MIRA
INFORM REPORT
|
Report Date : |
19.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
BHARTIYA CITY DEVELOPERS PRIVATE LIMITED (w.e.f. 11.08.2010) |
|
|
|
|
Formerly Known
As : |
ZIGMA
LAND DEVELOPERS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.05.2008 |
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|
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Com. Reg. No.: |
08-046589 |
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Capital Investment
/ Paid-up Capital : |
Rs. 250.106 Millions |
|
|
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CIN No.: [Company Identification
No.] |
U45200KA2008PTC046589 |
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|
|
PAN No.: [Permanent Account No.] |
AAACZ3571A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in construction activity. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 440000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Bhartiya Urban Infrastructure and Land
Development Company Private Limited”. It is an established company having
moderate track record. The rating takes into consideration company’s moderate financial risk
profile and accumulated loss incurred by the company during financial year
2013. However, trade relations are fair. Business is active. Payments are
reported to be 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would take
a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Facilities = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
March, 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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Umesh |
|
Designation : |
AGM Finance |
|
Contact No.: |
91-80-22534555 |
|
Date : |
17.09.2014 |
LOCATIONS
|
Registered Office : |
Anchorage - 1, 100/1, Richmond Road, Bangalore – 560025, Karnataka,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
|
|
Project Office : |
32/1, Bhartiya City, Thanisandra Main
Road, Chokkanahapalli Hegde Nagar, Bangalore - 560064, Karnataka |
|
Tel. No.: |
91-80-22534555 |
DIRECTORS
As on 19.09.2013
|
Name : |
Mr. Arjun Aggarwal |
|
Designation : |
Whole-Time Director |
|
Address : |
J-101, Sainik Farms Pushp Vihar, New Delhi – 110062, India |
|
Date of Birth/Age : |
21.06.1980 |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
00583911 |
|
PAN No.: |
ALFPA6309J |
|
|
|
|
Name : |
Mr. Snehdeep Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
J-101, Sainik Farms Pushp Vihar, New Delhi – 110062, India |
|
Date of Birth/Age : |
10.11.1956 |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
00928080 |
|
PAN No.: |
ABAPA8048F |
KEY EXECUTIVES
|
Name : |
Mr. Ankit Kumar Singh |
|
Designation : |
Secretary |
|
Address : |
F – 2B, Third Floor, Gali No. 16, Laxmi Nagar, Delhi – 110092,
India |
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Date of Birth/Age : |
22.07.1990 |
|
Date of Appointment : |
19.03.2013 |
|
PAN No.: |
CJFPS9272L |
|
|
|
|
Name : |
Mr. Umesh |
|
Designation : |
AGM Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Bhartiya Urban Infrastructure and Land Development Company
Private Limited, India |
|
25010580 |
|
Arjun Aggarwal |
|
10 |
|
Snehdeep Aggarwal |
|
10 |
|
Total |
|
25010600 |
As on 19.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Development |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
Corporation Bank, Corporate Banking Branch, Rallaram Building,
Mission Road, Bangalore - 560027, Karnataka, India |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
--- |
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|
Auditors : |
|
|
Name : |
Sushil Poddar and Company Chartered Accountants |
|
Address : |
A - 84, Street No. 15, Madhu Vihar , Patparganj, Delhi, India |
|
PAN No.: |
AGHPP7886L |
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|
Holding Company : |
Bhartiya Urban Infrastructure and Land Development Co.Private Limited |
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Fellow Subsidiary
Company : |
· Milestone Buildcon Private Limited · Bhartiya Developers Consortium Private Limited ·
D J Projects Private Limited |
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|
|
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Associate : |
· Bhartiya International Limited ·
Itopia Management Services (India) Private
Limited |
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|
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Relatives of Key
Management Personnel : |
Parushni Interior Designs Private Limited |
CAPITAL STRUCTURE
As on 19.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,010,600 |
Equity Shares |
Rs.10/- each |
Rs.250.106
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 |
250.106 |
250.106 |
250.106 |
|
(b) Reserves & Surplus |
(137.662) |
0.321 |
0.742 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
767.728 |
|
Total
Shareholders’ Funds (1) + (2) |
112.444 |
250.427 |
1018.576 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2106.496 |
1255.290 |
600.847 |
|
(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 |
5.709 |
2.612 |
0.879 |
|
Total Non-current Liabilities (3) |
2112.205 |
1257.902 |
601.726 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
8.076 |
8.076 |
8.076 |
|
(b) Trade payables |
18.019 |
7.780 |
5.413 |
|
(c) Other current
liabilities |
2239.912 |
800.298 |
9.987 |
|
(d) Short-term provisions |
4.331 |
3.090 |
1.007 |
|
Total Current Liabilities (4) |
2270.338 |
819.244 |
24.483 |
|
|
|
|
|
|
TOTAL |
4494.987 |
2327.573 |
1644.785 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
262.227 |
194.503 |
186.507 |
|
(ii) Intangible Assets |
9.794 |
1.559 |
0.269 |
|
(iii) Capital
work-in-progress |
0.000 |
41.161 |
3.686 |
|
(iv)
Intangible assets under development |
7.500 |
5.500 |
1.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
65.201 |
-0.302 |
0.000 |
|
(d) Long-term Loan and Advances |
17.360 |
17.850 |
18.006 |
|
(e) Other Non-current assets |
0.000 |
0.339 |
0.703 |
|
Total Non-Current Assets |
362.082 |
260.610 |
210.171 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
588.518 |
0.000 |
0.000 |
|
(b) Inventories |
2864.188 |
1541.097 |
985.800 |
|
(c) Trade receivables |
4.500 |
4.500 |
0.000 |
|
(d) Cash and cash
equivalents |
404.870 |
365.504 |
298.939 |
|
(e) Short-term loans and
advances |
269.804 |
155.498 |
149.511 |
|
(f) Other current assets |
1.025 |
0.364 |
0.364 |
|
Total Current Assets |
4132.905 |
2066.963 |
1434.614 |
|
|
|
|
|
|
TOTAL |
4494.987 |
2327.573 |
1644.785 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
28.090 |
5.001 |
3.334 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
231.576 |
4.520 |
1.395 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(203.486) |
0.481 |
1.939 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(65.503) |
0.902 |
0.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(137.983) |
(0.421) |
1.189 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(5.52) |
(0.02) |
0.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(491.22) |
(8.42) |
35.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.60) |
0.02 |
0.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.81) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
18.81 |
5.04 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82 |
2.52 |
58.60 |
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 |
250.106 |
250.106 |
250.106 |
|
Reserves & Surplus |
0.742 |
0.321 |
(137.662) |
|
Share Application money pending
allotment |
767.728 |
0.000 |
0.000 |
|
Net worth |
1018.576 |
250.427 |
112.444 |
|
|
|
|
|
|
long-term borrowings |
600.847 |
1255.290 |
2106.496 |
|
Short term borrowings |
8.076 |
8.076 |
8.076 |
|
Total borrowings |
608.923 |
1263.366 |
2114.572 |
|
Debt/Equity ratio |
0.598 |
5.045 |
18.806 |
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 |
3.334 |
5.001 |
28.090 |
|
|
|
50.000 |
461.688 |
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 |
3.334 |
5.001 |
28.090 |
|
Profit / (Loss) |
1.189 |
(0.421) |
(137.983) |
|
|
35.66% |
(8.42%) |
(491.22%) |
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 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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note:
The registered office of the company has been shifted from
Bikaner Signature Tower, 5th Floor, Unit No. 401, 18/1, Richmond
Road, Bangalore – 560025, Karnataka, India to present address w.e.f. 15.11.2011.
GENERAL INFORMATION
The company is a private limited company incorporated in India under the provisions of Company Act 1956 and promoted by M/s Bhartiya Urban Infrastructure and Land Development Company Private Limited. The Company is engaged in Real Estate Development and currently developing an integrated township project known as "Bhartiya City" on a land parcel of 125 acres in Bangaluru, India which predominantly comprises of Residential & Commercial projects. Out of the total land parcel, the Company has given to the extent of 25 acres to M/s. Milestone Buildcon Private Limited under a long term lease for a period of 29 years for developing a sector specific IT/ITES SEZ project. During the year, the Company has started the construction work for its Residential project.
REVIEW OF OPERATIONS
AND FUTURE OUTLOOK
The Company is developing North Bangalore Project which is an integrated township project spread over 122 acres of land.
All necessary statutory and other Government approvals including environmental clearance and construction plan have been obtained.
Discovery Centre has been completed along with their world class, carefully designed infrastructure and landscape and is now open for the visitors. The Bhartiya City Discovery Centre (DC), designed by a boutique architecture firm allows our customers to engage and interact with their Bhartiya City master plan and Bhartiya Homes. It is their resource centre for information expressing the Bhartiya brand, and giving guidance and advice on the Bhartiya housing product.
The Company had launched booking of Phase I of the Residential Apartments on 31st October 2012 which received an overwhelming response and Phase 2 was opened on 23rd January 2013 and most of the apartments offered for sale has been booked. The Excavation of the residential blocks has been completed and construction at the site has been started. The Civil contract of the residential construction has been awarded to Pratibha Industries Limited.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
8.076 |
8.076 |
|
Total |
8.076 |
8.076 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10395660 |
28/12/2012 |
1,400,000,000.00 |
CORPORATION BANK |
CORPORATE BANKING BRANCH, RALLARAM BUILDING, MISSION ROAD, BANGALORE, KARNATAKA - 560027, INDIA |
B65380750 |
|
2 |
10247168 |
22/09/2010 |
5,350,000,000.00 |
CORPORATION BANK INDUSTRIAL FINANCE BRANCH |
1ST,FLOOR 16/10,MAIN ARYA SAMAJ ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA |
A95761706 |
|
3 |
10247170 |
22/09/2010 |
5,350,000,000.00 |
CORPORATION BANK INDUSTRIAL FINANCE BRANCH |
1ST,FLOOR 16/10,MAIN ARYA SAMAJ ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA |
A95763975 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Furniture and fixtures
· Vehicles
· Office equipment
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.61.06 |
|
|
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.78.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
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 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.