MIRA INFORM REPORT
|
Report Date : |
03.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE HOME FINANCE LIMITED |
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Formerly Known
As : |
RELIANCE HOME FINANCE PRIVATE LIMITED (w.e.f. 26.03.2009) RELIANCE HOMES FINANCE PRIVATE LIMITED |
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Registered
Office : |
570, Rectifier House, 3rd Floor, |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
05.06.2008 |
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Com. Reg. No.: |
11-183216 |
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Capital
Investment / Paid-up Capital : |
Rs. 658.200 Millions |
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CIN No.: [Company Identification
No.] |
U67190MH2008PLC183216 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECR0305E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is Principally Engaged in Housing Finance Business. |
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No. of Employees
: |
Information Denied by Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Reliance Capital Limited”. It is a
well-established company having fine track record. The rating reflects company’s sound finance risk profile marked by diversified
presence across the financial services domain and adequate capitalization of
the company. Further company also gets good financial and managerial support from
parent company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. In view of strong holding support, the company can be considered good
for normal 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 |
CRISIL |
|
Rating |
Short term debt Programme: ‘A1+” |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
12.06.2014 |
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
31-03-2014.
INFORMATION DECLINED
Management Non-cooperative. (Tel. No.: 91-22-30479531)
LOCATIONS
|
Registered Office : |
570, Rectifier House, 3rd Floor, Naigaum Cross Road,
Wadala, Mumbai – 400031, Maharashtra, India |
|
Tel. No.: |
91-22-30479531 / 30479450 |
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Fax No.: |
91-22-30479450 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on: 25.09.2014
|
Name : |
Mr. Padmanabh Pundrikray Vora |
|
Designation : |
Director |
|
Address : |
Flat No. 503 – 504, 5th Floor, A Wing, Mount Everest Tower,
Bhakti Park, Wadala – (East), Mumbai – 400037, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1943 |
|
Date of Appointment : |
01.07.2008 |
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DIN No.: |
00003192 |
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Name : |
Mr. Gautam Bhailal Doshi |
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Designation : |
Director |
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Address : |
402, Hamilton Court Tagore Road, Santacruz – (West), Mumbai – 400054,
Maharashtra, India |
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Date of Birth/Age : |
23.12.1952 |
|
Date of Appointment : |
01.07.2008 |
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DIN No.: |
00004612 |
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Name : |
Mr. Soumen Ghosh |
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Designation : |
Director |
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Address : |
1501, Lodha Aria 6/207 Tokersey Jivraj, Road, Sewree, Mumbai – 400015,
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Date of Birth/Age : |
08.06.1959 |
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Date of Appointment : |
01.07.2008 |
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DIN No.: |
01262099 |
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Name : |
Mr. Srinivasan Venkateswaran Krishnan |
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Designation : |
Additional director |
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Address : |
Flat no.1601, B Wing, 16 Floor, Dosti Elite Metal Rolling Compound,
Near sion Tele Exchange, Sion (East), Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1965 |
|
Date of Appointment : |
28.04.2012 |
|
DIN No.: |
01827316 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Kumar Kunnath |
|
Designation : |
Manager |
|
Address : |
Raheja Heights C Wing Flat No. 83, Nagar Niwaea Parishad, Goregaon –
(East), Mumbai – 400097, Maharashtra, India |
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Date of Birth/Age : |
16.05.1968 |
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PAN No : |
ALOPS5878D |
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Date of Appointment : |
28.04.2012 |
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|
Name : |
Mr. Neena Ulhas Parelkar |
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Designation : |
Secretary |
|
Address : |
B/202, Raj Anand D D Borge Lane, Eksar Road, Borivali – (West), Mumbai
– 400091, Maharashtra, India |
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PAN No : |
AKUPP4102G |
|
Date of Appointment : |
01.05.2012 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Chetan Raval jointly with Reliance capital limited |
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2 |
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Yogesh deshpande jointly with reliance capital limited |
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2 |
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Atul Tandon jointly with reliance capital limited |
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2 |
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Parul Jain jointly with reliance capital limited |
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2 |
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Kanam Cheittar jointly with reliance capital limited |
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2 |
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Madan Chaturvedi jointly with reliance capital limited |
|
10 |
|
Reliance capital Limited |
|
65819980 |
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|
|
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Total |
|
65820000 |
Equity Share Break up (Percentage of Total Equity)
As on: 20.07.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is Principally Engaged in Housing Finance Business. |
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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 : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information Denied by Management |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Finance Institutions: |
IDBI Trusteeship Services Limited, Asian Bldg., Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
Chaturvedi and Shah Chartered Accountants |
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Address : |
714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021,
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PAN No.: |
AAAFC0662N |
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Ultimate Holding Company : (31.03.2011) |
Reliance Innoventures Private Limited
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Holding company : (31.03.2011) |
Reliance Capital Limited |
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Fellow Subsidiary : (31.03.2011) |
Reliance General Insurance Company |
CAPITAL STRUCTURE
As on: 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs. 750.000 Millions |
|
50000000 |
Preference Shares |
Rs. 10/- each |
Rs. 500.000 Millions |
|
|
Total |
|
Rs. 1250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65820000 |
Equity Shares |
Rs.10/- each |
Rs. 658.200
Millions |
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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 |
658.200 |
658.200 |
329.100 |
|
(b) Reserves & Surplus |
3984.796 |
3550.906 |
3608.499 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds (1) + (2) |
4642.996 |
4209.106 |
3937.599 |
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|
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(3)
Non-Current Liabilities |
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|
|
|
(a)
long-term borrowings |
21692.286 |
19152.091 |
18424.089 |
|
(b) Deferred tax
liabilities (Net) |
54.295 |
49.050 |
38.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
165.121 |
129.275 |
99.706 |
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Total
Non-current Liabilities (3) |
21911.702 |
19330.416 |
18561.795 |
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(4) Current Liabilities |
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|
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(a)
Short term borrowings |
2076.312 |
244.168 |
443.125 |
|
(b)
Trade payables |
14.679 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
8751.594 |
5737.132 |
2772.769 |
|
(d)
Short-term provisions |
51.719 |
14.185 |
4.237 |
|
Total
Current Liabilities (4) |
10894.304 |
5995.485 |
3220.131 |
|
|
|
|
|
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TOTAL |
37449.002 |
29535.007 |
25719.525 |
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II.
ASSETS |
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(1) Non-current assets |
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|
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.646 |
0.656 |
0.655 |
|
(ii)
Intangible Assets |
0.214 |
1.797 |
3.378 |
|
(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 |
0.000 |
137.571 |
137.571 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
26440.864 |
24826.464 |
22806.447 |
|
(e)
Other Non-current assets |
667.927 |
956.671 |
785.473 |
|
Total
Non-Current Assets |
27109.651 |
25923.159 |
23733.524 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
3200.000 |
0.000 |
250.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
0.000 |
0.000 |
3.326 |
|
(d)
Cash and cash equivalents |
2012.718 |
709.417 |
495.499 |
|
(e)
Short-term loans and advances |
4806.973 |
2666.678 |
1013.935 |
|
(f)
Other current assets |
319.660 |
235.753 |
223.241 |
|
Total
Current Assets |
10339.351 |
3611.848 |
1986.001 |
|
|
|
|
|
|
TOTAL |
37449.002 |
29535.007 |
25719.525 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4228.242 |
3555.944 |
3391.368 |
|
|
|
Other Income |
68.870 |
62.230 |
0.182 |
|
|
|
TOTAL (A) |
4297.112 |
3618.174 |
3391.550 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
334.161 |
275.027 |
256.657 |
|
|
|
Other expenses |
530.850 |
379.048 |
411.430 |
|
|
|
TOTAL (B) |
865.011 |
654.075 |
668.087 |
|
|
|
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3432.101 |
2964.099 |
2723.463 |
|
|
|
|
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|
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|
Less |
FINANCIAL
EXPENSES (D) |
2769.773 |
2542.231 |
2325.249 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
662.328 |
421.868 |
398.214 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.877 |
1.631 |
1.606 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
660.451 |
420.237 |
396.608 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
226.561 |
145.409 |
132.075 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
433.890 |
274.828 |
264.533 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.59 |
4.26 |
4.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
10.26 |
7.73 |
7.80 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
81.17 |
83.36 |
80.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.76 |
1.43 |
1.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.10 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.12 |
4.61 |
4.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95 |
0.60 |
0.62 |
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 |
329.100 |
658.200 |
658.200 |
|
Reserves & Surplus |
3608.499 |
3550.906 |
3984.796 |
|
Net
worth |
3937.599 |
4209.106 |
4642.996 |
|
|
|
|
|
|
long-term borrowings |
18424.089 |
19152.091 |
21692.286 |
|
Short term borrowings |
443.125 |
244.168 |
2076.312 |
|
Total
borrowings |
18867.214 |
19396.259 |
23768.598 |
|
Debt/Equity
ratio |
4.792 |
4.608 |
5.119 |
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 |
3391.368 |
3555.944 |
4228.242 |
|
|
|
4.853 |
18.906 |
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 |
3391.368 |
3555.944 |
4228.242 |
|
Profit |
264.533 |
274.828 |
433.890 |
|
|
7.80% |
7.73% |
10.26% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current maturities of long-term debt |
6436.535 |
4312.400 |
2125.000 |
|
|
|
|
|
|
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
Long term
borrowings |
|
|
|
Non-convertible debentures others |
1480.000 |
1180.000 |
|
Commercial paper |
2076.311 |
244.168 |
|
|
|
|
|
Total |
3556.311 |
1424.168 |
FINANCIAL PERFORMANCE
AND REVIEW OF BUSINESS:
The Company's
gross income for the financial year ended March 31, 2014 increased to Rs.
4297.100 Millions from Rs.3618.200 Millions in the previous year recording a
growth of 18.76 per cent. The gross profit amounted to Rs.660.400 Millions
registering an increase of 57.16% against the previous year. Depreciation
increased minutely to Rs. 1.800 Millions. The provision for taxation during the
year was Rs.226.600 Millions. The net profit for the year was Rs.433.900
Millions. During the year, company did not declare any dividend.
An amount of Rs.
86.800 Millions was transferred to the Special Reserve Fund pursuant to section
29-C of the National Housing Bank Act, 1987, during the year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10539512 |
08/12/2014 |
1,000,000,000.00 |
Punjab and Sind Bank |
JK Somani Building, British Hotel Lane, Fort, Mumbai, Maharashtra -
400023, INDIA |
C38572624 |
|
2 |
10529284 |
20/10/2014 |
1,000,000,000.00 |
HDFC BANK LIMITED |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),, Mumbai,
Maharashtra - 400013, INDIA |
C32375610 |
|
3 |
10519542 |
02/07/2014 |
6,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg, Ground Floor, 17, R. Kamini Marg,, Ballard Estate, Mumbai,
Maharashtra - 400001, INDIA |
C19129683 |
|
4 |
10512506 |
27/03/2014 |
2,000,000,000.00 |
Bank of Baroda |
Corporate Finance Service Branch: 1st Floor,, 3, |
C14708812 |
|
5 |
10490509 |
25/03/2014 |
1,500,000,000.00 |
Andhra Bank |
Opera House Branch, Mama Paramanand Marg Queen's |
C03869625 |
|
6 |
10524147 |
24/03/2014 |
1,500,000,000.00 |
Syndicate Bank |
227, Nariman Bhavan, Ground Floor, Mumbai, Maharashtra - 400021, INDIA |
C24694051 |
|
7 |
10456381 |
30/09/2013 |
2,500,000,000.00 |
UNITED BANK OF INDIA |
Corporate Finance Branch, 25, Sir P. M. Road,, 2nd Floor, Fort,
Mumbai, Maharashtra - 400001, INDIA |
B88054127 |
|
8 |
10416253 |
29/03/2013 |
2,000,000,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, APPEJAY HOUSE, 130, DR |
B72143746 |
|
9 |
10402608 |
31/01/2013 |
3,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,,
Mumbai, Maharashtra - 400001, INDIA |
B67823724 |
|
10 |
10384865 |
28/09/2012 |
1,000,000,000.00 |
STATE BANK OF PATIALA |
Atlanta, First Floor, Nariman Point,, Mumbai, Maharashtra - 400021, INDIA |
B61519856 |
*Date of charge modification
FIXED ASSETS
- Land and Buildings
- Office equipment
- Computer equipment’s
- Other Equipments
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. 63.28 |
|
|
1 |
Rs. 98.38 |
|
Euro |
1 |
Rs. 76.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
64 |
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.