MIRA INFORM REPORT
|
Report No. : |
341848 |
|
Report Date : |
21.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
DOEHLER INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 3, Survey No. 285, Raisoni Industrial Park, Mann Mulshi Hinjewadi,
Pune-411027, Maharashtra |
|
Tel. No.: |
91-20-22939341 / 66744646 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.12.1992 |
|
|
|
|
Com. Reg. No.: |
11-018993 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.218.574 Million |
|
|
|
|
IEC No.: |
0493004696 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15440PN1992PTC018993 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED03119E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD2157N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Sale of Concentrates and Ingredients For
Beverage Industry. |
|
|
|
|
No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Deohler Gmbh”, Germany. It is
having satisfactory track. Rating takes into consideration sound financial risk profile of the
company marked by adequate net worth base and comfortable gearing in
financial year 2014. Management has reported decent growth in its revenue base along with fair
profit margin in the year under consideration. However, net profit has
declined over previous year. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of managerial and technical support from its parent company,
the subject 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.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sammer Chandan |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-20-66744641 |
|
Date : |
19.09.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 3, Survey No. 285, Raisoni Industrial Park, Mann Mulshi
Hinjewadi, Pune-411027, Maharashtra, India |
|
Tel. No.: |
91-20-22939341 / 66744646 |
|
Fax No.: |
91-20-66520251 / 66744610 / 22933073 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
Located at:
|
DIRECTORS
As on 24.09.2014
|
Name : |
Mr. Tanay Srivastav |
|
Designation : |
Managing Director |
|
Address : |
43, Vascon Paradise, |
|
Date of Birth/Age : |
04.07.1972 (41 Years) |
|
Qualification : |
B.Com |
|
Experience : |
20 Years |
|
Date of Appointment : |
01.01.2005 |
|
PAN No.: |
ABOPS1968C |
|
DIN No.: |
00008575 |
|
|
|
|
Name : |
Mr. Milind Mahajan |
|
Designation : |
Alternate Director |
|
Address : |
A-2/201, Kalpataru Enclave, |
|
Date of Birth/Age : |
16.12.1962 |
|
Date of Appointment : |
21.06.2005 |
|
PAN No.: |
AADPM3372N |
|
DIN No.: |
00055536 |
|
|
|
|
Name : |
Mr. Kurt Hufnagel |
|
Designation : |
Director |
|
Address : |
Am Hopfengarten 4, 64295, |
|
Date of Birth/Age : |
30.12.1952 |
|
Date of Appointment : |
29.06.2005 |
|
DIN No.: |
00489302 |
KEY EXECUTIVES
|
Name : |
Mr. Sammer Chandan |
|
Designation : |
Finance Controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Dohler GmbH, Germany |
|
21856410 |
|
Tanay Srivastav |
|
1000 |
|
Total |
|
21857410 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2014
|
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 |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Sale of Concentrates and Ingredients For
Beverage Industry. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
70 (Approximately) |
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Bankers : |
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Auditors : |
|
|
Name : |
Sharp and Tannan Associates Chartered Accountants |
|
Address : |
802,Lloyds Chambers, Dr. Ambedkar Road, Opposite Ambedkar Bhavan,
Pune-411011, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFS1034J |
|
|
|
|
Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
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|
Fellow Subsidiary : |
|
CAPITAL STRUCTURE
After 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity Shares |
Rs.10/- each |
Rs.320.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity Shares |
Rs.10/- each |
Rs.320.000
Million |
|
|
|
|
|
As on 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity Shares |
Rs.10/- each |
Rs.320.000 Million |
|
|
|
|
|
Issued, Subscribed and Paid Up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21857410 |
Equity Shares |
Rs.10/- each |
Rs.218.574 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 |
218.574 |
218.574 |
218.574 |
|
(b) Reserves & Surplus |
287.498 |
257.866 |
225.079 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
|
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
506.072 |
476.440 |
443.653 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
137.130 |
115.101 |
127.572 |
|
(b) Deferred tax liabilities
(Net) |
19.100 |
20.360 |
16.780 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.414 |
0.398 |
27.264 |
|
Total
Non-current Liabilities (3) |
156.644 |
135.859 |
171.616 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
115.563 |
152.558 |
100.203 |
|
(c) Other current liabilities |
52.602 |
67.710 |
37.440 |
|
(d) Short-term provisions |
0.021 |
0.014 |
0.875 |
|
Total
Current Liabilities (4) |
168.186 |
220.282 |
138.518 |
|
|
|
|
|
|
TOTAL |
830.902 |
832.581 |
753.787 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
364.159 |
365.282 |
308.311 |
|
(ii) Intangible Assets |
0.838 |
0.912 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
1.763 |
4.084 |
|
(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 |
5.917 |
5.675 |
5.405 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
370.914 |
373.632 |
317.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
201.234 |
209.474 |
191.142 |
|
(c) Trade receivables |
168.536 |
147.908 |
124.102 |
|
(d) Cash and cash equivalents |
52.292 |
48.395 |
63.944 |
|
(e) Short-term loans and
advances |
37.926 |
52.282 |
56.248 |
|
(f) Other current assets |
0.000 |
0.890 |
0.551 |
|
Total
Current Assets |
459.988 |
458.949 |
435.987 |
|
|
|
|
|
|
TOTAL |
830.902 |
832.581 |
753.787 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
774.255 |
744.957 |
|
|
|
Other Income |
36.747 |
28.836 |
|
|
|
TOTAL |
811.002 |
773.793 |
558.760 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
748.126 |
710.792 |
460.050 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
62.876 |
63.001 |
98.710 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
17.314 |
14.685 |
7.670 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
45.562 |
48.316 |
91.040 |
|
|
|
|
|
|
|
Less |
TAX |
15.930 |
15.530 |
33.920 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
29.632 |
32.786 |
57.120 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
216.596 |
183.810 |
126.690 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
246.228 |
216.596 |
183.810 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
201.623 |
156.140 |
13.907 |
|
|
TOTAL
EARNINGS |
201.623 |
156.140 |
13.907 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
168.279 |
161.567 |
0.000 |
|
|
Capital Goods |
2.075 |
6.392 |
0.000 |
|
|
TOTAL
IMPORTS |
170.354 |
167.959 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.36 |
1.5 |
2.61 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
1000.000 |
|
|
|
|
|
Expected Sales (2015-2016) : Rs.1300.000 Million
The above information has been denied by Mr. Sameer Chandan (Finance
Controller)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
19.460 |
41.395 |
18.225 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
(3.584) |
9.597 |
76.353 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.83 |
4.40 |
10.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.48 |
5.82 |
12.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.10 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
0.33 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.73 |
2.08 |
3.15 |
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 |
218.574 |
218.574 |
218.574 |
|
Reserves & Surplus |
225.079 |
257.866 |
287.498 |
|
Net
worth |
443.653 |
476.440 |
506.072 |
|
long-term borrowings |
127.572 |
115.101 |
137.130 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long-Term Debts |
18.225 |
41.395 |
19.460 |
|
Total
borrowings |
145.797 |
156.496 |
156.590 |
|
Debt/Equity
ratio |
0.329 |
0.328 |
0.309 |
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 |
558.760 |
773.794 |
811.002 |
|
|
|
38.484 |
4.809 |
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 |
558.760 |
773.794 |
811.002 |
|
Profit |
57.120 |
61.623 |
66.379 |
|
|
10.22% |
7.96% |
8.18% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
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 |
OPERATIONS
During the year under consideration, the turnover of the Company has been satisfactory, the Directors hope for better financial results in the current year.
Nature of Operations:
Doehler India Private Limited is a subsidiary of Dohler GmbH, Germany (Holding Company) is engaged in the manufacture and supply of ingredients, flavours and fruit juice concentrates.
Operational Outlook:
The Company has accumulated profits of Rs.246227 Million as against its equity share capital of Rs.218.574 Million as at March 31, 2014.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long Term
Borrowings |
|
|
|
Borrowings from foreign Companies |
137.130 |
115.101 |
|
|
|
|
|
Total |
137.130 |
115.101 |
INDEX
OF CHARGES
No Charges Exist for Company
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Demand in CST Assessment FY. 2006-07 (Appeal Pending) |
1.402 |
1.402 |
|
Demand in CST Assessment FY. 2009-10 (Appeal Pending) |
3.950 |
-- |
FIXED ASSETS
- Land
- Buildings
- Office building
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Computer software
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 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.66.70 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.