MIRA
INFORM REPORT
|
Report Date : |
09.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ELECTRACARD SERVICES PRIVATE LIMITED |
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Registered
Office : |
1st Floor, Building No. 4, Commerzone, Samrat Ashok Path, Yerwada,
Pune – 411006, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.03.2000 |
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Com. Reg. No.: |
11-014585 |
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Capital
Investment / Paid-up Capital : |
Rs.11.057 Millions |
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|
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CIN No.: [Company Identification
No.] |
U72200PN2000PTC014585 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company provides third party processing services and solutions for
credit, debit and prepaid cards, EFT switching and internet payments gateway
solutions to Banks |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1500000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company is under pressure. There appears some accumulated losses
recorded by the company. However, trade relations are reported as fair.
Business is 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office / Corporate Headquarters : |
1st Floor, Building No. 4, Commerzone, Samrat Ashok Path, Yerwada,
Pune – 411006, Maharashtra, India |
|
Tel. No.: |
91-20-66272100/ 30925100 |
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Fax No.: |
91–20-30925399 |
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E-Mail : |
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Website : |
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Corporate Headquarters 1 : |
A Wing, Vilco Centre, 8 Subhash Road, Near Garware
House, Opposite Hotel Planet Residency, Vile Parle (East), Mumbai - 400 057, Maharashtra, India |
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Tel. No.: |
91-22-67896800 |
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Fax No.: |
91-22-67896829 |
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Corporate Office : |
Sterling Towers, 2nd and 3rd Floor, Bldg No. 327,
Annasalai, Mount Road, Teynampet ,Chennai - 600 006, Tamil Nadu, India |
|
Tel. No.: |
91-44-42297600 |
|
Fax No.: |
91-44-26612546 |
DIRECTORS
As on 21.09.2011
|
Name : |
Mr. Madhusudan Nagarur Gopinath |
|
Designation : |
Whole-time director |
|
Address : |
C-62, Sunder Apartment, Opposite Diamond, Sion Trombay Road, Mumbai –
400071, Maharashtra, India |
|
Date of Birth/Age : |
17.07.1959 |
|
Date of Appointment : |
23.08.2008 |
|
DIN No.: |
00028272 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U72200MH1997PTC107600 |
Opus
Software Solutions Private Limited |
Director |
28-04-97 |
28-04-97 |
Active |
NO |
|
2 |
U72200PN2000PTC014585 |
Electracard
Services Private Limited |
Whole-time
director |
21-07-10 |
23-08-08 |
Active |
NO |
|
Name : |
Mr. Ramesh Laxman Mengawade |
|
Designation : |
Managing director |
|
Address : |
Bungalow 12, Kapil Malhar, Baner, Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
25.03.1961 |
|
Date of Appointment : |
10.03.2000 |
|
DIN No.: |
00028319 |
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 |
U72200MH1997PTC107600 |
Opus
Software Solutions Private Limited |
Managing
director |
28-04-97 |
28-04-97 |
- |
Active |
NO |
|
2 |
U72100TN2000PTC044248 |
Shebz
Dot Com Private Limited |
Director |
25-02-00 |
25-02-00 |
17-03-10 |
Active |
NO |
|
3 |
U72200PN2000PTC014585 |
Electracard
Services Private Limited |
Managing
director |
27-08-10 |
10-03-00 |
- |
Active |
NO |
|
4 |
U72200PN2012PTC141843 |
Electranet
Payments Private Limited |
Director |
04-01-12 |
04-01-12 |
- |
Active |
NO |
|
Name : |
Mr. Prashant Laxman Mengawade |
|
Designation : |
Whole-time director |
|
Address : |
C-104, Mantri Kinara, Bhaupatil Road, Bopodi, Pune – 411003,
Maharashtra, India |
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Date of Birth/Age : |
04.01.1973 |
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Date of Appointment : |
23.08.2008 |
|
DIN No.: |
01843314 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U72200MH1997PTC107600 |
Opus
Software Solutions Private Limited |
Whole-time
director |
28-09-07 |
02-10-06 |
Active |
NO |
|
2 |
U72200PN2000PTC014585 |
Electracard
Services Private Limited |
Whole-time
director |
21-07-10 |
23-08-08 |
Active |
NO |
|
Name : |
Mr. Kanwarpal Singh Bindra |
|
Designation : |
Director |
|
Address : |
A-12, Geetanjali Enclave, New Delhi – 110017, India |
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Date of Birth/Age : |
18.07.1964 |
|
Date of Appointment : |
17.11.2010 |
|
DIN No.: |
01921245 |
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 |
L63040DL1985PLC021324 |
GE Capital
Transportation Financial Services Limited |
Managing
director |
30-11-07 |
30-11-07 |
- |
Amalgamated |
NO |
|
2 |
U74140DL1998PTC094577 |
GE
Capital Business Process Management Services Private Limited |
Additional
director |
26-11-08 |
26-11-08 |
20-04-09 |
Active |
NO |
|
3 |
U72200PN2000PTC014585 |
ElectraCard
Services Private Limited |
Director |
17-11-10 |
17-11-10 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
MasterCard Asia pacific Pte Limited, Singapore |
|
150157 |
|
Opus Software Solutions Private Limited, India |
|
955548 |
|
Total |
|
1105705 |
Equity Share Break up (Percentage of Total Equity)
As on 21.09.2011
|
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 |
13.58 |
|
Bodies corporate |
86.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company provides third party processing services and solutions for
credit, debit and prepaid cards, EFT switching and internet payments gateway
solutions to Banks |
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Services : |
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GENERAL INFORMATION
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Customers : |
Asia - Pacific ·
Corporation Bank, Mlr ·
Dena Bank, Mumbai ·
Catholic Syrian Bank, Cochin ·
Central Bank of India, Mumbai ·
Allahabad Bank, Kolkota ·
IDBI Bank, Mumbai ·
United Western Bank, Pune ·
ICICI Bank, Mumbai ·
RBI/IDRBT, Hyderabad ·
Cosmos Bank, Pune ·
Dhanalakshi Bank, Thrissur ·
Deutsche Bank, Mumbai ·
Bank of Baroda, Mumbai ·
Bank of Rajasthan, Mumbai ·
Laxmi Bank, Nepal ·
Nepal Invesment Bank, Nepal ·
Global Bank, Nepal ·
Banco San Juan, PHIL ·
PHIL Postal Savings Bank ·
PHIL Veterans Bank ·
Planters Development Bank, PHIL ·
Asia Commercial Bank, Vietnam ·
Phoung Nam Bank, Vietnam ·
Acleda Bank, Cambodia ·
BNP, Indonesia ·
AFB, Malaysia (Islamic Bank) ·
FTB, Cambodia ·
FPT Bank, Vietnam ·
CSI, Vietnam EMEA ·
CFC Bank, Kenya ·
HFCU, Uganda ·
Prime Bank, Kenya ·
Imperial Bank, Kenya ·
Southern Credit Banking Corporation, Kenya ·
First Merchant Bank, Malawi ·
Bank Melli Iran, UAE ·
Equity Bank, Nairobi ·
Orient Bank, Uganda ·
Crane Bank, Uganda ·
Bank Sadarat Iran, Qatar ·
Invest Bank, UAE ·
I and M, Kenya ·
Ecobank, Ghana ·
Mtranzact Kenya ·
Union Bank, Nigeria NORTH AMERICA ·
Transend, Mason, Ohio ·
Debitran, Atlanta ·
Forex, Atlanta |
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No. of Employees : |
Not Available |
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Bankers : |
·
Axis Bank Limited, 1262/B, Sterling Plaza, Jangli
Maharaj Road, Deccan Gymkhana, Pune - 411004, Maharashtra, India ·
Corporation Bank, Industrial Finance Branch, 14,
Pune Mumbai Road,Wakdeadi, Pune – 411003, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
BBSR and Company Chartered Accountants |
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Address : |
703,7th Floor, Godrej Castlemaine, Next To Ruby Hall Clinic, Bund
Garden Road, Pune – 411001, Maharashtra, India |
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PAN.: |
AAKFB4397F |
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Holding Company : |
Opus Software Solutions Private Limited CIN No.: U72200MH1997PTC107600 |
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Subsidiaries : |
Electracard Service Inc. |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1105705 |
Equity Shares |
Rs.10/- each |
Rs.11.057
Millions |
|
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|
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|
Note:
955548 (2010 : 85757 shares) equity shares are
geld by Opus Software Solution Private Limited the holding company
-
Out of above 75757 (2010
: 75757) Shares were issued for consideration other than cash pursuant to a
business transfer agreement entered on 22nd September 2008.
-
Further out of the above 868680
(2010 : Nil) Shares are allotted as fully paid up by the way of Bonus shares
during the year.
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 |
11.057 |
0.869 |
0.869 |
|
|
2] Stock Option Outstanding Amount |
61.366 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
455.082 |
101.485 |
15.773 |
|
|
4] (Accumulated Losses) |
(143.920) |
(41.315) |
0.000 |
|
|
NETWORTH |
383.585 |
61.039 |
16.642 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
43.840 |
5.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
60.509 |
|
|
TOTAL BORROWING |
43.840 |
5.000 |
60.509 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
427.425 |
66.039 |
77.151 |
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
42.305 |
37.882 |
26.105 |
|
|
Capital work-in-progress |
0.000 |
10.929 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.153 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
4.864 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
143.948
|
67.901 |
82.452 |
|
|
Cash & Bank Balances |
188.362
|
6.910 |
3.886 |
|
|
Other Current Assets |
107.230
|
13.033 |
25.928 |
|
|
Loans & Advances |
59.873
|
26.619 |
0.583 |
|
Total
Current Assets |
499.413
|
114.463 |
112.849 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
74.511
|
62.866 |
17.546 |
|
|
Other Current Liabilities |
33.191
|
32.081 |
19.581 |
|
|
Provisions |
12.608
|
2.303 |
24.694 |
|
Total
Current Liabilities |
120.310
|
97.250 |
61.821 |
|
|
Net Current Assets |
379.103
|
17.213 |
51.028 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.015 |
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
427.425 |
66.039 |
77.151 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
544.221 |
414.858 |
|
|
|
|
Other Income |
9.043 |
3.998 |
|
|
|
|
TOTAL (A) |
553.264 |
418.856 |
266.133 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Expenditure |
660.174 |
345.721 |
215.018 |
|
|
|
TOTAL (B) |
660.174 |
345.721 |
215.018 |
|
|
|
|
|
|
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(78.436) |
73.135 |
51.115 |
|
|
|
|
|
|
|
|
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|
FINANCIAL
EXPENSES (D) |
4.766 |
6.619 |
0.049 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(83.202) |
66.516 |
51.066 |
|
|
|
|
|
|
|
|
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|
DEPRECIATION/
AMORTISATION (F) |
23.709 |
13.591 |
8.669 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(106.911) |
52.925 |
42.397 |
|
|
|
|
|
|
|
|
|
|
TAX (I) |
(4.306) |
8.528 |
5.400 |
|
|
|
|
|
|
|
|
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|
PROFIT / (LOSS)
AFTER TAX (G-I) (J) |
(102.605) |
44.397 |
36.997 |
|
|
|
|
|
|
|
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|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(41.315) |
(85.712) |
(122.709) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(143.920) |
(41.315) |
(85.712) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Software License |
118.356 |
21.318 |
|
|
|
|
Sale of Services -
Maintenance -
Installation and Professional Services -
Processing
|
32.509 99.365 12.145 |
32.385 27.803 1.140 |
|
|
|
TOTAL EARNINGS |
262.375 |
82.646 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(92.80) |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(18.55)
|
10.60 |
13.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(19.32)
|
12.64 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.74)
|
34.74 |
30.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.28)
|
0.87 |
2.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.43
|
1.68 |
7.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.15
|
1.18 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
Background:
Subject was incorporated on 10
March 2000 and started its operation of processing from June 2006. The company is
subsidiary of the Opus Software Private Limited (Opus) and was established with
the objective to segregate the business of software products from other
software business of Opus. The company has acquired “Product Business” from
other software business transfer agreement dated 22 September 2008.
The company provides third party processing services and solutions for
credit, debit and prepaid cards, EFT switching and internet payments gateway
solutions to Banks. The company has suite of products with an IPR under name of
‘electra’. The Company gives its customers to choice and flexibility to either
license the electra product suite or benefit through an end-to-end hosted
solution.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U72200PN2000PTC014585 |
|
Name of the company |
ELECTRACARD SERVICES PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
1st Floor, Building No. 4, Commerzone, Samrat Ashok Path, Yerwada,
Pune – 411006, Maharashtra, India E-mail : sakharam.kumbhar@opussoft.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10232723 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of charge holder |
Corporation Bank, Industrial Finance Branch, 14, Pune Mumbai
Road,Wakdeadi, Pune – 411003, Maharashtra, India E-mail : cb502@corpbank.co.in
|
|
Nature of instrument creating charge |
First Supplemental Common Deed of Hypothecation of
Movables/Assets/Debts. |
|
Date of instrument Creating the charge |
30.12.2011 |
|
Amount secured by the charge |
Rs.80.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest CC 15.25% p.a. (Base Rate + 4.60%) Bank Guarantee: As per Bank's Prescribed Rate. Terms of Repayment Running account repayable on demand subject to Annual renewal. Margin CC : Book Debts - 30%. Bank guarantee - Cash Margin
10% Extent and Operation of the charge a) Hypothecation / first charge on Book Debts of the company b) Exclusive first charge over entire movable fixed assets of the
company (Present and Future) viz. computer Systems office equipment,
accessories, furniture and fixtures, electrical and networking installations,
software etc. and such other movable fixed assets of the company excluding
vehicles and other movable fixed assets, which are financed by Reliance
Capital to the Company. Others The credit facilities of Rs 80.000 Millions in form of Cash Credit
with sub-limit facility of BG Rs.10.000 Millions. Ref Bank's credit sanction
letter reference no PZ/ADV/JP/GM/163/2011-12 dated 24-12-2011. Opus Software
Solutions Private Limited given Corporate Guarantee of the company and
continuous security by Second charge on immovable fixed assets (collateral
securities) to secure above limits. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
a) Hypothecation / first charge on Book Debts of the company b) Exclusive first charge over entire movable fixed assets of the
company (Present and Future) viz. computer Systems office equipment,
accessories, furniture and fixtures, electrical and networking installations,
software etc. and such other movable fixed assets of the company excluding
vehicles and other movable fixed assets, which are financed by Reliance
Capital to the Company |
|
Date of instrument modifying the charge |
19.07.2010 |
|
Particulars of the present modification |
By present modification, the Credit facilities have been
renewed/revised/enhanced from Rs. 50.000 Millions to Rs.80.000 Millions
[including Sub - Limit for Bank Guarantee of Rs10.000 Millions] against
continuing Hypothecation / first charge on Book Debts, entire movable fixed
assets of the company (Present and Future) computer Systems, office
equipment, other movable fixed assets excluding Vehicles and those which are
financed by Reliance Capital to the Company. |
Fixed Assets:
·
Office Equipments
·
Computer Hardware
·
Furniture and Fixtures
·
Vehicles
·
Electrical and Networking
Installation
·
Computer Software
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.50.57 |
|
|
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.66.49 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.