MIRA
INFORM REPORT
|
Report Date : |
17.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
FIRST AMERICAN ( |
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Registered
Office : |
1st Floor, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
12.01.2009 |
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Com. Reg. No.: |
08-048852 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs.302.500 Millions |
|
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CIN No.: [Company Identification
No.] |
U72200KA2009PTC048852 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing all type of Information Technologies Enabled Services. |
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 4494000 |
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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 subsidiary of First American Holding Mauritius Limited It is an established company having good track record. Financial position of the company is sound. Fundamentals are strong.
No borrowings recorded by the company. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
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 wih hacking US companies. China’s action which
targets consultancies like McKinsey & 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 DENIED BY
MANAGEMENT NON CO-OPERATIVE 991-80-67013333)
LOCATIONS
|
Registered Office : |
1st Floor, Navigator Building, International Tech Park,
Whitefield Road, Bangalore – 560066, Karnataka, India |
|
Tel. No. : |
91-80-67013333 |
|
Fax No. : |
91-80-67013434 |
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E-Mail : |
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Website : |
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Factory 1 : |
Floor 1 & 2, Orion Block The V, Ascendas IT ParkMadhapur,
Hyderabad – 500081, Telangana, India |
|
Tel. No. : |
91-40-6701 4444 |
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Factory 2 : |
10/2, JV Ganesh Complex, First Floor, Three Road Junction,
Meyyanur, Salem - 636009, Tamilnadu, India |
DIRECTORS
As on 30.09.2013
|
Name : |
David Allen Hancock |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
5200 Vista Del amigo, Yorba Linda CA, 92886, United State of America |
||||||||||||||||||
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Date of Birth/Age : |
01.06.1962 |
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Date of Appointment : |
09.07.2010 |
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DIN No. : |
02463569 |
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Other Directorship :
|
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||||||||||||||||||
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Name : |
Giridhar Rajagopal |
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Designation : |
Director |
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Address : |
B-1 GRD Flr, Sushee apartments, 5th PH Jpngr BG 25/4/4 17th
Cross, 15th Main Roase, Bangalore – 560078, Karnataka, India |
||||||||||||||||||
|
Date of Birth/Age : |
18.03.1971 |
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Date of Appointment : |
09.07.2010 |
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DIN No. : |
02962962 |
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Other Directorship :
|
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|
Name : |
Michael Doting |
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|
Designation : |
Director |
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|
Address : |
10191 Cowan Heihts Drive Santa Ana California – 92705, United State of
America |
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|
Date of Birth/Age : |
05.01.1965 |
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Date of Appointment : |
07.09.2012 |
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DIN No. : |
05192019 |
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Other Directorship :
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||||||||||||||||||
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Name : |
Raghavacharyulu Veera Poolapalli |
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|
Designation : |
Director |
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|
Address : |
5845 E, Indigo Court, Orange, United State of America |
||||||||||||||||||
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Date of Birth/Age : |
06.09.1966 |
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Date of Appointment : |
30.09.2013 |
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DIN No. : |
06567651 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Balakrishnan Vijayan |
|
Designation : |
Secretary |
|
Address : |
No 182, Ground Floor 9th Cross, HMT Layout, R T Nagar,
Bangalore – 560032, Karnataka, India |
|
Date of Birth/Age : |
12.07.1973 |
|
Date of Appointment : |
07.07.2010 |
|
PAN No.: |
AMZPB3841K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
First American Holding (Mauritius) Limited, Port Louis |
27568642 |
|
First American The Insurance Company, USA |
1 |
|
|
|
|
Total |
27568643 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings (Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20276847%2017-Jul-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Providing all type of Information Technologies Enabled Services. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
5th Floor, Tower "D", The Millenia,1 and 2 Murphy Road, Ulsoor, Bangalore - 560008, Karnataka, India |
|
PAN
No. : |
AAHFP0187A |
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Holding Company : |
First American Holding (Mauritius) Limited, Port Louis |
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Fellow Subsidiary : |
First American The Insurance Company, USA |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27568643 |
Equity Shares |
Rs.10/- each |
Rs.275.686 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30250000 |
Equity Shares |
Rs.10/- each |
Rs.302.500 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 |
302.500 |
302.500 |
302.500 |
|
(b) Reserves & Surplus |
821.035 |
587.711 |
370.899 |
|
(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) |
1123.535 |
890.211 |
673.399 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
36.645 |
20.784 |
15.146 |
|
Total Non-current Liabilities (3) |
36.645 |
20.784 |
15.146 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
45.403 |
33.426 |
31.136 |
|
(c) Other current
liabilities |
56.321 |
50.297 |
10.761 |
|
(d) Short-term provisions |
22.555 |
10.004 |
0.953 |
|
Total Current Liabilities (4) |
124.279 |
93.727 |
42.850 |
|
|
|
|
|
|
TOTAL |
1284.459 |
1004.722 |
731.395 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
171.820 |
184.301 |
97.069 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
1.129 |
0.272 |
|
(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) |
62.280 |
29.512 |
29.883 |
|
(d) Long-term Loan and Advances |
141.122 |
104.690 |
126.047 |
|
(e) Other Non-current assets |
4.262 |
3.922 |
3.573 |
|
Total Non-Current Assets |
379.484 |
323.554 |
256.844 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
429.745 |
344.468 |
285.410 |
|
(d) Cash and cash
equivalents |
435.984 |
278.483 |
122.641 |
|
(e) Short-term loans and
advances |
38.407 |
57.130 |
52.261 |
|
(f) Other current assets |
0.839 |
1.087 |
14.239 |
|
Total Current Assets |
904.975 |
681.168 |
474.551 |
|
|
|
|
|
|
TOTAL |
1284.459 |
1004.722 |
731.395 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2512.850 |
2206.394 |
1772.205 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Expenditure on Employees |
1457.065 |
1282.379 |
1055.226 |
|
|
|
Administration and Other Expenses |
606.366 |
526.092 |
467.052 |
|
|
|
TOTAL |
2063.431 |
1808.471 |
1522.278 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
449.419 |
397.923 |
249.927 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
449.419 |
397.923 |
249.927 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
104.466 |
72.764 |
40.417 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
344.953 |
325.160 |
209.510 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
111.628 |
108.348 |
(8.584) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
233.325 |
216.812 |
218.094 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
2468.930 |
2130.413 |
1769.502 |
|
|
TOTAL EARNINGS |
2468.930 |
2130.413 |
1769.502 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
38.945 |
57.889 |
57.304 |
|
|
|
Travel |
6.458 |
3.685 |
3.606 |
|
|
|
Communication |
43.578 |
34.628 |
32.184 |
|
|
|
Others |
4.057 |
5.755 |
1.423 |
|
|
TOTAL IMPORTS |
93.038 |
101.957 |
94.517 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.71 |
7.17 |
7.21 |
|
%20PRIVATE%20LIMITED%20-%20276847%2017-Jul-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20276847%2017-Jul-2014_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20276847%2017-Jul-2014_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.29 |
9.83 |
12.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.22 |
33.38 |
29.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.37 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.28 |
7.27 |
11.07 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
302.500 |
302.500 |
302.500 |
|
Reserves & Surplus |
370.899 |
587.711 |
821.035 |
|
Net
worth |
673.399 |
890.211 |
1123.535 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20276847%2017-Jul-2014_files/image007.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1772.205 |
2206.394 |
2512.850 |
|
|
|
24.500 |
13.889 |
%20PRIVATE%20LIMITED%20-%20276847%2017-Jul-2014_files/image009.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1772.205 |
2206.394 |
2512.850 |
|
Profit |
218.094 |
216.812 |
233.325 |
|
|
12.31% |
9.83% |
9.29% |
%20PRIVATE%20LIMITED%20-%20276847%2017-Jul-2014_files/image012.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
The registered address of the company has been shifted from Lower Ground
Floor, Inventor Building, International Tech Park Bangalore, Whitefield Road,
Bangalore – 560066, Karnataka, India to the present address w.e.f 10.05.2010
INDEX OF CHARGES
No Charges Exist for Company
BUSINESS
· During the year the Company earned revenue of Rs. 2512.849 millions. The profit before tax was Rs. 344.953 millions. The company launched and completed several important initiatives in the current year notably
· As part of the Bangalore Space Optimization programme (BSOP) the company vacated two floors in Bangalore in the Innovator building and took additional space on the 4thfloor, Navigator building.
· New businesses which started operations in Bangalore are FAMS DS Software and FMS Australia
· Salem is business as usual. The second floor became operational in this financial year. The third floor is yet to be occupied. Work is in progress for setting up the cafeteria space.
· Hyderabad office decided to move into the Central Business District (CBD). The move was completed in June 2013.
· The company got ISO 27001 certified. The surveillance audit for the first year has also been completed and FAI was recertified in August 2013.
· The Company continued its corporate social responsibilities by carrying out the objectives of its trust - Light a Life
· A First American (India) Foundation. Various activities were conducted during the year across all three locations Bangalore, Hyderabad and Salem to further its objectives.
FIXED ASSETS
œ Furniture and Fixtures
œ Vehicles
œ Office Equipment
œ Computer Equipments
œ Leasehold Improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.19 |
|
|
1 |
Rs.103.14 |
|
Euro |
1 |
Rs.81.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--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 |
|
63 |
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.