MIRA
INFORM REPORT
|
Report Date : |
07.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE INFRATEL LIMITED (w. e. f. 04.01.2008) |
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Formerly Known
As : |
RELIANCE COMMUNICATIONS RAJASTHAN LIMITED (w.e.f. 18.06.2004) RELIANCE COMMUNICATIONS RAJASTHAN PRIVATE LIMITED |
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Registered
Office : |
H Block, 1st Floor, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
16.04.2001 |
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Com. Reg. No.: |
11-131598 |
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Capital
Investment / Paid-up Capital : |
Rs.28331.419
Millions |
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CIN No.: [Company Identification
No.] |
U72900MH2001PLC131598 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR21559G |
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PAN No.: [Permanent Account No.] |
AACCR0181Q |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Providing Wireless Communication Services. |
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No. of Employees
: |
Not Divulged by the management |
RATING & COMMENTS
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MIRA’s Rating : |
A (68) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 289000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of reliance The company can be considered good for normal business dealings at
usual trade terms and 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
Management Non Co-operative.
LOCATIONS
|
Registered Office : |
H Block, 1st Floor, |
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Tel. No.: |
91-22-30386286 |
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Fax No.: |
91-22-30376622 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Anil Dhirubhai Ambani |
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Designation : |
Director |
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Address : |
39, Sea Wind, Cuffe Parade, Colaba, Mumbai - 400 005, |
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Date of Birth/Age : |
04.06.1959 |
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Date of Appointment : |
18.06.2007 |
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DIN No.: |
00004878 |
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Name : |
Mr. Satya Pal Talwar |
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Designation : |
Director |
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Address : |
163, |
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Date of Birth/Age : |
14.06.1939 |
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Date of Appointment : |
18.06.2007 |
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DIN No.: |
00059681 |
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Name : |
Mr. Raj Narain Bhardwaj |
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Designation : |
Director |
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Address : |
402, Moksh Apartments, Upper Govind Nagar, Malad East, Mumbai 400097, |
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Date of Birth/Age : |
08.05.1947 |
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Date of Appointment : |
19.09.2009 |
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DIN No.: |
01571764 |
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Name : |
Mr. Syed Mohammed Aun Safawi |
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Designation : |
Director |
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Address : |
1801, Evita Co-operative Housing Society Limited, Central Avenue,
Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
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Date of Birth/Age : |
11.10.1964 |
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Date of Appointment : |
28.05.2011 |
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DIN No.: |
02993292 |
KEY EXECUTIVES
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Name : |
Mr. Anil Chandulal Shah |
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Designation : |
Company Secretary |
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Address : |
6, Reliance Bill Collection Center, Near Ambedkar Garden, Road No. 18,
Chembur East, Mumbai – 400071, |
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Date of Birth/Age : |
24.04.1963 |
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Date of Appointment : |
30.05.2007 |
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PAN no.: |
AHBPS7964F |
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Name : |
Mr. Anil Chandulal Shah |
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Designation : |
Manager |
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Address : |
6, Reliance Bill Collection Center, Near Ambedkar Garden, Road No. 18,
Chembur East, Mumbai – 400071, |
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Date of Birth/Age : |
24.04.1963 |
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Date of Appointment : |
01.04.2011 |
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PAN no.: |
AHBPS7964F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares (Equity) |
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Reliance ADA Group Trustees Private Limited, India |
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14004200 |
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Reliance Communications Limited, |
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70 |
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Reliance Globalcom B. V., The |
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279314188 |
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Anil C. Shah Jointly with Reliance Communications Infrastructure Limited,
India |
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1 |
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Prakash Shenoy Jointly with Reliance Communications Infrastructure
Limited, India |
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1 |
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Reliance Telecom infrastructure ( |
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133750582 |
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Reliance Communications Infrastructure Limited, India |
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2226415712 |
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares (Preference) |
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Reliance
Communications Limited, India |
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40000000 |
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Total |
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40000000 |
AS ON 30.09.2011
Equity Share Breakup
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Category |
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Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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19.79 |
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Bodies
corporate |
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80.21 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Wireless Communication Services. |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the management |
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Bankers : |
Barclays Bank, London |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
· Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound,
Pandurang Budhkar Marg, Worli, Mumbai – 400025, Maharashtra, India |
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Auditors : |
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Name : |
Chaturvedi and Shah Chartered Accountants |
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Address : |
912-913, Tulsiani Chambers, 212 Nariman Point, Mumbai – 400021,
Maharashtra, India |
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PAN No.: |
AAAFC0662N |
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Statutory
Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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PAN No.: |
AAAFB9852F |
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Holding Company : |
· Reliance Communications Infrastructure Limited, India CIN No.: U64203MH1997PLC166329 |
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Ultimate Holding
Company: |
· Reliance Communications Limited, India |
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Subsidiary : |
· Netizen Rajasthan Limited CIN No.: U45400MH2000PLC128387 · Reliance Global IDC Limited (Merged with the company with effect from 01st January 2011) CIN No.: U72900MH2000PLC128386 |
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Fellow
Subsidiary : |
·
Reliance Webstores Limited ·
Reliance Telecom Limited ·
Reliance Infocomm Infrastructure Private Limited ·
Reliance Global BV ·
Reliance Telecom Infrastructure (Cyprus) Holding
Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000000 |
Equity Shares |
Rs.10/- Each |
Rs.75000.000 millions |
|
500000000 |
Preference Shares |
Rs.10/- Each |
Rs.5000.000 millions |
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Total |
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Rs.80000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2793141868 |
Equity Shares |
Rs.10/- Each |
Rs.27931.419
millions |
|
40000000 |
Preference Shares |
Rs.10/- Each |
Rs.400.000
millions |
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Total |
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Rs.28331.419 millions |
NOTES:
1. As at 31st
March, 2011, out of the above Equity Shares:
a. 2226415796
Equity Shares of the Company are held by the Holding Company, Reliance
Communications Infrastructure Limited and its nominees.
b. 413064770
Equity Shares are held by subsidiaries of Reliance Communications Limited,
Ultimate Holding Company.
2. Out of the
above Equity Shares, 100010000 were allotted, as fully paid up, pursuant to the
Scheme of Amalgamation between Reliance Next Generation Technology Private
Limited and the Company without payment being received in cash.
3. Out of the
above Equity Shares, 997550667 Equity Shares of Rs.10 each fully paid issued as
Bonus shares in proportion of 5 Equity Shares for every 2 Equity Shares of
Rs.10 each by capitalisation of Share Premium amounting to Rs. 9975.500
Millions allotted on 19th September 2009.
4. On 5th
September, 2009, the Company allotted 150 00 000 8% Redeemable Non Cumulative
Non Convertible Preference Shares of Rs.10 each at a premium of Rs.990 per
share aggregating Rs.15000.000 Millions to Reliance Communications Limited .
5. During the year
2010-11, the following changes have been effected to the Share Capital.
a. On 30th October
2010, Authorised Share Capital of the Company has increased from Rs.25000.000
Millions to Rs.80000.000 Millions comprising of 500.000 Millions Preference
Shares of Rs.10 each and 7500.000 Millions Equity Shares of Rs.10 each.
b. On 8th
November, 2010, the Company allotted 250 00 000 8% Redeemable Non Cumulative
Non Convertible Preference Shares of Rs.10 each at a premium of Rs.990 per
share aggregating Rs.25000.000 Millions to Reliance Communications Limited.
c. 1396570934
Equity Shares of Rs.10 each fully paid issued as Bonus shares in proportion of
1 Equity Share for every 1 Equity Share of Rs. 10 each by capitalisation of
Share Premium amounting to Rs.13965.700 Millions allotted on 11th November,
2010.
6. The Redeemable
Preference Shares (RPS) shall be redeemed at the end of 20 years from the date
of allotment, at 8.85% yield per annum on face value plus premium paid at the
time of application. However, if dividend has been paid in any year same will
be reduced while calculating 8.85% yield p.a. at the time of redemption. At the
option of holders of Preference Shares, the Preference Shares can be redeemed,
at 8.85% yield p.a. on face value plus premium paid at the time of application,
any time after the date of allotment by giving not less than 3 months advance
request to the Company.
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 |
28331.400 |
14115.700 |
3990.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
44130.200 |
37526.500 |
36377.700 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
72461.600 |
51642.200 |
40367.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
37905.800 |
0.000 |
0.000 |
|
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2] Unsecured Loans |
78869.800 |
112501.200 |
151612.900 |
|
|
TOTAL BORROWING |
116775.600 |
112501.200 |
151612.900 |
|
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DEFERRED TAX LIABILITIES |
3668.000 |
731.900 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
192905.200 |
164875.300 |
191980.800 |
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|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
109895.800 |
131145.000 |
147513.300 |
|
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Capital work-in-progress |
24493.500 |
23854.100 |
38065.200 |
|
|
|
|
|
|
|
|
INVESTMENT |
10000.500 |
1.000 |
0.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
282.100
|
356.300
|
449.800
|
|
|
Sundry Debtors |
4932.100
|
1686.800
|
6198.900
|
|
|
Cash & Bank Balances |
780.200
|
29.000
|
1538.300
|
|
|
Other Current Assets |
32.900
|
0.600
|
8930.600
|
|
|
Loans & Advances |
23242.900
|
16151.100
|
4917.500
|
|
Total
Current Assets |
29270.200
|
18223.800 |
22035.100
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
8967.900 |
25428.300 |
14000.400
|
|
|
Other Current Liabilities |
3296.900
|
3140.100
|
1632.300
|
|
|
Provisions |
0.000
|
0.200
|
0.200
|
|
Total
Current Liabilities |
12264.800
|
28568.600 |
15632.900
|
|
|
Net Current Assets |
17005.400
|
(10344.800) |
6402.200
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
31510.000 |
20220.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
192905.200 |
164875.300 |
191980.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
66584.000 |
62765.200 |
49198.100 |
|
|
|
Other Income |
154.100 |
2.200 |
141.900 |
|
|
|
TOTAL (A) |
66738.100 |
62767.400 |
49340.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Service Costs |
21034.600 |
23450.300 |
|
|
|
|
Employee Related Expenses |
873.700 |
245.000 |
|
|
|
|
Administrative, Selling, Other Expenses |
398.400 |
8541.800 |
15537.900 |
|
|
|
TOTAL
(B) |
22306.700 |
32237.100 |
15537.900 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
44431.400 |
30530.300 |
33802.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10761.100 |
3064.400 |
1293.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
33670.300 |
27465.900 |
32508.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22472.000 |
17678.200 |
16654.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
11198.300 |
9787.700 |
15854.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2936.100 |
731.900 |
(1002.800) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8262.200 |
9055.800 |
16857.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
29119.000 |
20063.200 |
3206.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20000.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
17381.200 |
29119.000 |
20063.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Interest |
NA |
0.000 |
3.800 |
|
|
|
Dividend |
NA |
0.000 |
138.900 |
|
|
TOTAL EARNINGS |
NA |
0.000 |
142.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
585.800 |
9892.700 |
|
|
TOTAL IMPORTS |
NA |
585.800 |
9892.700 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.96 |
3.24 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
12.38
|
14.43 |
34.17
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.82
|
15.59 |
39.47
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.05
|
6.55 |
9.35
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.19 |
0.39
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.78
|
2.73 |
4.14
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39
|
0.64 |
1.41
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors
|
|
|
|
|
-
Creditors
dues Small Micro Enterprises |
348.800 |
947.700 |
591.000 |
|
-
Creditors Due Others |
8619.100 |
24480.600 |
13409.400 |
|
|
|
|
|
|
Total |
8967.900 |
25428.300 |
14000.400 |
OPERATIONS
The Company, in
the fourth year of full operations, has registered an increase of 6% in total
income to Rs.66738.100 Millions against
Rs. 62767.400 Millions in the previous year. The profit after tax stands at Rs.
8262.200 Millions against Rs. 9055.800 Millions during the previous financial
year.
The Company is a
leading passive telecommunication infrastructure provider in India, based on
the number of telecommunication towers that it owns. The Company builds, owns
and operates telecommunication towers and related assets at designated sites
and provides these passive telecommunication infrastructure assets on a shared
basis to wireless service providers and other communications service providers
under long-term contracts. These customers use the space on the
telecommunication towers to install their active communication related
equipment to operate their wireless communications networks.
The demand of the
Indian market coupled with the emergence of new technologies will be the key
driver for the Company. Entry of new mobile operators will be proved beneficial
to the Company. Our portfolio of towers is one of the youngest portfolio with
an average age of 4 years. All existing towers are designed to handle upto 4
tenants without any further capital expenditure and upto 7 tenants with
relatively minimal incremental capex.
The Company has
entered into various contracts in the areas of passive telecommunication
infrastructure service businesses. While benefits from such contracts will accrue
in the future years, their progress is periodically reviewed.
CHANGES IN CAPITAL
STRUCTURE
During the year,
pursuant to the approval received from the members, the Company had increased
its Authorized Share Capital from Rs. 25000.000 Millions to Rs.80000.000
Millions with effect from 30th October, 2010. Also, the Company had issued and
allotted 2,50,00,000, 8% Redeemable Non convertible Preference shares of
Rs.10/- each at a premium of Rs.990/- per preference shares to Reliance
Communications Limited, holding company.
ISSUE OF BONUS
EQUITY SHARES
The Company had further allotted Bonus Equity Shares in the ratio of 1:1
(one for one) out of Securities Premium Account to the tune of Rs.1,3965.700
Millions as per the approval at Extraordinary General Meeting held on 30th
October, 2010.
PRESS RELEASE
RCOM shareholders approve scheme of arrangement for
demerger of fiber optice division
Scheme of arrangement for demerger of optic fiber
division of Reliance Communications Limited to Reliance Infratel Limited
approved by the shareholders of RCOM
Mumbai, May 26, 2009: The Equity shareholders of Reliance Communications Limited (RCOM) at their Meeting convened as per the Order of the Hon'ble High Court of Judicature at Bombay, held on 26th May, 2009, have approved the Scheme of Arrangement (Scheme) between RCOM and Reliance Infratel Limited for demerger of the Optic Fiber Division of RCOM to Reliance Infratel Limited under Sections 391 to 394 of the Companies Act, 1956, with the requisite majority. Reliance Infratel is the Subsidiary of RCOM.
The demerger of Optic Fiber Division of RCOM would benefit the respective
companies and the stakeholders on account of:
a) Reduced set-up and operating costs resulting in cost efficiency coupled with
a greater financial flexibility;
b) Segregation of the business of providing telecommunication services and the
business of providing Infrastructure on a consolidated basis, thereby enabling
each of the companies to concentrate on its core business activities;
c) Promote high valued standalone business by conversion of cost-centric assets
to revenue-centric ones by sharing of the Infrastructure of Reliance Infratel
Limited with other wireless service providers operating in the same field.
The said Scheme is now subject to requisite approvals and sanctions, inter-alia
of Hon/ble High Court of Judicature at Bombay.
About
Reliance Communications
Reliance Communications Limited founded by the late Mr. Dhirubhai H Ambani (1932-
2002) is the flagship company of the Reliance Anil Dhirubhai Ambani Group. The
Reliance Anil Dhirubhai Ambani Group currently has market capitalization of
around Rs 1650000.000 Millions (US$ 35.1
Bn), net worth in excess of Rs 640000.000 Millions (US$ 13.6 Bn), operating
cash flow of Rs 130000.000 Millions (US$ 2.8 Bn) and net profit of around
Rs.84000.000 Millions (US$ 1.8 Bn).
Reliance Communications is India's foremost and truly integrated
telecommunications service provider. The Company, with a customer base of over
77 million including over 2 million individual overseas retail customers, ranks
among the Top 10 Telecom companies in the world by number of customers in a
single country. Reliance Communications corporate clientele includes 2,100 Indian
and multinational corporations, and over 800 global, regional and domestic
carriers.
Reliance Communications has established a pan-India, next generation,
integrated (wireless and wireline), convergent (voice, data and video) digital
network that is capable of supporting best-of-class services spanning the
entire communications value chain, covering over 20,000 towns and 450,000
villages. Reliance Communications owns and operates the world's largest next
generation IP enabled connectivity infrastructure, comprising over 175,000
kilometers of fibre optic cable systems in India, USA, Europe, Middle East and
the Asia Pacific region.
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.52.78 |
|
|
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.67.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
68 |
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.