MIRA INFORM REPORT
|
Report No. : |
346907 |
|
Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
VODAFONE SHARED SERVICES LIMITED (w.e.f 15.10.2011) |
|
|
|
|
Formerly Known
As : |
VODAFONE ESSAR SHARED SERVICES LIMITED |
|
|
|
|
Registered
Office : |
Vodafone House, Corporate Road, Prahlad Nagar, Off. S.G. Highway,
Ahmedabad - 380051, Gujarat |
|
Tel. No.: |
91-79-71710899 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
24.09.2009 |
|
|
|
|
Com. Reg. No.: |
04-058189 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900GJ2009PLC058189 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCV1145K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Subject is an outsourcing hub for finance and accounts, human resources, supply chain management and catering IT needs for data consolidation, backend IT supports, datacenter operations and hosting services |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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|
|
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of Vodafone India Limited, the second largest mobile network operator in India and a 100% subsidiary of Vodafone Group. Vodafone Shared Services India is a multi-function shared service centre that started out as a Customer Operations provider to Vodafone India. It is a part of the global Vodafone Shared services organisation that operates out of Hungary, Egypt, Romania, and India. Moreover, Vodafone Group Plc is a British multinational telecommunications company headquartered in London. It ranked amongst 22nd in fortune 500 company with brand name value of USD 27,287 million and enterprise value of USD 135,011 million. With respect to the operations of Vodafone Shared Services Limited, the company has reduced its losses to Rs. 0.200 million during FY 2014 against the previous year loss of Rs. 0.300 million due to lower administration and other expenses. Further, due to losses incurred in the preceding years, net worth of the company has been affected and has been fully eroded as on 31st March 2014. However, with respect to the global operations, Vodafone has strong market position in the telecommunications industry backed by its diversified portfolio along with global footprints in mobile network segment and decent brand recognition. Further, rating remains susceptible to risks relating to regulatory and technological changes. In view of strong holding support, company can be considered good for any 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 DECLINED
Management non-corporative (91-79-71710899)
LOCATIONS
|
Registered Office : |
Vodafone House, Corporate Road, Prahlad Nagar, Off. S.G. Highway,
Ahmedabad - 380051, Gujarat, India |
|
Tel. No.: |
91-79-71710899 |
|
Fax No.: |
91-79-71710898 |
|
E-Mail : |
sudhakar.shetty@vodafone.com |
DIRECTORS
As on 21.08.2014
|
Name : |
Mr. Nitin Chopra |
|
Designation : |
Director |
|
Address : |
A-401 Quantum Park, Union Park, Khar West, Mumbai - 400052, Maharashtra, India |
|
Date of Appointment : |
20.03.2015 |
|
DIN No.: |
00213333 |
|
|
|
|
Name : |
Mr. Venkatesh Viswanathan |
|
Designation : |
Director |
|
Address : |
604 Erbent Building, Building No. 4, Skyline Oasis, Premier Road, Vidyavihar, Ghatkopar (West), Mumbai - 400086, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1968 |
|
Date of Appointment : |
09.07.2010 |
|
DIN No.: |
03122706 |
|
|
|
|
Name : |
Sibaji Biswas |
|
Designation : |
Director |
|
Address : |
2213-14-15, Samarth Angan-3b, Oshiwara, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Appointment : |
19.12.2014 |
|
DIN No.: |
06959449 |
|
|
|
|
Name : |
Mr. Vikas Poddar |
|
Designation : |
Director |
|
Address : |
Apt 81, Tower A, Brooke Haven, Jvlr Rd, Andheri (East), Mumbai - 400060, Maharashtra, India |
|
Date of Appointment : |
19.12.2014 |
|
DIN No.: |
06986748 |
|
|
|
|
Name : |
Tripti Pande Desai |
|
Designation : |
Director |
|
Address : |
63, G Block 3, Charmswood, Village Fbd, Faridabad - 121009, Haryana, India |
|
Date of Appointment : |
20.03.2015 |
|
DIN No.: |
07129494 |
KEY EXECUTIVES
|
Name : |
Subhasish Maha Prosad Sarkar |
|
Designation : |
Chief Finance Officer |
|
Address : |
P-591/A, Purna Das Road, Sapat Boss Road, Kolkata - 700029, West Bengal, India |
|
Date of Appointment : |
20/03/2015 |
|
PAN No.: |
APJPS8676L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Vodafone India Limited, India |
|
49994 |
|
Vodafone East Limited Jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone South Limited Jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone Mobile Services Limited
Jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone West Limited Jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone Digilink Limited
Jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone Spacetel Limited Jointly with Vodafone India Limited, India |
|
1 |
|
|
|
|
|
Total |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on 21.08.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is an outsourcing hub for finance and accounts, human resources, supply chain management and catering IT needs for data consolidation, backend IT supports, datacenter operations and hosting services |
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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 : |
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 : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
"Heritage" 3rd Floor, Near Gujarat Vidhyapith Off Ashram Road, Ahmedabad - 380014, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD7919A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company: |
CIN No.:U32200MH1992PLC119108 |
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|
Fellow Subsidiary
Companies: |
CIN No.:U64201GJ1999PTC059542
CIN No.:U32100GJ1995PLC035282
CIN No.:U74899DL1995PLC074451
CIN No.:U64201DL1997PLC088088
CIN No.:U64202TZ1995PLC007674
CIN No.:U72200DL1997PLC085764
CIN No.:U32202MH1999PTC120818 |
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|
CAPITAL STRUCTURE
As on 21.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500
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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
(1924.722) |
(1640.083) |
(1287.694) |
|
(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) |
(1924.222) |
(1639.583) |
(1287.194) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2.729 |
4.879 |
4.461 |
|
(d) long-term
provisions |
59.413 |
45.973 |
43.158 |
|
Total Non-current
Liabilities (3) |
62.142 |
50.852 |
47.619 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
7222.300 |
5064.800 |
3357.300 |
|
(b) Trade
payables |
345.498 |
814.929 |
633.867 |
|
(c) Other
current liabilities |
353.663 |
303.782 |
290.491 |
|
(d) Short-term
provisions |
5.832 |
4.781 |
4.390 |
|
Total Current
Liabilities (4) |
7927.293 |
6188.292 |
4286.048 |
|
|
|
|
|
|
TOTAL |
6065.213 |
4599.561 |
3046.473 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1211.011 |
1367.902 |
1409.211 |
|
(ii)
Intangible Assets |
103.488 |
169.655 |
486.857 |
|
(iii)
Capital work-in-progress |
3203.655 |
746.291 |
328.333 |
|
(iv)
Intangible assets under development |
160.094 |
85.541 |
16.283 |
|
(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 |
952.028 |
1165.492 |
430.603 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
5630.276 |
3534.881 |
2671.287 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
52.491 |
862.614 |
115.549 |
|
(d) Cash
and cash equivalents |
137.806 |
124.556 |
9.992 |
|
(e) Short-term
loans and advances |
112.723 |
77.510 |
184.677 |
|
(f) Other
current assets |
131.917 |
0.000 |
64.968 |
|
Total
Current Assets |
434.937 |
1064.680 |
375.186 |
|
|
|
|
|
|
TOTAL |
6065.213 |
4599.561 |
3046.473 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
223.155 |
298.326 |
1089.720 |
|
|
Other Income |
0.000 |
0.000 |
25.911 |
|
|
TOTAL
|
223.155 |
298.326 |
1115.631 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
8.416 |
13.819 |
337.314 |
|
|
Exceptional Items |
(180.439) |
(434.799) |
0.000 |
|
|
Other expenses |
253.322 |
336.897 |
299.344 |
|
|
TOTAL
|
81.299 |
(84.083) |
636.658 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
141.856 |
382.409 |
478.973 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
288.123 |
282.163 |
345.388 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(146.267) |
100.246 |
133.585 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
138.373 |
452.635 |
574.860 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(284.640) |
(352.389) |
(441.275) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(284.640) |
(352.389) |
(441.275) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
3.064 |
NA |
NA |
|
|
TOTAL
EARNINGS |
3.064 |
NA |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
CIF Value Of Import |
77.017 |
NA |
NA |
|
|
TOTAL
IMPORTS |
77.017 |
NA |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(5692.80) |
(7047.78) |
(8825.50) |
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 |
(578.718) |
820.681 |
814.663 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(127.55) |
(118.12) |
(40.49) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
63.57 |
128.18 |
43.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.54) |
(9.35) |
(16.33) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.21 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(3.75) |
(3.09) |
(2.61) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.05 |
0.17 |
0.09 |
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
(1287.694) |
(1640.083) |
(1924.722) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(1287.194) |
(1639.583) |
(1924.222) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
3357.300 |
5064.800 |
7222.300 |
|
Total
borrowings |
3357.300 |
5064.800 |
7222.300 |
|
Debt/Equity
ratio |
(2.608) |
(3.089) |
(3.753) |
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 |
1089.720 |
298.326 |
223.155 |
|
|
|
(72.624) |
(25.198) |
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 |
1089.720 |
298.326 |
223.155 |
|
Profit |
(441.275) |
(352.389) |
(284.640) |
|
|
(40.49)% |
(118.12)% |
(127.55)% |
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 |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
Subjetc is an outsourcing hub for finance and accounts, human resources, supply chain management and catering IT needs for data consolidation, backend IT supports, datacenter operations and hosting services. All these services are rendered to the group companies.
OPERATIONS
During the year, loss for the year of the Company has reduced to Rs. 284.640 Million from Rs.352.389 Million due to lower administration and other expenses, lower depreciation and amortisation and better productivity.
Further, during the year, the company has started the construction work on the acquired land in Navi Mumbai to build a Data Centre to provide various support services like hosting services, remote infra management services primarily to Vodafone and other Vodafone Group entities.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from others (Unsecured demand loan from it's Holding Company on which interest rate is in the range of 9.50% to 9.95%.) |
7222.300 |
5064.800 |
|
|
|
|
|
Total |
7222.300 |
5064.800 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer
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.64.95 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
44 |
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.