MIRA INFORM REPORT
|
Report Date : |
13.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
L&T TECHNOLOGY SERVICES LIMITED (w.e.f. 25.07.2012) |
|
|
|
|
Formerly Known
As : |
L&T TECHNOLOGY AND ENGINEERING SERVICES COMPANY LIMITED |
|
|
|
|
Registered Office
: |
L&T House, N.M. Marg, Ballard Estate, Mumbai
– 400001,
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
14.06.2012 |
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Com. Reg. No.: |
11-232169 |
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Capital Investment
/ Paid-up Capital : |
Rs. 5025.000 Millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U72900MH2012PLC232169 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML08914D |
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|
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PAN No.: [Permanent Account No.] |
AACCL4310P |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged providing mechanical
engineering and embedded system services. |
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|
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|
No. of Employees
: |
Information declined by the
management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 14000000 |
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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 wholly owned subsidiary of Larsen and Toubro, an Indian multinational
engineering, technology, manufacturing and construction conglomerate. The company possesses a strong financial profile and healthy growth
its presence in niche service lines and industry. Management has reported decent revenue base from its first year of
commercial operations during FY 14. In view of strong financial, managerial and technological support
extended from its parent, the company can be considered for business dealings
at usual trade terms and conditions. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
13.10.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
13.10.2014 |
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 DECLINED
MANAGEMENT NON – COOPERATIVE (91-22-67525656)
LOCATIONS
|
Registered Office : |
L&T House, N.M. Marg, Ballard Estate, Mumbai
– 400001, |
|
Tel. No.: |
91-22-67525656 |
|
Fax No.: |
91-22-67525858 |
|
E-Mail : |
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|
Website : |
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|
|
Corporate Office : |
|
|
Tel. No.: |
91-265-6705344 |
|
Fax No.: |
91-265-6705353 |
DIRECTORS
As on 18.08.2014
|
Name : |
Mr. Vijay Kumar Magapu |
|
Designation : |
Director |
|
Address : |
Flat No. 402/403, Verona, Hiranandani Gardens, Powai, Mumbai – 400076,
Maharashtra, India |
|
Date of Birth/Age : |
12.06.1945 |
|
Date of Appointment : |
14.06.2012 |
|
Qualification : |
B Tech (Mech), M.SC (Canada) |
|
DIN No. : |
00001658 |
|
|
|
|
Name : |
Mr. Keshab Panda |
|
Designation : |
Director |
|
Address : |
15 Hartlander Street, East Brunswick, New Jersey - 08816 |
|
Date of Birth/Age : |
01.10.1958 |
|
Date of Appointment : |
14.06.2012 |
|
Qualification : |
B. Tech, ME (IIS), PhD (IIT) |
|
DIN No. : |
05296942 |
|
|
|
|
Name : |
Mr. Narasimham Rama Lakshmi Kotikalapudi |
|
Designation : |
Director |
|
Address : |
2661, Venetian Ln, Elgin Il, United States of America - 60124 |
|
Date of Birth/Age : |
25.02.1947 |
|
Date of Appointment : |
14.06.2012 |
|
Qualification : |
BE (IIT), Post Graduate Diploma in Business Management. |
|
DIN No. : |
03499884 |
|
|
|
|
Name : |
Mr. Anilkumar Manibhai Naik |
|
Designation : |
Director |
|
Address : |
High Tress, 54Pali Hill, Bandra West, Mumbai – 400050, Maharashtra,
India |
|
Date of Birth/Age : |
09.06.1942 |
|
Date of Appointment : |
27.06.2014 |
|
DIN No. : |
00001514 |
|
|
|
|
Name : |
Mr. Hasit Bharatkumar Joshipura |
|
Designation : |
Director |
|
Address : |
501, Harjhar Niwas, 15th Road, Khar (West), Mumbai –
400052, Maharashtra, India |
|
Date of Birth/Age : |
06.05.1957 |
|
Date of Appointment : |
30.04.2014 |
|
DIN No. : |
00274288 |
|
|
|
|
Name : |
Mr. Samir Thakdrabhn Desai |
|
Designation : |
Director |
|
Address : |
7050 NW, 126 Terace Parkland, Florida, 33076, Florida 33076, United
State of America |
|
Date of Birth/Age : |
26.08.1946 |
|
Date of Appointment : |
30.04.2014 |
|
DIN No. : |
01182256 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.08.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Larsen and Toubro Limited, India |
|
102499994 |
|
Vijay Kumar Magapu Jointly with Larsen and Toubro Limited |
|
1 |
|
Narayanaswamy Hariharan Jointly with Larsen and Toubro Limited |
|
1 |
|
K.P. Janardhanan Jointly with Larsen
and Toubro Limited |
|
1 |
|
P. Ramakrishnan Jointly with Larsen
and Toubro Limited |
|
1 |
|
Prasad Vishnu Shanbhag Jointly with Larsen and Toubro Limited |
|
1 |
|
Mr. Subhodh Shetty Jointly with Larsen and Toubro Limited |
|
|
|
Total |
|
102500000 |
Equity Share Break up (Percentage of Total Equity)
As on 18.08.2014
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged providing mechanical
engineering and embedded system services. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the
management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Ravindra Annexe, 194 Churchgate Reclamation, Dinshaw Vachha Road, Mumbai – 400020, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFS2967E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company: |
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Fellow
Subsidiaries: |
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CAPITAL STRUCTURE
As on 18.08.2014
Authorised Capital : Rs. 10500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 10500.000
Millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
Rs.10/- each |
Rs. 3000.0000 Millions |
|
750000000 |
Equity Shares |
Rs.10/- each |
Rs. 7500.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 10500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
102500000 |
Equity Shares |
Rs.10/- each |
Rs. 1025.000 Millions |
|
400000000 |
Equity Shares |
Rs.10/- each |
Rs. 4000.0.00 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 5025.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5025.000 |
0.500 |
|
(b) Reserves & Surplus |
|
(178.164) |
(0.029) |
|
(c) Money received against
share warrants |
|
2.200 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
4849.036 |
0.471 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
0.565 |
0.000 |
|
(c) Other long term
liabilities |
|
11.029 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
11.594 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
486.874 |
0.000 |
|
(b) Trade payables |
|
502.884 |
0.029 |
|
(c) Other current liabilities |
|
186.605 |
0.000 |
|
(d) Short-term provisions |
|
331.916 |
0.000 |
|
Total
Current Liabilities (4) |
|
1508.279 |
0.029 |
|
|
|
|
|
|
TOTAL |
|
6368.909 |
0.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
85.296 |
0.000 |
|
(ii) Intangible Assets |
|
3961.582 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
155.288 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
4202.166 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
1499.895 |
0.000 |
|
(d) Cash and cash equivalents |
|
294.972 |
0.500 |
|
(e) Short-term loans and
advances |
|
132.243 |
0.000 |
|
(f) Other current assets |
|
239.633 |
0.000 |
|
Total
Current Assets |
|
2166.743 |
0.500 |
|
|
|
|
|
|
TOTAL |
|
6368.909 |
0.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
1261.704 |
0.000 |
|
|
Other Income |
|
(39.699) |
0.000 |
|
|
TOTAL
(A) |
|
1222.005 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
|
799.276 |
0.000 |
|
|
Other expenses |
|
266.722 |
0.029 |
|
|
TOTAL
(B) |
|
1065.998 |
0.029 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
156.007 |
(0.029) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
29.248 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
126.759 |
(0.029) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
11.239 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
|
115.520 |
(0.029) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
|
53.381 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
|
62.139 |
(0.029) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(0.029) |
0.000 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Proposed dividend on preference shares (including Dividend distribution tax) |
|
57.700 |
0.000 |
|
|
Balance
Carried to the B/S |
|
4.400 |
(0.029) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
0.21 |
(0.74) |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
4.93 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
12.36 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.81 |
(5.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.02 |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.10 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.44 |
17.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.500 |
5025.000 |
|
Reserves & Surplus |
(0.029) |
(178.164) |
|
Money received against share
warrants |
0.000 |
2.200 |
|
Net
worth |
0.471 |
4849.036 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
486.874 |
|
Total
borrowings |
0.000 |
486.874 |
|
Debt/Equity
ratio |
0.000 |
0.100 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
0.000 |
1261.704 |
|
|
|
|
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
0.000 |
1261.704 |
|
Profit |
(0.029) |
62.139 |
|
|
|
4.93% |
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
PERFORMANCE OF THE
COMPANY
During the period, the Company commenced commercial operations and generated revenue of Rs.1222.000 Millions for the period January-March 2014. The geographical revenue contribution for HiTech and Telecom VDU is primarily from North America (63%) followed by APAC (19%), Domestic (14%), Europe and ROW (4%).
The Profit after tax (PAT) for the three months period stands at Rs.62.100 Millions.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
150.000 |
0.000 |
|
|
|
|
|
Total |
150.000 |
0.000 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10511135 |
10/07/2014 |
250,000,000.00 |
ICICI BANK |
TRANS TRADE CENTRE, NEAR FLORAL DECK PLAZA, SEEPZ, ANDHERI (E), MUMBAI, MAHARASHTRA - 400009, INDI A |
C13654561 |
|
2 |
10491139 |
25/04/2014 |
500,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C04012886 |
|
3 |
10488995 |
24/03/2014 |
500,000,000.00 |
CITI BANK N.A. |
CITI BANK N. A.,
293, D. N. ROAD, FORT, MUMBAI, M |
C03068335 |
FIXED ASSETS
Tangible assets
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- Goodwill
- 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 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.62.44 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--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 |
|
67 |
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.