|
Report Date : |
04.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
DEV INFORMATION TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
14, Aryan Corporate Park, Near Shilaj Crossing, Thaltej, Ahmedabad –
380015, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.12.1997 |
|
|
|
|
Com. Reg. No.: |
04-33479 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30000GJ1997PTC033479 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Information Technology Services |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitments. The company can be considered for business dealing at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
NSIC CRISIL
|
|
Rating |
SE 1B : NSIC CRISIL |
|
Rating Explanation |
Financial strength seem to be moderate and
performance capability is highest |
|
Date |
December 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non Co-operative (91-79-26304241)
LOCATIONS
|
Registered Office : |
14, Aryan Corporate Park, Near Shilaj Crossing, Thaltej, Ahmedabad –
380015, Gujarat, India |
|
Tel. No.: |
91-79-26308854 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Office : |
1717 Califaonia Ave, Windors, Onario, N9B 3T5 Canada |
|
Tel. No.: |
+1-586-925-5600 |
|
|
|
|
Regional Office : |
Located At : Jaipur, Mumbai
and Goa and In USA |
DIRECTORS
As on: 28.09.2011
|
Name : |
Mr. Pranav Niranjanbhai Pandya |
|
Designation : |
Director |
|
Address : |
B/82, Akash Flats, Opposite Premchandnagar, Judges Bunglows Road,
Bodakdev, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
15.03.1968 |
|
Date of Appointment : |
23.12.1997 |
|
DIN No.: |
00021744 |
|
|
|
|
Name : |
Mr. Jaiminbhai Jagdishbhai Shah |
|
Designation : |
Director |
|
Address : |
8, Satellite Society, Jodhpur Tekra, Near Central Bank of India,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
25.04.1973 |
|
Date of Appointment : |
23.12.1997 |
|
DIN No.: |
00021880 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Jaimin Jagdishbhai Shah |
|
100 |
|
Pranav Niranjanbhai Pandya |
|
100 |
|
Rakhi Jagdishbhai Shah |
|
50 |
|
Amisha Jaiminbhai Shah |
|
5000 |
|
Saryuben Mahendrabhai Shah |
|
5000 |
|
Jaimin Jagdishbhai Shah |
|
4300 |
|
Jayshree Jagdishbhai Shah |
|
2500 |
|
Kiran Jiteshkumar Shah |
|
2500 |
|
Manisha Mahendrabhai Shah |
|
2500 |
|
Hemant Suryakant. Shah |
|
5000 |
|
Pratimaben Mohanlal Dersai |
|
5000 |
|
Pranav Niranjanbhai Pandya |
|
2500 |
|
Kruti Pranavbhai Pandya |
|
5000 |
|
Maduriben Niranjan Pandya |
|
5000 |
|
Chetanbhai Desai |
|
5000 |
|
Jagdishbhai Chinubhai Shah |
|
50 |
|
Manisha Mahendrabhai Shah |
|
100 |
|
Urmilaben S. Parikh |
|
100 |
|
Niranjanaben Satishbhai Jambudi |
|
100 |
|
Rakhi Jagdishbhai Shah |
|
100 |
|
Total |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2011
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Information Technology Services |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· The Kalupur Commercial Co-Operative Bank Limited, S. M. Road Branch, Shivranjani Cross Road, Ahmedabad - 380015, Gujarat, India · HDFC Bank · Standard Charter Bank · Axis Bank Limited · State Bank of India · Karur Vysya Bank Limited |
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Milin J. Jani and Company Chartered Accountants |
|
Address : |
3rd Floor, Shital Varsha Arcade, C G Road, Ahmedabad – 380009,
Gujarat, India |
|
PAN No.: |
ABMPJ6309E |
|
|
|
|
Enterprises having
common Key Management Personnel and/or their Relatives: |
· Devna Commercial Complex Private Limited · Anjanj Infrastructure Private Limited · Anjani Softech Private Limited · Byte Technosys Private Limited ·
Xduce Infotech Private Limited |
CAPITAL STRUCTURE
As on: 28.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.500 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
45.928 |
37.016 |
28.768 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
46.428 |
37.516 |
29.268 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
43.287 |
4.579 |
8.932 |
|
|
2] Unsecured Loans |
8.632 |
8.041 |
1.521 |
|
|
TOTAL BORROWING |
51.919 |
12.620 |
10.453 |
|
|
DEFERRED TAX LIABILITIES |
0.915 |
0.435 |
0.186 |
|
|
|
|
|
|
|
|
TOTAL |
99.262 |
50.571 |
39.907 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.941 |
8.376 |
7.297 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.780 |
1.780 |
1.780 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.293
|
5.822 |
2.943 |
|
|
Sundry Debtors |
91.810
|
79.478 |
104.609 |
|
|
Cash & Bank Balances |
5.243
|
12.224 |
17.796 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
11.489
|
5.113 |
17.369 |
|
Total
Current Assets |
123.835
|
102.637 |
142.717 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
43.264
|
55.934 |
92.868 |
|
|
Other Current Liabilities |
24.392
|
5.040 |
4.716 |
|
|
Provisions |
5.638
|
1.248 |
14.303 |
|
Total
Current Liabilities |
73.294
|
62.222 |
111.887 |
|
|
Net Current Assets |
50.541
|
40.415 |
30.830 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
99.262 |
50.571 |
39.907 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
225.728 |
178.349 |
200.046 |
|
|
|
Other Income |
10.349 |
3.177 |
2.814 |
|
|
|
TOTAL (A) |
236.077 |
181.526 |
202.860 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost Of Sales and Services |
142.299 |
138.393 |
155.417 |
|
|
|
Increase / (Decrease) in Stock |
(9.471) |
(2.878) |
(0.955) |
|
|
|
Advertising Administrative and other Expenses |
79.670 |
28.442 |
29.127 |
|
|
|
TOTAL (B) |
212.498 |
163.957 |
183.589 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
23.579 |
17.569 |
19.271 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.429 |
2.298 |
1.688 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
17.150 |
15.271 |
17.583 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.882 |
1.440 |
1.108 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) |
15.268 |
13.831 |
16.475 |
|
|
|
|
|
|
|
|
|
Less/ Add |
PRIOR PERIOD ITEMS |
0.007 |
0.062 |
0.003 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.767 |
5.083 |
5.221 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
9.494 |
8.686 |
11.251 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.016 |
3.768 |
2.809 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
10.000 |
10.000 |
|
|
|
Dividend Distribution Tax |
0.082 |
0.063 |
0.042 |
|
|
|
Proposed Dividend |
0.500 |
0.375 |
0.250 |
|
|
BALANCE CARRIED
TO THE B/S |
0.928 |
2.016 |
3.768 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.583 |
0.969 |
0.000 |
|
|
TOTAL EARNINGS |
1.583 |
0.969 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
189.88 |
173.73 |
225.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.02 |
4.78 |
5.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.76 |
7.75 |
8.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.99 |
12.46 |
10.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.37 |
0.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.69 |
1.99 |
4.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69 |
1.65 |
1.27 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry
Creditors
(Rs in
millions)
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors for Material |
39.326 |
52.938 |
89.193 |
|
Sundry Creditors for Expenses |
3.938 |
2.996 |
3.675 |
|
Total |
43.263 |
55.934 |
92.868 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
The registered office of the company has been shifted from F/1, Janpath, Appartments, Ambawadi Ahmedabad – 380015, Gujarat, India to present address w.e.f. 01.06.2011
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U30000GJ1997PTC033479 |
|
Name of the
company |
DEV INFORMATION
TECHNOLOGY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
14,Aryan Corporate Park, Nr. Shilaj
Crossing, Thaltej, Ahmedabad – 380015, Gujarat, India |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10230871 |
|
Type of charge |
Book debts |
|
Particular of
charge holder |
The Kalupur Commercial Co-Op Bank Ltd, S. M. Road Branch, Shivranjani Cross Road, Ahmedabad - 380015, Gujarat, India |
|
Nature of
instrument creating charge |
Hypothecation of book debt agreement |
|
Date of
instrument Creating the charge |
18.04.2012 |
|
Amount secured by
the charge |
Rs. 15.000
Millions |
|
Brief of the principal
terms and conditions and extent and operation of the charge |
Rate of interest 13% Terms of repayment On demand review every year Margin 40% on book debts. Extent and
operation of the charge Bank has first and exclusive charge on book debt till the repayment of book debts facility of Rs. 15.000 Millions. |
|
Short particulars
of the property or assets charged (including complete address and location of
the property) |
· All the borrowers present and future, book outstanding money, receivables, claims, bills, contracts, engagements, securities, investments, rights and assets shall be hypothecated to the bank. · As mentioned in agreement. |
|
Particulars of the present modification |
Charge on book debt is enhanced from Rs. 6.000 Millions to 15.000 Millions. |
PROVISIONS AND
CONTINGENT LIABILITY:
A provision is recognized when there is a legal and constructive obligation as a result of a past event, for which it is probable that cash outflow will be required and a reliable estimate can be made of the amount of the obligation. A contingent liability is disclosed when there is a possible or present obligation where it is not probable that an outflow of resources will be required to settle it. Contingent assets are neither recognized nor disclosed.
FIXED ASSETS
· Office Building
· Furniture & Fixtures
· Refrigerator
· Office Equipment
· Projector
· Computers
· Air Conditioner
· Motor Cars
· Eterno Honda
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 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 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. 54.56 |
|
|
1 |
Rs. 87.46 |
|
Euro |
1 |
Rs. 71.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
44 |
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.