MIRA
INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYMANTEC SOFTWARE INDIA PRIVATE LIMITED (w.e.f. 24.10.2007) |
|
|
|
|
Formerly Known
As : |
VERITAS SOFTWARE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
0-5 Floor, Wing 1, Cluster B, Plot # 1, Survey # 77, MIDC Knowledge
Park, EON, Kharadi, Pune – 411014, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-092611 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.317.734
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH1995FTC092611 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEV04026B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV6015F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing
Research and Development ('R and D') and Software consultancy services; and providing
Technical Support services. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
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 23300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Symantec Operating Corporation, The performance capability of the company seems to be high. It
operates on its own funds. Trade relations are reported as trustworthy. Business is active.
Payment terms are regular and as per commitment. The company can be considered
good 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
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Swapnil Bhoskar |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-66157000 |
LOCATIONS
|
Registered Office : |
0-5 Floor, Wing 1, Cluster B, Plot # 1, Survey # 77, MIDC Knowledge
Park, EON, Kharadi, Pune – 411014, Maharashtra, India |
|
Tel. No.: |
91-20-67351001 / 66157000 / 66428030 |
|
Fax No.: |
91-20-66157709 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office 1 : |
2nd Floor, City Tower, 17, Opposite Ekbote Futnitire, Dhole
Patil Road, Pune – 411 001, Maharashtra, India |
|
Tel. No.: |
91-20-66428030 |
|
|
|
|
Branch Office 2: |
3rd Floor, Integrated Office, CP Lodhi Road, New Delhi – 110003, India
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Shantanu Ghosh |
|
Designation : |
Director |
|
Address : |
A-303, 10, Kastur Kunj, ICS Colony, Bhosale Nagar, Pune – 411 007, Maharashtra,
India |
|
Date of Birth/Age : |
30.05.1964 |
|
Date of Appointment : |
30.01.2008 |
|
PAN No.: |
AEIPG1441B |
|
DIN No.: |
00955230 |
|
|
|
|
Name : |
Mr. Amit Mukund Godbole |
|
Designation : |
Director |
|
Address : |
29, Anant Raghukul Society, Karve Nagar, Pune – 411 052, Maharashtra,
India |
|
Date of Birth/Age : |
19.07.1973 |
|
Date of Appointment : |
30.11.2009 |
|
PAN No.: |
ACQPG6974M |
|
DIN No.: |
02681249 |
|
|
|
|
Name : |
Ms. Eunice Jeeyoon Kim |
|
Designation : |
Director |
|
Address : |
221, Swallowtail Court, Brisbain, California – 95087, USA |
|
Date of Birth/Age : |
11.07.1973 |
|
Date of Appointment : |
30.11.2009 |
|
DIN No.: |
02673925 |
KEY EXECUTIVES
|
Name : |
Mr. Swapnil Bhoskar |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Symantec Corporation, USA |
8599980 |
27.07 |
|
Symantec Operating Corporation, USA |
23173386 |
72.93 |
|
Total |
31773366 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Providing Research
and Development ('R and D') and Software consultancy services; and providing
Technical Support services. |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
IDBI Bank Limited, Dnyaneshwar Paduka Chowk, F.C. Road, Pune – 411004,
Maharashtra, India Contact No.: 91-20-66030300 |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.S.R. and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castelmaine, Bund Garden Road, Next
to Ruby Hall Clinic, Pune – 411 001, Maharashtra, India |
|
Tel. No.: |
91-20-30585764/ 30585765 |
|
Fax No.: |
91-20-30585775 |
|
Website : |
|
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Holding Company : |
·
Symantec Operating Corporation, USA |
|
|
|
|
Ultimate Holding Company: |
·
Symantec Corporation, USA |
|
|
|
|
Fellow Subsidiaries : |
·
Bindview India Private Limited, India CIN No.: U72200MH1995FTC087269 ·
Symantec Limited, Ireland ·
Symantec Software and Services India Private
Limited, India CIN No.: U72200TN2007PTC062278 ·
Symantec Software Solutions Private Limited,
India CIN No.: U72900MH2001FTC130501 ·
Symantec Asia Pacific Pte Limited, Singapore ·
Bindview Corporation, USA |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
83000000 |
Equity Shares |
Rs.10/- each |
Rs.830.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31773366 |
Equity Shares |
Rs.10/-each |
Rs.317.734
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 |
317.734 |
317.734 |
317.734 |
|
(b) Reserves & Surplus |
5,499.095 |
4,782.405 |
4,253.992 |
|
(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) |
5,816.829 |
5,100.139 |
4,571.726 |
|
|
|
|
|
|
(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 |
81.966 |
75.385 |
80.782 |
|
(d) long-term provisions |
396.521 |
293.853 |
205.444 |
|
Total Non-current Liabilities (3) |
478.487 |
369.238 |
286.226 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
114.959 |
50.265 |
103.560 |
|
(c) Other current
liabilities |
580.870 |
498.580 |
378.068 |
|
(d) Short-term provisions |
69.380 |
63.374 |
67.765 |
|
Total Current Liabilities (4) |
765.209 |
612.219 |
549.393 |
|
|
|
|
|
|
TOTAL |
7,060.525 |
6,081.596 |
5,407.345 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2,306.945 |
1,026.688 |
955.473 |
|
(ii) Intangible Assets |
32.378 |
15.908 |
36.422 |
|
(iii) Capital
work-in-progress |
306.938 |
353.204 |
102.614 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.050 |
0.050 |
0.050 |
|
(c) Deferred tax assets (net) |
206.121 |
212.064 |
193.787 |
|
(d) Long-term Loan and Advances |
485.973 |
493.700 |
413.528 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3,338.405 |
2,101.614 |
1,701.874 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
10.110 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
395.830 |
319.429 |
321.206 |
|
(d) Cash and cash
equivalents |
1,606.918 |
2,043.650 |
2,011.300 |
|
(e) Short-term loans and
advances |
1,433.266 |
1,438.695 |
1,354.174 |
|
(f) Other current assets |
286.106 |
178.208 |
8.681 |
|
Total Current Assets |
3,722.120 |
3,979.982 |
3,705.471 |
|
|
|
|
|
|
TOTAL |
7,060.525 |
6,081.596 |
5,407.345 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
GROSS SALES |
7862.743 |
6382.039 |
5298.036 |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1862.743 |
1492.977 |
1370.446 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
844.026 |
684.340 |
706.843 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
1018.717 |
808.637 |
663.603 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
302.027 |
280.224 |
197.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
716.690 |
528.413 |
466.108 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3985.113 |
3456.700 |
2990.592 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4701.803 |
3985.113 |
3456.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Technical Service Fees |
7824.341 |
6382.039 |
5298.036 |
|
|
TOTAL EARNINGS |
7824.341 |
6382.039 |
5298.036 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.56 |
16.63 |
14.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.56 |
14.66 |
12.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.16 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.86 |
6.50 |
6.74 |
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 |
317.734 |
317.734 |
317.734 |
|
Reserves & Surplus |
4253.992 |
4782.405 |
5499.095 |
|
Net
worth |
4571.726 |
5100.139 |
5816.829 |
|
|
|
|
|
|
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 |
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 |
|
Gross Sales |
5,298.036 |
6,382.039 |
7,862.743 |
|
|
|
20.460 |
23.201 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Gross Sales |
5,298.036 |
6,382.039 |
7,862.743 |
|
Profit |
466.108 |
528.413 |
716.690 |
|
|
8.80% |
8.28% |
9.12% |
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 |
Yes |
|
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Lodging No.:- |
ITXAL/843/2012 |
Filing Date:- |
11/06/2012 |
Reg. No.:- |
ITXA/1534/2012 |
Reg. Date:- |
14/12/2012 |
|
|
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX - IV, |
Respondent:- |
SYMANTEC SOFTWARE INDIA (PRIVATE) LIMITED, |
|
|
|
Petn.Adv.:- |
TEJVEER SINGH |
Resp.Adv.:- |
ALMT LEGAL |
|
|
|
District:- |
PUNE |
|
|
|
Bench:- |
DIVISION |
|
|
|
|
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
|
|
Next Date:- |
09/09/2014 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
|
|
Coram:- |
ACCORDING TO SITTING LIST |
|
|
|
|
ACCORDING TO SITTING LIST |
|
|
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
NOTE: The registered office of the company has been
shifted from ICON, Survey No.3/8, Baner Road, Pune – 411045, Maharashtra, India to the
present address w.e.f. 17.01.2014.
BACKGROUND
The Company is a software development centre, technical support services
provider and software consultancy services provider for Symantec group
companies namely Symantec Operating Corporation, USA (‘SOC’) and Symantec
Corporation, USA (‘SC’). The Company’s Ultimate Parent Company is SC, USA.
SSIPL is registered with Software Technology Park of India (‘STPI’), Pune. On
10th August 2012, SSIPL has set up a new unit which is registered under the EON
Kharadi Special Economic Zone (SEZ).
OPERATIONS
For the period ended on March 31, 2013, Company has earned an income of Rs.7824.341 Millions as compared to Rs.6382.039 Millions in previous year showing an increase. The Company has earned a Net Profit of Rs.716.690 Millions as against a profit of Rs.528.413 Millions in the previous year showing a marginal increase. In overall, the business of the Company has managed to improve and perform better even in the global economic slowdown which has impacted most of the Industries.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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.