MIRA INFORM REPORT
|
Report No. : |
340505 |
|
Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORBIT LIFESCIENCE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Mehta Mahal, 15 Mathew Road, Opera House, Mumbai
– 400004, Maharashtra |
|
Tel. No.: |
91-22-23803200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.05.2003 |
|
|
|
|
Com. Reg. No.: |
11-140389 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.110 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24260MH2003PTC140389 |
|
|
|
|
IEC No.: |
0303057939 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO03665E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO6012E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Exporters of finished formulations, supply of APl’s and
raw materials and intermediates for bulk drugs. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
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 record. For the financial year ended 2014, company has achieved growth in its
revenue profile but it has failed to maintained profit margins and reported
low margins during a year under a review. However, rating takes into consideration company’s established track
record of business operations marked by sound financial base and above
average networth base of the company. Trade relations are fair. Business is active. Payment terms are reported
to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 DENIED BY
|
Name : |
Mr. Mukesh Joshi |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-23803200 |
|
Date : |
09.09.2015 |
LOCATIONS
|
Registered Office : |
7th Floor, Mehta Mahal, 15 Mathew Road, Opera House, Mumbai
– 400004, Maharashtra, India |
|
Tel. No.: |
91-22-23803200 |
|
Fax No.: |
91-22-23803202 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Amit Arvind Sheth |
|
Designation : |
Director |
|
Address : |
701, Vastu Shilp, Gamadia Colony Lane, Tardeo, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth : |
12.01.1979 |
|
Date of Appointment : |
09.05.2003 |
|
PAN No.: |
ABAPS6983K |
|
DIN No.: |
00054012 |
|
|
|
|
Name : |
Mr. Arvind Bhupatrai Sheth |
|
Designation : |
Director |
|
Address : |
701, Vastu Shilp, Gamadia Colony Lane, Tardeo, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth : |
09.05.1950 |
|
Date of Appointment : |
09.05.2003 |
|
PAN No.: |
AAHPS9944A |
|
DIN No.: |
00053848 |
|
|
|
|
Name : |
Mr. Ashish Arvind Sheth |
|
Designation : |
Director |
|
Address : |
701, Vastu Shilp, Gamadia Colony Lane, Tardeo, Mumbai -400007,
Maharashtra, India |
|
Date of Birth : |
19.06.1981 |
|
Date of Appointment : |
09.05.2003 |
|
PAN No.: |
AMFPS9712A |
|
DIN No.: |
00053919 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh Joshi |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Arvind B. Sheth |
27270 |
27.27 |
|
Amit Arvind Sheth |
22730 |
22.73 |
|
Ashish Arvind Sheth |
22730 |
22.73 |
|
Shreya Amit Sheth |
9090 |
9.09 |
|
Meena Arvind Sheth |
9090 |
9.09 |
|
Mamta Ashish Sheth |
9090 |
9.09 |
|
|
|
|
|
Total |
100000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Exporters of finished formulations, supply of APl’s and
raw materials and intermediates for bulk drugs. |
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Products : |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
· ING Vysya Bank Limited, Ground Floor, G-34, Aderbad Building, Hughes Road, Mumbai - 400007, Maharashtra, India · Standard Chartered Bank, SME Credit, Crescenzo, 3A/F, Plot No. C-38 & 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra, India · Bank of Baroda, Geeta Building, Pandita Ramabai Road, Mumbai – 400007, Maharashtra, India |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Valia and Timbadia Chartered Accountants |
|
Address : |
32, Trinity Chambers, 117, Bora Bazar Street, Fort, Mumbai – 400001, Maharashtra, India |
|
PAN No.: |
AABPT2277P |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Entities in which Key
Management Personnel and their Relatives have Significant Influence: |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100 |
Equity Shares |
Rs.100/- each |
Rs.0.110 Million |
|
|
|
|
|
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 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 |
0.110 |
0.110 |
0.110 |
|
(b) Reserves & Surplus |
86.730 |
75.553 |
67.183 |
|
(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) |
86.840 |
75.663 |
67.293 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
69.311 |
47.020 |
40.464 |
|
(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 |
19.240 |
21.024 |
18.951 |
|
Total Non-current
Liabilities (3) |
88.551 |
68.044 |
59.415 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
81.991 |
104.391 |
123.889 |
|
(b) Trade
payables |
258.010 |
274.915 |
420.585 |
|
(c) Other
current liabilities |
0.789 |
0.856 |
2.337 |
|
(d) Short-term
provisions |
0.414 |
0.095 |
0.047 |
|
Total Current
Liabilities (4) |
341.204 |
380.257 |
546.858 |
|
|
|
|
|
|
TOTAL |
516.595 |
523.964 |
673.566 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
21.879 |
24.419 |
23.771 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.277 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.771 |
4.771 |
4.770 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
50.514 |
50.260 |
41.725 |
|
(e) Other
Non-current assets |
0.006 |
0.006 |
0.006 |
|
Total Non-Current
Assets |
78.447 |
79.456 |
70.272 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
17.770 |
24.538 |
39.593 |
|
(c) Trade
receivables |
409.144 |
416.598 |
560.400 |
|
(d) Cash
and cash equivalents |
9.958 |
2.586 |
2.670 |
|
(e)
Short-term loans and advances |
1.034 |
0.652 |
0.329 |
|
(f) Other
current assets |
0.242 |
0.134 |
0.302 |
|
Total
Current Assets |
438.148 |
444.508 |
603.294 |
|
|
|
|
|
|
TOTAL |
516.595 |
523.964 |
673.566 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1121.160 |
1503.183 |
|
|
|
Other Income |
|
6.179 |
(2.385) |
|
|
|
TOTAL |
1327.629 |
1127.339 |
1500.798 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
1113.874 |
1473.803 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
16.703 |
26.995 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
NA |
3.238 |
2.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
13.465 |
24.623 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
5.095 |
8.695 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
11.176 |
8.370 |
15.928 |
|
|
|
|
|
|
|
|
|
Add |
Previous
Years’ Balance Brought Forward |
75.553 |
67.183 |
51.255 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
86.729 |
75.553 |
67.183 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
3.631 |
0.657 |
|
|
TOTAL IMPORTS |
NA |
3.631 |
0.657 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
7609.10 |
15.928 |
|
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 |
|
Net Profit Margin PAT / Sales |
(%) |
NA |
0.75 |
1.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
NA |
2.59 |
3.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.18 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.74 |
2.00 |
2.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.17 |
1.10 |
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 |
0.110 |
0.110 |
0.110 |
|
Reserves & Surplus |
67.183 |
75.553 |
86.730 |
|
Net
worth |
67.293 |
75.663 |
86.840 |
|
|
|
|
|
|
long-term borrowings |
40.464 |
47.020 |
69.311 |
|
Short term borrowings |
123.889 |
104.391 |
81.991 |
|
Total
borrowings |
164.353 |
151.411 |
151.302 |
|
Debt/Equity
ratio |
2.442 |
2.001 |
1.742 |
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 |
|
Total
Income |
1500.798 |
1127.339 |
1327.629 |
|
|
|
(24.884) |
17.767 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total
Income |
1500.798 |
1127.339 |
1327.629 |
|
Profit |
15.928 |
8.370 |
11.176 |
|
|
1.06% |
0.74% |
0.84% |
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 |
Yes |
|
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 |
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% |
-- |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Loans and
advances from related parties |
69.311 |
47.020 |
|
|
|
|
|
Total |
69.311 |
47.020 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10468708 |
23/05/2014 * |
210,000,000.00 |
ING Vysya Bank Limited |
Ground Floor, G-34, Aderbad Building, Hughes Road, Mumbai, Maharashtra - 400007, India |
C20559001 |
*Date of modification Charges
FIXED ASSETS:
· Computer
· Office equipment
· Air conditioner
· Motor car (Swift)
· Motor car (Desire)
· Motor car (Toyota Altis)
· Motor Car (Santro Zip Plus)
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.66.29 |
|
|
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.