MIRA INFORM REPORT
|
Report No. : |
309426 |
|
Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
MULTI SCREEN MEDIA PRIVATE LIMITED (w.e.f. 21.11.2007) |
|
|
|
|
Formerly Known
As : |
SET INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Interface, Building No.7, Off |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
18.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-111487 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.91.390
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92100MH1995PTC111487 |
|
|
|
|
IEC No.: |
0395043280 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS19106D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS1728D FT001 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged primarily in sourcing content for its subsidiary MSM Satellite. |
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|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behavior: |
Usually correct |
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|
|
|
Litigation : |
Exists |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. There seems some continuous dip in the turnover and profit and of the
company however net worth of the company is satisfactory. General financial
position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Bhavesh |
|
Designation : |
Assistant Manager Finance |
|
Contact No.: |
91-22-67081111 |
|
Date : |
23.02.2015 |
LOCATIONS
|
Registered/
Corporate Office : |
4th Floor, Interface Building No. 7, off Malad Link Road, Malad West,
Mumbai- 400064, Maharashtra, India |
|
Tel. No.: |
91-22-67081111 |
|
Fax No.: |
91-22-66434748 |
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E-Mail : |
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|
Website : |
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|
Head Office: |
3th Floor, Interface Building No. 7, off Malad Link Road, Malad West,
Mumbai- 400064, Maharashtra, India |
DIRECTORS
As on: 27.08.2014
|
Name : |
Mr. Andrew Jay Kaplan |
|
Designation : |
Director |
|
Address : |
13225 Old Oak Lane, Los Angeles, California 90049 USA |
|
Date of Birth/Age : |
02.11.1960 |
|
Date of Appointment : |
25.09.2003 |
|
Din No.: |
01532580 |
|
|
|
|
Name : |
Mr. George Chien |
|
Designation : |
Director |
|
Address : |
6440 West, |
|
Date of Birth/Age : |
09.07.1972 |
|
Date of Appointment : |
30.11.2010 |
|
Din No.: |
03101431 |
|
|
|
|
Name : |
Mr. Man Jit Singh |
|
Designation : |
Director |
|
Address : |
1050, Brooklawn Drive, Los Angeles, California, 90077 USA |
|
Date of Birth/Age : |
01.03.2014 |
|
Date of Appointment : |
27.12.1956 |
|
Din No.: |
01646045 |
KEY EXECUTIVES
|
Name : |
Mr. Bhavesh |
|
Designation : |
Assistant Manager Finance |
|
|
|
|
Name : |
Mr. Rajkumar Shyamlal Bidawatka |
|
Designation : |
Company Secretary |
|
Address : |
C 302, D Plot, Rock Avenue, Opposite Joy Ice-Cream, Near Hindustan Naka,
Kandivali West, Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
10.05.1968 |
|
Date of Appointment : |
19.07.2007 |
|
PAN No.: |
AAIPB4224H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
SPE Mauritius Holdings Limited, |
|
4569289 |
|
SPE Mauritius investments Limited, Mauritius |
|
4569289 |
|
SPE Singapore Holdings, Inc |
|
1 |
|
Total |
|
9138579 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.08.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged primarily in sourcing content for its subsidiary MSM Satellite. |
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Products : |
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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 : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
50 (Approximately) |
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Bankers : |
|
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|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400025,
Maharashtra, India |
|
PAN No: |
AAEFP3641G |
|
|
|
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Memberships : |
-- |
|
|
|
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Collaborators : |
Not Available |
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Shareholders having significant influence: |
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Subsidiaries : |
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Common Control Entities: |
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CAPITAL STRUCTURE
As on 27.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9138579 |
Equity Shares |
Rs.10/- each
|
Rs.91.385
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 |
91.390 |
91.390 |
91.390 |
|
(b) Reserves & Surplus |
14722.910 |
14379.600 |
13356.750 |
|
(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) |
14814.300 |
14470.990 |
13448.140 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
10061.520 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
169.320 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
99.900 |
125.160 |
126.130 |
|
(d) long-term
provisions |
961.780 |
749.070 |
629.880 |
|
Total Non-current
Liabilities (3) |
11292.520 |
874.230 |
756.010 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3710.870 |
0.000 |
0.000 |
|
(b) Trade
payables |
4973.120 |
1036.870 |
2112.010 |
|
(c) Other
current liabilities |
1884.430 |
3415.800 |
2364.470 |
|
(d) Short-term
provisions |
613.470 |
15.020 |
51.450 |
|
Total Current
Liabilities (4) |
11181.890 |
4467.690 |
4527.930 |
|
|
|
|
|
|
TOTAL |
37288.710 |
19812.910 |
18732.080 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
330.900 |
283.590 |
246.720 |
|
(ii)
Intangible Assets |
712.790 |
50.970 |
29.620 |
|
(iii)
Capital work-in-progress |
46.410 |
59.270 |
85.390 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
17.280 |
16277.700 |
8155.200 |
|
(c) Deferred tax assets (net) |
264.040 |
223.150 |
165.620 |
|
(d) Long-term Loan and Advances |
258.430 |
97.170 |
292.070 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1629.850 |
16991.850 |
8974.620 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
8672.150 |
1.460 |
14.930 |
|
(c) Trade
receivables |
5781.460 |
739.870 |
6581.670 |
|
(d) Cash
and cash equivalents |
1082.600 |
1262.390 |
869.290 |
|
(e)
Short-term loans and advances |
383.620 |
58.080 |
2207.370 |
|
(f) Other
current assets |
19739.030 |
759.260 |
84.200 |
|
Total
Current Assets |
35658.860 |
2821.060 |
9757.460 |
|
|
|
|
|
|
TOTAL |
37288.710 |
19812.910 |
18732.080 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Turnover) |
6399.770 |
9657.660 |
15210.540 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1419.260 |
1875.160 |
2974.480 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
161.050 |
117.080 |
86.290 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
1258.210 |
1758.080 |
2888.190 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
482.150 |
735.230 |
1567.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
776.060 |
1022.850 |
1320.300 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4530.160 |
3507.310 |
2187.011 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5306.220 |
4530.160 |
3507.311 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
5957.800 |
8897.020 |
13227.260 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
84.92 |
111.93 |
144.48 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
12.13 |
10.59 |
8.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.40 |
54.05 |
27.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.12 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.93 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.19 |
0.63 |
2.15 |
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 |
91.390 |
91.390 |
91.390 |
|
Reserves & Surplus |
13356.750 |
14379.600 |
14722.910 |
|
Net worth |
13448.140 |
14470.990 |
14814.300 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
10061.520 |
|
Short term borrowings |
0.000 |
0.000 |
3710.870 |
|
Total borrowings |
0.000 |
0.000 |
13772.390 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.930 |
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) |
|
Turnover |
15210.540 |
9657.660 |
6399.770 |
|
|
|
(36.507) |
(33.734) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Turnover |
15210.540 |
9657.660 |
6399.770 |
|
Profit |
1320.300 |
1022.850 |
776.060 |
|
|
8.68% |
10.59% |
12.13% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
LITIGATION DETAILS
|
Case Details |
||||||||
|
Bench:- Bombay |
||||||||
|
Presentation Date:- |
29/07/2013 |
|||||||
|
Lodging No.:- |
ITXAL/1220/2013 |
Filing Date:- |
29/07/2013 |
Reg. No.:- |
ITXA/2057/2013 |
Reg. Date:- |
22/10/2013 |
|
|
Petitioner:- |
COMMISSIONER OF INCOME TAX, CENTRAL – II, MUMBAI |
Respondent:- |
MULTI SCREEN MEDIA PRIVATE LIMITED |
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|
Petn.Adv:- |
A R Malhotra (0) |
Resp. Adv.: |
PPDS LEGAL (0) |
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|
District:- |
MUMBAI |
|||||||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
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|
Next Date:- |
30.03.2015 |
Stage:- |
||||||
|
Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
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|
Act :- |
Income Tax Act, 1961 |
Under Section 260A |
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GENERAL:
During its Nineteenth year of operations in the financial year 2013-14, the Company recorded a turnover of Rs. 6,399.770 million as compared to Rs. 9,657.660 million during the previous year. Net profit after tax was Rs. 776.060 million for the year as against a net profit after tax of Rs. 1,022.850 million in the previous year
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loan from related party |
10061.520 |
0.000 |
|
Short-term
borrowings |
|
|
|
Loan from Banks |
3710.870 |
0.000 |
|
|
|
|
|
Total |
13772.390 |
0.000 |
CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:
|
Particulars |
|
31.03.2014 Rs. In Millions |
|
Guarantees issued on behalf of others |
|
170.000 |
|
Claims against the Company not acknowledge
as debts ** |
|
5550.570 |
|
Custom Duty Matters |
|
145.620 |
|
Income Tax Matters |
|
4969.050 |
|
Sales Tax Matters |
|
262.820 |
|
Service Tax Matters |
|
109.700 |
|
Total |
|
11207.830 |
Note:
Future cash flow in respect of above, if any, is determinable only on receipt of judgments/decisions pending with the relevant authorities.
***Includes Rs. 2364.160 million (USD 39.47 million) pertaining to broadcasting business of MSM Satellite (Singapore) Private Limited transferred to the Company pursuant to Scheme of Demerger
*** Claims against the Company not acknowledged as debts includes the following –
***A claim of Rs. 1000.000 million raised by Saregama Private Limited on the Company, Balaji Telefilms Private Limited and Others.
***A claim of Rs. 1000.000 million raised by Speak Asia Private Limited on the Company, MSM Satellite Singapore Private Limited, Hats Off Productions Private Limited and Others.
***Legal Proceedings between MSM Satellite (Singapore)
Private Limited and World Sport Group (Mauritius) Limited
NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS:
- Computer Software
- Leasehold Improvements
- Plant and Machinery
- Motor Vehicle
- Furniture and Fixture
- Office Equipment’s
- 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 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.62.28 |
|
|
1 |
Rs.96.20 |
|
Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
YES |
|
--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 |
|
45 |
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.