MIRA INFORM REPORT

 

 

Report No. :

341956

Report Date :

23.09.2015

 

IDENTIFICATION DETAILS

 

Name :

KADAKIA PLASTICS AND CHEMICALS PRIVATE LIMITED

 

 

Registered Office :

47A, Nandjyot Industrial Estate, Kurla Andheri Road Andheri (East), Mumbai – 400072, Maharashtra

Tel. No.:

91-22-28516621

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

09.01.1986

 

 

Com. Reg. No.:

11-038586

 

 

Capital Investment / Paid-up Capital :

Rs.35.000 Million

 

 

CIN No.:

[Company Identification No.]

U25200MH1986PTC038586

 

 

IEC No.:

0300064608

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMK13074F

 

 

PAN No.:

[Permanent Account No.]

AAACK4227G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of specialty PVC compounds and color masterbatches.

 

 

No. of Employees :

15 (Approximately) [Only Staff]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (32)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 110000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1986 and it is a manufacturer and exporter of specialty PVC compounds and color masterbatches.

 

For the financial year ended 2014, the company has reported moderate operational performance and its sakes turnover has declined by 11.24% as compared to previous year sales turnover.

 

Rating further constrained on account of company’s moderate financial profile marked by low reserves position and moderate debt protection metrics of the company.

 

Trade relations are reported as fair. Payments are reported to be slow but correct.

 

In view of aforesaid, the company can be considered for business dealing with some caution.

 

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 31-03-2015.

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Santosh

Designation :

Accountant

Contact No.:

91-22-28516621

Date :

22.09.2015

 

 

LOCATIONS

 

Registered Office :

47A, Nandjyot Industrial Estate, Kurla Andheri Road Andheri (East), Mumbai – 400072, Maharashtra, India

Tel. No.:

91-22-28516621 / 25

Fax No.:

91-22-28516626

E-Mail :

info@kadakiaplastics.com

Website :

www.kadakiaplastics.com

Location :

Owned

Locality :

Commercial

 

 

Factory :

Plot No.15, Survey No.185/1/1, Amli,dockmardi Silvassa – 396230, Union Territory of Dadra and Nagar Haveli, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Subhash Kantilal Kadakia

Designation :

Director

Address :

42, Anu, Vithal Nagar Society, 11th Road, JVPD Scheme, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

27.09.1947

Date of Appointment :

09.01.1986

DIN No.:

00364149

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

Company/ LLP Status

Defaulting status

1

U25200MH1986PTC038586

KADAKIA PLASTICS AND CHEMICALS PVT LTD

Director

09/01/1986

09/01/1986

Active

NO

2

L24100MH1985PLC037387

TAINWALA CHEMICALS AND PLASTICS (INDIA) LTD

Director

24/09/2014

19/11/1987

Active

NO

 

 

Name :

Mr. Vishal Subhash Kadakia

Designation :

Director

Address :

42, Anu, Vithal Nagar Society, 11th Road, Jvpd Scheme, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

06.10.1974

Date of Appointment :

16.08.1995

DIN No.:

00364186

 

 

Name :

Mrs. Ujwala Subhash Kadakia

Designation :

Director

Address :

42, Anu, Vithal Nagar Society, 11th Road, JVPD Scheme, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

07.01.1950

Date of Appointment :

09.01.1986

DIN No.:

00364585

 

 

Name :

Mr. Deepak Ramchandra Panditrao

Designation :

Director

Address :

1/121, Suraj Bhuvan, Scheme 6, Road No. 3, Matunga, Mumbai – 400019, Maharashtra, India

Date of Birth/Age :

20.12.1952

Date of Appointment :

09.01.1986

DIN No.:

00364621

 

 

KEY EXECUTIVES

 

Name :

Mr. Santosh

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Subhash Kantilal Kadakia

140245

Subhash Kantilal Kadakia (HUF)

145426

Ujwala Subhash Kadakia

29813

Vishal Subhash Kadakia

14000

Deepak Ramchandra Panditrao

14

Meena S. Kalgutkar

15014

S. N. Rao

7

Nilam S. Rao

5467

Rashmikant n. Shah (HUF)

7

Popular Switchgear Private Limited, India

7

 

 

Total

350000

 

 

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 :

Manufacturer of specialty PVC compounds and color masterbatches.

 

 

Products :

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Goods

Countries :

European Countries

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash, Cheque

 

 

Purchasing :

Cash, Cheque

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

Alok Masterbatch Limited

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

 

·         Apar Industries Limited

·         Aroma Organics Limited

·         Bhansali Engineering Polymers Limited

·         Finolex Industries Limited

·         IRRH Speciality Chemicals India Limited

·         Jayvee Organics and Polymers Private Limited

·         H. R. Organo Chem Private Limited

·         Mas Additives Private Limited

·         Marumesa Exims Private Limited

·         Parag Pentachem Private Limited

·         Reliance Industries Limited

 

 

Customers :

Wholesalers, Retailers, End Users

 

Company Name :

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 :

15 (Approximately) [Only Staff]

 

 

Bankers :

Banker Name :

State Bank of India

Branch :

Ghatkopar (West) Branch, Development Banking, Division, L.B.S. Marg, Ashok Mill Compound, Mumbai – 400086, Maharashtra, 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 :

Not Divulged

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

Not Divulged

Account Operation :

Not Divulged

Remark :

Not Divulged

 

  • HDFC Bank Limited
  • Kotak Mahindra Bank
  • Standard Chartered Bank

 

 

Facilities :

SECURED LOANS

 

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Term loans from Banks

1.103

1.963

 

 

 

Short Term Borrowings

 

 

State Bank of India (Ghatkopar)

(Working Capital Loans from Banks Rupee Loans)

66.355

57.062

ICICI Bank OD-1887

0.891

1.406

State Bank of India-LC A/c

6.354

8.246

SBI- FD. Loan A/c - 3945 (Secured against FD)

0.000

0.973

 

 

 

Total

74.703

69.650

 

NOTES:

 

Long Term Borrowings

 

Term Loan Secured by hypothecation of All the plant and Machinery, Other Movable Assets of the Company

 

Short Term Borrowings

 

CC and Working Capital Secured by hypothecation of All the plant and Machinery, Other Movable Assets of the Company

All present and future current assets of the Company including stocks wherever stored or in transit receivables book debts claims and all other current assets.

 

 

Auditors :

 

Name :

P. H. Dave and Company

Chartered Accountants

Address :

118, Andheri Industrial Estate, Off Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India

PAN No.:

AAHFP9194M

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

350000

Equity Shares

Rs.100/- each

Rs.35.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

350000

Equity Shares

Rs.100/- each

Rs.35.000 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

35.000

35.000

35.000

(b) Reserves & Surplus

2.666

0.607

-0.746

(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)

37.666

35.607

34.254

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

21.660

19.998

9.743

(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

0.000

0.000

0.000

Total Non-current Liabilities (3)

21.660

19.998

9.743

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

73.600

67.687

77.724

(b) Trade payables

30.425

42.065

41.871

(c) Other current liabilities

7.539

9.039

8.755

(d) Short-term provisions

0.180

0.185

0.360

Total Current Liabilities (4)

111.744

118.976

128.710

 

 

 

 

TOTAL

171.070

174.581

172.707

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

27.657

30.636

32.795

(ii) Intangible Assets

2.628

2.633

2.639

(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

4.953

4.911

4.611

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

35.238

38.180

40.045

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

83.588

78.991

55.321

(c) Trade receivables

44.078

45.706

51.329

(d) Cash and cash equivalents

5.671

5.837

17.545

(e) Short-term loans and advances

2.495

5.867

8.467

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

135.832

136.401

132.662

 

 

 

 

TOTAL

171.070

174.581

172.707

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

SALES                                                             (A)

155.872

175.913

NA

 

 

 

 

 

Less

EXPENSES                                                      (B)

NA

NA

NA

 

 

 

 

 

 

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

19.717

21.938

NA

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

15.094

16.994

NA

 

 

 

 

 

 

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

4.623

4.944

NA

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

3.189

3.590

NA

 

 

 

 

 

 

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

1.434

1.354

NA

 

 

 

 

 

Less

TAX                                                                  (H)

(0.625)

0.001

NA

 

 

 

 

 

 

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

2.059

1.353

(12.660)

 

 

 

 

 

 

Earnings Per Share (Rs.)

5.88

--

--

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt (Secured)

1.320

1.322

2.068

Current Maturities of Long term debt (Unsecured)

3.427

5.073

4.302

TOTAL

4.747

6.395

6.370

 

 

 

 

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

(%)

1.32

0.77

NA

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

12.65

12.47

NA

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

0.84

0.78

NA

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.04

0.04

NA

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.66

2.64

2.74

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.22

1.15

1.03

 

 

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

35.000

35.000

35.000

Reserves & Surplus

(0.746)

0.607

2.666

Net worth

34.254

35.607

37.666

 

 

 

 

long-term borrowings

9.743

19.998

21.660

Short term borrowings

77.724

67.687

73.600

Current Maturities of Long term debt

6.370

6.395

4.747

Total borrowings

93.837

94.080

100.007

Debt/Equity ratio

2.739

2.642

2.655

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

 

31.03.2013

31.03.2014

 

 

Rs. In Million

Rs. In Million

Sales

 

175.913

155.872

 

 

 

(11.393)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

 

31.03.2013

31.03.2014

 

 

Rs. In Million

Rs. In Million

Sales

 

175.913

155.872

Profit

 

1.353

2.059

 

 

0.77%

1.32%

 

 

 

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

No

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

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, The Sales, revenue has decreased by 11.39% over the last year’s operation i.e. from Gross 175.900 million in 2012-2013 to Rs. 155.900 million in 2013-2014.

 

However, the company has earned a Net Profit of Rs 1.433 million as compared to the last year’s Profit of Rs. 1.353 million.

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Loans from Directors, Shareholders and Relatives

16.519

16.425

Loans From Others

4.038

1.610

 

 

 

Total

20.557

18.035

 

 

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10046951

20/02/2012 *

91,600,000.00

State Bank of India

Ghatkopar (West) Branch, Development Banking,, Division, L.B.S. Marg, Ashok Mill Compound,, Mumbai,
Maharashtra - 400086, India

B36850790

2

90219111

30/08/2000 *

9,500,000.00

State Bank of India

G.I.D.C. Umbergaon Branch, Valsad, Gujarat, India

-

3

90218055

07/07/1999 *

6,000,000.00

State Bank of India

G.I.D.C. Umbergaon Branch, Valsad, Gujarat - 396171, India

-

 

*Date of modification Charges

 

 

FIXED ASSETS:

 

·         Factory Building

·         Electrical Installations

·         Plant and Machinery

·         Transformer

·         Diesel Generator Set

·         Laboratory Equipment

·         Fax Machine

·         Motor Cycle

·         Camera

·         Computer

·         Cooling Tower

·         Water Cooler

·         Xerox Machine

·         Fire Extinguisher

 

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.65.63

UK Pound

1

Rs.101.73

Euro

1

Rs.73.26

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

32

 

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.