MIRA INFORM REPORT
|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ZOOM ENTERTAINMENT NETWORK LIMITED (w.e.f. 26.07.2007) |
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|
|
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Formerly Known
As : |
ZOOM ENTERTAINMENT NETWORK PRIVATE LIMITED (w.e.f. 28.05.2007) BHAVANI SHARES AND STOCKS PRIVATE LIMITED |
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Registered
Office : |
First Floor, Trade Garden, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
11.07.2006 |
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Com. Reg. No.: |
11-163048 |
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Capital
Investment / Paid-up Capital : |
Rs. 176.426 millions |
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CIN No.: [Company Identification
No.] |
U74992MH2006PLC163048 |
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PAN No.: [Permanent Account No.] |
AAACZ2897B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Entertainment Services. |
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No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of Bennett Coleman and Company
Limited. It has a satisfactory track record. Company has been successful in reducing the accumulated losses during
2012. Profit appears to be low. However, the subject gets strong managerial and financial support from
the holding company. Trade relations are fair. Business is active. Payments are recorded as
slow but correct. In view of experienced promoters and directors, 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.
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 (GENERAL DETAILS)
|
Name : |
Mr. Karan |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-24810000 |
|
Date : |
25.05.2013 |
LOCATIONS
|
Registered Office : |
First Floor, Trade Garden, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
Tel. No.: |
91-22-24810000 / 66353535 |
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Fax No.: |
91-22-24908711 / 24990307 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
DIRECTORS
As on 09.07.2012
|
Name : |
Mr. Ravi Dhariwal |
|
Designation : |
Director |
|
Address : |
Aashray Farm, iihatti Mines, Asoia Village, New Delhi-110030, India |
|
Date of Birth/Age : |
11.09.1952 |
|
Qualification : |
MBA, B. TECH |
|
Date of Appointment : |
25.11.2009 |
|
DIN No.: |
00003922 |
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|
|
|
Name : |
Mr. Vineet Jain |
|
Designation : |
Director |
|
Address : |
15, Motilal Nehru Marg, New Delhi, New Delhi-110011, India |
|
Date of Birth/Age : |
12.02.1966 |
|
Qualification : |
Management Graduate |
|
Date of Appointment : |
07.05.2007 |
|
DIN No.: |
00003962 |
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|
|
|
Name : |
Mr. Bhaskar Das |
|
Designation : |
Director |
|
Address : |
C-l Queen's View, 28/30, Walkeshwar Road, Mumbai-400006, Maharashtra, India |
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Date of Birth/Age : |
08.05.1953 |
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Date of Appointment : |
28.05.2007 |
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DIN No.: |
00055594 |
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|
Name : |
Mr. Sunil Lulla |
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Designation : |
Director |
|
Address : |
27 Punam, 67 Napean Sea Road, Mumbai-400006, Maharashtra, India |
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Date of Birth/Age : |
27.01.1961 |
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Qualification : |
Masters In Management Studies |
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Date of Appointment : |
21.05.2010 |
|
DIN No.: |
00110266 |
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|
|
|
Name : |
Mr. Shankar Narayan Ranganathan |
|
Designation : |
Director |
|
Address : |
103, Solitaire Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
19.07.1959 |
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Date of Appointment : |
21.05.2012 |
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DIN No.: |
02804788 |
KEY EXECUTIVES
|
Name : |
Ms. Shweta Chaturvedi |
|
Designation : |
Secretary |
|
Address : |
Flat 1004, MWing, Bhoomi Park, Phase -3, Maive Road, Malad West, Mumbai-400095 |
|
Date of Birth/Age : |
12.01.1978 |
|
Date of Appointment : |
22.05.2008 |
|
PAN No.: |
AFCPC1167P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 09.07.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Bennett Coleman and Company Limited, India |
|
2642561 |
|
Kaushik Nath Jointly with Bennett Coleman and Company Limited,
India |
|
10 |
|
Sridhar Mahadevan Jointly with Bennett Coleman and Company
Limited, India |
|
10 |
|
K.N. Srivathsan Jointly with Bennett Coleman and Company
Limited, India |
|
10 |
|
Vijay Devadiga Jointly with Bennett Coleman and Company Limited,
India |
|
10 |
|
P. S Viswanathan Jointly with Bennett Coleman and Company
Limited, India |
|
10 |
|
Ms. Shweta Chaturvedi Jointly with Bennett Coleman and
Company Limited, India |
|
10 |
|
Total |
|
2642621 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Bennett Coleman and Company Limited, India |
|
15000000 |
|
Total |
|
15000000 |
As on 09.07.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Entertainment Services. |
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Products : |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
70 (Approximately) |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Lodha and Company Chartered Accountants |
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Address : |
6, Karim Chambers, 40 A Doshi Marg (Hamam Street) |
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PAN No.: |
AABFL1894Q |
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|
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Holding company : |
Bennett Coleman And Company Limited CIN No.: U22120MH1913PLC000391 |
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|
Associate : |
Bennett Property Holdings Company Limited CIN No.: U70102MH2010PLC211087 |
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|
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|
Fellow Subsidiary
company : |
CIN No.: U32109MH1986PLC168454
CIN No.: U74999DL1999PLC135531
CIN No.: U92190MH2007PLC175549
CIN No.: U99999MH2005PLC157078
CIN No.: U92412MH2010PLC208138
CIN No.: U74899DL2000PLC103722 |
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|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Zoom Movies (TV) Limited CIN No.: U92412MH2010PLC202021 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
15000000 |
Preference Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2642621 |
Equity Shares |
Rs.10/- each |
Rs. 26.426 Millions |
|
15000000 |
Preference Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 176.426
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 |
176.426 |
176.426 |
176.426 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
9.928 |
|
|
4] (Accumulated Losses) |
(447.502) |
(714.994) |
(380.365) |
|
|
NETWORTH |
(271.076) |
(538.568) |
(194.011) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
756.878 |
1189.999 |
1189.999 |
|
|
TOTAL BORROWING |
756.878 |
1189.999 |
1189.999 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
485.802 |
651.431 |
995.988 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
97.576 |
216.026 |
117.078 |
|
|
Capital work-in-progress |
0.000 |
16.962 |
11.945 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
124.644 |
172.873 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
174.245
|
135.498 |
112.369 |
|
|
Sundry Debtors |
241.765
|
328.775 |
250.627 |
|
|
Cash & Bank Balances |
28.673
|
91.188 |
795.540 |
|
|
Other Current Assets |
145.230
|
247.652 |
0.000 |
|
|
Loans & Advances |
106.535
|
68.267 |
116.469 |
|
Total
Current Assets |
696.448
|
871.380 |
1275.005 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
284.642
|
552.536 |
165.543 |
|
|
Other Current Liabilities |
17.231
|
16.818 |
409.429 |
|
|
Provisions |
6.349
|
8.227 |
5.941 |
|
Total
Current Liabilities |
308.222
|
577.581 |
580.913 |
|
|
Net Current Assets |
388.226
|
293.799 |
694.092 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
485.802 |
651.431 |
995.988 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
832.597 |
857.775 |
689.870 |
|
|
|
Other Income |
8.111 |
57.788 |
14.428 |
|
|
|
TOTAL (A) |
840.708 |
915.563 |
704.298 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
340.454 |
|
|
|
|
|
Employee benefit expense |
39.693 |
161.864 |
|
|
|
|
Other expenses |
515.603 |
594.771 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(115.871) |
(23.129) |
|
|
|
|
TOTAL (B) |
779.879 |
1219.769 |
728.002 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
60.829 |
(304.206) |
(23.704) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.034 |
1.989 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
57.795 |
(306.195) |
(23.704) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.211 |
38.362 |
40.194 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
3.584 |
(344.557) |
(63.898) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
(0.005) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
3.584 |
(344.557) |
(63.903) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(724.922) |
(380.365) |
(316.462) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(721.338) |
(724.922) |
(380.365) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
23.555 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
75.653 |
0.000 |
|
|
|
License Fees |
|
143.880 |
0.000 |
|
|
|
Transponder Charges |
|
18.792 |
16.846 |
|
|
|
Website Charges |
|
1.075 |
1.805 |
|
|
|
Others |
|
33.111 |
0.000 |
|
|
TOTAL IMPORTS |
271.331 |
272.511 |
18.651 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.00 |
(130.00) |
(24.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.43
|
(37.61) |
(9.07) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.43
|
(40.17) |
(9.26) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.45
|
(31.69) |
(4.59) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
(0.64) |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(2.79)
|
(2.21) |
(6.13) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.26
|
1.51 |
2.19 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditor |
284.642
|
552.536 |
165.543 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE
The registered office of the company has been shifted from The Times OF
India Building, Dr. D. N. Road, Mumbai-400001, Maharashtra, India to the
present address w.e.f. 28.05.2007
COMPANY OVERVIEW
The Company operates Movies Now an English Movie Channel. The Company is a wholly owned subsidiary of Bennett Coleman and Company Limited.
OPERATIONS AND MAJOR
EVENTS DURING THE YEAR
1. Movies Now has been leading the genre since its successful launch in 2010 upsetting established players and challenging industry norms. After being challenged strongly by competition in FY 2012 the channel re-invented its strategies, with constant innovation and tactical initiatives on content, marketing and creative fronts, to successfully counter the attack and was able to retain and consolidate its leadership position.
2. Movies Now delivered Rs 800.000 millions in ad revenues in its first full year of operation and has achieved break-even in FY 2012..
3. Beating Indian and International benchmarks, Movies Now scored a 97% brand recall value with a whopping 70% brand affinity/bonding score. Going forward Movies Now plans to make strategic investments in content and build viewers using tactical and tentpole slotting of content.
SCHEME OF ARRANGEMENT
A Scheme of Arrangement for the transfer, by way of de-merger, of the business of Zoom, the Company’s Bollywood Channel into Bennett Coleman and Company Limited (the holding company) (the Scheme) was sanctioned by the Hon’ble High Court of Judicature at Bombay vide order dated 8th July, 2011, to be given effect to from the appointed date of 1st April, 2011, upon the Company obtaining necessary approvals from the Ministry of Information and Broadcasting, Government of India. The Company has obtained necessary clearances from the Ministry in this regard, pursuant to which the said Scheme has been given effect to in the books of accounts of the Company, which is placed before the Board.
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Bonds/debentures |
606.878 |
1189.999 |
|
Loans and advances from related parties |
150.000 |
0.000 |
|
Total |
756.878 |
1189.999 |
CONTINGENT
LIABILITIES: (AS ON 31.03.2012)
(a) Present obligation arising from a past event, when it is not probable that an outflow of resources will be required to settle the obligation.
(b) A possible obligation, unless the probability of outflow of resources is remote.
Disputed Income tax matters Rs 2.959 millions (Previous year: Rs. 40.349 millions) [excluding additional interest and penalty that may be levied.]
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Leasehold improvements
- Computer software
- Vehicles
- Copyrights, patents and other operating rights
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.55.62 |
|
|
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.96 |
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 |
4 |
|
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 |
4 |
|
--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 |
|
42 |
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.