MIRA INFORM REPORT
|
Report Date : |
23.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOFTCELL
TECHNOLOGIES LIMITED (w.e.f. 08.01.2001) |
|
|
|
|
Formerly Known
As : |
SOFTCELL TRADE
AND TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
303-304, 3rd
Floor, Kohinoor City, Commercial Complex, I. B. Wing, Kirol Road, Off L.B.S.
Marg, Kurla (West), Mumbai - 400070, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.04.1995 |
|
|
|
|
Com. Reg. No.: |
11-087330 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 41.642 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1995PLC087330 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMS37242C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS0965J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Software and services
business, addressing the PC and networks space. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2620000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established company having a satisfactory track
record. Financially company has performed well during the current year.
Liquidity position of the company seems to be strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal 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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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 (Tel. No.: 91-22-66006700)
LOCATIONS
|
Registered Office : |
303-304, 3rd Floor, Kohinoor City, Commercial Complex, I. B. Wing,
Kirol Road, Off L.B.S. Marg, Kurla (West), Mumbai - 400070, Maharashtra,
India |
|
Tel. No.: |
91-22-66006700 / 24606969 |
|
Fax No.: |
91-22-66006701 |
|
E-Mail : |
|
|
Website : |
|
|
|
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|
Corporate Office : |
504, Mayfair Towers, 28,
Mumbai-Pune Road, Wakdewadi, Pune -
411005 |
|
Tel. No.: |
91-20-6600-6700 |
|
Fax No.: |
91-20-6600-6701 |
|
|
|
|
Branch Office : |
Located at
|
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Sunil Pandurang Dalal |
|
Designation : |
Chairman, Managing Director |
|
Address : |
Flat No1, Sharad Vaibhav Appt, Gokhale Cross Road, Model Colony, Pune
– 411016, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1963 |
|
Qualification : |
MMS Finance |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
ADWPD4013B |
|
DIN No.: |
00232753 |
|
|
|
|
Name : |
Mr. Harish Chandrashekar Aiyer |
|
Designation : |
Whole Time Director |
|
Address : |
303, Ratnasagar, Sector 29, Vashi, Navi Mumbai-400703, Maharashtra,
India |
|
Date of Birth/Age : |
06.11.1962 |
|
Qualification : |
MBA Marketing and Systems |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
AABES1218C |
|
DIN No.: |
00233168 |
|
|
|
|
Name : |
Mr. Dasharathi Heramagalur Venkatesh |
|
Designation : |
Whole Time Director |
|
Address : |
A5, Paradise Towers, 2/1, Baner Road Baner, Pune - 400 059, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1963 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
ACJPV1698L |
|
DIN No.: |
02391495 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
||
|
Sunil Pandurang Dalal |
|
1491004 |
||
|
Sharayu Pandurang Dalal |
|
400 |
||
|
Ujwal Narayan Andhari |
|
218490 |
||
|
Sanjoy T Roy |
|
85152 |
||
|
Dasharathi Heramagalur Venkatesh |
|
565000 |
||
|
Harish Chandrashekar Aiyer |
|
80814 |
||
|
Debashish Sateyndra Basu |
|
10400 |
||
|
Praveen Suryakant Sawant |
|
80814 |
||
|
Jayant Kadambi |
|
62500 |
||
|
L R Narayanan |
|
40000 |
||
|
Dalal Gawde |
P P |
Sunil Raghunath Softcell Employee Trust |
|
414500 |
|
HDFC Bank Limited, India |
|
499702 |
||
|
Housing Development Finance Corporation Limited, India |
|
499702 |
||
|
Parekh Yennemadi Thakar |
S. |
Deepak Vinod S. HDFC Welfare Employees Trust |
|
83285 |
|
Mukesh Babu Financial Services Limited, India |
|
5000 |
||
|
Hansa Parimal Parekh |
|
3200 |
||
|
Balance Equity Broking India Private Limited, India |
|
9800 |
||
|
Raghunath
Pandurang Gawde |
|
4925 |
||
|
Premananth
Pitchamuthu |
|
2250 |
||
|
Sai Gopal
Pullabhatla |
|
2000 |
||
|
Veeraragvan
Gopalan |
|
1500 |
||
|
Rajaraman
Parasuraman |
|
1000 |
||
|
Gandhali Neeraj
More |
|
500 |
||
|
Shrinivas Ramkrishna Patankar |
|
2250 |
||
|
Total |
|
4164188 |
||
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Nationalised of
other banks |
12.00 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
1.50 |
|
Bodies corporate |
12.36 |
|
Directors or relatives of Directors |
51.57 |
|
Other top fifty shareholders |
22.57 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Software and
services business, addressing the PC and networks space. |
||||
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|
|
||||
|
Products / Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||
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|||||||||
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Bankers : |
|
|||||||||
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|||||||||
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anay Gogte and Company Chartered Accountants |
|
Address : |
1/F-6, Krishna
Nagar, Chandavarkar Road, Borivali (West), Mumbai-400092, Maharashtra, India |
|
PAN No.: |
AAIPG0263F |
|
|
|
|
Related Parties : |
CIN No.: L70100MH1977PLC019916
CIN No.: L65920MH1994PLC080618
CIN No.: U67120MH2000PLC152193 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4164188 |
Equity Shares |
Rs.10/- each |
Rs.41.642
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
41.642 |
41.642 |
41.642 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
614.695 |
174.138 |
160.238 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
656.337 |
215.780 |
201.880 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
28.842 |
30.838 |
31.267 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
28.842 |
30.838 |
31.267 |
|
|
DEFERRED TAX LIABILITIES |
8.318 |
5.082 |
3.584 |
|
|
|
|
|
|
|
|
TOTAL |
693.497 |
251.700 |
236.731 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
122.919 |
53.907 |
45.351 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.732 |
2.540 |
0.778 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.934
|
4.235
|
4.880 |
|
|
Sundry Debtors |
246.914
|
269.861
|
380.458 |
|
|
Cash & Bank Balances |
38.478
|
44.809
|
62.091 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.708 |
|
|
Loans & Advances |
827.732
|
877.333
|
802.604 |
|
Total
Current Assets |
1124.058
|
1196.238
|
1250.741 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
259.669
|
789.156
|
860.997 |
|
|
Other Current Liabilities |
48.651
|
55.754
|
66.913 |
|
|
Provisions |
247.892
|
156.075
|
132.229 |
|
Total
Current Liabilities |
556.212
|
1000.985
|
1060.139 |
|
|
Net Current Assets |
567.846
|
195.253
|
190.602 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
693.497 |
251.700 |
236.731 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1330.916 |
1402.551 |
3.857 |
|
|
|
Other Income |
24.026 |
36.346 |
1103.165 |
|
|
|
TOTAL (A) |
1354.942 |
1438.897 |
1107.022 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
1053.504 |
1094.568 |
|
|
|
|
Employee benefit expense |
170.412 |
140.165 |
984.133 |
|
|
|
Other expenses |
166.038 |
119.860 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(6.699) |
0.646 |
|
|
|
|
Extraordinary
Items |
(543.320) |
0.000 |
|
|
|
|
TOTAL (B) |
839.935 |
1355.239 |
984.133 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
515.007 |
83.658 |
122.889 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.451 |
3.623 |
1.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
510.556 |
80.035 |
121.439 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.794 |
16.239 |
14.539 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
488.762 |
63.796 |
106.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
24.006 |
25.698 |
29.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
464.756 |
38.098 |
77.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
77.415 |
70.415 |
24.994 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
6.900 |
7.800 |
|
|
|
Dividend |
20.821 |
20.820 |
20.821 |
|
|
|
Tax on Dividend |
3.378 |
3.378 |
3.458 |
|
|
BALANCE CARRIED
TO THE B/S |
467.972 |
77.415 |
70.415 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
14.284 |
6.487 |
|
|
TOTAL EARNINGS |
0.000 |
14.284 |
6.487 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
111.61 |
9.15 |
18.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
34.30
|
2.65
|
7.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
36.72
|
4.55
|
2771.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
39.20
|
5.10
|
8.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.74
|
0.30
|
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.04
|
0.14
|
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.20
|
1.18 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
PARTICULARS
|
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
Sundry
Creditors
|
|
|
|
|
|
259.669 |
0.000 |
0.000 |
Creditors due others
|
|
789.156
|
860.997 |
Total
|
259.669
|
789.156
|
860.997 |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
PERFORMANCE
The Financial Year
(FY) 2011-12 continued to be a challenging year for the company. The challenges
have been particularly related to service tax implemented on distribution of
software which resulted in customers deducting TDS @ 10% on software sale. This
lead to a crunch in cashflow for the company. Overall the Company ended the
year with total income of about Rs. 1354.900 millions. Sales incomes could have
been higher but for the fact that the company allowed principals and
distributors to directly bill a lot of customers due to extreme dollar
fluctuation. Although the company was compensated for passing on such
opportunities, it muted the company’s sales incomes to some extent.
During the year,
the Directors also reviewed various businesses and decided to exit non-core businesses.
The Company continues to focus on consolidating its core businesses and is
committed to investing in training and enablement of its various team members
(both in sales and technical) who can sell as well as execute value added
services and solutions to customers. The Company is committed to partnering
with technology leaders in the IT industry and deliver world class IT products,
cutting edge technologies and services support to customers.
The Directors are
pleased to inform you that during the year, the delivery and support processes
of the Hosting Services team renewed its ISO 27001 certification with an audit
by TÜV Rheinland, towards Information Security Management Systems (ISMS)
process compliance. The Directors are optimistic and confident about the growth
prospects of the Hosting and Cloud related services business.
FUTURE PROSPECTS
The Company also
renewed its membership of NASSCOM, a premier trade body and the chamber of
commerce of the IT-BPO industries in India. During FY 2011-12, NASSCOM has
taken up software industry issues with the Government. We are hopeful that the
efforts put in by NASSCOM will be recognised by the Government and may
eventually result in simplification of tax laws relating to software industry.
The Company believes
in establishing a standard of governance that all internal teams adhere to.
During the last fiscal year, the Company continued to review its processes to
strengthen internal controls in critical business functions of sales,
procurement, HR and finance. The company also opened up its applications for
access from outside office by implementing a SSL VPN solution. The company
continues to improve the functionality of its web based Order Processing System
application. The Company this year has plans to complete the migration all
its other internal
applications to web based applications and make these available anytime
anywhere to its team members, thus improving efficiency and productivity.
Hiring of quality
manpower continues to be a challenge and the Company is working on various
recruitment models to maintain a consistent and high quality of team members
across all its departments.
During the year
the company expanded its office space in Mumbai and Pune. The Company
anticipates continuing investments this year in pursuit of the ISP and “Cloud
Computing” business.
FIXED ASSSETS
- Office
Building
- Furniture and
Fixtures
- Vehicles
- Office
Equipments
- Computer
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.54.43 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
|
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.