MIRA
INFORM REPORT
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Report Date : |
22.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
DEEPWATER DRILLING AND SERVICES PRIVATE LIMITED |
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Registered
Office : |
Suite No. 227, Tower – A, KJL Complex, B-39, Plot No. 70, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.08.2009 |
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Com. Reg. No.: |
55-193685 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
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CIN No.: [Company Identification
No.] |
U74999DL2009PTC193685 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Offshore drilling company. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 120000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Jaguar Overseas Limited”. It is an
established company having moderate track. The latest financials as on 2011-2012 are not available. As per the available as on 2010-2011, the company has performed well
and achieved a substantial growth in its sales turnover as well as net
profitability. However, trade relations are improving. Business is active. Payment
terms are unknown. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
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Rating |
Term loans: BBB - |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
April 2013 |
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Rating Agency Name |
ICRA |
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Rating |
Non fund based bank limits: A3 |
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Rating Explanation |
Moderate degree safety and higher credit risk. |
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Date |
April 2013 |
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 (PARTIAL DETAILS)
|
Name : |
Mr. Purushottam L G |
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Designation : |
Deputy General Manager / Account Finance |
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Contact No.: |
91-11-40077090 |
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Date : |
21.06.2013 |
LOCATIONS
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Registered Office : |
Suite No. 227, Tower – A, KJL Complex, B-39, Plot No. 70, Najafgarh
Road, New Delhi – 110015, India |
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Tel. No.: |
91-11-40077090/25913648 |
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Fax No.: |
91-11-25107202/40077091 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Mumbai Branch Office: |
703-704, Trade Centre, Bandra Kurla Complex, Opposite MTNL BKC
Exchange Bandra (East), Mumbai – 400051, Maharashtra, India |
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Tel. No.: |
91-22-61536700 |
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Fax No.: |
91-22-61536727 |
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E-Mail : |
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Mumbai Office |
201, Keshava, Plot No. C-5, E Block, Bandra – Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra, India |
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Tel. No.: |
91-22-26592596 |
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Fax No.: |
91-22-265925977 |
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E-Mail : |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Naresh Sharma |
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Designation : |
Director |
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Address : |
A - 458 Sector – 2, Rohini, New Delhi – 110085, India |
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Date of Birth/Age : |
04.06.1962 |
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Date of Appointment : |
20.08.2010 |
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DIN No.: |
02922411 |
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Name : |
Mr. Amarjit Singh Soni |
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Designation : |
Director |
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Address : |
C - 412 1st Floor, Defence Colony, New Delhi – 110024, India |
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Date of Birth/Age : |
12.07.1940 |
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Date of Appointment : |
20.08.2010 |
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DIN No.: |
03009390 |
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Name : |
Mr. Vishesh Gupta |
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Designation : |
Additional Director |
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Address : |
F - 6 3 Ground Floor, Green Park, New Delhi – 110016, India |
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Date of Birth/Age : |
16.08.1986 |
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Date of Appointment : |
26.12.2011 |
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DIN No.: |
05169043 |
KEY EXECUTIVES
|
Name : |
Mr. Purushottam L G |
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Designation : |
Deputy General Manager / Account Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
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No. of Shares |
|
Jaguar Overseas Limited, India |
|
499900 |
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Agarwal Manas |
|
100 |
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Total |
|
500000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
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Bodies corporate |
99.99 |
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Other top fifty shareholders |
0.01 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Offshore drilling company. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by management |
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Bankers : |
State Bank of Patiala, Commerce Branch, Chandralok Building, 36,
Janpath, New Delhi – 110001, India |
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Facilities : |
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Banking Relations
: |
- |
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Auditors : |
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Name : |
AMAA and Associates Chartered Accountants |
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Address : |
UG-2, 17A/56, Triveni Plaza, W.E.A. Karol Bagh, New Delhi – 110005,
India |
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Tel No.: |
91-11-47057628 |
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Mobile No.: |
91-9212327628 |
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Email: |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFA8336G |
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Subsidiary Company: |
Jaguar Overseas Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
5.000 |
5.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
25.735 |
0.060 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
30.735 |
5.060 |
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LOAN FUNDS |
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1] Secured Loans |
|
16.924 |
0.000 |
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2] Unsecured Loans |
|
16.315 |
4.700 |
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TOTAL BORROWING |
|
33.239 |
4.700 |
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DEFERRED TAX LIABILITIES |
|
0.086 |
0.077 |
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TOTAL |
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64.060 |
9.837 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
10.875 |
5.105 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
22.226 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000
|
0.000
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Sundry Debtors |
|
93.041
|
1.248
|
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Cash & Bank Balances |
|
6.024
|
3.059
|
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Other Current Assets |
|
0.000
|
0.000
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Loans & Advances |
|
36.907
|
0.385
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Total
Current Assets |
|
135.972
|
4.692
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Sundry Creditors |
|
76.245
|
0.000
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Other Current Liabilities |
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27.990
|
0.018
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Provisions |
|
0.778
|
0.000
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Total
Current Liabilities |
|
105.013
|
0.018
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Net Current Assets |
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30.959
|
4.674
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.058 |
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TOTAL |
|
64.060 |
9.837 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
|
581.441 |
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Other Income |
|
0.725 |
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TOTAL |
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582.166 |
1.338 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
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542.598 |
1.200 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
39.568 |
0.138 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.869 |
0.001 |
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PROFIT BEFORE
TAX |
|
38.699 |
0.137 |
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Less |
TAX |
|
13.024 |
0.077 |
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PROFIT AFTER TAX
|
|
25.675 |
0.060 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
0.060 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
|
25.735 |
0.060 |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
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Service to Oil Sector |
|
581.441 |
0.000 |
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IMPORTS |
|
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|
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Capital Goods |
|
0.000 |
0.000 |
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Stores & Spares |
|
6.771 |
0.000 |
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TOTAL IMPORTS |
|
6.771 |
0.000 |
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Earnings Per
Share (Rs.) |
|
51.35 |
0.08 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
4.41 |
4.48 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
6.66 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
28.46 |
2.92 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
1.26 |
0.03 |
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Debt Equity Ratio (Total Debt /Networth) |
|
|
1.08 |
0.93 |
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Current Ratio (Current Asset/Current Liability) |
|
|
1.29 |
260.67 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Micro Enterprises and Small |
|
0.000 |
0.000 |
|
Others |
|
76.245 |
0.000 |
|
Total |
|
76.245 |
0.000 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
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10] |
Designation of contact
person |
Yes |
|
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 |
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19] |
Payments terms |
No |
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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 |
-- |
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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 |
Note: Registered office of the company has been
shifted from Suite No. 227, Tower – A, KJL Complex, B -39, Plot No. 70, Shivaji
Marg, New Delhi – 110015, India, India to the present
address w.e.f 22.01.2010
PERFORMANCE OF THE
COMPANY
The company stared its operation w.e.f. 4th October, 2010,
when its chartered Jackup Rig, NKD was deployed with ONGC Location. During the
year company achieved total income of Rs.582.166 Millions and profit After Tax
Rs.25.675 Millions Current year being the full year of operation, results are
expected to be much better.
OUTLOOK
Keeping in view the performance and future prospects of the company’s
business and the business of its subsidiary. The company is poised for
sustained growth and the outlook is bright.
UNSECURED LOAN
|
PARTICULARS |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
Loans from Bodies Corporate |
16.315 |
4.700 |
|
Total |
16.315 |
4.700 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74999DL2009PTC193685 |
|
Name of the
company |
DEEPWATER
DRILLING AND SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Suite No. 227, Tower – A, KJL Complex, B-39, Plot No. 70, Najafgarh
Road, New Delhi – 110015, India Email: dgma@dwdspl.com |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10218393 |
|
Type of charge |
·
Book debts ·
First and
Exclusive Charge Over Current Assets |
|
Particular of
charge holder |
(CIN: U74999DL2009PTC193685) State Bank of Patiala, Commerce Branch, Chandralok Building, 36,
Janpath, New Delhi – 110001, India Email: sbpcbnd@yahoo.co.in |
|
Nature of
instrument creating charge |
Letter from bank dated
23-01-2013 attached. |
|
Date of
instrument Creating the charge |
23.01.2013 |
|
Amount secured by
the charge |
Rs.160.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of interest
@ 4.50% above base rate present effective Roi 15.00% p.a. (floating) with
monthly rests. Terms of
Repayment Payable on
demand. Margin Margin - 25%
(Stock/Book Debts) Extent and
Operation of the charge 1st pari passu
charge over all current assets of the company, both present and future
(excluding receivables of rig dynamic vision) with other working capital
lenders. 1st pari passu
over all the moveable fixed assets of the company, pari passu with other
working capital lenders. Others The Above Is To
Secure The Following Credit Facilities :- Fund Based = RS.
20.000 Millions Non Fund Based =
Rs. 140.000 Millions (BG = Rs.125.000 Millions. and LC = Rs. 15.000 Millions) |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1st pari passu
charge over all current assets of the company, both present and future
(excluding receivables of rig dynamic vision) with other working capital lenders. Ist charge over
all the movable fixed assets of the company, pari passu with other working
capital lenders |
|
Particulars of
the present modification |
There being no
change in the credit facilities of Rs. 160.000 Millions already registered
however charge is being modified due to exclusion of receivables of rig
dynamic vision from all current assets of the company both present and
future. However charge over all other present and future current assets
including receivables from other two rigs noble kenneth delaney (nkd) and
noble duchess (ndu) will continue on pari passu basis with ICICI Bank. |
FIXED ASSETS
·
Office Equipments
·
Computer and Software
·
Furniture and Fixtures
·
Vehicle
NEWS
KEPPEL FELS DELIVERS FIRST OF
20 RIGS SLATED FOR 2013
26-JANUARY-2013
Rig
builder is on track to deliver Vision Drilling's first KFELS B Class jackup rig
"Dynamic Vision" two months ahead of time, garnering an early
delivery bonus of about US$ 1 million Keppel FELS Limited
(Keppel FELS) is delivering its first rig of 2013 to Vision Drilling Pte
Limited (Vision Drilling), a wholly owned subsidiary of Cyprus based Dynamic
Offshore Drilling Limited (Dynamic Offshore Drilling). The KFELS B Class jackup
rig, Dynamic Vision, will be Vision Drilling's first such rig and will be
delivered almost two months ahead of schedule with a perfect safety record.
It is the first of the 20 offshore rigs that
Keppel FELS is expected to deliver in 2013, a record number for any yard
worldwide.
Mr Lam Yi Young, Chief Executive of the
Maritime and Port Authority of Singapore, speaking as the Guest of Honour at
the naming ceremony today, said, "The offshore and marine industry is a
key part of Singapore's economy and we are proud that Keppel, a home-grown company,
has established itself as a global leader in the design, construction and
repair of mobile offshore rigs. The successful delivery of Dynamic Vision is
testament to Keppel's proven capabilities and the strong industry partnerships
it has built up."
Mr Wong Kok Seng, Managing Director
(Offshore), Keppel Offshore and Marine and Managing Director, Keppel FELS
added, "We are pleased to be able to deliver our first rig of 2013 two
months ahead of schedule. It augurs well for the rest of the 19 rigs that we
expect to deliver this year. For the month of January alone, we are delivering
three rigs. Our ability to deliver these rigs on time or ahead of time and
safely is due to two factors; the continuous process and productivity
improvements we have implemented in the yard; and the fact that the majority of
the rigs being built are to our proprietary designs.
"In addition, we also have a very good
partnership with Vision Drilling, having worked with their management team
previously. Over the years, Keppel FELS has seen growing interest from Indian
offshore and marine companies. Since 2003, they have ordered a total of ten
jackup rigs, all of which are of the KFELS B Class design. We look forward to
enhancing our relationship with them and continuing to service India's oil and
gas market."
Deepwater Drilling and Services Private
Limited an India-based company in the Dynamic Offshore Drilling Group, has a
five year charter with Fortune 500 Indian National Oil Company Oil &
Natural Gas Corporation (ONGC) Limited for work in the Western part of Offshore
India.
Mr Naresh Kumar, Chairman of Dynamic Offshore
Drilling said, "India's growing energy demand is driving the country to
actively increase its offshore oil and gas production. The proven KFELS B Class
jackup design, coupled with our established experience in offshore drilling,
places Vision Drilling in a good position to meet this demand.
"In growing our fleet of high
specification jackup rigs, we look to continue to, work with reliable shipyards
and Keppel FELS has again lived up to its reputation as the world leader in rig
building with this early delivery."
Built and optimised to meet the unique
environmental requirements of India, Dynamic Vision is capable of operating in
water depths of 350 feet and drilling down to 30,000 feet. Keppel's advanced
and fully-automated high capacity rack and pinion elevating system and
self-positioning fixation system have been incorporated into the design.
About Dynamic Offshore Drilling
Dynamic Offshore Drilling is an International
Drilling Company headquartered in Cyprus. It aims to be a significant player in
the high specification premium jackup rig segment with strong emphasis on
ethics, QHSE and operational excellence.
Dynamic Offshore Drilling is backed by a
strong industrial house and senior management team with over 200 man years of
combined experience in drilling operations, project management and engineering
excellence. The team has a strong safety track record and has contributed to
winning many IADC safety awards. The management of the group is well
established, highly reputed and well recognised by the industry for quality
services delivered professionally, economically, safely and efficiently. The
team has worked very closely with the Keppel FELS team on two KFELS B Class
jackup rigs which have been deployed under long term contracts with strong day
rates with a Fortune 500 National Oil Company in the past.
About Keppel FELS
Keppel FELS is a subsidiary of Keppel Offshore
and Marine Limited (Keppel O and M), a wholly-owned company of Keppel
Corporation Limited. Keppel FELS is a leading designer, builder and repairer of
high-performance mobile offshore rigs. Its portfolio of proprietary designs and
floating production solutions meets a broad spectrum of operating requirements,
including deep waters and harsh environments.
As a group, Keppel O and M is also a leader
in ship repair and conversion, and specialised shipbuilding. Its near market,
near customer strategy is bolstered by a global network of 20 yards and offices
in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and
the North Sea regions. Integrating the experience and expertise of its yards
worldwide, the group aims to be the provider of choice and partner for
solutions for the offshore and marine industry.
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.35 |
|
|
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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.