MIRA INFORM REPORT
|
Report No. : |
317964 |
|
Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ITTIAM SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th/ 5th Floor, Consulate-1 No. 1, Richmond
Road, Bangalore-560025, Karnataka |
|
Tel No. : |
91-80-66601000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
03.01.2001 |
|
|
|
|
Com. Reg. No.: |
08-028392 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 14.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900KA2001PTC028392 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRI008979E |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Subject is engaged into signal processing applications in media processing and communications covering. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There seems a dip in the sales turnover of the company but net
profitability of the company is decent during FY2014. The rating also takes
into consideration healthy financial risk profile marked by good net worth,
low gearing and comfortable liquidity of the company. Trade relations reported to be fair. Business is active. Payments are
reported to be usually correct. The company can be considered for business dealings at usual 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Peter |
|
Designation : |
Security |
|
Contact No.: |
91-80-66601000 |
|
Date : |
16.04.2015 |
LOCATIONS
|
Registered Office : |
4th/ 5th Floor, Consulate-1 No. 1, Richmond
Road, Bangalore-560025, |
|
Tel. No.: |
91-80-66601000 |
|
Fax No.: |
91-80-22237757 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 02.07.2014
|
Name : |
Mr. Srinivasan Rajam |
|
Designation : |
Chief Executive Officer and Whole Time Director |
|
Address : |
No. 14, 16th C Main, 4th Block, Koramangala, |
|
Date of Birth/Age : |
07.07.1960 |
|
Date of Appointment : |
03.01.2001 |
|
DIN No.: |
01050837 |
|
|
|
|
Name : |
Mr. Veerappa Hegde Gangaiah |
|
Designation : |
Director |
|
Address : |
No. 143, 9th Main RMV Extension, |
|
Date of Birth/Age : |
23.08.1959 |
|
Date of Appointment : |
03.01.2001 |
|
DIN No.: |
00063987 |
|
|
|
|
Name : |
Mr. Sattam Dasgupta |
|
Designation : |
Whole Time Director |
|
Address : |
No. 12, |
|
Date of Birth/Age : |
03.06.1962 |
|
Date of Appointment : |
27.11.2004 |
|
Din No.: |
01050910 |
|
|
|
|
Name : |
Mr. Ravishanar Ganeshan |
|
Designation : |
Whole Time Director |
|
Address : |
No. 49, 12th A Main, 17th Cross, Malleshwaram, |
|
Date of Birth/Age : |
10.04.1963 |
|
Date of Appointment : |
27.11.2004 |
|
DIN No.: |
01200161 |
|
|
|
|
Name : |
Mr. Shantanu Jha |
|
Designation : |
Whole Time Director |
|
Address : |
No.D-13, Raheja Residency III Block, Koramangala, |
|
Date of Birth/Age : |
23.10.1965 |
|
Date of Appointment : |
27.11.2004 |
|
DIN No.: |
01937513 |
|
|
|
|
Name : |
Mr. Amit Gupta |
|
Designation : |
Director |
|
Address : |
Flat B, 27/f tower 1, |
|
Date of Birth/Age : |
24.09.1976 |
|
Date of Appointment : |
09.10.2009 |
|
DIN No.: |
02282600 |
|
|
|
|
Name : |
Mr. LIP Butan |
|
Designation : |
Director |
|
Address : |
133373 Campus Dr. Oakland, VA, 094619, United States of Ameriaca |
|
Date of Appointment : |
25.04.2013 |
|
DIN No.: |
00146036 |
|
|
|
|
Name : |
Mr. Edward JMC Caffery |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. J Andrew Bhagyanathan |
|
Designation : |
Company Secretary |
|
Address : |
No. 3, Vaswani Melrose, Devarbeesarahalli, Outer Ring R, |
|
Date of Birth/Age : |
29.10.1960 |
|
Date of Appointment : |
04.01.2001 |
|
DIN No.: |
Aaopb9661d |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.07.2014
Note:
Shareholding details file attached
As on 02.07.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
30.00 |
|
Bodies corporate |
25.00 |
|
Directors or relatives of Directors |
45.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into signal processing applications in
media processing and communications covering. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque and Credit |
|
|
|
|
Purchasing : |
Cheque and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
20 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountant |
|
Address : |
12th and 13th Floor, “UB CITY”, Canberra Block, No.
24, Vittal Mallya Road, Bangalore-560001, Karnataka, India |
|
Tel. No.: |
91-80-40275000 |
|
Fax No.: |
91-80-22106000 |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
As on 02.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14,599,723 |
Equity Shares |
Rs.10/- each |
Rs. 14.600
Million |
|
|
|
|
|
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 |
|
|
|
|
(a) Share Capital |
14.600 |
14.597 |
14.595 |
|
(b) Reserves & Surplus |
805.456 |
739.705 |
668.705 |
|
(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) |
820.056 |
754.302 |
683.300 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9.947 |
9.964 |
2.248 |
|
(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 |
5.613 |
|
Total
Non-current Liabilities (3) |
9.947 |
9.964 |
7.861 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
127.304 |
134.141 |
|
(b) Trade payables |
10.051 |
10.784 |
4.856 |
|
(c) Other current liabilities |
3.471 |
2.958 |
1.261 |
|
(d) Short-term provisions |
20.298 |
15.589 |
4.550 |
|
Total
Current Liabilities (4) |
33.820 |
156.635 |
144.808 |
|
|
|
|
|
|
TOTAL |
863.823 |
920.901 |
835.969 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
36.389 |
41.676 |
31.335 |
|
(ii) Intangible Assets |
5.334 |
2.201 |
1.052 |
|
(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 |
31.811 |
31.911 |
31.911 |
|
(c) Deferred tax assets (net) |
20.058 |
12.048 |
0.000 |
|
(d) Long-term Loan and Advances |
120.213 |
91.802 |
9.661 |
|
(e) Other Non-current assets |
164.712 |
148.840 |
67.457 |
|
Total
Non-Current Assets |
378.517 |
328.478 |
141.416 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
20.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
226.607 |
159.765 |
145.186 |
|
(d) Cash and cash equivalents |
239.830 |
402.681 |
507.846 |
|
(e) Short-term loans and
advances |
16.102 |
21.514 |
16.171 |
|
(f) Other current assets |
2.767 |
8.463 |
5.350 |
|
Total
Current Assets |
485.306 |
592.423 |
694.553 |
|
|
|
|
|
|
TOTAL |
863.823 |
920.901 |
835.969 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
555.020 |
593.500 |
687.130 |
|
|
Other Income |
39.740 |
48.050 |
56.060 |
|
|
TOTAL
|
594.760 |
641.550 |
743.190 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
487.440 |
520.950 |
382.760 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
107.320 |
120.600 |
360.430 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
17.030 |
13.840 |
5.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
90.290 |
106.760 |
354.730 |
|
|
|
|
|
|
|
Less |
TAX |
27.750 |
37.610 |
56.340 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
62.540 |
69.150 |
298.390 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
550.540 |
593.500 |
687.130 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
4.28 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
11.27 |
11.65 |
43.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.12 |
12.17 |
44.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.14 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.18 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.35 |
3.78 |
4.80 |
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 |
14.595 |
14.597 |
14.600 |
|
Reserves & Surplus |
668.705 |
739.705 |
805.456 |
|
Net
worth |
683.300 |
754.302 |
820.056 |
|
|
|
|
|
|
long-term borrowings |
2.248 |
9.964 |
9.947 |
|
Short term borrowings |
134.141 |
127.304 |
0.000 |
|
Total
borrowings |
136.389 |
137.268 |
9.947 |
|
Debt/Equity
ratio |
0.200 |
0.182 |
0.012 |
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 |
687.130 |
593.500 |
555.020 |
|
|
|
(13.626) |
(6.484) |
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 |
687.130 |
593.500 |
555.020 |
|
Profit |
298.390 |
69.150 |
62.540 |
|
|
43.43% |
11.65% |
11.27% |
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 |
Yes |
|
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 |
Yes |
|
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 |
CORPORATE INFORMATION
Company incorporated on January 3, 2001, specializes in signal processing applications in media processing and communications covering
l. Audio-video systems
2. Voice and video over internet protocol
3. Wireless LAN
4. Voice bank modems
The solutions provided by the Company cover the entire range starting with core signal processing intellectual property (IP) in the form of algorithms, embedded software or RTL, complemented by system software, reference boards and finally complete DSP systems or reference solutions.
The Company earns revenue through licensing fee, software products and related services, royalty or a combination of these. The Company has three wholly owned subsidiaries in USA, France and Singapore and one branch office in Tokyo, Japan.
MARKET ENVIRONMENT
compared to
the previous financial year
z01z-13, financial year 2013-i4 was lower in terms of license fees and lower in terms of royalties, the two key contributory
factors being the:
General delay in market readiness in adopting new generation media technologies, such as H.265 /
HEVC (High Efficiency Video Coding), on
which tttiam,s new R&D thrust has been applied and
continuing impact from Texas Instruments' shift away from
the main DSP application markets, such as Smartphones and Tablets, while a significant part of lttiam lPS had been built on Tl platforms such as OMAP and Davinci.
The company continued to design and develop l\4edia processing and communications Embedded lP for a range of applications, including consumer electronics, smartphones, tablets. video communication and networking systems, automotive infotainment, media broadcast systems and Wi-Fi (wireless fidelity) communication.
To address the shift in the semiconductor processor platform away from Tl, the company has increased the focus on ARM core based processors for consumer applications and Intel sever Class processors for high end infrastructure applications.
The company continued to play a pioneering role in developing the Intellectual, property (lP) licensing business model, enabling its global customers to rollout products with its embedded IP.
In line with its strategy of focusing on value creation through lP, the company continues to top the number of patents granted for an Indian lT company, with 38 patents granted by the USPTO and an additional 39 patent filings currently going through the patent review process.
The key media processing and communication technologies developed by the company are critical to the fundamental trends driving the future of the world: a) ever increasing mobility, b) people accessing content online from anywhere and any device, c) staggering growth in the complexity of video data processing to High Definition and soon-to-come ultra-High Definition and d) ubiquitous internet connectivity through advanced cellular 3G/4G and high speed wireless LAN networks.
In line with the fundamental trend of online media processing and monetization, the company is making a strategic transition to organize its products and business verticals along the following
Four areas:
1. Consumer and Mobility Solutions (CMS): expanding from mobile Multimedia
2. Broadcast Media Solutions (BMS) expanding from Broadcast Technologies
3. Industrial & Defense Solutions (lDS): consolidating Networking and Turnkey Systems
4. Automotive Infotainment Solutions (AlS): strengthening the focus on Automotive
RESULTS OF OPERATIONS
The financial year ended March 31, 2014 marked the 13rh year of operations for the company. Being a product focused company, product development progressed at a quick pace and a wide range of products were added during the year.
The company's Mobile Multimedia solutions, High End video infrastructure solutions in Broadcast and Networking and Automotive Infotainment Solutions continued to be the leading and most sought after IP for many key OEM customers and ASIC / SOC partners worldwide, despite the weakness in the global markets.
At the same time company remains cautious, involving various factors that are beyond its direct control unprecedented currency fluctuations especially in the USD, continuing global slowdown fears and its worldwide impact, longer cycle times to close technology licensing and delays in new product starts by customers.
The company continued to strengthen its traditional customer base around Electronic OEMs, while trying to create new generation customer base around Internet and Software companies that drive the future of online video market. There were 43 (98) design wins and 13 (22) new customer engagements during the year, most of them of high value and quality pedigree customer wins from across the word; also several of these were repeat wins from existing customers.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10096057 |
20/05/2011 * |
100,000,000.00 |
Axis Bank Ltd |
M G Road Branch, 'Esquire Centre', No.9, M G Road,, Bangalore, Karnataka - 560001, INDIA |
B13618137 |
* Date of charge modification
FIXED ASSETS
- Plant and Machinery
- Vehicle
- Office Equipment
- Leasehold Improvements
- 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.62.35 |
|
|
1 |
Rs.93.09 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.