MIRA
INFORM REPORT
|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
IDISCOVERI EDUCATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
305, Rohit House, 3, Tolstoy Marg, New Delhi – 110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.05.1996 |
|
|
|
|
Com. Reg. No.: |
55-079004 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.374 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999DL1996PTC079004 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in provision of education products and services
comprising teacher trading and resource material, pre-school franchising, educating
young children at preschool and professional development programs for
corporate. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects company’s moderate financial risk profile and
continuous losses that company has incurred from its operation over a year. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Ashish Singhal |
|
Designation : |
Account Finance |
|
Contact No.: |
91-124-4625000 |
|
Date : |
13.05.2014 |
LOCATIONS
|
Registered Office : |
305, Rohit House, 3, Tolstoy Marg, New Delhi – 110001,
India |
|
Tel. No.: |
91-124-4625000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
4th Floor, Emerald Court, SCO 57, Sector 29, Gurgaon –
122001, Haryana, India |
|
Tel. No.: |
91-124-2556000 |
|
Fax No.: |
91-124-2556001 |
|
|
|
|
Branch Office : |
Located At ·
Bangalore ·
Mumbai |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Renu Rajpal |
|
Designation : |
Director |
|
Address : |
C-446, Defence Colony, New Delhi – 110024, India |
|
Date of Birth/Age : |
19.12.1942 |
|
Date of Appointment : |
28.12.2009 |
|
DIN No.: |
01844610 |
|
|
|
|
Name : |
Mr. Mukund Krishnaswami |
|
Designation : |
Director |
|
Address : |
101, E Shearwater Ct Apt 66 Jersey City, NJ07305 |
|
Date of Birth/Age : |
11.06.1975 |
|
Date of Appointment : |
14.07.2010 |
|
DIN No.: |
02191368 |
|
|
|
|
Name : |
Mr. Ashish Rajpal |
|
Designation : |
Managing Director |
|
Address : |
A-154, ICON Appartment, DLF Phase V, Gurgaon -122002, Haryana, India |
|
Date of Birth/Age : |
26.11.1968 |
|
Date of Appointment : |
01.04.2001 |
|
DIN No.: |
00614112 |
|
|
|
|
Name : |
Mr. Lokesh Jindal |
|
Designation : |
Director |
|
Address : |
A-7, Swasthya Vihar, Vikas Marg, Delhi – 110092, India |
|
Date of Birth/Age : |
15.05.1969 |
|
Date of Appointment : |
20.05.1996 |
|
DIN No.: |
02491786 |
|
|
|
|
Name : |
Mr. Ronny Singh Gulati |
|
Designation : |
Director |
|
Address : |
W-1/9, FF, DLF – III, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
28.09.1967 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
01847022 |
KEY EXECUTIVES
|
Name : |
Preeti Pahwa and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
544, Tower B-2, Spaze I Tech Park, Sector 49, Gurgaon – 122018,
Haryana, India |
|
Tel. No.: |
91-124-4528500 |
|
Mobile No.: |
91-9899020006 |
|
E-Mail : |
|
|
|
|
|
Name : |
Mr. Ashish Singhal |
|
Designation : |
Account Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Equity Share) |
|
No. of Shares |
|
Ronny Singh Gulati |
|
57064 |
|
Lokesh Jindal |
|
130000 |
|
Ashish Rajpal |
|
2400593 |
|
Anustup Nayak |
|
131500 |
|
IDiscoveri Partners Trust, India
|
|
1037236 |
|
India 2020 Limited, Mauritius |
|
42207 |
|
Total |
|
3798600 |
|
Names of Shareholders (Preference Share) |
|
No. of Shares |
|
India 2020 Limited, Mauritius |
|
6630 |
|
Total |
|
6630 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
1.11 |
|
Bodies corporate |
27.31 |
|
Directors or relatives of Directors |
68.12 |
|
Other top fifty shareholders |
3.46 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in provision of education products and services
comprising teacher trading and resource material, pre-school franchising, educating
young children at preschool and professional development programs for
corporate. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||
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|
||||||||||||
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Bankers : |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg,
Lower Parel West, Mumbai - 400013, Maharashtra, India |
||||||||||||
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|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
Golf View Corporate Tower-B, Sector-42, Sector Road, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-4644000 |
|
Fax No.: |
91-124-4644050 |
|
PAN No.: |
ACHFS9118A |
|
|
|
|
Subsidiary Company
: |
Youreka Outbound Services Private Limited CIN No.: U92419DL2009PTC192810 |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.1/- each |
Rs.8.000 Millions |
|
1570000 |
Preference Shares |
Rs.100/- each |
Rs.157.000 Millions |
|
|
Total |
|
Rs.165.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3798600 |
Equity Shares |
Rs.1/- each |
Rs.3.799 Millions |
|
6630 |
Preference Shares |
Rs.100/- each |
Rs.0.663 Million |
|
3805230 |
Total |
|
Rs.4.462 Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.1/- each |
Rs.8.000 Millions |
|
1570000 |
Preference Shares |
Rs.100/- each |
Rs.157.000 Millions |
|
|
Total |
|
Rs.165.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3798600 |
Equity Shares |
Rs.1/- each |
Rs.3.799 Millions |
|
5755 |
Preference Shares |
Rs.100/- each |
Rs.0.575 Million |
|
3804355 |
Total |
|
Rs.4.374 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 |
4.374 |
4.374 |
4.221 |
|
(b) Reserves & Surplus |
222.566 |
251.099 |
216.330 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
75.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
301.940 |
255.473 |
220.551 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.539 |
0.714 |
1.043 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
3.353 |
|
(c) Other long term liabilities |
2.741 |
3.345 |
1.037 |
|
(d) long-term provisions |
3.719 |
3.536 |
2.192 |
|
Total Non-current Liabilities (3) |
6.999 |
7.595 |
7.625 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2.500 |
2.500 |
0.000 |
|
(b) Trade payables |
119.339 |
44.344 |
42.068 |
|
(c) Other current
liabilities |
15.919 |
13.127 |
11.242 |
|
(d) Short-term provisions |
3.148 |
1.548 |
0.851 |
|
Total Current Liabilities (4) |
140.906 |
61.519 |
54.161 |
|
|
|
|
|
|
TOTAL |
449.845 |
324.587 |
282.337 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
13.609 |
16.937 |
22.289 |
|
(ii) Intangible Assets |
44.616 |
52.356 |
47.066 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
46.281 |
23.434 |
0.067 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
17.950 |
15.555 |
19.224 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
122.556 |
108.382 |
88.746 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
85.463 |
82.352 |
52.661 |
|
(b) Inventories |
67.278 |
47.804 |
22.144 |
|
(c) Trade receivables |
140.540 |
51.220 |
99.096 |
|
(d) Cash and cash
equivalents |
21.684 |
21.650 |
8.948 |
|
(e) Short-term loans and
advances |
11.876 |
11.968 |
10.054 |
|
(f) Other current assets |
0.448 |
1.211 |
0.688 |
|
Total Current Assets |
327.289 |
216.205 |
193.591 |
|
|
|
|
|
|
TOTAL |
449.845 |
324.587 |
282.337 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
479.338 |
436.871 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
479.338 |
436.871 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
544.400 |
517.988 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
544.400 |
517.988 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
-65.062 |
-81.117 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
0.015 |
2.270 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(28.534) |
(65.077) |
(83.387) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(183.194) |
(118.117) |
(34.730) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(211.728) |
(183.194) |
(118.117) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(7.50) |
(17.11) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
-13.58 |
-19.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
-13.57 |
-18.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
-21.61 |
-28.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
-0.25 |
-0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32 |
3.51 |
3.57 |
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 |
4.221 |
4.374 |
4.374 |
|
Reserves & Surplus |
216.330 |
251.099 |
222.566 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
75.000 |
|
Net
worth |
220.551 |
255.473 |
301.940 |
|
|
|
|
|
|
long-term borrowings |
1.043 |
0.714 |
0.539 |
|
Short term borrowings |
0.000 |
2.500 |
2.500 |
|
Total
borrowings |
1.043 |
3.214 |
3.039 |
|
Debt/Equity
ratio |
0.005 |
0.013 |
0.010 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2011 |
31.03.2012 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
|
436.871 |
479.338 |
|
|
|
|
9.721 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2011 |
31.03.2012 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
|
436.871 |
479.338 |
|
Profit / (Loss) |
|
(83.387) |
(65.077_ |
|
|
|
(19.09%) |
(13.58%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two 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 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Short Term
Borrowing |
|
|
|
Interest free loan from director repayable on demand |
2.500 |
2.500 |
|
Total |
2.500 |
2.500 |
|
|
|
|
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Furniture and Fittings
· Computer
· Office Equipments
· 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.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.