MIRA
INFORM REPORT
|
Report Date : |
01.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
UTV ENTERTAINMENT TELEVISION LIMITED (w.e.f. 05.11.2007) |
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Formerly Known
As : |
V AND S BROADCASTING LIMITED V AND S BROADCASTING PRIVATE LIMITED |
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Registered
Office : |
7th Floor, Building No.11, Solitaire Corporate Park, Guru
Hargovindji Marg, Chakala, Andheri (East), Mumbai- 400093, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.04.2007 |
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Com. Reg. No.: |
11-170405 |
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Capital
Investment / Paid-up Capital : |
Rs.64.640 Millions |
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CIN No.: [Company Identification
No.] |
U64200MH2007PLC170405 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14871D |
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PAN No.: [Permanent Account No.] |
AACCV4782D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
They are engaged into Broadcasting Business. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 4330000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some caution.
|
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Rohit |
|
Designation : |
Finance Manager |
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Contact No.: |
91-22-40981520 |
|
Date : |
30.11.2011 |
LOCATIONS
|
Registered Office : |
7th Floor, Building No.11, Solitaire Corporate Park, Guru Hargovindji
Marg, Chakala, Andheri (East), Mumbai-400 093, Maharashtra, India |
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Tel. No.: |
91-22-40981400 |
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Fax No.: |
91-22-40981650/ 40981510 |
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E-Mail : |
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Location : |
Owned |
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Head Office : |
A-18 and A-19, Sector 16, Noida – 201301, Uttar Pradesh, India |
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Tel No.: |
91-120-4695353 |
DIRECTORS
AS ON 06.07.2011
|
Name : |
Mrs.
Zarina Mehta |
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Designation : |
Director |
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Address : |
Flat No.11 and 12, Breach Candy House. 5th
Floor, 68, |
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Date of Birth/Age : |
06.11.1961 |
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Date of Appointment : |
20.04.2007 |
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DIN No.: |
00004518 |
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Other Directorship :
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Name : |
Mr.
Rohinton Screwvala |
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Designation : |
Director |
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Address : |
Flat No.11 and 12, Breach Candy House. 5th
Floor, 68, Bhulabhai Desai Road, Opposite Premson, Mumbai-400 026,
Maharashtra, India |
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Date of Birth/Age : |
08.09.2010 |
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Date of Appointment : |
28.04.2007 |
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DIN No.: |
00003423 |
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Other Directorship :
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Name : |
Mr. Deven Khote |
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Designation : |
Director |
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Address : |
Ashoka
Apartment, 1st Floor, |
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Date of Birth/Age : |
05.04.1962 |
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Date of Appointment : |
19.07.2007 |
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DIN No.: |
00003461 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr.
Puneet Juneja |
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Designation : |
Company
Secretary |
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Address : |
303,
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Date of Birth/Age : |
23.09.1979 |
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Date of Appointment : |
28.04.2010 |
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PAN No.: |
AFRPJ9169H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 06.07.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
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|
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|
UTV Global Broadcasting Limited, |
|
5573994 |
|
Rohinton Screwala |
|
1 |
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Zarina Mehta |
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1 |
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Jignesh Kenia |
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1 |
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Mohd. Sajid Ali |
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1 |
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Jyotsna Tandel |
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1 |
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Amit Banka |
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1 |
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Total |
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5574000 |
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Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
UTV Global Broadcasting Limited, |
|
890000 |
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Total |
|
890000 |
(AS ON 30.09.2011)
Equity Share Breakup
|
Category |
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Percentage |
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Bodies
corporate (not mentioned above |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
They are engaged into Broadcasting Business. |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
· Axis Bank, Credit Management center, Unit No.6, Corporate Park, Chembur Branch,
Mumbai – 400071, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution: |
· SICOM Limited, Nirmal Building, 1st Floor, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Auditors : |
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Name : |
Price Waterhouse and Company Chartered Accountants |
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Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra,
India |
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PAN No.: |
AADFP9359C |
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Ultimate Holding Company : |
UTV Software Communications Limited |
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Holding Company : |
UTV Global Broadcasting Limited, CIN No.: U32300MH2007PLC171337 |
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Fellow Subsidiaries : |
·
Genx Entertainment Limited ·
UTV New Media Limited ·
UTV Communications ( ·
IG Interactive Entertainment Limited ·
Indiagames Limited ·
Ignition Entertainment Limited, ·
Ignition London Limited (Formerly known as Digi
Guys Limited) ·
Ignition Entertainment Limited, ·
UTV Games Limited ·
True Games Interactive ·
UTV TV Content Limited ·
RB Entertainment Limited ·
First Future Agri. and Developers Limited ·
UTV Tele Talkies Limited ·
Screenshot Television Limited (Formerly known as
Smriti Irani Television Limited) |
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|
|
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Other related parties where common control exists : |
·
UTV News Limited ·
Unilazer Media Limited ·
Unilazer Holdings Limited ·
Television News and Entertainment ( ·
Vijay Broadcasting Private Limited ·
United Tele-Shopping and Marketing Company
Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9550000 |
Equity Shares |
Rs.10/- each |
Rs.95.500 millions |
|
1500000 |
Preference Shares |
Rs.10/- each |
Rs.15.000 millions |
|
|
|
|
|
|
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Total |
|
Rs.110.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5574000 |
Equity Shares |
Rs.10/- each |
Rs.55.740
millions |
|
890000 |
1% Non Cumulative, Convertible and/or Redeemable Preference Shares |
Rs.10/- each |
Rs.8.900
millions |
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|
|
|
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Total |
|
Rs.64.640 millions |
NOTES:
i. On December 30,
2009, The Company has increased its Authorised Equity Share Capital from
Rs.10.000 millions to Rs.11.050 millions and further reclassified 6,000,000
Preference Shares into 6,000,000 Equity Shares of Rs.10 each.
ii. On December
30, 2009, 5,000,000 Equity Shares of Rs.10 each were issued to UTV Global
Broadcasting Limited on conversion of 5,000,000 Zero coupon Convertible
Preference Shares of Rs.10 each.
iii. On February
10, 2010, 1,500,000 Authorised Equity Shares of Rs. 10 each were reclassified
to 1,500,000 Authorised Preference Shares of Rs.10 each.
iv. On February
10, 2010, 524,000 equity shares of Rs 10 each at a premium of Rs.2290 per
Equity share and 8,90,000,1% Non Cumulative, Convertible and/or Redeemable
Preference Shares of Rs.10 each were issued to UTV Global Broadcasting Limited
in lieu of part of the Unsecured Loan.
v. The Preference
Shares were issued on 10th February 2010 to UTV Global Broadcasting
Limited and are convertible and/or redeemable at later date and such terms and
conditions as may be mutually agreed by the Board of Directors of the Company
and UTV Global Broadcasting Limited.
The Term will
exceed a period of 20 years from the date of allotment of said preference
shares.
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 |
|
|
|
|
|
1] Share Capital |
64.640 |
64.640 |
50.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2288.060 |
2288.060 |
0.000 |
|
|
4] (Accumulated Losses) |
(1269.894) |
(1564.477) |
(1919.569) |
|
|
NETWORTH |
1082.806 |
788.223 |
(1869.069) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
499.305 |
|
|
2] Unsecured Loans |
8.200 |
218.800 |
1950.000 |
|
|
TOTAL BORROWING |
8.200 |
218.800 |
2449.305 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1091.006 |
1007.023 |
580.236 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20.229 |
36.907 |
41.686 |
|
|
Capital work-in-progress |
5.924 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
379.445 |
380.000 |
380.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
375.645
|
178.593
|
164.828 |
|
|
Sundry Debtors |
229.139
|
552.661
|
276.407 |
|
|
Cash & Bank Balances |
1.495
|
15.909
|
10.418 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
411.891
|
208.309
|
144.430 |
|
Total
Current Assets |
1018.170
|
955.472
|
596.083 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
184.453 |
312.076 |
397.597 |
|
|
Other Current Liabilities |
147.375
|
50.656
|
37.412 |
|
|
Provisions |
0.934
|
2.624
|
2.524 |
|
Total
Current Liabilities |
332.762
|
365.356
|
437.533 |
|
|
Net Current Assets |
685.408
|
590.116
|
158.550 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1091.006 |
1007.023 |
580.236 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
1031.681 |
1164.105 |
718.290 |
|
|
|
Other Income |
34.361 |
16.368 |
0.216 |
|
|
|
TOTAL (A) |
1066.042 |
1180.473 |
718.506 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Service Cost |
562.018 |
688.116 |
1573.702 |
|
|
|
Employees Related Expenses |
67.613 |
48.838 |
88.450 |
|
|
|
Administrative, Selling and Other Expenses |
133.783 |
66.730 |
144.451 |
|
|
|
TOTAL (B) |
763.414 |
803.684 |
1806.603 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
302.628 |
376.789 |
(1088.097) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
1.811 |
16.367 |
104.235 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
300.817 |
360.422 |
(1192.332) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.679 |
5.330 |
7.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
295.138 |
355.092 |
(1199.766) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.555 |
0.000 |
(379.092) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
294.583 |
355.092 |
(820.674) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1564.477) |
(1919.569) |
(1098.895) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1269.894) |
(1564.477) |
(1919.569) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
Nil
|
Nil
|
1.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
IRD Boxes and Smart Card |
5.924 |
-- |
2.062 |
|
|
TOTAL IMPORTS |
5.924 |
-- |
2.062 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
Basic |
53.00 |
257.00 |
(16413.00) |
|
|
|
Diluted |
53.00 |
257.00 |
(16413.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
27.63
|
30.08
|
(114.22) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
28.61
|
30.05
|
(167.03) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.42
|
35.78
|
(188.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.45
|
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.31
|
0.74
|
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.06
|
2.62
|
1.36 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors for Capital Goods, Materials and Expenses |
|
|
|
|
- Micro and Small Enterprises |
-- |
-- |
-- |
|
- Others |
184.453 |
312.076 |
397.597 |
|
|
|
|
|
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
------- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last two years |
Yes |
|
Profitability for last three years |
------- |
|
Reasons for variation <> 20% |
------- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
No |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
------- |
|
Market Information |
------- |
|
Litigations that the firm/ Promoters Involved in |
------- |
|
Banking details |
Yes |
|
Banking Facility Details |
------- |
|
Conduct of the Banking Account |
------- |
|
Buyer visit details |
------- |
|
Financials, if provided |
No |
|
Incorporation details is applicable |
------- |
|
Last Accounts filed at ROC |
------- |
|
Major Shareholders, if available |
------- |
NOTE:
Registered office of the company has been shifted from Parijaat House,
1076, Dr. E Moses Road, Worli Naka, Mumbai - 400 018, Maharashtra to the
present address w.e.f.15.05.2010
BACKGROUND OF THE
COMPANY
The Company was incorporated in India as a Public Limited Company under the Companies Act, 1956 on April 28, 2007. The Company is a subsidiary of UTV Global Broadcasting Limited (“UGBL”) which in turn is the subsidiary of UTV Software Communications Limited (“USCL”). The Company owns and operates two channels namely ‘UTV Movies’ and ‘UTV World Movies’.
BUSINESS OVERVIEW
The Company owns and operates two channels namely ‘UTV Movies’ and ‘World Movies’.
UTV Movies caters to one of the biggest entertainment genres on Indian Television - Hindi movies. While it has access to an enviable slate of movies from the UTV library which includes the biggest blockbusters, it has also acquired movies from multiple companies across India. Despite being the youngest in the genre, the channel continues to enjoy patronage both from audiences and advertisers. The GRPs have grown from 30 to 40 during the year. The GRPs reached a peak of 52 during the year. The channel intends to further strengthen its library during the coming financial year.
World Movies is the first channel of its kind which brings International cinema to Indian television for the first time. World Movies has acquired International blockbusters in varied languages like Italian, French, German, Spanish, Polish, Japanese, Korean, Chinese and many more. Today the channel is a brand that covers four major verticals – Television, Theatrical, DVD and Print with a magazine that goes out to audiences interested in World Cinema.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In
Millions) |
|
|
|
|
|
|
Income tax appeal before Commissioner of Income Tax for Assessment
Years 2008-09/2009-10/2010-11/2011-12 |
45.815 |
-- |
|
|
|
|
FORM 8:
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U64200MH2007PLC170405 |
|
Name of the
company |
UTV ENTERTAINMENT
TELEVISION LIMITED |
|
Address of the
registered office or of the principal place of business in |
7th Floor, Building No.11, Solitaire Corporate Park, Guru
Hargovindji Marg, Chakala, Andheri (East), Mumbai-400 093, Maharashtra, India
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property
(Not being Pledge) Floating charge Others Current Assets
including Content Library |
|
Particular of
charge holder |
· Axis Bank, Credit Management center, Unit No.6, Corporate Park, Chembur Branch,
Mumbai – 400071, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Composite Hypothecation
Agreement dated 28th February 2011 executed in favour of Axis Bank creating
charge on movable properties, current assets including content library of the
Company. |
|
Date of
instrument Creating the charge |
28.02.2011 |
|
Amount secured by
the charge |
Rs.250.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit- at
3.75% above Axis Bank's Base Rate and Purchase
Bill Discounting-at 2% above Axis Bank's Base Rate Terms of
Repayment Cash Credit and
Purchase Bill Discounting- On Demand Margin On Purchase Bill
Discounting: 10% On Cash Credit
facility-25% on RM; 25% on SIP; 25% on FG; 25% on Stores and Spares and 25%
on Book Debts Extent and
Operation of the charge Towards repayment
of the principal amount of the Loan together with payment of all interest,
penal interest, liquidated damages, fees, premium on prepayment,
reimbursement of all costs, charges and expenses and all other monies due to
the lender. |
|
Short particulars
of the property charged |
First pari passu
charge on all movable properties, current assets including content library of
the Company. |
FIXED ASSETS:
Tangible Assets
·
Plant and Machinery
·
Furniture and Fixtures
·
Computers
·
Office Equipments
·
Leasehold Improvements
Intangible Assets
·
Computer Software
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.52.17 |
|
|
1 |
Rs.81.29 |
|
Euro |
1 |
Rs.69.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.