MIRA INFORM REPORT

 

 

Report No. :

352860

Report Date :

03.12.2015

 

IDENTIFICATION DETAILS

 

Name :

HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED (w.e.f. 24.12.2008)

 

 

Formerly Known As :

VIRTUAL MARKETING (INDIA) PRIVATE LIMITED

 

 

Registered Office :

F-1, 1st Floor, Laxmi Woollen Mills Estate, Shakti Mills Lane, Off Dr. E Moses Road, Mahalaxmi, Mumbai - 400013, Maharashtra

Tel. No.:

91-22-24903344

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

01.04.1999

 

 

Com. Reg. No.:

11-119259

 

 

Capital Investment / Paid-up Capital :

Rs. 28.703 Million

 

 

CIN No.:

[Company Identification No.]

U12000MH1999PTC119259

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMV06740G

 

 

 

PAN No.:

[Permanent Account No.]

AAACV7289H

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of Digital Media Entertainment across various platforms. (Registered Documents)

 

 

No. of Employees :

Information declined by the Management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1999 having satisfactory track record.

 

Subject is online on demand entertainment agency and a well-known Indian player in the media and entertainment industry.

 

Turnover of the company has slightly denied which has further resulted into a loss during FY 2014. However, net worth base of the company is sound. Liquidity position of the company is decent.

 

The rating also derives strength from the established relationship with telecom operators and entertainment content.

 

Trade relations are reported as fair. Business is active. Payments terms are reported as usually correct and as per commitment.

 

In view of long track record and established position, the company can be considered normal 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.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long Term Bank facilities=BBB+

Rating Explanation

Moderate degree of safety and carry moderate credit risk

Date

12.02.2015

 

 

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 31-03-2015.

 

 

INFORMATION DECLINED

 

MANAGEMENT NON-COOPERATIVE

 

(Contact No: 91-22-24903344)

 

 

LOCATIONS

 

Registered Office :

F-1, 1st Floor, Laxmi Woollen Mills Estate, Shakti Mills Lane, Off Dr. E Moses Road, Mahalaxmi, Mumbai - 400013, Maharashtra, India

Tel. No.:

91-22-24903344

Fax No.:

91-22-24903355

E-Mail :

companysecretary@hungama.com

info@hungama.org

Website :

http://www.hungama.org

 

 

Branch Offices 1 :

15/C, Rahim Ostagar Road, Flat 3A, Apanjan Apartment, Jodhpur Park, Kolkata - 700045, West Bengal, India

Tel. No.:

91-33-40060426

 

Branch Offices 2:

2nd Floor, Cybiz Centre, Plot No. 309-310, Udyog Vihar, Phase IV, Gurgaon -122015, Haryana, India

Tel. No.:

91-124-4503344

Fax No.:

91-124-4503355

 

 

Branch Offices 3:

B-2, 2nd Floor, Trinity Towers, Sector 7,  Noida – 201301, Uttar Pradesh, India

Tel. No.:

91-120-4113344

 

 

Branch Offices 4:

4th Floor, Enkay Centre, Block A, Vanijya Nikunj Commercial Complex, Udyog Vihar Phase V, Gurgaon 122016, Haryana

Tel. No.:

91-124-4198530

 

 

Branch Offices 5:

No.2582, 17th Main, 2nd Cross, HAL 2nd Stage, Indiranagar, Bangalore – 560008, Karnataka, India

Tel. No.:

91-80-43513344

Fax No.:

91-80-43513355

 

 

Branch Offices 6:

No. 7, Lalithapuram Street, Royapettah, Chennai - 600014, Tamilnadu, India

 

 

Branch Offices 7:

8-1,8th Floor, A1 Thuraiya Tower 2, Dubai Media City, P. O. Box 500717, Dubai, UAE

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Hiren Haresh Ved

Designation :

Director

Address :

401, Vraj, Plot 12, Vithal Nagar, N S Road 10, Jvpd Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India

Date of Birth/Age :

07.06.1970

Date of Appointment :

30.05.2000

DIN No.:

00049597

 

 

Name :

Mr. Ashish Rameshchandra Kacholia

Designation :

Director

Address :

44, Vaikunth Co Operative Housing Society Limited., Lallubhai Park Road, Andheri West, Mumbai-400058, Maharashtra, India

Date of Birth/Age :

14.04.1969

Date of Appointment :

12.04.1999

DIN No.:

00252649

 

 

Name :

Mr. Neeraj Roy

Designation :

Managing director

Address :

602,Rna Aurovilla,6th Floor,Near Poddar School, Jain Daresar Marg, Opposite Jain Mandir,Santacruz (West), Mumbai-400054, Maharashtra, India

Date of Birth/Age :

13.08.1967

Qualification :

MBA

Experience :

He has a vast experience in the digital and mobile entertainment industry over decades. Masters in Management Studies from Sydenham Institute of Management Studies. He has over 20 years in the field of media, entertainment and marketing.

Date of Appointment :

12.04.1999

PAN No.:

ADLPR8342L

DIN No.:

00285875

 

 

Name :

Mr. Rajiv Ambrish Agarwal

Designation :

Director

Address :

Chamaria Niwas, 3rd Floor, 41, Mahant Road, Vile Parle (East), Mumbai- 400057, Maharashtra, India

Date of Birth/Age :

28.03.1971

Date of Appointment :

01.09.2008

DIN No.:

00379990

 

 

Name :

Mr. Rakesh Radheyshyam Jhunjhunwala

Designation :

Director

Address :

16 C 16th Floor Il Palazzo, LT GI Road M Hill, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

05.07.1960

Date of Appointment :

02.08.2001

PAN No.:

ACPPJ9449M

DIN No.:

Director

 

 

Name :

Mr. Ralph Robert Simon

Designation :

Director

Address :

9 Elsworthy Road, London, Nw33ds, United Kingdom

Date of Birth/Age :

19.12.1946

Date of Appointment :

12.11.2009

DIN No.:

03042121

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

 

Neha Lashit Sanghvi

 

71999

Neeraj Ganesh Roy

 

296806

Lashit Lallubhai Sanghvi

 

259195

Ashwin Prakash Chandra Kedia

 

259195

Hiren Haresh Ved

 

50351

Saleem Sadrudin Mobhani

 

11246

Suleman Sadrudin Mobhani

 

11246

Rakesh Radheshyam Jhunjhunwala

 

493864

Lucky Investment Managers Private Limited, India

 

1439

Vijay Sanmukhdas Israni

 

46265

Edico Ventures Private Limited, India

 

788760

Bengal Finance and Investment Private Limited, India

 

131426

Samata Investrade Private Limited, India

 

164158

Kunal R Jhunjhunwala

 

200000

ESOP

 

84300

Total

 

2870250

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

37.83

Directors or relatives of directors

56.84

Other top fifty shareholders

5.33

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of Digital Media Entertainment across various platforms. (Registered Documents)

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Information declined by the Management

 

 

Bankers :

Bank Name:

IDBI Bank Limited

Branch:

IDBI Towerwtc Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         The Federal Bank Limited

Nariman Bhavan 12/227, Nariman Point, Mumbai-400021, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Other loans and advances

0.000

1.138

 

 

 

SHORT TERM BORROWINGS

 

 

Working capital loans from

424.678

776.851

Other loans and advances

1.137

1.880

 

 

 

Total

425.815

779.869

 

Banking Relations :

--

 

 

Financial Institution :

·         Toyota Financial Services India Limited

No. 21 Centropolis, First Floor,, 5th Cross Lang Ford Road, Shanti Nagar, Bangalore- 560025, Karnataka, India

 

 

Auditors :

 

Name :

Gandhi Paleja and Associates

Chartered Accountants

Address :

I-12, Everest Building, 10th Floor, Tardeo, Mumbai-400034, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAAFG0989J

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiary Company :

·         Hungama FZE Limited

·         Hungama Mobile FZ-LLC

·         Hungama UK Limited

·         HUNGAMA .Com Private Limited, India (U74999MH2012PTC226152)

·         Hungama Smart Cloud Private Limited, India (U74900MH2012PTC233617)

·         Hungama Gameshashtra Private Limited, India (U74999MH2013PTC242710)

·         Hungama (Singapore) Pte Limited

·         Hungama (Bangladesh) Private Limited

 

 

Persons owning interest in voting power & their relatives having a significant influence :

Edico Ventures Private Limited

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :

Nautanki.Tv Networks Private Limited, India (U72900MH2008PTC177914)

 

 

Associate :

·         Hungama Digital Services Private Limited, India (U74120MH2011PTC224699)

·         AALAP Digital Music Private Limited, India (U74900DL2011PTC228196)

·         Aptech Hungama Digital Learning LLP

·         Astute Systems Technology Private Limited, India (U51101MP1998PTC012742)

·         Aptech Hungama Digital Learning LLP

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

22,000,000

Equity Shares

Rs. 10/- each

Rs. 220.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,870,250

Equity Shares

Rs. 10/- each

Rs. 28.703 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

28.703

28.703

28.703

(b) Reserves & Surplus

995.168

1107.517

1041.636

(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)

1023.871

1136.220

1070.339

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

125.000

151.138

152.697

(b) Deferred tax liabilities (Net)

0.000

18.439

0.778

(c) Other long term liabilities

7.074

7.074

7.817

(d) long-term provisions

34.685

39.357

43.090

Total Non-current Liabilities (3)

166.759

216.008

204.382

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

689.571

778.731

665.371

(b) Trade payables

539.870

438.626

435.396

(c) Other current liabilities

108.847

159.026

129.369

(d) Short-term provisions

49.164

81.890

117.176

Total Current Liabilities (4)

1387.452

1458.273

1347.312

 

 

 

 

TOTAL

2578.082

2810.501

2622.033

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

114.582

136.553

143.517

(ii) Intangible Assets

89.903

46.773

41.476

(iii) Capital work-in-progress

0.550

60.439

30.129

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

22.162

22.126

42.589

(c) Deferred tax assets (net)

21.857

0.000

0.000

(d)  Long-term Loan and Advances

340.933

61.913

99.691

(e) Other Non-current assets

7.355

7.018

1.074

Total Non-Current Assets

597.342

334.822

358.476

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

1113.071

1292.559

1484.472

(d) Cash and cash equivalents

78.633

268.975

133.964

(e) Short-term loans and advances

764.723

799.738

629.322

(f) Other current assets

24.313

114.407

15.799

Total Current Assets

1980.740

2475.679

2263.557

 

 

 

 

TOTAL

2578.082

2810.501

2622.033

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

REVENUE

2344.116

3441.624

3944.600

  (Gross Income)

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX

NA

NA

NA

 

 

 

 

 

Less

TAX                                                                 

NA

NA

NA

 

 

 

 

 

 

PROFIT AFTER TAX

(112.350)

65.900

145.900

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

115.839

82.368

85.681

 

TOTAL EARNINGS

115.839

82.368

85.681

 

 

 

 

 

 

Earnings Per Share (Rs.)

(39.14)

22.96

50.83

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from (used in) Operations

121.752

86.808

NA

 

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(4.79)

1.91

NA

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.80

0.82

0.76

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.43

1.70

1.68

 

 

 

 

 

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

28.703

28.703

28.703

Reserves & Surplus

1041.636

1107.517

995.168

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

1070.339

1136.220

1023.871

 

 

 

 

Long-term borrowings

152.697

151.138

125.000

Short term borrowings

665.371

778.731

689.571

Total borrowings

818.068

929.869

814.571

Debt/Equity ratio

0.764

0.818

0.796

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

3441.624

2344.116

 

 

(31.889)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

3441.624

2344.116

Profit

65.900

(112.350)

 

1.91%

(4.79%)


LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10548035

02/01/2015

2,026,137.00

KOTAK MAHINDRA PRIME LIMITED

27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E),, MUMBAI- 400051, MAHARASHTRA, INDIA

C43005966

2

10549414

26/12/2014

1,430,000.00

TOYOTA FINANCIAL SERVICES INDIA LIMITED

NO. 21 CENTROPOLIS, FIRST FLOOR,, 5TH CROSS LANGF
ORD ROAD, SHANTI NAGAR, BANGALORE- 560025, KARNATAKA, INDIA

C43767953

3

10549415

26/12/2014

1,430,000.00

TOYOTA FINANCIAL SERVICES INDIA LIMITED

NO. 21 CENTROPOLIS, FIRST FLOOR,, 5TH CROSS LANGF
ORD ROAD, SHANTI NAGAR, BANGALORE- 560025, KARNATAKA, INDIA

C43768068

4

10256070

06/05/2015 *

600,000,000.00

IDBI BANK LIMITED

IDBI TOWER,WTC COMPLEX,CUFFE PARADE, MUMBAI- 400005, MAHARASHTRA, INDIA

C55964761

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Intercorporate borrowings

0.000

25.000

Loans and advances from related parties

125.000

125.000

 

 

 

SHORT TERM BORROWINGS

 

 

Intercorporate borrowings

78.659

0.000

Loans and advances from directors

2.500

0.000

Loans and advances from others

182.597

0.000

 

 

 

Total

388.756

150.000

 

 

CORPORATE INFORMATION:

 

Subject was incorporated in Mumbai, Maharashtra, India on 1st April, 1999. The Company is engaged in the business of Digital Media Entertainment across various platforms including Mobile.


FIXED ASSETS:

 

Tangible Assets

 

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipments

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 66.62

UK Pound

1

 Rs. 100.34

Euro

1

Rs. 70.67

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

7

--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

 

50

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.