MIRA INFORM REPORT

 

 

Report No. :

338728

Report Date :

01.09.2015

 

IDENTIFICATION DETAILS

 

Name :

BALAJI BUILDING TECHNOLOGIES PRIVATE LIMITED (w.e.f. 02.07.2013)

 

 

Formerly Known As :

BALAJI SAFETY GLASS (INDIA) PRIVATE LIMITED

 

BALAJI SECURE GLASS INDIA PRIVATE LIMITED

 

 

Registered Office :

Survey No.12, Byagadadenahalli, Cahndapura-Anekal Road, Anekal Taluk, Bangalore Rural District, Bangalore-562106, Karnataka

Mob. No.:

91-9739980829 (Mr. Prasad)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.05.2003

 

 

Com. Reg. No.:

08-031990

 

 

Capital Investment / Paid-up Capital :

Rs. 40.545 Million

 

 

CIN No.:

[Company Identification No.]

U26101KA2003PTC031990

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRB05452G

 

 

PAN No.:

[Permanent Account No.]

AACCB4013H

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Importer of UPVC Doors and Windows, Aluminium Doors and Windows, Facada etc.

 

 

No. of Employees :

300 (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

 

Maximum Credit Limit :

USD 519000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is established company satisfactory track record.

 

The rating on company reflects healthy financial risk profile, healthy capital structure, improved cash and cash equivalent marked by comfortable debt protection metrics.

 

Rating further drive strength from the long track record of the company and experienced promoters into it business.

 

This rating is partially offset by susceptibility of margin to the fluctuating raw material prices resulting lowering the profit margin of the company in FY-14.

 

However, trade relation are fair. Business is active. Payment terms are reported to be usually 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.

 

 

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

 

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 31-03-2013.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. M. V. Sudhir

Designation :

Chief Commercial Officer

Contact No.:

91-9739980827

Date :

28.08.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Survey No.12, Byagadadenahalli, Cahndapura-Anekal Road, Anekal Taluk, Bangalore Rural District, Bangalore-562106, Karnataka, India

Tel. No.:

Not Available

Mobile No.:

91-9739980829 (Mr. Prasad)

91-9739980827 (Mr. M. V. Sudhir)

Fax No.:

Not Available

E-Mail :

nagarajugl@yahoo.com

Website :

http://www.balajibt.com

Area :

5.5 Acers

Location :

Owned

Locality :

Commercial cum Residential

 

 

Corporate Office :

3rd Floor, Uma Admirality, Above HDFC Bank, Near Sagar Hospital, Bannergatta Road,  Bangalore-560029, Karnataka, India

E-Mail :

info@balajibt.com

Location :

Rented

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Konidala Balaji

Designation :

Managing Director

Address :

18-30 3rd Cross 18th Main, Btm 2nd Stage , Bangalore-560076, Karnataka, India

Date of Birth/Age :

04.06.1965

Date of Appointment :

23.04.2004

DIN No.:

01667476

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U26101KA2003PTC031990

BALAJI BUILDING TECHNOLOGIES PRIVATE LIMITED

Managing director

23-04-2004

23-04-2004

-

Active

NO

2

U93000DL2009NPL196090

FEDERATION OF SAFETY GLASS

Director

17-11-2009

17-11-2009

-

Active

NO

3

U40108KA2011PTC056664

BALAJI RENEWABLE ENERGIES (INDIA) PRIVATE LIMITED

Director

18-01-2011

18-01-2011

31-01-2014

Active

NO

 

 

Name :

Mr. Prahlada Vinutha

Designation :

Director

Address :

No 18-30 3rd B Cros, 18th Main BTM Layout 2nd Stage, Bangalore-560076, Karnataka, India

Date of Birth/Age :

16.05.1991

Date of Appointment :

23.04.2007

DIN No.:

01667507

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U26101KA2003PTC031990

BALAJI BUILDING TECHNOLOGIES PRIVATE LIMITED

Director

23-04-2007

23-04-2007

-

Active

NO

2

U40108KA2011PTC056664

BALAJI RENEWABLE ENERGIES (INDIA) PRIVATE LIMITED

Director

18-01-2011

18-01-2011

31-01-2014

Active

NO

 

 

Name :

Mr. Thumati Naidu Prahlada

Designation :

Director

Address :

No 85-4/1 8th Cross Wilson Garden, Bangalore, Bangalore-560027, Karnataka, India

Date of Birth/Age :

21.06.1938

Date of Appointment :

21.07.2004

DIN No.:

05122010

 

 

KEY EXECUTIVES

 

Name :

Mr. M. V. Sudhir

Designation :

Chief Commercial Officer

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

Names of Shareholders

No. of Shares

 

Konidala Balaji

2200355

Prahlada Vinutha

914571

Thumati Naidu Prahlada

216556

Muniswamy Santha Kumari

198012

Vishnu Kommini

175000

Varsha Balaji Konidala

175000

Vandana Balaji Konidala

175000

Total

4054494

 

 

AS ON 29.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Importer of UPVC Doors and Windows, Aluminium Doors and Windows, Facada etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

Raw Material

Countries :

·         China

·         Gulf Countries

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturer

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

300 (Approximately)

 

 

Bankers :

Bank Name:

Kotak Mahindra Bank Limited

Branch:

Vet School and Polytechnic, No.18,14th Main, 13th Cross, J.P. Nagar II Phase, Bangalore - 560078, Karnataka, 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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         State Bank of India

SSI Branch, J.P. Nagar, Bangalore - 560078, Karnataka, India

 

·         HDFC Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

From Banks

 

 

Yes Bank

0.000

31.603

ING Vysya Bank

49.365

0.000

From Banks-Vehicle Loans

 

 

ICICI Bank

2.553

3.650

SBI Bank

0.000

1.152

Kotak Mahindra Bank

0.904

1.150

 

 

 

Loans and Advances from Directors and share holders

25.444

14.536

Other loans and advances

0.000

0.000

Payable to capital creditors

0.000

8.454

Long term Advances from customers

2.500

3.500

Inter Corporate Deposits

0.000

7.500

 

 

 

SHORT TERM BORROWINGS

 

 

Working capital Loan from Banks

 

 

Overdraft-State Bank of India

0.000

28.605

Overdraft-Yes Bank

0.000

1.225

Overdraft-ING Vysys Bank

77.248

0.000

Overdraft-Andhra Bank

4.296

0.000

Total

162.310

101.375

 

Banking Relations :

--

 

 

Auditors :

 

Name :

C Venkatesulu

Chartered Accountants

Address :

No. 391, 9th Cross, 2nd Block, Jayanagar, Bangalore-560011, Karnataka, India

Tel. No.:

91-80-25568611

E-Mail :

cvenkatesulufca@gmail.com

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

AAHPV9252E

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

6000000

Equity Shares

Rs. 10/- each

Rs. 60.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4054494

Equity Shares

Rs. 10/- each

Rs. 40.545 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

40.545

40.545

40.545

(b) Reserves & Surplus

140.932

139.502

136.289

(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)

181.477

180.047

176.834

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

102.907

81.438

33.061

(b) Deferred tax liabilities (Net)

0.000

0.000

-5.494

(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)

102.907

81.438

27.567

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

81.544

29.830

31.171

(b) Trade payables

52.629

53.482

17.887

(c) Other current liabilities

7.603

12.765

14.101

(d) Short-term provisions

7.762

8.529

1.667

Total Current Liabilities (4)

149.538

104.606

64.826

 

 

 

 

TOTAL

433.922

366.091

269.227

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

213.876

202.950

202.535

(ii) Intangible Assets

7.554

10.072

0.000

(iii) Capital work-in-progress

1.860

20.855

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)

6.087

5.250

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

229.377

239.127

202.535

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

112.863

56.964

24.475

(c) Trade receivables

72.855

48.931

33.913

(d) Cash and cash equivalents

10.231

8.912

3.566

(e) Short-term loans and advances

3.605

3.427

0.099

(f) Other current assets

4.991

8.730

4.639

Total Current Assets

204.545

126.964

66.692

 

 

 

 

TOTAL

433.922

366.091

269.227

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

INCOME

NA

181.971

177.572

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX)

NA

4.637

0.225

 

 

 

 

 

Less

TAX                                                                 

NA

1.424

0.633

 

 

 

 

 

 

PROFIT AFTER TAX

1.430

3.213

(0.408)

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.35

0.79

(0.10)

 

 

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 used in Operations

NA

NA

NA

 

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

0.00

1.36

0.08

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.00

0.03

0.00

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.02

0.62

0.36

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.37

1.21

1.03

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

 

 

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

40.545

40.545

40.545

Reserves & Surplus

136.289

139.502

140.932

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

176.834

180.047

181.477

 

 

 

 

Long-term borrowings

33.061

81.438

102.907

Short term borrowings

31.171

29.830

81.544

Total borrowings

64.232

111.268

184.451

Debt/Equity ratio

0.363

0.618

1.016

 

 

 

 

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

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 two 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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10550172

29/12/2014

89,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST
, MUMBAI- 400013, MAHARASHTRA, INDIA

C44118727

2

10455578

03/11/2014 *

161,298,000.00

ING VYSYA BANK LIMITED

233,9TH MAIN ROAD,, III BLOCK,JAYANAGAR,, BANGALORE- 560011, KARNATAKA, INDIA

C44047736

3

10455574

03/11/2014 *

141,298,000.00

ING VYSYA BANK LIMITED

VET SCHOOL AND POLYTECHNIC,NO.18,, 14TH MAIN,13TH C
ROSS,J.P.NAGAR,II PHASE,, BANGALORE- 560078, KARNATAKA, INDIA

C40862922

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

From Financial Institutions-Unsecured

22.141

9.893

 

 

 

Total

22.141

9.893

 

 

CORPORATE INFORMATION:

 

Balaji Building Technologies Private Limited known as (Balaji Safety Glass (India) Private Limited) is a private limited company domiciled in India and incorporated under the Companies Act, 1956 on May 26, 2003. The company is in the business of manufacturing Glass Products.

 

During the year, the company has acquired the business of Vacker Windows, a partnership firm which is in to the business of making glass windows towards the objective of synergy benefits from forward integration of business.


FIXED ASSETS:

 

Tangible Assets

 

·         Land

·         Buildings

·         Plant and Machinery

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer and Accessories

·         Electrical Equipment

 

 

 

 

 

 

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. 66.26

UK Pound

1

  Rs. 101.99

Euro

1

Rs. 74.79

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

IND

 

 

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

4

--PROFITABILIRY

1~10

4

--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

 

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

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NB

                                       New Business

 

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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.