1. Summary Information
|
|
|
Country |
|
|
Company Name |
SUN DIRECT TV
PRIVATE LIMITED |
Principal Name 1 |
Mr. Kalanithi Maran |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Kavery Kalanithi |
|
|
|
Registration # |
18 – 55398 |
|
Street Address |
|
||
|
Established Date |
16.02.2005 |
SIC Code |
-- |
|
Telephone# |
91-44-43411434 |
Business Style 1 |
DIRECT – TO – HOME (DTH) SERVICE PROVIDER. |
|
Fax # |
91-44-43411010 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.3,952,567,140 |
Product Name 3 |
-- |
|
Shareholders |
FOREIGN HOLDINGS 20% DIRECTORS OR RELATIVES OF
DIRECTORS 80% |
Banking |
Indian Bank |
|
Public Limited Corp. |
NO |
Business Period |
6 Year |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (30) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2.191.983.000 |
Current Liabilities |
4,684,246,000 |
|
Inventories |
240,826,000 |
Long-term Liabilities |
8,259,616,000 |
|
Fixed Assets |
9,703,082,000 |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
12,943,862,000 |
|
Invest& other Assets |
1,924,447,000 |
Retained Earnings |
6,985,953,000 |
|
|
|
Net Worth |
1,116,476,000 |
|
Total Assets |
14060338 |
Total Liab. & Equity |
14,060,338,000 |
|
Total Assets (Previous Year) |
9,781,424,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
6,535,900,000 |
Net Profit |
(4,422,600,000) |
|
Sales(Previous yr) |
3,864,200,000 |
Net Profit(Prev.yr) |
(4,472,100,000) |
MIRA
INFORM REPORT
|
Report Date : |
08.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUN DIRECT TV PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.02.2005 |
|
|
|
|
Com. Reg. No.: |
18 – 55398 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3952.567 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92132TN2005PTC055398 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES23677D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS7671L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Direct – To – Home (DTH) Service Provider. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4460000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Sun TV Group. It is an established company having moderate track. Thee appears a
huge accumulated losses recorded by company. Profitability of the company is
under severe pressure. However, Trade relations are reported as fair. Business
is a active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
Not available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 22.09.2010
|
Name : |
Mr. Kalanithi Maran |
|
Designation : |
Director |
|
Address : |
4, |
|
Date of Birth/Age : |
24.07.1965 |
|
Date of Appointment : |
16.02.2005 |
|
DIN No.: |
00113886 |
|
|
|
|
Name : |
Mrs. Kavery Kalanithi |
|
Designation : |
Director |
|
Address : |
4, |
|
Date of Birth/Age : |
06.10.1969 |
|
Date of Appointment : |
16.02.2005 |
|
DIN No.: |
00113905 |
|
|
|
|
Name : |
Mr. Anil Kumar Yatrapati |
|
Designation : |
Additional Director |
|
Address : |
Flat No.4G, Vasanth Apartments, No.41, |
|
Date of Birth/Age : |
01.01.1966 |
|
Date of Appointment : |
04.12.2007 |
|
DIN No.: |
01890780 |
|
|
|
|
Name : |
Mr. Shiva Kumar Sembian Chezhian |
|
Designation : |
Additional Director |
|
Address : |
Door No. B 7, Parsan Apartments, |
|
Date of Birth/Age : |
08.04.1968 |
|
Date of Appointment : |
04.12.2007 |
|
DIN No.: |
01890688 |
|
|
|
|
Name : |
Mr. Sampath Kumaran Vitthal |
|
Designation : |
Additional Director |
|
Address : |
D – 2, Lyods Colony, |
|
Date of Birth/Age : |
06.11.1974 |
|
Date of Appointment : |
04.12.2007 |
|
DIN No.: |
01924540 |
|
|
|
|
Name : |
Mr. Ramesh Ravilla Manu Ranganthan |
|
Designation : |
Director |
|
Address : |
Plot No. 141, Senthamarai Kannan Salai, Venkaeshawara Nagar,
Kottivakkam, Chennai – 600041, |
|
Date of Birth/Age : |
04.12.1965 |
|
Date of Appointment : |
24.09.2009 |
|
DIN No.: |
00811887 |
|
|
|
|
Name : |
Mr. Kannappan Shanmugam |
|
Designation : |
Director |
|
Address : |
No. 12, |
|
Date of Birth/Age : |
28.03.1965 |
|
Date of Appointment : |
24.09.2009 |
|
DIN No.: |
00551319 |
|
|
|
|
Name : |
Mr. Mohamed Israth |
|
Designation : |
Director |
|
Address : |
17, |
|
Date of Birth/Age : |
11.04.1973 |
|
Date of Appointment : |
24.09.2009 |
|
DIN No.: |
00975387 |
|
|
|
|
Name : |
Mr. Raghvendra Madhav |
|
Designation : |
Director |
|
Address : |
A-154, New Friends Colony, |
|
Date of Birth/Age : |
26.05.1961 |
|
Date of Appointment : |
24.09.2009 |
|
DIN No.: |
00061101 |
|
|
|
|
Name : |
Mr. Augus Tus Ralph Marshall |
|
Designation : |
Director |
|
Address : |
Unit No.17, Impian Bukit Tunku No.8, Jalan Tunku, |
|
Date of Birth/Age : |
01.10.1951 |
|
Date of Appointment : |
15.11.2008 |
|
DIN No.: |
00281802 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
4-2, East Wing Wedgewood Residences 11, Jalan Duta Kiara, Bukit Kiara,
|
|
Date of Birth/Age : |
14.04.1962 |
|
Date of Appointment : |
15.11.2008 |
|
DIN No.: |
01652387 |
KEY EXECUTIVES
|
Name : |
Mr. G Arunmozhi |
|
Designation : |
Secretary |
|
Address : |
1/310, Mogappair West Chennai – 600037, |
|
Date of Birth/Age : |
24.05.1976 |
|
Date of Appointment : |
20.07.2009 |
|
|
|
|
Name : |
Mr. Anthony Vererian D’silva |
|
Designation : |
COO |
|
|
|
|
Name : |
Mr. S. M. Sundaram |
|
Designation : |
CFO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2010
|
Names of Shareholders |
No. of Shares |
No. of Shares |
|
Kalanithi Maran |
70580669 |
18% |
|
Kavery Kalanithi |
243111193 |
62% |
|
South Asia Entertainment Holdings Limited, |
78422964 |
20% |
|
|
|
|
|
Total |
392114826 |
100% |
Equity Share Break up (Percentage of Total Equity)
As on 22.09.2010
|
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 |
20.00 |
|
Directors or relatives of Directors |
80.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Direct – To – Home (DTH) Service Provider. |
|
|
|
|
|
|
Products : |
Item Code No. |
Service
Description |
|
-- |
Direct to home Service |
|
GENERAL INFORMATION
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Delotte Haskins and Sells Chartered Accountant |
|
Address : |
7th Floor, |
|
PAN.: |
AACFD3771D |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
Rs.10/- each |
Rs.6000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
376405388 |
Equity Shares |
Rs.10/- each |
Rs.3764.054 Millions |
|
|
|
|
|
After 22.09.2010
Authorised Capital : Rs.6000.000 Millions
Paid-up Capital : Rs.3952.567 Millions
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 |
3764.054 |
3449.865 |
1983.870 |
|
|
2] Share Application Money |
0.000 |
0.000 |
1170.030 |
|
|
3] Reserves & Surplus |
6985.953 |
4800.142 |
2760.358 |
|
|
4] (Accumulated Losses) |
(9633.531) |
(5210.900) |
(738.808) |
|
|
NETWORTH |
1116.476 |
3039.107 |
5175.450 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8259.616 |
1543.630 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
1012.931 |
0.000 |
|
|
TOTAL BORROWING |
8259.616 |
2556.561 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9376.092 |
5595.668 |
5175.450 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9703.082 |
7048.855 |
1786.276 |
|
|
Capital work-in-progress |
1924.447 |
939.208 |
399.080 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
240.826
|
341.805 |
132.151 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
148.975
|
180.048 |
3153.418 |
|
|
Other Current Assets |
0.000
|
0.000 |
23.199 |
|
|
Loans & Advances |
2043.008
|
1244.508 |
452.107 |
|
Total
Current Assets |
2432.809
|
1766.361 |
3760.875 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1198.299
|
1088.491 |
212.410 |
|
|
Other Current Liabilities |
2793.277
|
2761.875 |
557.105 |
|
|
Provisions |
692.670
|
308.390 |
1.266 |
|
Total
Current Liabilities |
4684.246
|
4158.756 |
770.781 |
|
|
Net Current Assets |
(2251.437)
|
(2392.395) |
2990.094 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9376.092 |
5595.668 |
5175.450 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6535.900 |
3864.200 |
506.700 |
|
|
|
Other Income |
43.600 |
152.300 |
104.900 |
|
|
|
TOTAL (A) |
6579.500 |
4016.500 |
611.600 |
|
|
|
|
|
|
|
|
Less |
OPERATING
EXPENSES |
8080.200 |
7557.700 |
1256.400 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
/LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(1500.700) |
(3541.200) |
(644.800) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
797.700 |
31.700 |
0.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(2298.400) |
(3572.900) |
645.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2124.200 |
890.900 |
86.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT /LOSS
BEFORE TAX (E-F) (G) |
(4422.600) |
(4463.800) |
(731.700) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
8.300 |
1.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT /LOSS
AFTER TAX (G-I) (J) |
(4422.600) |
(4472.100) |
(732.700) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(5210.900) |
(738.800) |
(6.100) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(9633.500) |
(5210.900) |
(738.800) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
5314.279 |
6692.954 |
1443.865 |
|
|
|
Components and spare parts |
1284.006 |
2032.629 |
534.347 |
|
|
|
Trade goods |
2.439 |
30.503 |
20.659 |
|
|
TOTAL IMPORTS |
6600.724 |
8756.086 |
1998.871 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(67.21)
|
(111.34)
|
(119.79)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(67.21)
|
(115.51)
|
(144.40)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.36)
|
(50.64)
|
(13.19)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(3.96)
|
(1.47)
|
(0.14)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.59
|
2.21
|
0.15
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.52
|
0.42
|
4.88
|
LOCAL AGENCY FURTHER INFORMATION
OPERATING RESULTS
The total income for the year ended 31st March 2010 registered a
significant growth of 164% at Rs.6579.500 Millions as against Rs.4016.500
Millions during the previous year ended 31st March 2009. The income from Sales
and Services during the year ended 31st March 2010 is Rs.6535.900 Millions
registering a growth of 169% as against Rs3864.200 Millions during the previous
year ended 31st March 2009. Other income includes interest on Fixed Deposits
and Carriage Fees. The operating expenses during the year ended 31st March 2010
is Rs8080.200 Millions as against Rs7557.700 Millions during the previous year
ended 31st March, 2009. The operating expenses has gone up by 7% over previous
year. EBITDA for the year
NOTE
The company changed its registered office from 367/369, Anna Salai,
Teynampet, Chennai – 600018, Tamilnadu, India” to “4/1017, 3RD Cross
Street, 9th Link, Nehru Nagar, Kotivakkam, Chennai – 600 041,
Tamilnadu, India” w.e.f. 21.01.2008. The Registered Office has again shifted
from “4/1017, 3RD Cross Street, 9th Link, Nehru Nagar,
Kotivakkam, Chennai – 600 041, Tamilnadu, India” to “Muurasoli Maran Towers
No.73, MRC Nagar Main Road, MRC Nagar, Chennai – 600028, India” w.e.f.
20.12.2010
FORM 8
|
Corporate
identity number of the company |
U92132TN2005PTC055398 |
|
Name of the
company |
SUN DIRECT TV
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Email Id : arunmozhi@sundirect.in |
|
This form is for |
Creation
of charge |
|
Type of charge |
Movable property |
|
Particular of
charge holder |
Indian Bank, 7, Email Id : tnagar@indianbank.co.in |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of movables |
|
Date of
instrument Creating the charge |
21.04.2011 |
|
Amount secured by
the charge |
Rs.1000.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate+TP 1.5%+2%
(13% fixed upto 15.11.2011) to be reset with linkage to BR related rates
thereafter for term loan and 0.30% flat rate for sub limit of LC(import/
inland DA/DP 180 days) Terms of Repayment repayable in 24
quarterly installments after holiday period of 2 years from the date of
disbursement Margin 50% Extent and operation of the charge subservient
charge of Rs.1000.000 millions on fixed assets worth Rs2000.000 Millions
located at the godowns and premises of the company and also at the customer
premises |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
subservient
charge of Rs.1000.000 millions on fixed assets worth Rs2000.000 Millions
located at the godowns and premises of the company and also at the customer
premises |
FIXED ASSETS
- Broad Casting
Equipments
- Customer
Premises Eqpmt-Set Top Boxes
- Electrical
Installation
- Computers
- Office
Equipments
- Furniture and
Fixtures
- Vehicles
- Leasehold
Improvements
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.46.68 |
|
|
1 |
Rs.76.61 |
|
Euro |
1 |
Rs.64.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
30 |
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.