MIRA INFORM REPORT
|
Report Date : |
18.04.2014 |
ENTIFICATION DETAILS
|
Name : |
YAHOO INDIA PRIVATE LIMITED [w.e.f. 07.11.2008] |
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|
|
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Formerly Known
As : |
YAHOO WEB SERVICES INDIA PRIVATE LIMITED |
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Registered
Office : |
Unit No. 1261, 6th Floor, Building No. 12, Solitaire,
Corporate Park No. 167, G H Marg, Andheri (East), Mumbai – 400093,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
07.04.2000 |
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Com. Reg. No.: |
11-138698 |
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Capital
Investment / Paid-up Capital : |
Rs.4186.408 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U72900MH2000PTC138698 |
|
|
|
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMY01384F |
|
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|
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PAN No.: [Permanent Account No.] |
AAACY1252B |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Internet and Web Based Services. |
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|
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|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6600000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There seems accumulated losses recorded by the company during 2013.
However, there are no external borrowings recorded by the company. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considerate 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US initial
public offering. Alibaba, which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs.7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The company
board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 CO-OPERATIVE.
Contact No.:
91-22-33089600
91-124-3929600
91-80-30776000
LOCATIONS
|
Registered Office : |
Unit No. 1261, 6th Floor, Building No. 12, Solitaire, Corporate Park
No. 167, G H Marg, Andheri (East), Mumbai-400093, |
|
Tel. No.: |
91-22-33089600/ 33089601 |
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Fax No.: |
91-22-33089700 |
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E-Mail : |
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Website : |
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Branch Office 1: |
14th Floor, Building No. 8, Tower C, |
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Tel. No.: |
91-124-3929600 |
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Fax No.: |
91-124-3929780 |
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|
|
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Branch Office 2: |
7th Floor, Bagmane
Tridib, Block A, |
|
Tel. No.: |
91-80-30776000 |
|
Fax No.: |
91-80-30776001 |
DIRECTORS
(AS ON 27.09.2013)
|
Name : |
Mr. Gurmit Singh |
|
Designation : |
Managing Director |
|
Address : |
802, 8th Floor, Juhu Natraj, JVPD Scheme, Gulmohar, Cross Road,
Juhu, Mumbai – 400049, Maharashtra, India
|
|
Date of Birth/Age : |
16.12.1969 |
|
Date of Appointment : |
26.02.2014 |
|
DIN No.: |
06771278 |
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|
|
|
Name : |
Mr. Stephen Kai Long Man |
|
Designation : |
Director |
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Address : |
Flat C, 5/F, Wealthy Heights, 35, |
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Date of Birth/Age : |
06.04.1971 |
|
Date of Appointment : |
02.05.2011 |
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DIN No.: |
03508662 |
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|
|
|
Name : |
Engee Chen |
|
Designation : |
Director |
|
Address : |
Flat B-6/F, |
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Date of Birth/Age : |
19.07.1962 |
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Date of Appointment : |
02.05.2011 |
|
DIN No.: |
03508664 |
|
|
|
|
Name : |
Mr. Amitabh Lal Das |
|
Designation : |
Director |
|
Address : |
A 184, Westend Heights, DLF City, Phase 5, Behind Gempact,
Gurgaon-122009, Haryana, India |
|
Date of Birth/Age : |
18.09.1969 |
|
Qualification : |
LLB Course in British and EC Commercial Law and Practice |
|
Date of Appointment : |
24.08.2011 |
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PAN No.: |
ACXPD2540B |
|
DIN No.: |
03589752 |
KEY EXECUTIVES
|
Name : |
Mr. Gururaj |
|
Designation : |
Senior Accountant |
|
|
|
|
Name : |
Mr. Hemant Sharma |
|
Designation : |
Company Secretary |
|
Address : |
Palms Apartment, Tower 5, Flat 503, South City, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
09.01.1973 |
|
Date of Appointment : |
03.06.2013 |
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PAN No.: |
ATZPS54 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
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|
Yahoo |
|
418640795 |
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Yahoo CV |
|
1 |
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Yahoo Inc., |
|
1 |
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|
|
|
|
Total |
|
418640797 |
(AS ON 30.09.2013)
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Internet and Web Based Services. |
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||||
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
700 (Approximately) |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
5th Floor, Tower D, The Millenia, 1&2, Murphy Road, Ulsoor, Bangalore - 560008, India |
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PAN No.: |
AAHFP0187A |
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Holding company : |
· Yahoo! Netherlands B.V., Netherlands · Yahoo! Netherlands Holdings C. V., Netherlands |
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Ultimate Holding
Company : |
· Yahoo! Inc., USA |
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Fellow subsidiaries (with whom the Company
transacted business during the current and previous year) |
· Yahoo! Southeast Asia Pte. Limited, Singapore · Yahoo Software Development India Private Limited, India [U72200KA2002PTC031398] ·
Yahoo!
Sarl, Switzerland ·
Y! New Zealand Limited, New Zealand ·
Yahoo!7 Pty Limited, Australia |
CAPITAL STRUCTURE
(AS ON 27.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
448700000 |
Equity Shares |
Rs.10/- each |
Rs.4487.000 Millions |
|
130000 |
Preference Shares |
Rs.100/- each |
Rs.13.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4500.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
418640797 |
Equity Shares |
Rs.10/- each |
Rs.4186.408
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 |
4186.408 |
4186.408 |
4186.408 |
|
(b) Reserves & Surplus |
(2536.368) |
(2588.748) |
(2604.591) |
|
(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) |
1650.040 |
1597.660 |
1581.817 |
|
|
|
|
|
|
(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 |
39.214 |
21.793 |
16.059 |
|
(d) long-term
provisions |
161.998 |
12.335 |
18.950 |
|
Total Non-current
Liabilities (3) |
201.212 |
34.128 |
35.009 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
94.815 |
350.283 |
65.266 |
|
(c) Other
current liabilities |
277.876 |
326.781 |
362.709 |
|
(d) Short-term
provisions |
3.636 |
2.608 |
2.707 |
|
Total Current
Liabilities (4) |
376.327 |
679.672 |
430.682 |
|
|
|
|
|
|
TOTAL |
2227.579 |
2311.460 |
2047.508 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
89.348 |
535.008 |
932.728 |
|
(ii)
Intangible Assets |
0.966 |
0.107 |
0.000 |
|
(iii)
Capital work-in-progress |
8.477 |
0.000 |
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 |
190.637 |
193.676 |
324.153 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
289.428 |
728.791 |
1256.881 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
364.489 |
387.795 |
585.464 |
|
(d) Cash
and cash equivalents |
1275.072 |
989.839 |
152.030 |
|
(e)
Short-term loans and advances |
26.830 |
50.213 |
53.133 |
|
(f) Other
current assets |
271.760 |
154.822 |
0.000 |
|
Total
Current Assets |
1938.151 |
1582.669 |
790.627 |
|
|
|
|
|
|
TOTAL |
2227.579 |
2311.460 |
2047.508 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
GROSS INCOME |
2425.649 |
2379.123 |
2260.239 |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
398.254 |
599.093 |
518.501 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
398.254 |
599.093 |
518.501 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
360.627 |
524.446 |
515.281 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
14.753 |
(58.804) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
52.380 |
15.843 |
3.220 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
52.380 |
15.843 |
3.220 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2588.847) |
(2604.690) |
(2607.910) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2536.368) |
(2588.847) |
(2604.690) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
835.885 |
970.204 |
965.709 |
|
|
TOTAL EARNINGS |
835.885 |
970.204 |
965.709 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.13 |
0.04 |
0.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.36
|
0.69 |
0.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.01 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.15
|
2.33 |
1.84 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
4186.408 |
4186.408 |
4186.408 |
|
Reserves & Surplus |
-2604.591 |
-2588.748 |
-2536.368 |
|
Net worth |
1581.817 |
1597.660 |
1650.040 |
|
|
|
|
|
|
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 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Gross Income |
2260.239 |
2379.123 |
2425.649 |
|
|
|
5.260 |
1.956 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Gross Income |
2260.239 |
2379.123 |
2425.649 |
|
Profit |
3.220 |
15.843 |
52.380 |
|
|
0.14% |
0.67% |
2.16% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL: 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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The registered address of the company has been shifted from 801 Nicholas
Piramal Tower, Peninsula Corporate Park, Lower Parel, Mumbai - 400013,
Maharashtra India to the present w.e.f.01.07.2010
BACKGROUND
The Company was
incorporated on April 07, 2000 under the Indian Companies Act, 1956 (“the Act”)
and is a subsidiary of Yahoo! Netherlands B.V.,
The Company
provides consumer services such as search engine, content and information on a
wide spectrum of topics, email, chat, etc. through the popular websit. It is
also engaged in hosting banner advertisements and promotional services. The
Company works on a principal to principal basis whereby it acts as a reseller
of advertisement inventory ( www.yahoo.co.in
) of Yahoo! Southeast Asia Private Limited (‘Y! SEA’).
Additionally, the company also provides Portal development services to
Y! SEA under the agreements executed with the party.
FINANCIAL RESULTS
During the year, the Company’s gross Income was 2 % higher
at Rs.2,425.65 millions as compared to the previous year gross income of
Rs.2,379.12 million. Profit
before Interest, depreciation, taxation and exceptional items decreased by 34%
mainly on account of increase in reseller cost and provision for legal matters.
OUTLOOK
The Company anticipates better returns in the subsequent financial years with internet awareness growing rapidly in the country and clients allocating more advertising budgets to the internet.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In
Millions) |
|
|
Claims
against the Company pertaining to increase in rent, copyright infringement / defamatory
e-mails and other demands, not acknowledged as debts (to the extent
ascertainable) |
143.946 |
263.910 |
|
Demand
/ showcause notices received from tax authorities against which Company has
filed an appeal: |
|
|
|
-
Withholding Tax and Fringe Benefit Tax |
9.536 |
9.536 |
|
-
Service tax (Net of Provision) |
37.630 |
73.556 |
|
Note: Future
cash flows, if any, in respect of above items are determinable only on conclusion
of judgment/ decision currently pending with various forums/ authorities. |
||
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Computer Software
· Leasehold Improvement
· Computer
· Furniture and Fixture
· Office Equipment
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 records 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] 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.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.