MIRA
INFORM REPORT
|
Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
VIRTUAL GALAXY
INFOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3, Central
Excise Colony, Behind Mahatme Eye Bank,, Chhatrapati Square, Ring Road,
Nagpur – 440 015, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.09.1997 |
|
|
|
|
Com. Reg. No.: |
11-110645 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.400
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1997PTC110645 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing ERP Software Solution, CBS Solution Application and Web
Services. |
|
|
|
|
No. of Employees
: |
210 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 109000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. The management
of the company has not filed its latest financials with the Government
Department. As per previous year financials the reserves of the company seems
to be low. However, trade relations are reported as fair. Business is active.
Payment terms are unknown. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit: B+ |
|
Rating Explanation |
High risk of default |
|
Date |
March 21, 2012 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Harshjeet Deshpande |
|
Designation : |
General Manager |
|
Contact No.: |
91-712-6466311 |
|
Date : |
16.04.2013 |
LOCATIONS
|
Registered Office : |
3, Central
Excise Colony, Behind Mahatme Eye Bank,, Chhatrapati Square, Ring Road,
Nagpur – 440 015, Maharashtra, India |
|
Tel. No.: |
91-712-6565221/ 2244778/ 6466309/ 6466310/ 6466311 |
|
Mobile No.: |
91-9822930301 (Mr. Mahendra) |
|
Fax No.: |
91-712-2244778/ 2244768 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at: ·
Delhi ·
Pune ·
Ahmedabad ·
Raipur ·
Indore ·
Lucknow |
|
|
|
|
Overseas Office : |
Located at: ·
Uganda ·
Tanzania |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Avinash Narayan Shende |
|
Designation : |
Director |
|
Address : |
3, Central Excise Colony W, Adhra Road, Nagpur – 440 015, Maharashtra,
India |
|
Date of Appointment : |
12.09.1997 |
|
DIN No.: |
02179381 |
|
|
|
|
Name : |
Mr. Sachin Purushottam Pande |
|
Designation : |
Director |
|
Address : |
Plot No.68, Dattatraya Nagar, Nagpur – 440 024, Maharashtra, India |
|
Date of Appointment : |
12.09.1997 |
|
DIN No.: |
02181154 |
KEY EXECUTIVES
|
Name : |
Mr. Harshjeet Deshpande |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Avinash Narayan Shende |
|
760000 |
|
Sachin Purushottam Pande |
|
710000 |
|
Shilpa Avinash Shende |
|
85000 |
|
Sampada Sachin Pande |
|
85000 |
|
Total |
|
1640000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing ERP Software Solution, CBS Solution Application and Web
Services. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Business Algorithms Private Limited · Computer Store · Dicksons Engineering Company Private Limited · I C S Private Limited · Shriram Urban Co-Operative Bank Limited · Quickhal Technologies (Private) Limited · Risbud Karandikar and Company · R.K. Electricals · Super Computers · Sai Infosystem (India) Limited · Silver System · Tata Communications Internate Services Limited · Unilogic System (India) Private Limited |
||||||||||||||||||||||||
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Customers : |
Corporate ·
Anjani Steel Limited (Raigad) ·
Agrasen Nagri Sahakari Bank Limited ·
Bhandara Nagar Parishad ·
Goyal Proteins Limited ·
I R I S Computers Limited ·
Indian Sugar Manufacturing Company Limited ·
Hingoli Nagar Parishad ·
Majalgaon Sahakari Sakhar Karkhana Limited ·
Yashwant Nagri Sahakari Bank Limtied ·
State Bank of Patiala ·
Sanwaria Agro Oils Limited ·
Tania Industries Private Limited ·
Shiva Global Agro Industries Limited |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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No. of Employees : |
210 (Approximately) |
||||||||||||||||||||||||
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|
Bankers : |
·
Bank of Maharashtra, Shankar Nagar Branch, Nagpur
– 440 010, Maharashtra, India ·
Punjab National Bank ·
The Hongkong and Shanghai Banking Corporation Limited ·
Pusad Urban
Co-Operative Bank Limited · Samruddhi Co-Operative Bank Limited |
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Risbud Karandikar and Company Chartered Accountants |
|
Address : |
S-2, Uma Smruti, Modi No.1, Sitabjldi, Nagpur – 440 012, Maharashtra,
India |
|
Tel. No.: |
91-712-2528886 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFR6258R |
|
|
|
|
Associates/Subsidiaries : |
Info Craft Address: 3, Central Excise Colony, Behind Mahatme Eye Bank,,
Chhatrapati Square, Ring Road, Nagpur – 440 015, Maharashtra Line of Business: Dealer of Computers, Software and Computer
Peripherals and Other Information Technology Products. |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1640000 |
Equity Shares |
Rs.10/- each |
Rs.16.400
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 |
16.400 |
16.400 |
0.200 |
|
|
2] Share Application Money |
2.913 |
0.062 |
5.383 |
|
|
3] Reserves & Surplus |
8.028 |
3.866 |
3.928 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
27.341 |
20.328 |
9.511 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31.621 |
19.357 |
16.420 |
|
|
2] Unsecured Loans |
0.131 |
0.131 |
0.131 |
|
|
TOTAL BORROWING |
31.752 |
19.488 |
16.551 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
59.093 |
39.816 |
26.062 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
33.645 |
17.840 |
15.909 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.870 |
2.054 |
4.057 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.828
|
4.189 |
3.815 |
|
|
Sundry Debtors |
55.946
|
17.614 |
6.897 |
|
|
Cash & Bank Balances |
0.869
|
0.635 |
2.246 |
|
|
Other Current Assets |
2.529
|
2.866 |
2.581 |
|
|
Loans & Advances |
1.397
|
1.626 |
1.627 |
|
Total
Current Assets |
67.569
|
26.930 |
17.166 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
38.401
|
3.303 |
8.563 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.023 |
|
|
Provisions |
5.866
|
4.016 |
2.654 |
|
Total
Current Liabilities |
44.267
|
7.319 |
11.240 |
|
|
Net Current Assets |
23.302
|
19.611 |
5.926 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.276 |
0.311 |
0.170 |
|
|
|
|
|
|
|
|
TOTAL |
59.093 |
39.816 |
26.062 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
65.275 |
26.571 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
70.470 |
65.275 |
26.571 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
56.571 |
19.516 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
59.704 |
56.571 |
19.516 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.766 |
8.704 |
7.055 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
2.572 |
2.629 |
1.614 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.194 |
6.075 |
5.441 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.168 |
0.759 |
0.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.026 |
5.316 |
4.551 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.865 |
1.650 |
2.163 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.161 |
3.667 |
2.388 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
3.866 |
3.928 |
1.497 |
|
|
|
|
|
|
|
|
|
|
Bonus Shares
Issued During The Year |
0.000 |
3.800 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8.027 |
1.497 |
3.885 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.54 |
2.24 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.90
|
5.62 |
8.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.95
|
11.87 |
13.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.26 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.16
|
0.96 |
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
3.68 |
1.53 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
38.401
|
3.303 |
8.563 |
Details of Sundry Creditors (Partial
Details):
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Business
Algorithms Private Limited |
0.005 |
0.000 |
0.000 |
|
Computer Store |
0.015 |
0.000 |
0.000 |
|
Dicksons
Engineering Company Private Limited |
0.005 |
0.000 |
0.000 |
|
I C S Private
Limited |
0.004 |
0.000 |
0.000 |
|
Shriram Urban
Co-Operative Bank Limited |
0.019 |
0.020 |
0.000 |
|
Quickhal Technologies
(Private) Limited |
0.006 |
0.000 |
0.004 |
|
Risbud Karandikar
and Company |
0.079 |
0.020 |
0.020 |
|
R.K. Electricals |
0.004 |
0.000 |
0.000 |
|
Super Computers |
0.166 |
0.000 |
0.000 |
|
Sai Infosystem
(India) Limited |
37.459 |
0.000 |
0.000 |
|
Shreyas Infotech
(Creditors) |
0.509 |
0.000 |
0.000 |
|
Silver System |
0.047 |
0.000 |
0.000 |
|
Tata
Communications Internate Services Limited |
0.052 |
0.000 |
0.000 |
|
Unilogic System
(India) Private Limited |
0.015 |
0.017 |
0.594 |
|
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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
No |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
Yes |
|
Unsecured Loans |
31.03.2011 (Rs. in Millions) |
31.03.2010 (Rs. in Millions) |
|
Madhavrao Ghuse |
0.018 |
0.018 |
|
Savita A. Joshi |
0.018 |
0.018 |
|
Suchita Sontakke |
0.019 |
0.019 |
|
Nitin Pande |
0.019 |
0.019 |
|
Parinita Pande |
0.019 |
0.019 |
|
Vivek Soniakke |
0.019 |
0.019 |
|
Sammer Salpekar |
0.019 |
0.019 |
|
Total |
0.131 |
0.131 |
Note:
The registered office of the company has been shifted from First Floor,
Jagdish Bhavan, Mahal Square, Nagpur – 440 002, Maharashtra to the
present address w.e.f. 20.03.2009.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U99999MH1997PTC110645 |
|
Name of the company |
VIRTUAL GALAXY
INFOTECH PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
3, Central Excise
Colony, Behind Mahatme Eye Bank,, Chhatrapati Square, Ring Road, Nagpur – 440
015, Maharashtra, India E-Mail: cavrsonule@rediffmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Others (Bank Guarantee) |
|
Particular of charge holder |
Bank of
Maharashtra, Shankar Nagar Branch, Nagpur – 440 010, Maharashtra, India E-Mail: bom153@mahabank.co.in |
|
Nature of description of the instrument creating
or modifying the charge |
Counter guarantee for bank guarantee
limits. |
|
Date of instrument Creating the charge |
04.04.2012 |
|
Amount secured by the charge |
Rs.20.000 millions |
|
Brief particulars of the principal terms an
conditions and extent and operation of the charge |
Rate of Interest: Nil Terms of Repayment: To pay to bank on demand all such sums of
money as the bank may pay under the said guarantee. Margin: 20% Extent and Operation of the charge: The charge cover sanctioned Bank guarantee
along with interest, penal interest and other charges. |
|
Short particulars of the property charged |
Charge on stock and receivables. Counter guarantee of the company. Equitable Mortgage of Leasehold land and construction
there on situated at Mouza, Sakardara, Nagpur valuing of Rs.15.075 millions. |
FIXED ASSETS:
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixture
·
Fire Extinguisher
·
Electrical Equipments
·
Vehicles
·
Laptop
·
Goddess Idol
·
Refrigerator
·
CCTV Camera
·
Adv. For Plot
·
Air Conditioner
·
Projector
·
Software Development
·
Spiral Binding Machine
·
Tea/Coffee Machine
·
Office Interior
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.54.33 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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.