MIRA INFORM REPORT
|
Report No. : |
345795 |
|
Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HARITHA BIO PRODUCTS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat No 201, Samhita Apartments, Street No. 7, Himayathnagar,
Hyderabad – 500029, Telangana |
|
Mobile No.: |
91-9177044449 (Mr. Shrinivas Reddy) |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
31.03.2009 |
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|
|
|
Com. Reg. No.: |
01-063236 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.33.500 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U15510TG2009PTC063236 |
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|
|
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IEC No.: |
0909005192 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AACCH2075D |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of extra neutral alcohol, industrial alcohol |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
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|
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2009 and it is a manufacturer of
extra neutral alcohol and industrial alcohol. The ratings take into consideration the adverse financial metrics of
the company as reflected by its loss making nature of operations, weak
capital structure along with negative networth position and weak debt
coverage indicators. Rating also takes into consideration delays in term debt servicing
obligation by company due to its stresses liquidity position. Payments are reported to be slow and delayed. In view of aforesaid, the company can be considered for business
dealings on safe and secured 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 |
FITCH |
|
Rating |
Long-term loans = D |
|
Rating Explanation |
Lowest-credit-quality and very low prospects of recovery. |
|
Date |
28.01.2015 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Shrinivas Reddy |
|
Designation : |
Director |
|
Contact No.: |
91-9177044449 |
|
Date : |
19.10.2015 |
LOCATIONS
|
Registered Office : |
Flat No 201, Samhita Apartments, Street No. 7, Himayathnagar,
Hyderabad – 500029, Telangana, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9177044449 (Mr. Shrinivas Reddy) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
Locality: |
Residential |
|
|
|
|
Factory: |
Parlapally Village, thimmapur mandal, Karim Nagar – 50537, Andhra
Pradesh, India |
|
|
|
|
Administrative Office : |
Reghara Pride 8-2-603/27, 2nd Floor, /banjara hills, Hyderabad
– 500034, Telangana, India |
DIRECTORS
AS ON 24.09.2014
|
Name : |
Srinivas Kanamata Reddy |
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|
Designation : |
Director |
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|
Address : |
Flat No 201, Samhita Apartments, Street No.7, Himayathnagar, Hyderabad – 500029, Telangana, India |
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Date of Birth/Age : |
20.04.1972 |
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Date of Appointment : |
31.03.2009 |
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DIN No.: |
02487168 |
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Other
Directorship:
|
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Name : |
Prasad Reddy Ponguleti |
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|
Designation : |
Director |
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Address : |
4-2-62/2, Rotary Nagar, Srinagar Colony, Khammam – 507002, Telangana, India |
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Date of Birth/Age : |
04.11.1965 |
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Date of Appointment : |
31.03.2009 |
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DIN No.: |
02490960 |
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Other
Directorship:
|
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MAJOR SHAREHOLDERS
AS ON 24.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Srinivas Kanamata Reddy |
|
1120000 |
|
Prasad Reddy Ponguleti |
|
1115000 |
|
Srinivas Reddy Ponguleti |
|
1115000 |
|
|
|
|
|
Total |
|
3350000 |
AS ON 25.03.2015
|
Names of Allotees |
|
No. of Shares |
|
Srinivas Kanamata Reddy |
|
2213500 |
|
Harsha Reddy Ponguleti |
|
3853550 |
|
Prasad Reddy Ponguleti |
|
3853550 |
|
Total |
|
9920600 |
Equity Share Break up (Percentage of Total Equity)
AS ON 24.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of extra neutral alcohol, industrial alcohol |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
120 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
V.PRABHAKAR and Company Chartered Accountants |
|
Address : |
Ground Floor, Sai Ganesh Towers, Beside Cache, Furnitures, Mamatha
Hospital Road, Khammam – 507002, Andhra Pradesh, India |
|
Tel. No.: |
91-8742-221026/ 243090 |
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Fax No.: |
91-8742-247889 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AARPV6850G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
After 24.09.2014
Authorised Capital : Rs.240.000 Million
Issued, Subscribed & Paid-up Capital : Rs.33.500
Million
AS ON 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3350000 |
Equity Shares |
Rs.10/- each |
Rs.33.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3350000 |
Equity Shares |
Rs.10/- each |
Rs.33.500 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 |
33.500 |
33.500 |
3.500 |
|
(b) Reserves & Surplus |
(345.079) |
(168.132) |
0.000 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
199.347 |
166.525 |
|
Total
Shareholders’ Funds (1) + (2) |
(311.579) |
64.715 |
170.025 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
964.975 |
722.361 |
381.127 |
|
(b) Deferred tax liabilities
(Net) |
7.099 |
5.411 |
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) |
972.074 |
727.772 |
381.127 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
115.437 |
63.376 |
26.707 |
|
(c) Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
2.681 |
2.035 |
0.696 |
|
Total
Current Liabilities (4) |
118.118 |
65.411 |
27.403 |
|
|
|
|
|
|
TOTAL |
778.613 |
857.898 |
578.555 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
453.568 |
517.418 |
459.458 |
|
(ii) Intangible Assets |
0.140 |
0.211 |
0.350 |
|
(iii) Capital work-in-progress |
42.316 |
50.362 |
40.323 |
|
(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 |
36.230 |
32.175 |
74.685 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
532.254 |
600.166 |
574.816 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
223.950 |
251.355 |
0.000 |
|
(c) Trade receivables |
15.947 |
3.040 |
0.000 |
|
(d) Cash and cash equivalents |
2.863 |
2.692 |
0.000 |
|
(e) Short-term loans and
advances |
3.599 |
0.645 |
3.358 |
|
(f) Other current assets |
0.000 |
0.000 |
0.381 |
|
Total
Current Assets |
246.359 |
257.732 |
3.739 |
|
|
|
|
|
|
TOTAL |
778.613 |
857.898 |
578.555 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
503.409 |
437.528 |
280.815 |
|
|
Other Income |
0.517 |
0.471 |
0.070 |
|
|
TOTAL
(A) |
503.926 |
437.999 |
280.885 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
448.911 |
246.209 |
165.701 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits expense |
22.748 |
22.725 |
13.384 |
|
|
Other expenses |
46.641 |
77.358 |
36.730 |
|
|
TOTAL
(B) |
518.300 |
346.292 |
215.815 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(14.374) |
91.707 |
65.070 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
88.051 |
90.437 |
62.494 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(102.425) |
1.270 |
2.576 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
72.833 |
82.123 |
84.444 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(175.258) |
(80.853) |
(81.868) |
|
|
|
|
|
|
|
Less |
TAX (H) |
1.688 |
2.455 |
2.955 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(176.946) |
(83.308) |
(84.823) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(52.82) |
(24.87) |
(25.32) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(35.15) |
(19.04) |
(30.21) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(2.86) |
20.96 |
23.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(23.80) |
(10.01) |
(15.21) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.56 |
(1.25) |
(0.48) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(3.10) |
11.16 |
2.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.09 |
3.94 |
0.14 |
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 |
3.500 |
33.500 |
33.500 |
|
Reserves & Surplus |
0.000 |
(168.132) |
(345.079) |
|
Share Application money pending allotment |
166.525 |
199.347 |
0.000 |
|
Net
worth |
170.025 |
64.715 |
(311.579) |
|
|
|
|
|
|
long-term borrowings |
381.127 |
722.361 |
964.975 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
381.127 |
722.361 |
964.975 |
|
Debt/Equity
ratio |
2.242 |
11.162 |
(3.097) |
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 |
280.815 |
437.528 |
503.409 |
|
|
|
55.806 |
15.058 |
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 |
280.815 |
437.528 |
503.409 |
|
Profit |
(84.823) |
(83.308) |
(176.946) |
|
|
(30.21%) |
(19.04%) |
(35.15%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10516088 |
05/07/2014 |
20,000,000.00 |
ANDHRA BANK |
GROUND FLOOR, 6-3-891 AND 892,
THE BELVEDERE, RAJ |
C17452269 |
|
2 |
10470184 |
06/12/2013 |
20,000,000.00 |
ANDHRA BANK |
3D FLOOR, 6-3-648, PADMAJA LAND MARK, SOMAJIGUDA, HYDERABAD- 500082, TELANGANA INDIA |
B93508604 |
|
3 |
10307202 |
30/07/2011 |
130,000,000.00 |
ANDHRA BANK |
3RD FLOOR,6-3-648,PADMAJA LAND
MARK,SOMAJIGUDA, S |
B20972428 |
|
4 |
10228627 |
27/05/2010 |
622,500,000.00 |
ANDHRA BANK |
3RD FLOOR,6-3-648,PADMAJA LAND
MARK,SOMAJIGUDA, S |
A87324992 |
FIXED ASSETS
- Building
- Plant and Machinery
- Vehicles
- Office Equipment’s
- Land
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.64.82 |
|
UK Pound |
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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.