MIRA
INFORM REPORT
|
Report Date : |
16.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
UTV NEWS LIMITED (w.e.f. 04.06.2007) |
|
|
|
|
Formerly Known
As : |
UTV NEWS PRIVATE LIMITED |
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|
|
Registered
Office : |
Parijaat House, 1076, |
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|
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
28.04.2007 |
|
|
|
|
Com. Reg. No.: |
11-170406 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.300
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U9220MH2007PLC170406 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Company is in the business of Production and Telecast of Business News
through an Indian Business News and Current Affairs Channel. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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|
Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Unilazer Media Limited, It is a company having moderate track. There appears huge accumulated
losses recorded by the company. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. In view of strong holding, the company can be considered normal for
business dealings at usual trade terms and conditions and with some caution
in view of substantial losses recorded by the company. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Siddharth Narula |
|
Designation : |
Secretary (Marketing Head Department) |
|
Date : |
15.06.2011 |
LOCATIONS
|
Registered Office : |
Parijaat House, 1076, |
|
Tel. No.: |
91-22-40987000/ 24905353 |
|
Fax No.: |
91-22-40987474/ 24905370 |
|
E-Mail : |
DIRECTORS
As on 08.06.2010
|
Name : |
Mr. Deven Harendranath Khote |
|
Designation : |
Director |
|
Address : |
1-15 Ashoka Apartment, 1st Floor, |
|
Date of Birth/Age : |
05.04.1962 |
|
Date of Appointment : |
10.09.2008 |
|
DIN No.: |
00003461 |
|
|
|
|
Name : |
Mr. Rohinton Soli Screwvala |
|
Designation : |
Director |
|
Address : |
31, Landmark, 17/738 Dhanukar Marg, Mumbai – 400 026, |
|
Date of Birth/Age : |
08.09.1956 |
|
Date of Appointment : |
28.04.2007 |
|
DIN No.: |
00003423 |
|
Other Directorship : |
CIN of company: L72200MH1990PLC056987 Name of the company: UTV Software Communications Limited Designation: Director CIN of company: U51900MH1991PTC062464 Name of the company: Unilazer Exports and Management Consultants
Limited Designation: Director CIN of company: U64201MH2006PLC166426 Name of the company: UTV Broadcasting Limited Designation: Director CIN of company: U92142MH2007PLC167974 Name of the company: Genx Entertainment Limited Designation: Director |
|
|
|
|
Name : |
Mrs. Zarina Furdoon Mehta |
|
Designation : |
Director |
|
Address : |
Rohinton Screwvala, 17/738 Dhanukar Marg, Mumbai – 400 026, |
|
Date of Birth/Age : |
06.11.1961 |
|
Date of Appointment : |
28.04.2007 |
|
DIN No.: |
00004518 |
|
Other Directorship : |
CIN of company: L72200MH1990PLC056987 Name of the company: UTV Software Communications Limited Designation: Director CIN of company: U51900MH1991PTC062464 Name of the company: Unilazer Exports and Management Consultants
Limited Designation: Director CIN of company: U64201MH2006PLC166426 Name of the company: UTV Broadcasting Limited Designation: Director CIN of company: U92142MH2007PLC167974 Name of the company: Genx Entertainment Limited Designation: Director |
KEY EXECUTIVES
|
Name : |
Mr. Siddharth Narula |
|
Designation : |
Secretary (Marketing Head Department) |
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|
|
|
Name : |
Sanjay Parab and Company |
|
Designation : |
Company Secretaries |
|
Address : |
Shop No. 1B, Ground Floor, Shyam Sagar
Apartments, S. J. Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra,
India |
|
Tele Fax No.: |
91-22-24915614 |
|
E-Mail: |
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|
|
|
|
Name : |
Ms. Mini Menon |
|
Designation : |
Senior Editor and Head – News Features |
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|
|
|
Name : |
Ms. Preeti Prasad |
|
Designation : |
Executive Producer |
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|
Name : |
Ms. Pranjal Sharma |
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Designation : |
Executive Editor |
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|
|
Name : |
Mr. Jagjit Singh Siyan |
|
Designation : |
Consultant - Broadcasting and Ops Engineering |
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|
Name : |
Mr. Prashanto Das |
|
Designation : |
Network Head - Creative Services |
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|
Name : |
Mr. Anup Dutta |
|
Designation : |
Vice President - Finance |
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|
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|
Name : |
Mr. Vaibhav Chib |
|
Designation : |
Head - Commercials (Team Creative) |
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|
|
|
Name : |
Kurien Abraham |
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Designation : |
National News Editor |
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|
|
|
Name : |
Mr. Vaibhav Tiwari |
|
Designation : |
Associate Vice President - Technical Operations |
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|
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|
Name : |
Mr. Vikram Oza |
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Designation : |
Features Editor |
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|
|
|
Name : |
Mr. Pankaj Khanna |
|
Designation : |
National Head - utvmoney.com |
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|
|
|
Name : |
Mr. Siddharth Narula |
|
Designation : |
Vice President - Sales |
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|
|
Name : |
Mr. Rahul Arora |
|
Designation : |
Stocks Editor |
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|
Name : |
Mr. Vivek Malhotra |
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Designation : |
Vice President - Marketing |
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|
Name : |
Mr. Deepak Lamba |
|
Designation : |
Business Head- Bloomberg UTV |
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|
|
|
Name : |
Mr. R. Swaminathan |
|
Designation : |
VP - Portals |
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|
|
Name : |
Mr. Prasad Sankaran |
|
Designation : |
AVP - Sales |
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|
|
|
Name : |
Mr. Govindraj Ethiraj |
|
Designation : |
Editor-in-Chief |
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|
|
|
Name : |
Mr. Manoj Padmanabhan |
|
Designation : |
Vice President - Sales |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
Unilazer Exports and Management Consultants Limited, |
|
19296 |
|
Rohinton Soli Screwvala |
|
1 |
|
Zarina Furdoon Mehta |
|
1* |
|
Jignesh Kenia |
|
1* |
|
Mohammed Sajid Ali |
|
1* |
|
Punnet Juneja |
|
1* |
|
Unilazer Media Limited, |
|
1910699 |
|
Total |
|
1930000 |
Note: *Holding shares as a nominee on behalf of Unilazer Exports and Management Consultants
Limited.
As on 25.02.2011
|
Names of Allottees |
|
No. of Shares |
|
Sumit Sethi |
|
220 |
|
Total |
|
220 |
As on 07.01.2011
|
Names of Allottees |
|
No. of Shares |
|
Vandana Rawal |
|
440 |
|
Total |
|
440 |
As on 17.11.2010
|
Names of Allottees |
|
No. of Shares |
|
Prashanto Das |
|
1760 |
|
Arun Anandagiri |
|
880 |
|
Sumit Kilam |
|
733 |
|
Total |
|
3373 |
As on 08.06.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is in the business of Production and Telecast of Business News
through an Indian Business News and Current Affairs Channel. |
|
|
|
|
Brand Names : |
“BLOOMBERG UTV” |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
v Yes Bank
Limited, 9th Floor, Nehru Centre, Discovery of v
Axis Bank Limited, Unit No.6, Corporate Park, |
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Nisar and Kumar Chartered Accountants |
|
Address : |
A/17, |
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Tel. No.: |
91-22-23515414 |
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Fax No.: |
91-22-23515527 |
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|
|
|
Holding Company : |
Unilazer Media
Limited, CIN No.: U74940MH2009PLC191120 |
CAPITAL STRUCTURE
After 08.06.2010
Authorised Capital : Rs.100.000 millions
Issued, Subscribed & Paid-up Capital : Rs.22.776
millions
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 millions |
|
6000000 |
Preference Shares |
Rs.10/- each |
Rs.60.000 millions |
|
|
Total
|
|
Rs.100.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1930000 |
Equity Shares |
Rs.10/- each |
Rs.19.300
millions |
|
|
|
|
|
Note:
1910699 Equity Shares are held by Unilazer Media Limited, the holding company.
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 |
19.300 |
19.300 |
19.300 |
|
|
2] Share Application Money |
0.000 |
1049.900 |
2.500 |
|
|
3] Reserves & Surplus |
18.800 |
18.800 |
18.800 |
|
|
4] (Accumulated Losses) |
(2207.073) |
(1361.874) |
(155.233) |
|
|
NETWORTH |
(2168.973) |
(273.874) |
(114.633) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
927.201 |
566.119 |
303.187 |
|
|
2] Unsecured Loans |
1807.600 |
50.000 |
113.383 |
|
|
TOTAL BORROWING |
2734.801 |
616.119 |
416.570 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
565.828 |
342.245 |
301.937 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
400.906 |
525.141 |
15.332 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
509.859 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
76.815
|
44.324 |
0.000 |
|
|
Cash & Bank Balances |
55.297
|
32.592 |
1.333 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
211.948
|
133.482 |
44.397 |
|
Total
Current Assets |
344.060
|
210.398 |
45.730 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
135.442 |
353.645 |
245.596 |
|
|
Other Current Liabilities |
30.165
|
28.964 |
22.012 |
|
|
Provisions |
13.531
|
10.685 |
1.376 |
|
Total
Current Liabilities |
179.138
|
393.294 |
268.984 |
|
|
Net Current Assets |
164.922
|
(182.896) |
(223.254) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
565.828 |
342.245 |
301.937 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
222.656 |
127.411 |
0.000 |
|
|
|
Other Income |
51.073 |
0.057 |
0.001 |
|
|
|
TOTAL (A) |
273.729 |
127.468 |
0.001 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Production and Operation |
134.228 |
229.586 |
6.183 |
|
|
|
Marketing, Distribution and Promotion |
347.324 |
384.007 |
15.824 |
|
|
|
Staff Cost |
256.794 |
265.565 |
71.516 |
|
|
|
Administrative and Other Expenses |
154.497 |
251.743 |
60.705 |
|
|
|
TOTAL (B) |
892.843 |
1130.901 |
154.228 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(619.114) |
(1003.433) |
(154.227) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
73.486 |
67.725 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(692.600) |
(1071.158) |
(154.227) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
152.599 |
131.291 |
0.668 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(845.199) |
(1202.449) |
(154.895) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
4.192 |
0.338 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(845.199) |
(1206.641) |
(155.233) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1361.874) |
(155.233) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2207.073) |
(1361.874) |
(155.233) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Imports of Capital Goods |
NA |
28.738 |
345.329 |
|
|
TOTAL IMPORTS |
NA |
28.738 |
345.329 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(437.93) |
(625.20) |
(80.43) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(308.77)
|
(946.62)
|
(15523300.00)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(379.60)
|
(943.76)
|
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(113.45)
|
(163.48)
|
(253.67)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
4.39
|
1.35
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(1.34)
|
(3.69) |
(5.98) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.92
|
0.53 |
0.17 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors
for Goods and Expenses |
|
|
|
|
- Due to Small
and Micro Enterprises |
-- |
-- |
-- |
|
Sundry Creditors
for Goods and Expenses |
135.442 |
353.645 |
245.596 |
BACKGROUND:
Subject was incorporated in
FORM 8:
|
Corporate identity
number of the company |
U9220MH2007PLC170406 |
|
Name of the
company |
UTV NEWS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Parijaat House, 1076, E-Mail: puneet.juneja@utvgroup.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10214071 |
|
Type of charge |
Book Debts Movable Property Others (All
current assets including stock, raw materials, SIP etc) |
|
Particular of
charge holder |
CIN No.: L65110GJ1993PLC020769 Axis Bank Limited, Unit No.6, Corporate Park, E-Mail: suman.chattopadhyay@axisbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental deed
of Hypothecation dated 20th September, 2010 and Amendment Cum Link
Agreement dated 20th September 2010. |
|
Date of
instrument Creating the charge |
20.09.2010 |
|
Amount secured by
the charge |
Rs.500.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: i) BPLR-3.75%
p.a. payable monthly for Working Capital Term Loan (TL) ii) LOU
commission @ 1.25% per annum iii) 1.70% for BG
Limit iv) BPLR-3.75%
for TL payable monthly Terms of
Repayment: In 8 quarterly
installments after moratorium of 12 months from the date of disbursement for
Working Capital Term Loan of Rs.185.000 million.1 year for LOU, In 8
quarterly installments of Rs.37.500 millions each commencing from 30.09.2011
for the Term Loan of Rs.300.000 millions. Extent and
Operation of the charge: First Pari Passu
charge on the current and fixed assets of the Company more particularly
stated in Supplemental Deed of Hypothecation dated 20th September,
2010 and Amendment Cum Link Agreement dated 20th September, 2010
for the aggregate credit facilities of Rs.500.000 millions. |
|
Short particulars
of the property charged |
First charge on
the current and fixed assets of the Company more particularly described
in Supplemental Deed of Hypothecation
dated 20th September, 2010 First charge on
the current and fixed assets of the Company more particularly described in
Amendment cum link agreement dated 20th September, 2010 |
|
Particulars of
the present modification |
Present modification
of charge is to cover the reinstatement of reduced working capital term loan
limit of Rs.50.000 millions by way of working capital term loan limit of
Rs.35.000 millions and Loan Equivalent Risk of Rs.15.000 millions with an
overall charge on the company assets will continue at Rs.500.000 millions. |
FIXED ASSETS:
Tangible Assets
v
Leasehold Improvements
v
Plant and Machinery
v
Furniture and Fixtures
v
Computers
v
Office Equipments
v
Vehicles
Intangible Assets
v
Website
v
Computer Software
WEBSITE DETAILS:
PRESS RELEASES:
BLOOMBERG TV, UTV ANNOUNCES PARTNERSHIP; BIZ
CHANNEL UTVI TO BECOME BLOOMBERG-UTV
Global news and
information giant Bloomberg and Indian business news channel UTVi, part of
diversified media firm UTV Software Communications, this morning signed a
content and co-branding agreement, under which, UTVi will be rebranded as
Bloomberg-UTV. The channel’s website, Utvi.com, will become Bloombergutv.com.
The deal comes
after months of negotiations, which we first reported in May. Bloomberg was
also in talks with NDTV Profit. We had said that a financial deal would be part
of it and multiple sources familiar with the talks said a financial deal was
probably on the way and would likely be announced at a later stage after obtaining
regulatory approvals. A UTV statement said nothing about a financial
transaction and UTVi chairman Ronnie Screwvala was unavailable for comment.
“We are thrilled
about this collaboration and believe the audience in
UTVi is broadcast by UTV News Limited, a company wholly owned by Ronnie
Screwvala, who is also the chairman and promoter of UTV Software Communications
Limited The Walt Disney Company (NYSE: DIS), through an overseas subsidiary,
owns about 59% stake in UTV Software Communications, even though majority
voting control remains with the promoter group through a shareholders’ agreement.
With this deal,
Screwvala, a first generation entrepreneur who started off by wiring up South
Mumbai apartments and playing movies through a rudimentary cable network, has
not only built a media and entertainment business, but has also got two of the
world’s biggest brands in entertainment and news to be a partner.
Business News Market:
The already
heated business news broadcasting market just caught a fever with the entry of
Bloomberg TV. Rival Reuters is a content partner of new entrant ET Now, while
CNBC has been a long standing partner of TV18, the leader in the segment.
According to data from TAM Media Research, for the week ended 5 September, UTVi
had a 10% marketshare in the all-India segment. ET Now had 11%, NDTV Profit had
22% and CNBC TV18 had a dominationg 58% share. In the Metros, key markets for
business news in English, UTVi had a 16% share, ET Now had 18%, NDTV Profit had
23% and CNBC TV18 had a 42% share.
The tie-up with Bloomberg
will, without doubt, reenergize UTVi and the intense competition that will
likely result will be interesting to watch.
“
Andy Lack, CEO of
Bloomberg Multimedia Group said in a statement: “By working with UTV to realize
our shared vision for business and financial television, Bloomberg renews its
commitment to delivering business, economic and political news and analysis to
viewers in India, and at the same time to delivering news about one of the
world’s most dynamic economies to investors across the globe.”
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 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.