MIRA
INFORM REPORT
|
Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL TRADE AND EXHIBITIONS INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
EXPOMEDIA EVENTS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1106-1107 11th Floor, Kailash Building, Kasturba Gandhi Marg, New
Delhi - 110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.01.2004 |
|
|
|
|
Com. Reg. No.: |
55-124343 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 109.007 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92490DL2004PTC124343 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELI04219F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI2082G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Providing Exhibitions and Event Management Services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. There appears
a huge 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 on a secured 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
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.
LOCATIONS
|
Registered Office : |
1106-1107 11th Floor, Kailash Building, Kasturba Gandhi Marg, New
Delhi – 110001, India |
|
Tel. No.: |
91-11-40828230/ 40828282 |
|
Fax No.: |
91-11-40828283 |
|
E-Mail : |
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|
Website : |
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|
Mumbai Office : |
E519 Floral Deck Plaza, Central MIDC Road, Opposite SEEPZ, Andheri
(East) Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-28398000 |
|
Fax No.: |
91-22-28390502 |
|
|
|
|
Chennai Office : |
4th Floor, Sekaran Complex, Plot No. 172 - 173, IT Expressway, OMR,
Thoraipakkam, Chennai - 600 097, Tamilnadu, India |
|
Tel. No.: |
91-44-30744444 |
|
Fax No.: |
91-44-30744445 |
|
|
|
|
Coimbatore Office: |
FabIntec Secretariat
Office: CODISSIA GD Naidu Towers, CODISSIA GD Naidu Towers, Coimbatore –
641018, Tamilnadu, India |
|
Tel. No.: |
91-422-2222396 / 7 |
|
Fax No.: |
91-422-2222131 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Krishna Venkatachalam Rajan |
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|
Designation : |
Director |
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|
Address : |
B-63, IFS Apartments Mayur Vihar, Phase – I, New Delhi – 110091, India |
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|
Date of Birth/Age : |
12.03.1941 |
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|
Date of Appointment : |
05.03.2009 |
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|
Voter ID : |
SFJ1046291 |
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|
PAN No.: |
ADOPR2706H |
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DIN No.: |
02777067 |
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Other Directorship: |
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||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Neil Garth Jones |
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|
Designation : |
Director |
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|
Address : |
28 Malting Lane Aldbury Tring HP235RH |
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|
Date of Birth/Age : |
03.06.1966 |
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|
Date of Appointment : |
27.11.2009 |
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DIN No.: |
02895741 |
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Other Directorship: |
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|
Name : |
Mr. Stephen Michael Keen |
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|
Designation : |
Director |
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|
Address : |
68 The Plain Epping Essex CM166TW |
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|
Date of Birth/Age : |
01.09.1965 |
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|
Date of Appointment : |
27.11.2009 |
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|
DIN No.: |
02950556 |
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Other Directorship: |
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KEY EXECUTIVES
|
Name : |
Shipra Sehgal |
|
Designation : |
Secretary |
|
Address : |
8/ 104 Sector III, Rajendra Nagar, Sahibabad, Ghaziabad – 201005,
Uttar Pradesh, India |
|
Date of Birth/Age : |
10.07.1977 |
|
Date of Appointment : |
16.09.2010 |
|
PAN No.: |
AWFPS7006K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Airgate Holdings Limited, Cyprus |
|
11272513 |
|
ITE Enterprises Limited Nominee of Airgate Holdings Limited, UK |
|
01 |
|
Total |
|
11272514 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Airgate Holdings Limited, Cyprus |
|
1200000 |
|
Total |
|
1200000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Exhibitions and Event Management Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
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|
Name : |
B S S R and Company Chartered Accountants |
|
Address : |
8th Floor, Tower B, DLF Cyber City, Phase-II, Gurgaon-122002, Haryana,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAASB4430H |
|
|
|
|
Holding company : |
·
Airgate Holdings Limited, Cyprus (w.e.f. 10
November 2009) ·
Expofund Limited, Cyprus (from 5 March 2009 till
9 November 2009) |
|
|
|
|
Ultimate holding
company : |
·
ITE Group Plc., U.K (w.e.f. 10 November, 2009) ·
Expofund Limited, Cyprus (from 5 March 2009 till
9 November 2009) |
|
|
|
|
Fellow
Subsidiaries : |
·
ITE Eurasian Exhibitions, Dubai ·
International Trade and Exhibitions Events
Private Limited [U92490DL2005PTC134355] |
CAPITAL STRUCTURE
AFTER 30.09.2011
Authorised Capital : Rs. 440.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 399.410
Millions
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,800,000 |
Equity Shares |
Rs. 10/- each |
Rs. 128.000 Millions |
|
1,200,000 |
Preference Shares |
Rs. 10/- each |
Rs. 12.000 Millions |
|
|
Total |
|
Rs. 140.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,272,514 |
Equity Share |
Rs.10/- each |
Rs. 112.725
Millions |
|
1,200,000 |
Preference Shares |
Rs.10/- each |
Rs. 12.000
Millions |
|
|
Total |
|
Rs. 124.725 Millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,800,000 |
Equity Shares |
Rs. 10/- each |
Rs. 128.000 Millions |
|
1,200,000 |
Preference Shares |
Rs. 10/- each |
Rs. 12.000 Millions |
|
|
Total |
|
Rs. 140.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
97,00,674 |
Equity Share |
Rs.10/- each |
Rs. 97.007
Millions |
|
12,00,000 |
Preference Shares |
Rs. 10/- each |
Rs. 12.000
Millions |
|
|
Total |
|
Rs. 109.007 Millions |
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 |
109.007 |
109.007 |
92.150 |
|
|
2] Share Application Money |
15.718 |
18.035 |
7.615 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(120.075) |
(80.461) |
(84.508) |
|
|
NETWORTH |
4.650 |
46.581 |
15.257 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
18.998 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
18.998 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
23.648 |
46.581 |
15.257 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.572 |
24.109 |
25.253 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
4.630 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
1.765
|
0.750 |
0.947 |
|
|
Cash & Bank Balances |
16.687
|
5.483 |
3.384 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.971
|
33.214 |
19.840 |
|
Total
Current Assets |
27.423
|
39.447 |
24.171 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.886
|
8.034 |
12.203 |
|
|
Other Current Liabilities |
18.155
|
13.263 |
21.732 |
|
|
Provisions |
0.306
|
0.308 |
0.232 |
|
Total
Current Liabilities |
23.347
|
21.605 |
34.167 |
|
|
Net Current Assets |
4.076
|
17.842 |
(9.996) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
23.648 |
46.581 |
15.257 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
17.892 |
88.532 |
60.882 |
|
|
|
Other Income |
12.610 |
1.916 |
0.658 |
|
|
|
TOTAL (A) |
30.502 |
90.448 |
61.540 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
60.463 |
86.772 |
96.673 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(29.961) |
3.676 |
(35.133) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(29.961) |
3.676 |
(35.133) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.023 |
4.259 |
4.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX (E-F) (G) |
(34.984) |
(0.583) |
(39.512) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.631 |
(4.630) |
0.217 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS AFTER
TAX (G-H) (I) |
(39.615) |
4.047 |
(39.729) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(80.461) |
(84.508) |
(44.779) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(120.076) |
(80.461) |
(84.508) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of exhibition space |
2.201 |
17.355 |
30.739 |
|
|
|
Unearned income |
0.841 |
1.871 |
0.000 |
|
|
TOTAL EARNINGS |
3.042 |
19.226 |
30.739 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(4.08) |
0.45 |
(13.51) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(129.88) |
4.47 |
(64.56) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(195.53) |
(0.66) |
(64.90) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(74.44) |
(0.92) |
(79.94) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(7.52) |
(0.01) |
(2.59) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.11 |
0.38 |
2.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.83 |
0.71 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
OPERATIONS
During the year,
the Company has incurred a loss of Rs. 39.615 Millions. The Company continued
its business of Organizing, holding, managing, administering, decorating all types
of exhibitions, events, seminars and conferences and gained a substantial
foothold in the market as is evident from the turnover achieved by the Company.
The Company expects to do better in the current year.
BACKGROUND
International
Trade and Exhibitions India Private Limited (“the Company”) was incorporated on
January 29, 2004 as a private limited company with its registered office at New
Delhi, India. The Company has been established to manage, administer and
decorate all types of exhibitions, events, seminars, conferences, symposium,
workshops, press conferences, training programs and other related activities.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2011 |
31.03.2010 |
|
- Income tax matters (Fringe benefit tax) |
0.028 |
0.028 |
(ii) During the
current year, Tafcon Projects (India) Private Limited has filed a case against
the Company for the appointment of an Arbitrator for the adjudication of the
disputes pertaining to the ownership and management of the PAPEREX 2011 event.
The same is pending before the Hon’ble High Court, New Delhi. The Company does
not expect the above to have any significant adverse impact on the financial
statements and accordingly no provision has been created against the above as
at the year end.
FIXED ASSETS:
Tangible assets
·
Leasehold improvements
·
Office Equipment
·
Computer
·
Furniture and Fixtures
Intangible assets
·
Trademarks
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. 55.34 |
|
|
1 |
Rs. 88.50 |
|
Euro |
1 |
Rs. 70.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
|
16 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.