MIRA INFORM REPORT
|
Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAXX MOBILE COMMUNICATIONS LIMITED (w.e.f. 10.09.2008) MAXX MOBLINK PRIVATE LIMITED AMALGAMATED WITH MAXX MOBILE
COMMUNICATIONS LIMITED |
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|
|
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Formerly Known
As : |
MAXX MOBILE COMMUNICATIONS PRIVATE LIMITED (w.e.f. 26.08.2008) MAXX MOBILE PHONE AND ACCESSORIES (INDIA) PRIVATE LIMITED |
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Registered
Office : |
1601, 16th Floor, DLH Corporate Park, S. V. Road, Opposite
MTNL Telephone Exchange, Goregaon (West), Mumbai- 400062,
Maharashtra |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
01.01.2004 |
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Com. Reg. No.: |
11-143794 |
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Capital
Investment / Paid-up Capital : |
Rs. 2881.232 millions |
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|
CIN No.: [Company Identification
No.] |
U32204MH2004PLC143794 |
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|
PAN No.: [Permanent Account No.] |
AADCM7894C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of mobile phone battery and chargers as well as trading in mobile phones and accessories. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 21000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
Company has performed well during the year 2011-2012. Financially appears to
be strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered for business dealings at usual trade
terms and condition. Note: As claimed by
Ms. Megha Gupta from accounts department that Maxx Moblink Private Limited
has been amalgamated with Maxx Mobile Communications Limited. Hence, report
will be prepared on Maxx Mobile Communications Limited. The concerned person
has denied to give the date of amalgamation. |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : BBB |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation it carry moderate credit risk. |
|
Date |
September, 2012 |
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 DENIED BY
|
Name : |
Ms. Megha Gupta |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-33662222 |
|
Date : |
15.03.2013 |
LOCATIONS
|
Registered Office : |
1601, 16th Floor, DLH Corporate Park, S. V. Road, Opposite
MTNL Telephone Exchange, Goregaon (West), Mumbai- 400062,
Maharashtra, India |
|
Tel. No.: |
91-22-40734444 |
|
Fax No.: |
91-22-40794440 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Ajjay Ramanlal Agrawal |
|
Designation : |
Managing director |
|
Address : |
1503, Quiescent Hights, Mind Space, Chincholi Bunder, Malad (West), Mumbai-400064, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1977 |
|
Qualification : |
Graduate |
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Date of Appointment : |
01.01.2004 |
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PAN No.: |
ADAPA4684K |
|
DIN No.: |
00241575 |
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|
|
|
Name : |
Mahesh Harjibhai Pipaliya |
|
Designation : |
Whole-time director |
|
Address : |
Flat No.12, 3rd Floor, Dwarkesh, Rani Sati Marg, Malad (East), Mumbai-400097, Maharashtra, India |
|
Date of Birth/Age : |
29.09.1978 |
|
Qualification : |
graduate |
|
Date of Appointment : |
31.05.2010 |
|
PAN No.: |
AMMPP5983H |
|
DIN No.: |
03095950 |
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|
|
|
Name : |
Deva Nand Balodhi |
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Designation : |
Director |
|
Address : |
699, 1st Floor, Military Road, Anand Prabhat, Delhi-110005, India |
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Date of Birth/Age : |
14.07.1946 |
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Qualification : |
Masters of Science and arts |
|
Date of Appointment : |
18.09.2010 |
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DIN No.: |
01946041 |
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|
|
|
Name : |
Khee Chuan Low |
|
Designation : |
Nominee director |
|
Address : |
142, Lorong Ah Soo #02-253, Singapore 530142 |
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Date of Birth/Age : |
03.02.1977 |
|
Qualification : |
Bachelor’s degree in B.E. (Agriculture) and post-graduate management degree in Agriculture |
|
Date of Appointment : |
04.01.2011 |
|
DIN No.: |
03357098 |
KEY EXECUTIVES
|
Name : |
Megha Gupta |
|
Designation : |
Secretary |
|
Address : |
1102, J-Wing, Mayuresh Shristi Park, Lake Road, Off L.B.S. Road,
Bhandup (West), Mumbai-400078, Maharashtra, India |
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Date of Birth/Age : |
13.03.1987 |
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Date of Appointment : |
11.02.2010 |
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PAN No.: |
AOZPG0155M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
Note: Major Shareholders details file attached
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
16.23 |
|
Bodies corporate |
27.00 |
|
Directors or relatives of Directors |
55.61 |
|
Others |
1.16 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of mobile phone battery and chargers as well
as trading in mobile phones and accessories. |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Mobile Phone Battery |
Nos. |
NA |
NA |
3,90,56,494 |
|
Mobile Phone Charger |
Nos. |
NA |
NA |
3,90,56,494 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
State Bank of India, IFB, Natraj Building, 102, 1st Floor, 194,, Sir M V Road Western Express Highway, Andheri (East), Mumbai - 400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Anil Bansal and Associates Chartered Accountants |
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Address : |
1001, Ijmima Complex, Raheja S Metroplex, Link Road, Malad (West), Mumbai-400064, Maharashtra, India |
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PAN No.: |
AADPB0832A |
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|
Name : |
S. R. Batliboi and Associates Chartered Accountants |
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Address : |
Golf View, Corporate Tower, B, Sector-42, Sector Road, Gurgaon-122002, Haryana, India |
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PAN No.: |
AABFS3421N |
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Subsidiary : |
CIN No.: U74990MH2008PTC188380 |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
CIN No.: U67120MH2008PTC182939
CIN No.: U45191MH2005PTC156132
CIN No.: U64200MH2008PTC187765
CIN No.: U52100MH2008PTC187753 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000000 |
Equity Shares |
Rs.10/- each |
Rs. 4000.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
288123198 |
Equity Shares |
Rs.10/- each |
Rs. 2881.232 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 |
|
|
|
|
|
1] Share Capital |
2881.232 |
2881.232 |
195.320 |
|
|
2] Share Application Money |
0.000 |
0.100 |
0.000 |
|
|
3] Reserves & Surplus |
2483.495 |
1565.446 |
2555.894 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5364.727 |
4446.778 |
2751.214 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3730.910 |
3098.085 |
3030.476 |
|
|
2] Unsecured Loans |
181.937 |
12.000 |
81.245 |
|
|
TOTAL BORROWING |
3912.847 |
3110.085 |
3111.721 |
|
|
DEFERRED TAX LIABILITIES |
219.161 |
154.524 |
59.187 |
|
|
|
|
|
|
|
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TOTAL |
9497.735 |
7711.387 |
5922.122 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
6710.561 |
3991.376 |
1237.586 |
|
|
Capital work-in-progress |
21.464 |
31.758 |
2716.400 |
|
|
|
|
|
|
|
|
INVESTMENT |
507.894 |
500.600 |
108.100 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
131.681
|
589.661 |
539.311 |
|
|
Sundry Debtors |
3960.222
|
3606.438 |
1926.434 |
|
|
Cash & Bank Balances |
91.205
|
267.817 |
228.390 |
|
|
Other Current Assets |
37.412
|
33.114 |
4.687 |
|
|
Loans & Advances |
727.614
|
342.773 |
147.657 |
|
Total
Current Assets |
4948.134
|
4839.803 |
2846.479 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1759.691
|
1018.681 |
894.437 |
|
|
Other Current Liabilities |
696.991
|
563.134 |
77.632 |
|
|
Provisions |
233.636
|
70.335 |
14.374 |
|
Total
Current Liabilities |
2690.318
|
1652.150 |
986.443 |
|
|
Net Current Assets |
2257.816
|
3187.653 |
1860.036 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9497.735 |
7711.387 |
5922.122 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6678.513 |
6665.753 |
4986.019 |
|
|
|
Other Income |
396.769 |
31.464 |
47.490 |
|
|
|
TOTAL (A) |
7075.282 |
6697.217 |
5033.509 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4155.144 |
4696.832 |
|
|
|
|
Purchases of stock-in-trade |
754.248 |
0.042 |
4410.801 |
|
|
|
Employee benefit expense |
102.216 |
125.346 |
|
|
|
|
Other expenses |
148.593 |
174.072 |
|
|
|
|
Prior period items |
0.000 |
65.005 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
83.203 |
(116.875) |
|
|
|
|
TOTAL (B) |
5243.404 |
4944.422 |
4410.801 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
1831.878 |
1752.795 |
622.708 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
519.769 |
388.953 |
124.508 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1312.109 |
1363.842 |
498.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
298.535 |
245.498 |
42.464 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
1013.574 |
1118.344 |
455.736 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
95.525 |
104.538 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
918.049 |
1013.806 |
455.736 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Exports at F.O.B. Value |
359.598 |
5291.516 |
1398.938 |
|
|
TOTAL EARNINGS |
359.598 |
5291.516 |
6690.454 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials and consumables |
269.609 |
4508.693 |
2900.652 |
|
|
|
Capital goods |
2960.576 |
1725.175 |
1201.132 |
|
|
TOTAL IMPORTS |
3230.185 |
6233.868 |
4101.784 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
3.19 |
3.52 |
1.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
12.98
|
15.14 |
9.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.18
|
16.78 |
9.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.69
|
12.52 |
11.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.25 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.73
|
0.70 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
2.93 |
2.89 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
|
1759.691 |
1.938 |
0.000 |
|
Creditors due others |
|
1016.743 |
894.437 |
|
|
|
|
|
|
Total |
1759.691
|
1018.681 |
894.437 |
|
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
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 |
Yes |
PERFORMANCE REVIEW
The year the company has not registered significant growth due economic slowdown globally. However company has rebounded significantly in total revenue generation during the year. Total revenue of the Company is Rs. 7075.300 millions in comparison to Rs. 6697.200 millions in the previous year, registering a growth of approx. 105.65 %. The Profit before Tax and prior period items is Rs. 1013.600 millions as against Rs.1183.300 millions in the previous year registering downturn of approx. 85.66%. The Net Profit after Tax is Rs. 918.000 millions as against Rs. 1013.800 millions in the previous year registering downturn of approx. 90.55 %
UNSECURED LOAN
|
Unsecured
Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Loans and advances from related parties |
0.000 |
12.000 |
|
Loans and advances from directors |
1.702 |
0.000 |
|
Other loans and advances, others |
180.235 |
0.000 |
|
Total |
181.937 |
12.000 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer
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.54.44 |
|
|
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.