MIRA INFORM REPORT
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Report No. : |
344066 |
|
Report Date : |
07.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
RUCHA TECHNOLOGIES PRIVATE LIMITED |
|
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|
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Registered
Office : |
102, Om Residency, 350/7, Opposite Firodia Hostel, Shivajinagar, Pune
– 411004, Maharashtra |
|
Mobile No.: |
91-7709320001 (Mr. Dushyant Dhakare) |
|
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.06.2006 |
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Com. Reg. No.: |
25-128583 |
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Capital
Investment / Paid-up Capital : |
Rs.25.100 Million |
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|
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CIN No.: [Company Identification
No.] |
U29299PN2006PTC128583 |
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IEC No.: |
0306073251 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNER08603A |
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PAN No.: [Permanent Account No.] |
AADCR3216K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing of Automobile Components and Tooling. |
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No. of Employees
: |
100 (Approximately) |
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2006 having
moderate track. It is engaged in the business as manufacturer of automobile components. The company has incurred huge accumulated losses. However, the company has achieved fair profitability during the FY2014
which has further reduced some part of its accumulated losses. Their trade relations are reported as fair. Business is active.
Payments are reported as slow but correct. The company 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 PARTED BY
|
Name : |
Mr. Dushyant Dhakare |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-7709320001 |
|
Date : |
06.10.2015 |
LOCATIONS
|
Registered Office : |
102, Om Residency, 350/7, Opposite Firodia Hostel, Shivajinagar, Pune – 411004, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-7709320001 (Mr. Dushyant Dhakare) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
|
Locality : |
Residential |
|
|
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|
Head Office / Factory 1/ Branch Office 1: |
K- 249A, MIDC, Waluj, Aurangabad-431136, Maharashtra, India |
|
Tel. No.: |
91-240-2564884 / 2555692 |
|
Fax No.: |
91-240-2552097 |
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E-Mail : |
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|
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Factory 2 / Branch Office 2: |
B-3, TML Vendor Park, Sanand, Ahmedabad-382110, Gujarat, India |
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E-Mail : |
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Factory 3: |
C-1, MIDC, Waluj, Aurangabad-431136, Maharashtra, India. |
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Tel. No.: |
91-240-2551114 |
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E-Mail : |
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Factory 4 : |
L-23A, MIDC, Waluj, Aurangabad-431136, Maharashtra, India |
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Tel. No.: |
91-240-2553118 |
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Fax No.: |
91-240-2552097 |
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E-Mail : |
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Branch Office 3: |
B-12, MIDC, Mahalunge, Phase-1, Chakan Pune-411510, Maharashtra, India |
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E-Mail : |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Umesh Martandrao Dashrathi |
|
Designation : |
Director |
|
Address : |
140, Jyoti Nagar, Aurangabad – 431005, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
12.06.2006 |
|
DIN No.: |
00269982 |
|
|
|
|
Name : |
Mrs. Jyoti Umesh Dashrathi |
|
Designation : |
Director |
|
Address : |
140, Jyoti Nagar, Aurangabad – 431005, Maharashtra, India |
|
Date of Birth/Age : |
18.03.1965 |
|
Date of Appointment : |
12.06.2006 |
|
DIN No.: |
00270103 |
|
|
|
|
Name : |
Mr. Shrikant Govind Sohoni |
|
Designation : |
Additional director |
|
Address : |
Plot No. 14, Aditya Nagar, Garkheda, Aurangabad – 431005, Maharashtra,
India |
|
Date of Birth/Age : |
28.02.1962 |
|
Date of Appointment : |
08.08.2012 |
|
DIN No.: |
05342770 |
KEY EXECUTIVES
|
Name : |
Mr. Dushyant Dhakare |
|
Designation : |
Senior Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Umesh Martandrao Dashrathi |
1855000 |
73.90 |
|
Jyoti Umesh Dashrathi |
655000 |
26.10 |
|
Total |
2510000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of Automobile Components and Tooling. |
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Products : |
· Automobile Components ·
Tooling |
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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 : |
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Products : |
Raw Material |
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Countries : |
USA |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
PRODUCTION STATUS:NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
V.S. Potdar and Company Chartered Accountants |
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Address : |
C- 9, Beverly Estate, 852/5 and 6, |
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Tel. No.: |
91-20-25678400 / 30 |
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Fax No.: |
91-20-25678405 |
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E-mail : |
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PAN No.: |
ABQPP0877P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries (as confirmed by the management): |
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CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,000,000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,510,000 |
Equity Shares |
Rs.10/- each |
Rs.25.100 Million |
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
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I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
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(a) Share Capital |
25.100 |
25.100 |
25.100 |
|
(b) Reserves &
Surplus |
(42.474) |
(50.479) |
(46.364) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
49.600 |
49.600 |
49.600 |
|
Total Shareholders’ Funds
(1) + (2) |
32.226 |
24.221 |
28.336 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
10.229 |
13.541 |
22.100 |
|
(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) |
10.229 |
13.541 |
22.100 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
42.919 |
38.047 |
73.875 |
|
(b) Trade payables |
25.682 |
19.156 |
22.384 |
|
(c) Other current
liabilities |
55.427 |
69.092 |
12.088 |
|
(d) Short-term provisions |
3.909 |
3.187 |
4.180 |
|
Total Current Liabilities
(4) |
127.937 |
129.482 |
112.527 |
|
|
|
|
|
|
TOTAL |
170.392 |
167.244 |
162.963 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
39.559 |
41.924 |
45.644 |
|
(ii) Intangible Assets |
0.097 |
0.162 |
0.269 |
|
(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) |
1.896 |
2.468 |
1.109 |
|
(d) Long-term Loan and Advances |
11.188 |
7.789 |
8.166 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
52.740 |
52.343 |
55.188 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
53.661 |
58.398 |
57.558 |
|
(c) Trade receivables |
59.693 |
47.918 |
47.814 |
|
(d) Cash and cash
equivalents |
1.299 |
5.058 |
0.376 |
|
(e) Short-term loans and
advances |
2.902 |
3.454 |
1.982 |
|
(f) Other current assets |
0.097 |
0.073 |
0.045 |
|
Total Current Assets |
117.652 |
114.901 |
107.775 |
|
|
|
|
|
|
TOTAL |
170.392 |
167.244 |
162.963 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
289.290 |
194.344 |
215.937 |
|
|
Other Income |
2.458 |
1.613 |
6.593 |
|
|
TOTAL |
291.748 |
195.957 |
222.530 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
275.134 |
192.492 |
218.549 |
|
|
|
|
|
|
|
Less |
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
16.614 |
3.465 |
3.981 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
8.037 |
8.679 |
10.219 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, EXCEPTIONAL / EXTRAORDINAERY ITMES |
8.577 |
(5.214) |
(6.238) |
|
|
|
|
|
|
|
Less/ Add |
EXCEPTIONAL /
EXTRAORDINAERY ITMES |
0.000 |
0.260 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
8.577 |
(5.474) |
(6.238) |
|
|
|
|
|
|
|
Less |
TAX |
0.572 |
(1.359) |
0.137 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
8.005 |
(4.115) |
(6.375) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
3.19 |
(1.64) |
NA |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
220.000 |
The above information has been parted by Mr. Dushyant Dhakare (Senior
Manager).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
|
|
|
|
Term Loan No. 30156153467 |
3.112 |
8.883 |
8.883 |
|
Interest Accrued on borrowings (Interest outstanding and principal repayable within 12 months) |
0.086 |
0.185 |
0.613 |
|
Total |
3.198 |
9.068 |
9.496 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.77 |
(2.12) |
(2.95) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.09 |
(3.32) |
(3.85) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
(0.23) |
(0.22) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.75 |
2.50 |
3.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
0.89 |
0.96 |
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 |
25.100 |
25.100 |
25.100 |
|
Reserves & Surplus |
(46.364) |
(50.479) |
(42.474) |
|
Share Application money pending
allotment |
49.600 |
49.600 |
49.600 |
|
Net worth |
28.336 |
24.221 |
32.226 |
|
|
|
|
|
|
long-term borrowings |
22.100 |
13.541 |
10.229 |
|
Short term borrowings |
73.875 |
38.047 |
42.919 |
|
Current maturities of
long term debt |
9.496 |
9.068 |
3.198 |
|
Total borrowings |
105.471 |
60.656 |
56.346 |
|
Debt/Equity ratio |
3.722 |
2.504 |
1.748 |
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 |
215.937 |
194.344 |
289.290 |
|
|
|
(10.000) |
48.855 |
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 |
215.937 |
194.344 |
289.290 |
|
Profit/Loss |
(6.375) |
(4.115) |
8.005 |
|
|
(2.95%) |
(2.12%) |
2.77% |
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 |
Yes |
|
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 |
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 four 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and
Advances from related parties |
|
|
|
Mr. Umesh M Dashrathi (HUF) |
10.100 |
10.100 |
|
Mr. Umesh M Dashrathi |
0.019 |
0.219 |
|
Mrs. Jvoti U Dashrathi |
0.110 |
0.110 |
|
Total |
10.229 |
10.429 |
|
The loans obtained from directors Are repayable by the year 2014 which
has been renewed for the period of two years i.e. upto 31.03.2016. No Interest
is payable in respect of the same. |
||
INDEX OF CHARGE:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10049425 |
30/06/2012 * |
117,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,, JAGGI'S BUILDING, JAL |
B44892198 |
*Date of modification Charges
FIXED ASSETS:
Tangible Assets
·
Leasehold Land
·
Factory Building
·
Plant and Machinery
·
Dies and Fixture
·
Office Equipments
·
Computer Hardware
·
Tools and Tackles
·
Electrical Installation
·
Factory Equipments
Intangible Assets
- 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,
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.65.39 |
|
|
1 |
Rs.99.05 |
|
Euro |
1 |
Rs.73.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--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.