MIRA
INFORM REPORT
|
Report Date : |
27.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
3I INFOTECH LIMITED |
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Registered
Office : |
Tower # 5, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.10.1993 |
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Com. Reg. No.: |
11-074411 |
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CIN No.: [Company Identification
No.] |
L67120MH1993PLC074411 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI02122B |
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PAN No.: [Permanent Account No.] |
AAACI5205Q |
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Legal Form : |
Public Limited Liability Company. The Company’s shares are listed on
Stock Exchanges. |
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Line of Business
: |
Provides Technology Solutions |
RATING & COMMENTS
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MIRA’s Rating : |
A (60) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 50000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having fine track. Financial
position of the company appears to be sound. Directors are reported as
experienced and respectable businessman. Trade relations are reported as
fair. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
The Management non co-operative
LOCATIONS
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Registered Office : |
Tower # 5, International Infotech Park, Vashi Station, Complex, Navi
Mumbai – 400703, Maharashtra, India |
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Tel. No.: |
91-22-67928015/67928206/67928094/67928000 |
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Fax No.: |
91-22-67928098/67928095 |
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E-Mail : |
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Website : |
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Corporate Office : |
6th Floor, Akruti
Centre Point, MIDC Central Road, Next to Marol Telephone Exchange, Andheri
(E), Mumbai - 400 093, India |
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Tel. No.: |
91-22-39145538 |
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Fax No.: |
91-22-39145520 |
DIRECTORS
As On 31.03.2010
|
Name : |
Mr. Hoshang N. Sinor |
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Designation : |
Chairman |
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Name : |
Mr. Samir Kumar Mitter |
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Designation : |
Director |
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Name : |
Mr. Bruce Kogut |
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Designation : |
Director |
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Name : |
Mr. Suresh Kumar |
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Designation : |
Director |
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Name : |
Mr. V. Srinivasan |
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Designation : |
Managing Director and Chief Executive Officer |
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Name : |
Mrs. Vishakha Mulye |
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Designation : |
Director |
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Name : |
Mr. Ashok Jhunjhunwala |
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Designation : |
Director |
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Name : |
Mr. Dileep C.
Choksi |
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Designation : |
Director |
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Name : |
Mr. Amar
Chintopanth |
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Designation : |
Deputy Managing
Director and Chief Financial Officer |
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Name : |
Mr. Anirudh
Prabhakaran |
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Designation : |
Executive
Director and President - |
KEY EXECUTIVES
|
Name : |
V. Srinivasan |
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Designation : |
Managing Director
and Chief Executive Officer |
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Name : |
Mr. Amar Chintopanth |
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Designation : |
Deputy Managing
Director and Chief Financial Officer |
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Name : |
Mr. Babu Venkatesh |
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Designation : |
Chief Executive
Officer, Professional Access (Subsidiary of 3i Infotech) |
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Name : |
Mr. Chandrashekar M.S. |
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Designation : |
Executive Vice
President and Head - Banking and Investment Management |
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Name : |
Debneel Mukherjee |
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Designation : |
President and
Chief Executive Officer - |
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Name : |
Mr. Jayaraman Jagannadhan |
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Designation : |
Executive Vice
President and Head - Insurance, ERP and Payment Solutions |
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Name : |
Kathleen Hamburger |
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Designation : |
President and
Chief Executive Officer - |
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Name : |
Mr. Padmanabhan Iyer |
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Designation : |
Executive Vice
President and Chief Operating Officer - Elegon Infotech Limited (Subsidiary
of 3i Infotech) |
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Name : |
Mr. Pankaj Chawla |
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Designation : |
President and
Chief Executive Officer - Middle East, Africa, |
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Name : |
Som Sarma |
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Designation : |
President - |
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Name : |
Sripat Pandey |
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Designation : |
Head - Mergers
and Acquisitions |
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Name : |
Mr. Shivanand R. Shettigar |
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Designation : |
Company Secretary
and Head - Legal and Compliance |
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Name : |
Mr. Anirudh Prabhakaran |
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Designation : |
Executive
Director and President - |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding of Promoter and Promoter Group |
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39,036,190 |
20.33 |
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39,036,190 |
20.33 |
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39,036,190 |
20.33 |
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Total shareholding of Promoter and Promoter Group (A) |
39,036,190 |
20.33 |
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(B) Public Shareholding |
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6,359,030 |
3.31 |
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19,019,581 |
9.91 |
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22,418,772 |
11.68 |
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23,348,986 |
12.16 |
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4,608,537 |
2.40 |
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4,608,537 |
2.40 |
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75,754,906 |
39.46 |
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15,351,180 |
8.00 |
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49,301,914 |
25.68 |
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12,539,927 |
6.53 |
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2,432 |
- |
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132 |
- |
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2,300 |
- |
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77,195,453 |
40.21 |
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Total Public shareholding (B) |
152,950,359 |
79.67 |
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Total (A)+(B) |
191,986,549 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
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- |
- |
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- |
- |
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- |
- |
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Total (A)+(B)+(C) |
191,986,549 |
- |
(1) Indian
Any Others (Specify)
TrustsBUSINESS DETAILS
|
Line of Business : |
Provides Technology Solutions |
GENERAL INFORMATION
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No. of Employees : |
Information not divulged by management |
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Bankers : |
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Facilities : |
Notes: 1. Security and terms and conditions for Term Loans : a. Rs 2500.000 millions (as at Mar 31, 2010 - Rs.NIL) secured by first pari passu charge over all movable tangible fixed assets and immovable fixed assets of the Company located at its offices at Navi Mumbai and Goregaon. A part of this loan (Rs.1250.000 millions) is further secured by pledge of the shares held by the Company in its subsidiary, 3i Infotech (UK) Limited. b. Rs.1250.000 millions (as at Mar 31, 2010 – 1250.000 millions) is secured by subordinated charge over all movable tangible fixed assets and immovable fixed assets of the Company located at its offices at Navi Mumbai and Goregaon. c. Rs. 530.000 millions (as at Mar 31, 2010 – 530.000 millions) loan is secured by way of pari passu charge on book debts. d. Rs. 1150.000 millions (as at Mar 31, 2010 - Rs.NIL) secured by hypothecation charge over the Intellectual Property Rights of our software products namely Orion and Premia. 2. Certain non-fund facilities of Rs. 468.300 millions (as at Mar 31, 2010 - Rs.400.400 millions) and Cash Credit are secured by way of floating charge on book debts. 3. Security and terms and conditions for Other Bodies Corporate : a. Rs.19.900 millions (as at Mar 31, 2010 - Rs. 18.000
millions) loan is secured by way of hypothecation on certain Company owned
vehicles.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lodha and Company Chartered Accountants |
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Address : |
6, Karim Chambers
40, A. Doshi Marg Mumbai - 400 001, |
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E-mail : |
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Name : |
R.G.N. Price and
Company Chartered
Accountant |
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Address : |
Simpsons’
Buildings 861, Anna Salai Chennai – 600 002, |
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E-mail : |
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Legal Advisors : |
Amarchand and Mangaldas and Suresh A. Shroff and Company |
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Subsidiaries : |
# Considered as joint venture till September 2009. Indian
Subsidiaries:
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CAPITAL STRUCTURE
As On 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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300000000 |
Equity Shares |
Rs. 10/- each |
Rs. 3000.000 Millions |
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200000000 |
Cumulative Preference Shares |
Rs. 5/- each |
Rs. 1000.000 Millions |
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Total |
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Rs. 4000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
191896549 |
Equity Shares |
Rs. 10/- each |
Rs. 1919.900 Millions |
|
200000000 |
6.3% Cumulative Preference Shares |
Rs. 5/- each |
Rs. 1000.000 Millions |
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Total |
|
Rs. 2919.900 Millions |
Note:
1. Of the above, 84,788,331 Equity shares are allotted as fully paid-up Bonus shares (as at 31.03.2010 - 84,788,331 shares) by capitalisation of Securities Premium Account and accumulated profits.Also refer note no. 2.2 regarding shares issued on conversion of QIP and note no.2.15 regarding ESOS shares.
2. Preference Shares are redeemable at par on expiry of nine
years from the date of allotment i.e 31.03.2003.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
2919.900 |
2687.600 |
2307.500 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
7762.600 |
6263.400 |
5159.000 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
12901.600 |
9934.700 |
7466.500 |
|
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LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
7204.900 |
4018.200 |
2571.600 |
|
|
2] Unsecured Loans |
11221.600 |
12062.800 |
12638.200 |
|
|
TOTAL BORROWING |
18426.500 |
16081.000 |
15209.800 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
Premium Payable on Redemption of FCCB |
1524.500 |
1237.300 |
1094.500 |
|
|
|
|
|
|
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TOTAL |
30633.500 |
26269.300 |
23770.800 |
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
2178.300 |
2298.500 |
3802.700 |
|
|
Capital work-in-progress |
2.200 |
13.800 |
718.900 |
|
|
Assets Held for Disposal |
0.000 |
150.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
19697.800 |
17248.400 |
14554.200 |
|
|
DEFERREX TAX ASSETS |
1036.600 |
923.500 |
246.400 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
1991.000
|
2500.700
|
675.600 |
|
|
Cash & Bank Balances |
1088.700
|
447.400
|
991.500 |
|
|
Other Current Assets |
734.600
|
675.500
|
1048.900 |
|
|
Loans & Advances |
5972.500
|
4193.300
|
3498.400 |
|
Total
Current Assets |
9786.800
|
7816.900
|
6902.900 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
612.800 |
789.200 |
1449.700 |
|
|
Other Current Liabilities |
877.200
|
837.000
|
458.200 |
|
|
Provisions |
578.200
|
555.600
|
546.400 |
|
Total
Current Liabilities |
2068.200
|
2181.800
|
2454.300 |
|
|
Net Current Assets |
7718.600
|
5635.100
|
4448.600 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
30633.500 |
26269.300 |
23770.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5502.500 |
5199.900 |
5272.400 |
|
|
|
Other Income |
283.700 |
144.800 |
114.900 |
|
|
|
TOTAL (A) |
5786.200 |
5344.700 |
5387.300 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating, Selling and Other Expenses |
2959.100 |
2631.500 |
2675.700 |
|
|
|
Exceptional Items |
0.000 |
(278.600) |
(770.500) |
|
|
|
Impact of discontinuing operations |
0.000 |
2604.600 |
0.000 |
|
|
|
Exceptional Expenditure |
0.000 |
0.000 |
(510.900) |
|
|
|
TOTAL (B) |
2959.100 |
4957.500 |
2416.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2827.100 |
387.200 |
2971.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1228.100 |
943.300 |
617.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1599.000 |
(556.100) |
2353.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
517.500 |
405.000 |
479.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1081.500 |
(961.100) |
1873.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(112.400) |
35.000 |
27.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1193.900 |
(996.100) |
1845.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1220.300 |
842.100 |
747.000 |
|
|
|
|
|
|
|
|
|
|
FCCB
Redemptoion Reserve Written Back |
0.000 |
2341.600 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
60.000 |
60.000 |
90.000 |
|
|
|
FCCB Redemption
Reserve |
0.000 |
536.600 |
1356.600 |
|
|
|
Proposed
Dividend - Equity Shares |
288.000 |
253.200 |
196.100 |
|
|
|
Residual
Dividend Paid |
34.600 |
0.200 |
0.200 |
|
|
|
Proposed
Dividend - Preference Shares |
10.300 |
10.300 |
10.300 |
|
|
|
Interim Dividend
- Preference Shares |
53.200 |
53.200 |
53.200 |
|
|
|
Corporate
Dividend Tax |
62.000 |
53.800 |
44.200 |
|
|
BALANCE CARRIED
TO THE B/S |
1906.100 |
1220.300 |
842.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income from Operations |
1739.100 |
1686.900 |
1484.200 |
|
|
TOTAL EARNINGS |
1739.100 |
1686.900 |
1484.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.700 |
434.200 |
97.800 |
|
|
TOTAL IMPORTS |
0.700 |
434.200 |
97.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
5.85 |
(7.12) |
13.55 |
|
|
|
- Diluted |
5.83 |
(7.04) |
13.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
20.63
|
(18.64) |
34.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.65
|
(18.48) |
35.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.04
|
(9.50) |
17.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
(0.10) |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.59
|
1.84 |
2.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.73
|
3.58 |
2.81 |
LOCAL AGENCY FURTHER INFORMATION
The details of
sundry creditors:
Rs.
In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
- Dues to micro, small and medium enterprises |
-- |
-- |
1400.100 |
|
- others |
612.800 |
789.200 |
49.600 |
|
Total |
612.800 |
789.200 |
1449.700 |
Contingent Liabilities not provided for in respect of:-
Rs. In Millions
|
|
31.03.2011 |
|
Outstanding guarantees |
6791.000 |
|
Premium on redemption of FCCB |
433.200 |
Fixed Assets:
- Goodwill
- Software products
- Business and commercial rights
- Land – leasehold
- Other income
- Building – Owned and Leasehold
- Leasehold improvements
- Plant and machinery / Electrical installations
- Computers
- Furniture and fixtures
- Office equipment
- Vehicles
PRESS RELEASE:
3i Infotech’s Revenue at Rs. 25874.800 millions and Profit at Rs. 2535.700 millions for fiscal 2011..
FINANCIAL HIGHLIGHTS
Consolidated results for the year ended 31.03.2011
- Revenue for
the year is Rs. 25874.800 millions, representing a YoY growth of 4.8%.
This is constituted by a growth of 13.8% in IT Solutions and a decline by
10.4% in Transaction services business
- Profit before
interest, depreciation and tax is at Rs 5218.400 millions,
representing a growth of 3.7% over the previous year
- Profit after
tax and before exceptional items and impact of discontinuing operations is
at Rs. 2535.700 millions, as against Rs. 2659.500 millions for the
previous year
- Earnings per
share (EPS) before exceptional items is at Rs. 12.81 as compared to Rs.
17.21 in the previous year. The decline is mainly due to the additional
shares issued pursuant to the QIP done by the Company in April 2010.
Consolidated results for the quarter ended 31.03.2011
- Revenue for
the quarter is Rs. 6534.600 millions as against Rs. 6326.000 millions for
the corresponding period of the previous year and Rs. 6453.100 millions in
the immediately preceeding quarter. On a year on year basis, revenue from
IT Solutions grew by 23.1% while revenue from Transaction service business
declined by 28.1%
- Profit before
interest, depreciation and tax (PBIDT) is at Rs. 1278.500
millions as compared to Rs. 1281.700 millions in the corresponding quarter
of the previous year and Rs. 1306.300 millions in the immediately
preceeding quarter.
- Profit after tax for the quarter is at Rs 634.100 millions. This profit is strictly not comparable with the profit after tax in the corresponding period of the previous year due to impact of discontinuing operations of the citizen service centres having been taken in that period.
Commenting on the results, Mr. V. Srinivasan, Managing
Director and Global CEO, 3i Infotech Limited, said, “With
strong demand in the emerging markets coupled with increased technology
adoption in the BFSI sector, we are optimistic about the business outlook for
FY12.”
Dividend
The Board of Directors has recommended a dividend of Rs 1.50 per Equity
share
About 3i Infotech
3i Infotech (www.3i-infotech.com) provides software products and IT
services for the Banking, Financial Services and Insurance (BFSI);
Manufacturing, Retail and Distribution; and Government verticals. The Company's
quality certifications include ISO 9001:2008 for BPO, ISO/IEC 27001:2005 for
Data Center Operations and ISO/IEC 20000-1:2005 for Data Center Management
Services. The Company has embarked on re-appraisal under SEI CMMI ML 5 for some
of its software development Centers in
By using its domain knowledge and through continuous investment in
technologies, 3i Infotech enables corporations transform their businesses
through its expertise in enterprise-class software solutions, software services
including Testing Services, information security consulting, system integration
services, IT infrastructure and Disaster Recovery solutions
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 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.44.59 |
|
|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.64.81 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
60 |
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.