MIRA INFORM REPORT
|
Report No. : |
327207 |
|
Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
UBS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Level 2, 2, North Avenue, Maker Maxity, Bandra-Kurla Complex, Bandra
East Mumbai - 400051, Maharashtra |
|
Tel. No.: |
91-22-61556222/ 61556000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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|
Date of
Incorporation : |
26.08.1996 |
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|
|
|
Com. Reg. No.: |
11-102161 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2239.299 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH1996PTC102161 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU02557C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU4939M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in providing off shoring and IT Enabled services to UBS Group Entities. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8600000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behavior : |
Regular |
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|
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Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of “SWISS FINANCIAL CORPORATION (MATURITIUS)
LIMITED. It is an established company having fine track record. The company possesses healthy operational risk profile along with
healthy operating efficiencies and decent profitability margins of the
company. Rating also takes into consideration company’s and strong capital base
with zero debt balance sheet and strong financial as well as managerial
support that company receives from its holding company. Trade relations are reported as fair. Payments are reported to be
regular as per commitment. In view of adequate operational base backed by strong support from holding
company, 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.
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 |
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Kunal |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-61556222 |
|
Date : |
29.06.2015 |
LOCATIONS
|
Registered Office : |
Level 2, 2, North Avenue, Maker Maxity, Bandra-Kurla Complex, Bandra
East Mumbai - 400051, Maharashtra, India |
|
Tel. No.: |
91-22-61556222/ 61556000 |
|
Fax No.: |
91-22-61556300 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Anusha Suryanarayan Bhagat |
|
Designation : |
Director |
|
Address : |
Flat 12, 6th Floor, Beacon Building., 140, Madam Cama Road, Opposite Mantralaya, Mumbai – 40002, Maharashtra, India |
|
Date of Appointment : |
05.10.2007 |
|
DIN No.: |
02076326 |
|
|
|
|
Name : |
Mr. Derek Smith |
|
Designation : |
Director |
|
Address : |
Eichenweg 3, Zumikon, 8126, Switzerland |
|
Date of Appointment : |
02.02.2010 |
|
DIN No.: |
00615597 |
|
|
|
|
Name : |
Mr. Nerur Thiagarajan Arunkumar |
|
Designation : |
Director |
|
Address : |
L - 302 Atriun, 22 Kalakshetra, Road, Tiruvanmiyur, Chennai - 600041, Tamil Nadu, India |
|
Date of Appointment : |
03.05.2011 |
|
DIN No.: |
02407722 |
|
|
|
|
Name : |
Mr. Aashish Ramdas Kamat |
|
Designation : |
Director |
|
Address : |
Flat No.10, 5th Floor, Sorrento, Mount Pleasant Road, Mumbai - 400026, Maharashtra, India |
|
Date of Appointment : |
13.01.2012 |
|
DIN No.: |
06371682 |
|
|
|
|
Name : |
Mr. Andrew John Murfin |
|
Designation : |
Director |
|
Address : |
Unit B-84, Repulse Bay Road, Repulse Bay, Hong Kong |
|
Date of Appointment : |
10.09.2012 |
|
DIN No.: |
06453653 |
|
|
|
|
Name : |
Mr. Anubhav Agarwal |
|
Designation : |
Director |
|
Address : |
704, 17th Floor, Raheja, Classique, Tower 5, Oshiwara, Andheri (West), Mumbai – 400 053, Maharashtra, India |
|
Date of Appointment : |
16.09.2013 |
|
DIN No.: |
06711041 |
|
|
|
|
Name : |
Mrs. Nita Mirchandani |
|
Designation : |
Director |
|
Address : |
A702, Utpal Park Rang Udyan, Compound, Off. Sitladevi Temple, Road, Mahim, Mumbai – 400 016, Maharashtra, India |
|
Date of Appointment : |
14.10.2013 |
|
DIN No.: |
03268013 |
KEY EXECUTIVES
|
Name : |
Mr. Kunal |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Swiss Finance Corporation (Mauritius) Limited, Mauritius |
223929949 |
100.00 |
|
UBS AG, Switzerland |
1 |
0.00 |
|
Total |
223929950 |
100.00 |
%20PRIVATE%20LIMITED%20-%20329207%2029-Jun-2015_files/image013.gif)
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companies(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 in providing off shoring and IT Enabled services to UBS Group Entities. |
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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 : |
Not Divulged |
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 : |
Not Divulged |
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9180N |
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|
|
|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Ultimate Holding
Company : |
UBS AG, Switzerland |
|
|
|
|
Holding Company : |
Swiss Finance Corporation (Mauritius) Limited |
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|
Subsidiary Company
: |
UBS Securities India Private Limited, India [CIN No. U67120MH1996PTC097299] |
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|
Fellow subsidiary : |
UBS Securities LLC, U.K UBS Services LLC, U.K |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
260,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 2600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
223,929,950 |
Equity Shares |
Rs.10/- each |
Rs. 2239.299 Million |
|
|
|
|
|
ABRIDGED
BALANCE SHEET
FINANCIAL DATA
[all figures are
in Rupees Million]
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2239.299 |
2239.299 |
2239.299 |
|
(b) Reserves & Surplus |
791.155 |
408.469 |
244.152 |
|
(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) |
3030.454 |
2647.768 |
2483.451 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.220 |
1.427 |
1.129 |
|
Total Non-current
Liabilities (3) |
1.220 |
1.427 |
1.129 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
98.673 |
45.942 |
26.126 |
|
(d) Short-term
provisions |
23.275 |
5.654 |
4.944 |
|
Total Current
Liabilities (4) |
121.948 |
51.596 |
31.070 |
|
|
|
|
|
|
TOTAL |
3153.622 |
2700.791 |
2515.650 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
0.000 |
0.000 |
0.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
140.000 |
140.000 |
140.000 |
|
(c) Deferred tax assets (net) |
9.015 |
2.493 |
2.041 |
|
(d) Long-term Loan and Advances |
8.424 |
15.463 |
13.901 |
|
(e) Other
Non-current assets |
0.000 |
2341.554 |
0.000 |
|
Total Non-Current
Assets |
157.439 |
2499.510 |
155.942 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
102.313 |
61.275 |
61.598 |
|
(d) Cash
and cash equivalents |
2855.224 |
121.819 |
2206.585 |
|
(e) Short-term
loans and advances |
12.886 |
12.369 |
20.980 |
|
(f) Other
current assets |
25.760 |
5.818 |
70.545 |
|
Total
Current Assets |
2996.183 |
201.281 |
2359.708 |
|
|
|
|
|
|
TOTAL |
3153.622 |
2700.791 |
2515.650 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
TOTAL INCOME |
4966.007 |
2043.319 |
608.493 |
|
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
331.804 |
189.337 |
200.162 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4634.203 |
1853.982 |
408.331 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
90.899 |
79.664 |
75.761 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4543.304 |
1774.318 |
332.570 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
171.587 |
184.702 |
185.052 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Capital Redemption Reserve |
0.000 |
0.000 |
59.450 |
|
|
|
Transfer to General Reserve |
454.330 |
177.433 |
0.000 |
|
|
|
Interim Dividend Paid |
4160.618 |
1610.000 |
0.000 |
|
|
|
Premium on buyback of shares |
0.000 |
0.000 |
273.470 |
|
|
|
TOTAL |
4614.948 |
1787.433 |
332.920 |
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
99.943 |
171.587 |
184.702 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
397.843 |
225.605 |
219.000
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.29 |
7.92 |
1.49 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
91.49 |
86.84 |
54.65 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
93.32 |
90.73 |
67.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
154.24 |
72.47 |
17.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.53 |
0.70 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
24.57 |
3.90 |
75.95 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
2239.299 |
2239.299 |
2239.299 |
|
Reserves & Surplus |
244.152 |
408.469 |
791.155 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Net worth |
2483.451 |
2647.768 |
3030.454 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20329207%2029-Jun-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
608.493 |
2043.319 |
4966.007 |
|
|
|
235.800 |
143.036 |
%20PRIVATE%20LIMITED%20-%20329207%2029-Jun-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
608.493 |
2043.319 |
4966.007 |
|
Profit |
332.570 |
1774.318 |
4543.304 |
|
|
54.65% |
86.84% |
91.49% |
%20PRIVATE%20LIMITED%20-%20329207%2029-Jun-2015_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
Registered office of the company has been
shifted from 2/F Hoechst Housenariman Point Mumbai - 400021, Maharashtra, India
to the present address w.e.f. 25.05.2009
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
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.63.91 |
|
|
1 |
Rs.100.40 |
|
Euro |
1 |
Rs.70.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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
unfavorable 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.