MIRA INFORM REPORT

 

 

Report No. :

340761

Report Date :

16.09.2015

 

IDENTIFICATION DETAILS

 

Name :

NIBBER CASTINGS PRIVATE LIMITED

 

 

Registered Office :

C-94, Phase VII, Focal Point, Industrial Area, S.A.S. Nagar, Mohali – 160055, Punjab

Tel. No.:

91-172-5008900

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

03.01.1996

 

 

Com. Reg. No.:

16-017505

 

 

Capital Investment / Paid-up Capital :

Rs.23.500 Million

 

 

CIN No.:

[Company Identification No.]

U27107PB1996PTC017505

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Grey cast Iron Automobile Casting especially Tractor parts, Auto products.

 

 

No. of Employees :

200 (Approximately)

 

 

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

 

Maximum Credit Limit :

USD 170000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track. It is a part of Pritika group of companies. 

 

Management has reported decent growth in its sales turnover along with fair net profit margin in FY14.

 

Rating takes into consideration above average financial risk profile of the company marked by adequate networth base along with slightly high external borrowings.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In view of long track record of business operations along with fair financial condition, the company can be considered for business dealings with 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

CRISIL

Rating

Long term rating = BB

Rating Explanation

Inadequate credit quality and high credit risk.

Date

23.06.2015

 

 

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 (GENERAL DETAILS)

 

Name :

Ms. Ashwini Kumar Chopra

Designation :

Senior Manager in Finance

Contact No.:

91-172-5008900

Date :

15.09.2015

 

LOCATIONS

 

Registered Office :

C-94, Phase VII, Focal Point, Industrial Area, S.A.S. Nagar, Mohali – 160055, Punjab, India

Tel. No.:

91-172-5008900

Fax No.:

Not Available

E-Mail :

rcsaini@pritikagroup.com

Website :

http://www.pritikagroup.com

 

 

Factory/ Plant :

Village Saido Major, Near Dera Bassi, District Mohal – 140307, Punjab, India 

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Harpreet Singh Nibber

Designation :

Whole-Time Director

Address :

House No. 1021, Phase-4, Sas Nagar, Mohali, 160059, Punjab, India

Date of Birth/Age :

13.10.1971

Date of Appointment :

02.09.2013

DIN No.:

00239042

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

U27107PB1996PTC017505

NIBBER CASTINGS PRIVATE LIMITED

Whole-time director

2/9/2013

3/1/1996

-

Active

NO

2

U74899DL1989PTC038528

PRITIKA AUTO PRODUCTS PRIVATE LIMITED

Director

1/7/1996

1/7/1996

1/9/2011

Active

NO

3

U34300PB1997PLC038216

PRITIKA INDUSTRIES LIMITED

Director

31/05/2014

1/7/1997

-

Active

NO

4

L34300HP2005PLC029149

PRITIKA AUTOCAST LIMITED

Managing director

1/6/2014

7/11/2005

-

Active

NO

 

 

Name :

Mr. Raminder Singh Nibber

Designation :

Whole-Time Director

Address :

House No. 1021, Phase- Iv, Sas Nagar, Mohali, 160059, Punjab, India

Date of Birth/Age :

04.08.1941

Date of Appointment :

02.09.2013

DIN No.:

00239117

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

U74899DL1989PTC038528

PRITIKA AUTO PRODUCTS PRIVATE LIMITED

Managing director

4/12/1989

4/12/1989

1/9/2011

Active

NO

2

U27107PB1996PTC017505

NIBBER CASTINGS PRIVATE LIMITED

Whole-time director

2/9/2013

3/1/1996

-

Active

NO

3

U34300PB1997PLC038216

PRITIKA INDUSTRIES LIMITED

Managing director

1/6/2014

1/7/1997

-

Active

NO

4

L34300HP2005PLC029149

PRITIKA AUTOCAST LIMITED

Director

31/05/2014

7/11/2005

-

Active

NO

5

U00082PB2005PTC029282

MOHALI INFRASTRUCTURES PRIVATE LIMITED

Director

30/09/2011

2/12/2005

-

Strike off

NO

6

U70100PB2006PTC029459

MIL HOUSING PRIVATE LIMITED

Director

30/09/2009

30/04/2009

-

Strike off

NO

7

U00082PB2005PTC029307

MIL COLONISERS PRIVATE LIMITED

Director

30/09/2009

27/06/2009

-

Strike off

NO

 

 

KEY EXECUTIVES

 

Name :

Ms. Ashwini Kumar Chopra

Designation :

Senior Manager in Finance

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Raminder Singh Nibber

 

422420

Harpreet Singh Nibber

 

517020

Rishi Nibber

 

70000

Pritika Industries Limited, India

 

1140000

Gurkaran Singh Nibber

 

200000

Gurpreet Singh

 

300

Sudesh Saini

 

100

Neelam Rai

 

100

Harinder Pal Signh Billa

 

100

Avtar Singh

 

10

Jasleen Narang

 

10

Total

 

2350060

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

48.50

Directors or relatives of Directors

51.48

Other top fifty shareholders

0.02

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Grey cast Iron Automobile Casting especially Tractor parts, Auto products.

 

 

Products :
  • Grey Cast Iron
  • Automobile Casting
  • Tractor Parts
  • Auto Products etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cheque

 

 

Purchasing :

Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Mukul Steel

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End User and Manufacturer

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

200 (Approximately)

 

 

Bankers :
  • Canara Bank,  Sco 167-168, Sector 8-C, Chandigarh - 160008, India

 

  • IDBI Bank Limited, Sco 72-73, Second Floor, Sector 17-B, Chandigarh - 160017, India

 

Banker Name

Canara Bank Limited

Branch Address

Mcb Branch, Sector 34 A, Chandigarh - 160034, 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 Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loan From Bank

35.985

9.953

SHORT TERM BORROWING

 

 

Loans repayable on Demand

131.141

108.393

Total

167.126

118.346

 

Auditors :

 

Name :

A.K.Sood and Associates

Chartered Accountants

Address :

SCO 126-127, Second Floor, Sector 8-C, Chandigarh – 160018, India

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

AAFFA9576N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates Company :
  • M/s. Pritika Industries Limited

 

 

Related Company:
  • M/s. Pritika Autocast Private Limited, India

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2500000

Equity Shares

Rs.10/- each

Rs.25.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2350060

Equity Shares

Rs.10/- each

Rs.23.500 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

23.500

10.800

10.800

(b) Reserves & Surplus

43.676

44.465

36.096

(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)

67.176

55.265

46.896

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

37.157

59.697

63.273

(b) Deferred tax liabilities (Net)

7.273

6.687

5.657

(c) Other long term liabilities

0.000

26.858

11.634

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

44.430

93.242

80.564

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

131.141

108.392

81.787

(b) Trade payables

49.007

22.464

28.239

(c) Other current liabilities

54.263

42.272

27.005

(d) Short-term provisions

5.489

5.841

3.003

Total Current Liabilities (4)

239.900

178.969

140.034

 

 

 

 

TOTAL

351.506

327.476

267.494

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

104.524

109.421

100.380

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

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

104.524

109.421

100.380

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

153.306

116.055

89.284

(c) Trade receivables

72.080

81.332

60.288

(d) Cash and cash equivalents

10.045

8.838

5.720

(e) Short-term loans and advances

7.960

7.670

8.634

(f) Other current assets

3.591

4.160

3.188

Total Current Assets

246.982

218.055

167.114

 

 

 

 

TOTAL

351.506

327.476

267.494

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

490.305

430.807

344.904

 

Other Income

 NA

0.361

0.383

 

TOTAL (A)

 NA

431.168

345.287

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

336.068

269.020

 

Decrease/ (Increase) in WIP

 

(10.016)

(15.102)

 

Employees benefits expense

 NA

12.495

11.166

 

Other expenses

 

43.903

36.656

 

TOTAL (B)

 

382.450

301.740

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

48.231

48.718

43.547

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

23.374

21.593

20.038

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

24.857

27.125

23.509

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

8.167

12.128

9.637

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

16.690

14.997

13.872

 

 

 

 

 

Less

TAX (H)

5.725

6.498

3.670

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

10.965

8.499

10.202

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

4.74

7.87

9.45

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

6.343

5.042

5.332

Cash generated from operations

58.597

10.058

NA

Net cash flows from (used in) operating activities

53.126

7.266

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.24

1.97

2.96

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

9.84

11.31

12.63

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.75

4.58

5.19

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.25

0.27

0.30

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.60

3.13

3.21

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.03

1.22

1.19

 

 

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

10.800

10.800

23.500

Reserves & Surplus

36.096

44.465

43.676

Net worth

46.896

55.265

67.176

 

 

 

 

long-term borrowings

63.273

59.697

37.157

Short term borrowings

81.787

108.392

131.141

Current maturities of long-term debts

5.332

5.042

6.343

Total borrowings

150.392

173.131

174.641

Debt/Equity ratio

3.207

3.133

2.600

 

 

 

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

344.904

430.807

490.305

 

 

24.906

13.811

 

 

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

344.904

430.807

490.305

Profit

10.202

8.499

10.965

 

2.96%

1.97%

2.24%

 

 

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

Yes

18

Major suppliers

Yes

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

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

 

 

 

 

RESULTS OF THE OPERATIONS:

 

During the year, the company has achieved turnover (net of excise and taxes) of Rs.490.305 Million against Rs.430.87 Million in the previous year, increased by 13.81%. The company earned Net Profit before tax Rs.16.690 Million against Rs.14.997 during previous year an increase of 11.29% Cash profit is calculated at Rs. 24.848 Million. The EPS comes to Rs.0.474 Million.

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loan From Others

0.314

31.778

Loans and advances from related parties

0.857

17.965

Total

1.171

49.743

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10157918

05/03/2013 *

265,900,000.00

CANARA BANK

SCO 167-168, SECTOR 8-C, CHANDIGARH - 
160017, INDIA

B72515349

2

90173959

10/03/2014 *

174,905,000.00

CANARA BANK

MCB BRANCH, SECTOR 34 A, CHANDIGARH - 
160034, INDIA

C00735902

 

* Date of charge modification

 

 

FIXED ASSETS

 

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 records 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.66.44

UK Pound

1

Rs.102.41

Euro

1

Rs.75.05

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

0

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--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

YES

--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

 

--

 

 

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.