MIRA INFORM REPORT
|
Report No. : |
343017 |
|
Report Date : |
30.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TEAM INTERVENTURE EXPORTS (INDIA) PRIVATE LIMITED |
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|
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|
Formerly Known
As : |
BLUE OCEAN EXPORTS PRIVATE LIMITED |
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Registered Office
: |
Banu Mansion, 1st Floor, 16 Nadirsha Sukhia Street, Off. Cawasji Patel
Street, Fort, Mumbai-400001, Maharashtra |
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Tel. No.: |
91-22-40622999 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
25.09.1990 |
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Com. Reg. No.: |
11-058290 |
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Capital
Investment / Paid-up Capital : |
Rs. 60.000 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U51900MH1990PTC058290 |
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|
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IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT18709F |
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PAN No.: [Permanent Account No.] |
AAACB2547E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Exporter of Fabric and Cotton Yarns. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1345400 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated the year 1990 and it is engaged into
manufacturing and trading of textiles and cotton yarn. The company recorded a net profit of Rs. 33.307
Million on an operating income of Rs. 6172.466 Million in FY14 as
compared to a net profit of Rs. 29.596 Million on an operating income of Rs.
5869.325 Million in FY13. The rating is however constrained by the weak profit margins, intense
competition and the company’s stretched capital structure characterised by
high leverage along with weak debt protection metrics and unfavorable gap
between trade receivable and trade payable. This rating weakness is partially offsets by company’s established
presence in export of cotton yarn and fabrics, established relations with
suppliers and customers and its promoters’ extensive industry experience. Trade relations seem to be fair. Business is active. Payment terms are
reported as slow. In view of company’s professional and competent management, the
company can be considered for business dealings with great 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 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limits=A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risks. |
|
Date |
October 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 DECLINED BY
|
Name : |
Ms. Kusum |
|
Contact No.: |
91-22-40622999 |
|
Date : |
29.09.2015 |
LOCATIONS
|
Registered Office : |
Banu Mansion, 1st Floor, 16 Nadirsha Sukhia Street, Off. Cawasji Patel
Street, Fort, Mumbai-400001, Maharashtra |
|
Tel. No.: |
91-22-40622999 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sureshkumar Umadatta Agarwal |
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Designation : |
Director |
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Address : |
C - 3, Sunita, Kopri Colony, Near Mangala High School, Thana (M.S),
Thane-400603, Maharashtra, India |
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Date of Appointment : |
06.02.2009 |
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PAN No.: |
ADRPA3383J |
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DIN No.: |
01841964 |
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Other Directorship :
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Name : |
Mr. Mahendrakumar Umadatta Agarwal |
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Designation : |
Director |
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Address : |
Building No.110, Kannamwar Nagar,Vikroli (East), Mumbai-400083,
Maharashtra, India |
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Date of Appointment : |
01.07.2010 |
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PAN No.: |
ADNPA2264J |
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DIN No.: |
03223566 |
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Name : |
Mr. Vinod Kumar Umadutta Agarwal |
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|
Designation : |
Director |
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Address : |
C - 3, Sunita Co-Operative Housing Society Limited, Opposite Nakhva
High School, Thane - (East), Thane- 400603, Maharashtra, India |
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Date of Appointment : |
01.07.2010 |
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PAN No.: |
ADRPA7903L |
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DIN No.: |
01826492 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Suresh Kumar Agarwal |
3360000 |
56.00 |
|
Vinod Kumar Agarwal |
1400000 |
23.33 |
|
Mahendra Kumar Agarwal |
840000 |
14.00 |
|
Ritesh Kumar Agarwal |
200000 |
3.33 |
|
Ravi Kiran Agarwal |
100000 |
1.67 |
|
Sunita Agarwal |
100000 |
1.67 |
|
Total |
6000000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20343017%2030-Sep-2015_files/image013.gif)
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Exporter of Fabric and Cotton Yarns. |
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Products : |
-- |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 : |
Not Divulged |
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Bankers : |
·
Indian Bank Mumbai Fort Branch,
United India Building, Sir P M Road, Fort, Mumbai - 400001, Maharashtra,
India ·
Dena Bank Overseas Branch, 17 - B,
Horniman Circle, Dena Bank Building, Fort, Mumbai - 400023, Maharashtra,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vicky
O. Agarwal and Associates Chartered Accountants |
|
Address : |
D - 301, Mahavirnagar,
Shanti Park, Ambe Mata Mandir Road, Bhayander (West), Mumbai-401101,
Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AGRPA3953H |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000
Million |
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|
|
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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 |
60.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
385.923 |
308.642 |
279.047 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
25.000 |
60.000 |
40.000 |
|
Total
Shareholders’ Funds (1) + (2) |
470.923 |
418.642 |
369.047 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
371.959 |
345.735 |
343.173 |
|
(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 |
29.551 |
14.010 |
6.423 |
|
Total
Non-current Liabilities (3) |
401.510 |
359.745 |
349.596 |
|
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|
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|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1294.189 |
1044.701 |
842.018 |
|
(b)
Trade payables |
314.844 |
335.979 |
312.282 |
|
(c)
Other current liabilities |
31.696 |
23.744 |
1.933 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
1640.729 |
1404.424 |
1156.233 |
|
|
|
|
|
|
TOTAL |
2513.162 |
2182.811 |
1874.876 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
16.075 |
17.004 |
17.740 |
|
(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 |
18.400 |
18.400 |
17.400 |
|
(c) Deferred tax assets
(net) |
0.367 |
0.316 |
0.079 |
|
(d) Long-term Loan
and Advances |
277.869 |
227.502 |
162.584 |
|
(e)
Other Non-current assets |
0.188 |
0.188 |
0.282 |
|
Total
Non-Current Assets |
312.899 |
263.410 |
198.085 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
53.233 |
23.188 |
23.787 |
|
(c)
Trade receivables |
1982.243 |
1815.621 |
1561.260 |
|
(d)
Cash and cash equivalents |
22.560 |
13.177 |
34.024 |
|
(e)
Short-term loans and advances |
142.227 |
67.415 |
57.720 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2200.263 |
1919.401 |
1676.791 |
|
|
|
|
|
|
TOTAL |
2513.162 |
2182.811 |
1874.876 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
6172.466 |
5869.325 |
5260.423 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
6130.014 |
5832.380 |
5227.540 |
|
|
|
|
|
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|
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|
PROFIT BEFORE
TAX |
42.452 |
36.945 |
32.883 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.145 |
7.349 |
6.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
33.307 |
29.596 |
26.506 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.55 |
5.92 |
5.30 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
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 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.70 |
1.71 |
1.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.09 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.54 |
3.32 |
3.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.37 |
1.45 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
50.000 |
50.000 |
60.000 |
|
Reserves & Surplus |
279.047 |
308.642 |
385.923 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
40.000 |
60.000 |
25.000 |
|
Net
worth |
369.047 |
418.642 |
470.923 |
|
|
|
|
|
|
Long-term borrowings |
343.173 |
345.735 |
371.959 |
|
Short term borrowings |
842.018 |
1044.701 |
1294.189 |
|
Total
borrowings |
1185.191 |
1390.436 |
1666.148 |
|
Debt/Equity
ratio |
3.211 |
3.321 |
3.538 |
%20PRIVATE%20LIMITED%20-%20343017%2030-Sep-2015_files/image015.gif)
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 |
5260.423 |
5869.325 |
6172.466 |
|
|
|
11.575 |
5.165 |
%20PRIVATE%20LIMITED%20-%20343017%2030-Sep-2015_files/image017.gif)
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 |
5260.423 |
5869.325 |
6172.466 |
|
Profit |
26.506 |
29.596 |
33.307 |
|
|
0.50% |
0.50% |
0.54% |
%20PRIVATE%20LIMITED%20-%20343017%2030-Sep-2015_files/image019.gif)
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 |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10420246 |
04/10/2014 * |
200,000,000.00 |
UCO BANK |
UCO BANK BUILDING
DR DN RAOD FORT, MUMBAI- 401101, MAHARASHTRA, INDIA |
C33903303 |
|
2 |
10336783 |
06/04/2013 * |
300,000,000.00 |
INDIAN BANK |
MUMBAI FORT
BRANCH,UNITED INDIA BUILDING, SIR P M ROAD,FORT, MUMBAI- 400001, MAHARASHTRA,
INDIA |
B73410581 |
|
3 |
10264020 |
11/01/2011 |
60,000,000.00 |
INDUSIND BANK
LIMITED |
GROUND FLOOR,
MAKER CHAMBERS IV,, NARIMAN POINT,, |
B04080362 |
|
4 |
10257317 |
03/11/2010 |
250,000,000.00 |
BANK OF BARODA |
COLABA BRANCH, ESPERENCA
BLDG.,, SHAHID BHAGAT SI |
A99877292 |
|
5 |
10244814 |
24/02/2012 * |
590,000,000.00 |
DENA BANK |
OVERSEAS BRANCH,
17 - B, HORNIMAN CIRCLE, DENA BA |
B37414745 |
|
6 |
10244818 |
24/02/2012 * |
590,000,000.00 |
DENA BANK |
OVERSEAS BRANCH,
17 - B, HORNIMAN CIRCLE, DENA BA |
B37414679 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
371.959 |
345.735 |
|
|
|
|
|
Total |
371.959 |
345.735 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Plant
and Equipment
·
Furniture
and Fixtures
·
Vehicles
·
Office
Equipment
·
Computer
Equipments
·
Other Equipments
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. 66.18 |
|
|
1 |
Rs. 100.46 |
|
Euro |
1 |
Rs. 74.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
IND |
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 |
|
--PROFITABILIRY |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.