MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYMANTEC SOFTWARE INDIA PRIVATE LIMITED (w.e.f.
24.10.2007) |
|
|
|
|
Formerly Known
As : |
VERITAS SOFTWARE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
0-5 Floor, Wing 1, Cluster B, Plot # 1, Survey # 77, MIDC Knowledge
Park, EON, Kharadi, Pune
– 411014, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-092611 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.317.734
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH1995FTC092611 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEV04026B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV6015F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing
Research and Development ('R and D') and Software consultancy services; and providing
Technical Support services. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 23300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Symantec Operating Corporation, USA’. It
is a well-established company having a good track record. The performance capability of the company seems to be high. It
operates on its own funds. Trade relations are reported as trustworthy. Business is active.
Payment terms are regular and as per commitment. The company can be considered
good 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’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000
denominations, pushing the deadline to January 1, 2015. A day before dates for
the Lok Sabha polls were
announced, the government decided to hike interest rates on fixed deposit
schemes offered by post offices up to 0.2 per cent. The new rates will be
effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s
appeal against a ruling over transferring ownership of its local mobile phones
plant which is the subject of a tax dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into
Hindustan Aeronautics Limited’s contracts from
Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau
of Investigation will look into allegations that over $80 million was paid in
kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a
solution for problems with state-owned Air India’s 787 Dreamliners.
The aircraft has experienced a series of malfunctions since its debut in 2011.
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. Swapnil Bhoskar
|
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-66157000 |
|
Date : |
10.04.2014 |
LOCATIONS
|
Registered Office : |
0-5 Floor, Wing 1, Cluster B, Plot # 1, Survey # 77, MIDC Knowledge
Park, EON, Kharadi, Pune
– 411014, Maharashtra, India |
|
Tel. No.: |
91-20-67351001 / 66157000 / 66428030 |
|
Fax No.: |
91-20-66157709 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
2nd Floor, City Tower, 17, Opposite Ekbote
Futnitire, Dhole Patil Road, Pune – 411 001, Maharashtra, India |
|
Tel. No.: |
91-20-66428030 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Shantanu Ghosh |
|
Designation : |
Director |
|
Address : |
A-303, 10, Kastur Kunj,
ICS Colony, Bhosale Nagar,
Pune – 411 007, Maharashtra,
India |
|
Date of Birth/Age : |
30.05.1964 |
|
Date of Appointment : |
30.01.2008 |
|
PAN No.: |
AEIPG1441B |
|
DIN No.: |
00955230 |
|
|
|
|
Name : |
Mr. Amit Mukund Godbole |
|
Designation : |
Director |
|
Address : |
29, Anant Raghukul
Society, Karve Nagar, Pune – 411 052, Maharashtra,
India |
|
Date of Birth/Age : |
19.07.1973 |
|
Date of Appointment : |
30.11.2009 |
|
PAN No.: |
ACQPG6974M |
|
DIN No.: |
02681249 |
|
|
|
|
Name : |
Ms. Eunice Jeeyoon Kim |
|
Designation : |
Director |
|
Address : |
221, Swallowtail Court, Brisbain, California
– 95087, USA |
|
Date of Birth/Age : |
11.07.1973 |
|
Date of Appointment : |
30.11.2009 |
|
DIN No.: |
02673925 |
KEY EXECUTIVES
|
Name : |
Mr. Swapnil Bhoskar
|
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Symantec Corporation, USA |
8599980 |
27.07 |
|
Symantec Operating Corporation, USA |
23173386 |
72.93 |
|
Total |
31773366 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial
institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Research
and Development ('R and D') and Software consultancy services; and providing
Technical Support services. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/ 60/ 90 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/ 60/ 90 days) |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
|
|
|
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
IDBI Bank Limited, Dnyaneshwar Paduka Chowk, F.C. Road, Pune – 411004, Maharashtra,
India Contact No.: 91-20-66030300 |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.S.R. and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castelmaine, Bund Garden Road, Next to Ruby Hall Clinic, Pune – 411 001, Maharashtra,
India |
|
Tel. No.: |
91-20-30585764/ 30585765 |
|
Fax No.: |
91-20-30585775 |
|
Website : |
|
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Holding Company : |
·
Symantec Operating Corporation, USA |
|
|
|
|
Ultimate Holding Company: |
·
Symantec Corporation, USA |
|
|
|
|
Fellow Subsidiaries : |
·
Bindview India Private
Limited, India CIN No.: U72200MH1995FTC087269 ·
Symantec Limited, Ireland ·
Symantec Software and Services India Private
Limited, India CIN No.: U72200TN2007PTC062278 ·
Symantec Software Solutions Private Limited,
India CIN No.: U72900MH2001FTC130501 ·
Symantec Asia Pacific Pte
Limited, Singapore ·
Bindview Corporation,
USA |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
83000000 |
Equity Shares |
Rs.10/- each |
Rs.830.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31773366 |
Equity Shares |
Rs.10/-each |
Rs.317.734
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 |
317.734 |
317.734 |
317.734 |
|
(b) Reserves & Surplus |
5,499.095 |
4,782.405 |
4,253.992 |
|
(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) |
5,816.829 |
5,100.139 |
4,571.726 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
81.966 |
75.385 |
80.782 |
|
(d) long-term provisions |
396.521 |
293.853 |
205.444 |
|
Total Non-current Liabilities (3) |
478.487 |
369.238 |
286.226 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
114.959 |
50.265 |
103.560 |
|
(c) Other current
liabilities |
580.870 |
498.580 |
378.068 |
|
(d) Short-term provisions |
69.380 |
63.374 |
67.765 |
|
Total Current Liabilities (4) |
765.209 |
612.219 |
549.393 |
|
|
|
|
|
|
TOTAL |
7,060.525 |
6,081.596 |
5,407.345 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2,306.945 |
1,026.688 |
955.473 |
|
(ii) Intangible Assets |
32.378 |
15.908 |
36.422 |
|
(iii) Capital
work-in-progress |
306.938 |
353.204 |
102.614 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.050 |
0.050 |
0.050 |
|
(c) Deferred tax assets (net) |
206.121 |
212.064 |
193.787 |
|
(d) Long-term Loan and Advances |
485.973 |
493.700 |
413.528 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3,338.405 |
2,101.614 |
1,701.874 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
10.110 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
395.830 |
319.429 |
321.206 |
|
(d) Cash and cash
equivalents |
1,606.918 |
2,043.650 |
2,011.300 |
|
(e) Short-term loans and
advances |
1,433.266 |
1,438.695 |
1,354.174 |
|
(f) Other current assets |
286.106 |
178.208 |
8.681 |
|
Total Current Assets |
3,722.120 |
3,979.982 |
3,705.471 |
|
|
|
|
|
|
TOTAL |
7,060.525 |
6,081.596 |
5,407.345 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
GROSS SALES |
7862.743 |
6382.039 |
5298.036 |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1862.743 |
1492.977 |
1370.446 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
844.026 |
684.340 |
706.843 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
1018.717 |
808.637 |
663.603 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
302.027 |
280.224 |
197.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
716.690 |
528.413 |
466.108 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3985.113 |
3456.700 |
2990.592 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4701.803 |
3985.113 |
3456.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Technical Service Fees |
7824.341 |
6382.039 |
5298.036 |
|
|
TOTAL EARNINGS |
7824.341 |
6382.039 |
5298.036 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.56 |
16.63 |
14.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.56 |
14.66 |
12.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.16 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.86 |
6.50 |
6.74 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Share Capital |
317.734 |
317.734 |
317.734 |
|
Reserves & Surplus |
4253.992 |
4782.405 |
5499.095 |
|
Net
worth |
4571.726 |
5100.139 |
5816.829 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Gross Sales |
5,298.036 |
6,382.039 |
7,862.743 |
|
|
|
20.460 |
23.201 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Gross Sales |
5,298.036 |
6,382.039 |
7,862.743 |
|
Profit |
466.108 |
528.413 |
716.690 |
|
|
8.80% |
8.28% |
9.12% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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 |
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 |
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 |
BACKGROUND
The Company is a software development centre, technical support services
provider and software consultancy services provider for Symantec group
companies namely Symantec Operating Corporation, USA (‘SOC’) and Symantec
Corporation, USA (‘SC’). The Company’s Ultimate Parent Company is SC, USA.
SSIPL is registered with Software Technology Park of India (‘STPI’), Pune. On 10th August 2012, SSIPL has set up a new unit
which is registered under the EON Kharadi Special
Economic Zone (SEZ).
OPERATIONS
For the period ended on March 31, 2013, Company has earned an income of Rs.7824.341 Millions as compared to Rs.6382.039 Millions in previous year showing an increase. The Company has earned a Net Profit of Rs.716.690 Millions as against a profit of Rs.528.413 Millions in the previous year showing a marginal increase. In overall, the business of the Company has managed to improve and perform better even in the global economic slowdown which has impacted most of the Industries.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.21 |
|
|
1 |
Rs.101.50 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
67 |
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.