MIRA
INFORM REPORT
|
Report Date : |
16.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
INFRASOFT TECHNOLOGIES LIMITED |
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Formerly Known
as : |
B AND K INFORMATION SERVICES PRIVATE LIMITED |
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Registered
Office : |
Technosoft Knowledge Gateway Building, Ground Floor, B-14, Road No. 1,
Wagle Industrial Estate, Thane (West), Mumbai – 400604, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
06.07.1995 |
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Com. Reg. No.: |
11-135094 |
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Capital
Investment / Paid-up Capital : |
Rs.53.578 Millions |
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CIN No.: [Company Identification
No.] |
U72900MH1995PLC135094 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMI05612F |
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PAN No.: [Permanent Account No.] |
AAACB2817R |
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Legal Form : |
A Closely held Public Limited Liability Company |
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Line of Business
: |
They Develop software for banking and finance sector |
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No. of Employees
: |
500 (In Office) (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2600000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be 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. Amit Munde |
|
Designation : |
Accounts Head |
|
Date : |
14.06.2011 |
LOCATIONS
|
Registered Office : |
Technosoft Knowledge Gateway Building, Ground Floor, B-14, Road No. 1,
Wagle Industrial Estate, Thane (West), Mumbai – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-67764000 |
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Fax No.: |
91-22-67764040 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 05.08.2010
|
Name : |
Mr. Munish Dayal |
|
Designation : |
Chairman |
|
Address : |
B – 24, Mayfair Gardens, New Delhi – 110016., Southcity Heights,
Southcity, Gurgaon, Haryana, India - 122001 |
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Date of Birth/Age : |
03.04.1966 |
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Date of Appointment : |
06.07.2007 |
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Name : |
Mr. Hanuman Tripathi |
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Designation : |
Managing Director |
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Address : |
B-1602, Valencia, Hiranandani Garden, Powai, Mumbai – 400076. |
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Date of Birth/Age : |
12.08.1961 |
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Date of Appointment : |
26.07.1995 |
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Name : |
Mr. Rashmi Agarwal |
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Designation : |
Director |
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Address : |
Flat No. 602, 6th Floor, La – Roche, TPSIII, 19th Road,
Khar (West), Mumbai 400052 |
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Date of Birth/Age : |
08.03.1950 |
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Date of Appointment : |
06.07.1995 |
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Name : |
Mr. Sundaram Meenakshi Sivaramakrishnan |
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Designation : |
Director |
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Address : |
Flat 4, Mithila, 35B (New No 46), 3rd Street, Abhirampuram, Chennai,
Tamil Nadu 600018. |
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Date of Birth/Age : |
24.11.1965 |
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Date of Appointment : |
15.04.2008 |
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Name : |
Mr. Rangan Mohan |
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Designation : |
Director |
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Address : |
600, 12th Main, H.A.L.Second Stage, Bangalore-560008 |
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Date of Birth/Age : |
03.09.1960 |
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Date of Appointment : |
17.07.2007 |
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Name : |
Mr. Milind Chalisgaonkar |
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Designation : |
Director |
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Address : |
I-1103, Springfields, Sarjapur Road, Bangalore- 560 102 |
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Date of Birth/Age : |
15.02.1965 |
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Date of Appointment : |
12.11.2009 |
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Name : |
Mr. Siddharth Saboo |
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Designation : |
Company Secretary |
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Address : |
401,Bld No 18, Nilgiri Siddhanchal Phase-3, Near Vasant Vihar, Thane
(W), Mumbai |
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Date of Birth/Age : |
17.05.1973 |
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Date of Appointment : |
31.07.2004 |
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Name : |
Mr. N. Subramaniam |
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Designation : |
Chairman |
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Address : |
1309 A, Beverly Park- II, Mehrauli Gurgaon, Road, DLF Phase II
Gurgoan, Haryana 122002 |
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Date of Birth/Age : |
02.08.1961 |
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Date of Appointment : |
06.07.2007 |
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Date of Ceasing : |
09.10.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.08.2010
|
Names of Shareholders |
|
No. of Shares |
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Baring India Private Equity Fund II Limited, Gurgaon |
|
4448008 |
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Batlivala and Karani Securities India Private Limited, India |
|
997956 |
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Hanuman Tripathi |
|
576697 |
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Rajesh Mirjankar |
|
417893 |
|
Maninder Singh |
|
405771 |
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Rahul Agarwal |
|
365000 |
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Rohit Agarwal |
|
380000 |
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Rashmi Agarwal |
|
285000 |
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Batlivala And Karani Portfolio Advisory Services Private Limited,
India |
|
106250 |
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Jai Rahul Agarwal |
|
66707 |
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Rachana Murarka |
|
50000 |
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Ian Mcallister |
|
32000 |
|
Santosh Shetty |
|
18750 |
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Infrasofttech Employees Stock Ownership Trust |
|
18120 |
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Bhaskar Iyer |
|
3925 |
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Yogesh Paralkar |
|
9100 |
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Devaray Nayak |
|
7460 |
|
Susan D'souza |
|
6620 |
|
Utpal Ganguly |
|
6300 |
|
Oswald Lopes |
|
6060 |
AS ON 05.08.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
53.22 |
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Bodies corporate |
13.21 |
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Directors or relatives of Directors |
20.74 |
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Other top fifty shareholders |
12.59 |
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Others |
0.24 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
They Develop software for banking and finance sector |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
500 (In Office) (Approximately) |
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Bankers : |
·
HSBC Bank, Fort Branch, India ·
ICICI Bank, Andheri, Mumbai, India ·
The Hongkong
and Shanghai Banking Corporation Limited, Fort BranchM 52/60 M G Road Mumbai
– 400001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Walker Chandiok and Company Chartered Accountant |
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Address : |
6th Floor, Engineering Centre, 9 Matthew Road, Opera House,
Mumbai – 400004, Maharashtra, India |
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Tel. No.: |
91-22-23671623 |
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Fax No.: |
91-22-23671624 |
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E-Mail : |
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Related Company : |
·
Global Fintech Private Limited |
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Subsidiaries : |
·
Infrasoft Tech India Limited – India - 4th July 2005. ·
Infrasoft Technologies Inc. – USA - 10th
August 2001. ·
Infrasoft Technologies Limited – UK - 9th July 1999. ·
Infrasoft Technologies FZ LLC – Dubai - 4th December
2005 ·
Infrasoft Technologies Pte. Limited - Singapore -
11th
October 2001 ·
Infrasoft Technologies Sdn. Bhd. – Malaysia - 24th
November 2006 ·
Infrasoft Technologies Jersey Limited – Jersey - 4th May
2007 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8357882 |
Equity Shares |
Rs.10/- each |
Rs.53.578
Millions |
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|
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|
Note : Out of the above 4,448,008 equity shares are held by Baring
Private Equity Fund II.
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 |
83.578 |
83.578 |
83.578 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
567.079 |
535.313 |
504.529 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
650.657 |
618.891 |
588.107 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.086 |
17.746 |
23.267 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
2.086 |
17.746 |
23.267 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
652.743 |
636.637 |
611.374 |
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APPLICATION OF FUNDS |
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|
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|
|
|
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FIXED ASSETS [Net Block] |
16.356 |
18.488 |
32.783 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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INVESTMENT |
418.303 |
410.532 |
388.704 |
|
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DEFERREX TAX ASSETS |
10.285 |
11.148 |
1.304 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
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Sundry Debtors |
129.714
|
91.296 |
119.441 |
|
|
Cash & Bank Balances |
94.123
|
98.647 |
23.211 |
|
|
Other Current Assets |
33.452
|
33.547 |
33.334 |
|
|
Loans & Advances |
34.288
|
32.848 |
46.725 |
|
Total
Current Assets |
291.577
|
256.338 |
222.711 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22.254 |
18.780 |
24.138 |
|
|
Other Current Liabilities |
34.080
|
23.838 |
3.902 |
|
|
Provisions |
27.444
|
17.251 |
6.088 |
|
Total
Current Liabilities |
83.778
|
59.869 |
34.128 |
|
|
Net Current Assets |
207.799
|
196.469 |
188.583 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
652.743 |
636.367 |
611.374 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Software Development Charges |
|
|
|
|
|
|
Domestic |
79.550 |
2.916 |
9.247 |
|
|
|
Overseas |
190.397 |
242.303 |
244.778 |
|
|
|
Annual Maintenance Charges |
8.232 |
8.053 |
14.215 |
|
|
|
Other Income |
23.808 |
34.031 |
2.662 |
|
|
|
TOTAL (A) |
301.987 |
287.303 |
270.902 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of revenues |
0.374 |
2.445 |
10.540 |
|
|
|
Employees Cost |
123.559 |
114.919 |
113.942 |
|
|
|
General and Administrative expenses |
105.209 |
111.519 |
123.783 |
|
|
|
TOTAL (B) |
229.142 |
228.883 |
248.265 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
72.845 |
58.420 |
22.637 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.940 |
1.944 |
4.779 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
70.905 |
56.476 |
17.858 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.530 |
13.185 |
15.719 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
63.375 |
43.291 |
2.139 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
7.164 |
(2.160) |
1.858 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
56.211 |
45.451 |
0.281 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
216.614 |
190.375 |
192.077 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5.621 |
4.545 |
0.028 |
|
|
|
Dividend |
20.894 |
12.536 |
1.671 |
|
|
|
Tax on Dividend |
3.551 |
2.130 |
0.284 |
|
|
BALANCE CARRIED
TO THE B/S |
242.759 |
216.614 |
190.375 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Software Development Charges |
190.397 |
242.303 |
244.778 |
|
|
TOTAL EARNINGS |
190.397 |
242.303 |
244.778 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.73 |
5.44 |
0.03 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
1200.000 |
|
|
|
|
|
The above information has been parted by Mr. Amit Munde.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
18.61
|
15.81 |
0.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
79.66
|
1484.60 |
23.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.58
|
15.78 |
0.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.06 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.13
|
0.12 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.48
|
4.28 |
6.52 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
for services |
0.036 |
1.896 |
0.044 |
|
for expenses |
22.218 |
16.884 |
24.094 |
|
|
|
|
|
|
Total |
22.254 |
18.780 |
24.138 |
BACKGROUND
Subject is [formerly known as B and K Information Services Private
Limited] was incorporated on July 6, 1995.
Subject offers
software products, solutions, and services for banks and financial institutions
in India, United Kingdom, Middle East, United States, Singapore, Malaysia and
Jersey. It offers the following products:
·
Core Banking Solution that creates new business
models for banks to provide integrated process and data solutions;
·
Wealth Management framework that offers a platform
for wealth management services for private banks, asset managers, fund
managers, trusts, insurance firms, brokerages, and banks;
·
Anti Money Laundering software - a business
intelligence driven logical data model that addresses compliance requirements
of banks, insurance firms, money exchanges, and other financial institutions;
and · Islamic Banking Solution for retail banking, wholesale banking,
investment banking, and funds management.
·
Micro finance Microfinance Solution provides a
fully integrated application that addresses the entire life-cycle of lending
process from origination, servicing and collection and recovery.
The Company also
provides e Channel integrator, which enables delivery of services through various
electronic channels, such as Internet, peer to peer links, mobile, and
gateways. In addition, it offers framework based solutions, migration services,
testing services, offshore development and onshore integration services, and
managed services to provide application support and enhancement. Further, the
Company provides application development services in the areas of business
analysis, prototyping, solution architecting, design, development, validation,
verification, solution deployment, and ongoing support and enhancements, as
well as offers consulting services.
FINANCIAL
HIGHLIGHTS FOR THE YEAR INCLUDES :
·
This year’s results show a marginal growth in
revenues and more than doubling of profits. India SME Core Banking business,
grew 18% from Rs.147.900 millions (US$3.28mn) in 2008‐09 to Rs.175.100
millions (US$3.89mn) in 2009‐10 with 12 new
sites against 9 in 2008‐09.
·
Emerging Markets business showed excellent growth
of 535% from Rs.18.800 millions (US$0.42mn) in 2008‐09 to Rs.119.400
millions (US$2.65mn) in 2009‐10 with 13 new
sites against 6 in 2008‐09. This includes
India MFI, India AML, SEA and Africa.
·
Wegagen Bank Core Banking order jumped the contract
price to us for US$1.8 million. It can set a trend which we are looking for
many years. Besides WVI of year before last, even before a single delivery can
happen, they have got 7 Microfinance deals this year.
·
UK contributed more on acquisition of new customers
in products than services this year. AML Sales doubled this year with 17 new
sites, earning Rs.83.300 millions (US$1.85mn) against Rs.40.800 millions
(US$0.91 million) in 2008‐09.
NOTE :
The registered office address of the company has been shifted from 6th
Floor Trade Stara wing, Andheri (East), Mumbai – 400059, Maharashtra, India to
present address w.e.f. 12.07.2010
FORM : 8
|
Corporate identity number of the company |
L72900MH2002PLC135094 |
|
Name of the company |
INFRASOFT TECHNOLOGIES LIMITED |
|
Address of the registered office or of the
principal place of business in |
6th Floor Trade Stara Wing, Andheri (East)
Mumbai -400059, Maharashtra India. |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts |
|
Particular of charge holder |
The Hongkong and Shanghai Banking Corporation
Limited, Fort BranchM 52/60 M G Road Mumbai – 400001, Maharashtra, India |
|
Nature of instrument creating charge |
In consideration of Overdraft/Guarantee
and any other Banking facilities sanctioned/to be sanctioned by the Bank to the
Company, the Company has hypothecated and charged to the Bank by way of first
and exclusive charge as a continuing security, the assets
mentioned in the Agreement
mentioned above to secure the repayment of the advances together with
interest cost and all other charges. Interest at the rate of HSBC Prime
Lending Rate currently at HSBC Prime per annum shall be payable. |
|
Date of instrument Creating the charge |
05/10/2006 |
|
Amount secured by the charge |
Rs. 60.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest 10%p.a. Terms
of repayment Since its a Overdraft Facility, there are
no fixed terms of repayment. Margin Fixed deposit under lien to the extent of
25% of the guarantee facility. First charge on receivables belonging to
Infrasoft Technologies Limited for securing facilities of Rs. 112,000
millions Extent
and operation of the charge As described in the hypothecation deed
Dtd.05.10.2006. Other
Nil |
|
Short particulars of the property charged
(Including location of the property) |
As described in the hypothecation deed
Dtd.05.10.2006. |
|
Date of instrument modifying the charge |
05/10/2006 |
|
Particulars of the present modification |
At the request of the company HSBC has
agreed to increase limit from INR 60.000 millions to INR 112.000 millions as
detailed in Supplemental Deed of Hypothecation dated 05.10.2006. |
FIXED ASSETS :
·
Buildings
·
Furniture and fittings
·
Electrical fittings
·
Computer and peripherals
·
Office equipment
·
Leasehold improvements
·
Vehicles
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. 44.68 |
|
|
1 |
Rs. 73.04 |
|
Euro |
1 |
Rs. 64.29 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.