MIRA
INFORM REPORT
|
Report Date : |
25.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED (w.e.f.
24.12.2008) |
|
|
|
|
Formerly Known
As : |
VIRTUAL MARKETING ( |
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|
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Registered
Office : |
F-1, 1st Floor, Laxmi Woollen Mills Estate, Shakti Mills Lane,
Off Dr. E Moses Road, Mahalaxmi, Mumbai - 400013, Maharashtra |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
01.04.1999 |
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|
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Com. Reg. No.: |
11-119259 |
|
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 26.981 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U12000MH1999PTC119259 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV06740G |
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|
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PAN No.: [Permanent Account No.] |
AAACV289H |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Aggregator, Developer, Publisher and Distributor of Bollywood and
South Asian Entertainment Content. |
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|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3690000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company in the field of Digital
Entertainment having a fine track record. Financial position of the company
appears to be sound. Trade relations are fair. Payments are reported to be
correct and as per commitments. The company can be considered good for normal 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
December 2011 |
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 (GENERAL DETAILS)
|
Name : |
Ms. Tejaswi |
|
Designation : |
Admin |
|
Contact No.: |
91-22-40853344 |
|
Date : |
22.02.2013 |
LOCATIONS
|
Registered Office : |
F-1, 1st Floor, Laxmi Woollen Mills Estate, Shakti Mills
Lane, Off Dr. E Moses Road, Mahalaxmi, Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24903344/ 40853344 |
|
Fax No.: |
91-22-24903355 |
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E-Mail : |
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Website : |
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Overseas Offices : |
v 8-1, 8th Floor,
A1 Thuraiya Tower 2, Dubai Media City, P. O. Box 500717, Dubai, United Arab
Emirates Phone: 971 44280801 v 460 Park Avenue South,
4th Floor New York 10016 Tel. No.: 1 212 710-3088 |
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Branches: |
Haryana v 2nd floor, Cybiz Centre, Plot no. 309-310, Udyog Vihar, Phase IV Gurgaon -122015, Haryana, India Tel : 91-124-4503344 Fax : 91-124-4503355 Kolkata v
25-B, Vivekananda Road, Flat No. 1A, Kolkata -
700007, West Bengal, India Fax: 91-33-22739651 Bangalore v No.2582, 17th Main, 2nd Cross, HAL 2nd Stage, Indiranagar, Bangalore – 560008, Karnataka, India Board No: 91-80-43513344 Fax No: 91-80-43513355 Chennai v
No. 7, Lalithapuram Street, Royapettah,
Chennai - 600014, Tamilnadu, India Fax: 91-44-42637312 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Neeraj Roy |
|
Designation : |
Managing director |
|
Address : |
602, RNA
Aurovilla, 6th Floor, Near Poddar School, Jain Derasar Marg, Opposite Jain
Mandir, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1967 |
|
Date of Appointment : |
12.04.1999 |
|
DIN No.: |
00285875 |
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|
|
|
Name : |
Mr. Hiren Haresh Ved |
|
Designation : |
Director |
|
Address : |
B/606-607 Mistry Apartment, Parsi Panchayat Service Road, Andheri
(East), Mumbai – 400069, Maharashtra, India |
|
Date of Birth/Age : |
07.06.1970 |
|
Date of Appointment : |
30.05.2000 |
|
DIN No.: |
00049597 |
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|
|
|
Name : |
Mr. Ashish Rameshchandra Kacholia |
|
Designation : |
Director |
|
Address : |
44, Vaikunth Co-operative Housing Society Limited, Lallubhai Park Road,
Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
14.04.1969 |
|
Date of Appointment : |
12.04.1999 |
|
DIN No.: |
00252649 |
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|
|
|
Name : |
Mr. Rajiv Ambrish Agarwal |
|
Designation : |
Director |
|
Address : |
Chamaria Niwas, 3rd Floor, 41, Mahant Road, Vile Parle (East), Mumbai
- 400057, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1971 |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
00379990 |
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|
|
|
Name : |
Mr. Rakesh Radheyshyam Jhunjhunwala |
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Designation : |
Director |
|
Address : |
16 C, 6th Floor, Il Palazzo, Lt Gi Rd M Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
05.07.1960 |
|
Date of Appointment : |
02.08.2001 |
|
DIN No.: |
00777064 |
|
|
|
|
Name : |
Mr. Ralph Robert Simon |
|
Designation : |
Director |
|
Address : |
9 Elsworthy Road, London, NW33DS, UK |
|
Date of Birth/Age : |
19.12.1946 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
03042121 |
KEY EXECUTIVES
|
Name : |
Ms. Tejaswi |
|
Designation : |
Admin |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
1.61 |
|
Bodies
corporate |
|
37.83 |
|
Directors
or relatives of directors |
|
36.27 |
|
Other
top fifty shareholders |
|
24.29 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Aggregator, Developer, Publisher and Distributor of Bollywood and
South Asian Entertainment Content. |
GENERAL INFORMATION
|
Customers : |
Other |
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No. of Employees : |
Information declined by the management |
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Bankers : |
v The Federal Bank
Limited, Nariman Bhavan 12/227, Nariman Point, Mumbai 400021, Maharashtra,
India v IDBI Bank Limited,
IDBI Tower WTC Complex, Cuffe Parade, Mumbai 400005, Maharashtra, India
[91-22-66552758] |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Gandhi Paleja and Associates Chartered Accountants |
|
Address : |
1 - 12, Everest Building, 10th Floor, Tardeo, Mumbai – 400034,
Maharashtra, India |
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Tel. No.: |
91-22-23520250/ 23523805 |
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Fax No.: |
91-22-23525925 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFG0989J |
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Joint Ventures : |
v Astute System
Technology Private Limited v Saavn LLC |
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|
|
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Subsidiaries : |
v Hungama FZE v Hungama Mobile
FZ LLC v Hungama (UK)
Limited v Hungama
(Singapore) PTE. Limited v Nautanki.tv
Networks Private Limited |
CAPITAL STRUCTURE
AFTER 30.09.2011
Authorised Capital : Rs. 220.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 28.703
Millions
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000 Millions |
|
|
|
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Issued, Subscribed :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2870250 |
Equity Shares |
Rs. 10/- each |
Rs. 28.703
Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2698080 |
Equity Shares |
Rs. 10/- each |
Rs. 26.981 Millions
|
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
26.981 |
26.981 |
26.981 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
895.733 |
687.916 |
596.167 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
922.714 |
714.897 |
623.147 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
461.205 |
335.717 |
1.839 |
|
|
2] Unsecured Loans |
225.000 |
300.000 |
550.000 |
|
|
TOTAL BORROWING |
686.205 |
635.717 |
551.839 |
|
|
DEFERRED TAX LIABILITIES |
12.508 |
13.113 |
9.811 |
|
|
|
|
|
|
|
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TOTAL |
1621.427 |
1363.727 |
1184.797 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
136.471 |
111.970 |
100.876 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
75.088 |
74.611 |
31.162 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.054
|
0.089 |
0.100 |
|
|
Sundry Debtors |
1281.564
|
897.566 |
569.977 |
|
|
Cash & Bank Balances |
174.101
|
36.938 |
100.311 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
581.361
|
548.768 |
623.761 |
|
Total
Current Assets |
2037.080
|
1483.361 |
1294.149 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
323.566
|
123.577 |
71.077 |
|
|
Other Current Liabilities |
188.037
|
108.765 |
129.437 |
|
|
Provisions |
115.609
|
73.873 |
40.876 |
|
Total
Current Liabilities |
627.212
|
306.215 |
241.390 |
|
|
Net Current Assets |
1409.868
|
1177.146 |
1052.759 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1621.427 |
1363.727 |
1184.797 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
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|
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|
|
|
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Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
N.A. |
2289.692 |
1765.510 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
N.A. |
2148.141 |
1609.624 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
N.A. |
141.551 |
155.886 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
N.A. |
49.802 |
59.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
207.800 |
91.749 |
96.509 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
72.40 |
31.97 |
33.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
N.A. |
4.01 |
5.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
N.A. |
8.87 |
11.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
N.A. |
0.20 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.74
|
0.89 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.25
|
4.84 |
5.36 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
323.566 |
123.577 |
71.077 |
|
Sundry creditors |
323.566 |
123.577 |
71.077 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two 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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
Deposits related parties unsecured |
225.000 |
300.000 |
|
Total |
225.000 |
300.000 |
OPERATING RESULTS
During the year ended
March 31, 2011 the company earned a net profit after tax of Rs. 207.800
Millions on a gross income of Rs. 3095.500 Millions. The amount transfer to
Balance Sheet is Rs. 430.900 Millions.
OVERVIEW
This is the first time
their company has clocked a turnover in excess of Rs. 3000.000 Millions,
setting a new benchmark in their business and indeed laying a very strong
foundation for quantum growth from here.
This year they
have seen growth in their mobile businesses, with revenue generating from new
segments like Managed Services, Mobile Advertising and IVR Services. Also
businesses like Promo Marketing, Digital Services and Online Media have shown
considerable growth as the country is looking toward alternative forms of
consumer engagement.
With the launch of
high speed data services through 3G and broadband wireless access technologies,
the mobile value-added service (MVAS) market is expected to grow in the next
few years. With 3G Hungama is focusing on providing innovative providing
innovative Managed Services, Mobile Content and Advertising based services
which differentiates its offerings in the market.
The Mobile market
whilst witnessing growth in subscribers has been facing challenges with regard
to the quality of customers being acquired and the Average Revenue per User
which has been declining. They have hence looked at newer and more innovative
ways by which they are engaging them as also providing pricing relief to the
customer.
AWARDS AND RECOGNITION
The company
maintained its winning streak with several awards in Mobile Entertainment and
Digital and Mobile marketing, both in the Indian and International markets.
Hungama Digital,
South Asia’s largest digital media and entertainment Company, has won the award
for ‘Best Digital Agency’ in India, at the Brand Equity Agency Reckoner.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U12000MH1999PTC119259 |
|
Name of the
company |
HUNGAMA DIGITAL MEDIA
ENTERTAINMENT PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
F-1, 1st Floor, Laxmi Woollen Mills Estate, Shakti Mills
Lane, Off Dr. E Moses Road, Mahalaxmi, Mumbai - 400013, Maharashtra, India Email: shilpa@hungama.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10256070 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai
400005, Maharashtra, India Email: ag.wanjari@idbi.co.in
CIN No.: L65190MH2004GOI148838 |
|
Nature of
description of the instrument creating or modifying the charge |
Second
Supplemental Deed of Hypothecation dated March 30, 2012 executed by the
company in favour of IDBI Consortium to secure Working Capital Facility
enhanced from Rs 600.000 Millions to Rs 750.000 Millions (IDBI- Rs 375.000
Millions Federal Bank- Rs 375.000 Millions) by way of hypothecation on whole
of the movable assets of the company. |
|
Date of
instrument Creating the charge |
30.03.2012 |
|
Amount secured by
the charge |
Rs. 750.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Second
Supplemental Facility Agreement dated 30.03.12 executed by the company in
favour of IDBI Consortium and as amended from time to time. Terms of Repayment As per Second
Supplemental Facility Agreement dated 30.03.12 executed by the company in
favour of IDBI Consortium and as amended from time to time. Margin As per Second
Supplemental Facility Agreement dated 30.03.12 executed by the company in
favour of IDBI Consortium and as amended from time to time. Extent and Operation of the charge The charge
operates as security inter alia as first pari passu charge basis by way of
hypothecation 1.on Co's all
current assets both present and future and 2.on Co's all
movable plant and machinery and other movable fixed assets both present and
future to secure aggregate WCF of Rs 750.000 Millions (IDBI- Rs 375.000
Millions Federal Bank- Rs 375.000 Millions) together with all costs,
expenses, other monies whatever stipulated in Second Supplemental Facility
Agreement dt 30.03.2012 as amended from time to time |
|
Short particulars
of the property charged |
First pari passu
charge on entire current assets i.e. raw materials, semi finished and finished
goods, stores spares, Bill receivables, book debts, present and future, more
particularly described in the Second
Supplemental Deed of Hypothecation dated March 30, 2012 executed by the
Company in favour of WC bankers viz. IDBI and Federal Bank First pari passu
charge by way of hypothecation on all movable properties of the company, both
present and future more particularly described in the Second Supplemental
Deed of Hypothecation dated March 30, 2012 executed by the Company in favour
of WC bankers viz. IDBI and Federal Bank |
|
Date of
Modification |
11.12.2010 |
|
Particulars of
the present modification |
The present
modification is due to enhancement of Working Capital Facility by the IDBI
Consortium from Rs 600.000 Millions to Rs 750.000 Millions (IDBI Rs. 375.000
Millions and Federal Bank Rs. 375.000 Millions) vide Second Supplemental Deed
of Hypothecation dated March 30, 2012. |
CONTINGENT
LIABILITIES:
Claims against the
company not acknowledged as debts amount to Rs. 6.603 Millions (Previous Year
6.603 Millions being demand for additional service tax and Rs. 6.603 Millions
(Previous Year – 6.603 Millions) being demand for penalty raised by the Service
Tax authorities against which the company has preferred an appeal.
Bank Guarantees given not provided for Rs. 2.000 Millions (Previous Year
Nil)
FIXED ASSETS:
v
Computers
v
Furniture and Fittings
v
Plant and Machinery
v
Vehicles
v
Websites
v
Software – WIP
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 : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.