MIRA INFORM REPORT
|
Report No. : |
349877 |
|
Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SYRMA TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 601, 6th Floor, Floral Deck Plaza, MIDC, Andheri
(East), Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-40363000 |
|
|
|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.08.2004 |
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Com. Reg. No.: |
11-148165 |
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Capital
Investment / Paid-up Capital : |
Rs.75.250 Million |
|
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|
CIN No.: [Company Identification
No.] |
U30007MH2004PTC148165 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMS45407F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS5745D |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer of Electronic Components. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2004 having
satisfactory track. The company possesses an above average financial risk profile marked
by healthy net worth base and decent liquidity position of the company. General financial position of the company is normal and acceptable for
business dealings. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct and as per commitment. 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.
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
MANAGEMENT NON-CO-OPERATIVE
91-22-40363000
91-44-71728625
LOCATIONS
|
Registered Office : |
Unit No. 601, 6th Floor, Floral Deck Plaza, MIDC, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-40363000 |
|
Mobile No.: |
Not Available |
|
Fax No.: |
91-22-28291176 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
|
|
|
Factory : |
Plot No.B27, Phase II, Zone B, MEPZ-SEZ, Tambaram, Chennai - 600045,
Tamil Nadu, India |
|
Tel. No.: |
91-44-71728600 |
|
Fax No.: |
91-44-71728612 |
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E-Mail : |
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|
Website : |
|
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|
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|
Overseas Offices : |
Located at:
|
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Sandeep Tandon |
|
Designation : |
Director |
|
Address : |
37, Merry Niketan, Mount Mary Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
17.05.1969 |
|
Date of Appointment : |
29.12.2004 |
|
DIN No.: |
00054553 |
|
|
|
|
Name : |
Mr. Vikram Chopra |
|
Designation : |
Whole-Time Director |
|
Address : |
1702, Glen Classic Cliff Avenue, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
15.01.1969 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
00311827 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Kumar Nagori |
|
Designation : |
Secretary |
|
Address : |
B-14, Building No. 5, Nalanda, Mittal Enclave, Naigaon East, Vasai, Thane-401202, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1983 |
|
Pan No.: |
AFSPN5761Q |
|
|
|
|
Name : |
Mr. S. Vardharajan |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Veena Kumari Tandon |
|
2100 |
|
Tancom Electronics Private Limited, India |
|
522900 |
|
Total |
|
525000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Tancom Electronics Private Limited, India |
|
700000 |
|
Total |
|
700000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
99.60 |
|
Directors or relatives of Directors |
0.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electronic Components. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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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 : |
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Auditors : |
|
|
Name : |
R. Subramanian and Company Chartered Accountants |
|
Address : |
Flat No. 2, A Ramaniyam Nataraj, New No. 17, D
Silva Road, Mylapore, Chennai - 600004, India |
|
PAN No.: |
AAAFR0602F |
|
|
|
|
Collaborators : |
Not Divulged |
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|
|
|
Membership : |
Not Divulged |
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Ultimate Holding
Company : |
CIN No.: U32107MH1988PTC047729 |
|
|
|
|
Company under the
same Management : |
CIN No.: U32100MH1984PTC034033
CIN No.: U64202MH2001PTC236006
CIN No.: U74140MH1983PTC029383
CIN No.: U72900MH2006PTC163601
CIN No.: U30000MH1996PTC099112
CIN No.: U67120MH1979PTC021588
CIN No.: U67120MH1981PLC024831
CIN No.: U29192MH1998PTC231879
CIN No.: U74120MH1982PLC028823
CIN No.: U51900MH1998PTC114889
CIN No.: U72200MH2007PTC177089
CIN No.: U51900MH1996PLC101290
CIN No.: U15420MH1984PLC033242
|
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Million |
|
900000 |
Preferences Shares |
Rs.100/- each |
Rs.90.000 Million |
|
|
Total
|
|
Rs.125.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
525000 |
Equity Share |
Rs.10/- each |
Rs.5.250 Million |
|
700000 |
Preferences Shares |
Rs.100/- each |
Rs.70.000 Million |
|
|
Total |
|
Rs.75.250
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 |
75.250 |
75.250 |
75.250 |
|
(b) Reserves & Surplus |
216.963 |
186.321 |
156.281 |
|
(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) |
292.213 |
261.571 |
231.531 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
76.528 |
97.811 |
77.402 |
|
(b) Deferred tax liabilities (Net) |
14.611 |
14.134 |
8.659 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
5.265 |
4.165 |
6.781 |
|
Total Non-current
Liabilities (3) |
96.404 |
116.110 |
92.842 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
139.693 |
203.686 |
270.448 |
|
(b) Trade
payables |
308.427 |
338.675 |
242.133 |
|
(c) Other
current liabilities |
62.900 |
73.806 |
136.996 |
|
(d) Short-term
provisions |
4.566 |
6.591 |
4.013 |
|
Total Current
Liabilities (4) |
515.586 |
622.758 |
653.590 |
|
|
|
|
|
|
TOTAL |
904.203 |
1,000.439 |
977.963 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
166.230 |
167.430 |
147.182 |
|
(ii)
Intangible Assets |
0.787 |
1.166 |
2.048 |
|
(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 |
3.265 |
2.926 |
3.315 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
170.282 |
171.522 |
152.545 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
20.000 |
0.000 |
0.000 |
|
(b)
Inventories |
248.003 |
250.711 |
248.275 |
|
(c) Trade
receivables |
220.755 |
381.963 |
360.673 |
|
(d) Cash
and cash equivalents |
69.314 |
40.606 |
67.899 |
|
(e)
Short-term loans and advances |
175.849 |
155.637 |
148.571 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
733.921 |
828.917 |
825.418 |
|
|
|
|
|
|
TOTAL |
904.203 |
1,000.439 |
977.963 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
2427.000 |
2008.000 |
1727.400 |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
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|
PROFIT/(LOSS)
BEFORE TAX |
41.719 |
45.731 |
42.656 |
||
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|
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||
|
Less |
TAX |
11.077 |
15.691 |
5.867 |
||
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||
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PROFIT/(LOSS)
AFTER TAX |
30.642 |
30.040 |
36.789 |
||
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||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
161.570 |
131.530 |
94.741 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
192.212 |
161.570 |
131.530 |
||
|
|
|
|
|
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||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
926.833 |
940.519 |
1119.600 |
|
|
|
TOTAL EARNINGS |
926.833 |
940.519 |
1119.600 |
||
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|
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|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
646.205 |
521.399 |
848.321 |
|
|
|
TOTAL IMPORTS |
646.205 |
521.399 |
848.321 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
||
|
|
Basic |
58.37 |
57.22 |
53.04 |
||
|
|
Diluted |
43.77 |
42.91 |
53.04 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
8.162 |
0.000 |
2.508 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
174.215 |
83.484 |
219.094 |
|
Net cash flows from (used in) operating activities |
161.635 |
76.562 |
212.241 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.26 |
1.50 |
2.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.61 |
4.57 |
4.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.17 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.74 |
1.15 |
1.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42 |
1.33 |
1.26 |
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 |
75.250 |
75.250 |
75.250 |
|
Reserves & Surplus |
156.281 |
186.321 |
216.963 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
231.531 |
261.571 |
292.213 |
|
|
|
|
|
|
Long Term borrowings |
77.402 |
97.811 |
76.528 |
|
Short Term borrowings |
270.448 |
203.686 |
139.693 |
|
Total
borrowings |
347.850 |
301.497 |
216.221 |
|
Debt/Equity
ratio |
1.502 |
1.153 |
0.740 |
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 |
1,727.400 |
2,008.000 |
2,427.000 |
|
|
|
16.244 |
20.867 |
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
|
1,727.400 |
2,008.000 |
2,427.000 |
|
Profit |
36.789 |
30.040 |
30.642 |
|
|
2.13% |
1.50% |
1.26% |
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 |
No |
|
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 |
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 |
Note :Registered office of the company is shifted from C-1, Udyog Sadan 3, MIDC, Central Road, Andheri (East), Mumbai-400093, Maharashtra, India to the present address w.e.f 17.07.2012.
PERFORMANCE
REVIEW:
During the year the Company had achieved a turnover of Rs.2427.000 Million as compared to Rs.2008.000 Million in the previous year.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
58.275 |
67.718 |
|
Total |
58.275 |
67.718 |
INDEX OF CHARGES:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10564219 |
07/03/2015 |
331,400,000.00 |
RBL Bank Limited |
6TH FLR, TOWER 2B, ONE INDIABULLS CENTRE,
841, S |
C51176196 |
|
2 |
10063394 |
22/05/2014 * |
522,000,000.00 |
State Bank of India |
SME GUINDY BRANCH, 65-A, G.S.T ROAD,
CHENNAI, TAMIL NADU - 600032, INDIA |
C06546493 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 records 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. 66.14 |
|
|
1 |
Rs. 100.55 |
|
Euro |
1 |
Rs. 71.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SYL |
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 |
6 |
|
--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 |
|
47 |
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.