MIRA
INFORM REPORT
|
Report Date : |
05.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUVIDHAA INFOSERVE PRIVATE LIMITED |
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Registered
Office : |
Hi |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
22.06.2007 |
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Com. Reg. No.: |
11-171937 |
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Capital
Investment / Paid-up Capital : |
Rs.87.326 Millions |
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CIN No.: [Company Identification
No.] |
U72900MH2007PTC171937 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMSE6354E |
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PAN No.: [Permanent Account No.] |
AAKCS9448K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider and Travel
Tourism |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company is continuously incurring losses from its operation due to
which the position of reserves seems to be heavily deteriorating. However, there are no external borrowing recorded in the books during
2013. The rating also take into consideration the timely infusion of funds
from the part of the promoters. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. In view strong promoters the company can be considered normal for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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.
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.
LOCATIONS
|
Registered Office/Corporate Office : |
Hi |
|
Tel. No.: |
91-22-67765300 |
|
Fax No.: |
91-22-64465200 |
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E-Mail : |
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|
Website : |
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Regional Office : |
10 - C, 10th Floor, |
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Tel. No.: |
91-11-45634705 / 45634700 / 45634707 |
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Fax No.: |
91-11-45084936 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Paresh Jamnadas Rajde |
|
Designation : |
Managing director |
|
Address : |
A - 1401 , Rahul
Towers, R P Road , Mulund West, Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1965 |
|
Date of Appointment : |
22.06.2007 |
|
DIN No.: |
00016263 |
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PAN No.: |
AAAPR7138L |
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|
|
|
Name : |
Mr. Haresh Lakshmanlal Bathija |
|
Designation : |
Director |
|
Address : |
128, 4th Floor,
Pankaj Mansionc - Block, Dr. A. B. Road , Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
04.04.1971 |
|
Date of Appointment : |
08.09.2008 |
|
DIN No.: |
02445290 |
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|
|
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Name : |
Mr. Niren Narendra Shah |
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Designation : |
Director |
|
Address : |
304 , Shree
Sagar, 29 - C , |
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Date of Birth/Age : |
24.03.1973 |
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Date of Appointment : |
08.09.2008 |
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DIN No.: |
01794829 |
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|
Name : |
Mr. Kshitij Kumar Gupta |
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Designation : |
Director |
|
Address : |
B2- 3A, Telec Chs, Plot 30, Sector 17, Vashi, Navi Mumbai – 400703, Maharashtra, India |
|
Date of Birth/Age : |
22.05.1974 |
|
Date of Appointment : |
22.11.2012 |
|
DIN No.: |
03146879 |
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|
|
|
Name : |
Mr. Keitaro Hatori |
|
Designation : |
Director |
|
Address : |
3-12-6 Higashigotanda, Shinagawa-Ku Tokyo 1410022 |
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Date of Birth/Age : |
02.08.1967 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
05298890 |
KEY EXECUTIVES
|
Name : |
Mrs. Vijeta Sudhir Salian |
|
Designation : |
Secretary |
|
Address : |
B/106, Ave Maria, I.C. Colony, Borivali (West), Mumbai – 400103,
Maharashtra, India |
|
Date of Birth/Age : |
11.07.1988 |
|
Date of Appointment : |
07.11.2011 |
|
PAN No.: |
CRKPS6863E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Rajde Jamnadas Paresh |
|
6067360 |
|
Mistry Pallonji Shapoor |
|
3000000 |
|
Turbo Telecom Private Limited, India |
|
950000 |
|
Bhathija L Haresh |
|
57900 |
|
Norwest Venture Partners X – |
|
57900 |
|
Jha Alok |
|
82007 |
|
Total |
|
10215167 |
|
Names of Shareholders
(Preference Shares) |
|
No. of Shares Class
A |
|
Norwest Venture Partners X – Mauritius |
|
7237980 |
|
Reliance Capital Limited, India |
|
7237980 |
|
Total |
|
14475960 |
|
Names of Shareholders
(Preference Shares) |
|
No. of Shares Class
B |
|
Norwest Venture Partners X – Mauritius |
|
2417325 |
|
Reliance Capital Limited, India |
|
369709 |
|
International Finance Corporation, USA |
|
7109780 |
|
Total |
|
9896814 |
|
Names of Shareholders
(Preference Shares) |
|
No. of Shares Class
C |
|
Norwest Venture Partners X – Mauritius |
|
199666 |
|
International Finance Corporation, USA |
|
1197999 |
|
Mitsuk and Company Limited, Japan
|
|
9583983 |
|
Total |
|
10981648 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.57 |
|
Bodies corporate |
9.30 |
|
Directors or relatives of Directors |
59.69 |
|
Other top fifty shareholders |
30.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider and Travel
Tourism |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Axis Bank Limited, Corporate Centre, Ground Floor, Cts No.271, Andheri
Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
B S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1St Floor, Apollo Mills
Compound, N.M. Joshi Marg, Mahalakshmi, Mumbai, India |
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PAN No.: |
AAIFB4734C |
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|
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
· Suvidhaa Infoway Private Limited · Norwest Ventures · International Finance Corporation · Mitsui and Company Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.1/- each |
Rs.15.000 Millions |
|
15000000 |
Preferences Shares (Class ‘A’) |
Rs.1/- each |
Rs.15.000 Millions |
|
10000000 |
Preferences Shares (Class ‘B’) |
Rs.3/- each |
Rs.30.000 Millions |
|
12000000 |
Preferences Shares (Class ‘C’) |
Rs.3/- each |
Rs.36.000 Millions |
|
|
Total |
|
Rs.96.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10215167 |
Equity Shares |
Rs.1/- each |
Rs.10.215 Millions |
|
14475960 |
Preferences Shares (Class ‘A’) |
Rs.1/- each |
Rs.14.476 Millions |
|
9896814 |
Preferences Shares (Class ‘B’) |
Rs.3/- each |
Rs.29.690 Millions |
|
10981648 |
Preferences Shares (Class ‘C’) |
Rs.3/- each |
Rs.32.945 Millions |
|
|
Total |
|
Rs.87.326
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 |
87.326 |
83.052 |
54.300 |
|
(b) Reserves & Surplus |
423.815 |
528.098 |
113.483 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
511.141 |
611.150 |
167.783 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.651 |
4.513 |
3.210 |
|
Total Non-current Liabilities (3) |
5.651 |
4.513 |
3.210 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
7.096 |
15.212 |
11.222 |
|
(c) Other current
liabilities |
176.870 |
125.069 |
108.502 |
|
(d) Short-term provisions |
0.575 |
0.530 |
0.413 |
|
Total Current Liabilities (4) |
184.541 |
140.811 |
120.137 |
|
|
|
|
|
|
TOTAL |
701.333 |
756.474 |
291.130 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.714 |
14.257 |
9.760 |
|
(ii) Intangible Assets |
46.584 |
54.692 |
11.941 |
|
(iii) Capital work-in-progress |
1.073 |
0.000 |
7.986 |
|
(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 |
30.040 |
15.844 |
11.170 |
|
(e) Other Non-current assets |
107.025 |
6.100 |
32.100 |
|
Total Non-Current Assets |
196.436 |
90.893 |
72.957 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
36.404 |
27.133 |
0.000 |
|
(d) Cash and cash
equivalents |
389.467 |
535.337 |
151.700 |
|
(e) Short-term loans and
advances |
58.694 |
92.749 |
64.631 |
|
(f) Other current assets |
20.332 |
10.362 |
1.842 |
|
Total Current Assets |
504.897 |
665.581 |
218.173 |
|
|
|
|
|
|
TOTAL |
701.333 |
756.474 |
291.130 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
196.872 |
127.883 |
81.437 |
|
|
|
Other Income |
45.433 |
26.028 |
8.375 |
|
|
|
TOTAL |
242.305 |
153.911 |
89.812 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
422.803 |
290.154 |
228.831 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
422.803 |
290.154 |
228.831 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(180.498) |
(136.243) |
(139.019) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.763 |
7.261 |
4.484 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(197.261) |
(143.504) |
(143.503) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(0.140) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(197.261) |
(143.364) |
(143.503) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(543.675) |
(400.311) |
(256.808) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(740.936) |
(543.675) |
(400.311) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(19.46) |
(14.16) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(81.41)
|
(93.15) |
(159.78) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(100.20)
|
(112.22) |
(176.21) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(28.17)
|
(18.97) |
(50.68) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.39)
|
(0.23) |
(0.86) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.74
|
4.73 |
1.82 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
The registered office of the company has been shifted from
9, Senior Estate, 7-C, Parsi Panchayat Road, Andheri (East), Mumbai – 400059,
Maharashtra, India to present address w.e.f. 15.10.2010
COMPANY OVERVIEW
Subject was incorporated on 22 June 2007 with an aim to aggregate, commoditize and distribute services in most convenient form to the consumers using Information Technology (‘IT’). The Company assists service providers in bridging the gap of time, accessibility and convenience by the use of the IT innovations, providing convenience and value to customers who are looking for travel, utility, remittance and recharge related services.
REVIEW OF OPERATION /
STATE OF COMPANY’S AFFAIRS:
During the year, the Company has incurred a total expenditure of Rs. 439.566 Millions for the year ended March 31, 2013 as compared to Rs. 297.416 Millions for the year ended March 31, 2012, due to wide expansion of business. The net loss for the year has been Rs.197.261 Millions as against loss of Rs. 143.364 Millions during the previous year.
As known to the members, the Company acts as an aggregator and thereby distributes the services in a most feasible and speedy manner using IT innovations, to the ultimate consumers with an objective to provide convenience and value to all its customers. The Company believes in spreading equality in the society as a result of which the strategies framed are such that the benefits of the services are obtained by the people living in most of the cities, towns and villages.
With the commitment to develop new strategies and in the process of influencing business transformations during the year, has lead to robust change in the development of the Company which has taken the Company to a new level of opportunities, the advantages of which is distributed to the customers of the Company. The Directors are continuously looking for avenues for future growth of the Company in Service Industry.
During the year, inter-alia the Company has been associated with Key Business Brands like Cleartrip for Ticket Bookings, TATA AIA for premium collection etc. The Company is putting in continuous and deliberate efforts to widen the bouquet of services so as to enable the customers to avail the benefits of services under one roof.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Furniture and fixtures
· Vehicles
· Computer equipments
·
Other equipments
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.62.33 |
|
|
1 |
Rs.102.18 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.