MIRA INFORM REPORT
|
Report No. : |
348012 |
|
Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIMES GLOBAL
BROADCASTING COMPANY LIMITED |
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|
|
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Formerly Known
As : |
TIMES TELEVISION LIMITED |
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Registered
Office : |
Trade House, 1st Floor, Kamala Mill Compound, Senapati
Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-66353535 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.06.1986 |
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Com. Reg. No.: |
11-168454 |
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Capital
Investment / Paid-up Capital : |
Rs.2850.000 Million |
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CIN No.: [Company Identification
No.] |
U32109MH1986PLC168454 |
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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.] |
AACCT2259F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the English Television News segment
of the Media Business and operates a General News and Current affairs Channel
by the name “Times Now”. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject was incorporated on 13th June, 1986. It is a
broadcasting company offers the news and current affairs through its channel
by name “TIMES NOW” that operates from Mumbai and Delhi. The company is based
in Mumbai, India. It operates as a subsidiary of Bennett, Coleman and Company
Limited, India. It is an established and a reputed company having a fine
track record. The company is continuously incurring accumulated losses from its
operations. However, the company possesses a decent profile marked by
adequate networth base along with fair liquidity and profitability. Further, the rating derives strength from good and long track of
operations, extensive experienced of promoters and managerial as well as financial
support that company receives from its holding 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 and leadership position, the company can be
considered for business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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
31-03-2015.
INFORMATION DENIED
Management non-cooperative (91-22-66353535)
LOCATIONS
|
Registered / Corporate Office : |
Trade House, 1st Floor, Kamala Mill Compound, Senapati
Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24999944 / 24810000 |
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Fax No.: |
91-22-24931341 / 24990346 |
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E-Mail : |
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Website : |
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Head Office : |
Times of India Building, Dr. D N Road, Mumbai - 400001, Maharashtra,
India |
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Tel. No.: |
91-22-66353535 |
DIRECTORS
As on 22.08.2014
|
Name : |
Mr. Anand Moorkoth Kandoth |
|
Designation : |
Managing Director |
|
Address : |
901, Kedarnath Towers, Fisheries College Lane, Off Yari Road, Opposite Badrinath Towers, Versova, Andheri (West), Mumbai - 400061, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1967 |
|
Date of Appointment : |
22.07.2014 |
|
DIN No.: |
02973420 |
|
|
|
|
Name : |
Mitu Samar Nath |
|
Designation : |
Director |
|
Address : |
205, Panch Leela, Panch Srishti Complex, Near S.M.Shetty School, Powai, Mumbai - 400072, Maharashtra, India |
|
Date of Appointment : |
06.08.2015 |
|
DIN No.: |
07244627 |
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|
|
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Name : |
Mr. Shrijeet Ramakanta Mishra |
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Designation : |
Director |
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Address : |
Gitanjali Gardens, Flat No. 301, 68/E, Napeansea Road, Rungta Lane, Mumbai - 400006, Maharashtra, INDIA |
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Date of Birth/Age : |
22.04.1965 |
|
Date of Appointment : |
10.12.2012 |
|
DIN No.: |
01894081 |
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|
|
|
Name : |
Mr. Vineet Jain |
|
Designation : |
Director |
|
Address : |
15, Moti Lal Nehru Marg, New Delhi - 110011, India |
|
Date of Birth/Age : |
12.02.1966 |
|
Date of Appointment : |
31.03.2005 |
|
DIN No.: |
00003962 |
KEY EXECUTIVES
|
Name : |
Ms. Shilpa Sethi |
|
Designation : |
Company Secretary |
|
Address : |
A-21, Flat No. 104, Lisbon CHS., Shastri Nagar, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Appointment : |
12.03.2015 |
|
PAN No.: |
AILPG0884H |
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|
|
|
Name : |
Mr. Jagdish Mulchandani |
|
Designation : |
Chief Financial Officer |
|
Address : |
704, 7th Floor, June Blossom Co-operative Housing Society, Opposite St. Joseph Convent Manual Gonsalves Road, Bandra, Mumbai - 400050, Maharashtra, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AFEPM3986J |
MAJOR SHAREHOLDERS
As on 22.08.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Bennett Coleman and Company Limited, India |
|
85789529 |
|
S. Sivakumar |
|
11 |
|
A. P. Parigi |
|
11 |
|
Shweta Chaturvedi |
|
11 |
|
Kausik Nath |
|
11 |
|
Vijay Devadiga |
|
11 |
|
Vidyadharan Nair |
|
11 |
|
Prajakta Powle |
|
11 |
|
Total |
|
85789606 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Bennett Coleman and Company Limited, India |
|
199210394 |
|
Total |
|
199210394 |
As on 22.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the English Television News segment
of the Media Business and operates a General News and Current affairs Channel
by the name “Times Now”. |
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Products / Services : |
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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 |
PRODUCTION STATUS = NOT AVAILABLE
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 : |
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Auditors : |
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Name : |
Lodha and Company Chartered Accountants |
|
Address : |
6, Karim Chambers, 40A Doshi Marg (Hamam Street), Mumbai, Maharashtra, India |
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PAN No.: |
AABFL1894Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Bennett, Coleman and Company Limited, India |
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Fellow Subsidiaries
: |
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Associate : |
Bennett Property Holding Company Limited, India |
CAPITAL STRUCTURE
As on 22.08.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85789606 |
Equity Shares |
Rs.10/- each |
Rs.857.896 Million |
|
199210394 |
Preference Shares |
Rs.10/- each |
Rs.1992.104 Million |
|
|
Total |
|
Rs.2850.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85789606 |
Equity Shares |
Rs.10/- each |
Rs.857.896
Million |
|
199210394 |
Preference Shares |
Rs.10/- each |
Rs.1992.104 Million |
|
|
Total |
|
Rs.2850.000
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 |
2850.000 |
2188.196 |
2188.196 |
|
(b) Reserves &
Surplus |
(2441.749) |
(2679.666) |
(2786.973) |
|
(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) |
408.251 |
(491.470) |
(598.777) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
170.000 |
1213.547 |
546.861 |
|
(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 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
170.000 |
1213.547 |
546.861 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
27.708 |
62.662 |
|
(b) Trade payables |
356.116 |
455.405 |
963.831 |
|
(c) Other current
liabilities |
173.381 |
91.924 |
82.265 |
|
(d) Short-term provisions |
72.741 |
72.969 |
54.248 |
|
Total Current Liabilities
(4) |
602.238 |
648.006 |
1163.006 |
|
|
|
|
|
|
TOTAL |
1180.489 |
1370.083 |
1111.090 |
|
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
103.408 |
106.943 |
100.899 |
|
(ii) Intangible Assets |
9.552 |
14.309 |
3.830 |
|
(iii) Capital
work-in-progress |
0.000 |
4.187 |
1.346 |
|
(iv) Intangible assets
under development |
1.266 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
376.747 |
341.169 |
348.879 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
490.973 |
466.608 |
454.954 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
84.646 |
0.000 |
0.352 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
494.895 |
579.101 |
511.999 |
|
(d) Cash and cash
equivalents |
15.549 |
22.677 |
10.199 |
|
(e) Short-term loans and
advances |
55.883 |
77.076 |
132.768 |
|
(f) Other current assets |
38.543 |
224.621 |
0.818 |
|
Total Current Assets |
689.516 |
903.475 |
656.136 |
|
|
|
|
|
|
TOTAL |
1180.489 |
1370.083 |
1111.090 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2417.346 |
2129.043 |
1789.637 |
|
|
Other Income |
198.193 |
9.961 |
1.757 |
|
|
TOTAL |
2615.539 |
2139.004 |
1791.394 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
278.626 |
238.331 |
220.618 |
|
|
Employees benefits
expense |
924.157 |
774.465 |
450.699 |
|
|
Other expenses |
1118.319 |
969.717 |
1050.316 |
|
|
TOTAL |
2321.102 |
1982.513 |
1721.633 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
294.437 |
156.491 |
69.761 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1.935 |
1.416 |
0.167 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
292.502 |
155.075 |
69.594 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
54.586 |
51.926 |
53.125 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
237.916 |
103.149 |
16.469 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(4.157) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
237.916 |
107.306 |
16.469 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital goods |
20.100 |
30.088 |
NA |
|
|
Purchase of spare parts |
2.676 |
11.357 |
NA |
|
|
TOTAL IMPORTS |
22.776 |
41.445 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.45 |
(0.07) |
(1.13) |
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 |
|
Net cash flows from (used in) operations |
545.726 |
(620.659) |
(147.503) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
9.84 |
5.04 |
0.92 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
12.18 |
7.35 |
3.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.18 |
7.55 |
1.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58 |
(0.21) |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.42 |
(2.53) |
(1.02) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.39 |
0.56 |
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 |
2188.196 |
2188.196 |
2850.000 |
|
Reserves & Surplus |
(2786.973) |
(2679.666) |
(2441.749) |
|
Net worth |
(598.777) |
(491.470) |
408.251 |
|
|
|
|
|
|
long-term borrowings |
546.861 |
1213.547 |
170.000 |
|
Short term borrowings |
62.662 |
27.708 |
0.000 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
609.523 |
1241.255 |
170.000 |
|
Debt/Equity ratio |
(1.018) |
(2.526) |
0.416 |
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 |
1789.637 |
2129.043 |
2417.346 |
|
|
|
18.965 |
13.541 |
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 |
1789.637 |
2129.043 |
2417.346 |
|
Profit |
16.469 |
107.306 |
237.916 |
|
|
0.92% |
5.04% |
9.84% |
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 |
Yes |
|
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 |
No |
|
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 |
Note:
The registered address has been shifted from the Times House, 4th Floor,
7 Bahadurshah Zafar Marg, New Delhi – 110002, India to the present address
w.e.f. 25.01.2007
LITIGATION DETAILS
|
LITIGATION DETAILS |
||||
|
Bench:- Bombay Presentation Date: 06.10.2015 |
||||
|
Lodging No. : |
ITXAL/1461/2015 |
Failing Date:- |
06.10.2015 |
|
|
Petitioner:- |
COMMISSIONER OF INCOME TAX (TDS)-2 |
Respondent:- |
TIMES GLOBAL BROADCASTING COMPANY LIMITED |
|
|
Petn.Adv:- |
SURESH KUMAR (I2100) |
Resp. Adv.: |
|
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|
District:- |
MUMBAI |
|||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
|
|
Status:- |
Pre-Admission |
|||
|
Last Date:- |
13.10.2015 |
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Last Coram:- |
REGISTRAR (OS)/PROTHONOTARY AND SR. MASTER |
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Act. : |
Income Tax Act, 1961 |
Under Section 260A |
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COMPANY OVERVIEW
The Company is engaged in the English Television News segment of the Media Business and operates a General News and Current affairs Channel by the name “Times Now”. The Company is a wholly owned subsidiary of Bennett, Coleman and Company Limited.
Times Now is uplinked from the teleport owned by its Holding Company Bennett, Coleman and Company Limited situated in Mumbai and permitted by the Ministry of Information & Broadcasting. The news programmes are anchored out of its studios set-up in Mumbai, New Delhi and through the network of 14 satellite linked bureaus in all major Indian cities further augmented by deploying its 16 outdoor broadcast vans. The News and Current affairs programmes broadcasted by the Company is compiled and edited based on inputs by its trained set of reporters, correspondents, stringers, anchors, guest talent and team of in-house editors. Further the newsgathering teams of the Times of India as well as feeds obtained from Reuters Network, APTN, ANI, PTI etc., compliment the newsgathering process.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
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Loans and advances from related parties |
170.000 |
1213.547 |
|
SHORT TERM
BORROWING |
|
|
|
Terms loans from banks |
0.000 |
27.708 |
|
Total |
170.000 |
1241.255 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Other Equipments
- Leasehold Improvements
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 records 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.65.48 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
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Information
Gathered by : |
PRT |
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Analysis Done by
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RAS |
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Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILITY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
YES |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER
|
|
|
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
|
54 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.