MIRA
INFORM REPORT
|
Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ACE SOFTWARE SOLUTIONS ( |
|
|
|
|
Registered
Office : |
Unit No.21, SDF Building1 Seepz, Andheri (East), Mumbai – 400096, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.01.1974 |
|
|
|
|
Com. Reg. No.: |
11-017154 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.3.001 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH1974PTC017154 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA19979B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCA6067B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Provider of Software Products and Solutions for Financial
Institutions. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There is a dip in profit of the company in the year 2013. However,
overall financial position of the company decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for 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.
INDIAN ECONOMIC OVERVIEW
NEWS
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from Russian
Investment firm DST Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two. While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs.2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers with hacking US companies. China’s action which
targets consultancies like McKinsey and Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
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 BY
|
Name : |
Ms. Jenet Dsilva |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-42453000 |
|
Date : |
16.07.2014 |
LOCATIONS
|
Registered Office : |
Unit No.21, SDF Building1 Seepz, Andheri (East), Mumbai – 400096, |
|
Tel. No.: |
91-22-28292337/ 42453000/ 28290253 |
|
Fax No.: |
91-22-28290400 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 27.09.2013)
|
Name : |
Mr. Parth Balawantrai Desai |
|
Designation : |
Director |
|
Address : |
70 -B, Nalanda, 62 Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
15.10.1963 |
|
Date of Appointment : |
17.08.2001 |
|
DIN No.: |
01794548 |
|
|
|
|
Name : |
Ms. Monisha Parth Desai |
|
Designation : |
Director |
|
Address : |
70 –B, Nalanda, 62 Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1965 |
|
Date of Appointment : |
31.03.2000 |
|
DIN No.: |
02181314 |
|
|
|
|
Name : |
Mr. Punwani K. Sahibadas |
|
Designation : |
Director |
|
Address : |
Pallonjee Mansion 43, Cuffe Parade, Mumbai – 400005, Maharashtra,
India |
|
Date of Birth/Age : |
13.12.1938 |
|
Date of Appointment : |
24.01.1974 |
|
|
|
|
Name : |
Mr. Arun R. Piplapure |
|
Designation : |
Director |
|
Address : |
5, |
|
Date of Birth/Age : |
18.12.1937 |
|
Date of Appointment : |
28.11.1997 |
KEY EXECUTIVES
|
Name : |
Ms. Jenet Dsilva |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
Parth Balawantrai Desai Monisha Balwantrai Desai |
|
2160 |
|
ACE Solftware Solutions Inc., USA (OCB) |
|
278 |
|
Part Balwantrai Desai |
|
27562 |
|
Pearim Pharmaceuticals Private Limited, India |
|
5 |
|
Saurabh Desai Exports Private Limited, India |
|
5 |
|
|
|
|
|
Total
|
|
30010 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.93 |
|
Bodies corporate |
|
0.03 |
|
Directors or relatives of directors |
|
99.04 |
|
|
|
|
|
Total
|
|
100.00 |
%20PRIVATE%20LIMITED%20%20-%20277128%20_MIRA%2016-Jul-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Provider of Software Products and Solutions for financial
institutions. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Bank of India 8-A, Bhulabhai Desai Road, Near Mahalaxmi Temple, Mumbai – 400026,
Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D. P. Joshi and Company Chartered Accountants |
|
Address : |
Jiji House, 1st Floor, 17, Damodardas Sukhadwala Marg,
Mumbai – 400001, Maharashtra, India |
|
Tel No.: |
91-22-22073533 |
|
PAN No.: |
AADPJ2422Q |
|
Email : |
|
|
|
|
|
Other Related Parties : |
· ACE Software Inc., USA · ACE Software Inc., UK |
CAPITAL STRUCTURE
(AS ON 27.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30010 |
Equity Shares |
Rs.100/- each |
Rs.3.001
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 |
3.001 |
3.001 |
3.001 |
|
(b) Reserves & Surplus |
34.768 |
33.274 |
29.878 |
|
(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) |
37.769 |
36.275 |
32.879 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12.200 |
16.200 |
18.700 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
12.200 |
16.200 |
18.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
35.770 |
20.801 |
13.127 |
|
(b) Trade payables |
0.076 |
0.619 |
3.937 |
|
(c) Other current
liabilities |
2.755 |
1.884 |
0.992 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
38.601 |
23.304 |
18.056 |
|
|
|
|
|
|
TOTAL |
88.570 |
75.779 |
69.635 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
14.898 |
14.031 |
13.964 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
14.898 |
14.031 |
13.964 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
26.157 |
23.070 |
15.400 |
|
(c) Trade receivables |
42.181 |
34.226 |
34.455 |
|
(d) Cash and cash
equivalents |
2.676 |
2.699 |
4.566 |
|
(e) Short-term loans and
advances |
1.197 |
0.896 |
0.167 |
|
(f) Other current assets |
1.461 |
0.857 |
1.083 |
|
Total Current Assets |
73.672 |
61.748 |
55.671 |
|
|
|
|
|
|
TOTAL |
88.570 |
75.779 |
69.635 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
116.680 |
105.504 |
102.228 |
|
|
|
Other Income |
15.359 |
NA |
NA |
|
|
|
TOTAL |
132.039 |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
130.044 |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.995 |
3.948 |
7.202 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.410 |
0.416 |
0.807 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX |
1.585 |
3.532 |
6.395 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.090 |
0.137 |
0.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
1.495 |
3.395 |
6.145 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
49.82 |
113.13 |
204.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.13 |
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.36 |
3.35 |
6.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.79 |
4.66 |
9.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.10 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.27 |
1.02 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91 |
2.65 |
3.08 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
3.001 |
3.001 |
3.001 |
|
Reserves & Surplus |
29.878 |
33.274 |
34.768 |
|
Net worth |
32.879 |
36.275 |
37.769 |
|
|
|
|
|
|
long-term borrowings |
18.700 |
16.200 |
12.200 |
|
Short term borrowings |
13.127 |
20.801 |
35.770 |
|
Total borrowings |
31.827 |
37.001 |
47.970 |
|
Debt/Equity ratio |
0.968 |
1.020 |
1.270 |
%20PRIVATE%20LIMITED%20%20-%20277128%20_MIRA%2016-Jul-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
102.228 |
105.504 |
116.680 |
|
|
|
3.205 |
10.593 |
%20PRIVATE%20LIMITED%20%20-%20277128%20_MIRA%2016-Jul-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
102.228 |
105.504 |
116.680 |
|
Profit |
6.145 |
3.395 |
1.495 |
|
|
6.01% |
3.22% |
1.28% |
%20PRIVATE%20LIMITED%20%20-%20277128%20_MIRA%2016-Jul-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL:
|
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 |
No |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
From directors and their relatives |
12.200 |
16.200 |
|
|
|
|
|
Total |
12.200 |
16.200 |
CURRENT YEAR:
The company has achieved a growth of over
10.6% in sales as compared to the previous financial year. The company has also
met the projections as submitted to SEEPZ. They look forward to a very progressive
year ahead.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
|
S.No. |
Charge ID |
Date of Charge Creation/ Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10230155 |
25/02/2011 * |
32,500,000.00 |
Bank of India |
8-A, Bhulabhai Desai Road, Near Mahalaxmi Temple, Mumbai, Maharashtra
- 400026, India |
B08647638 |
|
2 |
90236545 |
28/10/1974 |
360,000.00 |
DENA BANK |
New Gamadevi ; Shanti Sadan, 3; Vatcha Gandhi Road, Bombay, Maharashtra
- 400007, India |
- |
FIXED ASSETS:
· Computer Equipment
· Air Conditioner
· Electrical Installations
· Office Equipments
· Furniture and Fixtures
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 records 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.60.22 |
|
|
1 |
Rs.102.79 |
|
Euro |
1 |
Rs.81.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.