|
Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUTURE MEDIA ( |
|
|
|
|
Registered
Office : |
Knowledge House, Shyam Nagar Jogeshwari - |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.03.2006 |
|
|
|
|
Com. Reg. No.: |
11-160375 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 774.090
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74300MH2006PLC160375 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF04646F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF9652Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Advertising and Media Services. |
|
|
|
|
No. of Employees
: |
17 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Future Retail Limited. It is an established company having a moderate track record. There appears some accumulated losses recorded by the company. However, no borrowing recorded
by the company during current year. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. In view of strong holding, the company can be considered for business
dealings with some cautions. |
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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Jignesh Patel |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-66927247 |
|
Date : |
26.12.2013 |
LOCATIONS
|
Registered Office : |
Knowledge House, Shyam Nagar Jogeshwari - Vikhroli Link Road,
Jogeshwari (East), Mumbai – 400060, Maharashtra, India |
|
Tel. No.: |
91-22-66442200 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
Retail Home Office, Tower C, 7th Floor, 247 Park, LBS Marg,
Vikhroli (West), Mumbai – 400083, Maharashtra, India |
|
Tel. No.: |
91-22-61190000 |
|
|
|
|
Zonal Offices : |
Located at: Ø Mumbai Ø Gurgaon Ø Bangalore Ø Kolkata |
|
|
|
|
Regional Offices : |
Located at: Ø Hyderabad Ø Ahmedabad Ø Pune |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Kishore Laxminarayan Biyani |
|
Designation : |
Director |
|
Address : |
406, Jeevan Vihar,
Manav Mandir Road, Malabar Hill, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
09.08.1961 |
|
Qualification : |
B. Com, PGD in
Marketing Management |
|
Date of Appointment : |
23.11.2007 |
|
DIN No.: |
00005740 |
|
|
|
|
Name : |
Mr. Chandra Prakash Toshniwal |
|
Designation : |
Director |
|
Address : |
A-603,
'Kanishk', Great Eastern Link, Ram Mandir Road, Goregaon (West), Mumbai -
400104, Maharashtra, India |
|
Date of Birth/Age : |
29.09.1966 |
|
Qualification : |
B. Com, ACA, ACS |
|
Date of Appointment : |
31.03.2008 |
|
DIN No.: |
00036303 |
|
|
|
|
Name : |
Mr. Atul Kapur |
|
Designation : |
Nominee director |
|
Address : |
21, Holland
Park, Lien Towers # 7-21 Singapore - 249476 |
|
Date of Birth/Age : |
22.06.1963 |
|
Qualification : |
B. Com, ACA |
|
Date of Appointment : |
19.06.2008 |
|
DIN No.: |
01778935 |
|
|
|
|
Name : |
Mr. Ramasubramanian Iyer Sridhar |
|
Designation : |
Additional director |
|
Address : |
Plot No.: C, Flat No.: 302, C Wing Vasant Galaxy Jupiter CHSl, Bangur
Nagar, M G Road, Goregaon (West), Mumbai – 400090, Maharashtra, India |
|
Date of Appointment : |
14.12.2012 |
|
DIN No.: |
01915361 |
KEY EXECUTIVES
|
Name : |
Mr. Jignesh Patel |
|
Designation : |
Finance Manager |
|
|
|
|
Name : |
Mr. Anant Shripad Gude |
|
Designation : |
Secretary |
|
Address : |
B-13, Rishikesh,
Evershine Nagar, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Date of Appointment : |
06.08.2007 |
|
PAN No.: |
ACCPG6867B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Pantaloon Retail
(India) Limited, India |
|
27378741 |
|
Pantaloon Retail
(India) Limited, India Jointly with Mr. Chandra Prakash Toshniwal |
|
1 |
|
Pantaloon Retail
(India) Limited, India Jointly with Mr. Kudeep Sharma |
|
1 |
|
Pantaloon
Industries Limited, India Jointly with Mr. Vimal Dhruve |
|
1 |
|
Pantaloon
Industries Limited, India Jointly with Mr. Rajesh Kalyani |
|
1 |
|
Pantaloon
Industries Limited, India jointly with Mr. Pankaj Patel |
|
1 |
|
Future Corporate
Resources Limited, India |
|
787878 |
|
Mr. Pradeep Guha |
|
7575 |
|
Manz Retail Private
Limited, India |
|
984841 |
|
Matrix
Publicities and Media India Private Limited, India |
|
250000 |
|
|
|
|
|
Total |
|
29409040 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Indivision India Partners, Mauritius |
|
4800000 |
|
Total |
|
4800000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
99.70 |
|
Directors or relatives of Directors |
0.30 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Advertising and Media Services. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Ø Tata Nano Ø Tata Manza Ø Parle Ø Set Max – DLF IP
5 Ø Visa Ø Sab Tv Colors Ø Star Plus Ø ITC Ø Yamaha Ø Asix Bank Ø Aircel Ø Airtel Ø Zee TV Flying
Machine |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
17 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Axis
Bank Limited, Corporate Banking Branch, Bombay Dying Mills Compound, Ground Floor,
Pandurang Budhakar Marg, Worli, Mumbai - 400025,Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
6th Floor, Express Towers, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
|
|
|
|
Holding Company: |
·
Future Retail Limited, India (formerly known as
Pantaloon Retail (India) Limited CIN: L52399MH1987PLC044954 |
|
|
·
|
|
Fellow
Subsidiaries: |
·
Futurebazaar India Limited ·
Future Supply Chain Solutions Limited ·
Future Value Retail Limited, India CIN: U52100MH2007PLC171524 ·
Future Learning and Development Limited, India CIN: U74999MH2008PLC181051 ·
Future E-Commerce Infrastructure Limited, India CIN: U52399MH2007PLC171178 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 350.000 Millions |
|
4,800,000 |
Preference Shares |
Rs. 100/- each |
Rs. 480.000 Millions |
|
|
Total |
|
Rs. 830.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29,409,040 |
Equity Shares |
Rs. 10/- each |
Rs. 294.090
Millions |
|
4,800,000 |
Preference Shares |
Rs. 100/- each |
Rs. 480.000
Millions |
|
|
Total |
|
Rs. 774.090 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 |
774.090 |
774.090 |
505.000 |
|
(b) Reserves & Surplus |
(319.832) |
(156.449) |
(167.641) |
|
(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) |
454.258 |
617.641 |
337.359 |
|
|
|
|
|
|
(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 |
2.097 |
1.921 |
1.170 |
|
Total Non-current Liabilities (3) |
2.097 |
1.921 |
1.170 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
45.806 |
44.440 |
|
(b) Trade payables |
6.054 |
35.358 |
162.690 |
|
(c) Other current
liabilities |
125.280 |
115.627 |
114.647 |
|
(d) Short-term provisions |
1.415 |
5.234 |
9.864 |
|
Total Current Liabilities (4) |
132.749 |
202.025 |
331.641 |
|
|
|
|
|
|
TOTAL |
589.104 |
821.587 |
670.170 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.415 |
30.342 |
67.616 |
|
(ii) Intangible Assets |
164.647 |
241.825 |
287.789 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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 |
125.188 |
125.829 |
|
(d) Long-term Loan and Advances |
21.317 |
24.361 |
44.215 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
193.379 |
421.716 |
525.449 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
239.700 |
158.375 |
107.415 |
|
(d) Cash and cash
equivalents |
0.178 |
0.854 |
35.156 |
|
(e) Short-term loans and
advances |
155.847 |
240.642 |
2.150 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
395.725 |
399.871 |
144.721 |
|
|
|
|
|
|
TOTAL |
589.104 |
821.587 |
670.170 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
292.799 |
419.937 |
323.116 |
|
|
|
Other Income |
19.309 |
12.453 |
2.497 |
|
|
|
TOTAL (A) |
312.108 |
432.390 |
325.613 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
0.000 |
0.000 |
190.037 |
|
|
|
Employee benefit expense |
61.167 |
50.114 |
51.070 |
|
|
|
Other expenses |
187.476 |
285.481 |
53.512 |
|
|
|
TOTAL (B) |
248.643 |
335.595 |
294.619 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
63.465 |
96.795 |
30.994 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.330 |
3.073 |
7.311 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
62.135 |
93.722 |
23.683 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
100.330 |
81.888 |
73.114 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(38.195) |
11.834 |
(49.431) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
125.188 |
0.642 |
(20.846) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(163.383) |
11.192 |
(28.585) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(5.56) |
0.51 |
(11.43) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(52.35)
|
2.59 |
(8.78) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(13.04)
|
2.82 |
(15.30) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.48)
|
1.44 |
(7.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08)
|
0.02 |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.07 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.98
|
1.98 |
0.44 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
BUSINESS OPERATIONS
During the year, the
Company has taken various new initiatives and cracked few good business deals
such as Axis Bank’s association as Banking Partner for various festivals
organized by Central, Home Town and E Zone stores and deal with Maruti Estilo
for sponsoring Monthly Bachat Bazaar.
The Company has
also changed its strategy and instead of relying on few major clients, the
Company is now pitching for more and more clients although their volume of
business may not be very big.
During the year
the shortfall in revenue was because the Company lost its 3 major clients viz.
Tata Motors, Parle and Visa. The reason for loss of those clients was because
although the Company had full control on display of clients products in the
stores and generate leads; the Clients expected most of such leads to convert
into the sale, where in fact, the Company had no role to play.
With regard to
Future TV, the Company has completely revised the technology for the medium to
save on cost of running the same. The Company has also kept in place a
dedicated sales team for the medium who has been successful in also selling SOH
to their regular clients.
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10097257 |
31/03/2012 * |
50,000,000.00 |
AXIS BANK LIMITED |
CORPORATE
BANKING BRANCH, BOMBAY DYING MILLS COMPD, GROUND FLOOR, PANDURANG BUDHAKAR
MARG, WORLI, M |
B40030868 |
FIXES ASSETS
·
Tangible assets
·
Plant and equipment
·
Furniture and fixtures
·
Intangible assets
·
Patents
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.62.06 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
31 |
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.