MIRA INFORM REPORT
|
Report No. : |
347147 |
|
Report Date : |
29.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
PERRIGO LABORATORIES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. N-39, and Plot N-39/1, Additional, Ambernath MIDC, Anand
Nagar, Ambernath (East), Thane – 421506, Maharashtra |
|
Tel. No.: |
91-251-3983420 / 28 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.02.2005 |
|
|
|
|
Com. Reg. No.: |
11-240217 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.131 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2005PTC240217 |
|
|
|
|
IEC No.: |
0905000391 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP5015A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the activities related to Research, Development,
Sourcing, Testing in the field of Pharmaceutical and Nutritional Products. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 380000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated on 23rd February, 2005. It is a
subsidiary of “Perrigo International Inc”, USA. It has fine track record. The company is operating on its owned funds. Further, it possesses a
healthy financial risk profile marked by adequate networth base along with
fair liquidity and profitability. Trade relations are fair. Business is active. Payment are reported to
be regular and as per commitments. 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.
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 |
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 DENIED BY
|
Name : |
Mr. Hitendra Shah |
|
Designation : |
Accountant |
|
Contact No.: |
91-251-3983432 |
|
Date : |
26.10.2015 |
LOCATIONS
|
Registered Office : |
Plot No. N-39, and Plot N-39/1, Additional, Ambernath MIDC, Anand
Nagar, Ambernath (East), Thane – 421506, Maharashtra, India |
|
Tel. No.: |
91-251-3983432/ 3983612 |
|
Mobile No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
Not Available |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Hendrickson John |
|
Designation : |
Director |
|
Address : |
2350, Onekama Drive, Grand Rapids, Michigan – 49506, USA |
|
Date of Birth/Age : |
09.12.1962 |
|
Date of Appointment : |
23.02.2005 |
|
DIN No.: |
00397282 |
|
Name : |
Kingma William Todd |
|
Designation : |
Director |
|
Address : |
1266, Burlington Drive Hickory Corners, Michigan – 49060, USA |
|
Date of Birth/Age : |
09.02.1960 |
|
Date of Appointment : |
27.06.2005 |
|
DIN No.: |
00397494 |
|
Name : |
Mr. Jatin Jayantilal Shah |
|
Designation : |
Director |
|
Address : |
7, Louis Court Edison, New Jersey – 08820, USA |
|
Date of Birth/Age : |
01.06.1953 |
|
Date of Appointment : |
25.09.2012 |
|
DIN No.: |
06369993 |
|
Name : |
Sumedha Sanjeev Nadkar |
|
Designation : |
Whole-Time Director |
|
Address : |
Wing A-502, Devashree Gardens, R. W. Sawant Road, Near Rutu Park, Thane - 400601, Maharashtra, India |
|
DIN No.: |
07081599 |
KEY EXECUTIVES
|
Name : |
Mr Hitendra Shah |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Perrigo International Inc., USA |
|
10336 |
|
Perrigo International Holding Inc., USA |
|
1 |
|
Perrigo Netherlands B.V. |
|
2765 |
|
Total |
|
13102 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the activities related to Research, Development,
Sourcing, Testing in the field of Pharmaceutical and Nutritional Products. |
|
|
|
|
Products : |
Not Available |
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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 : |
Not Available |
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Terms : |
Not Available |
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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||||||||||||||||||||||
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Facilities : |
-- |
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Auditors : |
|
|
Name : |
S. V. Ghatalia and Associates LLP Chartered Accountants |
|
Address : |
Oval Office, 18, Labs Centre, Hitech City, Madhapur, Hyderabad –
500081, Andhra Pradesh, India |
|
Tel. No.: |
91-40-67362000 |
|
Fax No.: |
91-40-67362200 |
|
PAN No.: |
ACHFS9181P |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
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Collaborators : |
Not Divulged |
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Ultimate Holding
Company: |
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|
|
|
Holding Company:
|
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Subsidiaries of
Ultimate Holding Company: |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13,102 |
Equity Shares |
Rs.10/- each |
Rs. 0.131 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 |
0.131 |
0.131 |
0.131 |
|
(b) Reserves & Surplus |
135.941 |
119.254 |
105.766 |
|
(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) |
136.072 |
119.385 |
105.897 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
4.535 |
5.474 |
6.572 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.977 |
3.713 |
2.701 |
|
Total Non-current Liabilities
(3) |
6.512 |
9.187 |
9.273 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
25.405 |
19.363 |
13.350 |
|
(c) Other
current liabilities |
3.558 |
4.553 |
4.686 |
|
(d) Short-term
provisions |
1.145 |
3.031 |
2.958 |
|
Total Current
Liabilities (4) |
30.108 |
26.947 |
20.994 |
|
|
|
|
|
|
TOTAL |
172.692 |
155.519 |
136.164 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
64.489 |
60.021 |
68.994 |
|
(ii)
Intangible Assets |
0.092 |
0.310 |
0.527 |
|
(iii)
Capital work-in-progress |
0.339 |
7.153 |
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 |
19.602 |
11.257 |
4.733 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
84.522 |
78.741 |
74.254 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3.506 |
5.140 |
3.091 |
|
(c) Trade
receivables |
33.727 |
15.212 |
27.527 |
|
(d) Cash
and cash equivalents |
33.446 |
31.043 |
26.010 |
|
(e)
Short-term loans and advances |
14.697 |
13.359 |
0.931 |
|
(f) Other
current assets |
2.794 |
12.024 |
4.351 |
|
Total
Current Assets |
88.170 |
76.778 |
61.910 |
|
|
|
|
|
|
TOTAL |
172.692 |
155.519 |
136.164 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
206.084 |
158.149 |
103.690 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
175.522 |
132.775 |
85.716 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
30.562 |
25.374 |
17.974 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.463 |
0.087 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
30.099 |
25.287 |
17.974 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
5.429 |
5.321 |
5.478 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
24.670 |
19.966 |
12.496 |
|
|
|
|
|
|
|
Less |
TAX |
7.984 |
6.478 |
4.520 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
16.686 |
13.488 |
7.976 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
204.647 |
157.942 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
0.000 |
|
|
Components and Stores
parts |
0.000 |
1.385 |
0.000 |
|
|
Capital Goods |
0.000 |
2.941 |
0.000 |
|
|
TOTAL IMPORTS |
0.000 |
4.326 |
0.000 |
|
|
|
|
|
|
|
|
EARNINGS / (LOSS) PER
SHARE (RS.) |
1273.55 |
1029.46 |
608.76 |
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 |
|
Cash generated from (Used) operations |
NA |
NA |
NA |
|
Cash generated from Operating Activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
8.10 |
8.53 |
7.69 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
14.83 |
16.04 |
17.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.31 |
13.46 |
9.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.17 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.93 |
2.85 |
2.95 |
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 |
0.131 |
0.131 |
0.131 |
|
Reserves & Surplus |
105.766 |
119.254 |
135.941 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
105.897 |
119.385 |
136.072 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
103.690 |
158.149 |
206.084 |
|
|
|
52.521 |
30.310 |
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
|
103.690 |
158.149 |
206.084 |
|
Profit |
7.976 |
13.488 |
16.686 |
|
|
7.69% |
8.53% |
8.10% |
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: The Registered Office
of the company has been shifted from Plot No. 2, Satyam Enclaves,
Petbasheerabad, Hyderabad – 500055, Andhra Pradesh, India to the present
address w.e.f. 31.12.2012.
CORPORATE
INFORMATION:
Perrigo Laboratories India Private Limited was incorporated IN February 23, 2005 having its registered office at Ambernath, Maharashtra, India. The Company is a subsidiary of Perrigo International Inc. USA. The company had taken over the business of India Branch Perrigo International Inc. as on April 1, 2005. The company is involved in activities related to research, development, sourcing testing in the field of pharmaceutical and nutritional products for Perrigo group companies.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10544514 |
21/11/2014 |
5,000,000.00 |
The
Hongkong and Shanghai Banking Corporation Limi |
52/60,
MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C41181678 |
FIXED ASSETS
- Land and Building
- Furniture’s and Fixtures
- Office Equipment
- Computer
- Vehicles
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. 65.22 |
|
|
1 |
Rs. 99.93 |
|
Euro |
1 |
Rs. 71.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SYL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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.