MIRA
INFORM REPORT
|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRINCIPAL PNB ASSET MANAGEMENT COMPANY PRIVATE LIMITED (w.e.f.
24.01.2005) |
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Formerly Known
As : |
PRINCIPAL ASSETS MANAGEMENT COMPANY LIMITED (w.e.f.20.10.2003) IDBI-PRINCIPAL ASSETS MANAGEMENT COMPANY LIMITED (w.e.f.31.03.2000) INDIAN INVESTMENT MANAGEMENT COMPANY LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
20.11.1991 |
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Com. Reg. No.: |
11-064092 |
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Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
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CIN No.: [Company Identification
No.] |
U25000MH1991PTC064092 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUM105257A |
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PAN No.: [Permanent Account No.] |
AAACI9361B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company provides asset management services to Principal Mutual Fund. It also provides portfolio management and advisory services. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Principal Financial Group (Mauritius)
Limited, Mauritius. It is an established company having good track record. The company has incurred losses from its operational activities. However, the company receives strong operational and financial support
from its parent company further the capital base of the company is good. No
borrowing recorded by the company. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment. In view of strong holding support, the company can be considered normal 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
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 |
ICRA |
|
Rating |
Principal Cash Management Fund = (A1+mfs) |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
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Date |
August 2014 |
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Rating Agency Name |
ICRA |
|
Rating |
Principal Debt Opportunities Fund –
Conservative Plan = (AAA mfs) |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk |
|
Date |
August 2014 |
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 (Tel No.: 91-22-67720555)
LOCATIONS
|
Registered Office : |
Exchange Plaza, B Wing, Ground Floor, NSE Building, Bandra-Kurla
Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
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Tel. No.: |
91-22-67720555 |
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Fax No.: |
91-22-67720512 / 22044990 |
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E-Mail : |
shah.pratik@principalindia.com ghia.devang@principalindia.com |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 25.09.2013
|
Name : |
Mr. Rajan Ramkrishna Ghotgalkar |
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Designation : |
Managing Director |
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Address : |
10 A II, Great, Eastern Royale 1/322, |
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Date of Birth/Age : |
04.05.1958 |
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Qualification : |
B.Com (Honours), Chartered Accountant |
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Date of Appointment : |
19.09.2006 |
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DIN No.: |
00777125 |
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Name : |
Mr. Madhukar Mayyala Kamath |
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Designation : |
Director |
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Address : |
602, Sunflower Royal Complex, Eksar Road, Borivali West, Mumbai –
400092, Maharashtra, India |
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Date of Birth/Age : |
27.11.1959 |
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Date of Appointment : |
25.09.2013 |
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DIN No.: |
00082378 |
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Name : |
Mr. Rustam Jehangir Gagrat |
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Designation : |
Director |
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Address : |
9, Om Ratan Pochkhanawala Road, New Worli, Mumbai – 400025,
Maharashtra, India |
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Date of Birth/Age : |
05.11.1959 |
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Qualification : |
M.A., Advocate, Solicitor, Notary |
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Date of Appointment : |
29.05.2001 |
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DIN No.: |
00096581 |
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Name : |
Mr. Mukund Manohar Chitale |
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Designation : |
Director |
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Address : |
4/46, Vishnu Prasad Society Shahaji Raje Marg, Vile Parle (East), Mumbai-400057,
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Date of Birth/Age : |
16.11.1949 |
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Qualification : |
B.Com, Chartered Accountant |
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Date of Appointment : |
29.03.2007 |
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DIN No.: |
00101004 |
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Name : |
Mr. Rex Kuen Pak Auyeung |
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Designation : |
Director |
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Address : |
Flat B 13/F, |
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Date of Birth/Age : |
16.04.1952 |
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Date of Appointment : |
17.01.2008 |
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DIN No.: |
00504658 |
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Name : |
Mr. Rajat Kumar Jain |
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Designation : |
Director |
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Address : |
Flat No. 1004, Whispering Palms, 3 A, Lokhandwala Township, Kandivali
East, Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
21.10.1962 |
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Date of Appointment : |
18.01.2012 |
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DIN No.: |
00504760 |
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Name : |
Mr. Pratap Kumar Acharya |
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Designation : |
Director |
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Address : |
401 Punjab National Bank Quarter, Silverline Apartments, Military
Road, Gadesh Pada, Andheri East, Mumbai – 400093, Maharashtra, India |
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Date of Birth/Age : |
22.08.1954 |
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Date of Appointment : |
25.09.2013 |
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DIN No.: |
06503668 |
KEY EXECUTIVES
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Name : |
Mr. Pratik Ashok Shah |
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Designation : |
Secretary |
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Address : |
1-A, Goolestan, 37 Cuffe Parade, Mumbai – 400005, Maharashtra, India |
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Date of Birth/Age : |
09.05.1979 |
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Date of Appointment : |
07.09.2012 |
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PAN No.: |
AWPPS3523H |
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Name : |
Mr. Devang Ghia |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 25.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Principal Financial Group ( |
|
8180004 |
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Punjab National Bank |
|
3720000 |
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Vijaya Bank |
|
500000 |
|
Sudhinchandra Arvind Padhye |
|
6 |
|
Total |
|
12400010 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2013
|
Category |
Percentage |
|
Nationalized or
other bank |
34.03 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
65.96 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company provides asset management services to Principal Mutual Fund. It also provides portfolio management and advisory services. |
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Brand Names : |
“THE PRINCIPAL” |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
·
IDBI Bank, Mumbai, Maharashtra, India · Punjab National Bank |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.V. Ghatalia and Associates Chartered
Accountant |
|
Address : |
6th Floor, Express Towers, Nariman Point, Mumbai – 400021,
Maharashtra, India |
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PAN No.: |
AACFS6921Q |
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Related Parties : |
·
Oceanic Techno Chem Private Limited ·
Aquatic Formulations ( India) Limited |
CAPITAL STRUCTURE
As on 25.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
1000000 |
Preference Shares |
Rs.100/- each |
Rs.100.000 Millions |
|
|
Total |
|
Rs.250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12400010 |
Equity Shares |
Rs.10/- each |
Rs.124.000
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 |
108.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
33.757 |
53.901 |
134.412 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending allotment |
130.741 |
65.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
272.498 |
218.901 |
234.412 |
|
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(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.908 |
2.103 |
0.640 |
|
Total Non-current Liabilities (3) |
2.908 |
2.103 |
0.640 |
|
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|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
77.849 |
64.320 |
26.465 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
47.584 |
|
(d) Short-term provisions |
3.576 |
0.270 |
0.422 |
|
Total Current Liabilities (4) |
81.425 |
64.590 |
74.471 |
|
|
|
|
|
|
TOTAL |
356.831 |
285.594 |
309.523 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6.744 |
6.916 |
12.121 |
|
(ii) Intangible Assets |
11.380 |
21.427 |
31.168 |
|
(iii) Capital
work-in-progress |
1.622 |
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 |
33.381 |
25.277 |
39.622 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
53.127 |
53.620 |
82.911 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
62.077 |
38.886 |
92.901 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
44.015 |
27.352 |
22.549 |
|
(d) Cash and cash
equivalents |
131.672 |
76.412 |
1.111 |
|
(e) Short-term loans and
advances |
65.940 |
89.324 |
110.051 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
303.704 |
231.974 |
226.612 |
|
|
|
|
|
|
TOTAL |
356.831 |
285.594 |
309.523 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
322.097 (Gross Income) |
335.529 (Gross Income) |
187.449 |
|
|
|
Other Income |
NA |
NA |
350.441 |
|
|
|
TOTAL |
NA |
NA |
537.890 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
933.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
NA |
(395.471) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(112.143) |
(80.511) |
(395.471) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(477.412) |
(396.901) |
(1869.869) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(589.556) |
(477.412) |
(2265.340) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
NA |
1.162 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(9.04) |
NA |
(0.69) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
(73.52) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.73 |
3.59 |
3.04 |
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 |
100.000 |
100.000 |
108.000 |
|
Reserves & Surplus |
134.412 |
53.901 |
33.757 |
|
Share Application money
pending allotment |
0.000 |
65.000 |
130.741 |
|
Net
worth |
234.412 |
218.901 |
272.498 |
|
|
|
|
|
|
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 |
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 |
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 |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
CORPORATE INFORMATION
Subject is a private limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company provides asset management services to Principal Mutual Fund. It also provides portfolio management and advisory services.
OPERATIONAL
PERFORMANCE:
Principal Mutual Fund as at March 31, 2013 offers twenty four Schemes.
These include nine Equity Schemes (including two Equity Linked Savings Schemes,
of which one has been closed for subscription since September 02, 2011), one
Balanced Scheme, one Fund of Fund Scheme (Overseas) and eleven Debt Schemes /
Plans (including one Hybrid Schemes and three Fixed Maturity Plans) and two
Liquid Schemes. The total Assets under Management (AuM) from all these schemes
as on March 31, 2013 was Rs.36610.000 Millions.
The AMC operates out of 16 branches, including Mumbai. Many operational
processes have been re-engineered to ensure optimum utilization of available
resources. We have adopted various communication means like emails, SMSs to
ensure timely and accurate information dissemination to our investors and
distributors.
FUTURE OUTLOOK:
After two consecutive years of losing assets, industry witnessed a
recovery, as the AuM grew by 19.5% compared to FY 2011-12. We believe that most
of the regulatory changes are beneficial for both the Industry and its
Investors and the Industry should stabilize and grow at a steady pace in FY
2013-14.
The Company will continue to focus on further improvising the
distribution and operational processes in the current financial year. The
Company will work towards achieving higher investor and distributor satisfaction
through enhanced investment performance and communication. Subject to approval
of SEBI and Principal Trustee Company Private Limited (Trustee), the Company
would seek to introduce such other schemes in its product offerings, as may be
required to suit the requirement of investors at every stage of their life.
Enhanced Investment performance, deeper distributor penetration and a
comprehensive risk management framework will be the Company’s key tools to
achieve steady growth in FY 2013-14.
NO CHARGES EXIST
FOR THE COMPANY
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.60.44 |
|
|
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.60.44 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.