MIRA INFORM REPORT
|
Report Date : |
10.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
C-EDGE TECHNOLOGIES LIMITED |
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Registered
Office : |
Palm Centre, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.01.2006 |
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Com. Reg. No.: |
11-159038 |
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Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
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CIN No.: [Company Identification
No.] |
U72900MH2006PLC159038 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCC7950Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider of Information Technology. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavorable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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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 s subsidiary of Tata Consultancy Services Limited which
hold 51% of Equity shares and 49% owned by State Bank of It is well established ad reputed company having a good track record. Financially, company performance is appreciable. Subject gets good
support from its holdings. Liquidity and financial position of the company seems to be sound and
healthy. Trade relations are reported to be trust worthy. Business is active.
Payments terns are reported to be regular and as per commitments. The company can be considered good for normal business dealing 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA Ratings |
|
Rating |
Long Term Bank Facilities AA- |
|
Rating Explanation |
Have a high degree of safety and Carry very low credit risk |
|
Date |
May 2014 |
|
Rating Agency Name |
ICRA Ratings |
|
Rating |
Short Term Bank Facilities A1+ |
|
Rating Explanation |
Have a very strong degree of safety and carry lowest credit risk |
|
Date |
May 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 BY
|
Name : |
Mr. Antony |
|
Designation : |
Sales Department |
|
Contact No.: |
91-9820972467 |
|
Date : |
09.12.2014 |
LOCATIONS
|
Registered Office : |
Palm Centre, |
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Tel. No.: |
91- 22-67789379 |
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Fax No.: |
91- 22-66303672 |
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E-Mail : |
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Website : |
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Corporate Office : |
Wellspring, Phase III, Godrej and Boyce Complex, Plant no
12, Gate No. 4, LBS Marg, Vikhroli (West), Mumbai-400079, |
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Tel. No.: |
91- 22-67784106 |
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Fax No.: |
91- 22-67784400 |
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E-Mail : |
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Sales Team:
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Tel. No.: |
91- 22-67784236 |
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E-Mail : |
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Support Team:
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Tel. No.: |
91- 22-67784200 / 04 / 07 / 14 / 17 / 24 / 33 / 39 |
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E-Mail : |
DIRECTORS
As on 20.06.2014
|
Name : |
Mr. Chandrasekaran Natarajan |
|
Designation : |
Nominee Director |
|
Address : |
302, Sagar Darshan, 8, |
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Date of Birth/Age : |
02.06.1963 |
|
Qualification : |
Bachelor Degree in Applied Sciences, and Master Degree in computer
application |
|
Date of Appointment : |
19.01.2006 |
|
DIN No.: |
00121863 |
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|
|
|
Name : |
Mr. Barindra Hemendra Sanyal |
|
Designation : |
Nominee director |
|
Address : |
B-21, Bandra Trilok CHS Limited, 313, Dr. Ambedkar Road, Bandra
(West), Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
19.10.1946 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
10.12.2009 |
|
DIN No.: |
00175046 |
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|
|
Name : |
Mr. Jambunathan Narayanan |
|
Designation : |
Nominee Director |
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Address : |
'H' Bungalow, SBI Colony, Sector - 13, Nerul (East), Navi Mumbai- 400706,
Maharashtra, India |
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Date of Birth/Age : |
16.03.1955 |
|
Date of Appointment : |
09.07.2012 |
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DIN No.: |
05126421 |
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Name : |
Mr. Ramachandran Krishnamurthi |
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Designation : |
Nominee Director |
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Address : |
B/105, Kalpataru Habitat, Dr. S. S. Rao, Parel, Mumbai – 400012,
Maharashtra, India |
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Date of Birth/Age : |
11.12.1954 |
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Date of Appointment : |
06.12.2013 |
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DIN No.: |
06752370 |
KEY EXECUTIVES
|
Name : |
Mr. Antony |
|
Designation : |
Sales Department |
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|
|
|
Name : |
Mr. Prakash Dinesh Mehta |
|
Designation : |
Secretary |
|
Address : |
B-1/305, Bee Jumbo, CHSL Koldongri, Road No.2, Sahar Road, Andheri
(East), Mumbai-400069, Maharashtra, India |
|
Date of Birth/Age : |
23.08.1959 |
|
Date of Appointment : |
07.02.2006 |
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PAN No.: |
AAHPM6789P |
|
|
|
|
Name : |
Mr. Krishna Kumar Anantharaman krishnamoorthy |
|
Designation : |
Manager |
|
Address : |
Serenity Heights, B-406, Mind Space Malad Link Road, Malad (West), Mumbai
– 4500064, Maharashtra, India |
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Date of Birth/Age : |
26.07.1953 |
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Date of Appointment : |
01.01.2013 |
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PAN No.: |
AAGPK7580H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
Tata Consultancy Services Limited, India |
|
5099997 |
|
Tata Consultancy Services Limited JT N. Chandrasekaran |
|
1 |
|
State Bank of India, India |
|
4899998 |
|
Tata Consultancy Services Limited JT Suprakash Mukhopadhyay |
|
1 |
|
Tata Consultancy Services Limited JTPrakash D. Mehta |
|
1 |
|
State Bank of India, JT Jambunathan Narayanan |
|
1 |
|
State Bank of India, JT Ramachandran Krishnamu |
|
1 |
|
Total |
|
10000000 |
As on 20.06.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Nationalized or Other Banks |
49.00 |
|
Bodies corporate |
51.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Service Provider of Information Technology. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information denied by management |
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Bankers : |
·
State Bank of India, Vikhroli West Branch,
Mumbai, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai –
400018, Maharashtra, India. |
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E-Mail : |
AACFD4815A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Ultimate Holding Company: |
CIN
No.: U99999MH1917PLC000478 |
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Holding Company: |
CIN
No.: L22210MH1995PLC084781 |
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Fellow Subsidiaries: |
CIN
No.: U75142TG2002PLC039671 |
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Investing Party: |
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CAPITAL STRUCTURE
As on 20.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
630.446 |
466.648 |
344.346 |
|
(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) |
730.446 |
566.648 |
444.346 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
141.544 |
194.837 |
101.518 |
|
(b) Deferred tax liabilities (Net) |
24.300 |
14.398 |
6.572 |
|
(c) Other long term
liabilities |
3.733 |
1.615 |
0.346 |
|
(d) long-term
provisions |
7.011 |
4.355 |
2.740 |
|
Total Non-current
Liabilities (3) |
176.588 |
215.205 |
111.176 |
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
449.708 |
377.789 |
111.736 |
|
(c) Other
current liabilities |
93.409 |
68.444 |
49.436 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
40.864 |
|
Total Current
Liabilities (4) |
543.117 |
446.233 |
202.036 |
|
|
|
|
|
|
TOTAL |
1450.151 |
1228.086 |
757.558 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
362.750 |
357.727 |
142.275 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
45.498 |
101.685 |
43.012 |
|
(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 |
170.170 |
120.853 |
35.447 |
|
(e) Other
Non-current assets |
0.000 |
20.436 |
0.000 |
|
Total Non-Current
Assets |
578.418 |
600.701 |
220.734 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
10.515 |
9.843 |
39.738 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
426.026 |
284.054 |
280.540 |
|
(d) Cash
and cash equivalents |
180.569 |
210.167 |
184.906 |
|
(e)
Short-term loans and advances |
128.243 |
101.729 |
23.154 |
|
(f) Other
current assets |
126.380 |
21.592 |
8.486 |
|
Total
Current Assets |
871.733 |
627.385 |
536.824 |
|
|
|
|
|
|
TOTAL |
1450.151 |
1228.086 |
757.558 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1855.833 |
1362.823 |
1134.988 |
|
|
|
Other Income |
9.882 |
15.894 |
6.033 |
|
|
|
TOTAL |
1865.715 |
1378.717 |
1141.021 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
224.851 |
180.585 |
132.494 |
|
|
|
Other expenses |
1245.257 |
922.092 |
703.779 |
|
|
|
TOTAL
|
1470.108 |
1102.677 |
836.273 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
395.607 |
276.040 |
304.748 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
28.068 |
24.588 |
5.747 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
367.539 |
251.452 |
299.001 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
119.621 |
70.090 |
20.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
247.918 |
181.362 |
278.775 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
84.121 |
59.060 |
89.219 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
163.797 |
122.302 |
189.556 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
630.500 |
466.700 |
344.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
10.553 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.38 |
12.23 |
18.96 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
8.83 |
8.97 |
16.70 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
21.32 |
20.26 |
26.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.65 |
16.10 |
39.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.32 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.19 |
0.34 |
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61 |
1.41 |
2.66 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
344.346 |
466.648 |
630.446 |
|
Net
worth |
444.346 |
566.648 |
730.446 |
|
|
|
|
|
|
long-term borrowings |
101.518 |
194.837 |
141.544 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
101.518 |
194.837 |
141.544 |
|
Debt/Equity
ratio |
0.228 |
0.344 |
0.194 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1134.988 |
1362.823 |
1855.833 |
|
|
|
20.074 |
36.176 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1134.988 |
1362.823 |
1855.833 |
|
Profit |
189.556 |
122.302 |
163.797 |
|
|
16.70% |
8.97% |
8.83% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES:
[Rs. in millions]
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current Maturities
of Finance Lease Obligations |
68.247 |
49.669 |
22.455 |
|
Total |
68.247 |
49.669 |
22.455 |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
|
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
The registered office of the company has been shifted from Suren Road,
Andheri (East), Mumbai-400093, Maharashtra, India, to the present address
w.e.f. 19.06.2006
OPERATING RESULTS
The Company witnessed
good growth during 2013-14 in its business segments. The Company has
established its position as a leading player in providing Core Banking Solution
(CBS) and other financial services to small and medium sized banks on the cloud
or as Application Service Provider (ASP) model.
The turnover of
the Company was Rs.1865.700 millions in FY 2014 (Rs.1378.700 millions in FY
2013), registering a growth of 37% over last year. The increase is mainly due
to implementation of core banking solution to new banks and organic expansion
of existing customers branches. The company has also developed new lines of
business complimenting CBS such as services in the payments segment like NRTGS,
Rupay etc.
The profit before
tax has grown to Rs. 247.900 millions in FY 2014 (Rs.181.400 Millions in FY
2013), registering a growth of 37% over last year’s profit before tax. The
increase is mainly attributable to operational efficiencies and provision of
new services to existing and new customers. The resultant profit after tax
(PAT) was Rs.163.800 millions in FY 2014 (Rs.122.300 Millions in FY 2013).
BUSINESS
PERFORMANCE
During the year,
the Company has further consolidated its position as the leading core banking
solution (CBS) provider on cloud model/ASP model in the country. Currently, the
Company is servicing over 11,500 branches of 156 banks across 20 states in
India. The Company is the leader and the only full services solution provider
for banks with transaction banking services integrated with complete range of
payment solutions. The range of services includes CBS, Internet, Mobile, ATM,
RUPAY, RTGS, NEFT, DBT, SMS, AML and CPSMS. The Company has also started
providing services to insurance sector. The company has developed? Pension
Processing System? and has gone live with processing of over 3.5 million
pensioners. The Company is also planning to add RBI?s automated data flow (ADF)
services with ?Business
Intelligence? (BI)
/Analytics integrated. The Company is exploring the overseas market and has
held discussions to take the cloud offering models to the Middle East and
Africa markets.
One of the major
achievements of the Company during the year was to make live over 3200 branches
of NABARD sponsored banks spread over 7 states covering 96 banks. During the
year, the Company successfully migrated from multiple hybrid legacy systems to
CBS and completed the EOY processing.
The Company is
exploring new business opportunities in mobility, internet banking and business
intelligence. In order to achieve higher business growth, the Company is in the
process of bringing on board strong resources with specialisation and
experience in the above new areas of business.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
·
Computer Equipment
·
Office Equipment
·
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. 61.87 |
|
|
1 |
Rs. 96.90 |
|
Euro |
1 |
Rs. 76.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KLS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
-- PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
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.