MIRA
INFORM REPORT
|
Report Date : |
02.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
NITESH HOUSING DEVELOPERS PRIVATE LIMITED (w.e.f.10.07.2008) |
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Formerly Known
As : |
NITESH TRIVANDRUM MALLS PRIVATE LIMITED |
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Registered Office
: |
7th Floor,
Nitesh Timesquare, No. 8, M. G. Road, Bangalore – 560001, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
04.12.2007 |
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Com. Reg. No.: |
08-044553 |
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Capital
Investment / Paid-up Capital : |
Rs. 50.000 Millions |
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CIN No.: [Company Identification
No.] |
U45201KA2007PTC044553 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRN04295E |
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PAN No.: [Permanent Account No.] |
AACCN6510F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Real Estate Developer |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1000000 |
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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 having a good track
record. Financially appears to be strong. Liquidity position seems to be
good. 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 business dealings a\t 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
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.
LOCATIONS
|
Registered Office : |
7th Floor,
Nitesh Timesquare, No. 8, M. G. Road, Bangalore – 560001, Karnataka, India |
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Tel. No.: |
91-80-40174000/ 40174222-26 |
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Fax No.: |
91-80-25550825 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 24.09.2012
|
Name : |
Mr. Nitesh Shetty |
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Designation : |
Director |
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Address : |
No. 6A, Nitesh Mayfair Kasturba Road Cross, Bangalore – 560001,
Karnataka, India |
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Date of Birth/Age : |
14.05.1977 |
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Date of Appointment : |
04.12.2007 |
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PAN No.: |
ALMPS4258B |
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DIN No.: |
00304555 |
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Name : |
Lalgudi Saptharishi Vaidyanathan |
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Designation : |
Director |
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Address : |
# 35/7, Shrusti, 11th Cross, 6th Main,
Malleshwaram, Bangalore – 560003, Karnataka,
India |
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Date of Birth/Age : |
14.10.1961 |
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Date of Appointment : |
11.09.2009 |
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PAN No.: |
AAQPV6002K |
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DIN No.: |
00304652 |
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Name : |
Mrs. Ashwini Kumar |
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Designation : |
Director |
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Address : |
E-73, Golden Enclave, Airport Road, Bangalore – 560017, Karnataka,
India |
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Date of Birth/Age : |
28.07.1958 |
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Date of Appointment : |
13.05.2010 |
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DIN No.: |
02034498 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Nitesh Shetty |
|
100 |
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Nitesh Estates Limited, India |
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4494900 |
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HDFC Asset Management Company Limited, India |
|
505000 |
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Total |
|
5000000 |
AS ON 24.09.2012
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Equity Share Breakup |
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Percentage of Holding |
|
Category |
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Bodies
corporate |
|
99.99 |
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Directors
or relatives of directors |
|
0.01 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Developer |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Corporation Bank, No. 114, M.G. Road, Bangalore – 560001, Karnataka,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
IDBI Trusteeship
Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg, Ballad
Estate, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
B K Ramadhyani
and Company Chartered Accountants |
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Address : |
4B, Chitrapur Bhavan,
8th Main, 15th Cross, Malleswaram, Bangalore – 560055, Karnataka, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFB1153G |
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Holding company : |
Ř Nitesh Estates
Limited [L07010KA2004PLC033412] |
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Fellow
Subsidiaries : |
Ř Nitesh
Indiranagar Retail Private Limited [U45201KA2007PTC042660] Ř Kakanad
Enterprises Private Limited Ř Nitesh Urban
Development Private Limited Ř Nitesh Property
Management Private Limited |
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Enterprises owned and significantly influenced by KMP : |
Ř Winter Lands
Developers Private Limited Ř Southern Hills
Developers Private Limited [U70102KA2006PTC040789] Ř Nitesh Mylapore
Developers Private Limited [U45200TN2007PTC065595] Ř Serve and Volley
Outdoor Advertising Private Limited [U74300KA2004PTC034501] Ř Grass Outdoor
Media Private Limited [U74300KA2000PTC027525] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
5,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
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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 |
|
|
|
|
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1] Share Capital |
50.000 |
50.000 |
50.000 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
201.240 |
85.421 |
0.000 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
(1.891) |
|
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NETWORTH |
251.240 |
135.421 |
48.109 |
|
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LOAN FUNDS |
|
|
|
|
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1] Secured Loans |
24.854 |
634.033 |
620.000 |
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2] Unsecured Loans |
0.100 |
0.100 |
0.100 |
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TOTAL BORROWING |
24.954 |
634.133 |
620.100 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.020 |
0.000 |
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|
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TOTAL |
276.194 |
769.574 |
668.209 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.989 |
0.604 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.100 |
0.221 |
0.189 |
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DEFERRED TAX ASSETS |
0.969 |
0.000 |
0.877 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
341.459
|
223.493 |
43.492 |
|
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Sundry Debtors |
131.171
|
0.361 |
0.000 |
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Cash & Bank Balances |
123.736
|
36.800 |
37.203 |
|
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Other Current Assets |
294.949
|
216.777 |
12.685 |
|
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Loans & Advances |
1574.331
|
1514.943 |
611.193 |
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Total
Current Assets |
2465.646
|
1992.374 |
704.573 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
170.073
|
120.354 |
2.858 |
|
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Other Current Liabilities |
1968.768
|
1088.341 |
34.572 |
|
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Provisions |
52.669
|
14.930 |
0.000 |
|
Total
Current Liabilities |
2191.510
|
1223.625 |
37.430 |
|
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Net Current Assets |
274.136
|
768.749 |
667.143 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
276.194 |
769.574 |
668.209 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
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SALES |
|
|
|
|
|
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Income |
352.259 |
248.865 |
0.000 |
|
|
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Other Income |
133.603 |
92.682 |
12.874 |
|
|
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TOTAL |
485.862 |
341.547 |
12.874 |
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|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
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|
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Administrative Expenses |
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|
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Advertising Expenses |
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|
|
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TOTAL |
304.518 |
210.605 |
15.641 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
181.344 |
130.942 |
(2.767) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.215 |
0.033 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
181.129 |
130.909 |
(2.767) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
65.310 |
43.597 |
(0.877) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
115.819 |
87.312 |
(1.890) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
23.16 |
17.46 |
(0.38) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
23.84
|
25.56 |
(21.49) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
51.42
|
52.60 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.34
|
6.57 |
(0.39) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.72
|
0.97 |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.10
|
4.68 |
12.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.63 |
18.82 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
WEBSITE DETAILS
PRESS RELEASE
NITESH ESTATES TO
RAISE RS 400 CR TO DEVELOP RESIDENTIAL PROJECTS
The real estate firm
will launch five projects across price categories this fiscal year
Wed, Nov 21 2012. 10 44 PM IST
Bangalore: Nitesh Estates Limited is in advanced talks with private equity (PE) firms to raise Rs.4000.000 Millions for a clutch of residential projects—the real estate firm’s first big fund-raising since it listed its shares on the bourses two years ago.
The company will raise the money through a subsidiary, Nitesh Housing Developers, for a residential platform that will develop the projects, chairman and managing director Nitesh Shetty said in an interview.
The Bangalore-based developer, which is building the country’s first Ritz-Carlton hotel in the heart of the city, will launch five projects across price categories this financial year. These include two luxury residential projects while the rest will be priced at about Rs.4,500 a sq. ft. Earlier this year, Nitesh launched a luxury villa project, Napa Valley, in Bangalore.
“Residential projects are the flavour of the season due to their self-liquidating nature and there are takers for such assets,” said Karun Varma, managing director, Bangalore and Kochi, Jones Lang LaSalle India, a property advisory. “Location, positioning of the project and the pricing would also play key roles in funds investing in this space.”
Property consultants have reiterated that despite the overall real estate market in India being slow in terms of sales and project launches, Bangalore has bucked the trend with a slew of mid-market launches and robust sales from actual users.
The decade-old realty firm, funded by a number of PE firms before its Rs.495-crore initial public offering in 2010, plans to provide an exit to HDFC Asset Management Company Limited by the end of March by buying back its stake.
HDFC AMC invested Rs.800.000 Millions for a 11% stake in a subsidiary special purpose vehicle in 2009.
This will be the fourth stake sale in Nitesh Estates by a PE investor, after two rounds by Och-Ziff Capital Management group LLC and one by HDFC Realty Fund, which sold its stake in a Bangalore mall project back to the developer last year.
Despite Nitesh Estates having a strong launch pipeline and a large residential portfolio, property analysts said delayed execution of projects by the company was worrying.
Nitesh Estates’s revenue rose 8.42% to Rs.300.000 Millions in the quarter ended September, but its losses increased sharply from Rs.6.100 Millions a year ago to Rs.125.600 Millions.
Shetty said project execution is being ramped up and close to 16 projects are under construction at various stages, with large contractors including Simplex Infrastructure Limited, Ahluwalia Contracts India Limited and Larsen and Toubro Limited working on a bulk of them.
Changing its strategy of focusing primarily on residential projects, the developer is returning to office space development after a sabbatical.
It has formed joint ventures to develop four prime central business district office buildings with an annual revenue potential of Rs.1000.000 Millions, said Shetty. Each of these projects will be between 500,000 sq. ft and 1 million sq. ft in size.
As for retail developments such as shopping centres and malls, Nitesh is building a shopping mall in Bangalore’s Indiranagar area, for which the company obtained construction debt of Rs.3000.000 Millions from Bank of Baroda, Punjab National Bank and Corporation Bank last week.
The mall, expected to be ready in 30 months, is projected to fetch close to Rs.1200.000 Millions in annual rental income.
As the Ritz-Carlton hotel gets ready for a launch in the next 3-4 months, Nitesh Estates will also acquire land assets for potential development. It is in the fray to bid for the upcoming Four Seasons hotel and residences project.
Nitesh Estates rose 2.05% to Rs.13.47 on Wednesday on BSE, while the benchmark index Sensex gained 0.72% to 18,460.38 points.
NITESH ESTATES TO
RAISE FUNDS FOR RESIDENTIAL PROJECTS
22 November 2012
Nitesh Estates Limited is planning to raise R400 Cr PE investment through its subsidiary – Nitesh Housing Developers for its residential projects.
The company is planning to provide exit to HDFC Asset Management Co. Ltd by the
end of March by buying back its stake. HDFC AMC invested Rs.800.000 Millions
for a 11% stake in a subsidiary special purpose vehicle in 2009, as stated by
Mint.
Last February, HDFC Property Ventures Limited sold its
50% stake in JV project - Nitesh Indiranagar Mall to JV partner Nitesh Estates
Limited. In November, JP Morgan Global Fund invested $40Mn for a 45% stake in a
Nitesh Estate SPV which was executing three projects totalling 4 mn sqft in
Bangalore and Chennai
Founded in 2004 by Nitesh Shetty, Bangalore-based Nitesh Estates is engaged in the development of residential real estate and commercial projects. It has brought more than 18 million sq ft of space under development as premium living, working, lifestyle and leisure space.
The company received investments from Citigroup in 2006 and Och Ziff in 2007,
thus becoming one of the first few companies in India to attract FDI in real
estate.
Nitesh Estates undertake most of its projects through the joint-development
model as compared to acquiring a freehold or leasehold interest in the land,
which reduces the upfront cost of land acquisition and its total project
financing costs.
Earlier this year, Nitesh launched a luxury villa project, Napa Valley, in
Bangalore. The company is currently developing its first hospitality project,
'Ritz-Carlton' brand hotel in India which expected to get ready for launch in
the next 3-4 months.
Nitesh Estates is also planning to bid for the upcoming Four Seasons hotel and
residences project.
Some of its residential projects in Bangalore includes Nitesh Hyde Park, Nitesh
Forest Hills, Nitesh Flushing Meadows among others and Nitesh Wimbledon
Gardens, a residential and commercial project in Kochi.
In real estate segment, Xander Group, the real estate focused PE firm, was
planning to acquire the retail and hotel project of Ozonegroup for around Rs
3500.000 Millions. Sun Apollo was set to invest upto $50 Mn in projects
developed by Sobha Developers, a South India based realty developer.
TATA STEEL TO RAISE RS 18K CR FOR NEW PLANT
Mumbai, Thu Aug 23
2012, 00:27 hrs
In what will be the largest fund-raising exercise by an Indian corporate in a long time, Tata Steel plans to hit the loan market for close to Rs 180000.000 Millions.
The steel maker will mop up money, via the project finance route, to fund its six million tonne greenfield steel plant in Kalinganagar, in coastal Orissa. Bankers say the loan, which will have a tenure of between seven and ten years, could cost the steel maker around 11 per cent plus in interest. Tata Steel now commands a rating of AA, awarded by CRISIL; on August 8, 2012, Moody's Investors Service changed the outlook on the Ba3 corporate family rating of the company to negative from stable. Moody's also downgraded the corporate family rating of Tata Steel UK Holdings Limited to B3 from B2.
According to Koushik Chatterjee, group chief financial officer (CFO), the company is progressing on the financial closure of the Orissa greenfield project with domestic financial institutions and also with foreign lenders. "As a stated policy we look at overall cost of financing on a fully swapped rupee basis to optimise the cost of capital," Chatterjee said.
The CFO added that Tata Steel's focus on the capital structure remains around 1:1 net debt to equity which is currently the case. "The final debt drawdown will depend on the extent of the internal accruals of the company over the next few years even though the initial commitment may be high to provide certainty to project execution," he observed. Tata Steel, which ranks among the top steel makers globally, has a consolidated net debt has of $9.7 billion currently compared with $8.5 billion at the end of March, 2012.
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 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. 54.48 |
|
|
1 |
Rs. 82.72 |
|
Euro |
1 |
Rs. 71.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
54 |
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.