MIRA INFORM REPORT
|
Report No. : |
348427 |
|
Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
JETSYNTHESYS PRIVATE LIMITED (w.e.f. 05.09.2014) |
|
|
|
|
Formerly Known
As : |
MEREEDHUN DIGITAL MEDIA PRIVATE LIMITED |
|
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|
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Registered
Office : |
101-104, Metro House, Mangaldas Road, Pune- 411001, Maharashtra |
|
Tel. No.: |
91-20-2616973/49101111 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
22.08.2012 |
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Com. Reg. No.: |
11-144453 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.700 Million |
|
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CIN No.: [Company Identification
No.] |
U93000PN2012PTC144453 |
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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.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in the business of providing personalized ringtones
and digital content over internet and also engaged in trading of sound
modules. |
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|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
JETSYNTHESYS PRIVATE LIMITED is part of the Navani family owned JetLine Group of Companies. Jetsynthesys is engaged into providing digital and technology services. The rating on Jetsynthesys Private Limited is constrained by the small scale of operation’s, limited track record marked by loss from its operation, decline in its reserves position, moderate capital structure and debt coverage indicators. This rating offsets by the benefits from experienced management team and operational synergies with the group companies. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. 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.
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
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Dhanajay Nalawade |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-20-49101111 |
|
Date : |
05.11.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
101-104, Metro House, Mangaldas Road, Pune- 411001, Maharashtra, India |
|
Tel. No.: |
91-20-2616973/49101111 |
|
Mobile No.: |
91-7276263370 (Mr. Shripad) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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Website : |
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Technical Office 1 : |
6th and 7th Floor, Skyone, Kalyani Nagar, Pune – 411006, Maharashtra, India |
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Technical Office 2 : |
2nd Floor Baron's Club Kalyani Nagar, Pune – 411006, Maharashtra, India |
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Marketing Division : |
Universal Business Park, 2nd Floor, B-203, Andheri (East) Mumbai, Maharashtra, India |
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|
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Overseas Office : |
Suite 250, 929 Colorado Ave, Santa Monica, Los Angeles County, CA 90401 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Parimit Parmar |
|
Designation : |
Director |
|
Address : |
C-301, Rohan Tapovan, Gokhale Nagar, Off. S. B. Road, Near Vikhe Patil School, Pune-411016, Maharashtra, India |
|
Date of Birth/Age : |
16.10.1968 |
|
Date of Appointment : |
22.08.2012 |
|
DIN No.: |
05346236 |
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|
|
|
Name : |
Mr. Rakesh Ramesh Navani |
|
Designation : |
Director |
|
Address : |
Asanjo 1-3,Samrat Society, Kalyani Nagar, Pune-411006, Maharashtra, India |
|
Date of Appointment : |
10.10.2014 |
|
DIN No.: |
01864780 |
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|
|
|
Name : |
Mr. Rajan Ramesh Navani |
|
Designation : |
Director |
|
Address : |
Asanjo 1-3,Samrat Society,Kalyni Nagar, Pune-411006, Maharashtra, India |
|
Date of Birth/Age : |
08.03.1971 |
|
Date of Appointment : |
22.08.2012 |
|
DIN No.: |
01871185 |
|
|
|
|
Name : |
Mr. Senapathy Gopalakrishnan |
|
Designation : |
Director |
|
Address : |
855, 13th Main, 4th A Cross, III Block, Koramangala, Bangalore-560034, Karnataka, India |
|
Date of Appointment : |
20.04.2015 |
|
DIN No.: |
00041656 |
KEY EXECUTIVES
|
Name : |
Mr. Dhanajay Nalawade |
|
Designation : |
Accounts Officer |
|
|
|
|
Name : |
Mr. Amit P. Punde |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.5, 86/2, Eransawana, near Kamala Nehru Park, Dr. Ketar Marg,
Pune-411004, Maharashtra, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Navani Ramesh Rajan |
|
774800 |
|
Parmar Parimit |
|
86250 |
|
Talera Suresh Harshad |
|
2000 |
|
Gupta Dulichand Nitin |
|
10000 |
|
Jaybhay Rambhau Sanjay |
|
10000 |
|
Vandekar R. Dattajirao |
|
2000 |
|
Patel Ramanbhai Niharika |
|
7250 |
|
Tewari Anubhav |
|
1000 |
|
Khandelwal Ashish Sweta |
|
500 |
|
Khandelwal Neelesh Radhika |
|
500 |
|
Jain Kshitiz |
|
500 |
|
Navani Sheetal |
|
250 |
|
Navani Kishinchand Ramesh |
|
6100 |
|
Navani Ramesh Rakesh |
|
4350 |
|
Rains Holding (Shares Held By Partner Mr. Rajan Navani) |
|
94500 |
|
Total |
|
1000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
97.35 |
|
Other top fifty shareholders |
2.65 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing personalized ringtones
and digital content over internet and also engaged in trading of sound
modules. |
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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 Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash / Advance Payment / Credit |
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Purchasing : |
Cash / Advance Payment / Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Khandelwal Jain and Associates Chartered Accountants |
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Address : |
1st Floor, Alankar Cinema Building, Near Pune Station, Pune-411001,
Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAOFK4306M |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries (As confirmed by the management ) : |
Jetline Corrugated Boxes Private Limited |
CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital : Rs.12.000 Million
Issued, Subscribed & Paid-up Capital : Rs.12.000
Million
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,200,000 |
Equity Shares |
Rs.10/- each |
Rs. 12.000 Million |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000
Million |
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|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
270,000 |
Equity Shares |
Rs.10/- each |
Rs. 2.700 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
270,000 |
Equity Shares |
Rs.10/- each |
Rs. 2.700 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
|
2.700 |
1.320 |
|
(b) Reserves & Surplus |
|
0.792 |
4.754 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
3.492 |
6.074 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
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(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.021 |
0.021 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.021 |
0.021 |
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
10.987 |
0.576 |
|
(b) Trade
payables |
|
7.092 |
1.194 |
|
(c) Other
current liabilities |
|
1.204 |
0.833 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
19.283 |
2.603 |
|
|
|
|
|
|
TOTAL |
|
22.796 |
8.698 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
0.508 |
0.569 |
|
(ii) Intangible
Assets |
|
8.709 |
5.886 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
1.343 |
0.433 |
|
(d) Long-term Loan and Advances |
|
0.695 |
0.259 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
11.255 |
7.147 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.051 |
0.120 |
|
(c) Trade
receivables |
|
2.825 |
1.133 |
|
(d) Cash
and cash equivalents |
|
0.126 |
0.084 |
|
(e)
Short-term loans and advances |
|
7.672 |
0.052 |
|
(f) Other
current assets |
|
0.867 |
0.162 |
|
Total
Current Assets |
|
11.541 |
1.551 |
|
|
|
|
|
|
TOTAL |
|
22.796 |
8.698 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
4.276 |
2.047 |
|
|
|
Other Income |
|
0.035 |
0.000 |
|
|
|
TOTAL |
|
4.311 |
2.047 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other expenses |
|
6.747 |
2.497 |
|
|
|
TOTAL |
|
6.747 |
2.497 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(2.436) |
(0.450) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
|
2.435 |
1.009 |
|
|
|
|
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|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(4.871) |
(1.459) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
(0.909) |
(0.433) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
|
(3.962) |
(1.026) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
|
(29.93) |
(9.15) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash flows from (used in) operation |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
(92.66) |
(50.12) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(22.71) |
(17.65) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(1.39) |
(0.24) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
3.15 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.60 |
0.60 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1.320 |
2.700 |
|
Reserves & Surplus |
4.754 |
0.792 |
|
Net
worth |
6.074 |
3.492 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.576 |
10.987 |
|
Total
borrowings |
0.576 |
10.987 |
|
Debt/Equity
ratio |
0.095 |
3.146 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2.047 |
4.276 |
|
|
|
108.891 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2.047 |
4.276 |
|
Profit/ (Loss) |
(1.026) |
(3.962) |
|
|
(50.12%) |
(92.66%) |
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 |
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 one year 8
months |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last one year 8 months |
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans from
Directors/ Share Holders |
|
|
|
Parimit Parmar |
3.536 |
0.576 |
|
Rains Holding |
7.055 |
0.000 |
|
Rakesh Navani |
0.396 |
0.000 |
|
Total |
10.987 |
0.576 |
INDEX
OF CHARGES NO CHARGES EXIST FOR COMPANY
FIXED ASSETS
Tangible Assets
· Furniture and fixture
· Office equipment
· Computer and Accessories
· Mobile
Intangible Assets
· Digital Media Software
· Technical Knowhow Acquired
PRESS RELEASES
JetSynthesys Acquires Gaming Company Xerces Technologies
Date: June 09, 2015
Strengthens its Celebrity Digital Gaming Portfolio “PlayIzzOn”
MUMBAI, India--(BUSINESS WIRE)--JetSynthesys Private Limited, a part of the Navani family owned JetLine Group of Companies, today announced the acquisition of Pune based mobile gaming company Xerces Technologies Pvt. Ltd. Having achieved success in the application development market, the 10 year old company, Xerces Technologies, developed India’s no. 1 mobile game with over 9 million downloads way back in 2008. Having a series of successes in the mobile gaming market the company has developed some of the most downloaded games across various app stores, in India and globally, such as Cricket Unlimited, StickMan fighter, Bull Fighter, Mad Car Racing and the Bollywood movie based game Bang Bang.
“JetSynthesys and Xerces are both believers and understand that there is a wide opportunity available for the growth of mobile gaming in India,” said Mr. Rajan Navani, Vice Chairman, Managing Director and CEO, JetSynthesys. “Through this acquisition, JetSynthesys will strengthen our already robust digital gaming portfolio, PlayIzzOn, to become India’s largest gaming company, focussed on building gaming experiences for the global market including celebrity games and enabling games to monetise effectively in India. Xerces also brings a strong team that understands the complexities of delivering world class commercially successful products.”
Mr. Xerxes Mullan, Founder and Chief Executive Officer, Xerces Technologies and now President of JetSynthesys’ Gaming business, said, “We are elated to become a part of JetSynthesys as this will accelerate our joint efforts to become an extremely valuable gaming company in the world, adding to our existing user base to capture 200 million active users within 3 years. JetSynthesys’ technological capabilities in the analytics and digital marketing space are at par with the best in the world and that should help further enhance our value proposition to the end consumer.”
About JetSynthesys: JetSynthesys Private Limited is part of the Navani family owned JetLine Group of Companies. JetSynthesys is the group’s most innovative company in the promising Digital and Technology Business World with a vision to create world class digital products, platforms and services in India and play an active role in the digital daily life of 1.2 billion Indians extending that to all individuals on the planet through very powerful targeted big data analytics and unbeatable content and user experiences. The company is currently attempting to reach every household member in India with content that is curated responsibly and resonates with the aspirational needs of its consumers. Over time these will become next generation globally trusted digital platforms and have the immense potential to transform the daily lives of people by solving complex problems using digital technologies. JetSynthesys currently operates six business divisions, MereeDhun with music, PlayIzzOn with gaming, Wakau in partnership with CA Media Digital in celebrity video blogging, DigiAdz with targeted digital advertising, DataLytiX with big data analytics and the Digital Technology Innovation Factory (DTIF) with a range of products and services. Infosys co-founder and former Vice Chairman and CEO of Infosys, Kris Gopalakrishnan is the Non Executive Chairman of the Company, Rajan Navani is the Vice Chairman, Managing Director and CEO, Parimit Parmar serves as the Executive Director and COO while Rakesh Navani is the Finance Director of 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.65.67 |
|
|
1 |
Rs.101.02 |
|
Euro |
1 |
Rs.71.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.