|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
IDBI ASSETS MANAGEMENT LIMITED |
|
|
|
|
Registered
Office : |
IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai – 400005,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.01.2010 |
|
|
|
|
Com. Reg. No.: |
11-199319 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.750.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65100MH2010PLC199319 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI09238F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCI2317R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The principal activity of the Company is to act as an Investment
manager and advisor to IDBI Mutual Fund. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of IDBI Bank Limited. It is an established company having a satisfactory track record. There
appear some accumulated losses recorded by the company. However, networth of the company appears to be strong and subject gets
good financial support from its holding companies. Trade relations are reported to be fair. Business is active. Payments
are usually correct and as per commitments. In view of strong holdings and experience promoters, the company can
be considered 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
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-COOPERATIVE
Contact No.: 91-22-66442800
LOCATIONS
|
Registered Office : |
IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra,
India |
|
Tel. No.: |
91-22-66096100/ 66442800 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 28.06.2012)
|
Name : |
Mr. Rajender Mohan Malla |
|
Designation : |
Chairman |
|
Address : |
C-4/19 Safdarjung Development Area, Hauz Khas, New Delhi - 110016,
India |
|
Date of Appointment : |
23.02.2011 |
|
DIN No.: |
00136657 |
|
|
|
|
Name : |
Mr. Debasish Mallick |
|
Designation : |
Managing Director |
|
Address : |
H-52, Maker
Kundan Gardens, Juhu Tara Road, Santacruz (West), Mumbai, 400049,
Maharashtra, India |
|
Date of Appointment : |
29.04.2011 |
|
DIN No.: |
02352963 |
|
|
|
|
Name : |
Mr. Jayant Narayan Godbole |
|
Designation : |
Director |
|
Address : |
604A, Cottage
Land Co-Operative Housing Society, Plot No.-16A, Sector-19, Navi Mumbai –
400706, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1945 |
|
Date of Appointment : |
28.06.2012 |
|
DIN No.: |
00056830 |
|
|
|
|
Name : |
Mr. Raj Kumar Bansal |
|
Designation : |
Director |
|
Address : |
B-201, Twin
Towers, off. Veer Savarkar Marg, Prabhadevi, Mumbai - 400025, Maharashtra,
India |
|
Date of Birth/Age : |
13.08.1958 |
|
Date of Appointment : |
28.06.2012 |
|
DIN No.: |
00122506 |
|
|
|
|
Name : |
Mr. Yashwant Shankarrao Thorat |
|
Designation : |
Director |
|
Address : |
Indu Niketan , General
Thorat Road, Tarabai Park, Kolhapur – 416003, Maharashtra, India |
|
Date of Appointment : |
29.04.2011 |
|
DIN No.: |
02652734 |
|
|
|
|
Name : |
Mr. Mukesh Sabharwal |
|
Designation : |
Additional Director |
|
Address : |
01, Krishna Menon Marg, Near Sena Bhawan, New Delhi – 110011, India |
|
Date of Birth/Age : |
12.09.1951 |
|
Date of Appointment : |
28.06.2012 |
|
DIN No.: |
05155598 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh Kumar C M |
|
Designation : |
Company Secretary |
|
Address : |
Flat No 6, Rams
Flats, No 19/37, Taylors Estate, Second Street, Kodambakkam, Chennai –
600024, Tamilnadu, India |
|
Date of Appointment : |
15.05.2010 |
|
PAN No.: |
AGZPM5722G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.06.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
IDBI Bank Limited, India - represented by Maria Saldanha |
|
49999994 |
|
IDBI Capital Market Service Limited, India - represented by P K Sethi |
|
25000000 |
|
B K Batra- Nominee of IDBI Bank Limited, India |
|
1 |
|
B P Singh- Nominee of IDBI Bank Limited, India |
|
1 |
|
R K Bansal- Nominee of IDBI Bank Limited, India |
|
1 |
|
S K V Srinivasan- Nominee of IDBI Bank Limited, India |
|
1 |
|
M V Phadke- Nominee of IDBI Bank Limited, India |
|
1 |
|
Deepak Gupta- Nominee of IDBI Bank Limited, India |
|
1 |
|
|
|
|
|
Total |
|
75000000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Government Companies |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The principal activity of the Company is to act as an Investment
manager and advisor to IDBI Mutual Fund |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
L. U. Krishnan and Company Chartered Accountant |
|
Address : |
Flat No.1702, 17th
Floor - F Wing, Raj Legacy Building, L B S Marg, Vickroli (West), Mumbai
- 400083, Maharashtra, India |
|
PAN No.: |
AAAFL0818M |
|
|
|
|
Ultimate Holding
Company: |
· IDBI Bank Limited CIN No.: L65925MP1994PLC008624 |
|
|
|
|
Fellow
Subsidiary Company : |
· IDBI Capital Market Services Limited CIN No.: U65990MH1993GOI075578 |
|
|
|
|
Other Related Party : |
·
IDBI Intech Limited CIN No.: U72200MH2000GOI124665 · IDBI MF Trustee Company Limited CIN No.: U65991MH2010PLC199326 · IDBI Trusteeship Services Limited CIN No.: U65991MH2001GOI131154 · IDBI Federal Life Insurance Company Limited CIN No.: U66010MH2007PLC167164 |
CAPITAL STRUCTURE
(AS ON 28.06.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
750.000 |
500.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(441.552) |
(265.174) |
|
|
NETWORTH |
|
308.448 |
234.826 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
2.229 |
14.584 |
|
|
|
|
|
|
|
|
TOTAL |
|
310.677 |
249.410 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
31.560 |
32.068 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
136.581 |
182.363 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000
|
0.000 |
|
|
Sundry Debtors |
|
8.077
|
6.081 |
|
|
Cash & Bank Balances |
|
100.184
|
10.754 |
|
|
Other Current Assets |
|
79.613
|
74.584 |
|
|
Loans & Advances |
|
4.832
|
3.424 |
|
Total
Current Assets |
|
192.706
|
94.843 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
39.841
|
51.492 |
|
|
Other Current Liabilities |
|
2.429
|
4.446 |
|
|
Provisions |
|
7.900
|
3.926 |
|
Total
Current Liabilities |
|
50.170
|
59.864 |
|
|
Net Current Assets |
|
142.536
|
34.979 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
310.677 |
249.410 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
89.416 |
30.469 |
|
|
|
Other Income |
|
15.687 |
5.278 |
|
|
|
TOTAL (A) |
|
105.103 |
35.747 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expense |
|
125.790 |
120.174 |
|
|
|
Other Expenses |
|
153.756 |
156.145 |
|
|
|
TOTAL (B) |
|
279.546 |
276.319 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(174.443) |
(240.572) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(174.443) |
(240.572) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
14.290 |
10.017 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
(188.733) |
(250.589) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(12.354) |
14.585 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
(176.379) |
(265.174) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(265.174) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(441.553) |
(265.174) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(2.86) |
(8.28) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
(167.82) |
(741.81) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(211.07) |
(822.44) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(84.16) |
(197.45) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.61) |
(1.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.16 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.84 |
1.58 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 (Rs. In Millions) |
31.03.2011 (Rs. In Millions) |
|
|
|
|
|
Sundry Creditors |
39.841
|
51.492 |
|
|
|
|
|
Total |
39.841
|
51.492 |
|
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
BACKGROUND
IDBI Asset
Management Company Limited was incorporated on 25th Jan 2010 as a Public
limited company. The principal activity of the Company is to act as an
Investment manager and advisor to IDBI Mutual Fund (“the Fund”). The Financial
statements for the second financial year ending 31st March 2012 are
being submitted.
OVERVIEW
In the second year
of operation IDBI Mutual Fund has successfully launched a Gold ETF Scheme and a
dynamic debt fund in addition to multiple fixed maturity plans. The average
quarterly asset under management of the AMC has grown from Rs 3527.80 (as on
March 31, 2011) to Rs. 54821.400 Millions by March 31, 2012. The AMC currently
manages 5 debt schemes, 3 equity schemes, 1 gold ETF and 14 fixed maturity
plans.
BUSINESS ENVIRONMENT
FY12 was a
difficult year with weak industrial production data, weak GDP growth, high
inflation, current account deficit, fiscal deficit, and a weakening rupee. The
global environment also remained weak, with the deepening European crisis,
continuation of slow growth in USA and low growth figures from China.
Globally, FY12 was
a turbulent year, marked by natural catastrophes like the Japanese earthquake,
political unrest in places like Syria, Egypt and Tunisia among others, problems
with Iran’s nuclear ambitions and rising crude prices due to all these factors.
The equity markets were witness to severe volatility, driven by an escalation
of the Euro zone debt crisis, partially offset by a better than expected
recovery by the U.S. in the second half of the year. Other emerging economies
were also witness to slower growth, as these economies continued to raise rates
in order to combat rising inflation. Expectations that the U.S. will announce
another quantitative easing program (QE3) saw the prices of commodities spike
in the second half of the year. In particular, gold hit an all time high of
$1900 per ounce as market participants saw it as a safe haven investment. Crude
prices on the Nymex touched a high of $113 while Brent traded at $125, driven
by the tense global events, however this moderated on the back of poor economic
data from the European economies as well as China. The European Central Bank
announced two rounds of the LTRO (long term refinancing option), at a total of
EUR 1 trillion, thereby pumping liquidity into the global markets and driving
“risk on” trades, particularly in economies like India. Among the key financial
markets during the year, the Dow Jones index and the Nikkei index gained 7.2%
and 3.4% respectively, while the FTSE lost 2.4%, the German DAX lost 1.3% and
the Shanghai index lost 22%.
The growth rate of
the Indian economy was weak with GDP growth sliding from 8% during the first
quarter, to 6.7% in 2QFY12, 6.1% in 3QFY12 and 5.3% in 4QFY12. The monthly IIP
data was weak and volatile. Corporate earnings during the year remained weak.
Inflation remained at elevated levels during most part of the year, thereby
prompting the Reserve Bank of India to increase the Cash Reserve Ratio (CRR)
and policy rates by 150 bps for FY12.
During FY12, the
Indian equity markets registered a steep fall of 9.2% on the Nifty and 10.5% on
the Sensex. Fund flows from FIIs also showed signs of strong volatility. The
rupee depreciated 14% for the full year FY12, despite regular RBI intervention,
and hit a low of Rs. 53.7, translating into a depreciation of a whopping 20%.
FII inflows for the year were about $10 bn while the FDI flows were about $35
bn.
Debt markets also
had little to cheer about, with 10-year Government security yields highly
volatile between 7.94% and 8.97%, mirroring domestic concerns as well as global
risk aversion changes. Liquidity remained in deficit mode, but the trend
improved over the year with regular Open Market Operations (OMO’s) to set-off
forex intervention by RBI. Money market rates remained elevated, due to the
persistent gap between credit and deposits, spiking in March due to the
year-end scramble for funds. The protracted liquidity crunch for a large part
of the year affected all sectors of the economy, including mobilization by
Mutual Funds.
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.54.83 |
|
|
1 |
Rs.87.99 |
|
Euro |
1 |
Rs.72.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
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 |
|
TOTAL |
|
45 |
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.