MIRA
INFORM REPORT
|
Report No. : |
305529 |
|
Report Date : |
01.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
IL AND FS EDUCATION AND TECHNOLOGY SERVICES LIMITED |
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Registered
Office : |
3rd Floor, Quadrant ‘D’, The IL and FS Financial Centre,
Plot C-22, G-Block, Bandra-Kurla Complex, Mumbai – 400051, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.12.1997 |
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Com. Reg. No.: |
11-112535 |
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Capital
Investment / Paid-up Capital : |
Rs.375.341 Millions |
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CIN No.: [Company Identification
No.] |
U80220MH1997PLC112535 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUM105436E |
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PAN No.: [Permanent Account No.] |
AABCI2106H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subjects is to carry out operations in the field of education and technology. The Company’s operations include computer aided learning, multi-media syllabus based content, teacher training, vocational skills, English language training, and soft skills trainings. The Company is also engaged in trading of technology and educational products and also setting up of integrated technology based solutions. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is decent. Trade relations are 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.
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
31-03-2014.
INFORMATION DENIED
Management Non-Cooperative (91-22-67809292)
LOCATIONS
|
Registered Office : |
3rd Floor, Quadrant ‘D’, The IL and FS Financial Centre,
Plot C-22, G-Block, Bandra-Kurla Complex, Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-67809292 |
|
Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 21.08.2014
|
Name : |
Mr. Hari Sankaran |
|
Designation : |
Director |
|
Address : |
29 B, |
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Date of Birth/Age : |
19.02.1961 |
|
Date of Appointment : |
30.09.2010 |
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DIN No.: |
00002386 |
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Name : |
Mr. Ravi Ramaswamy Parthasarathy |
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Designation : |
Director |
|
Address : |
1201/1202, Vinayak Angan, 12th Floor, Near Bengal Chemicals,
Opposite V.I.P Lounge, Old Prabhadevi Road, Mumbai – 400018, Maharashtra,
India/ |
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Date of Birth/Age : |
04.10.1952 |
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Date of Appointment : |
12.01.1998 |
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DIN No.: |
00002392 |
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Name : |
Mr. Ramireddy Chandra Mowleeswar Reddy |
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Designation : |
Managing Director |
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Address : |
186, 1st Floor, Munrika Enclave, Opposite Vasant Vihar
Police Station, |
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Date of Birth/Age : |
20.10.1963 |
|
Date of Appointment : |
21.01.2013 |
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DIN No.: |
00060073 |
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PAN No.: |
ACBPR7298E |
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Name : |
Mr. Sudhir Gunvantray Mankad |
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Designation : |
Director |
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Address : |
Plot No. 192, Sector 8-C, Gandhinagar – 382007, |
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Date of Birth/Age : |
05.08.1947 |
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Date of Appointment : |
05.08.2008 |
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DIN No.: |
00086077 |
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Name : |
Mr. Alok Bhupendranath Bhargava |
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Designation : |
Director |
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Address : |
B-1201, Gulmohar Aprtments, Ceaser Road, Amboli, Andheri (West),
Mumbai – 400048, Maharashtra, India |
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Date of Birth/Age : |
23.11.1961 |
|
Date of Appointment : |
01.04.2007 |
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DIN No.: |
00162746 |
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Name : |
Mr. Arvind Inder Malhotra |
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Designation : |
Director |
|
Address : |
Plot No. 655, Shreenathji, Flat No. 703, 7th Floor, 16th
|
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Date of Birth/Age : |
25.01.1947 |
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Date of Appointment : |
19.01.1998 |
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DIN No.: |
01312057 |
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Name : |
Mr. Kumar Krishnan Iyer |
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Designation : |
Nominee Director |
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Address : |
Flat No. 2002, 20th Floor, Odyssey II, |
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Date of Birth/Age : |
28.05.1962 |
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Date of Appointment : |
29.01.2010 |
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DIN No.: |
01865617 |
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Name : |
Mr. Pranay Shailesh Adhvaryu |
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Designation : |
Nominee Director |
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Address : |
23, Chola Building, Model Town, Near Four Bungalows, Andheri (West),
Mumbai – 400053, Maharashtra, India |
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Date of Birth/Age : |
06.01.1983 |
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Date of Appointment : |
13.09.2013 |
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DIN No.: |
03384491 |
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Email : |
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Name : |
Archana Niranjan Hingorani |
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Designation : |
Director |
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Address : |
10, Jeevan Dhara, Dr. Ambedkar Raod, Bandra West, Mumbai – 400050,
Maharashtra, India |
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Date of Birth/Age : |
09.09.1965 |
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Date of Appointment : |
05.08.2014 |
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DIN No.: |
00028037 |
KEY EXECUTIVES
|
Name : |
Daisy Khanna |
|
Designation : |
Company Secretary |
|
Address : |
100, SFS Flats, Rajouri Apartments, Rajouri Garden, New Delhi, India |
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Date of Birth/Age : |
11.08.1978 |
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Date of Appointment : |
29.07.2013 |
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PAN No.: |
AKZPK7280R |
MAJOR SHAREHOLDERS
As on 21.08.2014
SHAREHOLDERS FILE
ATTACHED
As on 21.08.2014
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 |
26.12 |
|
Bodies corporate |
73.70 |
|
Other top fifty shareholders |
0.18 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subjects is to carry
out operations in the field of education and technology. The Company’s
operations include computer aided learning, multi-media syllabus based
content, teacher training, vocational skills, English language training, and
soft skills trainings. The Company is also engaged in trading of technology
and educational products and also setting up of integrated technology based
solutions. |
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|
|
|
Products : |
Not Available |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Financial Institution: |
·
Infrastructure Leasing And Financial Services
Limited, The Il &Fs Finanacial Centreplot No C-22 G Block, Bandra-Kurla
Complex, Mumbai – 400051, Maharashtra, India ·
Il & Fs Trust Company Limited, Il & Fs
Financial Centreplot No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai
– 400051, Maharashtra, India |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
7th Floor, Building 10, Tower B, DLF Cyber, City Complex, DLF City, Phase II , Gurgaon-122002, Haryana, India |
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PAN No.: |
AABFD2095B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company
: |
· Infrastructure Leasing and Financial Services Limited |
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Subsidiary
Company : |
· IL and FS Cluster Development Initiative Limited · IL and FS Skills Development Corporation Limited |
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Fellow Subsidiary Company: |
· IL And Fs Securities Services Limited · Skill Training Assessment Management Partners Limited · Issl Cpg Bpo Private Limited · ILand Fs Financial Services Limited · ILand Fs Transportation Networks Limited · Noida Toll Bridge Company Limited · IL and Fs Trust Company Limited · IL and Fs Energy Development Company Limited · IL and Fs TamIL Nadu Power Company Limited · IL and Fs Investment Managers Limited · IL and Fs Township and Urban Assets Limited · Nana Layja Power Company Limited · Sealand Ports Private Limited · IL and Fs Maritime Infrastructure Company Limited ·
IL and Fs Technologies Limited |
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Other Related
Parties : |
· Bihar e-Governance Services and Technologies Limited, India · Jharkhand e-Governance Solutions and Services Limited, India · IL and FS Technologies Limited, India · Karnataka Enterprise Solutions Limited, India · Odisha e-Governance Services Limited, India ·
Bihar Power Infrastructure Company Private
Limited, India |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/-each |
Rs.750.000 Millions |
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37534146 |
Equity Shares |
Rs.10/-each |
Rs.375.341
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
375.341 |
375.341 |
375.341 |
|
(b) Reserves &
Surplus |
1730.280 |
1589.771 |
1428.887 |
|
(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) |
2105.621 |
1965.112 |
1804.228 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
675.520 |
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 |
6.628 |
5.890 |
7.904 |
|
Total Non-current
Liabilities (3) |
682.148 |
5.890 |
7.904 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1371.418 |
2107.452 |
790.660 |
|
(b) Trade payables |
3391.402 |
664.239 |
1112.784 |
|
(c) Other current
liabilities |
1131.061 |
231.175 |
127.133 |
|
(d) Short-term provisions |
152.790 |
4.365 |
179.768 |
|
Total Current Liabilities
(4) |
6046.671 |
3007.231 |
2210.345 |
|
|
|
|
|
|
TOTAL |
8834.440 |
4978.233 |
4022.477 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
51.243 |
54.193 |
219.916 |
|
(ii) Intangible Assets |
79.635 |
119.026 |
99.318 |
|
(iii) Capital
work-in-progress |
82.316 |
18.223 |
1.794 |
|
(iv) Intangible assets
under development |
57.060 |
5.983 |
6.983 |
|
(b) Non-current
Investments |
747.491 |
695.938 |
658.135 |
|
(c) Deferred tax assets
(net) |
63.800 |
70.900 |
42.900 |
|
(d) Long-term Loan and Advances |
169.713 |
188.581 |
99.236 |
|
(e) Other Non-current
assets |
2992.598 |
1129.379 |
1100.845 |
|
Total Non-Current Assets |
4243.856 |
2282.223 |
2229.127 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
190.326 |
100.484 |
43.735 |
|
(c) Trade receivables |
1304.088 |
1523.287 |
993.632 |
|
(d) Cash and cash
equivalents |
710.976 |
15.652 |
89.828 |
|
(e) Short-term loans and
advances |
152.455 |
321.018 |
219.078 |
|
(f) Other current assets |
2232.739 |
735.569 |
447.077 |
|
Total Current Assets |
4590.584 |
2696.010 |
1793.350 |
|
|
|
|
|
|
TOTAL |
8834.440 |
4978.233 |
4022.477 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
6255.935 |
2457.807 |
3442.773 |
|
|
Other Income |
19.831 |
161.407 |
2.176 |
|
|
TOTAL |
6275.766 |
2619.214 |
3444.949 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
1485.680 |
|
|
Purchases of
Stock-in-Trade |
137.452 |
810.168 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(82.793) |
(57.120) |
2.579 |
|
|
Employees benefits
expense |
276.323 |
195.861 |
264.311 |
|
|
Other expenses |
5044.611 |
1145.725 |
1134.165 |
|
|
TOTAL |
5375.593 |
2094.634 |
2886.735 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
|
900.173 |
524.580 |
558.214 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
405.073 |
254.932 |
91.160 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
495.100 |
269.648 |
467.054 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
75.940 |
101.545 |
97.910 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
419.160 |
168.103 |
369.144 |
|
|
|
|
|
|
|
Less |
TAX |
126.994 |
26.528 |
116.122 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
292.166 |
141.575 |
253.022 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
7.78 |
3.77 |
6.74 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
4.67
|
5.76 |
7.34 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
14.38
|
21.34 |
16.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.32 |
4.01 |
11.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.09 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.97 |
1.07 |
0.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76 |
0.90 |
0.81 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
375.341 |
375.341 |
375.341 |
|
Reserves & Surplus |
1428.887 |
1589.771 |
1730.280 |
|
Net worth |
1804.228 |
1965.112 |
2105.621 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
675.520 |
|
Short term borrowings |
790.660 |
2107.452 |
1371.418 |
|
Total borrowings |
790.660 |
2107.452 |
2046.938 |
|
Debt/Equity ratio |
0.438 |
1.072 |
0.972 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
3442.773 |
2457.807 |
6255.935 |
|
|
|
(28.610) |
154.533 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
3442.773 |
2457.807 |
6255.935 |
|
Profit |
253.022 |
141.575 |
292.166 |
|
|
7.35% |
5.76% |
4.67% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
(Rs.
In Millions)
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
520.180 |
0.000 |
0.000 |
|
Total |
520.180 |
0.000 |
0.000 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
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 |
No |
|
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 |
Background
IL&FS Education & Technology Services Limited was incorporated on December 18, 1997 under the provisions of the Companies Act, 1956 with the primary objective to carry out operations in the field of education and technology. The Company?s operations include computer aided learning, multi-media syllabus based content, teacher training, vocational skills, English language training, and soft skills trainings. The Company is also engaged in trading of technology and educational products and also setting up of integrated technology based solutions.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10543952 |
15/01/2015 |
1,500,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
C40867947 |
|
2 |
10526728 |
17/10/2014 |
1,500,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
C30344006 |
|
3 |
10525910 |
25/09/2014 |
250,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA , KURLA COMPLEX BANDRA EAST,
MUMBAI, Maharashtra |
C29672870 |
|
4 |
10485187 |
11/03/2014 |
3,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA , KURLA COMPLEX BANDRA EAST, MUMBAI,
Maharashtra |
C00602409 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Other Loans and Advances |
650.000 |
145.302 |
|
Total |
650.000 |
145.302 |
FIXED ASSETS
· Data Processing Equipment
· Office Equipment
· Mobile Phones
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.61.73 |
|
|
1 |
Rs.92.70 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--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 |
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.