MIRA INFORM REPORT
|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
TIMES INNOVATIVE MEDIA LIMITED (w.e.f. 15.03.2007) |
|
|
|
|
Formerly Known
As : |
TIMES INNOVATIVE MEDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, A Wing, Matulya Mills Centre, Senapati Bapat, Lower Parel
(West), Mumbai – 400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.10.2005 |
|
|
|
|
Com. Reg. No.: |
11-157078 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.383.492 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH2005PLC157078 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT12686C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT3354P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The principal activity of the Subject is Outdoor Media Advertising
Business. |
|
|
|
|
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 3590000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Bennett Coleman and company Limited. It is a well established and reputed company having satisfactory track
record. There appears some accumulated losses record by the company. However,
the company receives good support from its holding company. Trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. In view of strong holding the company can be considered normal for
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 Co-operative (91-22-30988888)
LOCATIONS
|
Registered Office : |
4th Floor, A Wing, Matulya Mills Centre, Senapati Bapat, Lower Parel
(West), Mumbai – 400013, Maharashtra, India
|
|
Tel. No.: |
91-22-67536983/ 40983000/ 66620600/ 30988980 |
|
Fax No.: |
91-22-67536900/ 66615030 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Trade Gardens,
Ground Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (West),
Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-67536983 |
|
Fax No.: |
91-22-67536800/ 900 |
DIRECTORS
As on: 13.08.2012
|
Name : |
Amba Preetham Parigi |
|
Designation : |
Director |
|
Address : |
Tahnee Heights Co-operative Housing Society Limited, 66, Napean Sea
Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1949 |
|
Qualification : |
Masters degree in business administration, Bachelors degree in Economics and a Masters degree in Sociology |
|
Date of Appointment : |
27.10.2005 |
|
DIN No.: |
00087586 |
|
|
|
|
Name : |
Mr. Sivakumar Sundaram |
|
Designation : |
Director |
|
Address : |
6, Shankar Sagar, |
|
Date of Birth/Age : |
23.07.1966 |
|
Qualification : |
M.Com, FICWA and FCA |
|
Date of Appointment : |
27.10.2005 |
|
DIN No.: |
00105562 |
|
|
|
|
Name : |
Mr. Narayanan Kumar |
|
Designation : |
Director |
|
Address : |
No.1, George Avenue, Chennai – 600018, Tamilnadu, India |
|
Date of Birth/Age : |
28.01.1950 |
|
Qualification : |
Electronics and Communications Engineer |
|
Date of Appointment : |
31.03.2006 |
|
DIN No.: |
00007848 |
|
|
|
|
Name : |
Mr. Sunder Hemrajani |
|
Designation : |
Managing Director |
|
Address : |
C-121, Ground Floor, Defence Colony, New Delhi – 110024, India |
|
Date of Birth/Age : |
27.05.1955 |
|
Qualification : |
Masters degree in Business Administration, Mechanical Engineer |
|
Date of Appointment : |
12.11.2007 |
|
DIN No.: |
01935048 |
|
|
|
|
Name : |
Mr. Ravindra Dhariwal |
|
Designation : |
Director |
|
Address : |
Aashray Farm, Bhatti Mines, Asola Village, New Delhi – 110030, India |
|
Date of Birth/Age : |
11.09.1952 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
18.01.2010 |
|
DIN No.: |
00003922 |
|
|
|
|
Name : |
Mr. Balachandra Lakshmiah Naidu |
|
Designation : |
Director |
|
Address : |
A1302, |
|
Date of Birth/Age : |
05.10.1973 |
|
Qualification : |
MBA |
|
Date of Appointment : |
08.06.2011 |
|
DIN No.: |
02183258 |
|
|
|
|
Name : |
Mr. Nikhil Shah |
|
Designation : |
Director |
|
Address : |
501, Jawaharbad Building, Almeida Park, Mumbai – 400050, Maharashtra,
India |
|
Date of Birth/Age : |
27.11.1978 |
|
Date of Appointment : |
30.04.2012 |
|
DIN No.: |
01599734 |
KEY EXECUTIVES
|
Name : |
Mrs. Harshita Pradip Ashar |
|
Designation : |
Secretary |
|
Address : |
A503, Swapna Sangeet, Swapna Nagari, Mulund (West), Mumbai – 400 080, |
|
Date of Birth/Age : |
21.06.1985 |
|
Date of Appointment : |
31.01.2011 |
|
PAN No.: |
AKOPA7877P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 13.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Bennett, Coleman and Company Limited (BCCL), India |
|
31999995 |
|
A. P. Parigi jointly with BCCL, India |
|
1 |
|
S. Sivakumar jointly with BCCL, India |
|
1 |
|
Prashant Panday jointly with BCCL, India |
|
1 |
|
Ravindra Dhariwal jointly with BCCL, India |
|
1 |
|
N. Subramanian jointly with BCCL, India |
|
1 |
|
GS Strategic Investments Limited, Mauritius |
|
3174604 |
|
LB India Holdings Mauritius II Limited, Mauritius |
|
3174604 |
|
|
|
|
|
Total |
|
38349208 |
Equity Share Break up (Percentage of Total Equity)
As on: 13.08.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
16.56 |
|
Bodies corporate |
|
83.44 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The principal activity of the Subject is Outdoor Media Advertising
Business. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
The Hongkong and
Shanghai Banking Corporation Limited, 52/60, Mahatma Gandhi Road, Fort,
Mumbai – 400001, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai, Maharashtra, India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Fellow Subsidiary
Company
: |
CIN No.: L92140MH1999PLC120516
CIN No.: U92190MH2007PLC175549
CIN No.: U65990MH1983PLC029209
CIN No.: U74999DL1999PLC135531
CIN No.: U74992MH2006PLC163048
CIN No.: U92100DL2005PLC173555
CIN No.: U74300MH2008PLC184669
CIN No.: U22120MH2003PTC142239 |
|
|
|
|
Subsidiary Company
: |
TIM Delhi Airport Advertising Private Limited CIN No.: U74999DL2010PTC203419 |
|
|
|
|
Holding Company : |
CIN No.: U22120MH1913PLC000391
CIN No.: U72900MH2002PLC134966 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38349208 |
Equity Shares |
Rs.10/- each |
Rs.383.492
Millions |
|
|
|
|
|
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 |
383.492 |
383.492 |
383.492 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
516.315 |
381.770 |
1923.651 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(1496.740) |
|
|
NETWORTH |
899.807 |
765.262 |
810.403 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
647.000 |
700.000 |
240.054 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
195.000 |
|
|
TOTAL BORROWING |
647.000 |
700.000 |
435.054 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1546.807 |
1465.262 |
1245.457 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
552.587 |
596.223 |
556.732 |
|
|
Capital work-in-progress |
3.299 |
6.935 |
27.735 |
|
|
|
|
|
|
|
|
INVESTMENT |
300.430 |
150.250 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
474.499
|
414.530 |
586.658 |
|
|
Cash & Bank Balances |
109.365
|
49.072 |
36.702 |
|
|
Other Current Assets |
0.134
|
0.105 |
0.000 |
|
|
Loans & Advances |
467.969
|
767.296 |
481.136 |
|
Total
Current Assets |
1051.967
|
1231.003 |
1104.496 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
70.853
|
107.994 |
367.280 |
|
|
Other Current Liabilities |
52.409
|
137.112 |
70.281 |
|
|
Provisions |
238.214
|
274.043 |
5.945 |
|
Total
Current Liabilities |
361.476
|
519.149 |
443.506 |
|
|
Net Current Assets |
690.491
|
711.854 |
660.990 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1546.807 |
1465.262 |
1245.457 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1641.315 |
1659.450 |
1561.132 |
|
|
|
Other Income |
75.057 |
32.239 |
2.038 |
|
|
|
TOTAL (A) |
1716.372 |
1691.689 |
1563.170 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
149.973 |
|
|
|
|
|
Expenditure on production, transportation and other expenditure pertaining to E and P activities |
1186.224 |
1155.681 |
|
|
|
|
Other expenses |
93.257 |
261.514 |
|
|
|
|
TOTAL (B) |
1429.454 |
1566.394 |
1708.467 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
286.918 |
125.295 |
(145.297) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
56.966 |
58.619 |
74.687 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
229.952 |
66.676 |
(219.984) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
94.704 |
111.816 |
153.457 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
135.248 |
(45.140) |
(373.441) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.703 |
0.000 |
16.562 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
134.545 |
(45.140) |
(390.003) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1541.880) |
(1496.740) |
(1106.737) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1407.335) |
(1541.880) |
(1496.740) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2.234 |
32.394 |
49.254 |
|
|
|
Commission Earnings |
|
|
|
|
|
|
Other Earnings |
|
|
|
|
|
TOTAL EARNINGS |
2.234 |
32.394 |
49.254 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
NA |
7.547 |
|
|
TOTAL IMPORTS |
NA |
NA |
7.547 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
3.51 |
(1.18) |
(10.17) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.84 |
(2.67)
|
(24.95)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.24 |
(2.72)
|
(23.92)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.43 |
(2.47)
|
(22.48)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
(0.06)
|
(0.46)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.72 |
0.91
|
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.91 |
2.37
|
2.49 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
In Millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
70.853
|
107.994 |
367.280 |
|
|
|
|
|
|
Total |
70.853
|
107.994 |
367.280 |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS
During the financial year, the OOH industry grew by 7.6% to reach Rs. 17800.000 Millions wherein TIML strengthened its leadership position and increased market share to reach 18.4% and continued to maintain its leadership position in the markets it operates such as Delhi and Mumbai.
Revenues for the year grew by 12% on a standalone basis and 24% on consolidated basis.
The year was marked by tighter control on costs and focus on leveraging operational efficiencies of the business to generate incremental returns. Efficient utilization of current assets and focus on increased productivity marked the year. The manpower productivity has improved by 8% during the year to reach Rs. 20.000 Millions per employee.
FIXED ASSETS:
Tangible Assets
- Buildings
- Factory Building
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
- Leasehold Improvements
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.54.38 |
|
|
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
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.