

5.075

5.075

SHORT TERM BORROWINGS

 

 

Deposits – From Employees

0.025

0.004

 

 

 

Total

 

5.100

5.079

 

 

OPERATIONS

 

The Company has earned Total Revenue of Rs. 87.426 Million from Operations during the year. The Company has earned a net profit before tax of Rs. 4.651 Million during the year due to increase in sales of 22.52% as compared last year. The Company has tied to tap new areas to increase its sales and it is expected that the results of sales efforts will be reaped in the forthcoming years.

 

 

FIXED ASSETS:

 

·         Goodwill

·         Vehicle

·         Office Equipment

·         Machinery

·         Testing Equipment

·         Weight and Scale

·         Computer and Peripherals

·         Software

 

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. 63.57

UK Pound

1

Rs. 99.67

Euro

1

Rs. 70.93

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

46

 

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

 

--

 

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.