MIRA
INFORM REPORT
|
Report Date : |
26.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOMURA SERVICES INDIA PRIVATE LIMITED (w.e.f.24.10.2008) |
|
|
|
|
Formerly Known
As : |
LEHMAN BROTHERS SERVICES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10th Floor, Nomura, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.08.2004 |
|
|
|
|
Com. Reg. No.: |
11-147813 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 895.300 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH2004PTC147813 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML05310E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL0053L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Software Development and IT Enabled Services. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 35000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having a fine track record. There appears dip in profit and sales turnover of the company during
the financial year 2013. However, general financial position of the company appears to be
decent. Overall all fundamentals of the company appears to be sound and
healthy. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
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
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
.
. Ukrain’s clashes with rebels hinder MH17 crash investigation
.
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in
. 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.
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 DECLINED
MANAGEMENT NON – COOPERATIVE (91-22-30534626)
LOCATIONS
|
Registered Office : |
10th Floor, Nomura, |
|
Tel. No.: |
91-22-30534626 |
|
Fax No.: |
91-22-30532111 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Murali Subrahmanyam |
|
Designation : |
Director |
|
Address : |
Old #22, New #43, 4th Main Road, Raja Annamalai Puram,
Chennai – 600028, Tamilnadu, India |
|
Date of Birth/Age : |
20.04.1966 |
|
Date of Appointment : |
08.06.2010 |
|
DIN No.: |
00199599 |
|
|
|
|
Name : |
Mr. Raghavachari Kasthuri Rangan |
|
Designation : |
Director |
|
Address : |
Flat No.: 2202, Odyssey II, |
|
Date of Birth/Age : |
02.09.1962 |
|
Date of Appointment : |
08.09.2005 |
|
DIN No.: |
00373554 |
|
|
|
|
Name : |
Mr. Leon Lawrence Dsouza |
|
Designation : |
Director |
|
Address : |
Desire, Flat No. 2, 56, TPS IV, Bandra, Mumbai – 400050, |
|
Date of Birth/Age : |
19.01.1973 |
|
Date of Appointment : |
09.01.2009 |
|
DIN No.: |
01726341 |
|
|
|
|
Name : |
Mr. Masaru Konno |
|
Designation : |
Director |
|
Address : |
Zurichstrasse 14, Kusnacht, 8700, |
|
Date of Birth/Age : |
27.02.1959 |
|
Date of Appointment : |
27.06.2013 |
|
DIN No.: |
02491655 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Kumar M Gupta |
|
Designation : |
Secretary |
|
Address : |
EMP 60/504, Evershine, |
|
Date of Birth/Age : |
12.08.1968 |
|
Date of Appointment : |
06.07.2012 |
|
PAN No.: |
AAEPG0284A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Nomura Asia Investment ( |
|
89528547 |
|
Nomura Asia Holding N V, |
|
100 |
|
|
|
|
|
Total |
|
89528647 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Software Development and IT Enabled Services. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
14th Floor, The
Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai -400028, |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9180N |
|
|
|
|
Parent Company: |
·
Nomura Asia Investment ( |
|
|
|
|
Ultimate Holding company: |
·
Nomura Holding Inc. |
|
|
|
|
Fellow Subsidiary company: |
·
Nomura Fin Services ( CIN: U74920MH2006FTC160872 ·
Nomura Structured Finance Services Private
Limited, CIN: U67190MH2008FTC178239 ·
Nomura Financial Advisory and Securities ( CIN: U74140MH2007PTC169116 ·
Nomura Capital ( CIN: U67190MH2009FTC194618 ·
Nomura Fixed Income Securities Private Limited, CIN: U67190MH2009FTC194618 ·
Nomura Capital Markets Plc. ·
Nomura International ( ·
Nomura International Plc. ·
Nomura Securities International Inc. ·
Nomura Securities Company Limited ·
Nomura Singapore Limited ·
Nomura Asset Management Company Limited ·
Nomura Corporate Research and Asset Management
Inc. ·
Nomura Global Financial Products Inc ·
Nomura Derivative Products Inc. ·
Nomura ·
Nomura Holding America Inc ·
Nomura Bank ( ·
Nomura International (Hong Kong) Limited – ·
P.T. Nomura ·
Nomura Asia Holding N.V. ·
Nomura Australia Limited ·
Nomura Investment Singapore Private Limited ·
Nomura International (Hong Kong) Limited - ·
Nomura Financial Products and Services Inc. |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000000 |
Equity Shares |
Rs.10/- each |
Rs. 1100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
89528647 |
Equity Shares |
Rs.10/- each |
Rs. 895.300 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 |
895.300 |
895.300 |
895.300 |
|
(b) Reserves & Surplus |
7906.200 |
6444.800 |
4660.000 |
|
(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) |
8801.500 |
7340.100 |
5555.300 |
|
|
|
|
|
|
(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 |
712.000 |
778.600 |
1106.000 |
|
(d) long-term provisions |
126.100 |
92.000 |
85.500 |
|
Total Non-current Liabilities (3) |
838.100 |
870.600 |
1191.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current
liabilities |
955.100 |
4312.400 |
1710.300 |
|
(d) Short-term provisions |
79.700 |
79.000 |
57.100 |
|
Total Current Liabilities (4) |
1034.800 |
4391.400 |
1767.400 |
|
|
|
|
|
|
TOTAL |
10674.400 |
12602.100 |
8514.200 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
858.600 |
1066.500 |
1315.700 |
|
(ii) Intangible Assets |
0.500 |
21.600 |
80.800 |
|
(iii) Capital
work-in-progress |
0.000 |
23.600 |
1.500 |
|
(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) |
287.100 |
299.100 |
233.000 |
|
(d) Long-term Loan and Advances |
597.800 |
821.800 |
249.400 |
|
(e) Other Non-current assets |
33.600 |
2062.200 |
30.100 |
|
Total Non-Current Assets |
1777.600 |
4294.800 |
1910.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1000.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
268.100 |
1362.200 |
388.600 |
|
(d) Cash and cash
equivalents |
5250.000 |
2599.000 |
4535.500 |
|
(e) Short-term loans
and advances |
1953.800 |
1002.000 |
1075.500 |
|
(f) Other current
assets |
424.900 |
3344.100 |
604.100 |
|
Total Current Assets |
8896.800 |
8307.300 |
6603.700 |
|
|
|
|
|
|
TOTAL |
10674.400 |
12602.100 |
8514.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
8615.800 |
9291.400 |
7037.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
6585.600 |
7059.200 |
5859.700 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2030.200 |
2232.200 |
1177.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
568.800 |
447.400 |
221.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1461.400 |
1784.800 |
955.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.32 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
16.96
|
19.21 |
13.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.55
|
18.18 |
14.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
23.07
|
30.41 |
21.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.60
|
1.89 |
3.74 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
895.300 |
895.300 |
895.300 |
|
Reserves & Surplus |
4660.000 |
6444.800 |
7906.200 |
|
Net
worth |
5555.300 |
7340.100 |
8801.500 |
|
|
|
|
|
|
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) |
|
Total Income |
7037.300 |
9291.400 |
8615.800 |
|
|
|
32.031 |
(7.271) |
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 |
7037.300 |
9291.400 |
8615.800 |
|
Profit |
955.800 |
1784.800 |
1461.400 |
|
|
13.58% |
19.21% |
16.96% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
BUSINESS OVERVIEW
During the year
the Company has earned Total Income of Rs.8615.800 Millions compared to
Rs.9291.400 Millions earned last year and earned net profit after tax of Rs.
1461.400 Millions after providing for depreciation of Rs. 361.600 Millions and
provision for tax (including current, previous, deferred, and
CORPORATE INFORMATION
Subject was
incorporated under the Companies Act, 1956 on August 2, 2004. On October 24,
2008, the Company received approval from Registrar of Companies for change of
name to Nomura Services India Private Limited.
The Company is
primarily engaged in providing Software Development and IT Enabled Services.
The Company carries its operations from unit registered under Software
Technology Park of India (‘STPI’) and has also commenced commercial operations
on February 25, 2008 in Special Economic Zone (‘SEZ’) unit pursuant to an
approval and notification issued for the unit in September 20, 2007.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
|
Income tax demand
in respect of Assessment Year 2007-08 in respect of which the Income Tax Appellate Tribunal (ITAT) has remanded the case back to Dispute
Resolution Panel (DRP). |
93.700 |
|
Income tax
demand in respect of Assessment Year 2008-09 in respect of which the Company
has filed an appeal with the Income Tax Appellate Tribunal (ITAT). |
35.200 |
|
Income tax
demand in respect of Assessment Year 2009-10 in respect of which the Company
has filed an appeal with Dispute Resolution Panel (DRP). |
204.000 |
FIXED ASSETS
Tangible assets
·
Furniture and fixtures
·
Office equipment
·
Computer equipment’s
·
Leasehold improvements
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.60.43 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.79.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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.