MIRA
INFORM REPORT
|
Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
MILES SOFTWARE SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
311 Bussa Industrial Estate, Shanker Narampath Off S B Marg, Lower Parel
(West), Mumbai -400013, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
26.03.1999 |
|
|
|
|
Com. Reg. No.: |
119143 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.299 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH1999PTC119143 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM12956G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Development
and Supply of Software and Services |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1001864 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms an 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 DECLINED BY
|
Name : |
Mr. Rakesh S |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-22-66518400 |
|
Date : |
10.10.2011 |
LOCATIONS
|
Registered Office : |
311 Bussa Industrial Estate, Shanker Narampath Off S B Marg, Lower Parel
(West), Mumbai -400013, Maharashtra, India
|
|
Tel. No.: |
91-22-66168300 |
|
Fax No.: |
91-22-24970508 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
801/806, B Wing, Trade World, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66518400 |
|
Fax No.: |
91-22-24970508 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Milan Ganatra |
|
Designation : |
Director |
|
Address : |
1, Shyam Kunj, 86, Walkeshwar
Road, Mumbai - 400 006, Maharashtra, India |
|
Date of Birth/Age : |
12.02.1971 |
|
Date of Appointment : |
26.03.1999 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U72200MH1999PTC119143 |
MILES SOFTWARE SOLUTIONS
PRIVATE LIMITED |
Director |
26/03/1999 |
26/03/1999 |
- |
Active |
NO |
|
Name : |
Mr. Rama Ganatra |
|
Designation : |
Director |
|
Address : |
1, Shyam Kunj, 86,
Walkeshwar Road, Mumbai - 400 006, Maharashtra, India |
|
Date of Birth/Age : |
25.07.1939 |
|
Date of Appointment : |
26.03.1999 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U72200MH1999PTC119143 |
MILES SOFTWARE SOLUTIONS
PRIVATE LIMITED |
Director |
26/03/1999 |
26/03/1999 |
- |
Active |
NO |
|
Name : |
Mr. Mukul Gulati |
|
Designation : |
Director |
|
Address : |
65/ 41, West Punjabi Bagh,
New Delhi 110026, Delhi, India |
|
Date of Birth/Age : |
06.07.1973 |
|
Date of Appointment : |
12.05.2008 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U31300DL1994PTC060704 |
MAXOP ENGINEERING COMPANY
PRIVATE LIMITED |
Nominee director |
19/02/2006 |
19/02/2006 |
09/09/2011 |
Active |
NO |
|
2 |
U74140KA2006PTC038676 |
ZEPHYR PEACOCK MANAGEMENT
INDIA PRIVATE LIMITED |
Director |
06/03/2006 |
06/03/2006 |
- |
Active |
NO |
|
3 |
U80300DL1996PLC075185 |
WLC COLLEGE (INDIA)
LIMITED |
Nominee director |
25/06/2007 |
25/06/2007 |
- |
Active |
NO |
|
4 |
L27203DD1989PLC003240 |
TIME TECHNOPLAST LIMITED |
Alternate director |
31/07/2007 |
31/07/2007 |
10/06/2010 |
Active |
NO |
|
5 |
U72200MH1999PTC119143 |
MILES SOFTWARE SOLUTIONS
PRIVATE LIMITED |
Director |
12/05/2008 |
12/05/2008 |
- |
Active |
NO |
|
6 |
U74900KA2007PTC055316 |
ZP India Advisory Private
Limited |
Director |
13/09/2010 |
14/09/2009 |
- |
Active |
NO |
|
7 |
U64203GJ2004PTC045175 |
METRO WIRELESS ENGINEERING
(INDIA) PRIVATE LIMITED |
Director |
30/09/2010 |
04/08/2010 |
- |
Active |
NO |
|
8 |
U30000MH1995PLC091944 |
TRIMAX IT INFRASTRUCTURE
& SERVICES LIMITED |
Nominee director |
01/10/2010 |
01/10/2010 |
- |
Active |
NO |
|
9 |
U24239AP2005PTC048133 |
AIZANT DRUG RESEARCH
SOLUTIONS PRIVATE LIMITED |
Additional director |
17/12/2010 |
17/12/2010 |
- |
Active |
NO |
|
Name : |
Mr. Mukund Krishnaswami |
|
Designation : |
Director |
|
Address : |
101, E Shearwater Ct. Apt.
66, Jersey City, NJ 07305 USA |
|
Date of Birth/Age : |
11.06.1975 |
|
Date of Appointment : |
29.12.2008 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U15532KL1998PLC012576 |
IMPERIAL SPIRITS LIMITED |
Director |
04/07/2007 |
04/07/2007 |
- |
Active |
NO |
|
2 |
U74140MH2006PTC160158 |
Lighthouse Advisors
(India) Private Limited |
Additional director |
07/05/2008 |
07/05/2008 |
- |
Active |
NO |
|
3 |
L29309PN1991PLC063045 |
INNOVENTIVE INDUSTRIES
LIMITED |
Director |
29/11/2008 |
07/06/2008 |
04/08/2010 |
Active |
NO |
|
4 |
U92141MH2007PTC166998 |
WORDS INFOCOM Private
LIMITED. |
Nominee director |
29/09/2008 |
20/06/2008 |
27/12/2010 |
Active |
NO |
|
5 |
U72200MH1999PTC119143 |
MILES SOFTWARE SOLUTIONS
PRIVATE LIMITED |
Director |
29/12/2008 |
29/12/2008 |
- |
Active |
NO |
|
6 |
U74990MH2008PTC189076 |
Evergreen Hospitality
Private Limited |
Additional director |
12/03/2009 |
12/03/2009 |
31/03/2011 |
Active |
NO |
|
7 |
U74140MH1996PTC100860 |
CONCEPT HOSPITALITY
Private LIMITED |
Additional director |
13/07/2009 |
13/07/2009 |
31/03/2011 |
Active |
NO |
|
8 |
U74999DL1996PTC079004 |
IDISCOVERI EDUCATION
PRIVATE LIMITED |
Director |
14/07/2010 |
14/07/2010 |
- |
Active |
NO |
|
9 |
U99999MH1981PTC025958 |
BOMBAY CENTRAL HOLDINGS
AND TRADING CO PVT LTD |
Director |
16/09/2010 |
16/09/2010 |
- |
Active |
NO |
|
10 |
U67190MH2011PTC212008 |
OREO CAPITAL ADVISORS
PRIVATE LIMITED |
Director |
08/01/2011 |
08/01/2011 |
- |
Active |
NO |
|
Name : |
Mr. Dhawal Vasant Kamath |
|
Designation : |
Director |
|
Address : |
C-101, ICICI Apts, Lallubhai Park
Road, Andheri, Mumbai 400 058, Maharashtra, India |
|
Date of Birth/Age : |
08.02.1975 |
|
Date of Appointment : |
29.04.2009 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U72200MH1999PTC119143 |
MILES SOFTWARE SOLUTIONS
PRIVATE LIMITED |
Director |
29/04/2009 |
29/04/2009 |
- |
Active |
NO |
|
Name : |
Mr. Hemanshu Pramod Siria |
|
Designation : |
Director |
|
Address : |
C/102, Siddhivinayak
Apts, Haridas Nagar, Shimpoli Road, Borivali (W), Mumbai 400 092, Maharashtra,
India |
|
Date of Birth/Age : |
07.01.1977 |
|
Date of Appointment : |
29.04.2009 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U72200MH1999PTC119143 |
MILES SOFTWARE SOLUTIONS
PRIVATE LIMITED |
Director |
29/04/2009 |
29/04/2009 |
- |
Active |
NO |
|
Name : |
Mr. Stephen Edward Canter |
|
Designation : |
Director |
|
Address : |
71, East, 77th St. 6D, New
York, New York 10075 USA |
|
Date of Birth/Age : |
18.07.1945 |
|
Date of Appointment : |
12.05.2008 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U72200MH1999PTC119143 |
MILES SOFTWARE SOLUTIONS
PRIVATE LIMITED |
Additional director |
12/05/2008 |
12/05/2008 |
- |
Active |
NO |
|
2 |
U74900KA2007PTC055316 |
ZP India Advisory Private
Limited |
Director |
13/09/2010 |
09/10/2009 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh S |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Milan Ganatra |
|
52548 |
|
Rama Ganatra |
|
1796 |
|
Kruti Ganatra |
|
33592 |
|
Manharkant Ganatra |
|
796 |
|
Zephyr Peacock India, Mauritius |
|
1 |
|
India 2020 Limited, Mauritius |
|
1 |
|
Total |
|
88734 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Development
and Supply of Software and Services |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Urmil Shah Chartered Accountant |
|
Address : |
Vasaikar House, 296 Cadell Road, Dadar (W), Mumbai – 400028, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
107000 |
Equity Shares |
Rs.10/- each |
Rs.1.070 Millions |
|
430000 |
Participatory, Cumulative, Compulsorily Convertible Preference Shares |
Rs.1/- each |
Rs.0.430 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
88734 |
Equity Shares |
Rs.10/- each |
Rs.0.887
Million |
|
28170 |
Participatory, Cumulative, Compulsorily Convertible Preference Shares |
Rs.1/- each |
Rs.0.028 Million |
|
|
|
|
|
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 |
0.916 |
1.028 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
249.550 |
371.193 |
97.685 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
250.466 |
372.221 |
98.685 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.154 |
0.060 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
250.620 |
372.281 |
98.685 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.057 |
5.219 |
1.602 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
117.319 |
264.044 |
31.643 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
146.979
|
107.844 |
60.488 |
|
|
Cash & Bank Balances |
4.999
|
14.847 |
30.945 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
111.040
|
92.267 |
32.281 |
|
Total
Current Assets |
263.018
|
214.958 |
123.714 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.747
|
3.832 |
4.770 |
|
|
Other Current Liabilities |
42.702
|
23.937 |
6.216 |
|
|
Provisions |
90.325
|
84.171 |
47.290 |
|
Total
Current Liabilities |
135.774
|
111.940 |
58.276 |
|
|
Net Current Assets |
127.244
|
103.018 |
65.438 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
250.620 |
372.281 |
98.685 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
158.288 |
169.919 |
118.610 |
|
|
|
Other Income |
7.754 |
18.365 |
4.362 |
|
|
|
TOTAL (A) |
166.042 |
188.284 |
122.972 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Cost |
84.340 |
46.441 |
13.584 |
|
|
|
Operating Expenses |
25.283 |
14.604 |
4.180 |
|
|
|
Administrative and Other Expenses |
19.840 |
16.241 |
7.231 |
|
|
|
Marketing and Selling Expenses |
2.348 |
3.114 |
4.714 |
|
|
|
TOTAL (B) |
131.811 |
80.400 |
29.709 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.231 |
107.884 |
93.263 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.231 |
107.884 |
93.263 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.339 |
1.689 |
1.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
31.892 |
106.195 |
92.184 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
6.646 |
37.387 |
30.674 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
25.246 |
68.808 |
61.510 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
166.493 |
97.685 |
36.175 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.571 |
0.000 |
0.000 |
|
|
|
Transfer to Capital Redemption Reserve |
0.113 |
0.000 |
0.000 |
|
|
|
Interim Dividend Paid |
57.266 |
0.000 |
0.000 |
|
|
|
Dividend Distribution Tax Paid |
9.732 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
122.056 |
166.493 |
97.685 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
15.20
|
36.54 |
50.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.14
|
62.50 |
77.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.85
|
48.23 |
73.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.28 |
0.93 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.54
|
0.30 |
0.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94
|
1.92 |
2.12 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
2.747
|
3.832 |
4.770 |
Operations and
Future Outlook
With the stock market on improving trend, the outlook of the business of
the company is good. The current order position of the Company is also very
healthy.
FIXED ASSETS:
·
Air Conditioners
·
Computer Systems
·
Furniture & Fixtures
·
Mobile Instruments
·
Office Equipment
·
Electrical Installation
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.49.07 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.16 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--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.