MIRA INFORM REPORT
|
Report No. : |
342554 |
|
Report Date : |
25.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
ZEN EXIM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shakti – 404 (SF), Devang Co-Operative Housing Society Limited,
Opposite Patel Farm, S.G. Highway, Thaltej Cross Roads, Ahmadabad – 380054,
Gujarat |
|
Tel. No.: |
91-79-26859880 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.05.2002 |
|
|
|
|
Com. Reg. No.: |
04-040770 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.32.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007GJ2002PTC040770 |
|
|
|
|
IEC No.: |
0801004845 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
ANMZ00087D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ1599C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Computer Peripherals and Hardware and Communication
Equipments. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company incorporated in the year 2002 having
moderate track. The rating reflects company moderate financial risk profile marked by
thin profit margin and huge borrowings recorded by the company. Further, the rating also takes into consideration unfavorable gap
between trade payables and trade receivables. Their trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating (BB-) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
October 29, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating (A4+) |
|
Rating Explanation |
Minimal degree of safety and carry very high risk. |
|
Date |
October 29, 2014 |
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 DENIED BY
|
Name : |
Ms. Alpa |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-79-67771900 |
|
Date : |
24.09.2015 |
|
|
|
|
Name : |
Mr. Nikhil Majithia |
|
Designation : |
Director |
|
Contact No.: |
91-9825062398 |
LOCATIONS
|
Registered Office : |
Shakti – 404 (SF), Devang Co-Operative Housing Society Limited,
Opposite Patel Farm, S.G. Highway, Thaltej Cross Roads, Ahmadabad – 380054,
Gujarat, India |
|
Tel. No.: |
91-79-67771900 / 67771901 |
|
Mobile No.: |
91-9825062398 (Mr. Nikhil Majithia) |
|
Fax No.: |
91-79-26859892 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
2nd Floor, Shakti 404, Opposite New Gurudwara, Sarkhej - Gandhinagar Highway, Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
91-79-26859890/ 26859891 |
|
Fax No.: |
91-79-26859892 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Nikhilbhai Mohanlal Majithia |
|
Designation : |
Director |
|
Address : |
“Nirmotri”, 21A, Sanjeevbaug, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
01.08.1963 |
|
Date of Appointment : |
22.05.2002 |
|
DIN No.: |
00477121 |
|
|
|
|
Name : |
Mr. Mukesh Maganlal Majithia |
|
Designation : |
Director |
|
Address : |
“Jay”, B.H, Bank of Baroda, Usmanpura, Ahmedabad – 380013, Gujarat,
India |
|
Date of Birth/Age : |
13.06.1967 |
|
Date of Appointment : |
22.05.2002 |
|
DIN No.: |
01769576 |
|
|
|
|
Name : |
Majithia Rashmin Mohanlal |
|
Designation : |
Director |
|
Address : |
21.A, Sanjeev Baug, New Sharda Mandir Road, Paldi,
Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
19.11.1968 |
|
Date of Appointment : |
22.05.2002 |
|
DIN No.: |
01769595 |
|
|
|
|
Name : |
Mr. Jayesh Maganlal Majithia |
|
Designation : |
Director |
|
Address : |
Jay Bung, B.H, Bank of Baroda, Opposite Chapaner Post
Office, Usmanpura, Ahmedabad – 380013, Gujarat, India |
|
Date of Birth/Age : |
17.08.1973 |
|
Date of Appointment : |
22.05.2002 |
|
DIN No.: |
01841325 |
KEY EXECUTIVES
|
Name : |
Ms. Alpa |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Nikhil Majithia |
552500 |
17.00 |
|
Mukesh Majithia |
292500 |
9.00 |
|
Rashmin Majithia |
552500 |
17.00 |
|
Jay Majithia |
292500 |
9.00 |
|
Maganbhai Majithia |
260000 |
8.00 |
|
Bijal Majithia |
260000 |
8.00 |
|
Damyantiben M. Majithia |
520000 |
16.00 |
|
Hetal M. Majithia |
260000 |
8.00 |
|
Vishwesh N. Majithia |
260000 |
8.00 |
|
Total |
3250000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer Peripherals and Hardware and Communication
Equipments. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
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 : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Kaushik Jayendra and Company Chartered Accountants |
|
Address : |
58, 4th Floor, Nobles, Opposite Nehru Bridge, Ashram Road, Ahmedabad – 380009, Gujarat, India |
|
Tel. No. : |
91-79-26589123 / 26589917 |
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E-Mail : |
|
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFK8432F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
|
|
Associates : |
· Zen Tradelink Private Limited · Zen Tobacco Private Limited · Zest Packers Private Limited · Zen Industries Private Limited · Vision Stationary Private Limited · Zoetic Healthcare Private Limited ·
Zoetic Ayurvedic Private Limited · Zen Matrix Private Limited · Zen Product Private Limited ·
Zen Restaurant Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3250000 |
Equity Shares |
Rs.10/- each |
Rs.32.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3250000 |
Equity Shares |
Rs.10/- each |
Rs.32.500 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 |
32.500 |
7.500 |
7.500 |
|
(b) Reserves & Surplus |
40.458 |
30.135 |
15.125 |
|
(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) |
72.958 |
37.635 |
22.625 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
74.789 |
63.205 |
31.648 |
|
(b) Deferred tax liabilities
(Net) |
0.362 |
0.309 |
0.179 |
|
(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) |
75.151 |
63.514 |
31.827 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
193.707 |
81.636 |
4.985 |
|
(b) Trade payables |
196.276 |
104.556 |
47.918 |
|
(c) Other current liabilities |
19.802 |
22.789 |
9.394 |
|
(d) Short-term provisions |
0.505 |
5.488 |
21.402 |
|
Total
Current Liabilities (4) |
410.290 |
214.469 |
83.699 |
|
|
|
|
|
|
TOTAL |
558.399 |
315.618 |
138.151 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6.664 |
7.080 |
2.423 |
|
(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 |
0.007 |
0.007 |
0.007 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.419 |
0.385 |
0.186 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
7.090 |
7.472 |
2.616 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
393.558 |
216.358 |
73.746 |
|
(c) Trade receivables |
103.855 |
58.438 |
51.451 |
|
(d) Cash and cash equivalents |
15.446 |
13.603 |
1.113 |
|
(e) Short-term loans and
advances |
38.184 |
19.369 |
9.138 |
|
(f) Other current assets |
0.266 |
0.378 |
0.087 |
|
Total
Current Assets |
551.309 |
308.146 |
135.535 |
|
|
|
|
|
|
TOTAL |
558.399 |
315.618 |
138.151 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operation |
706.388 |
328.658 |
194.284 |
|
|
Other Income |
2.120 |
2.020 |
3.059 |
|
|
TOTAL
|
708.508 |
330.678 |
197.343 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
695.068 |
307.427 |
173.523 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
13.440 |
23.251 |
23.820 |
|
|
|
|
|
|
|
Less |
TAX |
3.117 |
8.242 |
8.433 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
10.323 |
15.009 |
15.387 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
87.387 |
28.616 |
18.454 |
|
|
TOTAL
EARNINGS |
87.387 |
28.616 |
18.454 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Goods and Services |
NA |
328.619 |
130.517 |
|
|
TOTAL
IMPORTS |
NA |
328.619 |
130.517 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3.18 |
-- |
-- |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
2.498 |
1.270 |
0.000 |
|
Cash generated from operations |
(1.401) |
3.442 |
NA |
|
Net cash flow from operating activity |
(4.634) |
(4.799) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.46 |
4.57 |
7.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.41 |
7.37 |
17.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.62 |
1.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.71 |
3.88 |
1.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.44 |
1.62 |
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 |
7.500 |
7.500 |
32.500 |
|
Reserves & Surplus |
15.125 |
30.135 |
40.458 |
|
Net
worth |
22.625 |
37.635 |
72.958 |
|
|
|
|
|
|
long-term borrowings |
31.648 |
63.205 |
74.789 |
|
Short term borrowings |
4.985 |
81.636 |
193.707 |
|
Total
borrowings |
36.633 |
146.111 |
270.994 |
|
Debt/Equity
ratio |
1.619 |
3.882 |
3.714 |
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 |
194.284 |
328.658 |
706.388 |
|
|
|
69.164 |
114.931 |
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 |
194.284 |
328.658 |
706.388 |
|
Profit |
15.387 |
15.009 |
10.323 |
|
|
7.92% |
4.57% |
1.46% |
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 |
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 |
Yes |
|
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 |
BUSINESS
OPERATIONS:
During the year, the Company has earned total income of Rs. 708.508
Million against the total income of Rs. 330.678 Million earned in the previous
year and incurred total expenditure of Rs. 695.068 Million as against Rs.
307.427 Million incurred in the previous year. The Company has earned the net
profit of Rs. 10.323 Million as against the net profit of Rs. 15.009 Million
earned in the previous year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From Directors |
3.159 |
10.032 |
|
From Shareholders |
32.841 |
11.381 |
|
From Companies |
0.000 |
39.789 |
|
Total |
36.000 |
61.202 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10376860 |
19/03/2014 * |
200,000,000.00 |
State Bank of India |
RBO-III, SME BRANCH, 1,ZODIAC SQUARE , OPP. GUR |
C01198571 |
FIXED ASSETS
- Plant and
Machinery
- Computers
- Furniture and
Fixture
- Software
- Mobile Phones
- Vehicles
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.65.96 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.