MIRA INFORM REPORT
|
Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYSFORE TECHNOLOGIES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
No. 13. (117-120), 1st Floor, Green Leaf Layout, 80 Feet Road,
4th Block, Koramangala, Bangalore – 560034, Karnataka |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
21.05.2004 |
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Com. Reg. No.: |
08-033986 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64202KA2004PTC033986 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS14944G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
They are into Software Development. |
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|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 50000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems dip in the profit of the company during 2013. However,
liquidity position of the company seem to be decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct 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
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 PARTED BY
|
Name : |
Mr. Shashi |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-80-41105555 |
|
Date : |
18.06.2014 |
LOCATIONS
|
Registered Office : |
No. 13. (117-120), 1st Floor, Green Leaf Layout, 80 Feet
Road, 4th Block, Koramangala, Bangalore – 560034, Karnataka,
India |
|
Tel. No.: |
91-80-41105555 |
|
Fax No.: |
91-80-41105555 |
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E-Mail : |
|
|
Location : |
Rented |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Ramesh Ravi Machani |
|
Designation : |
Director |
|
Address : |
No. 456, Kothanur Cross, Arakere IIM Post, Bannerghatta Road,
Bangalore – 560076, Karnataka, India |
|
Date of Birth/Age : |
08.08.1973 |
|
Date of Appointment : |
27.06.2005 |
|
DIN No.: |
00320603 |
|
|
|
|
Name : |
Mr. Dinesh R. |
|
Designation : |
Director |
|
Address : |
No. #496/D, 15the Main B Cross, 4th Sector, HSR Layout,
Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
13.08.1976 |
|
Date of Appointment : |
21.05.2004 |
|
DIN No.: |
00983935 |
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|
|
|
Name : |
Mr. Mathew Ajith George |
|
Designation : |
Director |
|
Address : |
No. #A101, Nagarjuna, Green Ridge Apartments, 80 Feet Road, Ellukunte,
Bangalore – 560068, Karnataka, India |
|
Date of Birth/Age : |
20.04.1976 |
|
Date of Appointment : |
27.06.2005 |
|
DIN No.: |
02742170 |
KEY EXECUTIVES
|
Name : |
Mr. Shashi |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh R. |
|
49000 |
|
Bobby John Varghese |
|
5000 |
|
Mathew Ajith George |
|
5000 |
|
Ramesh Ravi Machani |
|
41000 |
|
|
|
|
|
Total |
|
100000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
95.00 |
|
Other top fifty shareholders |
|
5.00 |
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|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
They are into Software Development. |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Suppliers : |
United Comutors, Bangalore |
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Customers : |
My Web Groces, USA |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Vijaya Bank, Indiranagar Branch, CMH Road, Indiranagar, Bangalore - 560038, Karnataka, India |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Mannam and Associates Chartered Accountants |
|
Address : |
20, 2nd Floor, South Cross Road, Basavanagudi, Bangalore –
560004, Karnataka, India |
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Tel. No.: |
91-80-26620805 / 41203915 |
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E-Mail : |
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PAN No.: |
ADEPM2679Q |
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Sister Concern : |
Name: Progin Project
Private Limited Address: No. 13.
(117-120), 1st Floor, Green Leaf Layout, 80 Feet Road, 4th
Block, Koramangala, Bangalore – 560034, Karnataka, India Line of
business: They are into Software Development. |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000
Million |
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|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
9.111 |
8.455 |
6.750 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
2.414 |
2.414 |
2.414 |
|
Total Shareholders’ Funds (1) + (2) |
12.525 |
11.869 |
10.164 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
3.358 |
7.940 |
3.505 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
9.811 |
8.347 |
9.370 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
13.169 |
16.287 |
12.875 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.000 |
0.000 |
10.359 |
|
(c)
Other current liabilities |
14.731 |
14.559 |
10.186 |
|
(d)
Short-term provisions |
5.855 |
6.015 |
5.047 |
|
Total
Current Liabilities (4) |
20.586 |
20.574 |
25.592 |
|
|
|
|
|
|
TOTAL |
46.280 |
48.730 |
48.631 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4.368 |
5.224 |
6.929 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c)
Deferred tax assets (net) |
0.549 |
0.464 |
0.290 |
|
(d) Long-term Loan and Advances |
1.500 |
1.410 |
1.410 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
6.417 |
7.098 |
8.629 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
3.505 |
3.208 |
17.105 |
|
(d)
Cash and cash equivalents |
0.034 |
2.411 |
0.104 |
|
(e)
Short-term loans and advances |
29.351 |
29.261 |
16.822 |
|
(f)
Other current assets |
6.973 |
6.752 |
5.971 |
|
Total
Current Assets |
39.863 |
41.632 |
40.002 |
|
|
|
|
|
|
TOTAL |
46.280 |
48.730 |
48.631 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
44.771 |
40.526 |
141.289 |
|
|
Other Income |
1.601 |
0.745 |
3.036 |
|
|
TOTAL
(A) |
46.372 |
41.271 |
144.325 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
1.698 |
3.108 |
94.458 |
|
|
Employees benefits expense |
22.923 |
15.653 |
14.335 |
|
|
Other expenses |
17.752 |
16.277 |
24.028 |
|
|
TOTAL
(B) |
42.373 |
35.038 |
132.821 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
3.999 |
6.233 |
11.504 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.705 |
1.811 |
0.416 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.294 |
4.422 |
11.088 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1.596 |
1.923 |
2.223 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
0.698 |
2.499 |
8.865 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.042 |
0.795 |
2.860 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
0.656 |
1.704 |
6.005 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
6.56 |
17.05 |
60.95 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
66.100 |
|
|
|
|
|
The above information has been parted by Mr. Shashi Dhar
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.41 |
4.13 |
4.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.56 |
6.17 |
6.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.53 |
5.18 |
18.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.21 |
0.87 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27 |
0.67 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94 |
2.02 |
1.56 |
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 |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
6.750 |
8.455 |
9.111 |
|
Share Application money
pending allotment |
2.414 |
2.141 |
2.414 |
|
Net
worth |
10.164 |
11.596 |
12.525 |
|
|
|
|
|
|
long-term borrowings |
3.505 |
7.940 |
3.358 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
3.505 |
7.940 |
3.358 |
|
Debt/Equity
ratio |
0.345 |
0.685 |
0.268 |
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 |
141.289 |
40.526 |
44.771 |
|
|
|
(71.317) |
10.475 |
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 |
141.289 |
40.526 |
44.771 |
|
Profit |
6.005 |
1.704 |
0.656 |
|
|
4.25% |
4.20% |
1.47% |
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 four 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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note: The Registered Office
of the company has been shifted from 422, 80 Ft Road, 6th Block,
Koramangala, Bangalore – 560095, Karnataka, India to the present address w.e.f.
06.02.2012.
RESULTS OF OPERATIONS
During the year the company registered a turnover of Rs 46.373 millions compared to Rs 41.271 millions in the previous year. The company has earned a Net Profit (Before Tax) of Rs 0.698 millions (Previous year Net Profit of Rs 2.499 millions) after charging depreciation. The Directors are confident of achieving better results in the coming years.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10471974 |
23/12/2013 |
870,000.00 |
VIJAYA BANK |
INDIRANAGAR BRANCH, CMH ROAD, INDIRANAGAR, BANGALORE, KARNATAKA - 560038, INDIA |
B94168143 |
|
2 |
10238117 |
13/08/2010 |
695,000.00 |
VIJAYA BANK |
INDIRANAGAR BRANCH, CMH ROAD, INDIRANAGAR, BANGALORE, KARNATAKA - 560038, INDIA |
A91761346 |
|
3 |
10217317 |
17/09/2011 * |
10,000,000.00 |
VIJAYA BANK |
INDIRANAGAR BRANCH, CMH RIAD, INDIRANAGAR, BANGALORE, KARNATAKA - 560038, INDIA |
B25930801 |
* Date of charge modification
FIXED ASSETS
- Office Equipment
- Vehicles
- Computers
- Electrical Fitting
- 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. 60.12 |
|
|
1 |
Rs. 102.00 |
|
Euro |
1 |
Rs. 81.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.