MIRA INFORM REPORT
|
Report No. : |
352990 |
|
Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE ASSET RECONSTRUCTION COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Reliance Centre, 19, Walchand Hirachand Marg, Ballard Estate, Mumbai –
400038, Maharashtra |
|
Tel. No.: |
91-22-30479306 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.04.2006 |
|
|
|
|
Com. Reg. No.: |
11-161190 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1000.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH2006PLC161190 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMR20971G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR3968G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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|
|
|
Line of Business
: |
Subject operates as an asset reconstruction and debt recovery company
and also engages in the settlement of debt and securitization, as well as
acts as an agent of banks/financial institutions. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in 2006, with Reliance Capital Limited forming
49% of the shareholding of the company along with Corporation Bank and Indian
Bank as other sponsors. The company is an assets reconstruction company. It is in the business
of acquisition, management and resolution of distressed debt and assets. The company has reported net profit of Rs. 68.200 Million on a total
income of Rs. 144.200 million for the year ended Mar 31, 2014 as against net
profit of Rs. 76.000 million on a total income of Rs. 144.200 million for the
year ended March 31, 2013. The rating draws comfort from the 49% shareholding of Reliance Capital
Limited, the domain knowledge of the senior management team and the expected
managerial and operational support from Reliance Capital and focus on the
retail SME asset classes perceived to be less risky as compared to large
credits. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. In view of aforesaid, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA RATING |
|
Rating |
Long Term Debt Programme = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
September 2014 |
|
Rating Agency Name |
ICRA RATING |
|
Rating |
Short Term Bank Lines = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
September 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
31-03-2015.
INFORMATION DENIED
Management non co-operative (Tel. No.: 91-22-30479306)
LOCATIONS
|
Registered Office : |
Reliance Centre, 19, Walchand Hirachand Marg, Ballard Estate, Mumbai –
400 038, Maharashtra, India |
|
Tel. No.: |
91-22-30479306 |
|
Mobile No.: |
91-9323620626 (Mr. Reji John) |
|
Fax No.: |
91-22-30479868 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Mumbai Office : |
570, Rectifier House, 2nd Floor, Naigaum Cross Road, Near
Royal Industrial Estate, Wadala (West), Mumbai – 400031, Maharashtra, India |
|
Tel. No.: |
91-22-30479256 |
|
Fax No.: |
91-22-304798688 |
DIRECTORS
As On 02.08.2014
|
Name : |
Deena Asit Mehta |
|
Designation : |
Director |
|
Address : |
17-A, Abhilasha Building, August Kranti Marg, Mumbai – 400036,
Maharashtra, India |
|
Date of Birth/Age : |
18.02.1961 |
|
Date of Appointment : |
02.08.2014 |
|
DIN No.: |
00168992 |
|
|
|
|
Name : |
Sujal Anil Shah |
|
Designation : |
Director |
|
Address : |
701, 7th Floor Mayfair Kumkum Co-Operative Housing Society
Limited, CTS No. 772, S V, Andheri – West, Mumbai – 400058, Maharashtra,
India |
|
Date of Birth/Age : |
20.06.1957 |
|
Qualification : |
C. A. |
|
Date of Appointment : |
02.08.2014 |
|
|
|
|
DIN No.: |
00058019 |
|
Name : |
Rishi Pal Arora |
|
Designation : |
Director |
|
Address : |
A – 123, Naperol Towers Condominium, Dr. Rakidwai Marg, Wadala, Mumbai
– 400031, Maharashtra, India |
|
Date of Birth/Age : |
20.06.1957 |
|
Date of Appointment : |
18.06.2014 |
|
DIN No.: |
06899397 |
|
|
|
|
Name : |
Radha Binod Barman |
|
Designation : |
Director |
|
Address : |
A/1/1006, Rishi Garden, Film City Road, Malad (East), Mumbai – 400 097,
Maharashtra, India |
|
Date of Birth/Age : |
01.08.1948 |
|
Date of Appointment : |
02.08.2013 |
|
DIN No.: |
02612871 |
|
|
|
|
Name : |
Shrikant Shankar Rege |
|
Designation : |
Director |
|
Address : |
R-402, F-4, WP 845/848, Raheja Princess, Agar Bazar Road, Ahadur
Bander SK Bole Road, Dadar (West), Mumbai – 400 028, , Maharashtra,
India |
|
Date of Birth/Age : |
15.121956 |
|
Date of Appointment : |
02.08.2013 |
|
DIN No.: |
06554826 |
|
|
|
|
Name : |
Rajeevan Gangadharan Pillay |
|
Designation : |
Director |
|
Address : |
Flat No.2-B, Indian Bank Officer’s Bank Quarters, 9, Eldams Road,
Alwarpet, Chennai – 600 018, Tamilnadu, India |
|
Date of Birth/Age : |
19.05.1954 |
|
Date of Appointment : |
12.09.2013 |
|
DIN No.: |
06630480 |
KEY EXECUTIVES
|
Name : |
Sandeep Vrat |
|
Designation : |
Manager |
|
Address : |
Flat No.B-402, 4th Floor, Gundecha Heights, LBS Marg,
Kanjurmarg (West), Mumbai – 400 078, , Maharashtra, India |
|
Date of Birth/Age : |
30.12.1962 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AABPV4140R |
|
|
|
|
Name : |
Neema Tiwari |
|
Designation : |
Secretary |
|
Address : |
Flat No.202, Eden Garden Apartment, Sector – 5, Kharghar, Navi Mumbai
– 410 210, Maharashtra, India |
|
Date of Birth/Age : |
22.02.1982 |
|
Date of Appointment : |
12.09.2013 |
|
PAN No.: |
AJWPN1608G |
MAJOR SHAREHOLDERS
AS ON 02.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Capital Limited |
|
48964000 |
|
Corporation Bank |
|
11500000 |
|
General Insurance Corporation of India |
|
9000000 |
|
Indian Bank |
|
11500000 |
|
Dacecroft Limited |
|
9500000 |
|
Blue Ridge Limited |
|
5890000 |
|
Blue Ridge Offshore |
|
3610000 |
|
Reliance Capital Limited |
|
8000 |
|
Reliance Capital Limited |
|
7000 |
|
Reliance Capital Limited |
|
7000 |
|
Reliance Capital Limited |
|
7000 |
|
Reliance Capital Limited |
|
7000 |
|
Total |
|
100000000 |
AS ON 02.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
19.00 |
|
Bodies corporate |
49.00 |
|
Government Companies |
9.00 |
|
Nationalised/ Other Banks |
23.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject operates as an asset reconstruction and debt recovery company and
also engages in the settlement of debt and securitization, as well as acts as
an agent of banks/financial institutions. |
|
|
|
|
Products : |
Not Divlged |
|
|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
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 : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Memberships : |
Not Available |
|
|
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Collaborators : |
Not Available |
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|
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Enterprises having significant influence over the Company : |
Reliance Capital Limited, India (CIN No.: L65910MH1986PLC165645) |
|
|
|
|
Trust to which the Company acts as trustee : |
|
CAPITAL STRUCTURE
As On 02.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
|
10,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000,000 |
Equity Shares |
Rs. 10/-
each |
Rs. 1000.000
Millions |
|
|
|
|
|
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 |
1000.000 |
1000.000 |
1000.000 |
|
(b) Reserves & Surplus |
250.351 |
217.225 |
141.236 |
|
(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) |
1250.351 |
1217.225 |
1141.236 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
18.937 |
|
(d) long-term
provisions |
2.365 |
1.668 |
1.661 |
|
Total Non-current
Liabilities (3) |
2.365 |
1.668 |
20.598 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(c) Other
current liabilities |
88.559 |
22.951 |
59.164 |
|
(d) Short-term
provisions |
35.152 |
8.035 |
2.337 |
|
Total Current
Liabilities (4) |
123.711 |
30.986 |
61.501 |
|
|
|
|
|
|
TOTAL |
1376.427 |
1249.879 |
1223.335 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
0.035 |
0.025 |
0.031 |
|
(b) Non-current Investments |
451.896 |
64.715 |
42.510 |
|
(c) Deferred tax assets (net) |
3.919 |
1.798 |
0.821 |
|
(d) Long-term Loan and Advances |
537.472 |
49.898 |
18.937 |
|
(e) Other
Non-current assets |
55.130 |
892.040 |
520.248 |
|
Total Non-Current
Assets |
638.452 |
1008.476 |
582.547 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
8.167 |
27.563 |
|
(d) Cash
and cash equivalents |
313.003 |
220.002 |
504.098 |
|
(e)
Short-term loans and advances |
11.218 |
11.330 |
90.636 |
|
(f) Other
current assets |
3.754 |
1.904 |
18.491 |
|
Total
Current Assets |
327.975 |
241.403 |
640.788 |
|
|
|
|
|
|
TOTAL |
1376.427 |
1249.879 |
1223.335 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
69.732 |
44.354 |
97.727 |
|
|
|
Other Income |
74.468 |
99.844 |
99.839 |
|
|
|
TOTAL (A) |
144.200 |
144.198 |
197.566 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefit expenses |
17.857 |
17.064 |
18.669 |
|
|
|
Other expenses |
22.663 |
12.949 |
10.126 |
|
|
|
TOTAL
(B) |
40.520 |
30.013 |
28.795 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
103.680 |
114.185 |
168.771 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.320 |
1.668 |
4.994 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
103.360 |
112.517 |
163.777 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.006 |
0.006 |
0.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
103.354 |
112.511 |
163.771 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
35.130 |
36.523 |
53.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
68.224 |
75.988 |
110.511 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.68 |
0.76 |
1.11 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
9.613 |
27.563 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
97.83
|
171.32 |
113.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
148.68
|
257.44 |
172.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.50 |
9.00 |
9.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.09 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.65 |
7.79 |
10.42 |
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 |
1000.000 |
1000.000 |
1000.000 |
|
Reserves & Surplus |
141.236 |
217.225 |
250.351 |
|
Net
worth |
1141.236 |
1217.225 |
1250.351 |
|
|
|
|
|
|
long-term borrowings |
18.937 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
18.937 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.017 |
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 |
97.727 |
44.354 |
69.732 |
|
|
|
(54.614) |
57.217 |
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 |
97.727 |
44.354 |
69.732 |
|
Profit |
110.511 |
75.988 |
68.224 |
|
|
113.08% |
171.32% |
97.84% |
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 |
No |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
Yes |
|
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 |
10519362 |
08/09/2014 |
500,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G
ROAD,BANGALORE, BANGALORE, Karnataka - 560 |
C20133773 |
FIXED ASSETS
- Furniture and
Fixture
- 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, 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. 66.75 |
|
UK Pound |
1 |
Rs. 99.61 |
|
Euro |
1 |
Rs. 70.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
48 |
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.