MIRA
INFORM REPORT
|
Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEXUS EDUCATION PRIVATE LIMITED (w.e.f.
19.09.2009) |
|
|
|
|
Formerly Known
As : |
AXIOM EDUCATION PRIVATE LIMITED (w.e.f.
01.01.2008) MEEBA TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 135/2/A, Muktanand Marg,
Chala, Vapi - 396191,
Gujarat |
|
|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.07.2006 |
|
|
|
|
Com. Reg. No.: |
04-048747 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.93.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73100GJ2006PTC048747 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTA03443G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM1445H |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Providing Education, Training, Leasing of Educational Equipment’s and
Trading of Education related Products. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track. Net worth of the company has been eroded due to continuous accumulated
loss incurred from its operations. However, business is active. Payment terms are reported to be slow. The company can be considered for business dealings on safe and
secured 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
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.2453.2 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 DENIED BY
|
Name : |
Mr. Shail Singh Solanki
|
|
Designation : |
Senior Manager |
|
Contact No.: |
91-9624733099 |
|
Date : |
16.05.2014 |
LOCATIONS
|
Registered Office : |
No. 135/2/A, Muktanand Marg,
Chala, Vapi-396191, Gujarat, India |
|
Tel. No.: |
91-260-3052100 |
|
Mobile No.: |
91-9624733099 (Mr. Shail Singh Solanki) |
|
Fax No.: |
91-260-3052125 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Administrative Office: |
601-610 Midas, Sahar Plaza Corporate Park, Andheri-Kurla Road, J B Nagar, Andheri (East), Mumbai - 400059 Maharashtra,
India |
DIRECTORS
As on 10.09.2013
|
Name : |
Mr. Pramodkumar Mangalsain
Minocha |
|
Designation : |
Director |
|
Address : |
108, Bhagyoday Society, Daman Road, Chala, Vapi – 396191, District Valsad, Gujarat, India |
|
Date of Birth/Age : |
20.10.1953 |
|
Date of Appointment : |
21.07.2006 |
|
DIN No.: |
00090060 |
|
|
|
|
Name : |
Mr. Rammohan Venkata
Chari |
|
Designation : |
Director |
|
Address : |
403, Royal Twins Apartment, Building No. 1, Daman Road, Chala, Vapi – 396191, Gujarat,
India |
|
Date of Birth/Age : |
01.08.1964 |
|
Date of Appointment : |
12.12.2007 |
|
DIN No.: |
00186939 |
KEY EXECUTIVES
|
Name : |
Mr. Shail Singh Solanki
|
|
Designation : |
Senior Manager |
MAJOR SHAREHOLDERS
As on 10.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Mylife Private Limited, India |
|
26102499 |
|
Mylife Private Limited jointly with Anjum Bilakhia |
|
1 |
|
Rohit Jambu Kumar
Jain |
|
132500 |
|
Kunal Vijaykumar
Sharma |
|
132500 |
|
Saurabh Satya Prakash Saxena |
|
132500 |
|
Total |
|
26500000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Jakir Gafulbhai Bilakhia |
|
6700000 |
|
Total |
|
6700000 |
Equity Share Break up (Percentage of Total Equity)
As on 10.09.2013
|
Category |
Percentage |
|
Bodies corporate |
98.50 |
|
Other top fifty shareholders |
1.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Education, Training, Leasing of Educational Equipment’s and
Trading of Education related Products. |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
||||||||||||
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||||||||||||
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Bankers : |
Standard Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali
Six Road, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
Notes: The External
commercial borrowing has been secured by creating first charge over Movable
Assets (Fixed Assets and Current Assets) both present and future. Further the said
loan is also secured by Corporate Guarantee given by the Ultimate Holding
company to the Bank. The loan is
repayable in 15 installments commencing on 1st September, 2012 and
ending on 1st March, 2016 and carries interest @ 3months USD LIBOR
plus 300 bps p.a.) |
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|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Gopalakrishnan Aiyer and Company Chartered Accountant |
|
Address : |
206/207, 2nd Floor, Panchratna
Building, G.I.D.C, Char Rasta, Vapi – 396195,
Gujarat, India |
|
|
|
|
Holding Company: |
·
Mylife Private Limited
|
|
|
|
|
Ultimate Holding Company: |
·
Bilakhia Holdings
Private Limited CIN No.: U67120GJ1992PTC017523 |
|
|
|
|
Fellow Subsidiary of Holding Company: |
·
Minix Holding Private Limited ·
Milestone Holding and Infrastructure Private
Limited ·
Mitsu Private Limited ·
Mexus Technology Private Limited ·
Mexus Corporation Private Limited |
CAPITAL STRUCTURE
As on 10.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
6700000 |
Preferences Shares |
Rs.100/- each |
Rs.670.000 Millions |
|
|
Total |
|
Rs.970.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26500000 |
Equity Shares |
Rs.10/- each |
Rs.265.000
Millions |
|
6700000 |
Preferences Shares |
Rs.100/- each |
Rs.670.000 Millions
|
|
|
Total |
|
Rs.935.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
935.000 |
935.000 |
665.000 |
|
(b) Reserves & Surplus |
(1,397.338) |
(972.273) |
(465.790) |
|
(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) |
(462.338) |
(37.273) |
199.210 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
214.137 |
284.928 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
3.270 |
1.845 |
1.461 |
|
(d) long-term provisions7 |
8.646 |
6.027 |
4.300 |
|
Total Non-current Liabilities (3) |
226.053 |
292.800 |
5.761 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1,298.125 |
605.125 |
132.625 |
|
(b) Trade payables |
16.019 |
33.077 |
45.689 |
|
(c) Other current
liabilities |
186.686 |
181.597 |
69.618 |
|
(d) Short-term provisions |
0.623 |
0.488 |
0.560 |
|
Total Current Liabilities (4) |
1,501.453 |
820.287 |
248.492 |
|
|
|
|
|
|
TOTAL |
1,265.168 |
1,075.814 |
453.463 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
472.796 |
286.222 |
77.093 |
|
(ii) Intangible Assets |
103.413 |
104.979 |
73.772 |
|
(iii) Capital
work-in-progress |
199.499 |
242.648 |
98.006 |
|
(iv)
Intangible assets under development |
12.831 |
39.270 |
45.068 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
32.246 |
63.913 |
48.802 |
|
(e) Other Non-current assets |
9.312 |
3.167 |
0.587 |
|
Total Non-Current Assets |
830.097 |
740.199 |
343.328 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
110.105 |
101.287 |
35.280 |
|
(c) Trade receivables |
288.087 |
150.483 |
29.321 |
|
(d) Cash and cash
equivalents |
23.026 |
59.515 |
24.382 |
|
(e) Short-term loans and
advances |
13.731 |
24.107 |
21.102 |
|
(f) Other current assets |
0.122 |
0.223 |
0.050 |
|
Total Current Assets |
435.071 |
335.615 |
110.135 |
|
|
|
|
|
|
TOTAL |
1,265.168 |
1,075.814 |
453.463 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
402.267 |
233.701 |
48.714 |
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
322.669 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
NA |
(273.955) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
0.043 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(425.065) |
(506.483) |
(273.998) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(972.273) |
(465.790) |
(191.792) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1397.338) |
(972.273) |
(465.790) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
5.588 |
4.434 |
0.000 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF IMPORT |
104.469 |
104.249 |
9.271 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(12.80) |
(19.11) |
(57.23) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(105.67) |
(216.72) |
(562.46) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
(88.26) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
(1.38) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(3.27) |
(23.88) |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.29 |
0.41 |
0.44 |
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 |
665.000 |
935.000 |
935.000 |
|
Reserves & Surplus |
(465.790) |
(972.273) |
(1,397.338) |
|
Net
worth |
199.210 |
(37.273) |
(462.338) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
284.928 |
214.137 |
|
Short term borrowings |
132.625 |
605.125 |
1298.125 |
|
Total
borrowings |
132.625 |
890.053 |
1512.262 |
|
Debt/Equity
ratio |
0.666 |
(23.879) |
(3.271) |
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 |
|
Total
Income |
48.714 |
233.701 |
402.267 |
|
|
|
379.741 |
72.129 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Total
Income |
48.714 |
233.701 |
402.267 |
|
Profit |
(273.998) |
(506.483) |
(425.065) |
|
|
(562.46%) |
(216.72%) |
(105.67%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS 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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Short Term Borrowings |
|
|
|
Loans and advances from others |
1298.125 |
605.125 |
|
Total |
1298.125 |
605.125 |
PERFORAMNCE
OVERVIEW
The total revenue for the year ended 31st March 2013 was Rs.402.267
Millions against Rs.233.701 Millions for the previous year. The loss for the
year ended as 31st March 2013 was Rs.425.065 Millions against Rs.506.483 Millions
for the previous year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10341198 |
16/02/2012 |
450,000,000.00 |
Standard Chartered Bank |
Abhijeet Ii, Ground Floor, Near Mithakali Six Road, Ahmedabad, Gujarat - 380006, India |
B34573667 |
|
2 |
10288232 |
16/02/2012 * |
400,000,000.00 |
Standard Chartered Bank |
Abhijeet Ii, Ground Floor, Near Mithakali Six Road, Ahmedabad, Gujarat - 380006, India |
B34572990 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
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 records 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.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
16 |
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.