MIRA
INFORM REPORT
|
Report Date : |
07.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAP LABS INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
KIEFER AND VEITINGER INFORMATION SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
138, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.08.1995 |
|
|
|
|
Com. Reg. No.: |
08-18484 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200KA1995PTC018484 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRK01084G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS3649P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Company engaged in the business of providing software development and
other related services |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular 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) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Prashant Mallya |
|
Designation : |
Financial Controller |
|
Contact No.: |
91-80-43294329 |
|
Date : |
06.01.2011 |
LOCATIONS
|
Registered Office : |
138, |
|
Tel. No.: |
91-80-43294329/ 41395939 |
|
Fax No.: |
91-80-67796779/ 41396969 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
RMZ NXT, 2B/2C, |
|
Tel. No.: |
91-80-43299000 |
|
Fax No.: |
91-80-67799000 |
|
|
|
|
Corporation Office : |
|
|
Tel. No.: |
91-124-4357777 |
DIRECTORS
(AS ON 17.09.2010)
|
Name : |
Mr. Velloparampil Rasheed Ferose |
|
Designation : |
Managing director |
|
Address : |
D – 43, |
|
Date of Birth/Age : |
16.04.1974 |
|
Date of Appointment : |
15.10.2007 |
|
|
|
|
Name : |
Mr. Clas Neumann |
|
Designation : |
Director |
|
Address : |
G -102, Victorian View, off Borewell Road, Whitefield, Bangalore –
560066, Karnataka, India |
|
Date of Birth/Age : |
30.06.1967 |
|
Date of Appointment : |
01.12.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant Mallya |
|
Designation : |
Financial Controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 17.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sap AG, |
|
11177607 |
|
Sap Deutschland AG and Company, |
|
687 |
|
|
|
|
|
Total |
|
11178294 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company engaged in the business of providing software development and
other related services |
GENERAL INFORMATION
|
No. of Employees : |
Not divulged by the management. |
|
|
|
|
Bankers : |
Not available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountant |
|
Address : |
11-12/1, Maruthi Infotech Centre, Koramangala Inner Ring Road,
Bangalore – 560071, Karnataka, India |
|
Tel. No.: |
91-80-39806000 |
|
Fax No.: |
91-80-39806999 |
|
|
|
|
Holding Company : |
Sap AG, |
|
|
|
|
Associates/Subsidiaries : |
·
Business Objects · Business Objects Corp · Business Objects India Private Limited · Business Objects SA ·
Business Objects Software Limited, · Business Objects UK Limited · N.Y. SAP Belgium S.A. ·
PT SAP ·
SAP ( · SAP (SCHWEIZ) AG ·
SAP ( ·
SAP AGENCIA EN · SAP America, Inc. · SAP Andina y d. Caribe VE ·
SAP · SAP Argentina S.A. · SAP Asia Pta. Limited · SAP Australia Pty Limited · SAP BELGIUM S.A. · SAP Brasil Ltda. ·
· SAP CANADA INC. · SAP CIS LLC · SAP Dan mark A/S · SAP Deutschland AG and Company · SAP Deutsehland AG and Company KG · SAP Espafia, S.A. ·
SAP · SAP France S.A. · SAP Global Marketing Inc. · SAP Governance Risk and Compliance, Inc · SAP Government Support and Service · SAP Hosting AG and Company KG · SAP India Private Limited · SAP Israel Limited · SAP Italia Sistemi, Applicazioni Prodotti in data processing S,p.A · SAP Japan Company Limited · SAP Korea Limited ·
SAP Labs · SAP Labs, LLC ·
SAP · SAP Mexico S.A. DE CV. ·
SAP Middle East and ·
SAP · SAP New Zealand Limited · SAP Norge A!S · SAP Osterreich GmbH · SAP Philippines, INC · SAP Portals Israel Limited · SAP PORTUGAL-SISTEMAS, APLIC. F PRO · SAP Public Services Inc. · SAP Retail, inc. ·
SAP ·
SAP Service and ·
SAP · SAP Svenska Aktiebolag · SAP Systems Integration AG ·
SAP Systems, Applications and Products in Data
processing ( |
CAPITAL STRUCTURE
(AS ON 17.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Share |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11178294 |
Equity Share |
Rs.10/- each |
Rs.111.783
Millions |
|
|
|
|
|
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Share |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11178294 |
Equity Share |
Rs.10/- each |
Rs.111.783
Millions |
|
|
|
|
|
NOTE:
Of the above equity shares, 1 1,177,607 equity shares are
held by SAP AG,
Of the above equity shares, 848,817 equity shares were
issued for consideration other than cash.
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 |
111.783 |
111.783 |
103.295 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1375.545 |
1466.186 |
1130.335 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1487.328 |
1577.969 |
1233.630 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
690.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
690.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
28.200 |
|
|
|
|
|
|
|
|
TOTAL |
1487.328 |
1577.969 |
1951.830 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1111.133 |
1288.699 |
1373.969 |
|
|
Capital work-in-progress |
4.442 |
3.880 |
7.358 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
26.801 |
1.253 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
590.093
|
494.813 |
513.648 |
|
|
Cash & Bank Balances |
447.104
|
381.630 |
664.015 |
|
|
Other Current Assets |
149.925
|
120.654 |
58.430 |
|
|
Loans & Advances |
928.515
|
685.990 |
531.842 |
|
Total
Current Assets |
2115.637
|
1683.087 |
1767.935 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
192.918
|
382.315 |
195.295 |
|
|
Other Current Liabilities |
770.235
|
577.931 |
903.902 |
|
|
Provisions |
807.532
|
438.704 |
98.235 |
|
Total
Current Liabilities |
1770.685
|
1398.950 |
1197.432 |
|
|
Net Current Assets |
344.952
|
284.137 |
570.503 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1487.328 |
1577.969 |
1951.830 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
7613.880 |
7502.856 |
7101.020 |
|
|
|
Other Income |
|
79.058 |
43.543 |
|
|
|
TOTAL (A) |
7613.880 |
7581.914 |
7144.563 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Cost |
|
4059.051 |
3541.397 |
|
|
|
Operating Expenses |
|
2728.251 |
2807.386 |
|
|
|
TOTAL (B) |
|
6787.302 |
6348.783 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
794.612 |
795.780 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
18.518 |
64.902 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
776.094 |
730.878 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
343.128 |
302.572 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
389.600 |
432.966 |
428.306 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
480.240 |
392.642 |
100.397 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(90.640) |
40.324 |
327.909 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
-- |
1130.335 |
797.292 |
|
|
|
|
|
|
|
|
|
|
Transitional
adjustment pursuant to adoption of AS 15 (revised) |
-- |
0.000 |
5.134 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
-- |
1170.659 |
1130.335 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income from Research and Development Services |
NA |
7398.442 |
7049.241 |
|
|
TOTAL EARNINGS |
NA |
7398.442 |
7049.241 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
109.620 |
253.447 |
|
|
TOTAL IMPORTS |
NA |
109.620 |
253.447 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(8.11) |
3.61 |
31.75 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(1.19)
|
0.53 |
4.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
5.77 |
6.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.07
|
14.57 |
13.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.27 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.19
|
0.89 |
1.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.20 |
1.48 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS: (RS. IN MILLIONS)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Sundry Creditors
|
|
|
|
|
A] Dues to micro and small enterprises |
0.811 |
2.542 |
-- |
|
B] Dues to other than micro and small enterprises |
|
|
|
|
- Capital Goods |
4.481 |
9.113 |
13.995 |
|
- Others |
187.626 |
370.660 |
181.300 |
|
|
|
|
|
|
Total |
192.918 |
382.315 |
195.295 |
FUTURE PROSPECTS
The Company has shown steady state of affairs during the year ended March 31, 2010 post the global recession.
The Company has initiated various measures of cost containment to have better and more efficient utilization of the Company’s resources and the Board is very confident of providing greater value in the forthcoming years.
FIXED ASSETS:
·
· Building
· Computer Equipment
· Office Equipments
· Furniture and Fixtures
· Leasehold Improvement
· Vehicles
WEBSITE DETAILS:
PROFILE:
The High Energy Lab, Driving Innovation in Business
Solutions
Company is SAP's second largest Research and Development and
Global Services and Support center in the world. Founded in November 1998,
Company is one of the four global development hubs (Germany, US and Israel
being others) of SAP that contribute to all areas of the SAP product value
chain- Research and Breakthrough Innovation, Product Development, Global
Services and Support and Customer Solutions and Operations.
SAP's eight Labs in different countries are industry role
models for globally distributed development organizations and contribute
heavily to the goals of SAP's business units. Bridging the gap between local
market demands and SAP's development organization, SAP Labs set standards for
excellence in innovation, efficiency, and reliability.
Company researches, designs, and delivers leading-edge
software applications that enhance and extend SAP® solutions, and is recognized
within the SAP global organization as one of the prime contributors of innovation,
quality and service. Company’s headcount, about 25℅ is committed to
research and next generation product development. It is SAP's largest location
for SRM development, instrumental in delivering SRM 6.0 as well as development
of SRM 7.0. The Central Test Lab for Global Application Platform development,
company also contributes to 2/5th of global ERP development as well as the
development of latest CRM solutions. It has complete ownership of delivering
solutions for industries such as Hi-Tech, Apparel and Footwear Solutions (AFS)
and SAP CRM for Pharmaceuticals, along with a significant contribution to SAP's
Oil and Gas Downstream solution. Company is also the prime contributor to the
global development for latest applications such as xApps and Duet.
As a Global Services and Support organization, Labs India
boasts of the largest production team outside
Employees of company spread across
PRESS
RELEASE
Dr.
B.S. Yeddyurappa, Chief Minister of Karnataka hands over keys of 90 houses to
the Raichur flood victims courtesy SAP
SAP completed and handed over the houses at Jageera
Venkatapura to the Government of Karnataka in the month of July 2010
Bangalore
/ Raichur - July 27, 2010 - As part of SAP’s sustainability initiatives,
the villagers of Jageera Venkatapura (a small village 18 kms from Raichur in
The Jageera Venkatapura village is the first to benefit from
the Aasare Scheme which is a corporate sponsored relief program for the 2009
flood victims.
A humble function was held at the village where Dr B.S.
Yeddyurappa along with VR Ferose, MD of SAP Labs India and District Collector
Anbu Kumar handed over the keys of the newly built houses to the beneficiaries.
Also present were senior government officials including Sri Katta Subramanya
Naidu, Minister for Housing, Information, IT & BT and BWSSB, Sri B
Sreeramulu, Minister for Health and Family Welfare and Sri C.M Udasi, Minister
for PWD.
The houses are one bed room concrete structures with a built
up area of 260 – 270 sq ft and solid RCC roof along with a kitchen and
bathroom. They have been built on 30 x 50 ft plot area to also accommodate the
cattle and other live stock. The entire project took over 6 months to complete
and these structures have been built with material of uncompromised quality to
ensure durability.
The beneficiaries of these homes were pre-selected by the
government after a thorough survey of the affected area.
“At SAP, we believe that collaborative efforts can make a
bigger impact to the society. The fact that our employees, driven by a great
sense of social responsibility and dedication, led the project right from
making visits to the flood affected areas soon after the calamity; to
collecting funds and seeing the project through its completion in record time
is a matter of pride for SAP and me. We could only match this enthusiasm by
being a good enabler at best.” said V R
Ferose, Managing Director, SAP Labs India. “The Government of Karnataka
has been very supportive and instrumental in providing land for construction
and has provided power to these homes while HOPE Foundation has taken care of
the on ground implementation of this project.”
“I appreciate and thank SAP for the commitment in
constructing homes under the Aasare scheme, for the benefit of the flood
affected families. The quality of the construction has been very good,” said Anbu Kumar, District Collector.
Chinnareddy, a local leader said, “I
am very grateful for SAP’s response to my village. Many of the families are too
poor to rebuild their homes. These houses have everything – two rooms, a
kitchen and a toilet. It brings me joy to know that these houses will help them
start a new life.”
Additional quotes from villagers:
Adiveppa: Farmer, age 33
“I don’t think I can go through another flood again. The new
house is on higher ground and looks good. I like the electrical connections
that come with it. My thanks go out to SAP for reaching out to my family.”
Ajibahu: Farmer, age 45
“The new houses look strong. After losing my crops I felt
this house will help me get back on my feet. I am grateful and want to thank
SAP for their generosity.”
About SAP
SAP is the world’s leading provider of business software
(*), offering applications and services that enable companies of all sizes and
in more than 25 industries to become best-run businesses. With more than 92,000
customers in over 120 countries, the company is listed on several exchanges,
including the
(*) SAP defines business software as comprising enterprise
resource planning, business intelligence, and related applications.
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.45.20 |
|
|
1 |
Rs.70.27 |
|
Euro |
1 |
Rs.59.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.