MIRA INFORM REPORT
|
Report No. : |
347875 |
|
Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
RUBICON
FORMULATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. M-163, MIDC Area, Aurangabad – 431133, Maharashtra |
|
Tel. No.: |
91-240-2552311 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.12.1999 |
|
|
|
|
Com. Reg. No.: |
11-122999 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.976 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24200MH1999PTC122999 |
|
|
|
|
IEC No.: |
0301069981 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR8018G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing and marketing of pharmaceutical and cosmetic formulations. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 288000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Rubicon Formulations Private Limited was incorporated in the year 1999
and it is having a satisfactory track record. The rating on company reflects the improvement in its financial risk
profile marked by the growing scale of operations, improvement in
profitability and capital structure along with above average debt protection
metrics. The ratings continue to derive strength from the long track record of
the company, experienced promoter, diversified product line and established
marketing channels. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of decent operational and financial base, the company can be
considered for the business dealings with 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
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Mandar |
|
Designation : |
Office Executive |
|
Contact No.: |
91-240-2552311 |
|
Date : |
31.10.2015 |
LOCATIONS
|
Registered Office / Factory 1: |
Plot No. M-163, MIDC Area, Aurangabad – 431133, Maharashtra, India |
|
Tel. No.: |
91-240-2552311 |
|
Fax No.: |
91-240-2552311 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
205,Sangeet Plaza, Near Fire Brigade, Marol, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
91-22-29201459/ 29254657 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
Plot No. M-162, MIDC Area, Aurangabad – 431133, Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Simon John Lewis |
|
Designation : |
Whole-Time Director |
|
Address : |
503 C, 5th Floor, Silver Bell Society, Navagaon LM Road, Dahisar (West), Mumbai - 400068, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1958 |
|
Date of Appointment : |
20.09.2001 |
|
DIN No.: |
00329039 |
|
|
|
|
Name : |
Mr. Prabhakar Vishwanath Marla |
|
Designation : |
Whole-Time Director |
|
Address : |
7, Anmol Apartment, Behind Taksali Mangal Karyalay, Station Road Padampura, Aurangabad - 431005, Maharashtra, India |
|
Date of Birth/Age : |
29.04.1956 |
|
Date of Appointment : |
20.09.2001 |
|
DIN No.: |
00329161 |
|
|
|
|
Name : |
Mr. Ramswarup Sriram Rajoria |
|
Designation : |
Whole-Time Director |
|
Address : |
2/11, Green Park Flat Owner SC, Krantichowk, Aurangabad - 431005, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1949 |
|
Date of Appointment : |
09.12.1999 |
|
DIN No.: |
01026037 |
|
|
|
|
Name : |
Mr. Pradeepkumar Chandrashekar Singh |
|
Designation : |
Whole-Time Director |
|
Address : |
N-4 P No 83, CIDCO, Aurangabad - 431001, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1959 |
|
Date of Appointment : |
09.12.1999 |
|
DIN No.: |
01143105 |
KEY EXECUTIVES
|
Name : |
Mr. Mandar |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Rajoria Ramswarup S |
|
95270 |
|
Simon Lewis |
|
95270 |
|
P. M. Marla |
|
73617 |
|
Pradeep Kumar Singh |
|
67122 |
|
Vishwas K. Mane |
|
51965 |
|
Padmakar M. Pande |
|
49800 |
|
Rajoria Bharit R. |
|
14203 |
|
Irene Simon Lewis |
|
14203 |
|
Sujatha Marla |
|
6000 |
|
Lily Pradeep Kumar Singh |
|
12495 |
|
Usha Vishwas Mane |
|
7747 |
|
Megha Padmakar Pande |
|
9912 |
|
Total |
|
497604 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
76.00 |
|
Other top fifty shareholders |
24.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and marketing of pharmaceutical and cosmetic formulations. |
|
|
|
|
Products : |
Pharmaceutical and Cosmetic Formulations |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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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 : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Vithal Deshmukh and Associates Chartered Accountants |
|
Address : |
1st Floor Tapan Down Town, Adalat Road, Aurangabad – 431001,
Maharashtra, India |
|
Tel. No.: |
91-240-2333282 / 2328968 |
|
Fax No.: |
91-240-2328968 |
|
Website: |
|
|
PAN No.: |
ABITD0102B |
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|
|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
497604 |
Equity Shares |
Rs.10/- each |
Rs.4.976
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 |
4.976 |
4.976 |
4.976 |
|
(b) Reserves &
Surplus |
95.673 |
76.650 |
70.810 |
|
(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) |
100.649 |
81.626 |
75.786 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3.962 |
16.575 |
9.149 |
|
(b) Deferred tax liabilities
(Net) |
1.818 |
2.175 |
2.559 |
|
(c) Other long term
liabilities |
3.035 |
4.216 |
5.312 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
8.815 |
22.966 |
17.020 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7.627 |
7.110 |
5.130 |
|
(b) Trade payables |
117.779 |
101.814 |
81.186 |
|
(c) Other current
liabilities |
3.423 |
3.603 |
5.775 |
|
(d) Short-term provisions |
17.047 |
18.270 |
18.045 |
|
Total Current Liabilities
(4) |
145.876 |
130.797 |
110.136 |
|
|
|
|
|
|
TOTAL |
255.340 |
235.389 |
202.942 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
60.207 |
55.013 |
58.641 |
|
(ii) Intangible Assets |
0.065 |
0.032 |
0.046 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
2.107 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
20.646 |
19.636 |
21.557 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.446 |
0.234 |
0.234 |
|
Total Non-Current Assets |
81.364 |
74.915 |
82.585 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
86.989 |
71.129 |
32.442 |
|
(c) Trade receivables |
67.150 |
68.963 |
66.616 |
|
(d) Cash and cash
equivalents |
5.331 |
8.122 |
5.085 |
|
(e) Short-term loans and
advances |
12.612 |
11.301 |
15.119 |
|
(f) Other current assets |
1.894 |
0.959 |
1.095 |
|
Total Current Assets |
173.976 |
160.474 |
120.357 |
|
|
|
|
|
|
TOTAL |
255.340 |
235.389 |
202.942 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1031.052 |
857.376 |
697.152 |
|
|
Other Income |
2.277 |
2.272 |
2.606 |
|
|
TOTAL |
1033.329 |
859.648 |
699.758 |
|
|
|
|
|
|
|
Less |
EXPENSES |
998.024 |
829.815 |
662.407 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
35.305 |
29.833 |
37.351 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.538 |
7.008 |
6.781 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
28.767 |
22.825 |
30.570 |
|
|
|
|
|
|
|
Less |
TAX |
9.344 |
7.376 |
10.194 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
19.423 |
15.449 |
20.376 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
5.016 |
5.066 |
13.902 |
|
|
Packing Material |
25.099 |
16.083 |
2.445 |
|
|
TOTAL IMPORTS |
30.115 |
21.149 |
16.347 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
39.03 |
31.04 |
40.94 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.88 |
1.80 |
2.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.26 |
10.58 |
17.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.28 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.12 |
0.29 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.23 |
1.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
4.976 |
4.976 |
4.976 |
|
Reserves & Surplus |
70.810 |
76.650 |
95.673 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
75.786 |
81.626 |
100.649 |
|
|
|
|
|
|
long-term borrowings |
9.149 |
16.575 |
3.962 |
|
Short term borrowings |
5.130 |
7.110 |
7.627 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
14.279 |
23.685 |
11.589 |
|
Debt/Equity ratio |
0.188 |
0.290 |
0.115 |
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 |
697.152 |
857.376 |
1031.052 |
|
|
|
22.983 |
20.257 |
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 |
697.152 |
857.376 |
1031.052 |
|
Profit |
20.376 |
15.449 |
19.423 |
|
|
2.92% |
1.80% |
1.88% |
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) |
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 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 |
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 |
OPERATIONAL
PERFORMANCE
The company feels proud to inform its members
that the company was able to maintain its operational performance at the last
year level in spite of global and national recession and sever draught in the
Marathwada region. These factors also led to increase in prices of Raw Material
and hence overall operation margin of the company was affected and witnessed a
steep reduction.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loan from directors |
0.000 |
10.500 |
|
Total |
0.000 |
10.500 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90147488 |
21/10/2011 * |
36,684,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, JAGGI'S BUILDING, JALNA ROAD, KRANTI CHOWK, AURANGABAD - 431005, Maharashtra, INDIA |
B24837221 |
* Date of charge modification
FIXED ASSETS
- Factory Land
- Plant and Machinery
- Electrical Installation
- Computer System
- Fax Machine
- Furniture and Fixtures
- Fire Equipments
- Air Conditioner
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.65.48 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KYP |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.