MIRA
INFORM REPORT
|
Report Date : |
08.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ADITY BIRLA TELECOM LIMITED |
|
|
|
|
Registered
Office : |
Aditya Birla Centre, ‘A’ Wing, 4th Floor, S. K. Ahire Marg,
Worli, Mumbai 400030, |
|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2010 |
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|
Date of
Incorporation : |
20.12.2005 |
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|
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Com. Reg. No.: |
11-158190 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs.119.250
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64202MH2005PLC158190 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTNA01720F MUMA27001C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA5315A |
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|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Providing Telecom Services. |
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|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 300000000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established and growing company of Birla Group. Their
trade relations are reported as fair. Payments are reported as usually
correct and as per commitment. 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 |
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|
|
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. Mukesh Mundra |
|
Designation : |
Deputy General Manager -Finance |
LOCATIONS
|
Registered Office : |
Aditya Birla Centre, ‘A’ Wing, 4th Floor, S. K. Ahire Marg,
Worli, Mumbai 400030, |
|
Tel. No.: |
91-22-66525000/ 24995000 |
|
Fax No.: |
91-22-26527080/ 66525821/ 24995821 |
|
E-Mail : |
anurag.upadhyaya@idea.adityabirla.com
pankaj.kapdeo@idea.adityabirla.com |
|
Web site : |
|
|
|
|
|
Corporate Office : |
5th Floor, “ Wndsor”, Off C.S.T Road, near Vidya Nagari,
Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
91-22-66820000 |
|
Fax No.: |
91-22-66820499 |
|
|
|
|
Factory : |
2nd Floor, Heera Panna Com 1, Boring Road Crossing, |
DIRECTORS
AS ON 28.09.2010
|
Name : |
Mr. Sanjeev Aga |
|
Designation : |
Director |
|
Address : |
9th Floor, Nav Sonarbala Annexe, |
|
Date of Birth/Age : |
01.02.1952 |
|
Date of Appointment : |
04.01.2006 |
|
|
|
|
Name : |
Mr. Adesh Kumar Gupta |
|
Designation : |
Director |
|
Address : |
701, |
|
Date of Birth/Age : |
11.09.1956 |
|
Date of Appointment : |
20.12.2005 |
|
|
|
|
Name : |
Mr. Manoj Kedia |
|
Designation : |
Director |
|
Address : |
B – 305, Shree Palace, Satya Nagar, Off Sai Baba Nagar, Borivali West,
Mumbai – 400 092, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1965 |
|
Date of Appointment : |
20.12.2005 |
|
|
|
|
Name : |
Mr. Anil Jeet Hamir Jhala |
|
Designation : |
Director |
|
Address : |
Flat No.702, Ivory Towers, Juhu – |
|
Date of Birth/Age : |
08.04.1952 |
|
Date of Appointment : |
10.01.2007 |
|
|
|
|
Name : |
Mr. Biswajit Anna Subramanian |
|
Designation : |
Director |
|
Address : |
2 Shivji Marg, Westend Greens, Rangpuri, |
|
Date of Birth/Age : |
19.09.1965 |
|
Date of Appointment : |
05.12.2008 |
|
|
|
|
Name : |
Ms. Mansi Pradip Gandhi |
|
Designation : |
Managing Director |
|
Address : |
15, New Prakash Kunj, Daulat Nagar Road No 10, Borivali East, Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
24.06.1985 |
|
Date of Appointment : |
29.09.2009 |
KEY EXECUTIVES
|
Name : |
Ms. Mansi Pradip Gandhi |
|
Designation : |
Company Secretary |
|
Address : |
15, New Prakash Kunj, Daulat Nagar Road No 10, Borivali East, Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
24.06.1985 |
|
Date of Appointment : |
29.09.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2010
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Idea Cellular Limited - |
|
9997500 |
|
Sanjeev Aga (Nominee of Idea Cellular Limited) |
|
100 |
|
AJS Jhala (Nominee of Idea Cellular Limited) |
|
100 |
|
Pankaj Kapdeo (Nominee of Idea Cellular Limited) |
|
100 |
|
Pradeep Agrawal (Nominee of Idea Cellular Limited) |
|
100 |
|
Vineet Choraria (Nominee of Idea Cellular Limited) |
|
2000 |
|
GVAS Murthy (Nominee of Idea Cellular Limited) |
|
100 |
|
|
|
|
|
Total |
|
10000000 |
|
Names of Shareholders (Compulsorily
Convertible Preference Shares) |
|
No. of Shares |
|
P5 Asia Holding Investments ( |
|
1925000 |
|
|
|
|
|
Total |
|
1925000 |
AS ON 30.09.2010
|
Category |
|
Percentage |
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Telecom Services. |
|
|
|
|
Products : |
Cellular |
GENERAL INFORMATION
|
Bankers : |
·
IDBI Bank Limited, |
|
|
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloittee Haskins and Sells Chartered Accountants |
|
Address : |
706, B Wing, 7th Floor, ICC Trade Tower, International
Convention Centre, Senapati Bapat Road, Pune – 411016, Maharashtra, India |
|
Pan No.: |
AACPJ9815E |
|
|
|
|
Holding Company
: |
·
Idea Cellular Limited (ICL) CIN No.: L32100GJ1996PLC030976 |
|
|
|
|
Promoters of Holding Company : |
·
Hindalco Industries Limited ·
Grasim Industries Limited ·
Aditya Birla Nuvo Limited ·
Birla TMT Holdings Private Limited |
|
|
|
|
Fellow Subsidiaries : |
·
Swinder Singh Satara and Company Limited ·
Idea Cellular Infrastructure Services Limited ·
Idea Cellular Towers Infrastructure Limited (upto
23.04.2008) CIN No.:
U74120DL2007PLC171006 ·
Idea Cellular Services Limited ·
Carlos Tower Limited |
|
|
|
|
Subsidiary : |
·
Idea Cellular Towers Infrastructure Limited CIN No.: U74120DL2007PLC171006 |
|
|
|
|
Joint Ventures : |
·
Indus Towers Limited ·
Spice Communications Limited (SCL) (Up to 28th
February, 2010) |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 millions |
|
2500000 |
Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs.25.000 millions |
|
|
Total |
|
Rs.775.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000
millions |
|
1925000 |
Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs.19.250
millions |
|
|
Total |
|
Rs.119.250 millions |
NOTE:
The entire paid up equity capital is held by the
holding company, idea cellular limited and its nominee.
The entire paid up compulsorily
convertible preference shares capital is held by P5 Asia Holding Investments (
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 |
119.250 |
119.250 |
100.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
73188.806 |
20900.284 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.025) |
(324.304) |
(38.657) |
|
|
NETWORTH |
73308.031 |
20695.230 |
61.343 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
1831.403 |
4.417 |
|
|
2] Unsecured Loans |
0.000 |
1201.649 |
260.453 |
|
|
TOTAL BORROWING |
0.000 |
3033.052 |
264.870 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
73308.031 |
23728.282 |
326.213 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
3867.688 |
108.465 |
|
|
Capital work-in-progress |
0.000 |
694.427 |
594.725 |
|
|
|
|
|
|
|
|
INVESTMENT |
73308.056 |
9573.228 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
148.083 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
21.635
|
0.000
|
|
|
Sundry Debtors |
0.000
|
36.475
|
0.000
|
|
|
Cash & Bank Balances |
0.000
|
5507.493
|
0.421
|
|
|
Other Current Assets |
0.000
|
22.483
|
0.000
|
|
|
Loans & Advances |
0.000
|
5795.672
|
71.666
|
|
Total
Current Assets |
0.000
|
11383.758 |
72.087 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.025
|
1634.801
|
431.702
|
|
|
Other Current Liabilities |
0.000
|
304.101
|
17.360
|
|
|
Provisions |
0.000
|
0.000
|
0.000
|
|
Total
Current Liabilities |
0.025
|
1938.902
|
449.064
|
|
|
Net Current Assets |
(0.025)
|
9444.856
|
(376.977)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
73308.031 |
23728.282 |
326.213 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
431.800 |
0.000 |
|
|
|
Other Income |
0.000 |
3.531 |
0.217 |
|
|
|
TOTAL (A) |
0.000 |
435.331 |
0.217 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Expenditure |
0.000 |
145.646 |
3.672 |
|
|
|
Network Operating Expenditure |
0.000 |
531.270 |
0.580 |
|
|
|
Advertisement & Business Promotion Expenditure |
0.000 |
183.248 |
0.575 |
|
|
|
Administration & Other Expenses |
0.025 |
49.370 |
7.985 |
|
|
|
Other expenses |
0.000 |
252.134 |
0.000 |
|
|
|
TOTAL (B) |
0.025 |
1161.668 |
12.812 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(0.025) |
(726.337) |
(12.595) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
(410.734) |
0.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(0.025) |
(315.603) |
(12.660) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
115.915 |
0.272 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(0.025) |
(431.518) |
(12.932) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(145.872) |
0.086 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(0.025) |
(285.646) |
(13.018) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(324.303) |
(38.657) |
(25.639) |
|
|
|
|
|
|
|
|
|
Less |
AMOUNT WITHDRAWN
FROM RESERVE FOR BUSINESS RESTRUCTURING |
(324.303) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(0.025) |
(324.303) |
(38.657) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export International Roaming Services |
0.000 |
0.143 |
NA |
|
|
TOTAL EARNINGS |
0.000 |
0.143 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
3041.876 |
141.048 |
|
|
TOTAL IMPORTS |
0.000 |
3041.876 |
141.048 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.003) |
(28.56) |
(1.30) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.00
|
(66.07)
|
(5999.08)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
(99.93)
|
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
(2.83)
|
(7.16)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
(0.02)
|
(0.21)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00
|
0.24
|
11.64
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.00
|
5.87
|
0.16
|
LOCAL AGENCY FURTHER INFORMATION
Overview:
The telecom operations of
De-merger of
Unified Access Services License of
The members are informed that during the year the Company had filed a Scheme
of Arrangement with the Hon’ble High Court of Bombay contemplating De-merger of
Unified Access Services License (UASL) of Bihar (including Jharkhand) service
area, including certain assets and liabilities from the Company to Idea
Cellular Limited (the Holding Company). The members are further informed
pursuant to the sanction of the scheme by the Hon’ble High Court of Bombay and
the High Court of Gujarat at Ahmedabad and filing of the High Court Orders with
the office of respective Registrar of Companies, the scheme has become
effective from 1’ March, 2010, with an Appointed Date of 1’ April, 2009.
Consequently, the telecom operations along with certain assets and liabilities
of the Company have been de-merged and transferred to Idea Cellular Limited and
given effect to in the accounts, as explained in the relevant note to the
accounts.
Subsidiaries and
Joint Ventures
Subsidiary
Idea Cellular Towers Infrastructure Limited (ICTIL) is a tower holding
company and is engaged in the business of providing passive infrastructure
services including acquisition and establishment of telecommunication sites,
infrastructure and equipments and related operations and maintenance services.
Joint Venture
Indus Towers Limited (lndus) is a joint venture with Bharti group and
Vodafone Essar group alongwith Idea Cellular Limited, the holding company to
provide passive infrastructure services in 16 service areas to all telecom
operators.
FORM 8:
|
Corporate
identity number of the company |
U64202MH2005PLC158190 |
|
Name of the
company |
ADITYA BIRLA
TELECOM LIMITED |
|
Address of the
registered office or of the principal place of business in |
Aditya Birla Centre, ‘A’ Wing, 4th Floor, S. K. Ahire Marg,
Worli, Mumbai 400 030, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Uncalled share
capital Immovable
property Book Debts Movable Property Projects
contracts bank accounts and insurance policy |
|
Particular of
charge holder |
IDBI Bank Limited, Email : |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 24.12.2009 executed by the Company in Mumbai creating first
pari passu charge over the Hypothecated Property of the Company in favor IDBI
Bank Limited acting as Security Trustee for itself and on behalf of
International Finance Corporation (IFC) to secure loan granted by IFC to the
Company amounting to Rs.776.774 millions (USD 16,000,000 equivalent to then
Rs.776.774 millions at the exchange rate of US$ 1=Rs.48.5484) |
|
Date of
instrument Creating the charge |
24.12.2009 |
|
Amount secured by
the charge |
Rs.776.774
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
- 3 month USD Libor + 200
Basis Points (presently 2.28%) Terms of
Repayment - 32 quarterly installments commencing from 15.07.2012 Extent and
Operation of the charge - A first priority charge ranking pari passu created
by way of Hypothecation Deed on Hypothecated properties operates as Security,
inter alia, for securing the loan provided by International Finance
Corporation (IFC) i.e. due repayment by the Company of loan amount of Rs.
776.774 millions (USD 16,000,000 at
the exchange rate of US$ 1=Rs. 48.5484) Security created
is a continuing security. |
|
Particulars of
the property charged |
The whole of
movable properties not limited to the MSC properties, office equipment and
furniture, vehicles, telephone and other communication equipment, network
equipment etc. The whole of
movable properties not limited to the MSC properties, office equipment and
furniture, vehicles, telephone and other communication equipment, network
equipment etc. |
|
Particulars of
the present modification |
The Loan Amount
provided by International Finance Corporation secured by mortgage inter alia,
on immovable properties by way of Deposit of Title Deeds on 21.12.2009 is now
further secured by Hypothecation Deed dated 24.12.2009. |
FIXED ASSETS:
·
Plant and Machinery
·
Furniture and fixture
·
Office Equipment
·
Vehicles
WEBSITE DETAILS:
PRESS RELEASES
Providence Invests USD 640 million in Aditya Birla
Telecom
Idea Subsidiary
Strongly Positioned for Growth
Mumbai, May 22,
2008: Aditya Birla Telecom Limited (“ABTL”), a wholly-owned subsidiary of Idea
Cellular Limited (“Idea”), today announced that Providence Equity Partners
(“Providence”) has agreed to invest USD 640 million in ABTL, a wireless
communications company in India.
Said Kumar
Mangalam Birla, Chairman of Idea and the Aditya Birla Group, “This transaction
demonstrates the sustained effort of the Aditya Birla Group towards strengthening
businesses and creating value for shareholders.”
Sanjeev Aga,
Managing Director of Idea, commented, “This commitment will bolster our
position as a leading telecom player in
Added Biswajit
Subramanian, Managing Director of Providence Equity Advisors India, “We are
pleased with our successful partnership with Idea and look forward to extending
that relationship to this important investment in the future of India’s mobile
communications sector. The Idea management team is proven and respected, and we
look forward to supporting their success at ABTL.”
This is one of the
largest private equity investments in
ABTL owns the
telecom UAS license for the Bihar service area and will hold a 16% stake in
The Bihar service
area, covering the states of Bihar and Jharkand, has the second highest
population among all service areas of
The transaction is
subject to regulatory approvals and is expected to close by August 2008.
DSP Merrill Lynch
acted as the sole financial adviser to Idea on the transaction.
ABOUT IDEA
A leading GSM
mobile services operator, Idea Cellular has licenses to operate in all 22
service areas of
Idea Cellular is a
part of the US $ 28 billion Aditya Birla Group,
ABOUT
Providence Equity
Partners, established in 1989 and having invested in more than 100 companies
over its 19-year history, is one of the world’s premiere private equity firms
and the leading equity investment specialist in the media, entertainment,
communications and information industries. It has approximately US$21bn of
equity capital under management. It has offices in Providence (R.I.),
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 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.44.74 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.65.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
41 |
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.