MIRA INFORM REPORT

 

 

Report No. :

346333

Report Date :

23.10.2015

 

IDENTIFICATION DETAILS

 

Name :

ASHTECH INFOTECH PRIVATE LIMITED (w.e.f.12.06.2001)

 

 

Formerly Known As :

ASHTECH INFOTECH LIMITED (w.e.f.01.07.1997)

ASHTECH INFOTECH PRIVATE LIMITED

 

 

Registered Office :

Naman Midtown, B Wing, 10th Floor, Senapati Bapat Marg, Elphinston Road (West), Mumbai – 400013, Maharashtra

Tel. No.:

91-22-43454345/ 24961111

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

05.11.1993

 

 

Com. Reg. No.:

11-074939

 

 

Capital Investment / Paid-up Capital :

Rs.8.200 Million

 

 

CIN No.:

[Company Identification No.]

U30007MH1993PTC074939

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is mainly engaged in trading activities of information Technology products and providing maintenance and related services.

 

 

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

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1993 engaged in the business of providing IT infrastructure solution. Its services and solutions include infrastructure management services, end to end network integration, security integration, platform and storage integration, enterprise management services implementation, storage, server and backup consolidation consulting etc.

 

For the financial year ended 2014, company has reported 13.81% sales turnover growth as compared to previous sales turnover and it has maintained satisfactory profitability margins at 4.48% during the year under a review.

 

Rating also takes into consideration company’s established track record of business operations marked by its satisfactory financial base along with adequate networth profile and sound debt coverage indicators.

 

Trade relations are reported as fair. Payment terms are reported to be usually regular and as per commitment.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

 

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

CRISIL

Rating

Long Term Rating = BB+ (Suspended)

Rating Explanation

Inadequate-credit-quality and high credit risk.

Date

19.12.2014

 

 

Rating Agency Name

CRISIL

Rating

Short Term Rating = A4+ (Suspended)

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

19.12.2014

 

Reason for Suspension: Absence of requisite information.

 

 

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 (Tel No.: 91-22-43454345)

 

 

LOCATIONS

 

Registered/ Head Office :

Naman Midtown, B Wing, 10th Floor, Senapati Bapat Marg, Elphinston Road (West), Mumbai – 400013, Maharashtra, India

Tel. No.:

91-22-43454345/ 24961111

Fax No.:

91-22-24963300

E-Mail :

ashtech@ashinfo.com

saurin_shah@ashinfo.com

ramesh_dave@ashinfo.com

Website :

http://www.ashinfo.com

 

 

Branch Offices :

Located at:

 

·         Ahmedabad

·         Bangalore 

·         Chennai 

·         New Delhi

·         Pune 

·         Hyderabad

 

 

Service Franchises :

Located at:

 

·         Vadodara

·         Surat

·         Rajkot

·         Jamnagar

·         Pune

·         Nashik

·         Nagpur

·         Udaipur

·         Jaipur

·         Kanpur

·         Chandigarh

·         Kolkata

·         Hyderabad

·         Cochin

 

 

DIRECTORS

 

As on 24.09.2014

 

Name :

Mr. Saurin Devendra Shah

Designation :

Managing Director

Address :

15, Avillion, 4th Floor, Little Gibbs Road, Walkeshwar, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

11.12.1958

Qualification :

B. Com

Experience :

28 Years

Date of Appointment :

05.11.1993

DIN No.:

00677051

 

 

Name :

Mr. Shreyas Narendra Shah

Designation :

Whole Time Director

Address :

7, Pavlova, Little Gibbs Road, Walkeshwar, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

24.01.1948

Date of Appointment :

01.07.2001

DIN No.:

00677664

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 24.09.2014

 

Names of Shareholders

 

No. of Shares

Saurin Devendra Shah (Jointly Zarna Saurin Shah)

 

164900

Shreyas Narendra Shah

 

58900

Saurin Devendra Shah (HUF) (Jointly Zarna Saurin Shah)

 

13900

Shreyas Narendra Shah (HUF) (Jointly Kalpana Shreyas Shah)

 

6700

Kalpana Shreyas Shah (Jointly Shreyas Narendra Shah)

 

109900

Devendra Ramanlal Shah (HUF) (Jointly Saurin Devendra Shah)

 

114800

Shah Saurin Zarna (Jointly Zarna Saurin Shah)

 

207900

Devendra Ramanlal Shah (Jointly Saurin Devendra Shah)

 

61400

Shilpa Rajesh Sheth (Jointly Saurin Devendra Shah)

 

100

Shah Jayesh Suchita (Jointly Saurin Devendra Shah)

 

100

Devendra Ramanlal Shah (Jointly Shreyas Narendra Shah)

 

100

Narendra Ramanlal Shah (HUF)

 

100

Virbala Narendra Shah (Jointly Narendra Ramanlal Shah)

 

100

Rajul Asit Shah (Narendra Ramanlal Shah)

 

100

Rajendra Ramanlal Shroff (HUF) (Jointly Sujal Rajendra Shroff)

 

100

Sohil Shreyas Shah (Jointly Shreyas Narendra Shah)

 

300

Aashini Saurin Shah (Jointly Saurin Devendra Shah)

 

40100

Aesha Saurin Shah (Jointly Saurin Devendra Shah)

 

40100

Sohil Shreyas Shah (Jointly Anupa Sohil Shah)

 

200

Anupa Sohil Shah (Sohil Shreyas Shah)

 

100

Shah Sohil Aarav

 

100

Total

 

820000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 24.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is mainly engaged in trading activities of information Technology products and providing maintenance and related services.

 

 

Products/ Services :
  • Technology products and providing maintenance and related services.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

A Littleworld 

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

ABN Amro Bank 

Alliance Capital 

Bloomberg 

Citibank

Crisil

HDFC Bank

ICICI Bank

Indus Ind Bank

India Infoline 

J M Morgan

Mashreq Bank

Stanleysocietie Generale Bank

Societie Generale Securities

BARC 

  • Dalal Consultants
  • Dhoot Entertainment
  • Global Esecure 
  • GNFC (PKI Infrastructure) 
  • HUTCH
  • ISRO
  • IPR
  • Nanavati Hospital
  • NimbuS
  • PRL

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

·         State Bank of India, Industrial Finance Branch, Devchand House, Shivsagar Estate, Worli, Mumbai - 400018, Maharashtra, India

·         Axis Bank Limited

·         ICICI Bank Limited

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term Loans – From Banks

Non-Current Portion

0.027

1.304

Current Portion

(Secured by hypothecation of Motor Cars)

1.272

2.956

State Bank of India

 

 

Non-Current Portion

17.917

0.000

Current Portion

(Secure by: Registered Mortgage Charge on Office Premises)

5.000

0.000

HDFC Limited

 

 

Non-Current Portion

18.457

0.000

 

 

 

Short-term borrowings

 

 

Cash Credit Account with State Bank of India, Worli, Mumbai

(Secured against hypothecation of stock in trade, book debts and further collateral by creating equitable mortgage of immovable office property owned by one of the Directors and personal guarantees by both the Directors)

37.473

20.709

 

 

 

Total

80.146

24.969

 

 

 

Auditors :

 

Name :

Chandrakant and Sevantilal

Chartered Accountants

Address :

4, Fairy Manor, 2nd Floor, 13, R. Sidhwa Marg, (Gunbow St.), Fort, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-22660673/ 22661754 / 22662959

Fax No.:

91-22-22662744

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFC0278Q

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Wholly owned Subsidiary Company :
  • Ashtech Infotech (Singapore) Pte. Limited

 

 

Company under same management :

·         Flowery Finance and Management Services Private Limited

·         Ping Networks and Wireless Private Limited

·         Terraa Propex Private Limited

 

 

CAPITAL STRUCTURE

 

As on 24.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1450000

Equity Shares

Rs.10/- each

Rs.14.500 Million

50000

Unclassified Shares

Rs.10/- each

Rs.0.500 Million

 

TOTAL

 

Rs.15.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

820000

Equity Shares

Rs.10/- each

Rs.8.200 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

8.200

8.200

8.200

(b) Reserves & Surplus

124.510

97.633

85.176

(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)

132.710

105.833

93.376

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

63.290

46.369

31.442

(b) Deferred tax liabilities (Net)

1.211

0.000

0.000

(c) Other long term liabilities

3.246

3.537

3.246

(d) long-term provisions

1.199

1.167

0.591

Total Non-current Liabilities (3)

68.946

51.073

35.279

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

37.473

20.709

18.372

(b) Trade payables

103.327

66.744

50.785

(c) Other current liabilities

27.975

25.325

31.113

(d) Short-term provisions

0.692

1.005

0.899

Total Current Liabilities (4)

169.467

113.783

101.169

 

 

 

 

TOTAL

371.123

270.689

229.824

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

124.059

12.582

14.664

(ii) Intangible Assets

0.063

0.105

0.175

(iii) Capital work-in-progress

8.588

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

7.391

7.967

6.554

(c) Deferred tax assets (net)

0.000

1.348

0.983

(d)  Long-term Loan and Advances

50.660

121.947

73.192

(e) Other Non-current assets

1.674

0.392

0.660

Total Non-Current Assets

192.435

144.341

96.228

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

24.133

18.963

28.402

(c) Trade receivables

117.778

87.492

88.946

(d) Cash and cash equivalents

15.687

6.725

11.806

(e) Short-term loans and advances

20.972

12.973

4.297

(f) Other current assets

0.118

0.195

0.145

Total Current Assets

178.688

126.348

133.596

 

 

 

 

TOTAL

371.123

270.689

229.824

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

 

Other Income

 

 

 

 

TOTAL

782.276

687.331

534.957

 

 

 

 

 

Less

TOTAL EXPENSES

737.111

660.403

(Including Financial Expenses)

512.579

(Including Financial Expenses)

 

 

 

 

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

NA

26.928

22.378

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 NA

3.980

3.358

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

45.165

22.948

19.020

 

 

 

 

 

Less

TAX

10.088

5.726

5.930

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

35.077

17.222

13.090

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

 87.500

76.773

69.758

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

 60.000

1.730

1.310

 

Dividend

 8.200

4.100

4.100

 

Tax on Dividend

 0.000

0.665

0.665

 

Balance Carried to the B/S (J+K+L-M)

68.200

87.500

76.773

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

27.750

8.205

6.414

 

TOTAL EARNINGS

27.750

8.205

6.414

 

 

 

 

 

 

IMPORTS

 

 

 

 

Trading Goods and Services

NA

17.176

3.552

 

Capital Goods

NA

0.000

0.057

 

TOTAL IMPORTS

NA

17.176

3.609

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

42.78

21.00

15.96

 

 

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 flow from operating activity

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Total Income)

(%)

4.48

2.51

2.45

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

12.72

8.78

8.56

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.34

0.22

0.20

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.76

0.63

0.53

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.05

1.11

1.32

 

 

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

8.200

8.200

8.200

Reserves & Surplus

85.176

97.633

124.510

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

93.376

105.833

132.710

 

 

 

 

long-term borrowings

31.442

46.369

63.290

Short term borrowings

18.372

20.709

37.473

Total borrowings

49.814

67.078

100.763

Debt/Equity ratio

0.533

0.634

0.759

 

 

 

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)

Total Income

534.957

687.331

782.276

 

 

28.483

13.814

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

534.957

687.331

782.276

Profit

13.090

17.222

35.077

 

2.45%

2.51%

4.48%

 

 

 

 

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

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

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 G-5/7, Laxmi Woollen Milleestate Sharti Mill Lane, Near Mahalaxmi Station, Mumbai – 400011, Maharashtra, India to the present address w.e.f. 19.05.2014

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Other Loans and Advances from related parties

 

 

From Directors

 

 

Non-Current Portion

2.900

15.950

Current Portion

2.360

0.000

From Shareholders

 

 

Non-Current Portion

23.990

29.115

Current Portion

5.600

7.750

Less: Current Portion

(14.233)

(10.706)

 

 

 

Total

20.617

42.109

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90156279

09/10/2013 *

110,000,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, DEVCHAND HOUSE, SHIVSA 
GAR ESTATE, WORLI, MUMBAI, Maharashtra - 400018, 
INDIA

B88550850

 

 

FIXED ASSETS

 

·         Computer System

·         Office and Other Equipments

·         Testing Equipment

·         Furniture and Fixture

·         Air Conditioners and Refrigerator

·         Vehicles

·         Electrical Fittings

·         Software

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

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

 

1]         INFORMATION ON DESIGNATED PARTY

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

 

2]         Court Declaration :

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

 

3]         Asset Declaration :

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

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

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

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

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

 

8]         Affiliation with Government :

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

 

9]         Compensation Package :

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

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

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

 

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

 

 

CONTRAVENTION

 

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

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.15

UK Pound

1

Rs.100.53

Euro

1

Rs.73.97

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SUD

 

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

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--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

 

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

 

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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