MIRA
INFORM REPORT
|
Report Date : |
20.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE BIG TV LIMITED (w.e.f. 24.12.2008) |
|
|
|
|
Formerly Known
As : |
RELIANCE BIG TV PRIVATE LIMITED (w.e.f.28.09.2007) RELIANCE BLUE MAGIC PRIVATE LIMITED (w.e.f.02.09.2005) RELIANCE SKY MAGIC PRIVATE LIMITED (w.e.f.07.07.2005) RELIANCE INFRASTRUCTURE UTILITIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H Block, 1st Floor, Dhirubhai Ambani, Knowledge City, Navi Mumbai
- 400710, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-153294 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45203MH2005PLC153294 |
|
PAN No.: [Permanent Account No.] |
AADCR0351B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is in the Business of Direct-to-Home (DTH)
Broadcasting services, transmitting multi-channel TV programmes
by using Satellite system and providing TV signals direct to subscriber's
premises. |
|
|
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Reliance Group. It is an established company having moderate track record. Net worth of the company has been eroded due to continuous accumulated
loss incurred from its operation. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A- (SO): (Long Term Bank Facilities) |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
January 17, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A2+ (SO): (Short Term Bank Facilities) |
|
Rating Explanation |
Have strong degree of safety and carry low
credit risk. |
|
Date |
January 17, 2014 |
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
Management Non Co-Operative (91-22-30386286)
LOCATIONS
|
Registered Office : |
H Block, 1st Floor, Dhirubhai Ambani, Knowledge City, Navi
Mumbai - 400710, Maharashtra, India |
|
Tel. No.: |
91-22-30386286 |
|
Fax No.: |
91-22-30376622 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 25.09.2013
|
Name : |
Mr. Hasit Navinchandra
Shukla |
|
Designation : |
Director |
|
Address : |
403, “Sabita Co-Operative Housing Society
Limited, 16th Road, Bandra (West),
Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
28.08.1962 |
|
Qualification : |
B.Com, ACS, LLB |
|
Date of Appointment : |
10.10.2009 |
|
DIN No.: |
00004549 |
|
|
|
|
Name : |
Mr. Amit Jawaharlal Khanna |
|
Designation : |
Director |
|
Address : |
301, Sea Star, Balraj Sahani
Marg, Near Holiday Inn, Juhu,
Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
01.03.1951 |
|
Qualification : |
B.A (Hons.) |
|
Date of Appointment : |
07.06.2005 |
|
DIN No.: |
00005430 |
|
|
|
|
Name : |
Mr. Gautam Bhailal
Doshi |
|
Designation : |
Director |
|
Address : |
402, Hamilton court, Tagore Road, Santacruz (West), Mumbai - 400054, Maharashtra,
India |
|
Date of Birth/Age : |
23.12.1952 |
|
Qualification : |
FCA |
|
Date of Appointment : |
14.12.2007 |
|
DIN No.: |
00004612 |
KEY EXECUTIVES
|
Name : |
Mr. Hitesh K Chawda |
|
Designation : |
Company Secretary and Manager |
|
Address : |
602, R. S. Regency, Plot No. 4, Opposite Terna
Polytechnic Sector, 2A, Koparkhairne, Navi Mumbai - 400710, Maharashtra,
India |
|
Date of Birth/Age : |
21.06.1969 |
|
Date of Appointment : |
14.12.2007 |
|
PAN No.: |
ABWPC9268K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Communications Limited, India |
|
9999940 |
|
Anil D Ambani Jointly with Reliance
Communications Limited, India |
|
10 |
|
Satish Seth Jointly with Reliance Communications
Limited, India |
|
10 |
|
Amitabh Jhunjhunwala
Jointly with Reliance Communications Limited, India |
|
10 |
|
Gautam Doshi Jointly
with Reliance Communications Limited, India |
|
10 |
|
Hasit Shukla Jointly
with Reliance Communications Limited, India |
|
10 |
|
Surendera Pipara Jointly
with Reliance Communications Limited, India |
|
10 |
|
|
|
|
|
Total |
|
10000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the Business of Direct-to-Home (DTH) Broadcasting
services, transmitting multi-channel TV programmes
by using Satellite system and providing TV signals direct to subscriber's
premises. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pathak H.D. and Associates Chartered Accountants |
|
Address : |
709, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400021, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFP1031C |
|
|
|
|
Holding company : |
Reliance Communications Limited L45309MH2004PLC147531 |
|
|
|
|
Fellow Subsidiary
company : |
· Reliance Communications Infrastructure Limited U64203MH1997PLC166329 · Reliance Infocomm Infrastructure Private Limited U45300MH1993PTC173775 · Reliance Tech Services Private Limited U72900MH2007PTC172690 · Reliance IDC Limited U72900MH2001PLC131600 · Reliance Infratel Limited U72900MH2001PLC131598 · Reliance Webstore Limited U72900MH2000PLC128101 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 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 |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
(6278.600) |
(5026.400) |
(3346.400) |
|
(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) |
(6178.600) |
(4926.400) |
(3246.400) |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7322.600 |
5675.700 |
3584.100 |
|
(b) Trade payables |
1373.000 |
1291.800 |
2341.800 |
|
(c) Other current liabilities |
1124.100 |
1319.300 |
684.700 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
9819.700 |
8286.800 |
6610.600 |
|
|
|
|
|
|
TOTAL |
3641.100 |
3360.400 |
3364.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
666.900 |
839.200 |
936.200 |
|
(ii) Intangible Assets |
955.300 |
1192.500 |
1430.300 |
|
(iii) Capital work-in-progress |
138.200 |
161.900 |
177.500 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
50.200 |
37.500 |
17.500 |
|
(e) Other Non-current assets |
22.900 |
30.900 |
10.900 |
|
Total
Non-Current Assets |
1833.500 |
2262.000 |
2572.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
91.000 |
49.200 |
25.800 |
|
(d) Cash and cash equivalents |
36.600 |
2.100 |
25.000 |
|
(e) Short-term loans and
advances |
1679.800 |
1047.000 |
740.900 |
|
(f) Other current assets |
0.200 |
0.100 |
0.100 |
|
Total
Current Assets |
1807.600 |
1098.400 |
791.800 |
|
|
|
|
|
|
TOTAL |
3641.100 |
3360.400 |
3364.200 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
3542.900 |
3642.400 |
3291.600 |
|
|
Other Income |
11.000 |
13.500 |
7.600 |
|
|
TOTAL
(A) |
3553.900 |
3655.900 |
3299.200 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3675.800 |
3498.600 |
3212.900 |
|
|
Other expenses |
510.000 |
1116.100 |
997.500 |
|
|
TOTAL
(B) |
4185.800 |
4614.700 |
4210.400 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST TAX DEPRECIATION
AND AMORTISATION (C) |
(631.900) |
(958.800) |
(911.200) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.600 |
80.100 |
(57.700) |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX DEPRECIATION AND AMORTISATION (C-D) (E) |
(685.500) |
(1038.900) |
(853.500) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
566.700 |
641.100 |
593.100 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(1252.200) |
(1680.000) |
(1446.600) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(1252.200) |
(1680.000) |
(1446.600) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(5026.400) |
(3346.400) |
(1899.700) |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
(6278.600) |
(5026.400) |
(3346.300) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
106.900 |
257.400 |
444.200 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(125.22) |
(168.00) |
(144.66) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(35.23) |
(45.95) |
(43.85) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(35.34) |
(46.12) |
(43.95) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(35.75) |
(52.52) |
(45.39) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.34 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
(1.19) |
(1.15) |
(1.10) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.18 |
0.13 |
0.12 |
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 |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
(3,346.400) |
(5,026.400) |
(6,278.600) |
|
Net
worth |
(3,246.400) |
(4,926.400) |
(6,178.600) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
3,584.100 |
5,675.700 |
7,322.600 |
|
Total
borrowings |
3,584.100 |
5,675.700 |
7,322.600 |
|
Debt/Equity
ratio |
(1.104) |
(1.152) |
(1.185) |
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 |
3,291.600 |
3,642.400 |
3,542.900 |
|
|
|
10.657 |
(2.732) |
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 |
3,291.600 |
3,642.400 |
3,542.900 |
|
Profit |
(1,446.600) |
(1,680.000) |
(1,252.200) |
|
|
(43.95%) |
(46.12%) |
(35.34%) |
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 |
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] |
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 |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from others |
6885.700 |
5231.100 |
|
Other loans and advances |
436.900 |
444.600 |
|
|
|
|
|
Total |
7322.600 |
5675.700 |
OPERATIONS
During the year, the Company offers Nationwide Direct-To-Home (DTH) service about 8350 towns across the country. Reliance Digital TV was the first Company to introduce High Definition DVR. Using the state-of-the art MPEG 4 technology, it offers close to 250 channels in HD like quality. It also offers 10 Radio channels and a host of Interactive services. A unique combination of High Definition content and digital voice/picture quality deliver a vastly superior viewing experience to its subscribers.
The Company has entered into various contracts in the areas of DTH and value added service businesses. While benefits from such contracts will accrue in the future years, their progress is periodically reviewed.
Note: No Charges Exist for Company
FIXED ASSETS
· Brands and trade marks
· Licenses and franchise
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.58.43 |
|
|
1 |
Rs.98.28 |
|
Euro |
1 |
Rs.80.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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.