MIRA INFORM REPORT
|
Report Date : |
23.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SMART CARD IT SOLUTIONS LIMITED (w.e.f. 29.07.2010) |
|
|
|
|
Formerly Known
As : |
SMART CARD IT SOLUTIONS PRIVATE LIMITED (w.e.f. 10.06.2010) ROPA CARD TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat 837/2, Pune Nagar Road, Village Sanaswadi, Shirur, Pune – 412208,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.03.2010 |
|
|
|
|
Com. Reg. No.: |
11-135861 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 106.940 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22219PN2010PLC135861 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECR7103A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Company offers Card Manufacturing, Solutions and Consulting Services. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 430000 |
|
|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is having moderate track record. Even though the company was incorporated
on 22.03.2010 company started its operation in financial year 2012. The
company has incurred loss in its first year of operation. However, trade relations are improving. Business is active. Payment
terms are slow but correct. The company can be considered for business dealing with great 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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Limit- Term Loan = B |
|
Rating Explanation |
Risk prone credit quality and very high credit risk |
|
Date |
August 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term, Non Fund Based Limit = A4 |
|
Rating Explanation |
Risk prone credit quality and very high credit risk |
|
Date |
August 2013 |
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 BY
|
Name : |
Mr. Georg |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9763492801/02/03 |
|
Date : |
23.08.2013 |
LOCATIONS
|
Registered Office / Factory : |
Gat 837/2, Pune Nagar Road, Village Sanaswadi, Shirur, Pune – 412208, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9763492801/02/03 (Mr. Georg) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Mumbai Office : |
1401, Raheja Centre, Nariman Point, Mumbai - 400021, Maharashtra, India |
|
Tel. No.: |
91-22-66585400 |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Deven Jitendra Mehta |
|
Designation : |
Managing Director |
|
Address : |
D-3/D-4, Amalfi, L.D.Ruparel Marg, Malabar Hill, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
19.11.1969 |
|
Date of Appointment : |
19.11.2010 |
|
DIN No.: |
01243493 |
|
PAN No.: |
AAPPM2122C |
|
|
|
|
Name : |
Mr. Jitendra Jagannath Mehta |
|
Designation : |
Director |
|
Address : |
S J Impex, 1401 Raheja Centre, 14th Floor, 214 Free Press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1969 |
|
Date of Appointment : |
11.06.2010 |
|
DIN No.: |
01654135 |
|
PAN No.: |
AAPPM2381K |
|
|
|
|
Name : |
Mr. Subrata Dutta |
|
Designation : |
Director |
|
Address : |
A 403/404, Dosti Elite, Near Sion (East), Mumbai – 400022, , Maharashtra, India |
|
Date of Birth/Age : |
18.09.1963 |
|
Date of Appointment : |
02.08.2011 |
|
DIN No.: |
02004997 |
|
|
|
|
Name : |
Mr. Philippe Louis Geyres |
|
Designation : |
Director |
|
Address : |
63, Ruse DE Saint Peres, Paris – 75006 |
|
Date of Birth/Age : |
05.09.1952 |
|
Date of Appointment : |
29.08.2011 |
|
DIN No.: |
03606659 |
KEY EXECUTIVES
|
Name : |
Mrs. Meghana Sharad Paranjpe |
|
Designation : |
Secretary |
|
Address : |
22-A, Swapan LIC Colony, Vineet Society, Near Karve Stat, Pune –
411038, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1983 |
|
Date of Appointment : |
09.08.2012 |
|
PAN No.: |
ARAPP9264C |
|
|
|
|
Name : |
Mr. Georg |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jitendra Jagannath Mehta |
|
3687500 |
|
Jyoti Jitendra Meh |
|
150000 |
|
Jitendra J.Mehta Huf |
|
150000 |
|
Deven Jitendra Mehta |
|
3356500 |
|
Amisha Deven Mehta |
|
150000 |
|
Deven Jitendra Mehta Huf |
|
150000 |
|
Sunil Ramniklal Kothari |
|
200000 |
|
Shobha Sunil Kothari |
|
200000 |
|
Apurva Sunil Kothari |
|
100000 |
|
Anand Sunil Kothari |
|
100000 |
|
Sanjay Ramniklal Kothari |
|
200000 |
|
Rita Sanjay Kothari |
|
200000 |
|
Dinesh Hasmukhrai Kanabar |
|
350000 |
|
Girish Jamnadas Joshi |
|
150000 |
|
Dahyabhai Govindbhai Sutariya |
|
120000 |
|
Kavitkumar Dahyabhai Sutariya |
|
115000 |
|
Parth Dahyabhai Sutariya |
|
115000 |
|
Global E-Services Private Limited, India |
|
500000 |
|
Rajesh Bhalchandra Dhume |
|
250000 |
|
Anil Harish |
|
200000 |
|
Rameshbhai Bhagwanbhai Sutariya |
|
50000 |
|
Rajesh Bhagwanbhai Sutariya |
|
50000 |
|
Lavjibhai Bhagwanbhai Sutariya |
|
50000 |
|
Laxmi Narayan |
|
8333 |
|
Sujata Shankar |
|
8333 |
|
Kallidaikurichi Sankarier Sundaram |
|
83334 |
|
Mohit Dhirajilal Shah |
|
100000 |
|
Sonali Adityakumar Ajmera |
|
13000 |
|
Urvashi Maheshkumr Ajmera |
|
7000 |
|
Total |
|
10814000 |
As on 28.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
4.62 |
|
Directors or relatives of Directors |
70.22 |
|
Other top fifty shareholders |
25.16 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company offers Card Manufacturing, Solutions and
Consulting Services. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
Bankers : |
State Bank of India, Collector Office Compound, Dr B R
Ambedkar Road, Pune - 411001, Maharashtra, India |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
--- |
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|
Auditors : |
|
|
Name : |
Kirtane and Pandit Chartered Accountant |
|
Address : |
73/2/2, Sangati Bhakti Marg, Off Law College Road, Pune –
411004, Maharashtra, India |
|
Tel. No.: |
91-20-67295100 / 25433104/ 25438764 |
|
Fax No.: |
91-20-25447603 |
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E-Mail : |
|
|
PAN No.: |
AACFK3469M |
CAPITAL STRUCTURE
After 28.09.2012
Authorised Capital : Rs.200.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.167.690 Millions
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10814000 |
Equity Shares |
Rs.10/- each |
Rs.108.140 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10694000 |
Equity Shares |
Rs.10/- each |
Rs.106.940 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
106.940 |
32.840 |
|
(b) Reserves & Surplus |
|
2.523 |
72.000 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
19.800 |
|
Total
Shareholders’ Funds (1) + (2) |
|
109.463 |
124.640 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
144.008 |
144.512 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.664 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
144.672 |
144.512 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
43.549 |
0.000 |
|
(b) Trade
payables |
|
10.603 |
0.000 |
|
(c) Other
current liabilities |
|
45.096 |
1.183 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
99.248 |
1.183 |
|
|
|
|
|
|
TOTAL |
|
353.383 |
270.335 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
286.167 |
24.798 |
|
(ii)
Intangible Assets |
|
0.571 |
0.034 |
|
(iii)
Capital work-in-progress |
|
13.633 |
225.565 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.142 |
0.098 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
301.513 |
250.495 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
18.565 |
0.000 |
|
(c) Trade
receivables |
|
10.871 |
0.000 |
|
(d) Cash
and cash equivalents |
|
9.728 |
14.280 |
|
(e)
Short-term loans and advances |
|
12.558 |
5.560 |
|
(f) Other
current assets |
|
0.148 |
0.000 |
|
Total
Current Assets |
|
51.870 |
19.840 |
|
|
|
|
|
|
TOTAL |
|
353.383 |
270.335 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
67.057 |
|
|
|
|
Other Income |
|
2.404 |
|
|
|
|
TOTAL (A) |
|
69.461 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
|
54.334 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
|
(3.798) |
|
|
|
|
Employee benefit expense |
|
17.780 |
|
|
|
|
Other expenses |
|
45.569 |
|
|
|
|
TOTAL (B) |
|
113.885 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(44.424) |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
28.380 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(72.804) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
9.672 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
(82.476) |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
(82.476) |
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
1.462 |
NA |
|
|
TOTAL EARNINGS |
|
1.462 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
(13.55) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
(118.74) |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(122.99) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(24.28) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.75) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
1.71 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.52 |
16.77 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
|
16.002 |
0.000 |
|
|
|
|
|
|
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 one year |
Yes |
|
12] |
Profitability for last one year |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
No |
|
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS
During the period, the company commenced its business from July 2011. The company has been able to explore and penetrate various end user market segments such as Smart cards for Health, Banking and Govt. projects like Driving License and Telecom. The Board projects significant increase in turnover of the company by the end of next financial year.
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particular |
31.03.2012 |
|
Bank Guarantees ( for EPCG License) |
6.975 |
|
Letter of Credit in favour of Supplier |
7.878 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
1.670 |
0.000 |
|
Total |
1.670 |
0.000 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10275635 |
03/03/2011 |
250,000,000.00 |
STATE BANK OF INDIA |
COLLECTOR OFFICE COMPOUND, DR B R AMBEDKAR ROAD, |
B09098849 |
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Furniture and fixtures
- Vehicles
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.65.42 |
|
|
1 |
Rs.102.09 |
|
Euro |
1 |
Rs.87.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.