MIRA INFORM REPORT

 

 

Report No. :

326408

Report Date :

06.06.2015

 

IDENTIFICATION DETAILS

 

Name :

INDUSIND BANK LIMITED

 

 

Registered Office :

2401, Gen Thimmayya Road, Contonment, Pune – 411 001, Maharashtra

Tel. No.:

91-22-66412200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

31.01.1994

 

 

Com. Reg. No.:

11-076333

 

 

Capital Investment / Paid-up Capital :

Rs.5294.500 million

 

 

CIN No.:

[Company Identification No.]

L65191PN1994PLC076333

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMI04657C

MUMI03262A

PNEI00321G

MUMI04217D

MUMI04623D

MUMI02402B

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Public Limited Liability Bank. The Bank’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The Bank operates in four business segments, viz. Treasury, Corporate / Wholesale Banking, Retail Banking and Other Banking Operations.

 

 

No. of Employees :

Information declined by the Management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa (81)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a private sector bank, it commenced operations in 1994.

 

The bank has 801 branches and 1487 automatic teller machines. It has four divisions-corporate and commercial banking, consumer banking, global markets groups and transaction banking.

 

It is a well-established and reputed bank having fine track record.

 

The bank is progressing well. The overall financial position of the bank is good.

 

Company share are presently trading at market value of Rs.834.10/- which was initially issued at Face value of Rs.10/-.

 

Directors are reported as experienced and respectable businessmen.

 

Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitment.

 

The bank 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.

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Short Term Fixed Deposit Programme: A1+

Rating Explanation

Have very strong degree of safety and carry lowest credit risk.

Date

25.05.2015

 

 

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 31-03-2013.

 

INFORMATION DECLINED

 

Management non-cooperative

 

(Tel. No.: 91-22-66412200)

 

LOCATIONS

 

Registered Office :

2401 Gen Thimmayya Road, Contonment, Pune – 411 001, Maharashtra, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

companysecretary@indusind.com

Website :

http://www.indusind.com

 

Corporate Office :

8th Floor, Tower 1, One Indiabulls Centre, 841, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400 013, Maharashtra, India

Tel No.:

91-22-66412200

Fax N o.:

91-22-66412224

 

Branch  Network 1  :

Kolkata Stock Exchange Branch, 1 India Exchange Place, Kolkata – 700 001, West Bengal, India 

 

 

Branch  Network  :

Also located at:

 

·         Andhra Pradesh

·         Assam

·         Bihar

·         Chandigarh

·         Chattisgarh

·         Dadra and Nagar Haveli

·         Goa

·         Gujarat

·         Haryana

·         Himachal Pradesh

·         Jammu and Kashmir

·         Jharkhand

·         Karnataka

·         Kerala

·         Madhya Pradesh

·         Maharashtra

·         Mizoram

·         New Delhi

·         Orissa

·         Punjab

·         Rajasthan

·         Sikkim

·         Tamilnadu

·         Tripura

·         Union Territory

·         Uttar Pradesh

·         Uttaranchal

 

Overseas Branch Office :

Lactated at:

 

·         Dubai

·         London

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. R. Seshasayee

Designation :

Chairman

Qualification :

B. Com and ACA

 

Name :

Mr. Ajay Hinduja

Designation :

Director

 

Name :

Mr. S. C. Tripathi

Designation :

Director

 

Name :

Mr. Ashok Kini

Designation :

Director

 

Name :

Mrs. Kanchan Chitale

Designation :

Director

Qualification :

B. Com, FCA, Practicing Chartered Accountant 

 

Name :

Mr. Vijay Vaid

Designation :

Director

 

Name :

Mr. T. Anantha Narayanan

Designation :

Director

 

Name :

Mr. Romesh Sobti

Designation :

Managing Director and Chief Executive Officer

 

Name :

Mr. Y. M. Kale

Designation :

Alternate Director to Mr. Ajay Hinduja

 

 

KEY EXECUTIVES

 

Name :

Mr. Haresh K. Gajwani

Designation :

Company Secretary

 

Name :

Mr. Paul Abraham

Designation :

Chief Operating Officer

 

Name :

Mr. Suhail Chander

Designation :

Head - Corporate and Commercial Banking

 

Name :

Mr. Sumant Kathpalia

Designation :

Head - Consumer Banking

 

Name :

Mr. K.S. Sridhar

Designation :

Chief Risk Officer

 

Name :

Mr. Arun Khurana

Designation :

Head - Global Markets Group

 

Name :

Mr. S.V. Parthasarathy

Designation :

Head - Consumer Finance

 

Name :

Mr. Ramesh Ganesan

Designation :

Head - Transaction Banking

 

Name :

Mr. S.V. Zaregaonkar

Designation :

Chief Financial Officer

 

Name :

Mr. Sanjeev Anand

Designation :

Deputy Head - Corporate and Commercial Banking

 

Name :

Mr. Zubin Mody

Designation :

Head - Human Resources

 

Name :

Mr. Sanjay Mallik

Designation :

Head - Investor Relations and Strategy

 

Name :

Ms. Roopa Satish

Designation :

Head - Corporate, Institutions and Investment Banking

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Category of Shareholders

 

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

79899984

17.19

http://www.bseindia.com/include/images/clear.gifSub Total

79899984

17.19

Total shareholding of Promoter and Promoter Group (A)

79899984

17.19

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

39613937

8.52

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

1188611

0.26

http://www.bseindia.com/include/images/clear.gifCentral Government / State Government(s)

50

0.00

http://www.bseindia.com/include/images/clear.gifInsurance Companies

6852422

1.47

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

210236093

45.23

http://www.bseindia.com/include/images/clear.gifSub Total

257891113

55.49

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

64669997

13.91

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs.0.100 million

28408993

6.11

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs.0.100 million

8558991

1.84

http://www.bseindia.com/include/images/clear.gifQualified Foreign Investor

17767313

3.82

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

7571454

1.63

http://www.bseindia.com/include/images/clear.gifClearing Members

448792

0.10

http://www.bseindia.com/include/images/clear.gifOverseas Corporate Bodies

1477000

0.32

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

4809502

1.03

http://www.bseindia.com/include/images/clear.gifTrusts

735580

0.16

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

100580

0.02

http://www.bseindia.com/include/images/clear.gifSub Total

126976748

27.32

Total Public shareholding (B)

384867861

82.81

Total (A)+(B)

464767845

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

64682364

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

64682364

0.00

Total (A)+(B)+(C)

529450209

0.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Bank operates in four business segments, viz. Treasury, Corporate / Wholesale Banking, Retail Banking and Other Banking Operations.

 

 

Products/ Services :

Treasury, Corporate / Wholesale Banking, Retail Banking and Other Banking Operations

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality

Delivery Behaviour

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the Management.

 

 

Bankers :

Banker Name

Reserve Bank of India 

Branch Address

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

I Borrowings in India

 

 

i) Reserve Bank of India

550.000

0.000

ii) Other Banks

42613.042

30359.380

iii) Other Institutions and Agencies

58852.668

31918.459

iv) Unsecured Non-Convertible Redeemable Debentures/Bonds (Subordinated Tier-II Bonds)

7601.000

8101.000

v) Unsecured Non-Convertible Redeemable Non-Cumulative Subordinated Upper Tier II Bonds

3089.000

3089.000

II Borrowings outside India

34913.860

21127.722

Total

147619.570

94595.561

 

Banking Relations :

--

 

 

Auditors :

 

Name :

B S R and Co. LLP

Chartered Accountants

Address :

Lodha Excelus, 1st Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalakshmi, Mumbai – 400 011, Maharashtra, India

 

 

Solicitors :

 

Name :

Crawford Bayley and Company

Solicitors and Advocates

Address :

State Bank Building, NGN Vaidya Marg, Mumbai – 400 023, Maharashtra, India

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates (As on 31.03.2014) :

IndusInd Marketing and Financial Services Private Limited

 

Subsidiaries (As on 31.03.2014) :

ALF Insurance Services Private Limited (Under Liquidation)

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital : Not Available

 

Paid-up Capital : Rs.5294.500 million

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

550000000

Equity Shares

Rs.10/- each

Rs.5500.000 million

 

 

 

 

 

Issued, Subscribed & Called-up Capital :

No. of Shares

Type

Value

Amount

525446484

Equity Shares

Rs.10/- each

Rs.5254.465 million

 

 

 

 

 

Paid-up Capital :

No. of Shares

Type

Value

Amount

525446484

Equity Shares

Rs.10/- each

Rs.5254.465 million

 

Add: 384200 Forfeited Equity Shares

Rs.10/- each

Rs.1.921 million

 

Total

 

Rs.5256.386 million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

CAPITAL AND LIABILITIES

 

 

 

Capital

5294.500

5256.386

5228.698

Employee Stock Options Outstanding

140.500

110.196

107.119

Reserves and Surplus

101010.300

85063.042

70966.719

Deposits

741343.600

605022.853

541167.150

Borrowings

206180.600

147619.570

94595.561

Other Liabilities and Provisions

37189.700

27187.259

20999.907

TOTAL

1091159.200

870259.306

733065.154

ASSETS

 

 

 

Cash and Balances with Reserve Bank of India

40351.400

44139.156

32498.445

Balances with Banks and Money at Call and Short Notice

67440.000

23555.261

35988.879

Investments

248593.700

215629.530

196541.657

Advances

687882.000

551018.359

443206.100

Fixed Assets

11575.800

10164.472

7561.418

Other Assets

35316.300

25752.528

17268.655

TOTAL

1091159.200

870259.306

733065.154

 

 

 

 

Contingent Liabilities

NA

1478042.644

1349028.880

 

 

 

 

Bills for Collection

NA

57745.685

63375.073

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

INCOME

 

 

 

 

Interest Earned

96919.700

82535.344

69832.323

 

Other Income

24038.700

18905.290

13629.608

 

TOTAL

120958.400

101440.634

83461.931

 

EXPENDITURE

 

 

 

 

Interest Expended

62716.900

53628.213

47503.662

 

Operating Expenses

27259.300

21852.828

17563.627

 

Provisions and Contingencies

13045.000

11879.373

7782.814

 

TOTAL

103021.200

87360.414

72850.103

 

PROFIT

 

 

 

 

Net Profit for the year

17937.200

14080.220

10611.828

 

Profit brought forward

NA

17909.295

11875.901

 

TOTAL

NA

31989.515

22487.729

 

 

 

 

 

 

APPROPRIATIONS

Transfer to

 

 

 

 

a) Statutory Reserve

NA

3520.055

2652.957

 

b) Capital Reserve

NA

81.754

83.641

 

c) Investment Reserve Account

NA

0.745

4.031

 

d) Dividend (Proposed)

NA

1840.781

1570.860

 

e) Corporate Dividend Tax

NA

312.840

266.945

 

 

 

5756.175

4578.434

 

Balance transferred to Balance Sheet

NA

26233.340

17909.295

 

TOTAL

NA

31989.515

22487.729

 

EARNING PER EQUITY SHARE

(Face value of Rs.10/- per share) (Rs.)

 

 

 

 

Basic

33.99

26.85

21.83

 

Diluted

33.41

26.41

21.40

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash (used in) / generated from Operations

NA

(33265.164)

773.193

 

 

STOCK PRICES

 

Face Value

Rs.10/-

Market Value

Rs.834.10/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

83461.931

101440.634

120958.400

 

 

21.541

19.241

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

83461.931

101440.634

120958.400

Profit

10611.828

14080.220

17937.200

 

12.71%

13.88%

14.83%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

LITIGATION DETAILS:

 

Case Details

 

Bench:-Bombay

 

 

Presentation Date:-

13.06.2014

 

Lodging No.:-

ITXAL/1136/2014

Filing Date:-

13.06.2014

Reg. No.:-

ITXA/1080/2014

Reg. Date:-

04.07.2014

 

 

 

 

 

 

 

Petitioner:-

Commissioner of Income Tax-2

Respondent:-

THE INDUSIND BANK LIMITED

 

 

Petitioner Adv.:-

Suresh Kumar (I2100)

 

 

 

 

 

 

Resp. Adv.:-

Dave and Girish and Company (0)

 

District:-

Mumbai

 

 

 

 

 

Bench:-

Division

Status:-

Pre-Admission

Category:-

Tax Appeals

 

Next Date:-

19.06.2015

Stage:-

--

 

Coram:-

According to Sitting List

According to Sitting List

 

 

 

 

Act :-

Income Tax Act, 1961

 

Under Section:-

260A

 

 

CONTINGENT LIABILITIES

 

Particulars

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Claims against the Bank not acknowledged as debts

NA

5358.256

Liability on account of outstanding Forward Exchange Contracts

NA

784912.124

Liability on account of outstanding Derivatives Contracts

NA

453916.266

Guarantees given on behalf of constituents

 

 

- In India

NA

185023.314

- Outside India

NA

--

Acceptances, Endorsements and Other Obligations

NA

48832.684

Other Items for which the Bank is contingently liable

NA

--

Total

NA

1478042.644

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.63.90

UK Pound

1

Rs.97.98

Euro

1

Rs.71.82   

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

9

PAID-UP CAPITAL

1~10

9

OPERATING SCALE

1~10

9

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--PROFITABILITY

1~10

9

--LIQUIDITY

1~10

9

--LEVERAGE

1~10

9

--RESERVES

1~10

9

--CREDIT LINES

1~10

9

--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

 

81

 

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

 

--

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.