MIRA INFORM REPORT
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Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ATC TELECOM TOWER CORPORATION PRIVATE LIMITED
(w.e.f. 07.12.2010) |
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Formerly Known
As : |
ESSAR TELECOM INFRASTRUCTURE PRIVATE LIMITED |
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Registered
Office : |
Essar House, P O Box No.7945, Mahalaxmi, Mumbai 4000 34, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.06.2003 |
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Com. Reg. No.: |
11-140799 |
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Capital
Investment / Paid-up Capital : |
Rs.961.403 Millions |
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CIN No.: [Company Identification
No.] |
u72200mh2003ptc140799 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
muma26792d |
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PAN No.: [Permanent Account No.] |
aaeca9823e |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing of
Passive Telecom Site lnfrastructure Service termed as "lnfrastructure
Service" to cellular mobile telephony operators and other licensed
telecom operators |
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No. of
Employees: |
Not Divulged by
the management |
RATING & COMMENTS
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MIRA’s Rating : |
B ( 32 ) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 28382608 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an Essar Group Company. It is an established company having
moderate track. There appear some accumulated losses recorded by the company.
However, trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. In view of strong promoters, the company can be considered normal for
business dealings at usual trade terms and conditions, with slight caution in
account of accumulated losses. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DENIED BY
Management non – co-operative (Name not disclosed)
LOCATIONS
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Registered Office : |
403, 4th Floor, Skyline Icon, Andheri Kurla
Road, Near Mittal Industrial Estate, Andheri East, Mumbai – 400059,
Maharashtra, India |
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Tel. No.: |
91-22-40082715 |
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Fax No.: |
91-22-40082727 |
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Email: |
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Website : |
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Corporate Office : |
Essar Techno Park, Building- B, 2nd Floor, BKC- LBS Road
Junction, |
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Tel. No.: |
91-22- 67335000 |
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Fax No.: |
91-22-67335400 |
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E-Mail : |
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Circle Office : |
Andhra Pradesh Karnataka Rest of Maharashtra
and Goa Rajasthan Gujarat Bihar and Jharkhand
Kerala Mumbai UP (W) and
Uttaranchal Chennai and Rest of
Tamil Nadu Madhya Pradesh and
Chhatishgarh Orissa UP (E) |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Rajiv Agarwal |
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Designation : |
Director |
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Address : |
Panhar Plot No. 5, |
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Date of Birth/Age : |
11.08.1963 |
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Date of Appointment : |
27.10.2004 |
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Date of Cessation : |
06.08.2010 |
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Name : |
Mr. Subramaniam Somasundaram |
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Designation : |
Director |
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Address : |
Flat No. 62, Sangeeta Bldg CTS, No.614, 15th Road,
Santacruz, Mumbai – 400 054, |
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Date of Birth/Age : |
28.11.1960 |
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Date of Appointment : |
28.07.2009 |
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Name : |
Mr. Rajiv Sawhney |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
18.08.1960 |
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Date of Appointment : |
28.07.2009 |
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Name : |
Mr. Madur Kant Taneja |
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Designation : |
Director |
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Address: |
Flat No.1003, Madhukar Milan Apt., Road No.14B, Khar West, Mumbai –
400052, Maharashtra, India |
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Date of Birth/Age : |
05.01.1969 |
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Date of Appointment : |
10.08.2009 |
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Name : |
Mr. Neeraj Gupta |
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Designation : |
Director |
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Address : |
Panhar Plot No. 5, |
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Date of Birth/Age : |
20.11.1968 |
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Date of Appointment : |
22.08.2005 |
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Date of Cessation : |
06.08.2010 |
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Name : |
Mr. Amit Sharma |
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Designation : |
Director |
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Address : |
A20, Neeti Bagh, GF, New Delhi – 10049+D13 |
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Date of Birth/Age : |
22.01.1951 |
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Date of Appointment : |
06.08.2010 |
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Name : |
Mr. Edmund Disanto |
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Designation : |
Director |
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Address : |
56, High Ridge Road, West Hartford, CT – 06117, United States of
America |
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Date of Birth/Age : |
23.05.1952 |
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Date of Appointment : |
06.08.2010 |
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Name : |
Mr. Rajesh Madan |
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Designation : |
Director |
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Address : |
D 6/20, DLF I, Gurgaon – 122002, Haryana |
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Date of Birth/Age : |
26.03.1950 |
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Date of Appointment : |
06.08.2010 |
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Name : |
Mr. Pankaj Kulshretha |
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Designation : |
Director |
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Address : |
C2/49, Janak Puri, New Delhi – 110058, Delhi |
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Date of Birth/Age : |
11.12.1966 |
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Date of Appointment : |
06.08.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Equity Shares |
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Transcend Infrastructure Limited, Kolkata |
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74709679 |
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ATC Tower of India Private Limited, Delhi |
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1 |
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Total |
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74709680 |
AS ON 20.08.2009
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Date of Registration
Transfer |
No. of Shares
Transferred |
Transferor’s Name |
Transferee’s Name |
|
06.08.2010 |
5509999 |
Essar Investment Limited |
Transcend Infrastructure Limited |
|
06.08.2010 |
1 |
-- |
ATC Tower Company of India Private Limited |
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06.08.2010 |
2000000 |
Essar Securities Limited |
Transcend Infrastructure Limited |
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06.08.2010 |
67199680 |
Essar Telecom Infrastructure Holding Overseas Private Limited |
Transcend Infrastructure Limited |
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AS ON 30.09.2010
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Equity Share Breakup |
Percentage of
Holding |
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Category |
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Bodies corporate
|
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing of
Passive Telecom Site lnfrastructure Service termed as "lnfrastructure
Service" to cellular mobile telephony operators and other licensed
telecom operators |
GENERAL INFORMATION
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Customers : |
· Airtel · Idea · Vodafone · Tata Indicom · BSNL · BPL Mobile |
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Bankers : |
·
Axis Bank Limited, Atlanta Ground Floor, Nariman Point,
Mumbai – 400021, Maharashtra ·
Infrastructure Development Finance Company
Limited, ITC Centre, 3rd, Floor 760, Anna Salai, Chennai - 600 002
- 600002, Tamil Nadu, India |
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Facilities : |
Notes: As per the hypothecation deed entered by the Company with the Security Agent on behalf of the bankers, all the above loans are secured by: Pari passu first charge by way of hypothecation of all the movable assets, including movable machinery, machinery spares, tools and accessories, book debts, operating cash flows, commissions, receivables, revenues both present and future relating to project. Pari passu first charge by way of assignment or creation of charge of all the right, title, interest, benefit claims and demands in the project documents. Pari passu first charge on the Debt Service Reserve Account, Escrow Account and other reserve and any bank accounts relating to the project. As per the agreement for pledge of shares entered between the members of the Company i.e. investors with the Security Agent and the Company, the Investors have pledged 76% of the Shares held I issued by the Company in favour of the Security Agent as a security. |
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Financial
Institutions : |
L and T Finance Limited, L and T House, Ballard Estate,
Mumbai – 400 001, |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
S R Batliboi and Company Chartered Accountant |
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Address : |
Jalan Mill Compound 95 Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400
013, |
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Holding Company : |
·
Essar Communication Holdings Limited (Up to 31st
December, 2009) ·
Essar Telecom Infrastructure Holdings Overseas
Private Limited (From 01st January, 2010 till year end) CIN
No.: U67190GJ2000PTC038055 |
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Ultimate Holding Company: |
·
Essar Global Limited (Up to 31st
December, 2009) ·
Essar Investment Limited (From 01st
January, 2010 till year end) |
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Associates/Subsidiaries: |
·
Essar Infrastructure Services Limied (Formerly
Known as Essar House Services Limited) ·
Essar Information Technology Limited ·
Essar Properties Limited ·
Essar Investments Limited ·
Essar Tele Holdings Overseas Private Limited ·
Aegis Limited ·
Online Distribution Services Limited ·
Evergrowth Infra Private Limited ·
The Mobile Store Limited ·
ETHIL Global Capital Limited ·
Futura Travals Limited ·
Essar Tele Holdings Limited ·
Arkay Holdings Limited ·
Caris Computer Aided Inf. And Res. Services
Private Limited ·
Prajakta Trading and Finance Limited |
CAPITAL STRUCTURE
[Date: As on 31.03.2010]
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000000 |
Equity Shares |
Rs. 10/- each |
Rs.1000.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
74709680 |
Equity Shares |
Rs. 10/- each |
Rs.747.096
millions |
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Note:
Of the above, 67199680 Equity Shares are held
by Essar Telecom Infrastructure Holding overseas Private Limited, the holding
Company (Previous year 67199680 Equity Shares are held by Essar Communication
Holdings Limited, the holding company)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE `
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
747.096 |
747.096 |
747.096 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6722.971 |
6722.971 |
6722.971 |
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4] (Accumulated Losses) |
(374.415) |
(223.899) |
(158.163) |
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NETWORTH |
7095.652 |
7246.168 |
7311.904 |
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LOAN FUNDS |
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1] Secured Loans |
6882.608 |
6088.253 |
4737.926 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
6882.608 |
6088.253 |
4737.926 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13978.260 |
13334.421 |
12049.830 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8396.775 |
8228.993 |
6527.361 |
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Capital work-in-progress |
813.125 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
3719.132 |
450.000 |
|
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DEFERREX TAX ASSETS |
121.749 |
116.257 |
76.460 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
0.000
|
0.000
|
0.000 |
|
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Sundry Debtors |
988.702
|
358.442
|
497.771 |
|
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Cash & Bank Balances |
422.278
|
853.095
|
691.937 |
|
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Other Current Assets |
266.388
|
183.696
|
129.994 |
|
|
Loans & Advances |
5461.744
|
2288.746
|
5924.169 |
|
Total
Current Assets |
7139.112
|
3683.979
|
7243.871 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2085.368
|
2254.401
|
2092.822 |
|
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Other Current Liabilities |
399.561
|
147.294
|
135.468 |
|
|
Provisions |
7.572
|
12.245
|
19.571 |
|
Total
Current Liabilities |
2492.501
|
2413.940
|
2247.861 |
|
|
Net Current Assets |
4646.611
|
1270.039
|
4996.010 |
|
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|
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|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
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|
|
|
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TOTAL |
13978.260 |
13334.421 |
12049.830 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
|
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Income |
2361.487 |
1302.798 |
1027.193 |
|
|
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Other Income |
123.897 |
339.914 |
121.156 |
|
|
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TOTAL (A) |
2485.384 |
1642.712 |
1148.349 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Costs |
|
|
143.553 |
|
|
|
Administrative Expenses |
NA |
NA |
122.860 |
|
|
|
Operation & Maintenance Expense |
|
|
337.443 |
|
|
|
Prior Period Adjustments |
|
|
(18.582) |
|
|
|
TOTAL (B) |
NA |
NA |
585.274 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1367.078 |
944.446 |
563.075 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
759.238 |
545.397 |
415.183 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
607.840 |
399.049 |
147.892 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
763.415 |
516.192 |
357.777 |
|
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|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(155.575) |
(117.143) |
(209.885) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(4.676) |
35.530 |
64.606 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(150.899) |
(81.613) |
(145.279) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.01) |
(1.09) |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(6.07) |
(4.96) |
(12.65) |
|
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|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(6.59) |
(8.99) |
(20.43) |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.00) |
(0.74) |
(1.09) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
(0.16) |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.32 |
1.17 |
0.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.86 |
1.53 |
3.22 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
2085.368
|
2254.401
|
2092.822 |
|
Dues of Micro, Medium and Small Enterprises |
0.000 |
0.000 |
0.000 |
|
Others |
|
|
|
NOTE:
The registered office address of the company has been shifted from Essar
house, 11 K K Marg, Mahalaxmi, Mumbai – 400025, Maharashtra, India to present
w.e.f. 09.08.2010
Nature of Operations
Subject is engaged in the
business of providing of Passive Telecom Site Infrastructure Service termed as
''Infrastructure Service" to cellular mobile telephony operators and otter
licensed telecom operators in India- The Company is registered with Experiment
of Telecom, Ministry of Communications, Government of India as Infrastructure
Provider Category - I, (lP-I infrastructure provider) and is in the operation
and maintenance of wireless passive infrastructure assets ("passive
infrastructure) as well as the provision of related services to wireless
telecommunications operators in India.
Fixed assets:
· Tower and Infrastructure Assets
· Office Equipment
· Furniture and Fixtures
· Computer Software
form 8:-
|
Corporate
identity number of the company |
u72200mh2003ptc140799 |
|
Name of the
company |
ESSAR TELECOM
INFRASTRUCTURE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Essar House, P O
Box No.7945, Mahalaxmi, Mumbai 4000 34, |
|
This form is for |
Modification of
Charge |
|
Type of charge |
Book Debts Movable Property Others (Stock,
Movable, Plant, Machinery, etc) |
|
Particular of
charge holder |
Axis Bank Limited, |
|
Nature of
instrument creating charge |
Link Document Cum
Amendment Agreement for Realignment of Facilities dated 05.01.2010. |
|
Date of
instrument Creating the charge |
05.01.2010 |
|
Amount secured by
the charge |
Rs. 670.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: On CC BPLR-3.25% Commission BG
1.40% p.a. payable up front Other limits as
per Sanction Letter or as stipulated by Bank from time to time. Terms of Repayment: On demand Margin: On CC 25% on
B/Ds. (Cover period 90 days) and BG. 20% in form of cash Other limits as
per Sanction Letter or as stipulated by Bank from time to time. Extent and Operation of the charge: Bank
realigned limits aggregating to Rs.670
millions granted to CC Rs.200 millions BG Rs.470 millions *FCNR (B) (USD 3
Million) App.Rs.145.000 millions *LER Rs.10
millions *BG Rs.50
millions *by earmarking
existing CC limit. The security
created on current and fixed assets shall continue to secure the realigned
limits. |
|
Short particulars
of the property charged (Including location of the property) |
The
CC/FCNRB/LER/BG of Rs. 200 millions. secured by pari passu 1st charge on
present and future current and fixed assets of the Company viz. receivables,
P and M, Fur. and fixtures, office equipments etc. The BG of Rs.470
millions. secured by pari passu 1st charge on fixed assets and 2nd charge on
current assets viz. receivables, P and M, Fur. and fixtures, office
equipments etc. |
|
Date of
instrument modifying the charge |
04.01.2010 |
|
Particulars of
the present modification |
Vide this Modi, Bank
realigned limits aggregating to Rs.670 millions granted to CC Rs.200 millions BG Rs.470 millions *FCNR (B) (USD 3
Million) App.Rs.145 millions *LER Rs.10
millions *BG Rs.50
millions *by earmarking
existing CC limit. The security created
on current and fixed assets shall continue to secure the realigned limits. |
|
Corporate identity number of the company |
u72200mh2003ptc140799 |
|
Name of the company |
ESSAR TELECOM
INFRASTRUCTURE PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Essar House, P O
Box No.7945, Mahalaxmi, Mumbai 4000 34, |
|
This form is for |
Modification of charge |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of charge holder |
Axis Bank Limited |
|
Nature of instrument creating charge |
Supplemental Deed of Hypothecation (SDH)
Dated 31.07.2010 |
|
Date of instrument Creating the charge |
31/07/2010 |
|
Amount secured by the charge |
Rs.860.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest As per Sanction Letter or as Stipulated by
Bank from time to time. Terms of Repayment As per Sanction Letter or as Stipulated by
Bank from time to time. Margin As per Sanction Letter or as Stipulated by
Bank from time to time. Extent and Operation of the charge The credit facilities granted by the Bank enhanced
from Rs.670.000 Millions. to Rs.860.000 Millions to secure limits specified
in the SDH. The CC/BG (within CC) / FCNR(B) Loan (within CC)/ LER (within CC)
of Rs. 300.000 Millions secured by pari passu 1st charge on present and
future current assets & fixed assets of the Co. The BG ( in lieu of DSRA) limit of
Rs.560.000 Millions secured by
Subservient charge on the entire fixed assets of the company. |
|
Short particulars of the property charged |
CC/BG (within CC) / FCNR(B) Loan (within
CC)/ LER (within CC) of Rs. 300.000 Millions
secured by pari passu 1st charge on present and future current assets
& fixed assets of the Co. BG ( in lieu of DSRA) limit of Rs. 560.000
Millions secured by Subservient charge
on the entire fixed assets of the company |
|
Date of instrument modifying the charge |
05/01/2010 |
|
Particulars of the present modification |
Now vide this modification, credit
facilities granted by the Bank enhanced from Rs.670.000 Millions. to
Rs.860.000 Millions to secure limits specified in the SDH. The CC/BG (within CC) / FCNR(B) Loan
(within CC)/ LER (within CC) of Rs. 300.000 Millions secured by pari passu
1st charge on present and future current assets & fixed assets of the Co. The BG ( in lieu of DSRA) limit of
Rs.560.000 Millions secured by
Subservient charge on the entire fixed assets of the Company. |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.08 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.30 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
32 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.