MIRA INFORM REPORT
|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
TIMES GLOBAL BROADCASTING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Trade House, 1st Floor, Kamala Mill Compound, Senapati
Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
13.06.1986 |
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Com. Reg. No.: |
11-168454 |
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Capital
Investment / Paid-up Capital : |
Rs.2188.196 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U32109MH1986PLC168454 |
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|
|
PAN No.: [Permanent Account No.] |
AACCT2259F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is
engaged in the English Television News segment of the Media Business and operates
a General News and Current affairs Channel by the name “Times Now”. The
Company is a wholly owned subsidiary of Bennett, Coleman and Company Limited. |
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|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Bennett Coleman and Company Limited. It is an established and a reputed company having a moderate track
record. There appears huge accumulated losses recorded by the company and
networth is fully eroded. However, the company receives good support from its
holding company. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. In view of strong holding the company can be considered for business
dealings with slight caution. |
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 DECLINED
MANAGEMENT NON CO-OPERATIVE.
Contact No.: 91-22-24999444
LOCATIONS
|
Registered/ Corporate Office : |
Trade House, 1st Floor, Kamala Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24999944 |
|
Fax No.: |
91-22-24931341 |
|
E-Mail : |
jyothi.sureshkumar@timesgroup.com |
|
Website : |
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|
|
|
|
Publication Office : |
Times of India Building, Dr. D N Road, Mumbai - 400001, Maharashtra,
India |
|
Tel No.: |
91-22-66353535 |
DIRECTORS
(AS ON 09.07.2012)
|
Name : |
Mr. Sunil Mohansingh Lulla |
|
Designation : |
Managing Director |
|
Address : |
27, Punam, 67 Nepean Sea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
27.01.1961 |
|
Date of Appointment : |
03.06.2010 |
|
DIN No.: |
00110266 |
|
|
|
|
Name : |
Mr. Ravindra Dhariwal |
|
Designation : |
Director |
|
Address : |
Aashray Farm, SUB. P.O. Sawan Public School, Bhatti Mines, Asola
Village, New Delhi – 110030, India |
|
Date of Birth/Age : |
11.09.1952 |
|
Date of Appointment : |
13.09.2006 |
|
DIN No.: |
00003922 |
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|
|
|
Name : |
Mr. Vineet Jain |
|
Designation : |
Director |
|
Address : |
15, Motilal Nehru Marg, New Delhi – 110011, India |
|
Date of Birth/Age : |
12.02.1966 |
|
Date of Appointment : |
31.03.2005 |
|
DIN No.: |
00003962 |
|
|
|
|
Name : |
Mr. Amba Preetham Parigi |
|
Designation : |
Director |
|
Address : |
5th Floor, Flat No. Tahnee Heights CHS Limited, 68 Napensea
Road, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1949 |
|
Date of Appointment : |
13.09.2006 |
|
DIN No.: |
00087586 |
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|
|
|
Name : |
Mr. Bhaskar Das |
|
Designation : |
Director |
|
Address : |
C-1, Queen’s View, 28/30, Walkeshwar Road, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
08.05.1953 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
00055594 |
|
|
|
|
Name : |
Mr. Shrijeet Ramakanta Mishra |
|
Designation : |
Additional Director |
|
Address : |
Flat No.7-A, Manek, L. D. Ruparel Marg, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
22.04.1965 |
|
Date of Appointment : |
10.12.2012 |
|
DIN No.: |
01894081 |
KEY EXECUTIVES
|
Name : |
Ms. Jyothi Suresh Kumar |
|
Designation : |
Company Secretary |
|
Address : |
1101/1102, Astoria, REaheja Gardens, LBS Marg, Then West- 400604,
Maharashtra, India |
|
Date of Birth/Age : |
19.04.1975 |
|
Date of Appointment : |
01.01.2009 |
|
PAN No.: |
ACAPJ2200M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 09.07.2012)
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
|
|
|
|
Bennett Coleman and Company Limited, India |
|
85789529 |
|
S. Sivakumar Jointly with Bennett Coleman and Company Limited, India |
|
11 |
|
A. P. Parigi Jointly with Bennett Coleman and Company Limited, India |
|
11 |
|
Bhaskar Das Jointly with Bennett Coleman and Company Limited, India |
|
11 |
|
Kaushik Nath Jointly with Bennett Coleman and Company Limited, India |
|
11 |
|
Sundaram Jointly with Bennett Coleman and Company Limited, India |
|
11 |
|
Aamod Gupte Jointly with Bennett Coleman and Company Limited, India |
|
11 |
|
M. Vasudev Rao Jointly with Bennett Coleman and Company Limited, India |
|
11 |
|
|
|
|
|
Total |
|
85789606 |
|
|
||
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
|
|
|
|
Bennett Coleman and Company Limited, India |
|
133030000 |
|
|
|
|
|
Total |
|
133030000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.99 |
|
Others |
|
0.01 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is
engaged in the English Television News segment of the Media Business and
operates a General News and Current affairs Channel by the name “Times Now”. The
Company is a wholly owned subsidiary of Bennett, Coleman and Company Limited. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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||||||||||||||||||
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Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited Hongkong Bank Building, 52/60, Mahatma Gandhi Road, Fort,
Mumbai – 400001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Lodha and Company Chartered Accountant |
|
Address : |
6 , Karim Chambers,
40-A Doshi Marg (Hamam Street), Mumbai - 400001, Maharashtra, India |
|
Tel No.: |
91-22-22651140/
22651190/ 22691414/ 22691515 |
|
Fax No.: |
91-22-22650126 |
|
PAN No.: |
AABFL1894Q |
|
Email : |
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Holding Company : |
· Bennett, Coleman and Company Limited, India |
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Associates : |
· Bennett Property Holding Limited, India |
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Fellow Subsidiaries : |
· Alternate Brand Solutions (India) Limited, India · Brand Equity Treaties Limited, Indi · Entertainment Network (India) Limited, India · Media Network and Distribution Services Limited, India · Optimal Media Solutions Limited, India · Times Business Solutions Limited, India · Times Innovative Media Limited, India · Times Internet Limited, India · Zoom Entertainment Network Limited, India |
CAPITAL STRUCTURE
(AS ON 09.07.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
150000000 |
Preference Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85789606 |
Equity Shares |
Rs.10/- each |
Rs.857.896
Millions |
|
133030000 |
Preference Shares |
Rs.10/- each |
Rs.1330.300
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2188.196 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2188.196 |
2188.196 |
2188.196 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
766.839 |
|
|
4] (Accumulated Losses) |
(2786.973) |
(2803.442) |
(4205.022) |
|
|
NETWORTH |
(598.777) |
(615.246) |
(1249.987) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
62.663 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
546.861 |
385.908 |
1886.540 |
|
|
TOTAL BORROWING |
609.524 |
385.908 |
1886.540 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.747 |
(229.338) |
636.553 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
104.730 |
113.366 |
769.651 |
|
|
Capital work-in-progress |
1.346 |
1.003 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.352 |
0.263 |
0.249 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
517.982
|
460.776 |
599.881 |
|
|
Cash & Bank Balances |
10.199
|
18.766 |
5.256 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
482.749
|
250.424 |
295.165 |
|
Total
Current Assets |
1010.930
|
729.966 |
900.302 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1036.205
|
1006.814 |
381.960 |
|
|
Other Current Liabilities |
16.158
|
18.743 |
608.273 |
|
|
Provisions |
54.248
|
48.379 |
43.416 |
|
Total
Current Liabilities |
1106.611
|
1073.936 |
1033.649 |
|
|
Net Current Assets |
(95.681)
|
(343.970) |
(133.347) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.747 |
(229.338) |
636.553 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1789.637 |
1272.357 |
1470.985 |
|
|
|
Other Income |
1.757 |
0.570 |
0.178 |
|
|
|
TOTAL (A) |
1791.394 |
1272.927 |
1471.163 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
220.618 |
174.604 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
0.000 |
0.000 |
2651.608 |
|
|
|
Employee Benefit Expense |
450.699 |
458.207 |
|
|
|
|
Other Expenses |
1050.316 |
1071.023 |
|
|
|
|
TOTAL (B) |
1721.633 |
1703.834 |
2651.608 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
69.761 |
(430.907) |
(1180.445) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.167 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
69.594 |
(430.907) |
(1180.445) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
53.125 |
99.433 |
289.451 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.469 |
(530.340) |
(1469.896) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
16..469 |
(530.340) |
(1470.036) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
30.583 |
1.353 |
Nil
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
19.099 |
21.246 |
160.212 |
|
|
TOTAL IMPORTS |
19.099 |
21.246 |
160.212 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.19 |
(6.18) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.68
|
1.46 |
2.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.50
|
2.37 |
4.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.02
|
2.78 |
5.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.12 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.54
|
1.69 |
3.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04
|
0.83 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
1036.205
|
1006.814 |
381.960 |
|
|
|
|
|
|
Total |
1036.205
|
1006.814 |
381.960 |
|
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 |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Rupee Term Loans
from others Interest free Long
Term Borrowings are due for repayment afer 1.4.2016. Sr. Name of the party
Amount of Borrrowings 1 Bennett Coleman and Company Limited 13,30,30,000 |
546.861 |
385.908 |
|
|
|
|
|
Total |
546.861 |
385.908 |
OPERATIONS AND MAJOR
EVENTS DURING THE YEAR
The Company’s
channel Times Now continued to maintain its leadership position in the TV
English General News genre and was at the top position for 28 weeks out of the
53 weeks in FY 2012. Times Now was the no.1 channel throughout the first three
quarters of the calendar year and topped the genre overall in FY 2012 with an
average share of 33% for FY 2012 as against 31% and 18% of its immediate
competitors.
Despite stiff
competition and decline in category GRP/viewership over the previous years,
Times Now maintained financial and viewership leadership with improved EBIDTA
over FY 2011 and better cash conservation. With 29% CAGR in revenue (over a 5
year period from 2008 to 2012) Times Now has grown at 2.5 times the pace of growth
of the TV broadcast industry.
Times Now has
demonstrated significant increase in revenues in FY 2012 while also keeping
costs under control and has for the first time since its launch achieved
break-even. The channel will aim to continue enhancing its financial
performance in FY 2013 by aggressively focusing on augmenting revenues from
branded content and digital/social media presence. To retain audiences Times
Now will strengthen its key time bands and drive audience retention across its
key shows and create news brands out of its key properties.
FIXED ASSETS:
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.65 |
|
|
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.