MIRA
INFORM REPORT
|
Report Date : |
17.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
AMDOCS DEVELOPMENT CENTRE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
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|
Date of
Incorporation : |
27.01.2004 |
|
|
|
|
Com. Reg. No.: |
11-018832 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs. 224.013 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200PN2004PTC018832 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA05071D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA5803G |
|
|
|
|
Legal Form : |
Private limited Liability Company. |
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|
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|
Line of Business
: |
Manufacturing, Marketing, Trading, Research, Development, Designing,
Exporting, Importing and Consulting in all types of Computer Software and
Hardware. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 18000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal business dealing 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.
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.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE
LOCATIONS
|
Registered Office : |
Cyber City Tower 2, 6th Floor, Magarpatta City,
Hadapsar, Pune - 411028, Maharashtra,
India |
|
Tel. No.: |
91-20-40153000 |
|
Fax No.: |
91-20-40143060 |
|
E-Mail : |
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|
Website : |
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|
Branch : |
8-12/1/2 Pune Sumw CTR, 4th Floor, Pune – 411004, Maharashtra,
India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Ashok Kumar Anchalia |
|
Designation : |
Director |
|
Address : |
No.6, Abhinav Anchorage, 3rd Floor, Venkat Eswara Nagar, 3rd
Street, Adyar, Chennai – 600020, Tamilnadu, India |
|
Date of Birth/Age : |
01.11.1953 |
|
Qualification : |
BCOM, LLB, MBA |
|
Date of Appointment : |
22.06.2007 |
|
DIN No.: |
00009769 |
|
|
|
|
Name : |
Mr. Mangesh Avinash Deshpande |
|
Designation : |
Whole-time director |
|
Address : |
S. No. 91/1, 22A, Tushar Apartments, Tulsibagwala Colony, Sahakar
Nagar, Pune-411009, Maharashtra, India |
|
Date of Birth/Age : |
17.10.1970 |
|
Qualification : |
BCOM, FCA, CPA |
|
Date of Appointment : |
26.07.2005 |
|
DIN No.: |
00020332 |
|
|
|
|
Name : |
Mr. Mahesh Vinayak Jog |
|
Designation : |
Director |
|
Address : |
Rahul Towers Building No.1/A2/1003, Paud Road, Pune-411038,
Maharashtra, India |
|
Date of Birth/Age : |
29.05.1967 |
|
Qualification : |
B. Sc, MPM, MLL and LW |
|
Date of Appointment : |
01.07.2007 |
|
DIN No.: |
01109294 |
KEY EXECUTIVES
|
Name : |
Kshitij Shyamlal Dwivedi |
|
Designation : |
Secretary |
|
Address : |
E8, Disney Park, Azadnagar, Pune-411022, Maharashtra, India |
|
Date of Birth/Age : |
12.01.1978 |
|
Date of Appointment : |
27.12.2007 |
|
PAN No.: |
AILPD2663D |
|
|
|
|
Name : |
Menachem Domb |
|
Designation : |
Development Director |
|
Date of Birth/Age : |
57 Years |
|
Qualification : |
Doctorate (PhD ) |
|
Experience : |
32.65 Years |
|
|
|
|
Name : |
Tomer Magera |
|
Designation : |
Expert |
|
Date of Birth/Age : |
38 Years |
|
Qualification : |
B.A. Computer Science |
|
Experience : |
13.95 Years |
|
|
|
|
Name : |
Rajat Raheja |
|
Designation : |
VP - HR |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
B.E (
Electronics ) , PGDBM ( XLRI ) |
|
Experience : |
17 Years |
|
|
|
|
Name : |
Nir Hollander |
|
Designation : |
Development Vp |
|
Date of Birth/Age : |
40 Years |
|
Qualification : |
Masters (MA) |
|
Experience : |
10 Years |
|
|
|
|
Name : |
Andrei Boulgakov |
|
Designation : |
Group Leader |
|
Date of Birth/Age : |
38 Years |
|
Qualification : |
Diploma in
Software Engineering |
|
Experience : |
7 Years |
|
|
|
|
Name : |
Khalil Suleiman |
|
Designation : |
Group Leader |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
BA |
|
Experience : |
10.55 Years |
|
|
|
|
Name : |
Gerald Mickelson |
|
Designation : |
Director |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
BS Organization
Development |
|
Experience : |
26 Years |
|
|
|
|
Name : |
Peleg Rotem |
|
Designation : |
Manager |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
Masters (MA) |
|
Experience : |
24.1 Years |
|
|
|
|
Name : |
Andrew Steady |
|
Designation : |
Senior Expert |
|
Date of Birth/Age : |
34 Years |
|
Qualification : |
B.Sc ( Computer
Science ) |
|
Experience : |
8.44 Years |
|
|
|
|
Name : |
Shrirang Bapat |
|
Designation : |
Development Vp |
|
Date of Birth/Age : |
43 Years |
|
Qualification : |
B.E ( Computers
) |
|
Experience : |
19 Years |
|
|
|
|
Name : |
Alok Srivastava |
|
Designation : |
CBE Director -
Sales |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
B.Sc. |
|
Experience : |
20.84 Years |
|
|
|
|
Name : |
Anshoo Gaur |
|
Designation : |
Management |
|
Date of Birth/Age : |
43 Years |
|
Qualification : |
BS(Mechanical
Engineering), MS (Industrial / Systems Engineering) |
|
Experience : |
21.09 Years |
|
|
|
|
Name : |
Sharada
Nandakumar |
|
Designation : |
Vice President -
Development |
|
Date of Birth/Age : |
45 Years |
|
Qualification : |
BSC, PGDCSM |
|
Experience : |
23 Years |
|
|
|
|
Name : |
Sreenivasulu
Yerva |
|
Designation : |
Vice President |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
B.E |
|
Experience : |
19 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Amdocs Development Limited, |
|
22401334 |
|
European Software Marketing Limited, Channel Islands |
|
1 |
|
Total |
|
22401335 |
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 : |
Manufacturing, Marketing, Trading, Research, Development, Designing,
Exporting, Importing and Consulting in all types of Computer Software and
Hardware. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
C-401, Panchashil Tech Park, Yerwada, Pune
– 411006, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Holding Company : |
Amdocs Development Limited |
|
|
|
|
Ultimate Holding
company : |
Amdocs Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 285.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,401,335 |
Equity Share |
Rs.10/- each |
Rs. 224.013
Millions |
|
|
|
|
|
Note: Out of the above Issued, subscribed, paid
up share capital 22,401,334 equity shares are held by Amdocs Development
Limited Cyprus, the holding 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 |
224.013 |
252.348 |
283.823 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4340.022 |
3795.307 |
2951.835 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4564.035 |
4047.655 |
3235.658 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
238.455 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
238.455 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4564.035 |
4047.655 |
3474.113 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
678.300 |
434.968 |
581.587 |
|
|
Capital work-in-progress |
28.442 |
1.756 |
2.960 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000
|
|
|
Sundry Debtors |
3116.628
|
3096.365 |
2467.295
|
|
|
Cash & Bank Balances |
703.273
|
235.157 |
264.212
|
|
|
Other Current Assets |
979.096
|
893.948 |
523.385
|
|
|
Loans & Advances |
371.556
|
208.315 |
257.578
|
|
Total
Current Assets |
5170.553
|
4433.785 |
3512.470
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
819.871
|
456.057 |
315.779 |
|
|
Other Current Liabilities |
100.247
|
64.135 |
81.246
|
|
|
Provisions |
393.142
|
302.662 |
225.879
|
|
Total
Current Liabilities |
1313.260
|
822.854 |
622.904
|
|
|
Net Current Assets |
3857.293
|
3610.931 |
2889.566
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4564.035 |
4047.655 |
3474.113 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9203.200 |
7401.900 |
5930.100 |
|
|
|
Other Income |
10.100 |
2.297 |
345.460 |
|
|
|
TOTAL |
9213.300 |
7404.197 |
6275.560 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
N.A. |
5441.595 |
4702.864 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
N.A. |
1962.602 |
1572.696 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
N.A. |
341.691 |
198.094 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
1612.600 |
1620.911 |
1374.602 |
|
|
|
|
|
|
|
|
|
|
|
Export Earnings |
8939.400 |
7215.201 |
5850.422 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
N.A. |
243.233 |
172.474 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
71.99 |
72.36 |
48.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
17.50 |
21.89 |
21.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
N.A. |
26.51 |
26.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
N.A. |
40.31 |
38.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
N.A. |
0.48 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.29 |
0.20 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.94 |
5.39 |
5.64 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
819.871 |
456.057 |
318.148 |
|
Sundry
creditors |
819.871 |
456.057 |
318.148 |
|
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 |
No |
|
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 |
No |
NATURE OF
OPERATIONS:
Amdocs Development
Centre India Private Limited (the Company), a 100% Export Oriented Unit (EOU)
was incorporated on 27th January 2004 and is engaged in the business of export of
software services operating through a unit registered with the Software
Technology Parks of India (STPI). With effect from 1st June 2010 the Company
has commenced operations of a new unit registered in Special Economic Zone
(SEZ)
FINANCIAL
PERFORMANCE:
During the
financial year under consideration, the Company recorded an Income of Rs.
9203.200 Millions (previous year Rs. 7401.900 Millions) from Software
Development Services and also earned other income of Rs. 10.100 Millions
(previous year Rs. 2.200 Millions). The Company achieved a Net Profit after Tax
of Rs. 1612.600 Millions (Previous year Rs. 1620.900 Millions)
FIXED ASSETS:
Tangible assets:
·
Computers
·
Office Equipment
·
Plant and Machinery
·
Furniture and Fixture
·
Leasehold Improvement
Intangible Asset:
·
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. 54.73 |
|
|
1 |
Rs. 88.61 |
|
Euro |
1 |
Rs. 71.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
62 |
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.