MIRA
INFORM REPORT
|
Report No. : |
346317 |
|
Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
VISHESH POLYIMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
405, Durga, A-8 Veera Industrial Estate, Off Veera, Desai Road, Behind
Balaji Tele Films, Andheri (West), Mumbai – 400053, Maharashtra |
|
Tel. No.: |
91-22-26736570 |
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|
Country : |
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Financials (as
on) : |
31.03.2014 |
|
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|
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Date of Incorporation
: |
24.07.1997 |
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|
|
|
Com. Reg. No.: |
11-109595 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.810 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1997PTC109595 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMV07458D |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Awe-inspiring |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
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 |
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|
Comments : |
Subject was incorporated on 24th July, 1997. It is engaged
into business of manufacturing of Awe-inspiring range of ceramic items. It
has satisfactory track record. Profitability of the company seems to be low during FY2014. However,
Liquidity of the company is fair marked by favorable gap between trade
receivables and payables. Further, it possesses an acceptable financial
profile marked by adequate networth base. Trade relations are fair. Business is active. Payment are reported to
be slow but correct. The company can be considered for business dealing 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 DECLINED BY
|
Name : |
Mr. Akshay Mehta |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-26736570 |
|
Date : |
21.10.2015 |
LOCATIONS
|
Registered Office : |
405, Durga, A-8 Veera Industrial Estate, Off Veera, Desai Road, Behind
Balaji Tele Films, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26736570 |
|
Fax No.: |
91-22-26736522 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Sanjay Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
C-10, |
|
Date of Birth/Age : |
28.12.1969 |
|
Date of Appointment : |
24.07.1997 |
|
DIN No.: |
01885941 |
|
|
|
|
Name : |
Ms. Preety Sanjay Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
C-10, |
|
Date of Birth/Age : |
13.05.1972 |
|
Date of Appointment : |
24.07.1997 |
|
DIN No.: |
01885896 |
KEY EXECUTIVES
|
Name : |
Mr. Akshay Mehta |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay Kumar Agarwal |
|
275495 |
|
Preety Sanjay Kumar Agarwal |
|
104500 |
|
Sanjay Kumar Vishesh Kumar HUF |
|
500 |
|
Maganwati Agarwal |
|
100500 |
|
Sundarlal Sanjay Kumar HUF |
|
10 |
|
Mahendra Kumar Bihani |
|
1 |
|
Rajeshwar Sharma |
|
1 |
|
Ramesh Kumar Damani |
|
1 |
|
Usha Bihani |
|
1 |
|
Vishesh Agarwal |
|
100000 |
|
Ramesh Kumar Damani HUF |
|
1 |
|
Total |
|
581010 |
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 : |
Manufacturer of Awe-inspiring Range of Ceramic Items. |
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|
Products : |
Ceramic Items |
|
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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 : |
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|
Name : |
A. G. Mundra and Company Chartered Accountants |
|
Address : |
115, Rewa Chambers, 31, New Marine Lines, Mumbai – 400020, Maharashtra, India |
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Tel. No.: |
91-22-22032010 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAFMP5090H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
581010 |
Equity Shares |
Rs.10/- each |
Rs.5.810
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 |
5.810 |
5.810 |
5.810 |
|
(b) Reserves & Surplus |
16.004 |
15.036 |
14.184 |
|
(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) |
21.814 |
20.846 |
19.994 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
24.354 |
16.940 |
45.685 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3.863 |
2.432 |
1.736 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
28.217 |
19.372 |
47.421 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7.888 |
4.760 |
2.400 |
|
(b) Trade payables |
28.088 |
27.847 |
13.860 |
|
(c) Other current liabilities |
1.189 |
2.040 |
0.697 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
37.165 |
34.647 |
16.957 |
|
|
|
|
|
|
TOTAL |
87.196 |
74.865 |
84.372 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.057 |
2.970 |
3.248 |
|
(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 |
6.433 |
6.462 |
5.782 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.442 |
6.442 |
10.459 |
|
(e) Other Non-current assets |
2.219 |
4.825 |
2.500 |
|
Total
Non-Current Assets |
21.151 |
20.699 |
21.989 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
13.926 |
0.000 |
31.631 |
|
(c) Trade receivables |
40.692 |
43.666 |
27.036 |
|
(d) Cash and cash equivalents |
3.825 |
6.265 |
0.031 |
|
(e) Short-term loans and
advances |
0.172 |
0.471 |
0.000 |
|
(f) Other current assets |
7.430 |
3.764 |
3.685 |
|
Total
Current Assets |
66.045 |
54.166 |
62.383 |
|
|
|
|
|
|
TOTAL |
87.196 |
74.865 |
84.372 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
342.161 |
314.528 |
185.706 |
|
|
Other Income |
2.987 |
1.761 |
2.879 |
|
|
TOTAL
(A) |
345.148 |
316.289 |
188.585 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
351.100 |
277.815 |
207.157 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(13.926) |
31.631 |
(23.949) |
|
|
Employees benefits expense |
0.195 |
0.15 |
0.154 |
|
|
Other expenses |
1.419 |
2.08 |
1.717 |
|
|
TOTAL
(B) |
338.788 |
311.676 |
185.079 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
6.360 |
4.613 |
3.506 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.943 |
3.289 |
2.383 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.417 |
1.324 |
1.123 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.230 |
0.277 |
0.399 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
1.187 |
1.047 |
0.724 |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.220 |
0.195 |
0.098 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX (G-H) (I) |
0.967 |
0.852 |
0.626 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
5.036 |
4.184 |
3.558 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
6.003 |
5.036 |
4.184 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.67 |
1.47 |
1.08 |
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 flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.28 |
0.27 |
0.34 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.86 |
1.47 |
1.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.47 |
1.53 |
0.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.05 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.48 |
1.04 |
2.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78 |
1.56 |
3.68 |
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 |
5.810 |
5.810 |
5.810 |
|
Reserves & Surplus |
14.184 |
15.036 |
16.004 |
|
Net
worth |
19.994 |
20.846 |
21.814 |
|
|
|
|
|
|
long-term borrowings |
45.685 |
16.940 |
24.354 |
|
Short term borrowings |
2.400 |
4.760 |
7.888 |
|
Total
borrowings |
48.085 |
21.700 |
32.242 |
|
Debt/Equity
ratio |
2.405 |
1.041 |
1.478 |
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 |
185.706 |
314.528 |
342.161 |
|
|
|
69.369 |
8.786 |
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 |
185.706 |
314.528 |
342.161 |
|
Profit |
0.626 |
0.852 |
0.967 |
|
|
0.34% |
0.27% |
0.28% |
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 |
No |
|
17 |
Details of sister concerns |
No |
|
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 has been shifted from 18 Blue Moon Society, Off. New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India to the present address w.e.f. 15.04.2008
OPERATIONS
The turnover for the year under review is Rs. 342.100 Million as
compared to Rs. 314.500 Million in the previous year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loan from
Related parties |
|
|
|
Loan from
Shareholders |
|
|
|
Magnawati Agarwal |
1.886 |
1.429 |
|
Preeti Agarwal |
5.505 |
0.014 |
|
Sanjay Kumar Agarwal |
3.437 |
0.112 |
|
Sanjay Kumar Vishesh Kumar Agarwal HUF |
2.905 |
2.510 |
|
Sundarlal Sanjay Kumar HUF |
3.588 |
0.891 |
|
Vishesh Agarwal |
0.638 |
0.122 |
|
Other
Shareholders |
|
|
|
Mahendra Kumar Sihani |
2.650 |
2.550 |
|
Ramesh Kumar Damani HUF |
2.500 |
5.812 |
|
Usha M. Bihani |
0.000 |
3.500 |
|
Loan from Unrelated
Parties : |
|
|
|
Splash Multimedia Limited |
1.035 |
0.000 |
|
Vista Websoft Private Limited |
0.210 |
0.000 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Darpan Publication Private Limited |
1.822 |
2.564 |
|
Ramesh R. Mehta |
0.000 |
0.500 |
|
Solas Multimedia Limited |
0.000 |
0.934 |
|
S R Polyarnpex Private Limited |
0.000 |
0.762 |
|
Vaison Enterprises |
4.000 |
0.000 |
|
Ekaybee International Private Limited |
1.926 |
0.000 |
|
Total |
32.104 |
21.700 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90365843 |
09/05/2014 * |
70,000,000.00 |
Axis Bank Limited |
Ground Floor, Axis House,, Bombay Dyeing Mills Co |
C05659677 |
FIXED ASSETS
·
Computer
·
Office equipment
·
Air Conditioner
·
Furniture and Fixture
·
Motor Car
·
Mobile Phone
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 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.65.15 |
|
|
1 |
Rs.100.53 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.