MIRA INFORM REPORT
|
Report No. : |
348152 |
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Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
HASSIA PACKAGING PRIVATE LIMITED (w.e.f. 03.10.2006) |
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Formerly Known
As : |
HASSIA REDATRON PACKAGING MACHINERY PRIVATE LIMITED |
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Registered
Office : |
Gat No. 768/3, Sanaswadi, Taluka Shirur, Pune – 412207, Maharashtra |
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Tel. No.: |
91-2137-253210 |
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Country : |
India |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
19.06.1997 |
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Com. Reg. No.: |
11-108901 |
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Capital
Investment / Paid-up Capital : |
Rs. 42.000 Million |
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|
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CIN No.: [Company Identification
No.] |
U29195PN1997PTC108901 |
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IEC No.: |
3198006686 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEH00824F |
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PAN No.: [Permanent Account No.] |
AAACH4374D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter, Importer and Dealer in all types
of Packaging Machines, Allied Systems and Accessories. |
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|
|
No. of Employees
: |
150 (Approximately) |
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 390000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1997 and commenced operations in 2001. The company has its manufacturing facility and office in Pune (Maharashtra). It designs, manufactures, markets, and services packaging machinery, and primarily caters to the fast moving consumer goods (FMCG) sector. The rating reflects on the company's extensive experience promoters in manufacturing packaging equipment and the established track record in the packaging industry. The ratings also factor in company's above-average financial risk profile, marked by low gearing and healthy debt protection metrics. This rating strength is partially offset by the company's modest scale of operations with large working capital requirements, customer concentration in its revenue profile. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered good for normal 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 |
CRISIL |
|
Rating |
Long term bank facilities: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
June 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term bank facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
June 2015 |
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.
LOCATIONS
|
Registered Office/ Factory : |
Gat No. 768/3, Sanaswadi, Taluka Shirur, Pune – 412207, Maharashtra,
India |
|
Tel. No. : |
91-2137-253210/ 209/ 302800/2/6/
302805 91-20-22532081 |
|
Mobile No. : |
91-9561116330 (Mr. Shrikant) |
|
Fax No. : |
91-2137-302819/ 253206 |
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E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 31.12.2015
|
Name : |
Mr. Ravi Krishnamachari |
|
Designation : |
Managing director |
|
Address : |
10/10 Kumar city, Kalyani Nagar, Pune - 411014, Maharashtra, India |
|
Date of Birth/Age : |
11.06.1959 |
|
Qualification : |
B.Sc. and MBA |
|
Date of Appointment : |
19.06.1997 |
|
DIN No. : |
00327292 |
|
|
|
|
Name : |
Markus Adolf Ehl |
|
Designation : |
Nominee director |
|
Address : |
Schaiblesweg, 8, Bad Herrenalb, Germany, 76332 |
|
Date of Birth/Age : |
03.06.1961 |
|
Date of Appointment : |
31.08.2011 |
|
DIN No. : |
03631106 |
|
|
|
|
Name : |
Axel Griesbach |
|
Designation : |
Nominee director |
|
Address : |
Hardenburgstrasse 1, Dudenhofen, 67373, Germany |
|
Date of Appointment : |
11.06.2014 |
|
DIN No. : |
06893531 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.03.2014
|
Names of Shareholders |
No. of Shares |
|
Oystar Verwaltungs GmbH, Germany |
419999 |
|
Markus Adolf Ehl |
1 |
|
Total |
420000 |
As on 25.03.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings (Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Importer and Dealer in all types of Packaging Machines, Allied Systems and Accessories. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees
: |
150 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
Price Waterhouse and Company Bangalore LLP Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai – 400028, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AADFP9359C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
Oystar Verwaltungs GmbH |
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Ultimate Holding
Company : |
Odewald and Compagnie GabH and Co. |
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Intermediate
Holding Company : |
Oystar Holding GmbH |
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Fellow Subsidiaries
: |
· Hamba Filltec GmbH and Co. KG · Hassia Verpackunqsmaschin GmbH · Oyster Thailand · Gasti Verpackunqsmaschin GmbH |
CAPITAL STRUCTURE
AS ON 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
420,000 |
Equity Shares |
Rs.100/- each |
Rs. 42.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
420,000 |
Equity Shares |
Rs.100/- each |
Rs. 42.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
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I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
42.000 |
42.000 |
42.000 |
|
(b) Reserves & Surplus |
94.391 |
72.090 |
51.984 |
|
(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) |
136.391 |
114.090 |
93.984 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.256 |
0.000 |
0.981 |
|
(b) Deferred tax liabilities
(Net) |
1.094 |
1.611 |
1.416 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.806 |
3.914 |
2.244 |
|
Total
Non-current Liabilities (3) |
6.156 |
5.525 |
4.641 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
56.915 |
54.921 |
49.675 |
|
(b) Trade payables |
89.861 |
88.587 |
54.940 |
|
(c) Other current liabilities |
9.114 |
26.995 |
27.693 |
|
(d) Short-term provisions |
7.473 |
4.419 |
3.603 |
|
Total
Current Liabilities (4) |
163.363 |
174.922 |
135.911 |
|
|
|
|
|
|
TOTAL |
305.910 |
294.537 |
234.536 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
79.511 |
86.530 |
94.209 |
|
(ii) Intangible Assets |
0.470 |
1.180 |
1.095 |
|
(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 |
18.670 |
17.163 |
9.423 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
98.651 |
104.873 |
104.727 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
52.173 |
49.710 |
46.544 |
|
(c) Trade receivables |
90.422 |
76.198 |
28.161 |
|
(d) Cash and cash equivalents |
35.963 |
37.210 |
16.875 |
|
(e) Short-term loans and
advances |
28.441 |
26.213 |
38.159 |
|
(f) Other current assets |
0.260 |
0.333 |
0.070 |
|
Total
Current Assets |
207.259 |
189.664 |
129.809 |
|
|
|
|
|
|
TOTAL |
305.910 |
294.537 |
234.536 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
SALES |
|
|
|
|
|
Total Revenue |
407.085 |
335.325 |
378.593 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
43.289 |
40.618 |
72.007 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
10.277 |
10.317 |
10.236 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
33.012 |
30.301 |
61.771 |
|
|
|
|
|
|
|
Less |
TAX |
10.711 |
10.196 |
20.397 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
22.301 |
20.105 |
41.374 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
67.952 |
47.847 |
92.525 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim Dividend on Equity
Shares for the year |
0.000 |
0.000 |
70.480 |
|
|
dividend Distribution tax on Interim Dividend on Equity
Shares |
0.000 |
0.000 |
11.435 |
|
|
Transfer to General Reserve |
0.000 |
0.000 |
4.137 |
|
|
Balance
Carried to the B/S |
90.253 |
67.952 |
47.847 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export of FOB Basis |
132.186 |
132.186 |
163.133 |
|
|
TOTAL
EARNINGS |
132.186 |
132.186 |
163.133 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
26.339 |
26.339 |
14.870 |
|
|
TOTAL
IMPORTS |
26.339 |
26.339 |
14.870 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
53.10 |
47.87 |
98.50 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
0.194 |
1.020 |
1.077 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.79 |
10.29 |
26.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.27 |
0.66 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.42 |
0.49 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.08 |
0.96 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
42.000 |
42.000 |
42.000 |
|
Reserves & Surplus |
51.984 |
72.090 |
94.391 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
93.984 |
114.090 |
136.391 |
|
|
|
|
|
|
long-term borrowings |
0.981 |
0.000 |
0.256 |
|
Short term borrowings |
49.675 |
54.921 |
56.915 |
|
Current maturities of
long-term debts |
1.077 |
1.020 |
0.194 |
|
Total
borrowings |
51.733 |
55.941 |
57.365 |
|
Debt/Equity
ratio |
0.550 |
0.490 |
0.421 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Revenue |
378.593 |
335.325 |
407.085 |
|
|
|
(11.429) |
21.400 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Revenue |
378.593 |
335.325 |
407.085 |
|
Profit |
41.374 |
20.105 |
22.301 |
|
|
10.93% |
6.00% |
5.48% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
Subject a subsidiary of Oystar Verwaltungs GmbH Germany, was incorporated under The Companies Act, 1956 of India on June 19, 1997.
The company primary business is to manufacture, export, import and deal in all types of packaging machines, allied systems and accessories.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10066852 |
31/03/2012 * |
120,000,000.00 |
CANARA BANK |
11, M.G. ROAD, CAMP, PUNE, MAHARASHTRA - 411001, |
B37763554 |
* Date of charge modification
FIXED ASSETS
TANGIBLE ASSETS:
· Freehold Land
· Factory Building
· Plant and Machinery
· Office Equipment
· Computers
· Furniture and Fixture
· Vehicle
INTANGIBLE ASSETS:
· Technical Knowhow
· 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.65.68 |
|
UK Pound |
1 |
Rs.101.02 |
|
Euro |
1 |
Rs.71.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
YES |
|
--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.