MIRA
INFORM REPORT
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Report Date : |
11.08.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
2/10, 3rd Floor, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
25.04.2001 |
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Com. Reg. No.: |
08-028944 |
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Capital
Investment / Paid-up Capital : |
Rs.200.000 Millions |
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CIN No.: [Company
Identification No.] |
U72900KA2001PLC028944 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Software Solutions Providers for GIS, CAD Based Companies |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for 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 |
LOCATIONS
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Registered Office : |
2/10, 3rd Floor, Ajay Plaza, N S Palya, Bannerghatta Road,
Bangalore- 560076, Karnataka, India. |
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Tel. No.: |
91-80-41559501/26787923 |
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Fax No.: |
91-80-26789553 |
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E-Mail : |
corp@acropetal.com (Corporate Information) support@acropetal.com (Support Information) |
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Website : |
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. |
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Designation : |
Managing Director |
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Address; |
Flat No E 1201 Mantri Eligence, N S Palya, |
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Date of Birth: |
28.05.1968 |
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Qualification: |
B.F |
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Experience: |
18 Years |
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Date of Appointment : |
25.04.2001 |
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DIN No.: |
01557904 |
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Name : |
Mr. Mohan Hosahally Ramakrishna |
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Designation : |
Additional Director |
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Address : |
69 Afrose Mansion, 1st Main, Chola Nagar, R T Nagar, |
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Date of Birth/Age : |
07.05.1974 |
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Date of Appointment : |
14.11.2006 |
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DIN No.: |
02034857 |
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Email : |
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Name : |
Mr. Subrahmanya Dandala Kannayya Reddy |
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Designation : |
Director appointed as casual vacancy |
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Address : |
4-70-4 Lawsons Bay Colony, Behind Andhra Bank, Visakhapatnam-530017, |
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Date of Birth/Age : |
09.09.1933 |
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Date of Appointment : |
11.12.2009 |
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DIN No.: |
02862329 |
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Name : |
Mr Ramdas Janardhana Kamath |
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Designation : |
Additional Director |
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Address : |
‘LEELA’, 707, 12 Cross, 7th Block, Jayanagar, |
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Date of Birth/Age : |
28.04.1941 |
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Date of Appointment : |
27.09.2010 |
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DIN No.: |
00035386 |
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Email : |
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Name : |
Mr Ashok Kumar Gopal Rao Jultha |
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Designation : |
Additional Director |
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Address : |
204, Saphire Nest, 113, Jagdishnagar, BG, |
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Date of Birth/Age : |
21.02.1975 |
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Date of Appointment : |
27.09.2010 |
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DIN No.: |
02083433 |
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Email : |
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Name : |
Mr. Mathew James Manimala |
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Designation : |
Director appointed as casual vacancy |
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Address : |
35 Spring Valley, Gollahalli Bannerghatta, |
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Date of Birth/Age : |
07.06.1950 |
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Date of Appointment : |
27.09.2010 |
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DIN No.: |
02861283 |
KEY EXECUTIVES
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Name : |
Ms. Shobha Sudhakar Acharya |
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Designation : |
Secretary |
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Address: |
1st |
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Date of Appointment : |
01.07.2009 |
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PAN No.: |
AJLPA3219K |
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Name : |
Mr. Jamili Jalaiah |
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Designation : |
Executive Vice President - Strategy |
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Date of Birth/Age : |
54 Years |
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Qualification : |
LLB, Member of ICSI and ICWAI |
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Experience : |
25 Years |
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Date of Appointment : |
22.10.2009 |
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Name : |
Mr. Sanjay Prasad |
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Designation : |
Executive Vice President - Technology Solutions Group |
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Name : |
Mr. Ajoy Sridhar |
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Designation : |
Sales (SAP Practice) |
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Name : |
Mr. Sudhendu Kumar Basu |
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Designation : |
Vice President (Finance) |
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Date of Birth/Age : |
43 Years |
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Qualification : |
B.Com (Hons), Member of ICAI and ICWAI |
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Experience : |
12 Years |
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Date of Appointment : |
1.12.2008 |
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Name : |
Mr. Ashok Prabhu |
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Designation : |
Sr. VP and Head Technology Solutions |
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Name : |
Mr. Ramesh S Shetty |
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Designation : |
Vice President
Technology Solutions |
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Name : |
Mr. Sudheer Kumar Raju |
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Designation : |
Delivery Head - |
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Name : |
Mr. M. Prabhakar Kini |
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Designation : |
Advisor |
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Name : |
Mr. Pavaman Y. A. |
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Designation : |
Executive Vice
President-Business Solutions |
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Name : |
Mrs.Nanda Rao |
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Designation : |
Executive Vice President-
Consulting |
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Name : |
Dr. Rajesh Nair |
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Designation : |
Executive Vice President and Head – Energy and Environment |
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Name : |
Mr. Ramalingam Srinivasan |
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Designation : |
Sr. VP and Head Technology Solutions |
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Name : |
Mr. Rahuldev A. Holla |
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Designation : |
Vice President Technology
Solutions |
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Date of Birth/Age : |
42 Years |
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Qualification : |
B.F. (Computer Science) |
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Experience : |
17 Years |
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Date of Appointment : |
01.09.2008 |
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Name : |
Mr. Sandeep K. Krishnan |
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Designation : |
Head - Human Resources |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
17145000 |
44.09 |
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|
17145000 |
44.09 |
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Total shareholding of Promoter and Promoter Group (A) |
17145000 |
44.09 |
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(B) Public Shareholding |
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|
4949282 |
12.73 |
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|
4949282 |
12.73 |
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|
7735753 |
19.89 |
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|
5969627 |
15.35 |
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|
2588356 |
6.66 |
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|
502340 |
1.29 |
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|
340358 |
0.88 |
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161982 |
0.42 |
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|
16796076 |
43.19 |
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Total Public shareholding (B) |
21745358 |
55.91 |
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Total (A)+(B) |
38890358 |
100.00 |
|
(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) |
38890358 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 Million
BUSINESS DETAILS
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Line of Business : |
Software Solutions Providers for GIS, CAD Based Companies |
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Products: |
Software |
GENERAL INFORMATION
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Bankers : |
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Rs in Millions |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K. Gopalkrishnan and Company Chartered Accountant |
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Address : |
NBo.120, |
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Tel. No.: |
91-80-22868388/41132735 |
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PAN No.: |
AANPG3977D |
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E-Mail : |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400,000,00 |
Equity Share |
Rs.10/- each |
Rs.400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200,000,00 |
Equity Share |
Rs.10/- each |
Rs.200.000
Millions |
NOTE:
Includes 16000000 of Bonus Shares of Rs 10/- each
and 2000000 shares of Rs 10/- each at a premium of Rs 90/-(Previous years
5000000 Equity Shares of Rs 10/- Each including 3000000 of Bonus Shares of Rs
10/- each)
AS ON 27.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400,000,00 |
Equity Share |
Rs.10/- each |
Rs.400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
388,903,58 |
Equity Share |
Rs.10/- each |
Rs.388.906
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
200.000 |
50.000 |
50.000 |
|
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2] Share Application Money |
0.000 |
200.000 |
144.090 |
|
|
3] Reserves & Surplus |
650.277 |
420.277 |
260.268 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
850.277 |
670.277 |
454.358 |
|
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LOAN FUNDS |
|
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|
1] Secured Loans |
776.023 |
622.307 |
371.950 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
776.023 |
622.307 |
371.950 |
|
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DEFERRED TAX LIABILITIES |
29.091 |
31.871 |
14.203 |
|
|
|
|
|
|
|
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TOTAL |
1655.391 |
1324.455 |
840.511 |
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
947.700 |
733.830 |
439.377 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
61.136 |
66.605 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
33.728
|
18.647
|
11.007 |
|
|
Sundry Debtors |
449.631
|
454.616
|
326.061 |
|
|
Cash & Bank Balances |
66.959
|
90.455
|
44.555 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
174.213
|
66.972
|
101.471 |
|
Total
Current Assets |
724.531
|
630.690
|
483.094 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.065
|
61.096
|
1.841 |
|
|
Other Current Liabilities |
72.658
|
44.724
|
79.269 |
|
|
Provisions |
2.253
|
0.850
|
0.850 |
|
Total
Current Liabilities |
77.976
|
106.670
|
81.960 |
|
|
Net Current Assets |
646.555
|
524.020
|
401.134 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1655.391 |
1324.455 |
840.511 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1068.290 |
893.039 |
603.148 |
|
|
|
Other Income |
(2.519) |
27.369 |
(8.630) |
|
|
|
TOTAL (A) |
1065.771 |
920.408 |
594.518 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in inventories |
(15.080) |
(7.640) |
(2.485) |
|
|
|
Employee related and on site development expenses |
558.557 |
527.104 |
364.042 |
|
|
|
General and administrative expenses |
40.311 |
37.245 |
32.041 |
|
|
|
Selling and marketing expenses |
58.376 |
10.384 |
7.239 |
|
|
|
TOTAL (B) |
642.164 |
567.093 |
400.837 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
463.607 |
353.315 |
193.681 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
96.376 |
81.706 |
23.848 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
327.231 |
271.609 |
169.833 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
134.071 |
87.444 |
23.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
193.160 |
184.165 |
140.755 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.349) |
18.307 |
10.119 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
195.509 |
165.858 |
130.636 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
13.256 |
5.000 |
5.000 |
|
|
|
Transfer to General Reserve |
60.028 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
2.253 |
0.850 |
0.850 |
|
|
BALANCE CARRIED
TO THE B/S |
119.972 |
160.008 |
124.766 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
893.039 |
603.148 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
10.43 |
9.21 |
26.13 |
|
|
|
Diluted |
9.78 |
8.63 |
21.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
18.34
|
18.02
|
21.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.08
|
20.62
|
23.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.55
|
13.49
|
15.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.27
|
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.00
|
1.09
|
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.29
|
5.91
|
5.89 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10073698 |
|
Corporate
identity number of the company |
U72900KA2001PLC028944 |
|
Name of the
company |
ACROPETAL TECHNOLOGOES LIMITED |
|
Address of the
registered office or of the principal place of business in |
2/10, 3rd Floor, Ajay Plaza, N S Palya, Bannerghatta Road,
Bangalore- 560076, Karnataka, India |
|
Type of charge |
Book Debts Immovable
Property Movable Property Floating Charge |
|
Particular of
charge holder |
Axis Bank Limited, M. G. Road Branch, No.9, |
|
Nature of
description of the instrument creating or modifying the charge |
Amendment cum
Link Agreement |
|
Date of
instrument Creating the charge |
09.06.2011 |
|
Amount secured by
the charge |
Rs 378.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC- base Rate +
5% p.a Export finance-
as detailed in the amendment cum link agreement Other
limits(including Term Loan) – As per Existing / Sanction terms Terms of
Repayment CC- Running
account repayable on demand Export finance-
as per sanction terms Term Loan - As
per Existing / Sanction terms BG – Period –
Maximum up to 36 months inclusive of claim period BGsunder EPCG
Scheme: 10 Years LC- Maximum
usance up to 180days Margin CC- 25% Term Loan - As
per Existing / Sanction terms LC- 10% to be
collected upfront and kept in TDRwith Bank’s lien noted thereon BG - 10% to be collected
upfront and kept in TDRwith Bank’s lien noted thereon and 100% cash of
disouted liabilities Extent and
Operation of the charge The charge shall
operate to the extend of the loan amount plus interest commission cost
expenses and other charges thereon The charge on the
current assets created herein shall cover only the working capital limits
aggregating Rs 145.000 Millions Charge on the
other assets shall cover the whole amount of Rs 378.000 Millions in the
manner described at SI. No. 15 infra Others The said amount
of Rs 378.000 Millions comprises working capital limits of Rs 145.000
Millions realigned (comprising CC/EPC/FBP Rs 100.000 Millions, LC/BG Rs
20.000 Millions and ELR Rs 25.000 Millions) and corporate term loan Rs
100.000 Millions and term loan rs 133.000 Millions continued at existing
level. |
|
Short particulars
of the property charged |
i) First Charge
on the entire current assets, present and future, of the company an pari
passu basis with other working capital financing banks ii) first charge
on the entire unencumbered fixed assets, present and future, of the company
on pari passu basis with other workink capital financing banks (Other than
movable fixed assets created out of loan from Axis bank and SBT and specific assets funded by South Indian Bank, United
Bank of India and SBT) iii) Em of Land
and building at : Sy no 237 and 239, situated at site No. 255 /B, Bommasandra
KIADB Area, Attibele Hobli, Anekal Taluk, Bangalore, (which is exclusively
charged to Axis Bank)admeasuring 5902 sq.mtrs and second charge on the
immovable property, units 2 located at No. 8, PID No. 65-321-8, 3rd
main Road, Industrial Area, N S Payla, Bannerghatta Road, Bangalore – 560076,
which is presently mortgaged to SBT on first charge basis for its present
term loan exposure of Rs 50.000 millions as on 15.03.2011 |
|
Date of latest
modification prior to the present modification |
18.01.2010 |
|
Particulars of
the present modification |
By the above, the
amount secured by charge stands renewed at existing level with realignment of
working capital limits and continuation of the corporate term loan / term
loan. Further, the basis of charging interest is changed from Prime Lending
rate method to Base Rate method.(All other term and condition remain
unchanged) |
Fixed Assets:
- Land
- Building
- Computers and
computer Accessories
- Software
Application Packages
- Furniture and
Fittings
- Electrical
and Networking
- Office
Equipments
- Air
Conditioners
- UPS and
Generators
- Vehicle
- Office
Interiors
Contingent Liabilities:
Corporate guarantee in favour of UPS capital
Inc. for the loan availed by vision info Inc. Rs.156.059 Millions.
WEBSITE DETAILS:
HISTORY
AND GROWTH
Subject, has grown into an accomplished IT services
organization within a short span of nine years. Started in 2001 as an
Engineering Design Services company, Acropetal focused on building its cutting
edge practices and delivery excellence. Their maiden contract was with Saudi
Oger Ltd. which helped them establish their competence in a varied range of
Engineering Design Services like Architecture, Structural, Electrical,
Plumbing, Steel Detailing, External Utilities, and Design Engineering. They saw
an unprecedented expansion in their domestic and international service
offerings between the years 2002 and 2004. They also expanded their IT services
to the clients based in the
The year 2007 initiated critical strategic developments in
Subject., with investments in Healthcare and Energy and Environment sectors.
And as a mark of their continued growth and resilience they received their
second award for the Fastest Growing SME by the Government of Karnataka's STPI
and Department of IT & BT in 2009. They also recieved the prestigious STPI
Award for the third time for "High Growth" in 2009-2010. Subject.,
was also received its ISO 9001:2008 certification in the same year.
Acropetal will remain focused on creating value through well
aligned strategies that assist in making prudent choices in offerings, research
and development, domain expertise, and growth.
STRATEGIES
CUSTOMER/SERVICES
PORTFOLIO MIX:
Acropetal's current strategy is to focus on resilient
sectors like Health and Energy. They are looking at offering complete
end-to-end solutions for these sectors. Their eventual focus will be to deepen
end-to-end capabilities in select areas.
BUSINESS
MODEL INNOVATIONS:
Acropetal is building products and strategic alliances with
product companies. This strategy will enable them to build a service portfolio
around their products. They will also offer their Healthcare,
STRENGTHEN
OPERATIONS/DELIVERY:
Acropetal's current geographic spread is in the
MAKING
STRATEGIC ALLIANCES:
Acropetal's strategy of being an end-to-end solution provider
for select industry verticals will be achieved through both organic and
inorganic growth. They will make strategic investments and build strategic
alliances with niche product or service companies in their industry verticals.
They also intend to make acquisitions in complimentary competency companies,
which would enable them to provide entire solution-value proposition to their
customers. They currently have strategic investments in Binary Spectrum, a
healthcare product company; Ecologix, an energy product company; Vault Info, an
R&D
INCUBATION CENTRE:
They have created an Incubation Business Unit (IBU) with a
mission to accelerate and influence their corporate and individual business
units' strategic goals. Acropetal will invest by:
- Providing
infrastructure
- Business case
development
- Marketing
support for "new product ideas/initiatives"
This can stimulate new vertical and horizontal markets for
Acropetal's services. The IBU will also create new and complementary
technologies and businesses. Once these businesses mature, they will either
integrate the incubation unit on a strategic fit, or else divest.
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.45.21 |
|
|
1 |
Rs.73.51 |
|
Euro |
1 |
Rs.64.76 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.