MIRA
INFORM REPORT
|
Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
TATA REALTY AND INFRASTRUCTURE LIMITED
|
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
02.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-168300 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9250.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102MH2007PLC168300 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT13767F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT6242L |
|
|
|
|
Legal Form : |
Closely held public limited liability company. |
|
|
|
|
Line of Business
: |
Subject is engaged in business of Investment Advisory
Services, Project Management Consultancy Services and Real Estate
Development. |
|
|
|
|
No. of Employees
: |
120 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 39600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Tata Sons Limited. It is a well established
and a reputed 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.
INFORMATION PARTED BY
|
Name : |
Mr. Neeraj |
|
Designation : |
Finance Head |
|
Date : |
30.05.2011 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-66294000 / 4032 |
|
Fax No.: |
91-22-66100520 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 24.06.2010
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
213-B
Ncpa Apartments, Nariman Point, Mumbai-400 021, |
|
Date of Birth/Age : |
06.11.1948 |
|
Date of Appointment : |
02.03.2007 |
|
|
|
|
Name : |
Mr. Phillie Dara
Karkaria |
|
Designation : |
Whole
Time Director |
|
Address : |
Sleater House No. 2, Flat No. 1, Naushir Bharucha Road,
Mumbai-400 007, Maharashtra, India |
|
Date of Birth/Age : |
06.11.1948 |
|
Date of Appointment : |
04.05.2007 |
|
|
|
|
Name : |
Mr. Mahalingam Seturaman |
|
Designation : |
Director |
|
Address : |
3, Normandle Co-Opekative Housing Society,
Limited, 25, |
|
Date of Birth/Age : |
14.01.2008 |
|
Date of Appointment : |
10.02.1948 |
|
|
|
|
Name : |
Mr. Brotin Subroto Banergee |
|
Designation : |
Director |
|
Address : |
601, Sanghi Residency, 77, Palki Galli, Opposite Twin Towers,
Prabhadevi, Mumbai-400 025, Maharashtra, India |
|
Date of Birth/Age : |
13.04.1973 |
|
Date of Appointment : |
27.08.2008 |
|
|
|
|
Name : |
Mr. Sanjay Ganesh Ubale |
|
Designation : |
Director |
|
Address : |
32, Quest End, 47 Cuffe Parade, Mumbai-400 005, |
|
Date of Birth/Age : |
22.05.1953 |
|
Date of Appointment : |
19.06.2008 |
|
|
|
|
Name : |
Mr. Mehernosh Sorab Kapadia |
|
Designation : |
Director |
|
Address : |
29, Wodhehouse Apartment, |
|
Date of Birth/Age : |
22.05.1953 |
|
Date of Appointment : |
19.06.2008 |
|
|
|
|
Name : |
Mr. Ganesa Iyer Anantharaman |
|
Designation : |
Director |
|
Address : |
The peregrine, Flat No.10-A, 10th Floor, 400 Veer Savarkar
Marg, Prabhadevi, Mumbai-400 025, |
|
Date of Birth/Age : |
21.06.1944 |
|
Date of Appointment : |
10.12.2008 |
|
|
|
|
Name : |
Mr. Sumit Ratnakar Guha |
|
Designation : |
Director |
|
Address : |
Flat No.51, Sainara Apartment, 5th Floor, Cuffe Parade,
Mumbai-400 005, |
|
Date of Birth/Age : |
29.09.1966 |
|
Date of Appointment : |
01.04.2010 |
|
|
|
|
Name : |
Mr. Jimmy Sorabh Bilimoria |
|
Designation : |
Director |
|
Address : |
5, Battery House, 74, Bhulabhai Desia road, Mumbai, |
|
Date of Birth/Age : |
09.11.1959 |
|
Date of Appointment : |
10.12.2008 |
KEY EXECUTIVES
|
Name : |
Mr.
Sanjay G. Ubale, |
|
Designation : |
Managing
Director and Chief Executive Officer |
|
|
|
|
Name : |
Mr.
Sumit Guha |
|
Designation : |
Deputy
Managing Director |
|
|
|
|
Name : |
Mr.
Phillie D. Karkaria |
|
Designation : |
Executive
Director |
|
|
|
|
Name : |
Mr. Kishore Saletore |
|
Designation : |
CFO |
|
|
|
|
Name : |
Mr. Sunil B.Shinde |
|
Designation : |
Vice President – Projects |
|
|
|
|
Name : |
Mr. Ratnakar Pramod Mahajan |
|
Designation : |
Vice-President - Business Development |
|
|
|
|
Name : |
Mr. Rusty J. Treasuryvala |
|
Designation : |
Vice President – Airports |
|
|
|
|
Name : |
Mr. G. Anantharaman |
|
Designation : |
|
|
|
|
|
Name : |
Mr. Arun Kumar
Sharma |
|
Designation : |
|
|
|
|
|
Name : |
Mr. Shirish
Ranade, |
|
Designation : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
Tata Sons Limited, |
|
724999994 |
|
Tata Sons Limited, |
|
01 |
|
Tata Sons Limited, |
|
01 |
|
Tata Sons Limited, |
|
01 |
|
Tata Sons Limited, |
|
01 |
|
Tata Sons Limited, |
|
01 |
|
Tata Sons Limited, |
|
01 |
|
Total |
|
725,000,000 |
|
Names of Shareholders |
|
No. of Shares |
|
Tata Sons Limited, |
|
200000000 |
|
Total |
|
200,000,000 |
As on 24.06.2010
|
Category |
|
Percentage of Holding |
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of Investment Advisory
Services, Project Management Consultancy Services and Real Estate
Development. |
|
|
|
|
Terms : |
|
|
Selling : |
Depend |
|
|
|
|
Purchasing : |
Depend |
GENERAL INFORMATION
|
No. of Employees
: |
120 [Approximately] |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Axis Bank Limited, Nariman Point Branch, 309, Atlanta,
Nariman Point,, Mumbai – 400 021, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Term Loan : 1500.000 millions
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
KPMG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower
Parel, Mumbai-400 013, Maharashtra, India |
|
|
|
|
Name : |
PKF Sridhar and Santhanam Chartered Accountants |
|
Address : |
406, |
|
|
|
|
Holding Company: |
Tata Sons Limited |
|
|
|
|
Subsidiaries
Companies: |
|
|
|
|
|
Associates
: |
|
|
|
|
|
Fellow Subsidiaries: |
|
CAPITAL STRUCTURE
As on 24.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000000 |
Equity Shares |
Rs.10/- Each |
Rs.20000.000 millions |
|
1000000000 |
Preference Shares |
Rs.10/- Each |
Rs.10000.000 millions |
|
|
Total |
|
Rs.30000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
725000000 |
Equity Shares |
Rs.10/- Each |
Rs.7250.000
millions |
|
200000000 |
Preference Shares |
Rs.10/- Each |
Rs.2000.000
millions |
|
|
Total |
|
Rs.9250.000 millions |
Notes:
All the above equity shares are held by Tata
Sons Limited, the holding company, and its nominee
All the above 5% Non cumulative convertible preference
shares are held by Tata Sons Limited, the holding company
The 5% non cumulative preference shares are
convertible into equity shares of Rs.10/- each at a premium of Rs.10/- each in
the ration of 2: 1, not later than 5 Years from the date of the allotment at
the option of the holder.
Pursuant to Bombay high court order dated 6th
February 2009, the company has reduced its paid up preference share capital by
Rs.8000 millions during the previous year.
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 |
9250.000 |
9250.000 |
17250.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
653.326 |
633.291 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(141.847) |
|
|
NETWORTH |
9903.326 |
9883.291 |
17108.153 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2250.000 |
2250.000 |
0.000 |
|
|
TOTAL BORROWING |
2250.000 |
2250.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12153.326 |
12133.291 |
17108.153 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
15.610 |
29.776 |
36.137 |
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
1.465 |
|
|
Capital work-in-progress |
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT |
9630.079 |
11258.223 |
95.429 |
|
|
DEFERREX TAX ASSETS |
18.722 |
13.042 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
35.345 |
0.000 |
2.429 |
|
|
Cash & Bank Balances |
227.041
|
661.160 |
10.959 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
3279.581
|
3895.376 |
17142.351 |
|
Total
Current Assets |
3541.967
|
4556.536 |
17155.739 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.665
|
14.937 |
1.566 |
|
|
Other Current Liabilities |
789.403
|
3055.722 |
166.108 |
|
|
Provisions |
257.984
|
653.627 |
12.943 |
|
Total
Current Liabilities |
1053.052
|
3724.286 |
180.617 |
|
|
Net Current Assets |
2488.915
|
832.250 |
16975.122 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12153.326 |
12133.291 |
17108.153 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
405.653 |
243.991 |
61.409 |
|
|
|
Other Income |
431.968 |
2123.167 |
9.498 |
|
|
|
TOTAL (A) |
837.621 |
2367.158 |
70.907 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
300.815 |
143.647 |
95.962 |
|
|
|
Administrative and Other
Expenses |
|
164.176 |
104.232 |
|
|
|
TOTAL
(B) |
300.815 |
307.823 |
200.194 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
536.806 |
2059.335 |
(129.287) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
182.388 |
192.232 |
0.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
354.418 |
1867.103 |
(129.766) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.913 |
16.078 |
11.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
338.505 |
1851.025 |
(140.768) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
117.321 |
534.785 |
1.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
221.184 |
1316.240 |
(141.847) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
633.291 |
(141.847) |
- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Preference share |
100.000 |
100.000 |
- |
|
|
|
Tax on Dividend |
28.651 |
78.602 |
- |
|
|
|
Proposed Dividend on Equity Shares |
72.500 |
362.500 |
- |
|
|
BALANCE CARRIED
TO THE B/S |
653.326 |
633.291 |
(141.847) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
250.654 |
243.991 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.14 |
1.65 |
(6.74) |
|
|
Particulars |
|
|
31.03.2011 |
|
|
|
|
|
|
Sales Turnover [Approximately] |
|
|
900.000 |
|
|
|
|
|
The above information has been parted by Mr Neeraj [Finance Head]
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
26.41
|
55.60 |
(200.05) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
83.45
|
758.64 |
(229.23) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.52
|
40.36 |
(0.82) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.78 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.33
|
0.61 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.36
|
1.22 |
94.98 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Due to micro,
small and Medium enterprises |
0.000 |
0.000 |
0.000 |
|
Others |
5.665
|
14.937 |
1.566 |
|
Total |
5.665
|
14.937 |
1.566 |
Background:
Tata Realty
and Infrastructure Limited (The Company') was incorporated on 2 March 2007 to
carry on the business of investment advisory services, project management
consultancy services and real estate development. The Company is a wholly owned
subsidiary of Tata Sons Limited.
Operations of the
Company:
The Indian economy which witnessed a slowdown over last one and half
years showed signs of revival by the end of the current financial year. The
Management Team has been continuously monitoring
the development in Real Estate and
Infrastructure sectors and has suitably adapted its strategies to improve its sustainability in difficult market conditions.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U70102MH2007PLC168300 |
|
Name of the
company |
Tata Realty and
Infrastructure Limited. |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10157090 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Axis Bank Limited, Nariman Point Branch, 309, Atlanta,
Nariman Point,, Mumbai – 400 021, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Link Document for
earmarking of Limit dated 30.06.2010 |
|
Date of instrument
Creating the charge |
30.06.2010 |
|
Amount secured by
the charge |
Rs.1000.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction
Letter or as stipulated by the Bank from time to time. Terms of
Repayment As per Sanction
Letter or as stipulated by the Bank from time to time. Margin As per Sanction
Letter or as stipulated by the Bank from time to time. Extent and
Operation of the charge Out of the total
BG limit of Rs.1000 millions. at the request of the Company, the Bank
permitted Bank Guarantee facility upto Rs.73.450 millions to M/s. Gurgaon
Infratech Private Limited. by earmarking unutilised portion of BG limits of
Rs.1000 millions. The overall amount secured by the Charge remains at Rs.1000
millions. Security of assets given shall continue to secure BG permitted to
M/s. Gurgaon Infratech Private Limited. |
|
Short particulars
of the property charged |
1st charge on all
receivables of Company including those SPV's floated for execution of
projects |
|
Date of latest
modification prior to the present modification |
30.06.2010 |
|
Particulars of
the present modification |
Now vide this modification,
Out of the total BG limit of Rs.1000 millions. at the request of the Company,
the Bank permitted Bank Guarantee facility upto Rs.73.450 millions to M/s.
Gurgaon Infratech Private Limited. by earmarking unutilised portion of BG
limits of Rs.1000 millions. The overall amount secured by the Charge remains
at Rs.1000 millions. Security of assets given shall continue to secure BG
permitted to M/s. Gurgaon Infratech Private Limited. |
Website Details:
Profile:
In keeping with the Tata philosophy of leadership in sectors of national economic significance, Tata’s identified the most promising opportunities for growth in the Indian real estate and infrastructure arena, and setup Tata Realty and Infrastructure Limited (TRIL) as a 100 per cent subsidiary of Tata Sons, to serve as a real estate and infrastructure development arm. Tata’s is one of India's largest conglomerates, with a total market capitalisation of nearly $55.1 billion, and 107 operating companies in seven business sectors, employing over 250,000 people worldwide.
Real estate projects have been identified as the initial focus area for the company, which include projects of other Tata companies, and market opportunities currently under review which include infrastructure projects focusing on airports, urban infrastructure, roads and bridges, etc. An offshore fund of $1 billion is in the process of being setup to finance these initiatives.
Press Release
Tata
Realty and Infrastructure Limited (TRIL) acquires Peepul Tree Properties
Private Limited
~TRIL
forays into Commercial/IT space in Mumbai with a strategic investment of Rs.
5,250 million~
Mumbai, March 7, 2011: Tata Realty and Infrastructure Limited (TRIL) and
Tata Realty Initiatives Fund 1 (TRIF 1) today announced the acquisition of ‘Peepul
Tree Properties Private Limited’ (Peepul Tree Properties) from Kotak India Real
Estate Fund I for an enterprise value of Rs 5,250 million (US$ 117 million).
The average rental yield in this property is approximately 14% taking into
account the price and the current rentals prevailing in the market.
Peepul Tree Properties owns an IT/ITes Park in the Mumbai suburb of
Malad East, which has been fully leased to excellent grade-A tenants such as
Accenture, Tata AIG, Mphasis, BNP Paribas, Integreon and Prana Studios.
Speaking on the development, Mr. Sanjay Ubale, Managing Director, TRIL
said, “This acquisition is a step forward in implementing the company’s
strategy to have a national presence in the commercial/ IT space. With this
strategic investment, we have established our presence in Mumbai with an
existing, operational asset. We are confident that the development is in sync
with our overall growth strategy and we expect a significant growth in this
business. TRIL stands well poised to meet its ambition of becoming a
significant player in the real estate sector in the times to come.”
PRESS RELEASE
About Tata Realty
and Infrastructure Limited
Tata Realty and Infrastructure Limited (TRIL) is currently focused on long
term infrastructure projects of national significance, as well as large scale
integrated developments and retail & commercial projects in the real estate
sector. As is with all Tata companies, selection of projects is a specialized
process, with the eventual selection list scoring high not only on business
objectives, but also on the guiding Tata values and policies.
Fixed Assets;
·
Leasehold Improvement
·
Furniture and fixture
·
Computer
·
Office Equipment
·
Motor Vehicle
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.45.03 |
|
|
1 |
Rs.74.43 |
|
Euro |
1 |
Rs.64.75 |
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 |
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.