MIRA
INFORM REPORT
|
Report Date : |
08.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN RAILWAYS |
|
|
|
|
Registered
Office : |
Ministry of Railways, Rail Mantralaya, |
|
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Country : |
|
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
1853 |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Premier transport organization of the country. |
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|
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|
No. of Employees
: |
1361519 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Indian Railway, the premier transport organization of the country is
the largest rail network in Indian Railways are functioning under the Ministry of Railways,
Government of India having its head quarter in It is a well established organization in the country having fine
track. Payments are reported to usually correct and as per commitments. Subject is a government of |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Ministry of Railways, Rail Mantralaya, |
|
Tel. No.: |
91-11-23315826/ 23381213/ 23386645/ 23303768 |
|
Fax No.: |
91-11-23310724/ 23382637 |
|
Website : |
Apex Management
|
Minister of
Railways |
Mamata Banerjee |
|
Minister of state
for Railways |
K. H. Muniyappa Bharatsinh Solanki |
|
Members. Railway
Board |
|
|
Chairman |
Vivek Sahai |
|
Financial Commissioner |
|
|
Member Electrical |
Sudesh Kumar |
|
Member Engineering |
A. P. Mishra |
|
Member Mechanical |
Sanjiv Handa |
|
Member Staff |
V.N. Tripath |
|
Member Traffic |
-- |
|
Secretary |
V. K. Gupta |
|
Director - General |
|
|
Railway Health Services |
V. K. Ramteke |
|
Railway Protection Force |
Ranjit Sinha |
|
General Managers,
Zonal Railways |
|
|
Central |
Kul Bhushan |
|
Eastern |
V. Bharthuar |
|
East Central |
K.K. Srivastava |
|
East Coast |
A. K. Vohra |
|
**Metro |
P. B. Murthy |
|
Northern |
S.K. Budhalakoti |
|
North Central |
H.C. Joshi |
|
North Eastern |
K.B.L. Mittal |
|
Northeast Frontier |
Keshav Chandra |
|
North Western |
R.C. Agarwal |
|
Southern |
Deepak Krishan |
|
South Central |
M. S. Jayanth |
|
South Eastern |
Vinay Mittal |
|
South East Central |
A.K. Vohra* |
|
South Western |
Kuldeep Chaturvedi |
|
Western |
Kul Bhushan* |
|
West Central |
H.C. Joshi |
|
General Managers,
Production Units |
|
|
Chittaranjan Locomotive Works |
Amarnath |
|
Diesel Locomotive Works |
K. K. Saxena |
|
Integral Coach Factory |
Smt. Pompa Babbar |
|
Rail Wheel Factory |
R. K. Upadhyay |
|
Rail Coach Factory |
K. K. Saxena* |
|
General Managers,
Production Units |
|
|
Northeast Frontier Railway (Construction) |
Smt. Vijaya Kanth |
|
Central Organisation for Railwau Electrification |
C. P. Verma |
|
Director - General |
|
|
|
Niraj Kumar |
|
Director – General
and Ex – Officio General Manager |
|
|
Research, Designs and Standards Organisation |
V. Ramachandran |
|
Chief
Administrative Officer (Railways) |
|
|
Central Organisation for Modernisation of workshops |
Vindhyachal Singh |
|
Diesel Loco Modernisation Works |
A. K. Malhotra |
* Looking
after. ** Metro Railway, Kolkata. (As on 1st February, 2011)
|
RLY UNIT |
GM/ CAO/ DIR. |
SERVICE |
|
CENTRAL |
KUL BHUSHAN |
IRSEE |
|
EASTERN |
V BHARTHUAR |
IRSME |
|
NORTHERN |
S K BUDHALAKOTI |
IRTS |
|
NORTH EASTERN |
K B L MITTAL |
IRSME |
|
N F |
KESHAV CHANDRA |
IRSME |
|
N F (CONS.) |
Smt. VIJAYA KANTH |
IRAS |
|
SOUTHERN |
DEEPAK KRISHAN |
IRSE |
|
SOUTH CENTRAL |
M |
IRTS |
|
SOUTH EASTERN |
VINAY MITTAL |
IRTS |
|
WESTERN |
KULBHUSHAN L/A |
IRSEE |
|
CLW |
AMARNATH |
IRSEE |
|
DLW |
K K SAXENA |
IRTS |
|
ICF |
SMT. POMPA BABBAR |
IRAS |
|
RCF |
K K SAXENA L/A |
IRTS |
|
RAIL WHEEL FACTORY |
R K UPADHYAY |
IRSME |
|
CORE / ALD |
C P VERMA |
IRSSE |
|
METRO / KOLKATA |
P B MURTHY |
IRTS |
|
RDSO / LKO |
V RAMACHANDRAN |
IRSS |
|
RSC / VADODARA |
NEERAJ KUMAR |
IRSME |
|
EAST CENTRAL |
K K SRIVASTAVA |
IRTS |
|
|
A K VOHRA |
IRSEE |
|
NORTH CENTRAL |
H C JOSHI |
IRSME |
|
NORTH WESTERN |
R C AGGARWAL |
IRSSE |
|
SOUTH EAST CENTRAL |
A K VOHRA L/A |
IRSEE |
|
SOUTH WESTERN |
KULDEEP CHATURVEDI |
IRTS |
|
WEST CENTRAL |
G |
IRSME |
|
COFMOW (CAO/R) |
VINDHYACHAL SINGH |
IRSME |
|
D M W (CAO/R) |
A K MALHOTRA |
IRSME |
|
IRIEEN / |
A K RAWAL |
IRSEE |
|
IRIMEE / JAMALPUR |
PANKAJ KUMAR |
IRSME |
|
IRICEN / PUNE |
A K GOEL |
IRSE |
|
IRISET / SEC. |
R L GUPTA |
IRSSE |
|
IRITM / LKO |
Ms.ASHIMA SINGH, SAG |
IRTS |
|
CAMTECH / |
S C SINGHAL, ED / SAG |
IRSME |
BUSINESS DETAILS
|
Line of Business : |
Premier transport organization of the country. |
GENERAL INFORMATION
|
No. of Employees : |
1361519 (Approximately) |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
-- |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
|
|
LIABILITIES |
|
|
|
A. |
Loan
Capital |
|
|
|
|
(advanced by
General Exchequer) (Supporting statement V (a)) |
# 937797.100 |
* 774834.500 |
|
B. |
Investment
Financial from |
|
|
|
|
Railway Capital Fund |
353460.500 |
320633.000 |
|
|
Depreciation Reserve Fund |
354596.900 |
324001.700 |
|
|
Development Fund |
176688.700 |
145719.600 |
|
|
Railway safety Fund |
32434.800 |
24382.400 |
|
|
Special Railway Safety Fund |
157560.600 |
157560.600 |
|
|
Revenue |
11305.000 |
10900.000 |
|
|
Miscellaneous other sources |
9310.100 |
9232.300 |
|
|
|
1095356.6 |
992429.600 |
|
C. |
Reserves |
|
|
|
|
Depreciation Reserve Fund |
49.900 |
33359.800 |
|
|
Development Fund |
54.300 |
22987.800 |
|
|
Pension Fund |
12.400 |
15248.000 |
|
|
Railway Capital Fund |
24382.000 |
61790.600 |
|
|
Railway safety Fund |
25822.00 |
23160.900 |
|
|
Special Railway Safety Fund |
0.000 |
0.000 |
|
|
|
50320.600 |
156547.100 |
|
D. |
Deposits |
|
|
|
|
State Railway Fund |
195531.500 |
161691.000 |
|
|
Miscellaneous Deposits |
# # 74941.300 |
* * 72874.900 |
|
|
F. Loan and Advances |
3323.700 |
3767.000 |
|
|
|
273796.500 |
238332.900 |
|
E. |
Current
Liabilities |
|
|
|
|
Undischarged (Demands Payable) |
18323.400 |
16988.900 |
|
|
Outstanding dues payable to other Government Departments |
13551.300 |
13778.700 |
|
|
|
31874.700 |
30767.600 |
|
|
Grand Total |
2389145.500 |
2192911.700 |
|
|
|
|
|
|
F. |
Assets |
|
|
|
|
Block Assets |
|
|
|
|
I)Fixed Assets |
|
|
|
|
Land |
42506.500 |
41458.900 |
|
|
Building and tracks |
1156675.100 |
1021090.700 |
|
|
Rolling Stocks |
400554.400 |
337465.500 |
|
|
Plant and Equipment |
291020.500 |
249746.900 |
|
|
Miscellaneous Assets |
0.000 |
0.000 |
|
|
|
1890756.500 |
1649762.000 |
|
|
II) Investments |
|
|
|
|
Inventory |
29196.300 |
27140.300 |
|
|
Work in Progress (Workshops manufacture) |
10504.800 |
8295.100 |
|
|
Miscellaneous Advances (Capital) |
40314.100 |
38137.000 |
|
|
|
80015.200 |
73572.400 |
|
|
III) Investment
in other undertakings |
|
|
|
|
Shares in road transport undertakings |
0.000 |
0.000 |
|
|
Other Government undertakings |
62382.000 |
43929.700 |
|
|
|
62382.000 |
43929.700 |
|
|
Total Block
Assets |
2033153.700 |
1767264.100 |
|
G. |
Funds lying with
Central Government |
|
|
|
|
(Contra – items C and D) |
324117.100 |
394880.000 |
|
H. |
Current Assets |
|
|
|
|
Sundry Debtors |
9298.300 |
8741.000 |
|
|
Outstanding dues from other Government Departments |
778.400 |
788.400 |
|
|
Outstanding traffic earnings |
11511.100 |
10329.800 |
|
|
Cash in Hand |
8117.900 |
8964.900 |
|
|
Demands recoverable |
2169.000 |
1943.500 |
|
|
Grand Total |
2389145.500 |
2192911.700 |
Note:
- * Excludes Rs.
53275.100 Millions of MTPs, Rs. 4794.300 Millions of circuler Railway and Rs.
119540.000 Millions Appropriation to SRSF and includes Rs. 52455.100
Millions of Udhampur –
- * * Net liability
to end of March 2009 includes Rs. 91.900 Millions and Rs. 1950.500
Millions recoverable from Pakistan and Bangladesh Railways respectively.
- # Excludes Rs. 59415.900 Millions of MTPs, Rs. 4801.500 Millions of
Circuler Railways and Rs. 119540.000 Millions Appropriation to SRSF and
includes Rs. 61250.600 Millions of Udhampur –
- # # Net Liability to end of March 2010 includes Rs. 87.800 Millions and
Rs. 1910.900 Millions recoverable from Pakistan and Bangladesh Railways
respectively.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
|
|
Gross Traffic
Receipts |
|
|
|
|
Coaching
Earnings |
|
|
|
|
Passenger
Traffic |
|
|
|
|
Full Fares |
|
|
|
|
Less than full fares |
234881.700 |
219313.200 |
|
|
Parcels
and Other coaching traffic |
|
|
|
|
Parcels |
12049.200 |
10185.300 |
|
|
Luggage |
831.800 |
775.500 |
|
|
Others |
9470.200 |
8755.900 |
|
|
Goods Earnings |
|
|
|
|
Coal, Coke etc. |
245888.200 |
218229.600 |
|
|
General Merchandise |
333546.300 |
314175.700 |
|
|
Other Traffic |
6613.000 |
4396.900 |
|
|
Wharfage and Demurrage |
9896.600 |
9478.000 |
|
Less |
Refunds |
10927.300 |
11946.000 |
|
|
|
585016.800 |
534334.200 |
|
|
Miscellaneous
(Sundry) |
28796.800 |
25006.600 |
|
|
Other
earnings |
0.000 |
0.000 |
|
|
Total Gross
Earnings |
871046.500 |
798370.700 |
|
|
Suspense (Bills Receivable) |
(1406.800) |
247.800 |
|
|
Gross Traffic
Receipts (Actually realized) |
869639.700 |
798618.500 |
|
|
|
|
|
|
|
Ordinary Working
Expenses |
|
|
|
|
General Superintendence and Services |
45223.300 |
35429.800 |
|
|
Repair and Maintenance of Permanent Way and Works |
74191.500 |
58908.200 |
|
|
Repair and Maintenance of Motive Power |
34130.200 |
28605.200 |
|
|
Repair and Maintenance of Carriages and Wagons |
76982.800 |
62362.400 |
|
|
Repair and Maintenance of Plant and Equipment |
42790.300 |
33184.000 |
|
|
Operating Expenses – Rolling Stocks and Equipment |
58167.800 |
45658.400 |
|
|
Operating Expenses – Traffic |
116034.000 |
93971.300 |
|
|
Operating Expenses – Fuel |
145552.700 |
138876.000 |
|
|
Staff Welfare and Amenities |
33535.200 |
25819.800 |
|
|
Miscellaneous Working Expenses |
29394.100 |
22737.500 |
|
|
Provident Fund, Pension and other Retirement Benefits |
2878.800 |
1767.800 |
|
|
Gross
Expenditure |
658880.700 |
547320.400 |
|
|
Suspense (Bills Payable) |
(777.200) |
(3827.400) |
|
|
Ordinary Working Expenses (Actually Disbursed) |
658103.500 |
543493.000 |
|
|
Contribution to
Reserve Funds |
|
|
|
|
Depreciation Reserve Fund |
21870.000 |
70000.000 |
|
|
Pension Fund |
149180.000 |
104900.000 |
|
|
|
171050.000 |
174900.000 |
|
|
|
|
|
|
|
Dividend and
Other Payments to General Revenues |
55176.100 |
46919.400 |
|
|
Dividend Paid (Current) |
231.200 |
231.200 |
|
|
Other Payments to General Revenues in lieu of tax on Passengers fares |
26.100 |
26.100 |
|
|
On account of assistance to Railway Safety Fund |
0.000 |
0.000 |
|
|
Total Dividend
Paid |
55433.400 |
47176.700 |
|
|
Deferred Dividend Paid |
0.000 |
0.000 |
|
|
Net Dividend
Paid |
|
|
LOCAL AGENCY FURTHER INFORMATION
STATUS
OF CASES
|
Search Result
For Party: Indian railway year : 2011” are : 5 |
|||
|
S. No. |
Diary No./ Case
No. (STATUS) |
Petitioner Vs.
Respondent Advocate |
Listing Date Court No. |
|
1 |
O.M.P. 289/ 2011 (PENDING) Order (s)
Judgement(s) |
RAKESH KUMAR GUPTA VS. INDIAN RAILWAY CATERING AND TOURISM CORPORATION LIMITED Advocate: Naresh K Thanai |
Court No. : 23 Last Date : 19.04.2011 Next Date: 27.07.2011 |
|
2 |
O.M.P. 289/ 2011 (PENDING) Order (s)
Judgement(s) |
AK Vs. INDIAN RAILWAY CATERING AND TOURISM CORPORATION LIMITED Advocate: Pradeep Ranjan Tiwary |
Disposed On: 21.01.2011 |
|
3 |
O.M.P. 289/ 2011 (PENDING) Order (s)
Judgement(s) |
RAM CHANDRA SRIVASTAVA Vs. MANAGEING DIRECTOR INDIAN RAILWAYS WELFARE ORGANIZATION Advocate: Pet – In - Person |
Court No. : 13 Last Date : 16.05.2011 Next Date: 06.07.2011 |
|
4 |
O.M.P. 289/ 2011 (PENDING) Order (s)
Judgement(s) |
UMESH KUMAR MANDAL Vs. GENERAL MANAGER, INDIAN RAILWAYS DIESEL RAIL ENGINE Advocate: RN SINGH |
Last Date: |
|
5 |
O.M.P. 289/ 2011 (PENDING) Order (s)
Judgement(s) |
UOI AND ANR Vs. INDIAN RAILWAYS CIVIL ENGINEERING OFFICER ASSOCIATES Advocate: RV SINHA |
Last Date: |
Financial
Performance:
The year ended
with an excess of Rs. 7.500 Millions, which was appropriated to Development
Fund.
Freight
Operations:
The originating
revenue loading was 887.79 million tones excluding loading of Konkan Railway in
2009-10 compared to 833.39 million tonnes in the previous year. The transport
output in terms of revenue net tonne kms. (NTKrns.) was 600.55 billion in
2009-10 compared to 551.45 billion in 2008-09. Earnings from freight traffic
(excluding miscellaneous goods earnings) was Rs. 569115.100 Millions - up by
Rs. 51621.700 Millions (9.98%) from the previous year.
Passenger
Business:
During 2009-10,
the number of passengers carried was 7,246 million compared to 6,920 million in
2008-09 thus registering an increase of 4.71%. Passenger kms. Which is the
product of the number of passengers carried and average distance traversed was
903 billion, up by 7.76% from 838 billion in the previous year. Passenger
earnings increased by Rs. 15479.600 Millions (7.1%) compared to 2008-09.
Engineering Works:
During the year,
258 kms. of new lines were constructed and 1,516 kms. of track was converted to
broad gauge. 3,840 kms. of track renewal was carried out in 2009-10,
approximately the same as in the previous year.
Electrification:
1117 kms. of IR's
route was electrified during 2009-10.
Safety, Signal and
Telecom
There were 165
consequential train accidents during 2009-10 compared to 177 during 2008-09.
Train accidents per million train kms. on IR came down from 0.19 in 2008-09 to
0.17 in 2009-10. As a
step towards improving passenger amenities, Public Address System at 3,748
stations, Train Display Boards at 1,090 stations and Coach Guidance Boards at
428 stations have been installed.
Materials
Management:
Materials
Management on IR is being progressively revamped with a view to reduce costs,
storage, handling, insurance and dividend charges. Turn over Ratio in terms of
value of inventories to value of materials consumed was 15% (without fuel) and
12% (with fuel) during 2009-10. The disposal of condemned Rolling Stock and
scrap arisings was monitored closely.
Managing the Environment:
Efforts continued
to bring down the adverse effects of railway activities on the environment
through adaptation of cleaner technologies, energy conservation measures,
afforestation on vacant railway land, etc. Concerted efforts to eliminate the
use of wooden sleepers, adoption of energyefficient technologies, etc. were
some of the major initiatives in managing the environment.
Performance:
Passenger Business:
During
April-December of 2010-11, the number of originating passengers on IR was 5,902
million vis-a-vis 5,568 million during the corresponding period of 2009-10,
registering an increase of 6.0%. The Passenger earnings during this period was
Rs. 189099.100 Millions - up by Rs. 18083.300 Millions (10.57%) compared to the
earnings during the corresponding period of last year.
Freight Operations:
Total freight
earnings (including 'Other goods earnings' such as wharfage, demurrage, etc.)
in the first 9 months (April- December) of 2010-11 stood at Rs. 449147.500 Millions
which shows an increase of Rs. 28853.800 Millions (6.87%) over the earnings in
the corresponding period of the previous year.
Finance
Results for
2009-10
Gross traffic
receipts of the Railways went up from Rs. 798618.500 Millions in 2008-09 to Rs.
869639.700 Millions in 2009-10. Total working expenses increased from Rs.
718393.000 Millions in 2008-09 to Rs. 829153.500 Millions in 2009-10. After
taking into account the miscellaneous transactions, the net revenue receipts
were at Rs. 55440.900 Millions.
After meeting the
dividend liability, the year ended with an excess of Rs. 7.500 Millions, which
was appropriated to Development Fund.
REVENUE:
The gross traffic receipts went up by 771021.200 Millions
(8.89%) over the previous year. The break-up in terms of major sources is given
in Statement IA of Financial
Statements. Passenger earnings formed 26.92% of the gross earnings, of which
7.13% was from suburban services, 5.71%
from express long distance and 17.16% from ordinary short distance traffic.
Bulk freight like coal, ores, iron and steel, cement, foodgrains, fertilisers,
POL products, limestone, dolomite, stones other than marble, salt and sugar
contributed 88.8% of the total goods
WORKING
EXPENSES
The total working expenses during 2009-10 were 7829153.500
Millions - an increase of 7110760.500 Millions over 2008-09. The increase was
due to:
(i) increase in staff cost;
(ii) higher cost of fuel and other inputs; and
(iii) incremental expenditure for moving traffic.
Total wage bill of staff (open line) in 2009-10 (excluding
pensionary benefits) totalled 4369600.200 Millions or 56.16% of ordinary
working expenses (excluding appropriation to DRF and Pension Fund), while fuel
accounted for 22.12%, and other materials and services 21.72%. Number of open
line staff decreased by 1.83%.
DEFERRED
DIVIDEND LIABILITY
In keeping with the recommendations of the Railway
Convention Committee (1977), it was decided that the shortfall in the payment of
current dividend in those years in which net revenue was not adequate to meet
the liability for current dividend, would be treated as Deferred Dividend
Liability bearing no interest.
The Deferred Dividend Liability from 1978-79 onwards
aggregated to 73419.900 Millions by the end of March 1992, which was, however,
liquidated in 1992-93.
The Deferred Dividend Liability for the years 2000-01 and
2001-02 to the tune of 72,8233 Millions has become nil after payment of
Deferred Dividend Liability of 76640 Millions during 2007-08.
ON NEW
LINES
The Railway Convention Committee allows a moratorium on
payment of dividend on investments in new lines during the period of
construction and for the first 5 years after it is opened to traffic;
cumulative dividend is payable when the line shows surplus after meeting
current dividend liability. The account of accumulated dividend liability, if
any, is closed after 20 years, extinguishing such unliquidated liability. The
amount of this liability stood at 775117.900 Millions as on March 31, 2010.
CAPITAL
– AT – CHARGE
The Capital-at-charge, mainly comprising Tracks and Bridges
(7394514.700 Millions), Rolling Stock (7156351.300 Millions), Buildings and
Structures including Land (7148177.600 Millions) and Machinery and Plant
(7124118.800 Millions), invested in the Railways by the Central Government
stood at 7876546.400 Millions at the end of 2009-10 - an accretion of
7154166.900 Millions over the previous year. This is exclusive of the capital
invested in Metropolitan Transport Projects (MTPs) (759415.900 Millions) and
Circular Railways (74801.500 Millions) and amount transferred to SRSF (7119540
Millions) and capital invested on Udhampur- Srinagar-Baramula line (761250.600
Millions). This is inclusive of 788246.100 Millions of PUS.
RAILWAY
CAPITAL FUND
In pursuance of the recommendations of Railway Convention
Committee (1991), as contained in their Second Report, Railway Capital Fund has
come into operation from 1992-93. Appropriation to the Fund is from Revenue
Surplus and is intended to finance expenditure on assets of capital nature.
Investment made from the Fund up to 2009-10 was 7353460.500 Millions.
RESERVE
FUND BALANCES
As per recommendations of Railway
Convention Committee (1991), contained in their Second Report, the two existing
funds, viz. Accident Compensation, Safety and Passenger Amenities Fund and
Revenue Reserve Fund, have been restructured to accommodate expenditure on
Safety and
Passenger Amenity Works. Balance of the abolished Funds has,
therefore, been merged with Development Fund.
The total balance in the Reserve tunas as on Marcn 31, 2010
was 750320.600 Millions, representing a decrease of 7106228.300 Millions over
the previous year.
CASH
FLOW
Finance generated through IR's internal resources provided
71 77948.700 Millions during 2009-10.
During 2009-10, the total Plan investment was 7374354.900
Millions (excluding MTPs and Circular Railways and amount transferred to SRSF).
This was financed from Budgetary Support to the extent of 7154164.900 Millions
exclusive of capital invested on MTPs and
Circular Railways amounting to 76148.100 Millions and 78795.500 Millions
invested on Dividend free project of Udhampur-Srinagar-Baramula. The
corresponding position during 2008-09 was that out of a total Plan investment
of 7277634.500 Millions (excluding MTPs and Circular Railways and amount
transferred to SRSF), the financing from Budgetary Support was 782571.400
Millions exclusive of capital invested on MTPs and Circular Railways amounting
to 76768.500 Millions and 76113.600 Millions invested on Dividend free project
of Udhampur- Srinagar-Baramula. The balance of the Plan investment was met from
internal and extra-budgetary resources. During 2009-10, a decrease of the fund
balance was also resorted to the tune of 7106228.300 Millions to finance the
Plan expenditure.
FINANCIAL
ARRANGEMENT BETWEEN THE RAILWAYS AND THE GOVERNMENT
On the recommendations of the Acworth Committee, the Railway
Finances were separated from the General Finances in 1924-25. Since then, the
financial arrangements between the Railways and the Central Government are
periodically reviewed by a Parliamentary Committee known as the Railway
Convention Committee.
With the formation of the Fifteenth Lok Sabha, a new Railway
Convention Committee (2009) was constituted in March 2010. The Committee has so
far submitted their first report on 'Rate of Dividend for 2009-10 and 2010-11
and other ancillary matters'.
'Indian Railway Finance Corporation Ltd. (IRFC)', Public
Sector Undertaking under the administrative control of the Ministry of Railways
has been raising additional resources through borrowings from domestic and
international markets to finance Plan investment. Market funds raised by the
Corporation are mainly used to finance procurement of rolling stock assets
which are leased by IRFC to IR. Till end of 2009-10, IRFC has lease financed
2,572 electric and 2,488 diesel locomotives, 1,39,659 wagons, 32,115 coaches,
81 track machines and 4 cranes, with a gross asset value of 7601250 Millions.
Induction of these rolling stock into the system has enabled IR to modernize
its fleet, increase carrying capacity and improve productivity. The lease
charges of 753672.400 Millions were paid to IRFC during 2009-10 to enable the
corporation to service the debt.
IRFC has also been providing market funds to finance
bankable railway projects under implementation by Rail Vikas Nigam Limited
(RVNL). The amount of funds made available to RVNL till end of 2009-10 is
718710 Millions.
FREIGHT
OPERATION
In 2009-10, IR loaded 892.22 million tonnes of freight
traffic of which 887.79 million tonnes was revenue-earning an( 4.43 million
tonnes non-revenue-earning, and achieved total ne tonne kilometres (NTKMs) of
601 billion as against 552 billior in 2008-09. The freight earnings went up
from 3517493 Millions in 2008-09 to 5569115.100 Millions in 2009-10,
registering ; growth of 9.98%.
FREIGHT
MARKETING
PRIVATE
FREIGHT TERMINALS (PFT)
To facilitate rapid development of a network of freight
terminals with private investment to provide efficient and cost effective
logistics services with warehousing solution to end users, a new scheme namely
Private Freight Terminal has been launched on 31.05.2010. PFT can either be
'green field' facilities developed by private parties on private land or 'brown
field' facilities, i.e. exisiting private sidings/container terminals on
private land which can be permitted to be converted to private freight
terminals under the provisions of the Scheme. The scheme will facilitate
traffic handling at the terminals by private investors thereby increasing IR's
market
share.
SPECIAL
FREIGHT TRAIN OPERATOR SCHEME (SFTO)
In order to increase Rail share in the commodities like
fertilizers, molasses, edible oil, caustic soda, chemicals, petrochemicals,
alumina, bulk cement and fly ash, etc., where rail coefficient is traditionally
very low, a new scheme namely Special Freight Train Operator Scheme (SFTO) has
been launched to attract private investment in special purpose wagons required
for transportation of these commodities. The policy has been issued on
31.05.2010.
AUTOMOBILE
FREIGHT TRAIN OPERATER SCHEME (AFTO)
With a view to increase IR's market share in transportation of
automobile i.e. twolthree wheelers, cars and tractors, etc. by inviting private
participation for procurement and operation of special purpose wagons, a new
scheme namely Automobile Freight Train Operater Scheme (AFTO) has been
launched. The policy has been issued on 19.07.2010.
DEVELOPMENT
OF AUTOMOBILE AND ANCILLARY HUB
With the introduction of AFTO scheme, more number of rakes
comprising high capacity auto carriers having higher throughput will be
inducted by private operators. This will increase IR's modal share in
automobiles traffic warranting development of more automobile and ancillary
hubs. With a view to facilitate bulk movement of automobile traffic by rail
from the production hubs to consumption centers, a policy has been issued on
16.06.2010 for development of automobile and ancillary hub at strategic
locations for storage and secondary distribution by road.
CLAIMS
IR paid 7139.900 Millions as claim compensation in the year
2009-10 as compared to 964 Millions paid in previous year 2008-09. The number
of claims received by Railways was 0.28 lakh in 2007-08, 0.26 lakh in 2008-09
and 0.21 lakh in 2009-10.
BUSINESS
OPERATIONS
Some of the important assignments undertaken in the recent
past are:
OVERSEAS
UAE: Feasibility study for a new railway line and a new
freight railway line of 215 kms. to be further extended to
The most challenging work of a new broad gauge, 240 kms.
long
Detailed project report and design consultancy services for
Quazigund-Baramulla railway project and design engineering services for rail
bridges for Quazigund- Baramulla line in
Mega projects of rail-cum-road bridges across major rivers
at
Detailed engineering and construction management project in
railway infrastructure for Damodar Valley Corporation.
Rail infrastructure works at SAIL plants of Bokaro, Bhilai,
Rourkela,
Feasibility study for the 2,761 kms. long Dedicated Freight
Corridors (DFC) for the Eastern and Western corridors.
Workshop modernization including expansion and enhancement
of stainless steel LHB coach production capacity from 1400 to 1500 per annum
for Rail Coach Factory, Kapurthala.
Project management for laying of water transmission lines
for Kolkata Municipal Corporation.
General consultancy for Bangalore Metro network (33 kms.) on
the system design to commissioning, etc.
Functioning as a major member of the international consortium
as "General Consultants for the Mass Rapid Transit System (MRTS),
Advisory consultancy services for Yamuna Expressway from
Greater NOIDA to
Total Transport system study on modal cost and traffic
flows-Planning Commission.
Railway land sites, not required for operational purposes or
future expansion, are identified by Zonal Railways and entrusted to RLDA for
commercial development. The Authority initially engages a consultant to
ascertain the suitability and potential for commercial development of the site
and thereafter based on the feasibility report, identify a suitable development
model for its commercial development through an open and transparent bidding
process to generate maximum revenue for the Railways.
During 2009-10, 9 more sites were entrusted to RLDA for
commercial development. During the year, Consultant's final reports were
approved for 17 sites and two sites were handed over to developers for
development of commercial complexes.
RLDA has been assigned the responsibility of developing
Multi Functional Complexes (MFCs) to provide multiple facilities like shopping,
food stalls/restaurants, book stalls, PC0 booths, ATMs, Medicines and variety
stores, parking spaces and other similar amenities to rail users at Railway
stations. 67 MFCs sites were sanctioned by the Ministry of Railways in 2009-10.
RAIL
VIKAS NIGAM LIMITED (RVNL)
Rail Vikas Nigam Limited (RVNL), a Special Purpose Vehicle (SPV)
under the Ministry of Railways was incorporated in the year 2003 to raise
non-budgetary resources for rail capacity projects and to implement them on a
fast track basis.
Up to 31.3.2010, RVNL completed 22 projects covering 185
kms. of new lines, 1,517 kms. of gauge conversion and 422 kms. of doubling and
1,152 kms. of railway electrification making a total of 3,276 kms.
In addition to above, Bhatapara-Hathband (16 kms.) section,
Idapally-Vallaparpadm new line and 4.6 kms. Longest railway bridge in
RVNL is executing 8 projects funded by Asian Development
Bank. In addition, 5 more projects to be funded by ADB are yet to be executed
by RVNL covering social and environmental management plans and rehabilitation
of the project affected persons.
During the year, expenditure on project works was 7 17490 Millions.
Important
Events:
- 5th August:
Ladies Special train between
- 29th August: Mangalore-Yesvantpur (Tri-weekly) Express flagged off.
- 18th September: Sealdah-Delhi Duronto Express flagged off.
- 21st September: Chennai Central-Hazrat Nizamuddin (weekly) non-stop Duronto
Express flagged off.
- 28th October: Last leg of Anant Nag - Baramulla line inaugurated.
- 29th October: An Intercity
Express train between New Coochbehar and Kamakhya flagged off
Foundation stone of Sivoke -
Rangpo new railway line project laid.
- 21st November: Three superfast trains, viz., Mumbai-Nagpur (Tri-weekly) Duronto
Express, Mumbai- Karwar (Tri-weekly) Superfast Express and Pune-Sholapur
Superfast Intercity Express introduced and
running of Hyderabad- Usmanabad Express extended upto Pune.
- 24th December: Mumbai-Ahmedabad Duronto Superfast Express inaugurated.
- 30th December: Six new trains viz., Howrah-New Delhi
Yuva Express, Howrah-Yesvantpur (Weekly) Duronto Express, Howrah-Purulia
(Biweekly) Express, Howrah-Haridwar Express (5 days a week),
Kolkata-Bikaner (Weekly) Express and Sealdah-Arnritsar (Weekly) Express
flagged off.
- 12th January: Newly built waiting hall at Hazrat Nizamuddin station inaugurated.
Mobile Computerized Reservation Service by the name 'Mushkil Aasaan'
introduced.
- 15th January: Yuva Superfast (Weekly)
Express between Bandra (T) and Hazrat Nizamuddin flagged off.
- 28th January: First 3300 HP Microprocessor Control Rebuilt locomotive flagged
off.
- 24th February: Visakhapatnam-Lokrnanya Tilak (Biweekly) Superfast Express flagged
off.
- 13th March: Howrah-Gandhidham (Weekly)
and Kolkata-Amritsar Superfast (Bi-weekly) Express trains inaugurated.
- 20th March:
Tourist train namely 'Maharajas Express' inaugurated at Kolkata station.
- 29th March: First prototype of AC
Double Decker coach rolled out.
- 30th March: Varanasi-Khajuraho Link
Express inaugurated.
Evolution:
The first railway on Indian sub-continent ran over a stretch
of 21 miles from
The formal inauguration ceremony was performed on 16th April 1853, when 14
railway carriages carrying about 400 guests left Bori Bunder at 3.30 pm
"amidst the loud applause of a vast multitude and to the salute of 21
guns." The first passenger train steamed out of
In south the first line was opened on 1st July, 1856 by the Madras
Railway Company. It ran between Vyasarpadi Jeeva Nilayam (Veyasarpandy) and
These were the small beginnings which is due course developed into a network of
railway lines all over the country. By 1880 the Indian Railway system had a
route mileage of about 9000 miles. Subject, the premier transport organization
of the country is the largest rail network in
Subject is a multi – gauge, multi-traction system covering the
following:
|
Track Kilometers |
Broad Gauge (1676 mm) |
Meter Gauge (1000 mm) |
Narrow Gauge (762/610 mm) |
Total |
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86526 |
18529 |
3651 |
108706 |
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Route Kilometers |
Electrified |
Total |
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16001 |
63028 |
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Other Interesting facts of Subject.
Subject runs around 11,000 trains everyday, of which 7,000 are passenger trains
|
7566 locomotives |
37840- Coaching vehicles |
222147- Freight wagons |
6853 - Stations |
|
300 - Yards |
2300 – Good Sheds |
700 – Repair shops |
1.54 Million – Work Force |
Territorial
Readjustment of Zones and In-House Reforms
In order to bring about greater efficiency in administration, speedy implementation of on-going projects, better customer care, reduction of workload on General Managers etc., Indian Railways have decided to create seven new zones by territorial re-adjustment of existing zones. The new zones, having limited financial burden on Railways, will have thin and lean, efficient and modern administrative set up. Two of the new zones have already started functioning.
National Rail Vikas
Yojana
With a view to complete strategically important projects within a stipulated period of time, a non-budgetary investment initiative for the development of Railways has been launched. Under the scheme all the capacity bottlenecks in the critical sections of the railway network will be removed at an investment of Rs.150,000.000 Millions over the next five years. These projects would include:
- Strengthening of the golden Quadrilateral to run more long-distance mail/express and freight trains at a higher speed of 100 kmph.
- Strengthening of rail connectivity to ports and development of multi-modal corridors to hinterland.
- Construction of four mega bridges - two over River Ganga, one over River Brahmaputra, and one over River Kosi.
- Accelerated completion of those projects nearing completion and other important projects.
New Steps towards
Safety and Security :
Safety of 13 million passengers that Indian Railways serve every day is of paramount importance to the system. Over the years, apart from the regular safety norms followed, the network has taken a number of steps through innovative use of technology and stepped up training to its manpower to enhance safety standards. Constitution of Rs.170000.000 Millions non-lapsable Special Railway Safety Fund (SRSF) to replace the arrears of aging assets of Railways over the next six years has been a historical move in this direction. A number of distressed bridges, old tracks, signalling system and other safety enhancement devices will be replaced during this period. As far as budget allocation for safety is concerned, Rs.14000.000 Millions was allocated in the revised estimate for the year 2001-02 and Rs.22100.000 Millions for the year 2002-2003. Extensive field trials of the Anti-Collision Device (ACD), indigenously developed by Konkan Railway, is going on and once deployed across the Zonal Railways, this innovative technology will help railways reduce accidents due to collision between trains.
Security of railway passengers is at present a shared responsibility of the
Railway Protection Force (RPF) and the Government Reserve Police (GRP). Efforts
are on to amend the Railway Act to give more powers to the RPF in ensuring
security of passengers on trains and within Railway premises. Deployment of
women police Force has been made for security and assistance of women
passengers.
Improving Financial
Health:
The financial position of Indian Railways has been slowly but steadily improving. Some of the highlights of the financial performance during 2001-02 include: improved operating ratio from 98.8 per cent to 96.6 per cent, savings in ordinary working expenses of Rs.14870.000 Millions, Depreciation Reserve Fund (DRF) balance goes up from Rs. 780.400 Millions during March last year to Rs.6329.900 Millions during same time this year. Railways have established a new milestone in incremental freight loading during July this year by carrying 5.70 million tonnes of goods. Freight loading for the last financial year crossed the target and attained 492.31 million tonnes.
New Trends in
Passenger Amenities:
To take care of the unreserved segment of the passengers, a
new pilot project on computer based unreserved ticketing has been launched this
year. Of the 13 million passengers served by the network everyday, nearly 12
million are unreserved passengers. To cater to this huge segment, computer
based ticketing systems has been launched for all stations in
Indian Railway
Catering and Tourism Corporation
With the assistance of Centre for Railway Information
Systems has launched On-line ticketing facility which can be accessed through
website irctc.co.in. Computerized reservation facilities were added at 245 new
locations. At present these facilities are available at 758 locations in the
country covering about 96 per cent of the total workload of passenger
reservation. Computerized Reservation related enquiries about accommodation
availability, passenger status, train schedule, train between pair of stations etc.
have been made web enabled.
A pilot project for issuing monthly and quarterly season tickets through
Automated Teller Machines (ATMs) has been launched in Mumbai this year and has
been found very successful. Another pilot project for purchasing tickets
including monthly and quarterly season tickets through Smart Card has
also been launched.
"National Train Enquiry System" has been started in order to
provide upgraded passenger information and enquiries. This system provides the
train running position on a current basis through various output devices such
as terminals in the station enquiries and Interactive Voice Response System
(IVRS) at important railway stations. So far the project has been implemented
at 98 stations.
Freight Operations Information System (FOIS)
Computerisation of freight operations by Railways has been achieved by
implementing Rake Management System (RMS). Such FOIS terminals are available at
235 locations
Railways have established their own intra-net 'Railnet' It provides
networking between Railway Board, Zonal Headquarters, Divisional headquarters,
Production Units, Training Centers etc.
Sterling Performance by PSUs The public sector
undertakings of the Railways, especially IRCON and RITES, scored commendable
achievements during the last three years. IRCON International has achieved a
record turnover of Rs.9000.000 Millions during 2001-02 and the foreign exchange
earnings of this prestigious organization has increased six fold over the
years. At the international level, IRCON is at present executing different
projects in
RITES, another prestigious PSU under the Ministry has
scaled new heights in performance, profit and dividend to the shareholders
during the last three years. Its turn over increased from Rs.172.000 Millions
in 1999 to Rs.2830.000 Millions in 2002. RITES for its sterling performance
secured the prestigious ISO-9001 Certification this year. The company has also
entered into export/leasing of locomotives in different countries in Asia and
Indian Railways Finance Corporation Limited secured excellent rating for fourth year in succession by the Department of Public enterprises on the basis of the performance targets. Besides, Standards and Poor's, the international credit rating agency, also reaffirmed the sovereign ratings to IRFC. The Corporation has been making profits and paying dividends.
Indian Railway Catering & Tourism Corporation (IRCTC)
Internet based ticket booking has been launched by IRCTC in
More than half a lakh tourists have availed the value added tour package programme launched by the Corporation this year.
Innovative
Technologies by Kokan Railway:
Konkan Railway Corporation (KRC), the technological marvel of Indian Railways, has invented quite a few new technologies. Anti Collision Device (ACD), state-of-art indigenous technology of KRC is currently under-going intensive field trials and is capable of avoiding collision between trains. Sky bus metro is another innovative, economic and eco-friendly mass rapid transportation solution devised by Konkan Railway. Self Stablising Track (SST) devised by KRC, which is undergoing trials at present, will help Railways run the fastest train in the near future and will make tracks much more safe and sustainable.
Private Sector
Participation:
The participation of both private and public sectors in
developing rail infrastructure has gone up. A joint venture company was formed
with
Telecommunication -
New Trends:
To give improved telecommunication systems on Railways, Optical Fibre based communication systems has been adopted and laying OFC has increased to 7,700 route kilometer this year. Rail Tel Corporation has been created to make a nationwide broadband multimedia network by laying optical fibre cable along the railway tracks. This system will provide better operational and passenger amenities and additional revenue to Railways.
New Technologies:
Diesel Locomotives Works,
Honours and Awards
Indian Railways achieved a number of recognitions and awards
in sports, tourism sector and for excellence in operational matters. In the
Common Wealth Games in
Darjeeling Himalayan Railways attained the World Heritage Status from UNESCO.
Fairy Queen, the oldest functioning steam engine in
the world, which finds a place in the Guinness Book of World Records, got
Heritage Award at the International Tourist Bureau,
Social obligations
and care for weaker sections
Senior citizens, students, disabled persons etc. enjoy concessional benefits from Railways. New initiatives in this area during the last three years include reduction of age limits for special concession to senior women citizen from 65 to 60 years, blind and mentally challenged persons can now travel in AC classes on confessional rates. Free second class Monthly Season Tickets (MSTs) for school going children upto tenth standard for travel between home and school was also introduced.
Tie-Up with Foreign
Railways
Indian Railways is in constant touch with Railways across
the world to bring in state-of-art facilities in its system. Towards this, a
Memorandum of Understanding was singed during the Eighth Session of the
Indo-Austria Joint Economic Commission held in
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Press Release:
International
Level Crossing Awareness Day on 9th June 2011
Railways Carry Intensive Awareness Campaign to Educate Road Users
Every year, International Union of Railways (UIC) observes one day as the International Level Crossing Awareness Day (ILCAD). This year, 9th June is being observed as ILCAD. Indian Railways has decided to participate ink this global campaign to sensitize road users to increase safety at unmanned level crossings. The ILCAD focuses on educational measures and the promotion of safe behaviour at and around level crossings. It is built on existing national events which will be held jointly at various locations in every participating country on June 9th, 2011.
The number of unmanned level crossing accidents occurring on Indian Railways is
a cause of concern. At present, there are total 32694 numbers of level
crossings over Indian Railways out of which 14853 are unmanned where the
accidents occur primarily due to inadequate precautions by the road users
failing to observe mandatory sign boards, signals and basic traffic safety
rules. Over the last five years, the train accidents at unmanned level
crossings remained at low level.
Indian Railways carry out intensive social awareness campaigns, on a regular
basis, to educate road users. This includes publicity campaigns through various
media like newspapers, TV, Radio etc., distribution of posters, leaflets,
various short duration films/advertisements etc. Even in local languages have
been prepared by the Zonal Railways for educating the road users about the
precautions to be taken while negotiating the unmanned level crossings. There
is a need to educate people at Village Panchayats, schools, weekly markets in
rural areas and also carry out ambush checks at unmanned level crossings.
To enhance the safety and reduce inconvenience to road users, busy level
crossings are being replaced by Road over Bridges (ROB)/ Road Under Bridges
(RUB) and Limited Height Sub Ways (LHS) gradually. In the year 2010- 11, 641
ROB/RUB/LHS have been constructed under various schemes.
Ministry of
Railways Issues Notification to Extend the Rail Fare Concession to Family of
Accredited Press Correspondents Twice During the Financial Year
The New Facility to be Effective from 1st June, 2011
As per existing rules, 50 per cent concession is admissible in all
classes in basic fares of Mail/Express trains and in fares of
Rajdhani/Shatabdi/Jan Shatabdi trains to accredited Press Correspondents for
unlimited travel on bonafide press work. The same concession is also admissible
to spouse/companion and dependent children up to 18 years of the correspondent
while travelling with him/her once in a financial year.
As announced in Railway Minister’s Budget speech for 2011-12 on 25th February,
2011, Ministry of Railways have decided to extend the concession to family
(Spouse/.companion and dependent children up to 18 years) twice during the
financial year.
The facility will be effective from 01.06.2011.
There is no change in other terms and conditions.
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.44.74 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.65.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
73 |
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.