MIRA INFORM REPORT
|
Report Date : |
26.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
EQUITYMASTER AGORA RESEARCH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
103, Regent Chambers, First Floor, Nariman Point, Mumbai-400021,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.10.2007 |
|
|
|
|
Com. Reg. No.: |
11-175407 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.212
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2007PTC175407 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged,
inter alia, in the business of carrying out Equity Research on Indian Stock Market
and providing investment advice through its website and is also engaged in
authoring and publication of articles on various topics relating to finance
as well as general articles on corporates, economy, finance and allied
subjects. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company possesses an acceptable financial profile marked by
adequate networth base and comfortable capital structure with zero borrowings
recorded in the books, along with unfavourable gap between trade receivables
and payables, albeit a significant decrease in the same during the year under
review. Management has seen a justifiable turnover and reported a minimal
profit as against a previous year loss during FY 13. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of gradual improvement in the business profile, the subject
can be considered 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.
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 DECLINED
Management non co-operative [91-22-61434055]
LOCATIONS
|
Registered Office : |
103, Regent Chambers, First Floor, Nariman Point, Mumbai-400021,
Maharashtra, India |
|
Tel. No.: |
91-22-61434055 |
|
Fax No.: |
91-22-22028550 |
|
E-Mail : |
|
|
|
|
|
Mumbai Office : |
15, Ketan Bhavan, 3rd Floor, 198, Jamshedji Tata Road,
Churchgate, Mumbai-400020, Maharashtra, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ajit Dayal |
|
Designation : |
Director |
|
Address : |
15, CCI Chambers, Dinsha Wacchha Road, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
24.05.1960 |
|
Date of Appointment : |
06.06.2008 |
|
Din No.: |
00252993
|
|
|
|
|
Name : |
Mr. Venkata Subramaniam Iyer
|
|
Designation : |
Director |
|
Address : |
605-06, Raheja Acropolis, Anthena Building, Deonar Pada Road, Deonar
Village, Chembur, Mumbai-400088, Maharashtra, India |
|
Date of Birth/Age : |
29.06.1962 |
|
Date of Appointment : |
06.06.2008 |
|
Din No.: |
00253917
|
|
|
|
|
Name : |
Laura Rodgers Davis |
|
Designation : |
Director |
|
Address : |
2808, Sagewood Drive Glenwood Maryland, USA |
|
Date of Birth/Age : |
06.07.1960 |
|
Date of Appointment : |
28.02.2008 |
|
Din No.: |
02085861
|
|
|
|
|
Name : |
William Robert Bonner |
|
Designation : |
Director |
|
Address : |
402, Whitehouse Apartments, 9, Belvedere Road, London, UK |
|
Date of Birth/Age : |
08.09.1948 |
|
Date of Appointment : |
28.02.2008 |
|
Din No.: |
02116014
|
|
|
|
|
Name : |
Shobhasingh Rajaramsingh Thakur |
|
Designation : |
Alternate Director |
|
Address : |
1161, Abdul Court, Flat No. 20, 7th Floor, Suryavanshi
Marg, Off Cadel Road, Dadar, Mumbai-400028, Maharashtra, India |
|
Date of Birth/Age : |
26.08.1929 |
|
Date of Appointment : |
15.07.2011 |
|
Din No.: |
00001466
|
KEY EXECUTIVES
|
Name : |
Mr. Rahul Goel |
|
Designation : |
Manager |
|
Address : |
401, Bhavya, Near Jain Mandir, Khar (West), Mumbai-400052,
Maharashtra, India |
|
Date of Birth/Age : |
20.07.1975 |
|
Date of Appointment : |
06.06.2008 |
|
Pan No.: |
AAUPG2688Q |
|
|
|
|
Name : |
Ms. Sonal Ramachandran |
|
Designation : |
Secretary |
|
Address : |
A/401, Dheeraj Residency, Opposite Oshiwara Bus Deport, Link Road,
Goregaon (West), Mumbai-400104, Maharashtra, India |
|
Date of Birth/Age : |
09.07.1974 |
|
Date of Appointment : |
17.06.2010 |
|
Pan No.: |
ADFPN2604R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Quantum Information Services Private Limited, India |
10475 |
49.53 |
|
Agora Inc., USA |
212 |
1.00 |
|
Agora Holdings Cyprus Limited, Cyprus |
10363 |
49.00 |
|
Venkata Subramaniam Iyer |
100 |
0.47 |
|
|
|
|
|
TOTAL
|
21150 |
100.00 |
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] |
|
50.00 |
|
Bodies
corporate |
|
50.00 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged, inter
alia, in the business of carrying out Equity Research on Indian Stock Market
and providing investment advice through its website and is also engaged in
authoring and publication of articles on various topics relating to finance
as well as general articles on corporates, economy, finance and allied
subjects. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Indiabulls Finance Centre, Tower 3, 32nd Floor, Elphinstone
Mill Compount, Senapati Bapta Marg, Mumbai-400013, Maharashtra, India |
|
PAN No: |
AADFD2337G |
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|
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Associates : |
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|
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|
Joint Venture : |
|
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 |
|
|
|
|
|
|
21150 |
Equity Shares |
Rs.10/- each
|
Rs.0.212
Million |
|
|
|
|
|
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 |
0.212 |
0.212 |
0.212 |
|
(b) Reserves &
Surplus |
22.023 |
18.174 |
21.729 |
|
(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) |
22.235 |
18.386 |
21.941 |
|
|
|
|
|
|
(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 |
67.630 |
54.405 |
58.081 |
|
(d) long-term provisions |
0.503 |
0.560 |
0.562 |
|
Total Non-current Liabilities
(3) |
68.133 |
54.965 |
58.643 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
9.383 |
18.034 |
8.203 |
|
(c) Other current
liabilities |
59.813 |
73.041 |
60.154 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
69.196 |
91.075 |
68.357 |
|
|
|
|
|
|
TOTAL |
159.564 |
164.426 |
148.941 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.876 |
0.839 |
1.215 |
|
(ii) Intangible Assets |
1.191 |
10.346 |
20.894 |
|
(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 |
2.843 |
2.299 |
0.745 |
|
(c) Deferred tax assets
(net) |
2.035 |
0.726 |
0.000 |
|
(d) Long-term Loan and Advances |
6.268 |
5.002 |
1.852 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
13.213 |
19.212 |
24.706 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
39.432 |
31.056 |
45.495 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
3.260 |
7.759 |
0.967 |
|
(d) Cash and cash
equivalents |
36.025 |
43.797 |
21.370 |
|
(e) Short-term loans and
advances |
60.898 |
60.895 |
55.794 |
|
(f) Other current assets |
6.736 |
1.707 |
0.609 |
|
Total Current Assets |
146.351 |
145.214 |
124.235 |
|
|
|
|
|
|
TOTAL |
159.564 |
164.426 |
148.941 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
81.180 |
81.663 |
76.907 |
|
|
Other Income |
11.174 |
9.449 |
5.369 |
|
|
TOTAL (A) |
92.354 |
91.112 |
82.276 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
41.278 |
41.844 |
32.290 |
|
|
Other expenses |
38.757 |
41.713 |
37.305 |
|
|
TOTAL (B) |
80.035 |
83.557 |
69.595 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
12.319 |
7.555 |
12.681 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.068 |
0.223 |
0.569 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
12.251 |
7.332 |
12.112 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.712 |
11.612 |
13.901 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
2.539 |
(4.280) |
(1.789) |
|
|
|
|
|
|
|
Less |
TAX (I) |
(1.310) |
(0.725) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
3.849 |
(3.555) |
(1.789) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
181.98 |
(168.07) |
(84.60) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.17 |
(3.90) |
(2.17) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.13 |
(5.24) |
(2.33) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.64 |
(2.65) |
(1.21) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
(0.23) |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12 |
1.59 |
1.82 |
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 |
0.212 |
0.212 |
0.212 |
|
Reserves & Surplus |
21.729 |
18.174 |
22.023 |
|
Net worth |
21.941 |
18.386 |
22.235 |
|
|
|
|
|
|
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) |
|
Sales |
76.907 |
81.663 |
81.180 |
|
|
|
6.184 |
(0.591) |
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 |
76.907 |
81.663 |
81.180 |
|
Profit |
(1.789) |
(3.555) |
3.849 |
|
|
(2.33%) |
(4.35%) |
4.74% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
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 COMPANY
COMPANIES
INFORMATION:
Subject was formed as a
joint venture between Quantum Information Services Private Limited and Agora
Group, each having 50% interest. The erstwhile "equitymaster" business
was demerged from Quantum Information Services Private Limited and purchased by
Equitymaster Agora Research Private Limited on a slump sale basis w.e.f 1st
March 2008
The Company is engaged,
inter alia, in the business of carrying out Equity Research on Indian Stock
Market and providing investment advice through its website and is also engaged
in authoring and publication of articles on various topics relating to finance
as well as general articles on corporates, economy, finance and allied subjects.
The Company also provides
various Research Services on the Indian Equity Stock Market. These services are
provided to the clients based in about 65 countries.
OPERATIONS:
During the Financial year
April 1, 2012 to March 31, 2013, the Company has earned a profit of Rs 3.849
Millions as compared to a loss of Rs 3.555 Millions during the previous year
ending March 31, 2012.
It had been a difficult
year for the Company. A slower growth in new subscriptions was witnessed due to
various factors affecting the Company’s business including slowdown in growth
of Indian economy, volatility in the stock market and poor performance of
corporates. However, Management was constantly trying new products, ideas,
offers and pricing. During the year, the Company launched the “10 year Stock
Select” promotional campaign which garnered reasonable success generating 6677
subscriptions.
Continuing with its
learning initiative after the launch of its first product – ‘DeriVantage’ in
December 2011, the Company launched ‘TradeMaster’, a course on technical
analysis in July 2012. This course garnered good interest.
The Company had also
organized multiple meetings with its subscribers to better understand their
feedback regarding the quality of the services offered by the Company. The
subscribers were very satisfied with the quality of recommendations provided by
the company and offered good suggestions for improvement.
FIXED ASSETS:
Tangible Assets
- Plant and
Machinery
- Furniture and
Fixtures
- Office
Equipments
- Leasehold Improvements
Intangible Assets
- Goodwill
- Jbrands/Trademarks
- Computer
Software
- Customer
Network
- Domain Names
- Technical
Knowhow
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.60.27 |
|
|
1 |
Rs.102.28 |
|
Euro |
1 |
Rs.82.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.