MIRA INFORM REPORT
|
Report Date : |
26.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE MONEY EXPRESS LIMITED (w.e.f. 23.01.2008) |
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Formerly Known
As : |
RELIANCE MONEY EXPRESS PRIVATE LIMITED (w.e.f. 02.09.2007) TRAVELMATE SERVICES (INDIA) PRIVATE LIMITED (w.e.f. 10.06.2004) TRAVELMATE FOREX SERVICES (INDIA) PRIVATE LIMITED |
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Registered
Office : |
11th Floor, R-Tech IT Park, Nirlon Compound, Western Express
Highway, Goregaon (East), Mumbai – 400063, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.11.2002 |
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Com. Reg. No.: |
11-138032 |
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Capital
Investment / Paid-up Capital : |
Rs.178.131 Millions |
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CIN No.: [Company Identification
No.] |
U74999MH2002PLC138032 |
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PAN No.: [Permanent Account No.] |
AABCT7910Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is licensed by the Reserve Bank of India to
operate as "Full Fledged Money Changer"(FFMC) and also acts as an
agent of Western Union, Ireland ('the Principal') for the money transfer
service in India. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 an established company having good track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Directors are well experienced and knowledgeable businessman. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 (91-22-30591234)
LOCATIONS
|
Registered Office/ Head Office/ Corporate Office 1 : |
11th Floor, R-Tech IT Park, Nirlon Compound, Western Express
Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-30591234 / 33201212 |
|
Mobile No.: |
91-7498248889 (Mr. Irfan) |
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Fax No.: |
91-22-30591555 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office 2 : |
Money Transfer
Division. Plot No. 27 to 30, MCD No. 1001, First Floor, Faiz Road,
Karol Bagh, New Delhi- 110005, India |
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Tel. No.: |
91-11-28758862 |
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Fax No.: |
91-11-28758865 |
DIRECTORS
As on 01.06.2012
|
Name : |
Mr. Amit Bapna |
|
Designation : |
Director |
|
Address : |
503, Purna Apartments, Sir Pochkhanwala Road, Mumbai – 400030,
Maharashtra, India |
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Date of Birth/Age : |
20.01.1975 |
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Qualification : |
B.Com, ACA |
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Date of Appointment : |
24.04.2009 |
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DIN No.: |
00008443 |
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Name : |
Mr. Lav Ramji Chaturvedi |
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Designation : |
Director |
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Address : |
X-403-04, Golden Rays, Shastri Nagar, Andheri (West), Mumbai – 400022,
Maharashtra, India |
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Date of Birth/Age : |
20.07.1976 |
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Qualification : |
B.Com, MBA, CFA |
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Date of Appointment : |
26.10.2010 |
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DIN No.: |
02859336 |
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Name : |
Mr. Suresh T Viswanathan |
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Designation : |
Director |
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Address : |
1/340 Raghunath Vihar Awho Sector 14, Kharghar, Navi Mumbai – 410210,
Maharashtra, India |
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Date of Birth/Age : |
22.05.1960 |
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Date of Appointment : |
25.04.2012 |
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DIN No.: |
01731169 |
KEY EXECUTIVES
|
Name : |
Mr. Irfan |
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Designation : |
Accounts Department |
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|
Name : |
Mr. Ashish Dhirajlal Turakhia |
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Designation : |
Manager and Secretary |
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Address : |
303, Devaki, Vathalbhai Road, Ville Parle (West), Mumbai – 400056,
Maharashtra, India |
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Date of Birth/Age : |
08.06.1963 |
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Date of Appointment : |
12.10.2007 |
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PAN No.: |
AAAPT3064D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.06.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Reliance Capital Limited, India
|
|
13813133 |
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Reliance Capital Limited, India jointly with Dipak K Shah |
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1 |
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Reliance Capital Limited, India jointly with Pawan Kothari |
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1 |
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Reliance Capital Limited, India jointly with Pushkar Lal |
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1 |
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Reliance Capital Limited, India jointly with V R Mohan |
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1 |
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Reliance Capital Limited, India jointly with Amit Bapna |
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1 |
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Reliance Capital Limited, India jointly with Yogesh Deshpande |
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1 |
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Reliance Capital Limited, India jointly with Madan Chaturvedi |
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1 |
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Total |
|
13813140 |
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Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Reliance Capital Limited, India
|
|
15000000 |
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Total |
|
15000000 |
As on 01.06.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is licensed by the Reserve Bank of India to
operate as "Full Fledged Money Changer"(FFMC) and also acts as an agent
of Western Union, Ireland ('the Principal') for the money transfer service in
India. |
||||
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||||
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
Axis Bank Limited, 41/418 Ground Floor, Chicago Plaza, Rajaji Road, Cochin - 682035, Kerala, India Tel. No.:
91-484-4411006 |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Chaturvedi and Shah Chartered Accountants |
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Address : |
714-715, Tulsiani Chambers.212, Nariman Point, Mumbai –
400021, Maharashtra, India |
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PAN No.: |
AAAFC0662N |
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Holding company : |
Reliance Capital Limited |
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Fellow Subsidiary company
: |
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CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
15000000 |
Preference Share |
Rs.10/- each |
Rs.150.000 Millions |
|
|
Total |
|
Rs.300.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13813140 |
Equity Shares |
Rs.10/- each |
Rs.138.131 Millions |
|
4000000 |
Preference Share |
Rs.10/- each |
Rs.40.000 Millions |
|
|
Total |
|
Rs.178.131 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 |
|
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|
(1)Shareholders' Funds |
|
|
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(a) Share Capital |
178.131 |
288.131 |
288.131 |
|
(b) Reserves & Surplus |
202.762 |
112.464 |
41.028 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
380.893 |
400.595 |
329.159 |
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|
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(3)
Non-Current Liabilities |
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|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.023 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.270 |
0.876 |
0.546 |
|
Total Non-current
Liabilities (3) |
0.270 |
0.876 |
0.569 |
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(4)
Current Liabilities |
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|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
329.285 |
193.620 |
19.370 |
|
(c) Other current
liabilities |
43.731 |
39.343 |
129.246 |
|
(d) Short-term
provisions |
14.490 |
18.323 |
8.592 |
|
Total Current
Liabilities (4) |
387.506 |
251.286 |
157.208 |
|
|
|
|
|
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TOTAL |
768.669 |
652.757 |
486.936 |
|
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|
|
II.
ASSETS |
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|
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|
(1)
Non-current assets |
|
|
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(a) Fixed
Assets |
|
|
|
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(i)
Tangible assets |
3.905 |
4.868 |
6.938 |
|
(ii)
Intangible Assets |
0.890 |
0.292 |
0.371 |
|
(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) |
0.871 |
3.178 |
0.000 |
|
(d) Long-term Loan and Advances |
59.722 |
43.807 |
45.599 |
|
(e) Other Non-current
assets |
2.002 |
2.003 |
2.000 |
|
Total Non-Current
Assets |
67.390 |
54.148 |
54.908 |
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2.353 |
1.972 |
2.061 |
|
(c) Trade receivables |
369.986 |
264.781 |
0.983 |
|
(d) Cash
and cash equivalents |
50.743 |
158.712 |
288.000 |
|
(e)
Short-term loans and advances |
278.048 |
173.001 |
140.804 |
|
(f) Other
current assets |
0.149 |
0.143 |
0.180 |
|
Total
Current Assets |
701.279 |
598.609 |
432.028 |
|
|
|
|
|
|
TOTAL |
768.669 |
652.757 |
486.936 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
399.052 |
383.452 |
338.744 |
|
|
|
Other Income |
79.733 |
61.272 |
83.337 |
|
|
|
TOTAL (A) |
478.785 |
444.724 |
422.081 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
66.028 |
79.224 |
69.282 |
|
|
|
Other expenses |
294.943 |
272.142 |
316.925 |
|
|
|
TOTAL (B) |
360.971 |
351.366 |
386.207 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
117.814 |
93.358 |
35.874 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.019 |
4.057 |
3.147 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
113.795 |
89.301 |
32.727 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.043 |
2.258 |
6.653 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
111.752 |
87.043 |
26.074 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.453 |
15.608 |
(38.632) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
90.299 |
71.435 |
64.706 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
81.072 |
9.637 |
(55.069) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
171.371 |
81.072 |
9.637 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
392.140 |
378.069 |
340.173 |
|
|
TOTAL EARNINGS |
392.140 |
378.069 |
340.173 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
6.54 |
5.17 |
4.68 |
|
|
|
Diluted |
5.07 |
2.48 |
2.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
18.86 |
16.06 |
15.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
28.00 |
22.70 |
7.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.55 |
13.40 |
5.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.22 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
2.38 |
2.75 |
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 |
288.131 |
288.131 |
178.131 |
|
Reserves & Surplus |
41.028 |
112.464 |
202.762 |
|
Net
worth |
329.159 |
400.595 |
380.893 |
|
|
|
|
|
|
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 |
338.744 |
383.452 |
399.052 |
|
|
|
13.198 |
4.068 |
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 |
338.744 |
383.452 |
399.052 |
|
Profit |
64.706 |
71.435 |
90.299 |
|
|
19.10% |
18.63% |
22.63% |
LOCAL AGENCY FURTHER INFORMATION
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 |
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 |
OPERATIONS:
(a) Renewal of Full Fledged Money Changer’s (FFMC) Licence
The Reserve Bank of India has renewed the FFMC licence of the Company which is valid till March 31, 2013. The Company has applied for its further renewal.
b) Renewal of Money Transfer Services Scheme permission
The Company shall be applying for the renewal of its MTSS permission in accordance with the circular dated March 12, 2013 issued by the Reserve Bank of India.
(c) Redemption of Preference Shares
During the year under review, the Company has redeemed 1,10,00,000 0% Optionally Convertible Redeemable Preference Shares of Rs 10/- each fully paid up aggregating to Rs.110.000 Milions on February 28, 2013, in accordance with the terms of issue of the same, from out of the general reserve (to the extent available) and the balance out of profits otherwise available for dividend
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
- Leasehold Improvements
- Computers
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.60.28 |
|
|
1 |
Rs.102.28 |
|
Euro |
1 |
Rs.82.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.