MIRA INFORM REPORT
|
Report No. : |
324970 |
|
Report Date : |
29.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
VEEKAY SMELTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No 9, Survey No 921, Industrial Park, Peddapuram – 533437, Andhra
Pradesh |
|
Mobile No.: |
91-7660002797 (Mr. Krishna) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.01.2010 |
|
|
|
|
Com. Reg. No.: |
01-066794 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 19.460 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310AP2010PTC066794 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
VPNV02313D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCV3470H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, producing, melting, converting,
manipulating, treating and to act as agent, broker, buyer, seller, trader,
importer, exporter, distributor etc., to deal in Ferro alloys of all grades
and forms including powder form such as Ferro chrome, silico manganese,
silico calcium, etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 28000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Subject was incorporated in 2010. It is engaged in manufacturing of quality
guaranteed low carbon Ferro alloys at a competitive price for the steel and
other sectors. Company has incurred huge accumulated losses which has eroded the
reserves of the company. As per the financials, accumulated losses as on
31.03.2014 are at Rs. 11.613 Million, where the same was at Rs. 3.415 Million
on 31.03.2013. Trade relations are fair. Business is active Payment terms are
reported to be usually correct. Rating also takes into consideration the vast experience of the
promoters. Subject can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
ICRA |
|
Rating |
Long term rating: B+ (Suspended) |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk. |
|
Date |
September 2014 |
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 DECLINED BY
|
Name : |
Mr. Krishna |
|
Designation : |
Purchase Department |
|
Contact No.: |
91-7660002797 |
|
Date : |
28.05.2015 |
LOCATIONS
|
Registered Office / Works: |
Plot No 9, Survey No 921, Industrial Park, Peddapuram – 533437, Andhra
Pradesh, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-7660002797 (Mr. Krishna) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website: |
DIRECTORS
As on 23.09.2014
|
Name : |
Mr. Vijay Kumar Pasamsivasankara |
|
Designation : |
Director |
|
Address : |
Plot No. 47, 1st Floor, Kusumagajapathi Nagar, Vizianagaram - 535 001, , Andhra Pradesh, India |
|
Date of Birth/Age : |
14.02.1959 |
|
Date of Appointment : |
25.01.2010 |
|
DIN No.: |
00782323 |
|
Election Commission Identity Card No.: |
ADWPP5781C |
|
|
|
|
Name : |
Mrs. Sita Lakshmi Pasam |
|
Designation : |
Director |
|
Address : |
Plot No. 47, 1st Floor, Kusumagajapathi Nagar, Vizianagaram - 535 001, , Andhra Pradesh, India |
|
Date of Birth/Age : |
03.07.1961 |
|
Date of Appointment : |
25.01.2010 |
|
DIN No.: |
01721426 |
|
Election Commission Identity Card No.: |
ABWPL6950B |
KEY EXECUTIVES
|
Name : |
Mr. Krishna |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Pasam Siva Sankara Vijay Kumar |
1500000 |
77.08 |
|
Pasam Sita Lakshmi |
445000 |
22.87 |
|
Radha Dhavala |
1000 |
0.05 |
|
Total |
1946000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 23.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.95 |
|
Other top fifty shareholders |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, producing, melting, converting, manipulating,
treating and to act as agent, broker, buyer, seller, trader, importer,
exporter, distributor etc., to deal in Ferro alloys of all grades and forms
including powder form such as Ferro chrome, silico manganese, silico calcium,
etc. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
D.M. Rao and Company Chartered Accountants |
|
Address : |
305, 2nd Floor, Gvk Plaza, Seethammapeta, Visakhapatnam – 530016,
Andhra Pradesh, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD5653R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1946000 |
Equity Shares |
Rs.10/- each |
Rs. 19.460
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 |
19.460 |
19.450 |
19.450 |
|
(b) Reserves & Surplus |
(11.613) |
(3.451) |
0.000 |
|
(c) Money received against
share warrants |
2.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
9.847 |
15.999 |
19.450 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
63.507 |
38.286 |
0.000 |
|
(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) |
63.507 |
38.286 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1.607 |
0.059 |
0.000 |
|
(c) Other current liabilities |
0.136 |
0.282 |
0.095 |
|
(d) Short-term provisions |
0.934 |
0.332 |
0.290 |
|
Total
Current Liabilities (4) |
2.677 |
0.673 |
0.385 |
|
|
|
|
|
|
TOTAL |
76.031 |
54.958 |
19.835 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12.156 |
13.220 |
8.769 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
56.658 |
9.084 |
6.500 |
|
(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 |
0.689 |
0.020 |
0.037 |
|
(e) Other Non-current assets |
0.000 |
0.206 |
0.315 |
|
Total
Non-Current Assets |
69.503 |
22.530 |
15.621 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1.604 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
2.515 |
3.142 |
1.670 |
|
(e) Short-term loans and
advances |
0.000 |
28.668 |
2.379 |
|
(f) Other current assets |
2.409 |
0.618 |
0.165 |
|
Total
Current Assets |
6.528 |
32.428 |
4.214 |
|
|
|
|
|
|
TOTAL |
76.031 |
54.958 |
19.835 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
Other Income |
|
0.435 |
0.388 |
|
|
TOTAL
(A) |
|
0.435 |
0.388 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
|
1.883 |
1.215 |
|
|
Other expenses |
|
6.280 |
2.804 |
|
|
TOTAL
(B) |
|
8.163 |
4.019 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
(7.728) |
(3.631) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.113 |
(0.181) |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(7.841) |
(3.450) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.321 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
(8.162) |
(3.450) |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
(8.162) |
(3.450) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
(4.19) |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.209 |
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) |
(%) |
0.00
|
0.00 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
0.00
|
0.00 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(42.13) |
(7.52) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.83) |
(0.22) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.45 |
2.41 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.44 |
48.18 |
10.95 |
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 |
19.450 |
19.450 |
19.460 |
|
Reserves & Surplus |
0.000 |
(3.451) |
(11.613) |
|
Money received against share
warrants |
2.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
21.450 |
15.999 |
7.847 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
38.286 |
63.507 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities Of
Long-Term Debts |
0.000 |
0.209 |
0.000 |
|
Total
borrowings |
0.000 |
38.495 |
63.507 |
|
Debt/Equity
ratio |
0.000 |
2.406 |
8.093 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
0.388 |
0.435 |
|
|
|
12.113 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
0.388 |
0.435 |
|
Profit |
(3.450) |
(8.162) |
|
|
(889.18%) |
(1876.32%) |
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 |
Yes |
|
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 |
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
REVIEW OF OPERATIONS
The company has erected entire Plant and Machinery required to commence its commercial operations. The consent from pollution control board is expected to receive within short period. The company has plans to start its commercial production from the month of October 2014. The company is also exploring the export market.
CORPORATE INFORMATION
The company is an unlisted Private Company, domiciled in India and incorporated on 25-01-2010, under the provisions of the Companies Act 1956. The principal object of the company is to carry on India or elsewhere the business of manufacturing, producing, melting, converting, manipulating, treating and to act as agent, broker, buyer, seller, trader, importer, exporter, distributor etc., to deal in Ferro alloys of all grades and forms including powder form such as Ferro chrome, silico manganese, silico calcium, etc., present or future.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loan and advance from related parties |
22.422 |
12.700 |
|
Total |
22.422 |
12.700 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10370964 |
23/07/2012 |
70,000,000.00 |
STATE BANK OF HYDERABAD |
KAKINADA MAIN BRANCH, KAKINADA, ANDHRA PRADESH - 5 |
B55812309 |
FIXED ASSETS
Tangible Assets
- Accessories and other assets
- Furniture and Fixture
- Vehicles
- Electrical Fittings
- Plant and Machinery
- Computer
- Cycle
- Website
- Land and Land Development
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.63.90 |
|
|
1 |
Rs.98.16 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
REK |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.