MIRA
INFORM REPORT
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Report Date : |
07.01.2011 |
IDENTIFICATION DETAILS
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Name : |
NUC SOFT LIMITED |
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Formerly Known
As : |
NUCLEUS SOFTWARE OFFSHORE ( |
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Registered
Office : |
F-104, Ashish Complex, Opposite Supreme Enclave, Mayur Vihay, Phase –
1, |
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Country : |
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Financials (as
on) : |
31.03.2010 (Profit and Loss Account) |
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Date of
Incorporation : |
23.06.1994 |
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Com. Reg. No.: |
55-059779 |
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CIN No.: [Company Identification
No.] |
U74899DL1994PLC059779 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Software Services. |
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 95000 |
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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. Balance Sheet of the company for the current year is not available. |
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 PARTED BY
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Name : |
Mr. Girish |
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Designation : |
Accountant |
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Contact No.: |
91-22-66920560 |
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Date : |
06.01.2010 |
LOCATIONS
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Registered Office : |
F-104, Ashish Complex, Opposite Supreme Enclave, Mayur Vihay, Phase –
1, |
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Tel. No.: |
91-11-22258445 |
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E-Mail : |
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Website : |
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Area : |
2000 sq ft |
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Location : |
Owned |
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Corporate Office : |
B-39, Giriraj Industrial Estate, |
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Tel. No.: |
91-22-66920560 |
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Fax No.: |
91-22-66920569 |
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E-Mail : |
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Development Centre : |
Sigma House, 1st Floor, |
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Tel. No.: |
91-22-66920570 |
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Fax No.: |
91-22-66920569 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Arun Shekhar Aran |
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Designation : |
Managing Director and Chief Executive Officer |
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Address : |
902, Brindaban, Poonam Nagar, Off |
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Date of Birth/Age : |
30.04.1959 |
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Date of Appointment : |
23.06.1994 |
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DIN or Income-tax PAN : |
00015335 |
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Name : |
Mr. Arvind Kumar |
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Designation : |
Director |
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Address : |
117, Supreme Enclave, Mayur Vihar, Phase – 1, |
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Date of Birth/Age : |
02.01.1942 |
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Date of Appointment : |
10.03.2000 |
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DIN or Income-tax PAN : |
00636869 |
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Name : |
Mr. Mohammad Umar Nasruddin Maner |
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Designation : |
Whole Time Director |
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Address : |
12, Bulbul CHS Limited, Plot No.50, Sector 9-A, Vashi, Navi Mumbai –
400 703, |
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Date of Birth/Age : |
13.04.1963 |
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Date of Appointment : |
20.04.2000 |
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DIN or Income-tax PAN : |
01549581 |
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Name : |
Mr. Vijay Gopikishan Agarwal |
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Designation : |
Director |
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Address : |
301, Shobhna Sadan, New Jyoti Wing, Gulmohar, Cross Road – 6, Juhu
Scheme, Mumbai – 400 049, Greater Mumbai, Maharashtra, India |
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Date of Birth/Age : |
29.09.1957 |
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Date of Appointment : |
20.04.2000 |
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DIN or Income-tax PAN : |
00058548 |
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Name : |
Mrs. Vinita A.S. Aran |
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Designation : |
Director |
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Address : |
902, Brindaban, Poonam Nagar, Off |
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Date of Birth/Age : |
07.09.1965 |
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Date of Appointment : |
01.05.1999 |
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DIN or Income-tax PAN : |
01581716 |
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Name : |
Mr. Bhushan Thaker |
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Designation : |
Director |
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Name : |
Mr. Shantanu Marathe |
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Designation : |
Director, Open Source Initiatives |
KEY EXECUTIVES
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Name : |
Mr. Girish |
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Designation : |
Accountant |
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Name : |
Mr. Kishore Oka |
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Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
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No. of Shares |
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Arun Shekhar Aran |
|
60600 |
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Yogesh Andlay |
|
11000 |
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Arvind Kumar |
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2500 |
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Vinita Aran |
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16000 |
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Arun Jain |
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1000 |
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Vishnu R.B. Dusad |
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11000 |
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Vinayak Agarwal |
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500 |
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Arun Shekhar Aran, Proprietor Shikha Holdings, |
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62600 |
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Vijay G. Agarwal |
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100 |
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G. Sivasubramanian |
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10000 |
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Total
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|
175300 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
79.00 |
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Other
top fifty shareholders |
|
21.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Software Services. |
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Exports : |
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Products : |
Software Services |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Corporate |
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No. of Employees : |
Above 200 (Approximately) |
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Bankers : |
Citi Bank N.A.,
Citi Tower, 61, Dr. S.S. Rao Road, Parel, Mumbai – 400 012, Maharashtra,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Preeti K. Trivedi Chartered Accountants |
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Address : |
A-101, Plot No.91-94, Prabhat Colony, Santacruz (East), Mumbai – 400 055,
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Income-tax
PAN of auditor or auditor's firm : |
AACPT8281C |
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Associates/Subsidiaries : |
Nucsoft Inc., Nucsoft Inc., E-Mail : Info@nucsoft.co.in Tel. No.: +732 470 6264 Nucsoft Limited, Tel. No.: +44 -
020 - 8733 8242 Fax No.: +44 - 020
- 8733 8241 E-Mail: Info@nucsoft.co.in |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1980000 |
Equity Shares |
Rs.10/- each |
Rs.19.800 millions |
|
20000 |
Redeemable Preference Shares |
Rs.10/- each |
Rs.0.200 million |
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Total
|
|
Rs.20.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
175300 |
Equity Shares |
Rs.10/- each |
Rs.1.753
millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
1.753 |
1.753 |
1.753 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
22.014 |
21.115 |
20.098 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
23.767 |
22.868 |
21.851 |
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LOAN FUNDS |
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1] Secured Loans |
5.431 |
4.217 |
3.565 |
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2] Unsecured Loans |
5.786 |
8.856 |
13.247 |
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TOTAL BORROWING |
11.217 |
13.073 |
16.812 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
34.984 |
35.941 |
38.663 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.313 |
11.278 |
10.959 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.649 |
0.649 |
0.649 |
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DEFERREX TAX ASSETS |
0.714 |
0.493 |
0.133 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
0.000
|
0.000 |
0.000 |
|
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Sundry Debtors |
27.501
|
28.091 |
28.957 |
|
|
Cash & Bank Balances |
1.211
|
3.426 |
4.133 |
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Other Current Assets |
3.512
|
3.351 |
1.918 |
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Loans & Advances |
38.735
|
8.858 |
7.360 |
|
Total
Current Assets |
70.959
|
43.726 |
42.368 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
7.209 |
7.166 |
6.452 |
|
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Other Current Liabilities |
29.416
|
3.599 |
2.232 |
|
|
Provisions |
11.026
|
9.440 |
6.762 |
|
Total
Current Liabilities |
47.651
|
20.205 |
15.446 |
|
|
Net Current Assets |
23.308
|
23.521 |
26.922 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
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|
|
|
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TOTAL |
34.984 |
35.941 |
38.663 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
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SALES |
|
|
|
|
|
|
|
|
Consultancy |
73.669 |
84.377 |
66.855 |
43.424 |
|
|
|
Export Consultancy |
6.117 |
9.738 |
24.164 |
28.227 |
|
|
|
Other Income |
1.643 |
2.703 |
1.995 |
1.838 |
|
|
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TOTAL
(A) |
81.429 |
96.818 |
93.014 |
73.489 |
|
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
|
Operating and Other Expenses |
75.556 |
90.348 |
86.708 |
68.136 |
|
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TOTAL
(B) |
75.556 |
90.348 |
86.708 |
68.136 |
|
|
|
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|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.873 |
6.470 |
6.306 |
5.353 |
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|
|
|
|
|
|
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Less |
INTEREST (D) |
1.631 |
2.187 |
1.977 |
2.009 |
|
|
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|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.242 |
4.283 |
4.329 |
3.344 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.754 |
2.260 |
2.212 |
1.657 |
|
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|
|
|
|
|
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|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.488 |
2.023 |
2.117 |
1.687 |
|
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Less |
TAX (H) |
0.793 |
0.919 |
0.895 |
1.365 |
|
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|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
1.695 |
1.104 |
1.222 |
0.322 |
|
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|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
18.522 |
17.724 |
16.832 |
16.774 |
|
|
|
|
|
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|
|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
Proposed Dividend |
0.263 |
0.176 |
0.175 |
0.162 |
|
|
|
Tax on Proposed Dividend |
0.044 |
0.030 |
0.030 |
0.027 |
|
|
|
Transfer to General Reserve |
0.171 |
0.100 |
0.125 |
0.075 |
|
|
BALANCE CARRIED
TO THE B/S |
19.739 |
18.522 |
17.724 |
16.832 |
|
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|
|
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|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
Export Consultancy |
NA |
9.984 |
24.164 |
28.227 |
|
|
TOTAL EARNINGS |
NA |
9.984 |
24.164 |
28.227 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.57 |
6.33 |
7.00 |
5.00 |
|
(GROUP
COMPANY)
|
Particulars |
|
31.03.2010 (Approximately) |
31.03.2009 (Approximately) |
|
Sales Turnover |
|
300.000 |
300.000 |
|
|
|
|
|
Expected Group Sales (2010-2011): Rs.400.000 millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
2.08
|
1.14 |
1.83 |
0.44 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.38
|
2.40 |
3.17 |
3.88 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.49 |
3.85 |
3.16 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.09 |
0.09 |
0.08 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
NA
|
2.48
|
1.46 |
1.48 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.49 |
2.16 |
2.74 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
31.03.2007 (Rs. in millions) |
|
Sundry Creditors (Other than Small
Scale Industrial Undertakings) |
7.209 |
7.166 |
6.452 |
|
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Name of the company |
NUC SOFT LIMITED |
|
Presented By |
Arun Shekhar Aran
|
|
1) Date and description of instrument creating the change |
23rd
February, 2004 Loan Agreement |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.650 millions
|
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Mortgage of Unit
No.A-42 of Giriraj Industrial Premises Co-Operative Society Limited, |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Term Loan of
Rs.2.650 millions secured against Mortgage of Unit No.A-42 of Giriraj
Industrial Premises Co-Operative Society Limited, Mahakali Caves Road,
Andheri (East), Mumbai – 400 093 in favour of the Bank. Rate of Interest:
12% per annum Tenure of Loan –
84 months Minimum Monthly
Repayments (MMRs): 84 Amount of each
MMR: Rs.0.047 million |
|
5) Name and Address and description of the person entitled to the charge. |
Citi Bank N.A.,
Citi Tower, 61, Dr. S.S. Rao Road, Parel, Mumbai – 400 012, Maharashtra,
India |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
This form is for |
Modification of charge
|
|
Charge
identification number of the modified |
10129347 |
|
Corporate
identity number of the company |
U74899DL1994PLC059779 |
|
Name of the
company |
NUC SOFT LIMITED |
|
Address of the
registered office or of the principal place of business in |
F-104, Ashish Complex, Opposite Supreme Enclave, Mayur Vihay, Phase –
1, |
|
Type of charge |
Immovable property Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Citi Bank N.A.,
Citi Tower, 61, Dr. S.S. Rao Road, Parel, Mumbai – 400 012, E-Mail: vlaxman@vsnl.com |
|
Nature of
description of the instrument creating or modifying the charge |
a) Loan Agreement;
b) Deed of
Hypothecation ; and c) Memorandum of
Entry recording past transaction of Equitable Mortgage by deposit of title
deeds. (Collectively
constitute a single charge for Rs.8.900 millions) |
|
Date of
instrument Creating the charge |
27/04/2009 |
|
Amount secured by
the charge |
Rs.8.900 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: AROD facility
Rs.4.500 millions: Interest @ 10.50% over and above/less than the applicable
Citibank PLR which is currently 15.00% p.a.
applicable rate 15.50% ; and MITL Rs.4.400
millions: Interest @ 1.00% over and
above/less than the applicable Citibank PLR which is currently 15.00%
p.a. applicable rate 14.00% Terms of
Repayment: AROD facility
Rs.4.500 millions shall be Annually Renewable. MITL of Rs.4.400
millions shall be repayable in 60 months. Margin: As may be
stipulated by Bank from time to time. Extent and
Operation of the charge: (i) The Company accorded
and gave oral consent to Bank to continue to hold and retain the title deeds
(by way of Constructive delivery) in respect of its existing and additional
immovable properties as security for repayment of Rs.8.900 millions by
Company, (ii) Hypothecation
by way of first and exclusive charge over the stocks and Book Debts of the
Company |
|
Short particulars
of the property charged |
(i) Immovable
properties bearing Unit # 42, 1st
Floor, A Wing and Unit # 39, 1st Floor, B Wing, Giriraj Industrial
Estate, Mahakali Caves Road, Andheri (East), Mumbai - 400 093 ; and (ii)
Hypothecation of all Stocks and Book Debts. |
|
Particulars of
the present modification |
The charge now
increased from Rs.4.500 millions to Rs.8.900 millions (Comprising: existing
AROD Facility of Rs.4.500 millions and fresh MITL Facility of Rs.4.400
millions). |
FIXED ASSETS:
·
Premises
·
Cars
·
Computers
·
Office Equipments
·
Electrical Equipments
·
Electrical Fittings
·
Plant and Machinery
TRADE REFERENCES:
·
Finteq
·
Cordys
·
Dovetail
WEBSITE DETAILS:
OVERVIEW:
NUCSOFT was incorporated in 1994 with the aim of providing focused end-to-end IT solutions to the Banking, Financial Services and Insurance’ industry sectors (BFSI). Over the years they have developed in-depth understanding of the workflow and operations that take place across these sectors.
They have applied this unique understanding, broad experience and strategic business expertise to work with a much closer understanding with their clients. Thus, they build integrally inter-dependent relationships. The company’s customer base, solutions, financial strength and intellectual capital all combine to provide unparalleled solutions and services. They drive the success of businesses by helping to meet the business goals. They offer unmatched enterprise-class scalability and performance, enabling dynamic delivery of customized solutions rapidly and cost-effectively. In successfully deploying their solutions for clients, they deliver a compelling experience.
MANAGEMENT TEAM:
EXECUTIVE LEADERSHIP
Arun Shekhar Aran | Chief
Executive Officer
An alumnus of two of
In 1984, Arun joined
three entrepreneurs to set up a fledgling software firm Nucleus Software
Workshop Private Limited Along with his colleagues, Arun Shekhar later moved to
Chennai to set up a software firm to support Citibank’s IT requirements. In
1994 he came to Mumbai and set up Nucleus Software Offshore Limited, which is
now known as NUCSOFT Limited
Arun Shekhar has a
rich and varied experience of more than 25 years in the realm of Software
Development for Complex Banking Applications. A natural leader, his warmth and
people skill has enabled him to build a stable core team around him to help him
realize his dream of setting up a quality software development firm. Team
NUCSOFT is fired up by his zeal to transform NUCSOFT into a truly global IT
player. His organizational, analytical and management skills has helped NUCSOFT
survive and rebound from the Global Software Meltdown.
Omar Mohammed
Maner | Director
Omar started his career
as a software engineer with Blue Chip Computer Consultants Private Limited
nineteen years ago. Omar has all round experience in application development,
technical support, service management and quality management experience in the
financial and manufacturing industries. An outstanding manager, he joined
NUCSOFT in 1997 as a project manager. A stickler for process in software
development, Omar led team NUCSOFT in the SEI CMM level IV assessment at
Citibank. He is the driving force behind the process development effort at
NUCSOFT.
Currently, Omar is
the Global delivery head at NUCSOFT and has overall responsibility of
delivering projects on time and in accordance with the process guidelines to
all NUCSOFT clients. A keen HR person, Omar concurrently heads the HR, General
Administration and Process Improvement functions for NUCSOFT.
Under his guidance
NUCSOFT is today an ISO 9001:2000 certified Software Company and is now
attempting the SEI CMMI Level V certification.
Omar has a masters
degree in Human Resources Management from the
Bhushan Thaker | Director
Bhushan is a PMI
certified project manager with twenty years experience in software engineering,
architecture, implementation and project management. Backed by the vast
experience gathered in
Bhushan has been
instrumental in increasing the availability and reliability of NUCSOFT’s
services and building customer orientation in the team. His key contribution is
to help the team meet the key objectives of on time delivery, effective
resource utilization and coordination with multiple groups.
Prior to joining
NUCSOFT, Bhushan worked for Trilogy both in
A bachelor of
science, Bhushan is a regular contributor to the PMI India chapter and shares
his expertise with the industry through PMI forums. His contribution in raising
the bar for project management in NUCSOFT has been invaluable.
Shantanu Marathe | Director,
Open Source Initiatives
Shantanu is an
Engineer, MBA. He has around 25 years of experience in IT . He worked as a
C.I.O. in manufacturing companies, service industry. His areas of
specialization include strategic use of IT for business , Supply Chain
Management, Enterprise Applications like ERPs / CRMs.
Shantanu implemented
leading edge technology solutions in many organizations , be it latest
communications / databases/applications. Shantanu looks after their Open Source
Initiative. He has a team of experts to configure/develop solutions to match
the business needs.
Kishore Oka
Kishore Oka
graduated in Electronics and Telecommunications Engineering in 1972. He started
his career at Bokaro Steel Plant as Instrumentation and Computer Engineering.
He later moved to Telecommunications Consultants India Limited,
Kishore Oka retired
in Jan, 2009 and since then is working with Nucsoft.
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.45.31 |
|
|
1 |
Rs.70.26 |
|
Euro |
1 |
Rs.59.56 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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 |
|
- |
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.