MIRA INFORM REPORT
|
Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
LEARNINGLINKS PUBLISHING HOUSE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-28B, Moti Nagar, New Delhi-110015 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.04.2008 |
|
|
|
|
Com. Reg. No.: |
55-177165 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.900 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U22190DL2008PTC177165 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of
Publishing of School Text Books. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 124900 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having moderate track record. The company possesses a moderate financial profile, marked by average
gearing and moderate debt protection metrics. Management has seen a gradual improvement in its net profitability
during FY 13. The ratings also take into consideration the high working capital
intensive and small scale of operations. However, trade relations seems to be fair. Business is active. Payment
terms are reported as slow but correct. In view of promoters extensive industry experience, the subject can be
considered for business dealings with some caution. |
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
B+ [Long Term] |
|
Rating Explanation |
Risk prone credit quality and high risk of default. |
|
Date |
24.06.2013 |
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 DECLINED BY
|
Name : |
Mr. Chetan |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Sumit Gupta |
|
Designation : |
Finance Manager |
|
Date : |
30.05.2014 |
LOCATIONS
|
Registered Office : |
F-28B, Moti Nagar, New Delhi-110015, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Office : |
85-A, 3rd Floor, Rishyamook Building, Panchkuian Road, New Delhi-110001,
India |
|
Tel. No.: |
91-11-23748082/83 |
|
Fax No.: |
91-11-23748081 |
|
|
|
|
Branch Office : |
Patna: Bhadsara Kothi, Thakurwari Road, PO Kadum Kuan, Patna-800003, Bihar,
India Tel No.: 91-522-2347798 Lucknow: First Floor, Shiv Vindhya Complex, Sector 22, India Nagar,
Lucknow-226016, Uttar Pradesh, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ravindra Nath Malhotra |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
GA-10, Shivaji Enclave, New Delhi-110027, India |
||||||||||||||||
|
Date of Appointment : |
24.04.2008 |
||||||||||||||||
|
Din No.: |
01260477 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mrs. Suman Malhotra |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
GA-10, Shivaji Enclave, New Delhi-110027, India |
||||||||||||||||
|
Date of Appointment : |
24.04.2008 |
||||||||||||||||
|
Din No.: |
02102382 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Gaurav Malhotra |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
GA-10, Shivaji Enclave, New Delhi-110027, India |
||||||||||||||||
|
Date of Birth/Age : |
01.09.1969 |
||||||||||||||||
|
Date of Appointment : |
30.09.2010 |
||||||||||||||||
|
Din No.: |
03097100 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Chetan |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Sumit Gupta |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ravindra Nath Malhotra |
|
13470 |
|
Suman Malhotra |
|
14500 |
|
Gaurav Malhotra |
|
1000 |
|
R.F. Kewalramani |
|
10 |
|
Ratna Kewalramani |
|
10 |
|
Kavita Gupta |
|
10 |
|
|
|
|
|
TOTAL |
|
29000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.89 |
|
Other
top fifty shareholders |
|
0.11 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of
Publishing of School Text Books. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raj Garg and Associates Chartered Accountants |
|
Address : |
D-26, 1st Floor, Sector 10, Noida-201301, Uttar Pradesh, India
|
|
Tel No.: |
91-120-4242041 |
|
Fax No.: |
91-120-4242041 |
|
Email : |
|
|
PAN No: |
AAEPG6332P |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29000 |
Equity Shares |
Rs.100/-
each |
Rs.2.900 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 |
2.900 |
2.900 |
1.700 |
|
(b) Reserves & Surplus |
28.342 |
24.350 |
10.394 |
|
(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) |
31.242 |
27.250 |
12.094 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
18.523 |
4.794 |
13.284 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.089 |
0.135 |
|
(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) |
18.523 |
4.883 |
13.419 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
51.581 |
47.236 |
36.220 |
|
(b) Trade payables |
49.467 |
38.717 |
32.130 |
|
(c) Other current liabilities |
26.247 |
19.191 |
13.780 |
|
(d) Short-term provisions |
0.900 |
0.570 |
1.550 |
|
Total Current Liabilities (4) |
128.195 |
105.714 |
83.680 |
|
|
|
|
|
|
TOTAL |
177.960 |
137.847 |
109.193 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.045 |
2.752 |
2.279 |
|
(ii) Intangible Assets |
0.449 |
0.017 |
0.067 |
|
(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) |
0.023 |
0.049 |
0.000 |
|
(d)
Long-term Loan and Advances |
0.038 |
0.000 |
0.063 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.015 |
|
Total Non-Current Assets |
4.555 |
2.818 |
2.424 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
44.438 |
37.959 |
20.906 |
|
(c) Trade receivables |
125.184 |
94.511 |
82.714 |
|
(d) Cash and cash equivalents |
1.266 |
0.743 |
0.395 |
|
(e) Short-term loans and advances |
2.517 |
1.801 |
2.739 |
|
(f) Other current assets |
0.000 |
0.015 |
0.015 |
|
Total Current Assets |
173.405 |
135.029 |
106.769 |
|
|
|
|
|
|
TOTAL |
177.960 |
137.847 |
109.193 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
150.553 |
113.836 |
100.399 |
|
|
|
Other Income |
NA |
0.001 |
0.000 |
|
|
|
TOTAL |
NA |
113.837 |
100.399 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
144.974 |
108.839 |
94.559 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
5.789 |
4.762 |
4.230 |
|
|
|
|
|
|
|
|
|
|
TAX |
1.797 |
1.605 |
1.696 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
3.992 |
3.157 |
2.534 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.250 |
4.094 |
1.560 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
11.242 |
7.251 |
4.094 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
137.65 |
108.86 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
2.77 |
2.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.85
|
4.18 |
4.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.25
|
3.45 |
3.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.17 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.24
|
1.91 |
4.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.27 |
1.27 |
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 |
1.700 |
2.900 |
2.900 |
|
Reserves & Surplus |
10.394 |
24.350 |
28.342 |
|
Net worth |
12.094 |
27.250 |
31.242 |
|
|
|
|
|
|
long-term borrowings |
13.284 |
4.794 |
18.523 |
|
Short term borrowings |
36.220 |
47.236 |
51.581 |
|
Total borrowings |
49.504 |
52.030 |
70.104 |
|
Debt/Equity ratio |
4.093 |
1.909 |
2.244 |
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 |
100.399 |
113.836 |
150.553 |
|
|
|
13.384 |
32.254 |
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 |
100.399 |
113.836 |
150.553 |
|
Profit |
2.534 |
3.157 |
3.992 |
|
|
2.52% |
2.77% |
2.65% |
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 |
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 |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10142493 |
26/11/2011 * |
50,000,000.00 |
PUNJAB NATIONAL BANK |
MSME BRANCH, NEW DELHI
HOUSE , BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
B26225946 |
* Date of charge modification
COMPANY OVERVIEW:
Subject is an institution in itself, a school
of thought that is built on the legacy of more than half a century of
experience in developing educational books and credited with reaching out to millions
of school children. The company is engaged in the business of publishing of
school text books from kindergarten to 8th class.
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
HDFC Bank Limited |
0.969 |
1.795 |
|
Bajaj Finserv Lending |
1.628 |
0.000 |
|
Deutsche Bank Limited |
2.595 |
0.000 |
|
ECL Finance Limited |
1.910 |
0.000 |
|
Magma Fincorp Limited |
1.691 |
0.000 |
|
Religare Finvest Limited |
1.369 |
0.000 |
|
From Directors |
6.910 |
1.962 |
|
TOTAL
|
17.072 |
3.757 |
FIXED ASSETS:
- Furniture and
Fixtures
- Plant and
Machinery
- Vehicles
- Computer
- Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No 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.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.