|
Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
GREY WORLDWIDE (INDIA) PRIVATE LIMITED
|
|
|
|
|
Registered
Office : |
Grey House, 28 Dr. E. Borges Road, Opposite Dr. Shirodkar High School,
Parel, Mumbai – 400012, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
04.09.1975 |
|
|
|
|
Com. Reg. No.: |
11-018529 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.38.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1975PTC018529 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Advertising Agencies. |
|
|
|
|
No. of Employees
: |
Information declined by management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1650000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of WPP Group PLC. It is an established company
having a satisfactory track record. The management has failed to file its financial with government
department for the year 2013. As per available financial of 2012, profitability of the company seems
to be fair. General financial position of the company appears to be sound and
healthy. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE
Contact No.: 91-22-40366363
LOCATIONS
|
Registered Office : |
Grey House, 28 Dr. E. Borges Road, Opposite Dr. Shirodkar High School,
Parel, Mumbai – 400012, Maharashtra, India |
|
Tel. No.: |
91-22-40366363 |
|
Fax No.: |
91-22-40366220 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 25.06.2013)
|
Name : |
Mr. Nirvik Manmohan Singh |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Flat No.11, South 11th Floor, Kanchan Gunga Peddar Road,
Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
23.08.1963 |
|
Date of Appointment : |
10.03.2000 |
|
DIN No.: |
01570572 |
|
|
|
|
Name : |
Mr. Wei Ping Loh |
|
Designation : |
Director |
|
Address : |
19 Simei Street 4, #07-17, Double Bay Residences, Singapore - 529885 |
|
Date of Birth/Age : |
30.12.1969 |
|
Date of Appointment : |
10.01.2008 |
|
DIN No.: |
01838793 |
|
|
|
|
Name : |
Mr. Matthew Schetlick |
|
Designation : |
Director |
|
Address : |
26, Homesdale Road, Bronxville, New York 10708, United States of
America |
|
Date of Birth/Age : |
20.01.1966 |
|
Date of Appointment : |
15.01.2005 |
|
DIN No.: |
01895225 |
|
|
|
|
Name : |
Mr. Sujit Sen |
|
Designation : |
Additional Director |
|
Address : |
A/303, Pluto, Vasant Galaxy, Bangur Nagar, Goregaon West, Mumbai –
400104, Maharashtra, India |
|
Date of Birth/Age : |
15.08.1960 |
|
Date of Appointment : |
25.06.2013 |
|
DIN No.: |
06382231 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 25.06.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Grey India Inc., United States of America |
|
188260 |
|
Advertising Ventures Private Limited, Mauritius |
|
191740 |
|
|
|
|
|
Total |
|
380000 |
(AS ON 30.06.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Advertising Agencies. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management. |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th - 32nd Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400013, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company : |
·
Advertising Ventures Private Limited |
|
|
|
|
Ultimate Holding Company : |
· WPP Group Plc. |
|
|
|
|
Enterprise Controlling the Company : |
· Grey Global Group Inc. · Grey Advertising Inc. |
|
|
|
|
Subsidiary Companies – Enterprises under the control of the company : |
· Trikaya Communications Private Limited · Batey India Private Limited · Options Communications Private Limited · Grey First Serve Advertising Private Limited |
|
|
|
|
Fellow Subsidiaries – Companies under common Control : |
· Grey Advertising Limited · Grey Worldwide Sdn, Bhd. · Grey group PTE Limited · Grey Advertising (Hongkong) Limited · Landor Associates USA · Landor Associates Europe Limited · Landor Associates Designers and Consultants PTE Limited, Singapore · Campaign and Grey · Grey Worldwide, Korea · Grey Newyork · Grey Worldwide, London · Grey Australia · Grey Global Group, Vietnam · Grey Indonesia · Grey Japan · Grey Maxxico · Grey Two Sdn. Bhd. · Grey Worldwide Middle East Network · G2 Inc., Newyork · G2, London · Grey Worldwide GMBH, Germany · Hindustan Thompson Associates Limited · G2 Rams India Private Limited · Group M Media India Private Limited · WPP 2005 Limited · Oglivy and Mather Private Limited |
CAPITAL STRUCTURE
(AS ON 25.06.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
447500 |
Equity Shares |
Rs.100/- each |
Rs.44.750 Millions |
|
3000 |
4% Non-Cumulative/ Non-Participating Redeemable Preference Shares |
Rs.1/- each |
Rs.0.003 Million |
|
2470 |
Non-Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.0.247 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.45.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
380000 |
Equity Shares |
Rs.100/- each |
Rs.38.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
38.000 |
38.000 |
|
(b) Reserves & Surplus |
|
374.751 |
356.293 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
|
412.751 |
394.293 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
19.697 |
18.652 |
|
Total Non-current
Liabilities (3) |
|
19.697 |
18.652 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
65.000 |
75.000 |
|
(b) Trade
payables |
|
163.099 |
170.452 |
|
(c)
Other current liabilities |
|
19.360 |
18.568 |
|
(d) Short-term
provisions |
|
2.444 |
1.940 |
|
Total Current
Liabilities (4) |
|
249.903 |
265.989 |
|
|
|
|
|
|
TOTAL |
|
682.351 |
678.934 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
25.946 |
33.123 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2.341 |
2.341 |
|
(c) Deferred tax assets (net) |
|
15.854 |
14.531 |
|
(d) Long-term Loan and Advances |
|
88.688 |
56.691 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
132.829 |
106.686 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
457.034 |
437.248 |
|
(c)
Trade receivables |
|
27.744 |
17.052 |
|
(d) Cash
and cash equivalents |
|
17.031 |
43.749 |
|
(e)
Short-term loans and advances |
|
47.713 |
74.199 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
549.522 |
572.248 |
|
|
|
|
|
|
TOTAL |
|
682.351 |
678.934 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
38.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
314.384 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
352.384 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
352.384 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
25.525 |
|
|
Capital work-in-progress |
|
|
2.101 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.341 |
|
|
DEFERREX TAX ASSETS |
|
|
16.821 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
415.583 |
|
|
Cash & Bank Balances |
|
|
14.641 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
291.161 |
|
Total
Current Assets |
|
|
721.385 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
326.674 |
|
|
Other Current Liabilities |
|
|
51.118 |
|
|
Provisions |
|
|
37.997 |
|
Total
Current Liabilities |
|
|
415.789 |
|
|
Net Current Assets |
|
|
305.596 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
352.384 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
549.060 |
550.252 |
468.888 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
508.534 |
472.680 |
387.719 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
40.526 |
77.572 |
81.169 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.839 |
12.272 |
11.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
25.687 |
65.300 |
70.148 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.229 |
23.391 |
26.367 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
18.458 |
41.909 |
43.781 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
351.442 |
309.533 |
265.752 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
369.900 |
351.442 |
309.533 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
103.336 |
135.393 |
NA |
|
|
|
Dividend |
4.168 |
0.000 |
NA |
|
|
|
Other Earnings |
11.289 |
20.813 |
NA |
|
|
TOTAL EARNINGS |
118.793 |
156.206 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
48.57 |
110.29 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.36
|
11.87 |
14.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.87
|
9.86 |
9.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.17 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.16
|
0.19 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20
|
2.15 |
1.73 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY OF
LONG TERM BORROWINGS DETAIL: 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 |
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOANS
|
Particulars |
31.12.2012 |
31.12.2011 |
|
|
(Rs. In Millions) |
|
|
Short Term
borrowings |
|
|
|
Loans From a Banks |
65.000 |
75.000 |
|
|
|
|
|
Total |
65.000 |
75.000 |
FINANCIAL RESULTS
Year 2012 was a tough year in terms of revenue
growth, Revenue for 2012 was flat as the major clients Bharti AXA, Indian Oil
Corporation, Parle Products reduced their 2012 marketing spends. However they
continued to expand their client roster with high profile new business wins
including Dell, DHL, Procter and Gamble (Brand: Duracell and Downy) Digital
Business grew in revenue and they were awarded significant new assignments from
their time clients.
CONTINGENT LIABILITIES
|
Particulars |
31.12.2012 |
31.12.2011 |
|
|
(Rs. In
Millions) |
|
|
Service Tax |
23.778 |
23.778 |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Furniture and Fixtures
· Building
· Office Equipment
· Computer
· 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 records 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.62.13 |
|
|
1 |
Rs.101.53 |
|
Euro |
1 |
Rs.85.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.