MIRA
INFORM REPORT
|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
IMS LEARNING RESOURCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6th Floor, NCL Bandra Premises, E Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400051, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.09.1999 |
|
|
|
|
Com. Reg. No.: |
11-121823 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 205.590 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U80220MH1999PTC121823 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI03580D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI5903K |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is Act as institution, providing management entrance training |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. There appears huge accumulated losses which has eroded networth of the
company. Business is active. Payment terms are slow. The company can be considered for business dealing on a safe and
secured 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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed to
$ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Rajesh Iyer |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-66680005 |
|
Date : |
21.01.2014 |
LOCATIONS
|
Registered Office / Branch Office : |
6th Floor, NCL Bandra Premises, E Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-666800005/66170000/33017777 |
|
Fax No.: |
91-22-66680006 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
DIRECTORS
As on: 28.09.2013
|
Name : |
Mr. Kamlesh Bhagwan Sajnani |
|
Designation : |
Managing Director |
|
Address : |
Flat No.11, Valhalla Co-Operative Housing Society, Nirvana, Plot
No.151, Corner of 24th and 30th Road, Bandra (West), Mumbai-400050,
Maharashtra, India |
|
Date of Birth/Age : |
02.06.1965 |
|
Date of Appointment : |
20.09.1999 |
|
PAN No.: |
AAPPS6996J |
|
DIN No.: |
00182580 |
|
|
|
|
Name : |
Ms. Leela Nagesh Rane |
|
Designation : |
Director |
|
Address : |
Flat No.14, 2nd Floor, 148-B, Bhaveshwar, Dr. A. B. Road,
Worli Naka, Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
11.06.1940 |
|
Date of Appointment : |
20.09.1999 |
|
PAN No.: |
AADPR8972K |
|
DIN No.: |
00181231 |
|
|
|
|
Name : |
Mr. Ramakrishnan Krishnamurthy |
|
Designation : |
Additional director |
|
Address : |
401-B Prakriti Apts, Mittal Park, Ragunath Nagar, Thane W, Thane – 400601, Maharashtra, India |
|
Date of Birth/Age : |
25.07.1960 |
|
Date of Appointment : |
29.03.2011 |
|
DIN No.: |
03038895 |
KEY EXECUTIVES
|
Name : |
Ms. Rashmi Ravindra Raswalkar |
|
Designation : |
Secretary |
|
Address : |
705, Union Bank Niwas, Mandapeshwar Road, Borivali (West),
Mumbai-400092, Maharashtra, India |
|
Date of Birth/Age : |
21.09.1983 |
|
Date of Appointment : |
25.11.2010 |
|
Pan No.: |
ALBPR4379M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Leela Nagesh Rane |
2551501 |
|
Kamlesh Sajnani |
7502 |
|
Naik Shantaram |
01 |
|
IL and FS Trust Company Limited A/C Milestone Priate Equity Fund,
India |
100 |
|
|
|
|
Total |
2559104 |
|
Names of Preference Shareholders |
No. of Shares |
|
IL and FS Trust Company Limited A/C Milestone Priate Equity Fund,
India |
17999900 |
|
|
|
|
Total |
17999900 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is Act as institution, providing management entrance training |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
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Bankers : |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
G. M. Kapadia and Company Chartered Accountants |
|
Address : |
Tamarind House, 36-B, Tamarind Lane, Fort, Mumbai - 400001,
Maharashtra, India |
|
PAN No.: |
AAAFG4713G |
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|
|
|
Subsidiaries : |
AIM Education Private Limited CIN No.: U80302WB2006PTC109142 |
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|
|
|
Associates : |
Origen Test Research and Implementation Bureau Private Limited CIN No.: U80220MH2005PTC152895 IMS Proschool Private Limited CIN No.: U72900MH2000PTC127463 |
CAPITAL STRUCTURE
As on: 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
|
25000000 |
Cumulative Convertible Preference Shares |
Rs.10/- each |
Rs. 250.000 Million |
|
|
Total |
|
Rs.290.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2559104 |
Equity Shares |
Rs.10/- each |
Rs.25.591
Millions |
|
17999900 |
Cumulative Convertible Preference Shares |
Rs.10/- each |
Rs.179.999
Millions |
|
|
Total |
|
Rs.205.590 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 |
205.590 |
205.590 |
205.590 |
|
(b) Reserves & Surplus |
(291.075) |
(296.923) |
(236.434) |
|
(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) |
(85.485) |
(91.333) |
(30.844) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.351 |
0.961 |
1.968 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
3.111 |
5.855 |
|
(c) Other long
term liabilities |
27.311 |
16.462 |
11.342 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
27.662 |
20.534 |
19.165 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
157.751 |
152.110 |
126.081 |
|
(b)
Trade payables |
39.367 |
62.601 |
48.820 |
|
(c)
Other current liabilities |
109.101 |
120.654 |
104.996 |
|
(d) Short-term
provisions |
2.191 |
2.417 |
3.735 |
|
Total Current
Liabilities (4) |
308.410 |
337.782 |
283.632 |
|
|
|
|
|
|
TOTAL |
250.587 |
266.983 |
271.953 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
102.553 |
111.281 |
121.377 |
|
(ii)
Intangible Assets |
11.888 |
12.216 |
15.256 |
|
(iii)
Capital work-in-progress |
0.250 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
54.983 |
54.982 |
56.170 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
50.907 |
53.315 |
58.766 |
|
(e) Other Non-current
assets |
4.167 |
4.378 |
4.143 |
|
Total Non-Current
Assets |
224.748 |
236.172 |
255.712 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
17.415 |
20.689 |
8.168 |
|
(d) Cash
and cash equivalents |
5.247 |
7.960 |
3.438 |
|
(e)
Short-term loans and advances |
3.177 |
2.161 |
4.635 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
25.839 |
30.811 |
16.241 |
|
|
|
|
|
|
TOTAL |
250.587 |
266.983 |
271.953 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
452.200 |
419.400 |
459.000 |
|
|
|
Other Income |
4.300 |
2.200 |
3.400 |
|
|
|
TOTAL |
456.500 |
421.600 |
462.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
439.000 |
468.800 |
605.300 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
17.500 |
(47.200) |
(142.900) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.800 |
16.200 |
20.200 |
|
|
|
|
|
|
|
|
|
Less |
Provision for
investment/loans in Associate concern |
0.000 |
0.000 |
51.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
2.700 |
(63.400) |
(215.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.100 |
(2.700) |
0.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
5.800 |
(60.700) |
(215.300) |
|
|
|
|
|
|
|
|
|
|
Prior Period
Adjustments |
0.000 |
0.200 |
8.500 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.800 |
(301.600) |
(241.100) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.27 |
(23.71) |
(87.42) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.28 |
(14.40) |
(46.56) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.60 |
(15.11) |
(46.85) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.38 |
(2.99) |
(99.63) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03) |
(0.70) |
(6.98) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(1.85) |
(1.68) |
(4.15) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.08 |
0.09 |
0.06 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
0.609 |
1.008 |
9.633 |
|
|
|
|
|
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Loans and advances from related parties |
95.000 |
95.000 |
|
|
|
|
|
Total |
95.000 |
95.000 |
OPERATIONS
The Company has shown a positive operating performance and has posted a profit of Rs. 5.800 millions during the year. The turnaround in the financial performance was possible due to a change in the operating model where few more centres were partnered (franchised) during the year. As a result, around 80% of the IMS centres are run by Partners now and the remaining 20% are company - owned centres.
This change in model resulted in a substantial reduction in operating expenditures. It has also entailed an increase in business and operational efficiencies, allowing the Company to focus on core competencies and growth of new products. During the year under review, the Company also focused on strengthening teams at company - owned centres, to gain better market share.
The Company is now exploring opportunities to enter newer locations in the coming years. The Company is now looking forward for significant revenue growth in next 2 years by strengthening market presence of existing products and also through geographical expansion. The Company has set for itself, a goal to increase its national footprint by adding newer centres and reaching the milestone of 100 centres by financial year 2014-2015.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10082253 |
30/07/2011 * |
25,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B18749028 |
|
2 |
10081909 |
12/12/2007 |
25,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
A29854817 |
|
3 |
10082252 |
30/07/2011 * |
25,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B18747311 |
|
4 |
10150614 |
30/04/2007 |
10,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
A14212666 |
|
5 |
10018336 |
20/10/2008 * |
40,000,000.00 |
Standard Chartered Bank |
SME Credit, 23-25, M G Road, Fort, Mumbai, Maharashtra - 400001, INDIA |
A50453380 |
|
6 |
90149546 |
23/10/2008 * |
70,100,000.00 |
Standard Chartered Bank |
SME Credit, 23-25, M G Road, Fort, Mumbai, Maharashtra - 400001, INDIA |
A50453224 |
|
7 |
90143015 |
04/09/2000 |
350,000.00 |
BANK OF MAHARASHTRA |
SHIVASI NAGAR, RATNAGARI, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
Computer
·
Air Conditioner
·
Furniture and Fixture
·
Vehicles
·
Trade Marks and
Copyrights
·
Office Equipments
·
Leasehold Improvements
·
Electrical Fittings and Fixtures
·
Premises Improvements
·
Building
·
Goodwill
·
Land
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. 61.99 |
|
|
1 |
Rs. 102.67 |
|
Euro |
1 |
Rs. 83.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.