MIRA INFORM REPORT

 

 

Report No. :

344217

Report Date :

08.10.2015

 

IDENTIFICATION DETAILS

 

Name :

EUREKA COSMO PRIVATE LIMITED

 

 

Registered Office :

No.13, Gokul Regency II, Thakur Complex, Kandivali (East), Mumbai – 400101, Maharashtra

Tel. No.:

91-22-28706767

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015 (Provisional)

 

 

Date of Incorporation :

18.10.2007

 

 

Com. Reg. No.:

11-175164

 

 

Capital Investment / Paid-up Capital :

Rs. 2.500 Million

 

 

CIN No.:

[Company Identification No.]

U24246MH2007PTC175164

 

 

IEC No.:

0308019229

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCE8674N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of all types of cosmetic products.

 

 

No. of Employees :

26 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

The company has taken huge borrowings during the year. Due to recession and increase in material cost it has registered marginal decline in revenue.

 

The company has feasible financial growth. It has satisfactory scale of 'operations marked by profitability margin of 4.0% in the FY-14.

 

Business is active. Payments are slow but correct.

 

The company can be considered 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

 

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. Dharamshi Manji Patel

Designation :

Director

Contact No.:

91-22-28706767

Date :

08.10.2015

 

 

LOCATIONS

 

Registered Office :

No.13, Gokul Regency II, Thakur Complex, Kandivali (East), Mumbai – 400101, Maharashtra, India

Tel. No.:

91-22-28706767

Mobile No.:

91-9604502740 (Mr. Chetan)

Fax No.:

91-22-28546338

E-Mail :

eureka.cosmo@gmail.com

 

 

Warehouse 1 :

Gala No. 5, 6, 7, 105, 115 Nanda Indsutrial Estate, Near N H No. 8, Sativali, Vasai (East), Thane – 400128, Maharashtra, India

 

 

Warehouse 2 :

Shop No. 9, Naffes Chambers, Tilak Marg, Carnac Bunder, Mumbai, Maharashtra, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Dharamshi Manji Patel

Designation :

Director

Address :

A-2201, Videocon Towers, Thakur Complex, Kandivali (East), Mumbai - 400101, Maharashtra, India

Date of Birth/Age :

19.06.1962

Date of Appointment :

18.10.2007

DIN No.:

01756892

 

 

Name :

Mr. Ramji Bhikhabhai Ahir

Designation :

Director

Address :

B/404, Gardenia Valley of Flowers, Thakur Village, Kandivali (East), Mumbai - 400101, Maharashtra, India

Date of Birth/Age :

01.06.1968

Date of Appointment :

18.10.2007

DIN No.:

01643732

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Dharamshi Manji Patel

125000

50.00

Ramji Bhikhabhai Ahir

125000

50.00

Total

250000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of all types of cosmetic products.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Cosmetic

Countries :
  • Korea
  • Germany
  • Taiwan
  • China
  • France

 

 

Terms :

 

Selling :

Cheque and Credit (30 Days)

 

 

Purchasing :

Cheque and Credit (30 Days)

 

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 :

Retailers and End Users

 

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 :

26  (Approximately)

 

 

Bankers :
  • Kotak Mahindra Bank, Thakur Complex, Kandivali, Mumbai, Maharashtra, India
  • State Bank of India, Thakur Complex, Kandivali, Mumbai, Maharashtra, India

 

Banker Name

Abhyudaya Co-Operating Bank Limited

Branch Address

Administrative Office, K.K. Tower, Abhyudaya Bank, Lane, G.D. Ambekar Marg, Parel Village,, Mumbai - 400012, Maharashtra, 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)

Overdraft: Rs. 30.000 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Kotak Mahindra Bank Limited

NA

8.613

Abhyudaya Co-Operating Bank Limited

NA

1.217

SHORT TERM BORROWING

 

 

Working Capital Facilities

NA

24.177

Total

NA

34.007

 

NOTE (AS ON 31.03.2014)

 

Details of repayment of Term Loans

 

Lender

 Rs. In Million Outstanding

Nature of Facility

Terms of Repayment

Kotak Mahindra Bank Limited

8.613

Term Loan against Office premises

120 Months

Abhyudaya Co-Operating Bank Limited

1.217

Term Loan against Godown

71 Months

 

Security:

 

(i) Long Term Loan obtained from Kotak Mahindra Bank are secured by Office premises at Kanakia and equipment Long Term Loan obtained from Abhyudaya Co-Operating Bank Limited are secured by Godown No.7 and 115 of Nanda Industrial Estate Vasai

 

(ii) All the secured loans are further secured by the personal guarantees of directors

 

(iii) Interest rates on the above term loans range between 12.75% to 13.50%

 

Security:

 

(i) Working Capital Loan from Abhyudaya Co-Operating Bank Limited is secured by stock of

finished goods, book debts and further collateral security of Shops and residential premises of the directors.

 

(ii) The above loan is further secured 'by the personal guarantees of directors

 

(ii) Interest rate on the above loan is 13% p.a. (Floating)

 

Auditors :

 

Name :

Bharat N. Parikh and Company

Chartered Accountants

Address :

111, Arun Bazar, 1st Floor, Opposite Natraj Market, S.V.Road, Malad-West, Mumbai – 400064, Maharashtra

Tel. No.:

91-22-28890637

Mobile No.:

91-9324533584

Fax No.:

91-22-28809302

E-Mail :

Bparikh25@gmail.com

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

AADPP9582D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Vov Cosmetics Private Limited

Address: No.13, Gokul Regency II, Thakur Complex, Kandivali (East), Mumbai – 400101, Maharashtra, India

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

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

 

 

 

 

250000

Equity Shares

Rs.10/- each

Rs. 2.500 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

(Provisional)

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2.500

2.500

2.500

(b) Reserves & Surplus

22.411

14.065

10.475

(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)

24.911

16.565

12.975

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

71.090

58.232

61.304

(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)

71.090

58.232

61.304

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

20.099

24.176

16.507

(b) Trade payables

27.657

33.525

16.279

(c) Other current liabilities

5.648

8.235

2.887

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

53.404

65.936

35.673

 

 

 

 

TOTAL

149.405

140.733

109.952

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

16.573

14.177

15.930

(ii) Intangible Assets

0.000

0.000

0.000

(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

0.924

0.557

0.557

(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

0.000

0.000

0.000

Total Non-Current Assets

17.497

14.734

16.487

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

113.755

105.635

72.604

(c) Trade receivables

13.280

13.737

17.916

(d) Cash and cash equivalents

2.179

2.154

1.487

(e) Short-term loans and advances

2.684

4.461

1.443

(f) Other current assets

0.010

0.012

0.015

Total Current Assets

131.908

125.999

93.465

 

 

 

 

TOTAL

149.405

140.733

109.952

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

(Provisional)

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

93.292

89.159

90.734

 

Other Income

2.196

0.624

0.675

 

TOTAL (A)

95.488

89.783

91.409

 

 

 

(Due To recession and because of material cost was increased)

 

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

77.012

95.705

74.851

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(8.120)

(33.031)

 

 

Employees benefits expense

4.229

3.232

 

 

Other expenses

3.953

6.603

 

 

TOTAL (B)

77.074

72.509

74.851

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

18.414

17.274

16.558

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

10.491

10.287

9.726

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

7.923

6.987

6.832

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

0.574

1.807

2.052

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

7.349

5.180

4.780

 

 

 

 

 

Less

TAX (H)

1.890

1.590

1.450

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

5.459

3.590

3.330

 

 

 

 

 

 

IMPORT ON CIF

NA

69.212

58.629

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

29.40

20.72

NA

 

 

Expected Sales (2015-2016) : Rs.120.000 Million

 

The above information has been parted by Mr. Dharamshi Manji Patel

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

(Provisional)

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

0.700

0.656

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

(Provisional)

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

5.85

4.03

3.67

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

19.74

19.37

18.25

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.95

3.70

4.37

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.30

0.31

0.37

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.66

5.02

6.05

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.47

1.91

2.62

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

2.500

2.500

2.500

Reserves & Surplus

10.475

14.065

22.411

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

12.975

16.565

24.911

 

 

 

 

long-term borrowings

61.304

58.232

71.090

Short term borrowings

16.507

24.176

20.099

Total borrowings

77.811

82.408

91.189

Debt/Equity ratio

5.997

4.975

3.661

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

90.734

89.159

93.292

 

 

(1.736)

4.636

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

90.734

89.159

93.292

Profit

3.330

3.590

5.459

 

3.67%

4.03%

5.85%

 

 

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

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%

Yes

28

Estimation for coming financial year

Yes

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

 

 

NOTE: Registered office of the company has been shifted from B/404, Gardenia Valley of Flowers, Thakur Village, Kandivali (East), Mumbai -400101, Maharashtra, India to the present address w.e.f. 21.12.2010

 

OPERATIONS/WORKING RESULTS (AS ON 31.03.2014)

 

During the period, the Company has recorded the sales of Rs.89.160 Million as compared to the sales of Rs.90.734 Million for corresponding previous year.

 

The above financial results show that the Company has earned a net profit to the tune of Rs.3.590 Million as compared to the profit earned of Rs.3.331 Million for corresponding previous year, after deducting provision for taxation.

 

Barring unforeseen circumstances, further improvement in sale and profitability is expected in the current year in view of continued efforts being made. Further the company is taking effective steps for expansion and diversification to strengthen the profitability and financial soundness of the Company.

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

From Directors

NA

47.586

From Others

NA

0.815

Total

NA

48.401

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10547279

10/01/2015

5,000,000.00

ABHYUDAYA CO-OPERATIVE BANK LIMITED

ADMINISTRATIVE OFFICE, K.K. TOWER, ABHYUDAYA BANK,
LANE, OFF. G. D. AMBEKAR MARG, PAREL VILLAGE., M
UMBAI, MAHARASHTRA - 400012, INDIA

C42580464

2

10317454

22/10/2011

10,500,000.00

KOTAK MAHINDRA BANK LIMITED

36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, M
UMBAI, MAHARASHTRA - 400021, INDIA

B25222977

3

10230371

25/06/2010

25,000,000.00

ABHYUDAYA CO-OP. BANK LTD.

ADMINISTRATIVE OFFICE, K.K.TOWER, ABHYUDAYA BANK,
LANE, G.D.AMBEKAR MARG, PAREL VILLAGE,, MUMBAI, M
AHARASHTRA - 400012, INDIA

A89674071

 

 

FIXED ASSETS

 

 

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 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.65.26

UK Pound

1

Rs.99.53

Euro

1

Rs.73.47

 

 

INFORMATION DETAILS

 

Information Gathered by :

TRI

 

 

Analysis Done by :

SVA

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--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

 

42

 

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.