MIRA
INFORM REPORT
|
Report Date : |
03.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASCENT HOTELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 114, Dr. E Moses Road, Mumbai - 400018, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.07.2005 |
|
|
|
|
Com. Reg. No.: |
11-154475 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.349.717
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55101MH2005PTC154475 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA26101F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Hospitality Services. |
|
|
|
|
No. of Employees
: |
Information
denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There appears losses recorded by the company during the financial year
2013. External borrowing of the company seems to be huge. However, trade relations are fair. Business is active. Payments terms
are slow. 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = C |
|
Rating Explanation |
Poor credit quality and high risk of default |
|
Date |
31.07.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
31.07.2013 |
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 : |
Mrs. Renu Bansal |
|
Designation : |
Finance Director |
|
Contact No.: |
91-22-24818913 |
|
Date : |
02.12.2013 |
LOCATIONS
|
Registered Office : |
Plot No. 114, Dr. E Moses Road, Mumbai - 400018, Maharashtra, India |
|
Tel. No.: |
91-22-66627770/ 24818910/ 24818919 |
|
Fax No.: |
91-22-66528088 |
|
E-Mail : |
DIRECTORS
As on 17.09.2013
|
Name : |
Mr. Krishnamurthy Muthuswamy |
|
Designation : |
Director |
|
Address : |
Atria Building, Zircon, 5th Floor, Flat No.503, Viman Nagar,
Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
10.06.1960 |
|
Date of Appointment : |
17.09.2013 |
|
Din No.: |
00037763 |
|
|
|
|
Name : |
Mr. Shiv Kumar Jatia |
|
Name : |
Mr. Adarsh Rajkumar Katia |
|
Designation : |
Director |
|
Address : |
5th floor, Krishnabad Building, Gamadai Road, Mumbai -
400026, Maharashtra, India |
|
Date of Birth/Age : |
15.11.1980 |
|
Date of Appointment : |
06.07.2005 |
|
Din No.: |
00136214 |
|
|
|
|
Name : |
Mr. Rajkumar Subhkaran Jatia |
|
Designation : |
Director |
|
Address : |
5th floor, Krishnabad Building, Warden Road, Mumbai -
400026, Maharashtra, India |
|
Date of Birth/Age : |
14.10.1951 |
|
Date of Appointment : |
06.07.2005 |
|
Din No.: |
00136303 |
KEY EXECUTIVES
|
Name : |
Mrs. Renu Bansal |
|
Designation : |
Finance Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Adarsh Rajkumar Jatia |
|
7400 |
|
Bridgestone Developers Private Limited, Mauritius |
|
28294762 |
|
Vascon Engineers Limited, India |
|
6669492 |
|
Total |
|
34971654 |
As on 17.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
99.98 |
|
Directors or relatives of Directors |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Hospitality Services. |
GENERAL INFORMATION
|
No. of Employees : |
Information
denied by the management |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
· DBS Bank Limited, Upper Ground Floor, 25, Barakhamba Road,, New Delhi - 110001, India ·
HDFC Bank, Mumbai, Maharashtra, India ·
Corporation
Bank |
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking Relations
: |
--- |
|
|
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|
Financial
Institution: |
Infrastructure Development Finance Company Limited, KRM Tower, 8th
Floor, No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamilnadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
D N Kanabar and Company Chartered Accountants |
|
Address : |
406, Maker Chamber, V, 221, Nariman Point, Mumbai - 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-66356695 / 96 |
|
E-Mail : |
|
|
PAN No.: |
AABPK1577D |
|
|
|
|
Entities controlled
by Directors or their relatives: |
· Avenue Technologies Private Limited · Asian Hotels (North) Limited · Mumbai Broadcasting Company Private Limited · Leading Hotels Limited · Magus Estates and Hotels Limited · Zeus Developers Private Limited · South Shore Developers Private Limited · Plash Foods Private Limited · Emerald City Developers Private Limited · Srinivasa Developers Private Limited · Dujodwala Products Private Limited · Novacare Drug Specialitiks Private Limited · Prudential Hotels Private Limited · Vascon Engineers Private Limited · Swastik Laundary Services Private Limited · Milttal Communications Private Limited · Vatsalaya Enterprises Private Limited |
|
|
|
|
Firms controlled by
directors or their relatives |
· Nidhivan farms · Venus Ventures · Vastech Renaissance EPC LLP ·
Vastech Associates |
CAPITAL STRUCTURE
As on 17.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34971654 |
Equity Shares |
Rs.10/- each |
Rs.349.717
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
349.717 |
349.717 |
349.717 |
|
(b) Reserves & Surplus |
100.852 |
468.578 |
833.530 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
37.500 |
37.500 |
37.500 |
|
Total
Shareholders’ Funds (1) + (2) |
488.069 |
855.795 |
1220.747 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3700.078 |
3250.552 |
2255.623 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
30.980 |
29.983 |
44.771 |
|
(d) long-term provisions |
2.532 |
1.724 |
1.031 |
|
Total Non-current Liabilities (3) |
3733.590 |
3282.259 |
2301.425 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
264.974 |
229.020 |
191.992 |
|
(b) Trade payables |
45.679 |
36.521 |
41.328 |
|
(c) Other current
liabilities |
105.275 |
107.353 |
109.710 |
|
(d) Short-term provisions |
8.786 |
4.140 |
33.208 |
|
Total Current Liabilities (4) |
424.714 |
377.034 |
376.238 |
|
|
|
|
|
|
TOTAL |
4646.373 |
4515.088 |
3898.410 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4435.116 |
3300.293 |
3258.655 |
|
(ii) Intangible Assets |
17.561 |
20.192 |
21.820 |
|
(iii) Capital
work-in-progress |
54.623 |
885.646 |
479.209 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
32.813 |
24.229 |
8.996 |
|
(e) Other Non-current assets |
2.015 |
22.661 |
0.000 |
|
Total Non-Current Assets |
4542.128 |
4253.021 |
3768.680 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
21.579 |
22.088 |
28.521 |
|
(c) Trade receivables |
18.216 |
16.842 |
16.243 |
|
(d) Cash and cash
equivalents |
28.371 |
202.006 |
33.560 |
|
(e) Short-term loans and
advances |
16.339 |
4.051 |
3.851 |
|
(f) Other current assets |
19.740 |
17.080 |
47.555 |
|
Total Current Assets |
104.245 |
262.067 |
129.730 |
|
|
|
|
|
|
TOTAL |
4646.373 |
4515.088 |
3898.410 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
487.094 |
447.293 |
119.465 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
453.377 |
415.937 |
174.070 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
453.377 |
415.937 |
174.070 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
33.717 |
31.356 |
(54.605) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
271.349 |
276.494 |
110.693 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(237.632) |
(245.138) |
(165.298) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
125.624 |
115.051 |
47.112 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, AND PERIOD ADJUSTMENTS |
(363.256) |
(360.189) |
(212.410) |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ADJUSTMENTS |
4.470 |
4.763 |
2.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(367.726) |
(364.952) |
(215.320) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(367.726) |
(364.952) |
(215.320) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(580.272) |
(215.320) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(947.998) |
(580.272) |
(215.320) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales of Room / F&B Income |
223.720 |
205.779 |
49.108 |
|
|
TOTAL EARNINGS |
223.720 |
205.779 |
49.108 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Store Supplies and Spares Parts |
2.320 |
1.724 |
11.026 |
|
|
|
Food and Beverage |
4.952 |
0.812 |
5.146 |
|
|
|
Capital Goods |
94.852 |
96.250 |
127.353 |
|
|
TOTAL IMPORTS |
102.124 |
98.786 |
143.525 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(10.51) |
(10.44) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(75.49)
|
(81.59) |
(180.24) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.01)
|
(10.06) |
(6.30) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.75)
|
(0.43) |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
8.12
|
4.07 |
2.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.25
|
0.70 |
0.34 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
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 |
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 |
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 |
Yes |
BACKGROUND:
Subject is in
business of Construction and operation of 5 Star Hotel and Suites at Pune under
the brand name of “Hyatt Regency”. The Company has commenced commercial operations
of its Hotel block consisting of Rooms on 26th October 2010. The
Project consisting of Hyatt Regency Suites is presently under construction.
PERFORMANCE OF THE
COMPANY
Hyatt Regency Pune, completed its first full year of operations in November 2012. The full inventory of 222 rooms in the hotel block. Serviced Apartments got completed during the 2012-2013 and were made operational w.e.f. 7th February 2013 upon receipt of Occupancy Certificate. Hyatt Regency Pune in the only hotel in Pune having serviced apartments as well as hotel rooms, which is a unique selling point. This will assist in getting major long term corporate contracts. The occupancy of the apartments will also boost in generating additional revenue in various outlets of the Hotel e.g. Food and beverage outlets, Spa, Laundry and other revenue centers.
During the Financial Year 2012-2013, the Company earned a total income of Rs. 487.094 Millions its against Rs. 447.293 Millions of the previous Financial Year which includes revalue from its hotel operation of Rs.. 479.373 Millions against revenue of Rs. 423.523 Millions of the previous Financial Year-
Financial Year 2012-13 witnessed a growth in Total revenue of 13.18% from hotel operations compared to previous year. The EBITDA (Operating) for Financial Year 2012-2013 stood at Rs.33.713 Millions as against Rs. 31.356 Millions of previous financial year i.e 7.5% gow4h in EBITDA. The Operating Expenses have increased marginally due to inflation which is further controlled by various cost saving measures on staffing, energy consumption and other areas thereby the increase in revenue has substantially flaw down to the bottom line.
During the financial year 201-13, ARR stood at Rs.5794 at a occupancy of 49.2% against the previous financial year 2011-12, ARR of Rs.1910 at a occupancy of 42.4%
During the year company has incurred cash loss of Rs.24.210 Millions mainly on account of interest expense.
UNSECURED
LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM BORROWING
|
|
|
|
From Related Party |
30.700 |
22.500 |
|
From Other |
206.650 |
272.350 |
|
SHORT TERM
BORROWING |
|
|
|
From Others |
215.039 |
50.000 |
|
Total |
452.389 |
344.850 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10330822 |
25/11/2011 |
2,970,000,000.00 |
DBS BANK LIMITED |
UPPER GROUND FLOOR,, 25, BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA |
B30250484 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Air Conditioner
·
Furniture and Fixtures
·
Office Equipments
·
Generator
·
Computers and Peripherals
·
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.62.23 |
|
|
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
26 |
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.