MIRA INFORM REPORT
|
Report Date : |
06.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYNTEL LIMITED |
|
|
|
|
Formerly Known
As : |
SYNTEL ( SYNTEL SOFTWARE PRIVATE LIMITED |
|
|
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|
Registered
Office : |
Unit No. 112, SDF IV, Seepz, Andheri (East), Mumbai – 400096, |
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Country : |
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|
Financials (as
on) : |
31.03.2013 |
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|
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|
Date of
Incorporation : |
12.05.1992 |
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|
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|
Com. Reg. No.: |
11-066730 |
|
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|
|
Capital Investment
/ Paid-up Capital : |
Rs.5.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH1992PLC066730 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS15682C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS8305D |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Information Technology Services. |
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|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 106569600 |
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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 “Syntel Inc., USA” It is a well-established company having a fine track record. Financial position of the company seems to be sound. Liquidity
position is good. Promoters and directors are reported as reputed, well experienced and
respectable businessmen. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. The company can be considered good for normal business dealings at
usual trade term 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
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.
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
Management non-cooperative [91-22-40470150]
LOCATIONS
|
Registered Office : |
Unit No. 112, SDF IV, Seepz, Andheri (East), Mumbai – 400096, |
|
Tel. No.: |
91-22-40470150 |
|
Fax No.: |
91-22-40470408 |
|
E-Mail : |
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|
Website : |
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|
Branches : |
Located At:
|
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Arvind Shivram Godbole |
|
Designation : |
Whole Time Director |
|
Address : |
3/38, Jai Hanuman Society, |
|
Date of Birth/Age : |
02.05.1957 |
|
Date of Appointment : |
22.09.2008 |
|
Din No.: |
02363384 |
|
|
|
|
Name : |
Mr. Prashant Narayan Ranade |
|
Designation : |
Whole Time Director |
|
Address : |
|
|
Date of Birth/Age : |
14.11.1952 |
|
Date of Appointment : |
19.03.2010 |
|
Din No.: |
02968552 |
|
|
|
|
Name : |
Mr. Daniel Michael Moore |
|
Designation : |
Director |
|
Address : |
1974 |
|
Date of Birth/Age : |
12.06.1954 |
|
Date of Appointment : |
20.07.2009 |
|
Din No.: |
00063127 |
KEY EXECUTIVES
|
Name : |
Mr. Kalpesh Harilal Solanki |
|
Designation : |
Company Secretary |
|
Address : |
401, Sharad Rajani CHS Ashok Chakravati Road, Ashok Nagar, Kandivali
–East, Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
25.07.1976 |
|
PAN No : |
BHRPS2874M |
|
Date of Appointment : |
07.03.2012 |
|
|
|
|
Name : |
Mr. Yatin Sarojkumar Kamat |
|
Designation : |
Manager |
|
Address : |
401, Visava Saraswat, Bank Staff Chs Near Dra Meshwate Temple,
Saraswati Baug, Jogeshwari East, Mumbai-400060, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1976 |
|
Date of Appointment : |
17.06.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Syntel Inc., USA |
|
499974 |
|
Syntel (Singapore) Pte. Limited, |
|
20 |
|
Rajesh Dinanath Save |
|
1 |
|
Anil Banwarilal Agarwal |
|
1 |
|
Arvind Shivram Godbole |
|
1 |
|
Rakesh Hansraj Khanna |
|
1 |
|
Makarand Manohar Sawant |
|
1 |
|
Sudhir Brijmohan Jhunjhunwala |
|
1 |
|
|
|
|
|
1TOTAL
|
|
500000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Information Technology Services. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
B S R and Company Chartered Accountant |
|
Address : |
KPMG House, Kamal Mills Compound, 448, Senapati Bapat Marg, Mumbai –
400013, |
|
Tel. No.: |
91-22-39696000 |
|
PAN No: |
AAIFB7357B |
|
|
|
|
Holding Company : |
Syntel
Inc., USA |
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Fellow Subsidiaries : |
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|
|
|
Associates : |
State Street Syntel
Services Private Limited [U72200MH2004PTC144362] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each
|
Rs.5.000
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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves &
Surplus |
26637.400 |
19562.000 |
15115.400 |
|
(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) |
26642.400 |
19567.000 |
15120.400 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
21.800 |
33.700 |
45.400 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
237.200 |
176.700 |
148.600 |
|
(d) long-term provisions |
823.300 |
613.000 |
480.400 |
|
Total Non-current
Liabilities (3) |
1082.300 |
823.400 |
674.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1237.100 |
2039.700 |
1229.100 |
|
(c) Other current
liabilities |
989.900 |
952.700 |
816.100 |
|
(d) Short-term provisions |
413.200 |
230.100 |
124.800 |
|
Total Current Liabilities
(4) |
2640.200 |
3222.500 |
2170.000 |
|
|
|
|
|
|
TOTAL |
30364.900 |
23612.900 |
17964.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
594.000 |
781.700 |
487.900 |
|
(ii) Intangible Assets |
115.000 |
78.800 |
120.200 |
|
(iii) Capital
work-in-progress |
70.100 |
37.700 |
353.700 |
|
(iv) Intangible assets
under development |
13.200 |
1.500 |
0.000 |
|
(b) Non-current
Investments |
4552.000 |
3154.800 |
2900.500 |
|
(c) Deferred tax assets
(net) |
326.100 |
301.600 |
166.400 |
|
(d) Long-term Loan and Advances |
1553.800 |
694.400 |
692.600 |
|
(e) Other Non-current
assets |
18.500 |
26.600 |
61.700 |
|
Total Non-Current Assets |
7242.700 |
5077.100 |
4783.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1422.300 |
1101.800 |
800.800 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
10836.900 |
7056.700 |
4628.500 |
|
(d) Cash and cash
equivalents |
9016.400 |
8222.100 |
5960.700 |
|
(e) Short-term loans and
advances |
1108.100 |
1195.800 |
1090.600 |
|
(f) Other current assets |
738.500 |
959.400 |
701.200 |
|
Total Current Assets |
23122.200 |
18535.800 |
13181.800 |
|
|
|
|
|
|
TOTAL |
30364.900 |
23612.900 |
17964.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue
from operations |
24992.400 |
19513.700 |
15081.100 |
|
|
|
Other Income |
1251.800 |
1139.700 |
547.200 |
|
|
|
TOTAL (A) |
26244.200 |
20653.400 |
15628.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees Benefit Expenses |
8039.600 |
7424.200 |
5942.200 |
|
|
|
Other Expenses |
9122.200 |
7277.200 |
5654.200 |
|
|
|
TOTAL (B) |
17161.800 |
14701.400 |
11596.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9082.400 |
5952.000 |
4031.900 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9082.400 |
5952.000 |
4031.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
312.600 |
399.100 |
344.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
8769.800 |
5552.900 |
3687.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1694.400 |
1257.700 |
630.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
7075.400 |
4295.200 |
3056.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
16490.400 |
12864.200 |
10442.400 |
|
|
|
|
|
|
|
|
|
Add |
Transferred from Special
Economic Zone Re-Investment Allowance Reserve Account |
90.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
707.500 |
429.000 |
305.000 |
|
|
|
Transfer to Special
Economic Zone Re-investment allowance reserve account |
31.000 |
240.000 |
330.000 |
|
|
BALANCE CARRIED
TO THE B/S |
22917.300 |
16490.400 |
12864.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports Revenue |
24841.500 |
19457.600 |
15069.000 |
|
|
|
Interest on Deposits |
26.700 |
36.100 |
0.000 |
|
|
TOTAL EARNINGS |
24868.200 |
19493.700 |
15069.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
68.900 |
115.100 |
100.350 |
|
|
TOTAL IMPORTS |
68.900 |
115.100 |
100.350 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
14150.80 |
8590.40 |
6113.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
26.96 |
20.80 |
19.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
35.09 |
28.46 |
24.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
34.52 |
27.60 |
25.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.28 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.76 |
5.75 |
6.07 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
15115.400 |
19562.000 |
26637.400 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
15120.400 |
19567.000 |
26642.400 |
|
|
|
|
|
|
Long-term borrowings |
45.400 |
33.700 |
21.800 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
45.400 |
33.700 |
21.800 |
|
Debt/Equity ratio |
0.003 |
0.002 |
0.001 |
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) |
|
Revenue from operations |
15081.100 |
19513.700 |
24992.400 |
|
|
|
29.392 |
28.076 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
15081.100 |
19513.700 |
24992.400 |
|
Profit |
3056.800 |
4295.200 |
7075.400 |
|
|
20.27% |
22.01% |
28.31% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF
FINANCE LEASE OBLIGATIONS:
|
Particulars |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
|
|
|
|
|
|
Current
Maturities of Finance Lease Obligations |
11.900 |
11.700 |
11.500 |
|
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 |
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 |
No |
INDEX OF CHARGES: NO CHARGES EXIST
FOR THE COMPANY.
BACKGROUND:
Subject is a wholly owned
subsidiary of Syntel, Inc. the USA based Company and incorporated under
provisions of the Companies Act, 1956 ("the Act"). The Company
primarily provides information technology (IT) services. The Company's only
primary reportable segment consists of information technology (IT) services.
OPERATIONS AND PROSPECTS:
The Revenue from operations
during the year amounted to Rs. 24992.400 Millions, as compared to Rs.
19513.700 Millions in the previous year. The profit after tax was Rs7075.400
Millions as against Rs. 4295.200 Millions in the previous year, marking an
increase of over 64.72%.
Barring unforeseen
situations, the Directors are confident of the Company performing to
satisfactory levels in the current year, and hence is investing in
infrastructure, people, etc. for the services to keep up to the pace of growth.
FIXED ASSETS:
- Building
- Leasehold Improvements
- Software
- Computers and Equipment
- Furniture and fixture
- Office and other equipment
- Vehicles
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.59.30 |
|
|
1 |
Rs.99.34 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT / SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
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 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
68 |
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.