|
Report Date : |
21.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE BIG TV LIMITED (w.e.f.24.12.2008) |
|
|
|
|
Formerly Known
As : |
RELIANCE BIG TV PRIVATE LIMITED (w.e.f.28.09.2007) RELIANCE BLUE MAGIC PRIVATE LIMITED (w.e.f.02.09.2005) RELIANCE SKY MAGIC PRIVATE LIMITED (w.e.f.07.07.2005) RELIANCE INFRASTRUCTURE UTILITIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H Block, 1st Floor, Dhirubhai Ambani, Knowledge City, Navi
Mumbai - 400710, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-153294 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45203MH2005PLC153294 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR0351B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is in the Business of Direct-to-Home (DTH)
Broadcasting services, transmitting multi-channel TV programmes by using
Satellite system and providing TV signals direct to subscriber's premises. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Reliance Group. It is an established company
having moderate track record. There appear huge accumulated losses recorded by the company. Profitability
of the company is under pressure. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow. The company can be considered for business dealings 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.
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-COOPERATIVE [91-22-30386286]
LOCATIONS
|
Registered Office : |
H Block, 1st Floor, Dhirubhai Ambani, Knowledge City, Navi
Mumbai - 400710, Maharashtra, India |
|
Tel. No.: |
91-22-30386286 |
|
Fax No.: |
91-22-30376622 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Gautam Bhailal Doshi |
|
Designation : |
Director |
|
Address : |
B 131, Grand Paradi August Kranti Marg, Mumbai - 400036, Maharashtra,
India |
|
Date of Birth/Age : |
23.12.1952 |
|
Qualification : |
FCA |
|
Date of Appointment : |
14.12.2007 |
|
DIN No.: |
00004612 |
|
|
|
|
Name : |
Mr. Amit J Khanna |
|
Designation : |
Director |
|
Address : |
301, Sea Star, Balraj Sahani Marg, Near Holiday Inn, Juhu, Mumbai -
400049, Maharashtra, India |
|
Date of Birth/Age : |
01.03.1951 |
|
Qualification : |
B.A (Hons.) |
|
Date of Appointment : |
07.06.2005 |
|
DIN No.: |
00005430 |
|
|
|
|
Name : |
Mr. Hasit Navinchandra Shukla |
|
Designation : |
Director |
|
Address : |
403, “Sabita Co-Operative Housing Society Limited, 16th Road,
Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
28.08.1962 |
|
Qualification : |
B.Com, ACS, LLB |
|
Date of Appointment : |
10.10.2009 |
|
DIN No.: |
00004549 |
KEY EXECUTIVES
|
Name : |
Mr. Hitesh K Chawda |
|
Designation : |
Company Secretary and Manager |
|
Address : |
602, R. S. Regency, Plot No. 4, Opposite Terna Polytechnic Sector, 2A,
Koparkhairne, Navi Mumbai - 400710, Maharashtra, India |
|
Date of Birth/Age : |
21.06.1969 |
|
Date of Appointment : |
14.12.2007 |
|
PAN No.: |
ABWPC9268K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2011
|
Names of Shareholders |
No. of Shares |
|
Reliance Communications Limited, India |
9999940 |
|
Anil D Ambani Jointly with Reliance Communications Limited |
10 |
|
Satish Seth Jointly with Reliance Communications Limited |
10 |
|
Amitabh Jhunjhunwala Jointly with Reliance Communications Limited |
10 |
|
Gautam Doshi Jointly with Reliance Communications Limited |
10 |
|
Hasit Shukla Jointly with Reliance Communications Limited |
10 |
|
Surendera Pipara Jointly with Reliance Communications Limited |
10 |
|
|
|
|
Total |
10000000 |
AS ON 29.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the Business of Direct-to-Home (DTH)
Broadcasting services, transmitting multi-channel TV programmes by using Satellite
system and providing TV signals direct to subscriber's premises. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pathak H.D. and Associates Chartered Accountants |
|
Address : |
709, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400021,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFP1031C |
|
|
|
|
Holding company : |
Reliance Communications Limited [L45309MH2004PLC147531] |
|
|
|
|
Ultimate Holding Company : |
Reliance Innoventures Private Limited |
|
|
|
|
Fellow Subsidiary company : |
· Reliance Communications Infrastructure Limited [U64203MH1997PLC166329] · Reliance Infocomm Infrastructure Private Limited [U45300MH1993PTC173775] · Reliance Tech Services Private Limited [U72900MH2007PTC172690] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
100.000 |
100.000 |
|
(b) Reserves & Surplus |
|
(5026.400) |
(3346.400) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
(4926.400) |
(3246.400) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
5675.700 |
3584.100 |
|
(b)
Trade payables |
|
2051.600 |
2341.800 |
|
(c)
Other current liabilities |
|
559.300 |
684.700 |
|
(d)
Short-term provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
|
8286.600 |
6610.600 |
|
|
|
|
|
|
TOTAL |
|
3360.200 |
3364.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
839.200 |
936.200 |
|
(ii)
Intangible Assets |
|
1192.500 |
1430.300 |
|
(iii)
Capital work-in-progress |
|
161.800 |
177.500 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
37.500 |
17.500 |
|
(e)
Other Non-current assets |
|
30.900 |
10.900 |
|
Total
Non-Current Assets |
|
2261.900 |
2572.400 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
49.200 |
25.800 |
|
(d)
Cash and cash equivalents |
|
2.100 |
25.000 |
|
(e)
Short-term loans and advances |
|
1046.900 |
740.900 |
|
(f)
Other current assets |
|
0.100 |
0.100 |
|
Total
Current Assets |
|
1098.300 |
791.800 |
|
|
|
|
|
|
TOTAL |
|
3360.200 |
3364.200 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
100.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(1899.769) |
|
|
NETWORTH |
|
|
(1799.769) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2846.473 |
|
|
TOTAL BORROWING |
|
|
2846.473 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1046.704 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2543.299 |
|
|
Capital work-in-progress |
|
|
131.884 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.034 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
19.353
|
|
|
Cash & Bank Balances |
|
|
64.350
|
|
|
Other Current Assets |
|
|
10.369
|
|
|
Loans & Advances |
|
|
704.298
|
|
Total
Current Assets |
|
|
798.370 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1559.242
|
|
|
Other Current Liabilities |
|
|
865.707
|
|
|
Provisions |
|
|
1.934
|
|
Total
Current Liabilities |
|
|
2426.883 |
|
|
Net Current Assets |
|
|
(1628.513)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1046.704 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3642.400 |
3291.600 |
2668.763 |
|
|
|
Other Income |
13.500 |
7.600 |
4.825 |
|
|
|
TOTAL (A) |
3655.900 |
3299.200 |
2673.588 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3498.600 |
3212.900 |
2485.533 |
|
|
|
Other expenses |
1116.100 |
997.500 |
810.435 |
|
|
|
TOTAL (B) |
4614.700 |
4210.400 |
3295.968 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(958.800) |
(911.200) |
(622.380) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
80.100 |
(57.700) |
6.803 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1038.900) |
(853.500) |
(629.183) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
641.100 |
593.100 |
439.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(1680.000) |
(1446.600) |
(1068.283) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(1680.000) |
(1446.600) |
(1068.283) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(3346.283) |
(1899.683) |
(831.400) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(5026.283) |
(3346.283) |
(1899.683) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
257.400 |
444.200 |
227.295 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(168.00) |
(144.66) |
(106.83) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(45.95)
|
(43.85)
|
(39.96)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(46.12)
|
(43.95)
|
(40.03)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(34.10)
|
(44.56)
|
(59.36)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.45 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(1.15)
|
(1.10)
|
(1.58)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.13
|
0.12 |
0.33 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
5231.100 |
3194.500 |
|
Other loans and advances |
444.600 |
389.600 |
|
|
|
|
|
Total |
5675.700 |
3584.100 |
Note:
The Registered office of the company has been shifted from 3rd
Floor, Reliance Energy Centre, Santacruz (East), Mumbai - 400055, Maharashtra,
India to present address w.e.f.25.10.2007
COMPANY OVERVIEW
The Company is in the Business of Direct-to-Home (DTH) Broadcasting services, transmitting multi-channel TV programmes by using Satellite system and providing TV signals direct to subscriber's premises.
The Company has entered into a License Agreement with the Ministry of Information and Broadcasting to provide DTH services on24th May, 2007 with a validity period of Ten Years. The validity period of License shall be reckoned from the date of issue of operating License by the Wireless Planning and Co-ordination (WPC). The Company has received operating License from WPC on 28th November, 2007.
Effective from 25th October 2007, the Company has become a wholly owned subsidiary of Reliance Communications Limited, pursuant to purchase of 100% Equity Shares.
The Company Commenced its Commercial Operation on 19th August,
2008
OPERATIONS
During the year, the Company have launched the stand alone HD Set Top Box (STB) offering the most comprehensive product line up inclusive of Standard Defination (SD), HD and HD DVR STB. The Company also first one to offer all 250 channels in HD like quality, as compared to a few channels offered by their competitors. They are one of the six players in the industry, with market share of 10 per cent.
The Company has entered into various contracts in the areas
of DTH and value added service businesses. While benefits from such contracts
will accrue in the future years, their progress is periodically reviewed.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
1) Bank Guarantee (against the Corporate Guarantee given by Holding Company) |
994.600 |
941.300 |
|
2) Disputed Tax Liabilities in Appeal |
9.100 |
0.000 |
FIXED ASSETS:
Intangible Assets
· Brands and trade marks
· Brands
· Licenses and franchise
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. 61.28 |
|
|
1 |
Rs. 99.03 |
|
Euro |
1 |
Rs. 83.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
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.