MIRA INFORM REPORT
|
Report No. : |
355285 |
|
Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
NAZARA TECHNOLOGIES PRIVATE LIMITED (w.e.f. 04.07.2003) |
|
|
|
|
Formerly Known
As : |
NAZARA.COM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
601, Dalamal House, Nariman Point, Mumbai-400021, Maharashtra |
|
Tel. No.: |
91-22-40330800 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
08.12.1999 |
|
|
|
|
Com. Reg. No.: |
11-122970 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.346 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH1999PTC122970 |
|
|
|
|
IEC No.: |
Not Applicable [As claimed by Company management the company does not Export and
Import] |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN13414C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN0730A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is act as a Mobile Games Developers. (Confirmed by Management) |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
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 was incorporated in the year 1999 and it acts as a mobile
games developer. It is an established company having satisfactory track. As per Registrar of Companies, the date of balance sheet (i.e.
financial filed) is shown as 31.03.2015 but the documents related to the
financials are not available from any source. However, as per 2014 financial, the company possesses sound financial
profile marked by its decent profit margins, healthy networth position along
with zero debt balance sheet profile of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be usually 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
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
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Kiran Joshi |
|
Designation : |
Assistant Manager Accounts/ Finance |
|
Contact No.: |
91-22-40330800 |
|
Date : |
16.12.2015 |
LOCATIONS
|
Registered Office : |
601, Dalamal House, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Tel. No.: |
91-22-40330800/ 22810303/ 22813030 |
|
Fax No.: |
91-22-22810606 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
51-57, Maker Chambers, 3, Nariman Point, Mumbai-400021, Maharashtra,
India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Vikash Pratapchand Mittersain |
|
Designation : |
Managing director |
|
Address : |
24, Vijay Villa, 79, Worli Sea Face,, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
04.06.1954 |
|
Date of Appointment : |
08.12.1999 |
|
DIN No.: |
00156740 |
|
|
|
|
Name : |
Mr. Nitish Vikash Mittersain |
|
Designation : |
Whole-time director |
|
Address : |
24, Vijay Villa, 79, Worli Sea Face, Worli, Mumbai-400025,
Maharashtra, India |
|
Date of Birth/Age : |
03.03.1979 |
|
Date of Appointment : |
08.12.1999 |
|
DIN No.: |
02347434 |
|
|
|
|
Name : |
Mr. Kuldeep Jain |
|
Designation : |
Director |
|
Address : |
Bunglow No.26, J K Gram, Pokhran Rd. No.1, Thane
(West)-400606, Maharashtra, India |
|
Date of Birth/Age : |
27.01.1975 |
|
Date of Appointment : |
20.08.2013 |
|
DIN No.: |
02683041 |
|
|
|
|
Name : |
Mr. Sandeep Singhal |
|
Designation : |
Nominee director |
|
Address : |
C-76, Diamond District, Airport Road, Bangalore-560017,
Karnataka, India |
|
Date of Birth/Age : |
31.12.1969 |
|
Date of Appointment : |
07.10.2005 |
|
DIN No.: |
00040491 |
KEY EXECUTIVES
|
Name : |
Mr. Kiran Joshi |
|
Designation : |
Assistant Manager Accounts/ Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Westbridge Ventures II Investment Holdings |
|
101730 |
|
Mitter Infotech LLP |
|
15704 |
|
Indexarb Securities Private Limited |
|
15704 |
|
Vikash Mittersian |
|
20 |
|
Nitish Mittersain |
|
10 |
|
Rajeev Ruprajendra Chitrabhanu |
|
16361 |
|
Emerging Investment Limited |
|
44065 |
|
Anup Jalota |
|
1786 |
|
Westbridge Ventures II Investment Holdings |
|
10 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Westbridge Ventures II Investment Holdings |
|
1251204 |
|
Total |
|
1251204 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Venture Capital |
12.99 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
6.03 |
|
Bodies
corporate |
78.52 |
|
Other
top fifty shareholders |
2.46 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is act as a Mobile Games Developers. (Confirmed by Management) |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
-- |
|
Countries : |
-- |
|
|
|
|
Imports : |
|
|
Products : |
-- |
|
Countries : |
-- |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Advance Payment |
|
|
|
|
Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Retailers and End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
-- |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R Batliboi and Associates LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapat Bapat Marg, Dadar(West),
Mumbai-400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Mitter Infotech LLP |
|
|
|
|
Subsidiary Company : |
· Nazara Technologies FZ LLC · Nazara Europe Limited · Nazara Pte Limited · Nazara Technologies |
|
|
|
|
Stepdown Subsidiary Company : |
· Nazara Zambia Limited · Nzmobile Nigeria Limited · Nzmobile Kenya Limited · Nazara Uganda Limited |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 34.500 Million
Issued, Subscribed & Paid-up Capital : Rs. 19.892 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,325,000 |
Equity Shares |
Rs. 10/- each |
Rs. 13.250 Million |
|
2,125,000 |
Preference Shares |
Rs. 10/- each |
Rs. 21.250 Million |
|
|
Total |
|
Rs. 34.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
783,442 |
Equity Shares |
Rs. 10/- each |
Rs. 7.834
Million |
|
1,251,204 |
Preference Shares |
Rs. 10/- each |
Rs. 12.512
Million |
|
|
Total |
|
Rs. 20.346 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 |
20.346 |
20.346 |
21.191 |
|
(b) Reserves & Surplus |
516.613 |
336.800 |
303.686 |
|
(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) |
536.959 |
357.146 |
324.877 |
|
|
|
|
|
|
(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 |
4.816 |
3.923 |
3.346 |
|
Total
Non-current Liabilities (3) |
4.816 |
3.923 |
3.346 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
75.926 |
70.287 |
42.779 |
|
(c)
Other current liabilities |
15.979 |
12.207 |
24.466 |
|
(d)
Short-term provisions |
2.130 |
1.663 |
1.468 |
|
Total
Current Liabilities (4) |
94.035 |
84.157 |
68.713 |
|
|
|
|
|
|
TOTAL |
635.810 |
445.226 |
396.936 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4.282 |
5.132 |
6.710 |
|
(ii)
Intangible Assets |
5.877 |
8.117 |
6.752 |
|
(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 |
0.694 |
0.644 |
0.644 |
|
(c) Deferred tax assets
(net) |
7.921 |
3.867 |
2.274 |
|
(d) Long-term Loan and
Advances |
6.208 |
7.740 |
10.039 |
|
(e)
Other Non-current assets |
51.730 |
114.373 |
86.854 |
|
Total
Non-Current Assets |
76.712 |
139.873 |
113.273 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
173.850 |
75.000 |
9.999 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
91.141 |
93.825 |
60.047 |
|
(d)
Cash and cash equivalents |
202.001 |
88.872 |
104.673 |
|
(e)
Short-term loans and advances |
5.164 |
3.556 |
43.714 |
|
(f)
Other current assets |
86.942 |
44.100 |
65.230 |
|
Total
Current Assets |
559.098 |
305.353 |
283.663 |
|
|
|
|
|
|
TOTAL |
635.810 |
445.226 |
396.936 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
619.239 |
465.180 |
475.350 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
297.080 |
328.190 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(Including
Depreciation Expenses) |
168.100 |
147.160 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
5.630 |
2.510 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
162.470 |
144.650 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
50.520 |
42.360 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
179.813 |
111.950 |
102.290 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of services at FOB value |
95.586 |
43.935 |
7.540 |
|
|
|
Interest received from loan |
0.053 |
0.829 |
0.000 |
|
|
TOTAL EARNINGS |
95.639 |
44.764 |
7.540 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
88.38 |
55.02 |
48.27 |
|
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 |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
29.04 |
24.07 |
21.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
36.87 |
36.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.45 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.95 |
3.63 |
4.13 |
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 |
21.191 |
20.346 |
20.346 |
|
Reserves & Surplus |
303.686 |
336.800 |
516.613 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
324.877 |
357.146 |
536.959 |
|
|
|
|
|
|
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) |
|
Total Revenue |
475.350 |
465.180 |
619.239 |
|
|
|
(2.139) |
33.118 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Revenue |
475.350 |
465.180 |
619.239 |
|
Profit |
102.290 |
111.950 |
179.813 |
|
|
21.52% |
24.07% |
29.04% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
No |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CORPORATE
INFORMATION:
The company is primarily engaged in providing mobile value added
services (VAS) through telecom consumer base in India and worldwide including
game download and subscription based services.
RESULTS OF OPERATIONS:
During the year, the company has registered a total revenue of Rs.
619.239 Million (Previous Year Rs. 445.285 Million) showing an upward movement
in the operations of the Company as against total overheads of Rs. 375.124
Million (Previous Year Rs. 302.709 Million). During the financial year, the
company has embarked a Profit of Rs. 179.813 Million (Previous Year Rs. 111.948
Million)
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer
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 records 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. 66.84 |
|
|
1 |
Rs. 100.58 |
|
Euro |
1 |
Rs. 73.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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.