MIRA INFORM REPORT
|
Report No. : |
316996 |
|
Report Date : |
10.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
IMG RELIANCE LIMITED (w.e.f. 29.03.2014) |
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Formerly Known
As : |
IMG RELIANCE PRIVATE LIMITED (w.e.f. 12.07.2010) SWARNAKALASH TRADING PRIVATE LIMITED |
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Registered
Office : |
Court House, 3rd Floor, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002
Maharashtra |
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Tel. No.: |
91-22-67673800 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.01.2008 |
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Com. Reg. No.: |
11-178019 |
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Capital
Investment / Paid-up Capital : |
Rs. 755.733 Million |
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CIN No.: [Company Identification
No.] |
U52100MH2008PLC178019 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AALCS6150P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is mainly engaged in the business of "Sports, Media and Entertainment". |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 Reliance Group Company. It is an established company
having moderate track record. The rating is constrained due to continuous operating loss incurred by
the company which has led to deterioration in its reserves during year under
review. However, the rating also takes note of decent liquidity and the
support it gets from its group companies. Further, the company has debt free
balance sheet too. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with slight
cautions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 DENIED
Management non co-operative
Contact No.: 91-22-67673800
LOCATIONS
|
Registered Office : |
Court House, 3rd Floor, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002
Maharashtra,
India |
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Tel. No.: |
91-22-67673800 |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Srinivasan Bodapati |
|
Designation : |
Director |
|
Address : |
Flat No.1003/4, 10th Floor, A-Wing, Chaitanya Tower, A S
Marathe Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
05.10.1966 |
|
Date of Appointment : |
12/12/2013 |
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DIN No.: |
05279396 |
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|
|
|
Name : |
Mr. Ashwin Ahamendra Khasgiwala |
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Designation : |
Director |
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Address : |
A -1, Mahavir Prasad CHS, Subhash Nagar Estate, 390, N. M. Joshi Marg,
Chinchpokli, Mumbai – 400011, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1973 |
|
Date of Appointment : |
19.01.2008 |
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DIN No.: |
00006481 |
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|
Name : |
Mr. Michael James Dolan |
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Designation : |
Director |
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Address : |
15 E, 69th ST Apartment, 6 C, New York - 10021 |
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Date of Birth/Age : |
09.11.1946 |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
03121327 |
KEY EXECUTIVES
|
Name : |
Mariappan Madubalraj |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 403, B Wing, Building No. 69, Tilak Nagar, Chembur, Mumbai –
400 089, Maharashtra, India |
|
Date of Birth/Age : |
02.07.1973 |
|
Date of Appointment : |
18.08.2010 |
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PAN No : |
ACEPM7457R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Reliance Corporate
Services Limited, India |
|
40438892 |
|
IMG Singapore PTE Limited,
Singapore |
|
40438897 |
|
Saraswatula Sudhakar
jointly with Reliance Corporate Services Limited, India |
|
1 |
|
Shah Rohit C
jointly with Reliance Corporate Services Limited, India |
|
1 |
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Damani Ramesh Kumar
jointly with Reliance Corporate Services Limited, India |
|
1 |
|
Kandasamy Sethuraman
jointly with Reliance Corporate Services Limited, India |
|
1 |
|
Mullick Raj
Gorachand jointly with Reliance Corporate Services Limited, India |
|
1 |
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|
|
|
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Total |
|
80877794 |
AS ON 30.09.2014
Equity Shares Break – up
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
50.00 |
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Bodies corporate |
|
50.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is mainly engaged in the business of "Sports, Media and Entertainment". |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Indiabulls Finance Centre, Tower 3, 27th - 32nd floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400013, Maharashtra, India |
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PAN No.: |
AACFD4815A |
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Joint Venture
Partner : |
Reliance Industries Limited (RIL) [L17110MH1973PLC019786] |
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Investing
subsidiary of RIL : |
Reliance Corporate Services Limited |
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Joint Venture
Partner : |
IMG Worldwide , INC (IMGW) |
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Investing
subsidiary of IMGW : |
IMG Singapore Pte Limited |
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Subsidiary Company
: |
Football Sports Development Private Limited (w.e.f 02.09.2013 ) |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90,000,000 |
Equity Shares |
Rs.10/- each |
Rs.900.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80,877,794 |
Equity Shares |
Rs.10/- each |
Rs.808.778
Million |
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AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90,000,000 |
Equity Shares |
Rs.10/- each |
Rs.900.000 Million |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,55,73,320 |
Equity Shares |
Rs.10/- each |
Rs.755.733
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
755.733 |
619.165 |
432.534 |
|
(b) Reserves &
Surplus |
132.656 |
246.268 |
141.548 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
185.657 |
25.000 |
40.287 |
|
Total Shareholders’ Funds
(1) + (2) |
1074.046 |
890.433 |
614.369 |
|
|
|
|
|
|
(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 |
3.541 |
3.328 |
1.485 |
|
Total Non-current
Liabilities (3) |
3.541 |
3.328 |
1.485 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
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|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
73.148 |
51.787 |
226.644 |
|
(c) Other current
liabilities |
27.366 |
34.188 |
23.586 |
|
(d) Short-term provisions |
0.060 |
0.057 |
0.027 |
|
Total Current Liabilities
(4) |
100.574 |
86.032 |
250.257 |
|
|
|
|
|
|
TOTAL |
1178.161 |
979.793 |
866.111 |
|
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|
|
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II.
ASSETS |
|
|
|
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(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6.550 |
5.435 |
0.697 |
|
(ii) Intangible Assets |
0.000 |
592.347 |
639.013 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.100 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
73.330 |
68.330 |
12.676 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
79.980 |
666.112 |
652.386 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
27.000 |
15.500 |
24.500 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
145.119 |
122.206 |
101.693 |
|
(d) Cash and cash
equivalents |
4.185 |
13.502 |
2.911 |
|
(e) Short-term loans and
advances |
284.411 |
162.473 |
84.621 |
|
(f) Other current assets |
637.466 |
0.000 |
0.000 |
|
Total Current Assets |
1098.181 |
313.681 |
213.725 |
|
|
|
|
|
|
TOTAL |
1178.161 |
979.793 |
866.111 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
342.721 |
345.926 |
432.700 |
|
|
Other Income |
13.456 |
7.291 |
|
|
|
TOTAL (A) |
356.177 |
353.217 |
432.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
|
|
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
|
|
|
Employees benefits
expense |
66.218 |
59.670 |
|
|
|
Other expenses |
717.685 |
608.476 |
|
|
|
TOTAL (B) |
783.903 |
668.146 |
723.795 [Including finance and
Depreciation] |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
(427.726) |
(314.929) |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(427.726) |
(314.929) |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.307 |
46.928 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(455.033) |
(361.857) |
(291.095) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
(455.033) |
(361.857) |
(291.095) |
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(824.569) |
(462.711) |
(171.616) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(1279.602) |
(824.569) |
(462.711) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Sponsorship and other
related income |
26.923 |
35.448 |
38.261 |
|
|
Broadcasting Rights |
44.807 |
21.084 |
|
|
|
Consultancy Services
income |
0.000 |
0.291 |
|
|
|
TOTAL EARNINGS |
71.730 |
56.823 |
38.261 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
NA |
|
|
Components and Stores
parts |
0.000 |
0.000 |
NA |
|
|
Capital Goods |
0.000 |
1.943 |
NA |
|
|
TOTAL IMPORTS |
0.000 |
1.943 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(6.67) |
(7.03) |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
(132.77) |
(104.61) |
NA |
|
|
|
|
|
|
|
Operating Profit Margin |
|
(124.80) |
(91.04) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(38.63) |
(36.93) |
(33.61) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.42) |
(0.41) |
(0.47) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.92 |
3.65 |
0.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
432.534 |
619.165 |
755.733 |
|
Reserves & Surplus |
141.548 |
246.268 |
132.656 |
|
Share Application money pending allotment |
40.287 |
25.000 |
185.657 |
|
Net worth |
614.369 |
890.433 |
1074.046 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
432.700 |
353.217 |
356.177 |
|
|
|
(18.369) |
0.838 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
432.700 |
353.217 |
356.177 |
|
Profit/Loss |
(291.095) |
(361.857) |
(455.033) |
|
|
(67.27%) |
(102.45%) |
(127.75%) |
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 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 |
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 |
No |
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
NOTE:
The registered office of the company has been
shifted from 2nd Floor, “Chitrakoot” Shreeram Mills Premises, Ganpatrao
Kadam Marg, Worli, Mumbai – 400013, Maharashtra, India to the present address
w.e.f. 21.08.2010
OPERATIONAL REVIEW
The Company has earned a total income of Rs 342.700 Million from operations during the year. Income from event management is Rs 205.100 Million against Rs.255.100 Million in previous year. Income from support services is Rs 75.600 Million in current year against Nil in previous year.
During the year, the company has successfully organized and managed Aircel Chennai Open Tennis Championship, and two seasons of Lakme Fashion week with collaboration of Hindustan Uniliver Limited.
During the year, Company has formed a subsidiary named Football Sports Development Private Limited and all commercial rights related to football were transferred to this subsidiary during the year.
Company has paid Rs 343.000 Million as Commercial right fee to All India Football Federation and Basketball Federation of India which is the major component of the operating cost.
During the current year, company has continued to spend on scholarship to competent Indian candidates to provide training in various sports at one of the best foreign academies to improve, popularize and promote the sports in India.
FIXED ASSETS:
·
Furniture and Fixtures
·
Office Equipments
·
Other Equipments
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.62.26 |
|
|
1 |
Rs.92.49 |
|
Euro |
1 |
Rs.66.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
36 |
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.