MIRA INFORM REPORT

 

 

Report No. :

346472

Report Date :

26.10.2015

 

IDENTIFICATION DETAILS

 

Name :

GENISYS INFORMATION SYSTEMS (INDIA) PRIVATE LIMITED

 

 

Registered Office :

Plot No. 33-36 and 43-46, Export Promotion Industrial Park, (EPIP), Whitefield, Bangalore – 560066, Karnataka

Tel. No.:

91-80-40321100

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

16.02.2005

 

 

Com. Reg. No.:

08-035621

 

 

Capital Investment / Paid-up Capital :

Rs. 6.095 Million

 

 

CIN No.:

[Company Identification No.]

U72200KA2005PTC035621

 

 

IEC No.:

Not Available

 

 

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 :

The Subject is engaged in rendering software development services to its associates, offering voice-based call centre services, offering implementation and training solutions for SAP users, supply of manpower.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 200000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 2005. It is engaged into IT services, offers key services like business intelligence (BI), data warehousing, system integration, application maintenance, testing, consulting and BPO services to small, medium as well as large firms mainly in USA, India and UK.

 

For the financial year ended 2014, the company possesses average scale of operations marked by top line growth of 5.3% on revenue of Rs. 601.170 million as compared to Rs. 570.883 million in previous year. It has achieved profitability margin of 9.5%.

 

Rating derives strength from significant reduction in the gearing levels on account of decline in debt levels, resulting in increase of reserve position.

 

Further rating takes into consideration extensive experience of its promoters and established relationship with reputed client like IBM, Fujitsu Siemens and Dell.

 

Trade relations are fair. Business is active. Payments are reported to be slow but correct.

 

In view of aforesaid, 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.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

Fund Based Limit = BB-

Rating Explanation

Inadequate-credit-quality and high credit risk

Date

September 2014

 

Rating Agency Name

ICRA

Rating

Non Fund Based = A4

Rating Explanation

Minimal degree of safety and very high credit risk

Date

September 2014

 

 

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

 

Name :

Mr. Nandkishore

Designation :

Finance Head

Contact No.:

91-80-40321100

Date :

24.10.2015

 

 

LOCATIONS

 

Registered Office :

Plot No. 33-36 and 43-46, Export Promotion Industrial Park, (EPIP), Whitefield, Bangalore – 560066, Karnataka, India

Tel. No.:

91-80-40321100

Fax No.:

91-80-40321500

Website :

http://www.genisys-group.com 

Location :

Industrial

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Palya Veeraraj Kumar Nilakanta Lingaraj Urs

Designation :

Director

Address :

2990 B, 12a Main Road, Hal 2nd Stage, Indiranagar, Bangalore – 560008, Karnataka, India

Date of Appointment :

16.02.2005

DIN No.:

01925749

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U72501KA1995PTC017439

GENISYS INTEGRATING SYSTEMS (INDIA) PRIVATE LIMITED

Director

24/03/1995

24/03/1995

20/11/2013

Active

NO

2

U70102KA1996PTC020668

WENTWORTH PROPERTIES (INDIA) PRIVATE LIMITED

Director

26/06/1996

26/06/1996

-

Strike off

NO

3

U72200KA2000PTC028224

EGENISYS CONSULTING (INDIA) PRIVATE LIMITED

Director

01/12/2000

01/12/2000

-

Strike off

NO

4

U72200KA2005PTC035621

Genisys Information Systems (India) Private Limited

Director

16/02/2005

16/02/2005

-

Active

NO

5

U72200KA2005PTC035620

Genisys Outsourcing Services (India) Private Limited

Director

16/02/2005

16/02/2005

-

Strike off

NO

 

 

Name :

Rabheru Ashokumar Jivraj

Designation :

Director

Address :

Old Cleeve, 84 Fulmer Drive, Gerrards Cross, Uk, Sl97he, United Kingdom

Date of Appointment :

16.02.2005

DIN No.:

02760197

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U72501KA1995PTC017439

GENISYS INTEGRATING SYSTEMS (INDIA) PRIVATE LIMITED

Director

24/03/1995

24/03/1995

-

Active

NO

2

U70102KA1996PTC020668

WENTWORTH PROPERTIES (INDIA) PRIVATE LIMITED

Director

20/06/1996

20/06/1996

31/03/2013

Strike off

NO

3

U72200KA2000PTC028224

EGENISYS CONSULTING (INDIA) PRIVATE LIMITED

Director

01/12/2000

01/12/2000

-

Strike off

NO

4

U72200KA2005PTC035621

Genisys Information Systems (India) Private Limited

Director

16/02/2005

16/02/2005

-

Active

NO

5

U72200KA2005PTC035620

Genisys Outsourcing Services (India) Private Limited

Director

16/02/2005

16/02/2005

31/03/2013

Strike off

NO

 

 

Name :

Mukkapuzha Nandakishore

Designation :

Director

Address :

Kamal No. 1/6 Ulsoor Road, Hanumanthappa Layout, Bangalore – 560042, Karnataka, India

Date of Appointment :

26.09.2013

DIN No.:

06700601

 

 

KEY EXECUTIVES

 

Name :

Mr. Nandkishore

Designation :

Finance Head

 

 

MAJOR SHAREHOLDERS

 

AS ON 29.09.2014

 

Names of  Equity Shareholders

 

No. of Shares

Rabheru Ashokumar Jivraj

 

9499

Rabheru Harshida

 

499

Genisys Software Limited, United Kingdom

 

1

Wentworth IT Recruitment Consultancy Services Limited, United Kingdom

 

1

 

 

 

Total

 

 10000

 

Names of Convertible Redeemable Preference Shareholder

 

No. of Shares

Rabheru Ashokumar Jivraj

 

599512

 

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Subject is engaged in rendering software development services to its associates, offering voice-based call centre services, offering implementation and training solutions for SAP users, supply of manpower.

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash, Cheque and Credit (30/60/90 days)

 

 

Purchasing :

Cash, Cheque and Credit (30/60/90 days)

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Not Divulged

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

50 (Approximately)

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

ITI ANCL Industrial Estate Branch Mahadepura, Whitefield Road, Bangalore – 560048, Karnataka, India

Person Name (With Designation)

Not Divulged

Contact Number

91-80-23511634

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Cash Credit = Rs. 265.000 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged
  • Vijaya Bank, Corporation Banking Branch, Mezzanine Floor, Head Office Building, No. 41/2, M. G. Road, Bangalore – 560001, Karnataka, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loan

25.500

58.400

 

 

 

SHORT TERM BORROWING

 

 

Working capital from State Bank of India

82.068

74.757

 

 

 

Total

107.568

133.157

 

NOTES

 

LONG TERM BORROWINGS

 

The company has availed of three terms loans from State Bank of India. The details of loans are as follows:

 

Term loan 1

 

Loan Sanctioned: Rs. 43.000 Million

 

Rate of Interest: 0.75% over State Bank Advance Rate (SBAR); penal interest at 2% per month, over normal rate payable in 16 monthly installments ending August, 2014.

 

Tenure: Payable in 16 monthly installments ending September, 2014.

 

Term loan 2

 

Loan Sanctioned: Rs. 28.000 Million

 

Rate of Interest: 0.75% over State Bank Advance Rate (SBAR); penal interest at 2% per month, over normal rate payable in 54 monthly installments ending September 2017.

 

Clear Term Loan

 

Loan Sanctioned: Rs. 20.500 Million

 

Rate of Interest: 0.75% over State Bank Advance Rate (SBAR)’ Penal interest at 2%, per month, over normal rate payable in 22 monthly installment ending February, 2015.

 

The term loans from State Bank of India is secured by hypothecation of equipments to be purchased and further, secured by pari passu charge with Axis Bank Limited of the landed property at plot No.32 and 47/50 n Sy. No. 154 Part Area, Whitefield, Bangalore and the personal guarantees of the directors and Genisys Integrating Systems (India) Private Limited, a company under the same management.

 

The company has not defaulted on repayment of loans and interest during the year.

 

SHORT TERM BORROWINGS

 

The working capital from State Bank of India is secured by hypothecation of receivables and other current asset of the company and, further, secured by an equitable mortgage of the landed property of plot No.33-36 and 43-46 at Sy No. 154 EPIP Area, Whitefield, Bangalore and the personal guarantees of the directors and Genisys Integrating Systems (India) Private Limited, a company under the same management.

 

Auditors :

 

Name :

Rajendra Rao and Associates

Chartered Accountant

Address :

GF-2, Greenery 16, Plain Street, Bangalore – 560001, Karnataka, India

Tel. No.:

91-80-22861247/22867191

E-Mail :

rajendrarao@vsnl.com

PAN No.:

AAXPR7818N

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.10/- each

Rs. 0.500 Million

2450000

Preference Shares

Rs. 10/- each

Rs. 24.500 Million

 

Total

 

Rs. 25.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/- each

Rs. 0.100 Million

599512

Preference Shares

Rs. 10/- each

Rs. 5.995 Million

 

Total

 

Rs. 6.095 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

6.095

6.095

6.095

(b) Reserves & Surplus

94.538

54.517

13.652

(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)

100.633

60.612

19.747

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

25.734

122.019

158.020

(b) Deferred tax liabilities (Net)

4.924

1.941

4.980

(c) Other long term liabilities

0.159

0.524

0.432

(d) long-term provisions

15.893

15.893

12.865

Total Non-current Liabilities (3)

46.710

140.377

176.297

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

82.068

74.757

84.696

(b) Trade payables

74.424

48.795

42.890

(c) Other current liabilities

66.698

89.656

102.635

(d) Short-term provisions

27.385

14.139

3.564

Total Current Liabilities (4)

250.575

227.347

233.785

 

 

 

 

TOTAL

397.918

428.336

429.829

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

47.840

55.867

71.051

(ii) Intangible Assets

0.870

3.529

6.632

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

32.219

31.919

36.331

(e) Other Non-current assets

0.000

4.215

0.000

Total Non-Current Assets

80.929

95.530

114.014

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

128.395

88.182

121.070

(d) Cash and cash equivalents

78.279

86.573

23.143

(e) Short-term loans and advances

85.693

141.180

111.902

(f) Other current assets

24.622

16.871

59.700

Total Current Assets

316.989

332.806

315.815

 

 

 

 

TOTAL

397.918

428.336

429.829

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

 

31.03.2013

31.03.2012

 

 

 

 

 

 

TOTAL INCOME                      

601.170

570.883

563.099

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL                                    

505.369

507.021

553.110

 

 

 

 

 

 

PROFIT BEFORE TAX

95.801

63.862

9.989

 

 

 

 

 

Less

TAX                                                                 

38.115

22.998

7.445

 

 

 

 

 

 

PROFIT AFTER TAX

57.686

40.864

2.544

 

 

 

 

 

 

Earnings Per Share (Rs.)

94.64

69.04

4.17

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

620.000

 

 

 

 

 

The above information has been parted by Mr. Nandkishore (Director)

 

 

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 (used in) operation

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

9.60

7.16

0.45

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

24.08

14.91

2.32

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.95

1.05

0.51

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.07

3.25

12.29

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.27

1.46

1.35

 

 

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

6.095

6.095

6.095

Reserves & Surplus

13.652

54.517

94.538

Share Application money pending allotment

0.000

0.000

0.000

Net worth

19.747

60.612

100.633

 

 

 

 

long-term borrowings

158.020

122.019

25.734

Short term borrowings

84.696

74.757

82.068

Total borrowings

242.716

196.776

107.802

Debt/Equity ratio

12.291

3.246

1.071

 

 

 

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

563.099

570.883

601.170

 

 

1.382

5.305

 

 

 

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

563.099

570.883

601.170

Profit

2.544

40.864

57.686

 

0.45%

7.16%

9.60%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

----

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

No

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

Yes

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 four 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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loan from companies – Inter corporate loans carry a blended rate of interest and do not have any specific repayment schedule

0.000

63.385

Loans from directors – loans from directors do not carry any interest and do not have any specific repayment schedule.

0.234

0.234

 

 

 

Total

0.234

63.619

 

 

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10219427

16/03/2011 *

265,000,000.00

STATE BANK OF INDIA

ITI ANCL INDUSTRIAL ESTATE BRANCH, MAHADEVAPURA, 
WHITEFIELD ROAD, BANGALORE,

Karnataka - 560048,

INDIA

B11752888

 

 

* Date of charge modification

 

 

FIXED ASSETS

 

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. 64.88

UK Pound

1

Rs. 99.89

Euro

1

Rs. 72.06

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

JYO

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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.