MIRA INFORM REPORT

 

 

Report No. :

321693

Report Date :

30.05.2015

 

IDENTIFICATION DETAILS

 

Name :

AJNI INDUSTRIES PRIVATE LIMITED (w. e. f. 02.06.2011)

 

 

Formerly Known As :

AJNI CLEAN ROOMS PRIVATE LIMITED

 

 

Registered Office :

Plot No-20 To 26, Gujarat Industrial Estate, Behind Roses Nursery, Chhani Road Navayard, Vadodara-390002, Gujarat

Tel. No.:

91-265-2774855 / 2761515

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

18.02.2005

 

 

Com. Reg. No.:

04-045523

 

 

Capital Investment / Paid-up Capital :

Rs. 7.500 Million

 

 

CIN No.:

[Company Identification No.]

U36100GJ2005PTC045523

 

 

IEC No:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Aluminum of GI Doors and Windows.

 

 

No. of Employees :

100 (Approximately)

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 400000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established private limited company having satisfactory track record.

 

Company has recorded high in its profit and sales. Liquidity and overall financials are good in current financial year as compared to previous financial year.

 

Trade relations are fair. Business is active. Payments 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 – 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

CARE

Rating

Long Term BB+

Rating Explanation

Inadequate credit quality and high credit risk.

Date

March 2014

 

Rating Agency Name

CARE

Rating

Short Term A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

March 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 PARTED BY

 

Name :

Mr. Bhargawa Goswami

Designation :

Manager

Contact No.:

91-9427603935

Date :

14.05.2015

 

LOCATIONS

 

Registered Office/Factory :

Plot No-20 To 26, Gujarat Industrial Estate, Behind Roses Nursery, Chhani Road Navayard, Vadodara-390002, Gujarat

Tel. No.:

91-265-2774855 / 2761515

Mobile No.:

91-9427603935 (Mr. Bhargawa Goswami)

Fax No.:

91-265-2762424

E-Mail :

ajnicr@yahoo.com

mail@ajnicr.com

Website :

http://www.ajni.co.in

Location :

Owned

 

DIRECTORS

 

As on: 30.09.2014

 

Name :

Mr. Pannalal Bhairavlal Sharma

Designation :

Director

Address :

C/90, Tashkand Society, Nizampura, Vadodara-390002, Gujarat, India

Date of Birth/Age :

15.10.1974

Date of Appointment :

18.02.2005

DIN No.:

00292286

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U36100GJ2005PTC045523

AJNI INDUSTRIES PRIVATE LIMITED

Director

18/02/2005

18/02/2005

-

Active

NO

2

U29299GJ2009PTC056946

AVIO GR-ENV PRIVATE LIMITED

Director

15/05/2009

15/05/2009

-

Active

NO

 

 

Name :

Mr. Dipu Bhairavlal Sharma

Designation :

Director

Address :

C/90, Tashkand Society, Nizampura, Vadodara-390002, Gujarat, India

Date of Birth/Age :

13.08.1976

Date of Appointment :

18.02.2005

DIN No.:

00292405

Other Directorship:

S.   No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U36100GJ2005PTC045523

AJNI INDUSTRIES PRIVATE LIMITED

Director

18/02/2005

18/02/2005

-

Active

NO

2

U13205GJ2014PTC080985

HASTEN EXTRUSIONS PRIVATE LIMITED

Director

07/10/2014

07/10/2014

-

Active

NO

 

KEY EXECUTIVES

 

Name :

Devesh Amubhai Pathak

Designation :

Company Secretary

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on: 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Pannalal Bhairavlal Sharma

275000

36.67

Dipu Bhairavlal Sharma

275000

36.67

Dularam B. Mistry

200000

26.67

 

 

 

Total

750000

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 30.09.2015

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Aluminum of GI Doors and Windows.

 

 

Products :
  • Laboratory Furniture
  • Laboratory Fume Hood
  • HPLC Column Storage
  • Clean Room Partition
  • Clean Room Doors and Panels

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :
  • Finished goods

Countries :
  • Middle East
  • North America
  • Europe

 

 

Imports :

 

Products :
  • Raw Materials

Countries :
  • Dubai
  • Germany  

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

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 :

100 (Approximately)

 

 

Bankers :

Bank Name

Union Bank of India

Branch

Nizampura Branch, 16, Navdurga Society, N H No. 8, Nizampura, Vadodara - 390002, 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 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

 
  • Indusind Bank Limited, Baroda Branch, Ground Floor and 1st Floor, Gold Croft, Vishwas Colony, Jetalpur Road, Vadodara, Gujarat - 390005, India.

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term Loans from Banks

42.201

10.077

 

 

 

Short-term borrowings

 

 

Working Capital Loans from Banks

36.892

33.679

 

 

 

Total

79.093

43.756

 

Auditors :

 

Name :

Ruparel and Associates

Chartered Accountants

Address :

FF 10, Avishkar Complex, Old Padra Road, Baroda-390015, Gujarat, India

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

AAYPR0065L

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs. 10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

750000

Equity Shares

Rs.10/- each

Rs.7.500 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

7.500

7.500

7.500

(b) Reserves & Surplus

132.644

105.759

89.101

(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)

140.144

113.259

96.601

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

42.201

10.077

14.976

(b) Deferred tax liabilities (Net)

11.810

10.826

9.393

(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)

54.011

20.903

24.369

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

36.892

33.679

10.990

(b) Trade payables

53.101

54.302

50.849

(c) Other current liabilities

61.407

13.732

9.696

(d) Short-term provisions

1.184

0.570

0.120

Total Current Liabilities (4)

152.584

102.283

71.655

 

 

 

 

TOTAL

346.739

236.445

192.625

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

188.452

133.429

103.557

(ii) Intangible Assets

0.538

0.599

0.628

(iii) Capital work-in-progress

44.284

3.251

6.342

(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

0.000

0.458

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

233.274

137.737

110.527

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

39.152

24.264

21.489

(c) Trade receivables

56.894

63.312

54.220

(d) Cash and cash equivalents

5.182

8.474

2.688

(e) Short-term loans and advances

12.163

2.596

3.701

(f) Other current assets

0.074

0.062

0.000

Total Current Assets

113.465

98.708

82.098

 

 

 

 

TOTAL

346.739

236.445

192.625

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

289.083

281.562

193.907

 

Other Income

0.620

0.170

1.091

 

TOTAL

289.703

281.732

194.998

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

 

 

 

Employees benefits expense

 

 

 

 

Other expenses

 

 

 

 

TOTAL

247.608

250.801

168.107

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

42.095

30.931

26.891

 

 

 

 

 

Less:

DEPRECIATION/ AMORTISATION

7.226

6.639

5.138

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

34.869

24.292

21.753

 

 

 

 

 

Less:

TAX

7.984

7.634

8.126

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

26.885

16.658

13.627

 

 

 

 

 

Add:

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

105.759

89.101

75.474

 

 

 

 

 

 

Balance Carried to the B/S        

132.644

105.759

89.101

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

11.035

2.774

NA

 

TOTAL EARNINGS

11.035

2.774

NA

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

3.328

4.709

 

Capital Goods

36.061

 NA

 

 

TOTAL IMPORTS

39.389

4.709

NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 35.85

 22.21

 18.17

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS:

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

6.609

6.293

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

9.30

5.92

7.03

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

14.56

10.99

13.87

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

11.53

10.42

11.68

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.25

0.21

0.23

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.56

0.39

0.27

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.74

0.97

1.15

 

 

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

7.500

7.500

7.500

Reserves & Surplus

89.101

105.759

132.644

Net worth

96.601

113.259

140.144

 

 

 

 

long-term borrowings

14.976

10.077

42.201

Short term borrowings

10.99

33.679

36.892

Total borrowings

25.966

43.756

79.093

Debt/Equity ratio

0.269

0.386

0.564

 

 

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

193.907

281.562

289.083

 

 

45.205

2.671

 

 

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

193.907

281.562

289.083

Profit

13.627

16.658

26.885

 

7.03%

5.92%

9.30%

 

 

 

 

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

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 three 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

Yes

31

External Agency Rating, if available

Yes

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

 

 

 

 

 

REVIEW OF OPERATIONS:

 

Total income during the year has increased to Rs. 289.703 Million from Rs. 281.732 Million in the previous year. However Net profit of the Company for the year has also increased to Rs. 26.884 Million as against 16.657 Million in the previous year.

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10518792

03/09/2014

91,714,000.00

INDUSIND BANK LIMITED

BARODA BRANCH -GROUND FLOOR AND 1ST FLOOR,GOLD CROFT, VISHWAS COLONY, JETALPUR ROAD, VADODARA, GUJARAT - 390005, INDIA

C19752211

2

10518789

06/08/2014

91,714,000.00

INDUSIND BANK LIMITED

BARODA BRANCH -GROUND FLOOR AND 1ST FLOOR,GOLD CROFT, VISHWAS COLONY, JETALPUR ROAD, VADODARA, GUJARAT - 390005, INDIA

C19750876

3

10462640

08/10/2013

1,200,000.00

UNION BANK OF INDIA

NIZAMPURA BRANCH, 16, NAVDURGA SOCIETY, N H NO.8, 
NIZAMPURA, VADODARA, GUJARAT - 390002, INDIA

B90518309

4

10370733

31/07/2012

1,200,000.00

UNION BANK OF INDIA

NIZAMPURA BRANCH, NEAR GHELANI PETROL PUMP, NIZAMPURA, VADODARA, GUJARAT - 390002, INDIA

B45741824

5

10279749

06/04/2011

2,500,000.00

UNION BANK OF INDIA

ULP BARODA BRANCH, 16, NAVDURGA SOCIETY, NR. GHELANI PETROL PUMP, NIZAMPURA, VADODARA, GUJARAT - 390002, INDIA

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

31.03.2013

Guarantee issued to Government authorities / other Party

1.042

1.042

 

FIXED ASSETS:

 

Tangible Assets:

 

·         Freehold Land

·         Building

·         Plant and Machinery

·         Furniture and Fixtures

·         Vehicles

·         Office Equipments

·         Computer

·         Dies and Moulds

 

Intangible

 

·         Computer 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. 63.76

UK Pound

1

Rs. 97.80

Euro

1

Rs. 69.91

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

THR

 

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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

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

 

--

 

 

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.