MIRA
INFORM REPORT
|
Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
VIRTUAL GALAXY INFOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3, Central Excise Colony, Behind Mahatme Eye Bank, Chhatrapati Square,
Ring Road, Nagpur – 440015, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.09.1997 |
|
|
|
|
Com. Reg. No.: |
11-110645 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.55.001 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1997PTC110645 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV5098G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing ERP Software Solution, CBS Solution Application and Web
Services. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. Rating reflects moderate financial risk profile due to moderate
reserves and large working capital requirement. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
B+ [Long Term] |
|
Rating Explanation |
High risk of default |
|
Date |
14.03.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 [Short Term] |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
14.03.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (91-712-6466310)
LOCATIONS
|
Registered Office/ Corporate Office : |
3, Central Excise Colony, Behind Mahatme Eye Bank, Chhatrapati Square,
Ring Road, Nagpur – 440015, Maharashtra, India |
|
Tel. No.: |
91-712-6565221/ 2244778/ 6466309-14 |
|
Fax No.: |
91-712-2244778/ 2244768 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located At: · Pune · Aurangabad · Latur · Nande · Bhopal · Indore · Raipur · Bhuwaneshwar · Sambalpur · Lucknow |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Avinash Narayan Shende |
|
Designation : |
Director |
|
Address : |
3, Central Excise Colony W, Adhra Road, Nagpur – 440 015, Maharashtra,
India |
|
Date of Birth/Age : |
06.10.1971 |
|
Date of Appointment : |
12.09.1997 |
|
PAN No.: |
ABJPS2570H |
|
DIN No.: |
02179381 |
|
|
|
|
Name : |
Mr. Sachin Purushottam Pande |
|
Designation : |
Director |
|
Address : |
Plot No.68, Dattatraya Nagar, Nagpur – 440 024, Maharashtra, India |
|
Date of Birth/Age : |
10.04.1972 |
|
Date of Appointment : |
12.09.1997 |
|
PAN No.: |
AAMPP7720L |
|
DIN No.: |
02181154 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Avinash Narayan Shende |
|
2550000 |
|
Sachin Purushottam Pande |
|
2550000 |
|
Shilpa Avinash Shende |
|
200000 |
|
Sampada Sachin Pande |
|
200000 |
|
Sharad Shangarpawar |
|
10 |
|
Rajiv Patrikar |
|
10 |
|
Shital Aarya |
|
10 |
|
Chandrakant Aarya |
|
10 |
|
Shruti Deshpande |
|
10 |
|
Farah Taraporwalla |
|
10 |
|
Homi Taraporwalla |
|
10 |
|
Kaizad Taraporwalla |
|
10 |
|
|
|
|
|
Total |
|
5500080 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing ERP Software Solution, CBS Solution Application and Web
Services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
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|||||||||||||||||||||
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Bankers : |
·
Bank of Maharashtra, Shankar Nagar Branch, Nagpur
– 440010, Maharashtra, India ·
Punjab National Bank ·
The Hongkong and Shanghai Banking Corporation Limited |
|||||||||||||||||||||
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|||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Risbud Karandikar and Company Chartered Accountants |
|
Address : |
S-2, Uma Smruti, Modi No.1, Sitabjldi, Nagpur – 440 012, Maharashtra,
India |
|
Tel. No.: |
91-712-2528886 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFR6258R |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital : Rs.150.000
Millions
Issued, Subscribed & Paid-up Capital :
Rs.55.001 Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500080 |
Equity Shares |
Rs.10/- each |
Rs.55.001 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 |
55.001 |
16.400 |
16.400 |
|
(b) Reserves & Surplus |
55.469 |
23.575 |
8.028 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
13.563 |
2.912 |
|
Total
Shareholders’ Funds (1) + (2) |
110.470 |
53.538 |
27.340 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
32.148 |
38.023 |
17.092 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
17.399 |
3.966 |
0.131 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
49.547 |
41.989 |
17.223 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
35.666 |
35.519 |
14.529 |
|
(b) Trade payables |
15.378 |
27.669 |
38.401 |
|
(c) Other current liabilities |
16.059 |
7.308 |
0.000 |
|
(d) Short-term provisions |
20.645 |
6.500 |
5.866 |
|
Total
Current Liabilities (4) |
87.748 |
76.996 |
58.796 |
|
|
|
|
|
|
TOTAL |
247.765 |
172.523 |
103.359 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
25.563 |
29.540 |
33.645 |
|
(ii) Intangible Assets |
37.831 |
35.370 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
63.394 |
64.910 |
33.645 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
28.679 |
1.137 |
1.870 |
|
(b) Inventories |
8.768 |
9.159 |
6.828 |
|
(c) Trade receivables |
132.448 |
84.169 |
55.946 |
|
(d) Cash and cash equivalents |
0.196 |
1.037 |
0.869 |
|
(e) Short-term loans and
advances |
3.154 |
8.521 |
1.397 |
|
(f) Other current assets |
11.126 |
3.590 |
2.804 |
|
Total
Current Assets |
184.371 |
107.613 |
69.714 |
|
|
|
|
|
|
TOTAL |
247.765 |
172.523 |
103.359 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
(A) |
371.559 |
187.968 |
70.470 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL
(B) |
326.065
(Including Financial and Depreciation Expenses) |
154.973 |
59.704 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
32.995 |
10.766 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
8.205 |
2.572 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
24.790 |
8.194 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
2.743 |
2.168 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
45.494 |
22.047 |
6.026 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
13.600 |
6.500 |
1.865 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
31.894 |
15.547 |
4.161 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.600 |
8.027 |
3.866 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
45.494 |
23.574 |
8.027 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
5.80 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.58 |
8.27 |
5.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.36 |
12.78 |
5.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.41 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.61 |
1.37 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10 |
1.40 |
1.19 |
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 |
16.400 |
16.400 |
55.001 |
|
Reserves & Surplus |
8.028 |
23.575 |
55.469 |
|
Share Application money
pending allotment |
2.912 |
13.563 |
0.000 |
|
Net
worth |
27.340 |
53.538 |
110.470 |
|
|
|
|
|
|
long-term borrowings |
17.092 |
38.023 |
32.148 |
|
Short term borrowings |
14.529 |
35.519 |
35.666 |
|
Total
borrowings |
31.621 |
73.542 |
67.814 |
|
Debt/Equity
ratio |
1.157 |
1.374 |
0.614 |
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) |
|
Total Income |
70.470 |
187.968 |
371.559 |
|
|
|
166.735 |
97.671 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
70.470 |
187.968 |
371.559 |
|
Profit |
4.161 |
15.547 |
31.894 |
|
|
5.90% |
8.27% |
8.58% |
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
The registered office of the company has been shifted from First Floor,
Jagdish Bhavan, Mahal Square, Nagpur – 440 002, Maharashtra to the
present address w.e.f. 20.03.2009.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10461904 |
07/12/2012 |
50,000,000.00 |
BANK OF MAHARASHTRA |
SHANKAR NAGAR BRANCH, NAGPUR, MAHARASHTRA - 440010, INDIA |
B71161806 |
|
2 |
10353848 |
04/04/2012 |
20,000,000.00 |
BANK OF MAHARASHTRA |
SHANKAR NAGAR BRANCH, NAGPUR, MAHARASHTRA - 440010, INDIA |
B38993333 |
|
3 |
10274393 |
12/06/2014 * |
65,925,000.00 |
BANK OF MAHARASHTRA |
SHANKAR NAGAR BRANCH, NAGPUR, MAHARASHTRA - 440010, INDIA |
C12045001 |
|
4 |
10199211 |
20/01/2010 |
2,500,000.00 |
BANK OF MAHARASHTRA |
AYODHYANAGAR BRANCH, NAGPUR, MAHARASHTRA - 440024, INDIA |
A77915536 |
|
5 |
10116114 |
16/07/2008 |
18,500,000.00 |
BANK OF MAHARASTRA |
AYODYANAGAR BRANCH, NAGPUR, MAHARASHTRA - 440024, INDIA |
A42995449 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer 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.61.41 |
|
|
1 |
Rs.103.42 |
|
Euro |
1 |
Rs.82.17 |
INFORMATION DETAILS
|
Information Gathered
by : |
NAY |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
34 |
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.