MIRA INFORM REPORT

 

 

Report Date :

31.05.2007

 

IDENTIFICATION DETAILS

 

Name :

NCR CORPORATION PRIVATE LIMITED

 

 

Registered Office :

Nioton Building, 3rd Floor,11 Palace Road, Bangalore – 560052, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

19.04.1996

 

 

Com. Reg. No.:

020333

 

 

CIN No.:

[Company Identification No.]

U28111KA1996PTC020333

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRN00521D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is Expertise in areas of ATM Technology, Thermal Paper Applications as well as Comtoner Cartridges

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1392

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed company having satisfactory track. Directors are reported as experience and respectable businessmen. Trade relations are fair. Business is active. Payments are usually correct and as per commitments.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

 

LOCATIONS

 

Registered Office :

Nioton Building, 3rd Floor,11 Palace Road, Bangalore – 560052, Karnataka

Tel. No.:

91-80-22250160

Mobile No.:

 

Fax No.:

91-80-22257050

 

 

Gurgaon Office :

5th Floor, Vipul Orchid Plaza, Sun City, Sector – 54, Gurgaon - 122002

Tel. No.:

91-124-5353535

Fax No.:

91-124-533200/3300

 

 

Secunderabad Office :

Oueen;s Plaza, 1-8-44-, Sardar Patel Road, Secundrabad – 500003

Tel. No.:

91-40-55008000

Fax No.:

91-40-55008821

 

 

Mumbai Office :

501 – A, Landmark, Suren Raod, Chakala, Andheri, Mumbai - 400093

Tel. No.:

91-22-56957500

Fax No.:

91-22-56957555

 

 

Mumbai office :

Level 5, Fairmont, High Street, Hiranandani Business Park

Tel. No.:

91-22-56447000

Fax No.:

91-22-55020470 / 55020471

 

 

Mumbai Office :

G – 1, Ground Floor, Hiranandani Business Park

Tel. No.:

91-22-56447300

 

 

DIRECTORS

 

Name :

Mr. Haridasan Pothera (foreigner)

Designation :

Director

Address :

Block 1, Unit – 2201, The Water Side, Tanzon, 6 – Rhu Road, Singapore – 436879

Date of Birth/Age :

29.04.1950

Date of Appointment :

07.01.2002

 

 

Name :

Mr. Raghu Nathan

Designation :

Director

Address :

Block 1, First Floor, Royal Garden Apartments., 12 Park Avenue, Kesavaperu, Mal, Puram, Chennai – 600028, Tamilnadu

Date of Birth/Age :

09.01.1956

Date of Appointment :

02.12.2002

 

 

Name :

Mr. Keith Allen Taylor

Designation :

Director

Address :

945 - S, Nixon Camp Road, Oregonia, Dayton – 45054, Ohio USA

Date of Birth/Age :

27.10.1950

Date of Appointment :

27.09.2003

 

 

Name :

Mr. Deepak Chandnani

Designation :

Director

Address :

C – 302, Shanitanya Tower, Prabhadev, Mumbai, Maharashtra

Date of Birth/Age :

10.03.1959

Date of Appointment :

03.03.2004

 

 

Name :

Mr. Pathy Anada Krishnan

Designation :

Director

Address :

708, B – 2 Wing, Lok Bharti Marol Maroshi Road, Marol, Andheri (East), Mumbai – 400059, Maharashtra

Date of Birth/Age :

15.08.1961

Date of Appointment :

03.03.2004

 

 

Name :

Mr. Shankar Rajagopalan

Designation :

Director

Address :

24 – SR, Residency, 1st Cross Street, Shantivana, Sanjeevini Nagar, Bangalore – 560092, Karnataka

Date of Birth/Age :

14.08.1955

Date of Appointment :

25.06.2004

 

 

Name :

Mr. Sunil Santosh Sharma

Designation :

Director

Address :

B – 202, Ganga Vihar, juhu lane, Andheir (West), Mumbai, Maharashtra

Date of Birth/Age :

10.11.1964

Date of Appointment :

25.06.2004

 

 

Name :

Mr. Konerira Bopalya Iyappa

Designation :

Director

Address :

8 – C, Balmoral Hall, 7, Mount Mary Road, Bandra (West), Mumbai – 400050, Maharashtra

Date of Birth/Age :

02.10.1959

Date of Appointment :

25.16.2004

 

 

Name :

Mr. Ashish Chandra

Designation :

Director

Address :

503 – 504 – B, 5th Floor, Silver Beach Apartments AB, Nair Road, Juhu, Mumbai – 400049, Mharashtra

Date of Birth/Age :

11.09.1976

Date of Appointment :

10.03.2003

 

 

Name :

Mr. Tushar Diwakar Shastri

Designation :

Director

Address :

5 – Mukund Nandanvan, Apartments Co-Op Hsg Society, Louis Wadi, Thane (West), Thane – 400604, Maharashtra

Date of Birth/Age :

28.08.1971

Date of Appointment :

01.01.2005

 

 

Name :

Mr. S. Kohil

Designation :

Director

Address :

HN – 24, RN – 20 East, Punjab Bagh, New Delhi – 110026

Date of Appointment :

30.10.2006

Name :

Mr. Loney Antony

Designation :

Director

 

 

Name :

Mr. Ravindra Kini

Designation :

Director

 

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

NCR International  INC

 

39868970

NCR Corporation

 

300

 

 

 

Category

 

Percentage of Holding

Foreign holding (Foreign institutional investor(s), Foreign companies(s), Foreign financial institution(s), Non-resident Indian(s)or overseas Corporate bodies or other

 

100.00

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is Expertise in areas of ATM Technology, Thermal Paper Applications as well as Comtoner Cartridges

 

 

 

 

GENERAL INFORMATION

 

Bankers :

Not Available

 

 

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Price Waterhouse Company

Chartered Accountants

Address :

Mittal Tower, 10th Floor, C Wing, 47/6, MG Road, Bangalore – 560001, Karnataka

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

44500000

Equity Shares

Rs.10/- each

Rs.445.000 millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

39869270

Equity Shares

Rs.10/- each

Rs.398.692 millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2006

31.03.2005

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

0.398

0.398

2] Share Application Money

 

0.003

0.003

3] Reserves & Surplus

 

0.000

0.229

4] (Accumulated Losses)

 

(0.053)

0.000

NETWORTH

 

0.348

0.630

LOAN FUNDS

 

 

 

1] Secured Loans

 

0.047

0.051

2] Unsecured Loans

 

0.731

0.718

TOTAL BORROWING

 

0.778

0.769

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

1.126

1.399

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

0.535

0.402

Capital work-in-progress

 

0.001

0.049

 

 

 

 

INVESTMENT

 

0.000

0.00

DEFERREX TAX ASSETS

 

0.171

0.144

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

0.787

0.763

 

Sundry Debtors
 

1.949

1.439

 

Cash & Bank Balances
 

0.271

0.268

 

Other Current Assets
 

0.166

0.117

 

Loans & Advances
 

1.189

0.544

Total Current Assets
 

4.362

3.131

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

3.757

2.149

 

Provisions
 

0.186

0.180

Total Current Liabilities
 

3.943

2.329

Net Current Assets
 

0.419

0.804

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

1.126

1.399

 

 

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

 

31.03.2006

(Estimated)

31.03.2005

(Estimated)

Sales Turnover

 

2200.000

2000.000

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2006

31.03.2005

Debt Equity Ratio

(Total Liability/Networth)

 
 

11.33

3.69

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.10

3.89

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Milestones:

        NCR History Timeline

  • 1884 - John H. Patterson founded the National Cash Register Company, maker of the first mechanical cash registers.
  • 1894 - NCR opened one of the first sales training schools.
  • 1906 - Charles F. Kettering designed the first cash register powered by an electric motor.
  • 1914 - NCR developed one of the first automated credit systems. 
  • 1926 - NCR became publicly owned.
  • 1952 - NCR acquired Computer Research Corporation (CRC), of Hawthorne, California, which produced a line of digital computers with applications in aviation.
  • 1953 - NCR established the Electronics Division to continue to pursue electronic applications for business machines.
  • 1957 - NCR announced first fully transistorized business computer, the NCR 304.
  • 1968 - NCR's Jack Janning invented liquid crystal displays (LCD).  
  • 1974 - Company changed its name to NCR Corporation.
  • 1974 - NCR commercialized first bar code scanners. 
  • 1982 - The first NCR Tower supermicrocomputer system was launched, establishing NCR as a pioneer in bringing industry standards and open systems architecture to the computer market.
  • 1991 - NCR acquired by AT&T.
  • 1991 - NCR purchased Teradata Corporation, acquiring its advanced and unique commercial parallel processing technology. NCR Teradata becomes the world's most proven and powerful database for data warehousing.
  • 1994 - NCR name changed to AT&T Global Information Solutions (GIS).
  • 1995 - AT&T announced spin-off of AT&T GIS by the end of 1996.
  • 1996 - AT&T GIS changed its name back to NCR Corporation in anticipation of being spun-off to AT&T shareholders by January 1997, as an independent, publicly-traded company.
  • 1997 - Signaling its evolution from a hardware-only company to a full solutions provider, NCR purchased Compris Technologies, Inc., a leading provider of store automation and management software for the food-service industry, and Dataworks, a company that develops check-processing software.
  • 1998 - NCR finalized the transfer and sale of their computer hardware manufacturing assets to Solectron, confirming NCR's commitment to concentrate on the market-differentiated software and services components of their solutions portfolios.
  • 2000 - NCR acquired CRM provider Ceres Integrated Solutions and services company 4Front Technologies, deepening NCR's solutions offerings in key markets.
  • 2003 - NCR granted patent for signature capture.
  • 2005 - Following the successful 2004 acquisition of travel self-service leader Kinetics, NCR further strengthens its self-service portfolio by acquiring Galvanon, a leading provider of solutions for the health care industry. 

 

Five Business Units:

NCR Corporation Business Units include:

  • Financial Services Division (FSD) - The worldwide leader for the 18th consecutive year, NCR offers a complete range of automated teller machines (ATMs), including specialized models that also dispense customized information and non-cash items such as tickets and coupons.

    Besides the ATMs, the FSD includes the Payment Solutions Division. With an experience of more than 10,000 man years, NCR offers customers in the financial services industry item-processing devices that read and sort checks and other paper items, image processing devices that convert checks and other paper items into electronic images, outsourced management of item-image-processing facilities, and products and services related to emerging methods of payment.


  • Retail Solutions Division (RSD) - These solutions, designed to improve service levels and operating efficiency for retailers, include point-of-sale terminals, barcode scanners, scanner-scales, electronic shelf labeling, kiosks, applications software and self-checkout systems.
  • Teradata - These solutions are designed to help companies profitably increase business by using data warehouse capabilities to gain insight into consumers’ preferences and choices, asset use operations and financial results.
  • Systemedia – This develops world-class consumables designed to maximize system uptime, minimize the total cost of ownership and enhance system capabilities. Backed by its world-class technology and decades of experience, Systemedia specializes in consumables for the financial, retail and manufacturing industries, as well as the small and home office environment
  • Worldwide Customer Services (WCS) - Underlying all of the solutions portfolios is NCR’s industry-leading Worldwide Customer Services, which focuses on implementation and maintenance.

Company Details:

NCR is the only company in India to offer a total portfolio of services – from infrastructure services in the pre-installment stages (for instance, establishing power, connectivity, civil engineering and the like) and installation and deployment of the ATM machines, to providing networking and facilitating the Switching needs and right up to total monitoring and management of the ATM Channel across the country. The recently launched Retail Solutions Division (RSD) will offer a similar total portfolio of solutions and support infrastructure, leveraging the existing NCR network of support across the country.

Committed to offering complete services, including the vital support services, NCR’s World-wide Customer Support Division (WCS) has established a state-of-the-art Remote Management Centre in Mumbai, offering its experience and expertise for complete monitoring and management to the ATM networks of its clients.

1) FINANCIAL SERVICE DIVISION (FSD)

NCR India, in a span of seven years, has established itself as the market leader in the ATM (Automated Teller Machines) and Payment Solutions markets. In the ATM business, NCR India has established strategic

 

relationships with almost all the major banks in the country and is the clear market and thought leader. Its Payment Solutions Division has implemented 27 of the 29 Clearing Houses in India.

India , with its fast growing economy and a large base of skilled people, is developing as one of the fastest growing Automated Teller Machine (ATM) market in India. From the simple ATMs, which dispense cash to more elaborate machines, ATM machines are already revolutionizing the banking industry in the country.

Some of the important functions, besides the usual cash and cheque transactions, on an ATM include-

  • Payment of utility bills
  • Topping up pre-paid mobile phone cards
  • Railway ticketing
  • Temple donations to Lord Tirupati through ATMs
  • Financial transactions like redemption of mutual fund units
  • Paying Insurance premium

NCR customers include front line banks such as the State Bank of India, ICICI Bank, HDFC Bank, IDBI Bank, Corporation Bank, Oriental Bank of Commerce, Bank of Baroda, Canara Bank, UTI Bank, Hongkong and Shanghai Banking Corporation, Standard Chartered Bank, Citibank, IndusInd Bank and Karnataka Bank amongst a host of others.

ATMs are set to develop into one stop banking transaction solutions for the common man. Internet connectivity, open platforms and high-level processing in these machines have created revolutionary new applications for self-service. Thus facilitating banks in their endeavors to migrate the customer of a branch to a customer to the entire bank, making it a seamless banking experience for the customer.

With its keen focus on the Indian market, NCR launched ASAN, the first ever India specific ATM to facilitate banks to extend their ATM network reach into newer locations across the country without compromising on the returns on investment.

NCR’s Financial Services Division also comprises of Payment Solutions . In 1986, the Reserve Bank of India set up India’s first Magnetic Ink Character Recognition (MICR) Cheque Clearing Center at Mumbai, followed by the introduction of the same in New Delhi, Calcutta and Chennai in a phased manner, as also Inter City Clearing across these four cities. In 1995, it was extended to 26 more cities through Public Sector banks.

As on date, NCR has set up the majority of Clearing Houses in the Country, a market leader in payment business with its Docuview solution. NCR also offers its feature rich application “Chequemark Ô ”, the MICR cheque processing solution for the service branches, for the commercial banks.

The cheque processing market is in transition from traditional paper processing and bank-to-bank paper exchange to image processing and bank-to-bank image and electronic exchange of data. NCR’s ECPIX solution, already implemented by Punjab National Bank for first ever image based cheque truncation system in the country (currently used for intra-bank processing), will help banks move into the image based processing once the guidelines of the RBI Working Committee are formalized.


2) WORLDWIDE CUSTOMER SERVICES

Services are an essential component of NCR’s complete solution offerings, and NCR’s Worldwide Customer Services (WCS) division is a global leader in information technology (IT) services delivery. WCS supports NCR’s solutions with world-class maintenance and industry-leading metrics in critical areas such as fix rate, on-time service delivery, and customer service satisfaction.

The strength of WCS lies in its ability to provide and manage global IT infrastructures. From consulting and site design, to staging and implementation, to complete systems management, WCS has proven these capabilities by successfully supporting NCR’s base of Teradata data warehouse, retail store automation, and financial self-service customers.

The high availability services focus on the vital systems, networks, software and security that comprise the IT infrastructure of today’s businesses, and include operations management, consulting, deployment, and maintenance. WCS provides these services directly to global businesses as well as through partnerships with leading technology, network and systems suppliers including Cisco Systems, Nortel Networks, Dell Computer, Sun Microsystems and others.

NCR’s Service Offerings

NCR’s comprehensive array of service capabilities provides complete support to help businesses maximize IT investments. NCR’s range of services includes:

  • Management Services -- providing day-to-day management and operation of select IT assets and processes. NCR’s management services focus on IT systems, networks, ATMs, kiosks and help desks.
  • Infrastructure Consulting -- an array of advisory services for the design and operation of IT environments for store automation, ATMs, data warehousing and other IT systems.
  • Deployment and Integration -- leveraging NCR’s global presence and experience to customize and implement IT solutions, including procurement, staging and installation.
  • Maintenance and Support -- ensuring high availability for IT systems with multivendor hardware maintenance and software support.

 

3) RETAIL SOLUTIONS DIVISION (RSD)

Headquartered in the greater Atlanta area, NCR’s Retail Solutions Division is a leading global provider of store automation solutions, including hardware and software, consulting and customer support services. NCR offers its solutions in more than 100 countries, serving retailers in food and drug, general merchandise and hospitality market segments. The NCR solutions for the retail industry include NCR FastLane Ô self checkout solutions, NCR EasyPoint™ kiosk solutions, NCR RealPrice™ electronic shelf label solutions to eliminate price discrepancies between self and checkout prices, NCR RealPOS™ web-enabled point-of-sale solutions and NCR RealScan™ bar code scanners.

In India, NCR’s Retail Solutions Division would focus on the fast-changing petrol retail business. With deregulation of the oil industry and increased competition as private players enter the retail business, the number of retail sites are expected to increase by more than 50 per cent. NCR’s Octane 2000 is uniquely geared to meet these needs, providing the complete automation solution for the complex business of petrol retail. A modular and scalable product, Octane 2000 is a comprehensive business management system, conceived, initiated and developed specifically to meet the needs of the petrol service stations. Octane 2000 can play a significant role for the oil companies to tally the oil in the underground tanks with that dispensed from the pumps to prevent adulteration and pilferages, while helping in the establishment of convenience stores retailing fuel as well as non-fuel products.

NCR India will continue to evaluate the still-nascent retail market regularly, to eventually offer its leading retail industry solutions as and when the retail industry in India reaches a critical mass of development.

 

 

4) TERADATA SOLUTIONS DIVISION

NCR is the world leader in large data warehouse implementation and has a dominant market share of the 1 terabyte plus market. Worldwide, NCR Teradata’s customer base has expanded by 40% since the beginning of 1999. The number of NCR data warehouses over 1 TB has nearly doubled every year since 1996.

The Teradata solutions enable businesses to simplify and quickly leverage detailed data, turning it into actionable opportunities. NCR is leading the next solution – NCR Teradata @ctive Warehouse Solutions (ADW), where the results of strategic analysis get translated into actionable decisions. And, it provides support for tactical decisions to improve effective use of information.

In India, Teradata has launched its RDBMS and its award winning CRM solutions. Teradata has installed enterprise data warehouse with ICICI Bank, Centurion Bank and a reporting infrastructure installation with the TVSE Group. It has also donated a Teradata warehouse to the Indian Institute of Technology, Mumbai to run proof of concept modeling for research projects. Teradata’s power gives IITB the ability to run robust modeling with large amounts of data fir the first time. The warehouse is also being used to teach students. It has also donated associated professional service time and are sponsoring students at the institute.

5) SYSTEMEDIA

The Systemedia Group develops, produces and markets a complete line of business consumables to compliment NCR's solutions in the retail, financial, and communications industries. Its products and services are custom-designed to work with NCR solutions and systems to reduce the likelihood of paper jams, print-head failures and other media-related service problems. Through the implementation of these types of programs, Systemedia effectively lowers a customer's total cost of ownership by increasing equipment uptime and maximizing equipment performance.

In support of NCR's solutions offering for the retail industry, Systemedia offers comprehensive support and development of custom and stock Point-of-Sale items including paper rolls, labels and label form combinations, business forms, and inking systems. Systemedia also works with retailers to develop and incorporate security features to reduce fraudulent returns and theft, while focusing on lowering the customer's total cost of ownership.

Products developed specifically for the financial industry include full color custom printed receipt rolls, coupons, value documents, security papers, printer ribbons, encoding products, ink jet cartridges, optical diskettes, journal paper, and UV smart checks.

Aside from its support of NCR's solutions portfolios, Systemedia develops and markets a complete line of paper products and imaging supplies for ink jet, laser, impact and thermal transfer printers for the small office and home office environment. In addition, Systemedia develops Automatic Identification solutions that bring together bar-code labels, ribbons, software, and printers to meet the product marking and distribution requirements of manufacturers and retailers.

 

 

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 records 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.40.73

UK Pound

1

Rs.80.43

Euro

1

Rs.54.74

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--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

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

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

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