|
Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEXT RADIO LIMITED (w.e.f.19.04.2013) |
|
|
|
|
Formerly Known
As : |
RADIO ONE LIMITED RADIO MID-DAY WEST (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Peninsula Centre, Dr. S S Rao Road, Parel East, Mumbai – 400012,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.10.1999 |
|
|
|
|
Com. Reg. No.: |
11-122233 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1592.638 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32201MH1999PLC122233 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
FM Radio Broadcasting Operation. |
|
|
|
|
No. of Employees
: |
130 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appear accumulated losses recorded by the company during
financial year 2013. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow. The company can be considered for business dealing with some caution. |
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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term bank facilities : B |
|
Rating Explanation |
Risk prone-credit quality very high credit risk. |
|
Date |
31 July 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term bank facilities : A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
31 July 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Shailesh |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-67527033 |
|
Date : |
30.09.2013 |
LOCATIONS
|
Registered Office : |
Peninsula Centre, Dr. S S Rao Road, Parel East, Mumbai – 400012,
Maharashtra |
|
Tel. No.: |
91-22-67527033/67015700 |
|
Fax No.: |
91-22-67015701 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 25.06.2012
|
Name : |
Mr. Vineet Singh Hukmani |
|
Designation : |
Managing director |
|
Address : |
V-407, Mahagun Morpheus, E-4, Sector – 50, Noida – 201301, Uttar
Pradesh, India |
|
Date of Birth/Age : |
25.10.1966 |
|
Qualification: |
BE in Electronics and M.B.A in Marketing |
|
Date of Appointment : |
30.06.2009 |
|
PAN No.: |
ABPPH2395K |
|
DIN No.: |
02514684 |
|
|
|
|
Name : |
Mr. Adille Jehangir Sumariwalla |
|
Designation : |
Director |
|
Address : |
C-18, Goderaj Baug, Off Nepen Sea Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
01.01.1958 |
|
Qualification: |
Masters degree in Commerce (Management), and Executive MBA |
|
Date of Appointment : |
08.09.2011 |
|
DIN No.: |
00045855 |
|
|
|
|
Name : |
Mr. Dilip Cherian |
|
Designation : |
Director |
|
Address : |
A-20, First Floor, Nizamuddin East, New Delhi – 110013, India |
|
Date of Birth/Age : |
10.04.1956 |
|
Qualification: |
MA in Economics |
|
Date of Appointment : |
19.07.2010 |
|
DIN No.: |
00322763 |
|
|
|
|
Name : |
Mr. Preet Kamal Dhupar |
|
Designation : |
Director |
|
Address : |
1103, Tower 2, Palms, South City 1, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
05.03.1968 |
|
Date of Appointment : |
08.09.2011 |
|
DIN No.: |
00534287 |
KEY EXECUTIVES
|
Name : |
Mr. Shailesh |
|
Designation : |
Account Department |
|
|
|
|
Name : |
Mr. Pravin Karambelkar |
|
Designation : |
Secretary |
|
Address : |
14/525, Abhinav Sahyadri Society, D.N Nagar, Andheri ( West) , Mumbai
– 400053, Maharashtra, India |
|
Date of Birth/Age : |
09.06.1980 |
|
Date of Appointment : |
01.08.2011 |
|
PAN No.: |
ASIPK9689D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.06.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Next Mediaworks Limited, India |
|
84376923 |
|
Abdul Aziz Khatri as nominee of Next Mediaworks Limited, India |
|
1 |
|
Manajit Ghoshal as nominee of Next Mediaworks Limited, India |
|
1 |
|
Hari Mathur as nominee of Next Mediaworks Limited, India |
|
1 |
|
Vidya Shembekar as nominee of Next Mediaworks Limited, India |
|
1 |
|
BBC World wide Holding B.V |
|
24287982 |
|
Rare Enterprises |
|
5000000 |
|
Rekesh Jhunjhunwala |
|
5000000 |
|
Axis Bank Limited, India |
|
2775000 |
|
Anand Sutaria as nominee of Next Mediaworks Limited, India |
|
1 |
|
|
|
|
|
Total |
|
121439910 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Next Mediaworks Limited, India |
|
25770000 |
|
|
|
|
|
Total |
|
25770000 |
As on 25.07.2012
|
Names of Allottees (Equity Shares) |
|
No. of Shares |
|
Next Mediaworks Limited, India |
|
12053847 |
|
|
|
|
|
Total |
|
12053847 |
Equity Share Break up (Percentage of Total Equity)
As on 25.06.2012
|
Category |
Percentage |
|
Nationalised or
other banks |
2.29 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
20.00 |
|
Bodies corporate |
69.48 |
|
Other top fifty shareholders |
8.23 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
FM Radio Broadcasting Operation. |
||||
|
|
|
||||
|
Products / Services: |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Purchasing : |
Depend |
GENERAL INFORMATION
|
Customers : |
Advertising Company |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
130 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
42 Free Press House, 4th Floor , 215 Nariman Point, Mumbai
– 400021, Maharashtra, India |
|
7PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFH2010F |
|
|
|
|
Holding Company: |
CIN: L22100MH1981PLC024052 |
|
|
|
|
Fellow Subsidiaries: |
|
|
|
|
|
Under control of Management |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
138930000 |
Equity Shares |
Rs.10/- each |
Rs. 1389.300 Millions |
|
25770000 |
Preference Shares |
Rs.10/- each |
Rs. 257.700 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1647.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
133493757 |
Equity Shares |
Rs.10/- each |
Rs. 1334.938
Millions |
|
25770000 |
Preference Shares |
Rs.10/- each |
Rs. 257.700 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1592.638
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1592.638 |
1472.099 |
1472.099 |
|
(b) Reserves & Surplus |
(784.205) |
(778.769) |
(648.599) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
808.433 |
693.330 |
823.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
120.969 |
195.409 |
256.409 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.230 |
2.170 |
1.934 |
|
Total Non-current
Liabilities (3) |
123.199 |
197.579 |
258.343 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
59.561 |
97.945 |
56.850 |
|
(b) Trade
payables |
63.734 |
43.802 |
98.860 |
|
(c) Other
current liabilities |
142.174 |
268.017 |
216.628 |
|
(d) Short-term
provisions |
0.473 |
0.247 |
0.448 |
|
Total Current
Liabilities (4) |
265.942 |
410.011 |
372.786 |
|
|
|
|
|
|
TOTAL |
1197.574 |
1300.920 |
1454.629 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
149.149 |
163.380 |
148.455 |
|
(ii)
Intangible Assets |
325.087 |
422.545 |
520.721 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.00 |
|
(c) Deferred tax assets (net) |
424.339 |
451.391 |
438.108 |
|
(d) Long-term Loan and Advances |
61.239 |
70.061 |
110.988 |
|
(e) Other
Non-current assets |
20.064 |
27.521 |
27.660 |
|
Total Non-Current
Assets |
979.878 |
1134.898 |
1245.932 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
173.050 |
120.150 |
154.482 |
|
(d) Cash
and cash equivalents |
6.154 |
6.893 |
21.284 |
|
(e)
Short-term loans and advances |
35.981 |
31.085 |
27.840 |
|
(f) Other
current assets |
2.511 |
7.894 |
5.091 |
|
Total
Current Assets |
217.696 |
166.022 |
208.697 |
|
|
|
|
|
|
TOTAL |
1197.574 |
1300.920 |
1454.629 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
512.591 |
435.301 |
441.366 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
512.591 |
435.301 |
441.366 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
106.475 |
111.301 |
94.231 |
|
|
|
Other expenses |
221.914 |
321.415 |
306.542 |
|
|
|
Prior period items |
3.031 |
4.269 |
0.000 |
|
|
|
Exceptional items |
38.543 |
(38.543) |
(93.310) |
|
|
|
TOTAL (B) |
369.963 |
398.442 |
307.463 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
142.628 |
36.859 |
133.903 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
57.069 |
63.360 |
68.753 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
85.559 |
(26.501) |
65.150 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
121.199 |
116.952 |
115.950 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(35.640) |
(143.453) |
(50.800) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
27.052 |
(13.283) |
10.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(62.692) |
(130.170) |
(61.121) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(loss) Per Share (Rs.) |
(0.171) |
(1.32) |
(0.83) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(12.23)
|
(29.90) |
(13.85) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(6.95)
|
(32.95) |
(11.51) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.61)
|
(16.89) |
(5.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04)
|
(0.21) |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.22
|
0.42 |
0.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82
|
0.40 |
0.56 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
NA |
0.000 |
0.000
|
|
|
|
|
|
|
Total |
NA |
0.000 |
0.000
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
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 |
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 |
BUSINESS
OPERATIONS:
All the 7 (seven) stations of the Company across the country were
operational during the year as per the Licence granted by the Ministry of
Information and Broadcasting. During the year management with the objective of
making the operations to profitability, decided to change the programming
strategy for Mumbai and Delhi.
The Government has announced Phase III of the FM radio licensing policy.
This will extend FM radio services to 294 new cities and offers an opportunity
to the Company to expand its broadcasting network.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Intercorporate borrowings |
34.730 |
140.409 |
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
20.000 |
36.500 |
|
Total |
54.730 |
176.909 |
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10413745 |
06/03/2013 |
60,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
DADAR BRANCH,
CASA MARIA BLDG., PLOT NO.797, VIJAY, MANJAREKAR PATH NR. PORTUGUESE
CHURCH,GOKHALE RD, MUMBAI, MAHARASHTRA - 400028, INDIA |
B71428569 |
|
2 |
10259814 |
26/11/2010 |
75,000,000.00 |
AXIS BANK LIMITED |
201, GROUND
FLOOR, "ATLANTA", NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021,
INDIA |
B02456572 |
|
3 |
10138594 |
12/07/2012 * |
57,200,000.00 |
BANK OF BARODA |
F-4, EVEREST BUILDING,
TARDEO, MUMBAI, MAHARASHTRA - 400034, INDIA |
B44362325 |
|
4 |
80006426 |
28/05/2009 * |
550,000,000.00 |
AXIS BANK LIMITED |
209, ATLANTA
BUILDING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A63859656 |
Note: * Date of charge
modification
FIXED ASSETS
Tangible assets
Intangible assets
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.62.78 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.