MIRA INFORM REPORT
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Report No. : |
313694 |
|
Report Date : |
21.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
SERIAL INNOVATIONS INDIA PRIVATE LIMITED (w.e.f. 14.08.2008) |
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Formerly Known
As : |
SARNOFF INNOVATIVE TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
No.104, Shivalaya, I Floor, 17th 'C' Main Road, 5th Cross, Koramangala
5th Block Extension, Bangalore – 560095, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
18.12.2003 |
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Com. Reg. No.: |
08-033043 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.551 Million |
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CIN No.: [Company Identification
No.] |
U74140KA2003PTC033043 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in software development. |
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No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 40000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Management has witnesses a drastic decline in its revenue as well as
has reported consecutive losses during FY14. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of experienced promoters, the company can be considered for
business dealings with some caution. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Reddy |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-80-41999555 |
|
Date : |
20.03.2015 |
LOCATIONS
|
Registered Office : |
No.104, Shivalaya, I Floor, 17th 'C' Main Road, 5th Cross, Koramangala
5th Block Extension, Bangalore – 560095, Karnataka, India |
|
Tel. No.: |
91-80-41999555 |
|
Fax No.: |
91-80-41999666 |
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E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Arind Lakshmikumar |
|
Designation : |
Director |
|
Address : |
Maruthi 235, 18th Main 16th Block, Koramangala,
Bangalore – 560095, Karnataka, India |
|
Date of Birth/Age : |
12.07.1976 |
|
Date of Appointment : |
04.07.2008 |
|
DIN No.: |
02261469 |
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|
|
|
Name : |
Mr. Ankit Kumar |
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Designation : |
Director |
|
Address : |
2202, 2nd Floor, 22nd Main 15B, Cross, HSR Lay Out
Sector 1, Bangalore – 560102, Karnataka, India |
|
Date of Birth/Age : |
13.07.1982 |
|
Date of Appointment : |
28.12.2012 |
|
DIN No.: |
02953852 |
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|
|
|
Name : |
Mr. Cecilia Dsouza |
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Designation : |
Director |
|
Address : |
48, Marcel LE Ville, Netaji Road, Bangalore – 560005, Karnataka, India
|
|
Date of Birth/Age : |
30.07.1974 |
|
Date of Appointment : |
14.08.2012 |
|
DIN No.: |
06380429 |
KEY EXECUTIVES
|
Name : |
Mr. Reddy |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Tonbo Imaging Private Limited, India |
|
5472 |
|
Mitchell Guy, USA |
|
15000 |
|
Serial Innovations Employees Stock Options Trust, India |
|
249442 |
|
Arvind Lakshmikumar |
|
89000 |
|
Total |
|
358914 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Tonbo Imaging Private Limited, India |
|
96173 |
|
Total |
|
96173 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
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 |
4.20 |
|
Bodies corporate |
1.50 |
|
Directors or relatives of Directors |
24.80 |
|
Other top fifty shareholders |
69.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in software development. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 (30,60-90 Days) |
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Purchasing : |
Cash and Credit (30,60-90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Kalyanasundaram and Associates Chartered Accountants |
|
Address : |
# 1464, Ground Floor 38th Cross, 11th Main 4th 'T' Block,
Jayanagar, Bangalore – 560041,
Karnataka, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFK3741J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprise having substantial interest: : |
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Wholly Owned Subsidiary: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
475000 |
Equity Shares |
Rs.10/- each |
Rs. 4.750 Million |
|
125000 |
Preference Shares |
Rs.10/- each |
Rs. 1.250 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 6.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
358914 |
Equity Shares |
Rs.10/- each |
Rs. 3.589 Million |
|
96173 |
Preference Shares |
Rs.10/- each |
Rs. 0.962 Million |
|
|
|
|
|
|
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Total |
|
Rs. 4.551 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
4.551 |
4.551 |
4.551 |
|
(b) Reserves & Surplus |
9.614 |
10.707 |
19.250 |
|
(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) |
14.165 |
15.258 |
23.801 |
|
|
|
|
|
|
(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 |
0.000 |
0.719 |
1.499 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.719 |
1.499 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
2.500 |
0.000 |
|
(b) Trade payables |
0.144 |
0.444 |
0.532 |
|
(c) Other current liabilities |
7.188 |
1.250 |
6.988 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
7.332 |
4.194 |
7.520 |
|
|
|
|
|
|
TOTAL |
21.497 |
20.171 |
32.820 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.552 |
0.821 |
3.173 |
|
(ii) Intangible Assets |
0.038 |
0.100 |
0.175 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.646 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
2.374 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.712 |
4.722 |
5.253 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
5.302 |
5.643 |
11.621 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
2.450 |
0.000 |
|
(c) Trade receivables |
4.452 |
4.075 |
8.460 |
|
(d) Cash and cash equivalents |
11.149 |
6.549 |
11.158 |
|
(e) Short-term loans and
advances |
0.492 |
1.367 |
1.476 |
|
(f) Other current assets |
0.102 |
0.087 |
0.105 |
|
Total
Current Assets |
16.195 |
14.528 |
21.199 |
|
|
|
|
|
|
TOTAL |
21.497 |
20.171 |
32.820 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
12.420 |
27.190 |
19.330 |
|
|
Other Income |
0.490 |
2.970 |
0.810 |
|
|
TOTAL |
12.910 |
30.160 |
20.140 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Cost of sales |
14.090 |
36.700 |
28.710 |
|
|
TOTAL |
14.090 |
36.700 |
28.710 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(1.180) |
(6.540) |
(8.570) |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
0.230 |
0.110 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1.410) |
(6.650) |
(8.570) |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
0.330 |
1.190 |
1.530 |
|
|
|
|
|
|
|
|
DIMINUTION IN VALUE OF INVESTMENT |
0.000 |
2.270 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(1.750) |
(10.110) |
(10.100) |
|
|
|
|
|
|
|
|
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(1.750) |
(10.110) |
(10.100) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export Sales |
0.000 |
0.175 |
8.054 |
|
|
TOTAL
EARNINGS |
0.000 |
0.175 |
8.054 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
0.000 |
0.996 |
1.039 |
|
|
Office Equipment |
0.000 |
0.000 |
0.167 |
|
|
Intangible Assets - Computer
Software |
0.481 |
12.548 |
3.727 |
|
|
TOTAL
IMPORTS |
0.481 |
13.544 |
4.933 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(14.00) |
(91.00) |
(93.00) |
Expected Sales (2014-2015) : Rs.20.00 Million
The above information has been parted by Mr. Reddy
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(14.09) |
(37.18) |
(52.25) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(9.50) |
(24.05) |
(44.34) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.14) |
(50.12) |
(33.89) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12) |
(0.66) |
(0.42) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.16 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21 |
3.46 |
2.82 |
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 |
4.551 |
4.551 |
4.551 |
|
Reserves & Surplus |
19.250 |
10.707 |
9.614 |
|
Net
worth |
23.801 |
15.258 |
14.165 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
2.500 |
0.000 |
|
Total
borrowings |
0.000 |
2.500 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.164 |
0.000 |
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 |
19.330 |
27.190 |
12.420 |
|
|
|
40.662 |
(54.321) |
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 |
19.330 |
27.190 |
12.420 |
|
Profit |
(10.100) |
(10.110) |
(1.750) |
|
|
(52.25%) |
(37.18%) |
(14.09%) |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Intercorporate loan from associated enterprise |
0.000 |
2.500 |
|
Total |
0.000 |
2.500 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
Claim by various government authorities not
acknowledged as debts and contested by the company Income Tax |
7.706 |
7.706 |
|
Bank Guarantee |
4.042 |
1.894 |
FIXED ASSETS
Tangible Assets
- Data
Processing Equipment
- Furniture and
Fixtures
- Office
Equipment
Intangible Assets
- Computer
Software
PRESS RELEASES
BANGALORE-BASED SERIAL INNOVATIONS BETS BIG ON DEFENCE; PROVIDES
TECHNOLOGY TO DRONES, ARJUN TANKS
14, JUNE, 2011
When US drones or unmanned aerial vehicles navigate through
various geographies of the world, they have Bangalore-based Serial Innovations
to thank for helping them send live video feeds smoothly. This technology
startup has developed products that helps stabilise video feeds coming from
unmanned aerial vehicles (UAVs).
Serial Innovations founder and CEO Arvind Lakshmikumar said they developed
these systems for Europe's biggest defence company, which in turn sold them to
the US Army. However, for 35-year-old Lakshmikumar, the main mission is to
build visual sensing systems which sense, analyse and control complex
environments for Indian defence.
"Our imaging systems are 40-50% cheaper compared to the products imported
from Israel, US and Europe," said Lakshmikumar, a PhD in robotics from
Carnegie Mellon University of USA. Their products include night vision goggles
and smart thermal cameras. With annual revenues of around Rs 100.000 Million,
20 employees and 15 pending patents, the firm's clients include the Defence
Research and Development Organisation (DRDO), Mahindra Satyam as well as the
Defence Advanced Research Projects Agency of the US.
It has deployed its intelligent cameras for 'Daksh' , an unmanned robot that can scan and defuse bombs. These systems are also being fixed on India's upgraded version of Arjun tanks. "They are providing us very niche vision technologies," said DRDO scientist Alok Mukherjee, who heads the Robotics Group at Pune-based R&DE (Engineers) laboratory. Lakshmikumar's US customers said that breaking into the US defence market is tough, but the quality of their products can bring that day closer.
"With their specialised cameras and image processing software, I can confidently enter bids that would have been impossible before," said Frank J Frysiek , president and CEO at Potomac River Group, a defence contractor that serves high-profile US government departments. "Serial Innovations is one of few non-US technology companies that has developed night vision systems," said Ronald L Bauer, director for business development at Sparton Electronics, a US-based defence contractor.
Mumbai Angels, a group of early-stage investors, injected Rs 22.000 Million in Serial Innovations this year. "They are doing lot of innovations and have a clear business strategy. Unlike being a copy cat firm, they have already built intellectual property," said Sasha Mirchandani, managing partner at Kae Capital and co-founder of Mumbai Angels. The Indian video surveillance and security for infrastructures security market is growing at 20-30% annually.
As per an Assocham report, the security industry should reach Rs 50,0000.000 Million this year. Before becoming an entrepreneur, Lakshmikumar used to work at companies such as Intelligent Automation and Honeywell in the US. There, he built various imaging technologies for major defence contractors such as Raytheon and Lockheed Martin. These technologies were then used by the US defence and space agency NASA.
"It was a lucrative job, but I was not satisfied, I wanted to come back," said Lakshmikumar, who relo cated to India in 2003 to head the India operations of the US-based Sarnoff Corporation. However, soon Lakshmi kumar's home-coming dreams be came a hard struggle for survival. Sarnoff had to wind up its India oper ations due to technology transfer is sues, as it was a direct source of imag ing systems and cameras to the US defence. Lakshmikumar bought out 95% of the subsidiary along with his friend and partner Tim Mitchell.
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.62.49 |
|
|
1 |
Rs.92.26 |
|
Euro |
1 |
Rs.66.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.