MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAS-AGT SYSTEMS LIMITED (w.e.f. 20.03.2014) |
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|
|
|
Formerly Known
As : |
AVANA INTEGRATED SYSTEMS LIMITED (w.e.f.
20.08.2010) AVANA INTEGRATED SYSTEMS PRIVATE LIMITED (w.e.f.
01.04.2010) TRIF ERECTORS PRIVATE LIMITED |
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Registered
Office : |
Bombay House, 24, Homi Mody
Street, Fort, Mumbai – 400001, Maharashtra |
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|
Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
05.12.2008 |
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|
|
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Com. Reg. No.: |
11-188713 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
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CIN No.: [Company Identification
No.] |
U72900MH2008PLC188713 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Offers homeland security solutions. |
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|
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 586000 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Tata Advanced
Systems Limited. It is an established company having satisfactory track
record. There appears sharp dip in sales turnover of the company during
financial year 2013. However, the rating takes in to consideration managerial and financial
support that company receives from its parent company. Further general
financial position of the company seems decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of strong holding support, the company can be considered 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. Vikas Gupta |
|
Designation : |
General Manager Finance |
|
Date : |
10.04.2014 |
LOCATIONS
|
Registered Office : |
Bombay House, 24, Homi Mody
Street, Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-66657373 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
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|
|
|
Corporate Office : |
7th Floor, IFCI Tower, 61, Nehru Place, New Delhi - 110 019, India |
|
Tel. No.: |
91-11-66070600 |
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Fax No.: |
91-11-66070699 |
DIRECTORS
As on: 06.09.201
|
Name : |
Mr. Sukaran Singh |
|
Designation : |
Director |
|
Address : |
Flat No.4B, Sett Minar, Building, Pedder Road , Opposite Jaslok Hospital, Mumbai- 400026, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1969 |
|
Date of Appointment : |
24.02.2010 |
|
DIN No.: |
01485745 |
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|
|
|
Name : |
Mr. Kersi Rustom Bhagat |
|
Designation : |
Director |
|
Address : |
Peregrine Flat No.6B, 400 Veer Savarkar Marg, Prabhadevi, Mumbai-
400025, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1958 |
|
Date of Appointment : |
16.04.2010 |
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DIN No.: |
00033802 |
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|
|
|
Name : |
Mr. Amir Shahaf Poshinski |
|
Designation : |
Director |
|
Address : |
Hamatsbi, IM 8/A, TEL AVIV- 6993504 |
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Date of Birth/Age : |
27.09.1960 |
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Date of Appointment : |
30.05.2012 |
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DIN No.: |
05296967 |
KEY EXECUTIVES
|
Name : |
Mr. Vikas Gupta |
|
Designation : |
General Manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 06.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Tata Advanced Systems Limited, India |
|
50995 |
|
Tata Advanced Systems Limited, India Jointly held with Sukaran Singh |
|
01 |
|
Tata Advanced Systems Limited, India Jointly held with S. K. Mehta |
|
01 |
|
Tata Advanced Systems Limited, India Jointly held with Tapas Mehta |
|
01 |
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Tata Advanced Systems Ltd Jointly held with S. R. Venkatesan |
|
01 |
|
Tata Advanced Systems Ltd Jointly held with Kersi Rustom Bhagat |
|
01 |
|
AG Technologies Holdings Limited, Cyprus |
|
49000 |
|
|
|
|
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Total |
|
100000 |
Equity Share Break up (Percentage of Total Equity)
As on: 06.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
49.00 |
|
Bodies corporate |
|
51.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Offers homeland security solutions. |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
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|
|
|
Bankers : |
·
HDFC Bank Limited, Connaugh
Place, Nehru Road, Delhi, India ·
Kotak Mahindra
Bank |
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|
Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
M. A. Parikh and Company Chartered Accountants |
|
Address : |
Yusuf Building, 2nd Floor, 43, Mahatma Gandhi
Road, Fort, Mumbai – 400001, Maharashtra, India |
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PAN No.: |
AAAFM1433H |
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|
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Ultimate Holding Company : |
Tata Sons Limited |
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Holding Company : |
Tata Advanced Systems Limited |
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Fellow Subsidiaries : |
·
Tata AIG General Insurance Company Limited ·
Tata Consulting Engineers Limited ·
IT Holding and Services Limited |
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|
Investing Party of which the company is an associates : |
AG Technologies Holding Limited, Cyprus |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
145.747 |
124.905 |
9.052 |
|
(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) |
146.747 |
125.905 |
10.052 |
|
|
|
|
|
|
(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 |
0.359 |
0.419 |
0.000 |
|
(d) long-term provisions |
5.101 |
3.474 |
1.456 |
|
Total
Non-current Liabilities (3) |
5.460 |
3.893 |
1.456 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
37.911 |
143.125 |
67.123 |
|
(c) Other current liabilities |
315.179 |
304.288 |
89.990 |
|
(d) Short-term provisions |
12.791 |
0.419 |
7.164 |
|
Total
Current Liabilities (4) |
365.881 |
447.832 |
164.277 |
|
|
|
|
|
|
TOTAL |
518.088 |
577.630 |
175.785 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
15.429 |
7.613 |
8.226 |
|
(ii) Intangible Assets |
0.639 |
0.744 |
0.649 |
|
(iii) Capital work-in-progress |
0.000 |
7.742 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.531 |
1.137 |
0.367 |
|
(e) Other Non-current assets |
3.304 |
9.396 |
6.170 |
|
Total
Non-Current Assets |
20.903 |
26.632 |
15.412 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
116.449 |
209.156 |
0.000 |
|
(b) Inventories |
0.028 |
0.000 |
0.000 |
|
(c) Trade receivables |
242.591 |
329.568 |
72.499 |
|
(d) Cash and cash equivalents |
115.076 |
2.537 |
79.496 |
|
(e) Short-term loans and
advances |
22.987 |
9.712 |
8.372 |
|
(f) Other current assets |
0.054 |
0.025 |
0.006 |
|
Total
Current Assets |
497.185 |
550.998 |
160.373 |
|
|
|
|
|
|
TOTAL |
518.088 |
577.630 |
175.785 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
366.011 |
885.421 |
199.776 |
|
|
Other Income |
14.402 |
18.855 |
0.006 |
|
|
TOTAL
|
380.413 |
904.276 |
199.782 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Direct cost related to
operations |
64.294 |
376.237 |
43.358 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(0.028) |
0.000 |
0.000 |
|
|
Employees benefits expense |
83.078 |
78.601 |
43.345 |
|
|
Other expenses |
202.203 |
276.541 |
97.960 |
|
|
TOTAL
|
349.547 |
731.379 |
184.663 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
30.866 |
172.897 |
15.119 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
5.618 |
3.414 |
0.695 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
25.248 |
169.483 |
14.424 |
|
|
|
|
|
|
|
Less |
TAX |
4.408 |
53.630 |
5.233 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
20.840 |
115.853 |
9.191 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
124.905 |
9.052 |
(0.139) |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
145.747 |
124.904 |
9.052 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
344.684 |
683.705 |
118.941 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
0.307 |
0.972 |
NA |
|
|
TOTAL
IMPORTS |
0.307 |
0.972 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
208.42 |
1158.53 |
143.30 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.48 |
12.81 |
4.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.90 |
19.14 |
7.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.87 |
29.34 |
8.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
1.34 |
1.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.23 |
0.98 |
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 |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
9.052 |
124.905 |
145.747 |
|
Net
worth |
10.052 |
125.905 |
146.747 |
|
|
|
|
|
|
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) |
|
Sales |
199.776 |
885.421 |
366.011 |
|
|
|
343.207 |
(58.662) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
199.776 |
885.421 |
366.011 |
|
Profit |
9.191 |
115.853 |
20.840 |
|
|
4.60% |
13.08% |
5.69% |
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 |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
The Registered Office of the company has been shifted from Army and Navy Building, 2nd Floor, 148 M.G Road, Mumbai – 400001, Maharashtra, India to the present address w.e.f. 30.03.2010
BUSINESS OVERVIEW
Subject as a joint venture of Tata Advanced systems Limited and AGT Holdings Limited, has effectively progressed in its core competence of Advanced Technology based Integrated Security Solutions for securing its client's valuable strategic, commercial and private assets. The company is not only making valuable contribution to its joint venture partner's group global projects by providing experienced technical skilled resources, but also contributing to support supply chain management activities by exporting critical raw material to AGT and its group. With its constant endeavour to strive in positive direction of the curve, Avana has been able to book Revenue of Rs. 380.000 Millions (approx.) for the financial year 2012-13 in less than 3rd years of start of its business operations.
FUTURE OUTLOOK
Subject, expect to be a dominant player in providing "Integrated Security Solutions" for the emerging and intensely competitive Homeland Security market in India and abroad. These tailor made solutions are designed to meet very exacting customer requirements and based on the globally deployed, leading edge technology solutions implemented and supported by in house expertise with global exposure in Homeland Security projects. These advanced solutions shall help the customers protect their assets by deployment of a proprietary predictive intelligence technology, which proactively collects, collates and analyses very large, seemingly innocuous data to generate actionable, predictive intelligence for protection of various types of assets against potential threats and resultant losses.
Future business potential lies in providing these solutions for protection of Public / Private Assets, including Tata group companies. These solutions will provide security for various assets such as Safe Cities, Mass Transit, prominent public establishments, large manufacturing / commercial units and assets of Defence, Aviation, Railways and Nuclear establishments. As these will be long gestation period opportunities, continuous focussed effort in these segments with required perseverance and support from the organisation shall help us shape their future.
FIXED ASSETS:
Tangible Assets
· Leasehold Improvement
· Furniture and Fixtures
· Office Equipments
· Computers Equipments
Intangible Assets
·
Computer Software
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.101.05 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
44 |
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.