MIRA INFORM REPORT
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Report No. : |
341272 |
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Report Date : |
18.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPEEDON NETWORK LIMITED |
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Formerly Known
As : |
STERLITE NETWORKS LIMITED |
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Registered
Office : |
Survey No. 68/1, Rakholi Village, Madhuban Dam Road, Silvassa-396230, Dadar Nagar Haveli |
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Mobile No.: |
91-9560055505 (Mr. Mohit) |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
11.07.2011 |
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Com. Reg. No.: |
54-000373 |
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Capital
Investment / Paid-up Capital : |
Rs. 15.500 Million |
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CIN No.: [Company Identification
No.] |
U32202DN2011PLC000373 |
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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.] |
AAQCS0890M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged
into telecom infrastructure business. |
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No. of Employees
: |
Information declined by the management |
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 : |
Subject was incorporated on 11th July, 2011. It has
moderate track record. The rating takes into consideration hefty debt level which creates
risk to liquidity position of the company. The company has incurred loss from
its operations during FY2014. However, the company has been successful in
wiping off its accumulated losses of previous year. Trade relations are fair. Business is active. Payment terms are 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 DENIED BY
|
Name : |
Mr. Mohit Saxena |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9560055505 |
|
Date : |
16.09.2015 |
LOCATIONS
|
Registered Office : |
Survey No. 68/1, Rakholi Village, Madhuban Dam Road, Silvassa-396230, Dadar Nagar Haveli |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9560055505 (Mr. Mohit) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Kattunga Srinivasa Rao |
|
Designation : |
Director |
|
Address : |
Bungalow No. 9, Deuxiem Enclave,, Satara Parisar, Paithan Road, Aurangabad-431001, Maharashtra, India |
|
Date of Birth/Age : |
05.06.1970 |
|
Date of Appointment : |
03.04.2012 |
|
DIN No.: |
00022533 |
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|
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|
Name : |
Mr. Pratik Pravin Agarwal |
|
Designation : |
Director |
|
Address : |
403-A, 3rd Floor, Samudra Mahal, A-Wing, Opposite Lotus, Dr. A.B. Road, Worli, Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
02.12.1982 |
|
Date of Appointment : |
11.07.2011 |
|
DIN No.: |
03040062 |
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Name : |
Mr. Anupam Jindal |
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Designation : |
Director |
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Address : |
C-603, Copacabana, Fortleza, Kalyaninagar, Pune-411006, Maharashtra, India |
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Date of Birth/Age : |
21.07.1975 |
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Date of Appointment : |
03.04.2012 |
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DIN No.: |
03040078 |
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|
Name : |
Mr. Anand Seenivasagan |
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Designation : |
Whole-Time Director |
|
Address : |
1C, 801, Divyasree Elan Homes,Sarjapura Main Road,, Opp Total Mall Kaikondrahall, Carmelaram Banglore, Banglore-560035, Karnataka, India |
|
Date of Appointment : |
28.01.2015 |
|
DIN No.: |
07081405 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sterlite Technologies Limited |
|
1549994 |
|
Sterlite Technologies Limited J/W Pravin Agarwal |
|
1 |
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Sterlite Technologies Limited J/W Dr. Anand Agarwal |
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1 |
|
Sterlite Technologies Limited J/W Pratik Agarwal |
|
1 |
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Sterlite Technologies Limited J/W K S Rao |
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1 |
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Sterlite Technologies Limited J/W Anupam Jindal |
|
1 |
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Sterlite Technologies Limited J/W Pankaj Priyadarshini |
|
1 |
|
Total |
|
1550000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged into telecom infrastructure business. |
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Products : |
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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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Facilities : |
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Financial
Institution : |
Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli,, Mumbai - 400025, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
SRBC and Company LLP Chartered Accountants |
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Address : |
C-401,4th Floor, Panchshil Tech Park, Yerwada (Near Don Bosco School), Pune, Maharashtra – 411006, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ABSFS4151K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company : |
Sterlite Technologies Limited CIN No.: L31300DN2000PLC000340 |
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Fellow subsidiary: |
Maharashtra Transmission Communication Infrastructure Limited CIN No.: U64201MH2012PLC234316 |
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Related parties
where control exists : |
Sterlite Technologies Limited ('STL') (Immediate holding company) Twinstar Overseas Limited, Mauritius (Intermediate holding company) Volcan Investments Limited, Bahamas (Ultimate holding company) |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,550,000 |
Equity Shares |
Rs.10/- each |
Rs. 15.500
Million |
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|
|
|
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 |
15.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
60.542 |
(43.095) |
(0.348) |
|
(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) |
76.042 |
(42.595) |
0.152 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1125.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
81.442 |
5.977 |
0.000 |
|
(d) long-term
provisions |
2.555 |
2.073 |
0.000 |
|
Total Non-current
Liabilities (3) |
1208.997 |
8.050 |
0.000 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
38.460 |
525.130 |
41.010 |
|
(b) Trade payables |
38.554 |
2.372 |
0.293 |
|
(c) Other
current liabilities |
90.586 |
279.972 |
94.459 |
|
(d) Short-term
provisions |
3.185 |
0.169 |
0.000 |
|
Total Current
Liabilities (4) |
170.785 |
807.643 |
135.762 |
|
|
|
|
|
|
TOTAL |
1455.824 |
773.098 |
135.914 |
|
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|
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II.
ASSETS |
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|
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|
(1)
Non-current assets |
|
|
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(a) Fixed
Assets |
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|
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(i)
Tangible assets |
886.327 |
488.220 |
0.000 |
|
(ii)
Intangible Assets |
33.351 |
27.246 |
0.000 |
|
(iii)
Capital work-in-progress |
191.776 |
180.884 |
119.004 |
|
(iv)
Intangible assets under development |
0.000 |
0.900 |
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 |
86.590 |
2.121 |
12.267 |
|
(e) Other
Non-current assets |
4.744 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1202.788 |
699.371 |
131.271 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
165.810 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
29.839 |
18.549 |
0.000 |
|
(d) Cash
and cash equivalents |
1.749 |
0.324 |
0.558 |
|
(e)
Short-term loans and advances |
46.670 |
53.416 |
4.085 |
|
(f) Other
current assets |
8.968 |
1.438 |
0.000 |
|
Total Current
Assets |
253.036 |
73.727 |
4.643 |
|
|
|
|
|
|
TOTAL |
1455.824 |
773.098 |
135.914 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
63.119 |
11.283 |
0.000 |
|
|
|
Other Income |
5.829 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
68.948 |
11.283 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
1.011 |
5.729 |
0.000 |
|
|
|
Employees benefits expense |
53.756 |
10.033 |
0.019 |
|
|
|
Other expenses |
82.984 |
15.526 |
0.328 |
|
|
|
TOTAL (B) |
137.751 |
31.288 |
0.347 |
|
|
|
|
|
|
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|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(68.803) |
(20.005) |
(0.3470 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
92.259 |
0.366 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(161.062) |
(20.371) |
(0.348) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
94.801 |
22.375 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(255.863) |
(42.746) |
(0.348) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(255.863) |
(42.746) |
(0.348) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(345.57) |
(854.93) |
(6.96) |
|
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 flows from (used in) operation |
(100.735) |
(30.313) |
(3.672) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(405.37) |
(378.85) |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(109.01) |
(177.30) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(20.24) |
(7.23) |
(2.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(3.36) |
1.00 |
(2.29) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
15.30 |
(12.33) |
269.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48 |
0.09 |
0.03 |
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 |
15.500 |
|
Reserves & Surplus |
(0.348) |
(43.095) |
60.542 |
|
Net
worth |
0.152 |
(42.595) |
76.042 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
1125.000 |
|
Short term borrowings |
41.010 |
525.130 |
38.460 |
|
Total
borrowings |
41.010 |
525.130 |
1163.460 |
|
Debt/Equity
ratio |
269.803 |
(12.328) |
15.300 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operations |
11.283 |
63.119 |
|
|
|
459.417 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operations |
11.283 |
63.119 |
|
Profit |
(42.746) |
(255.863) |
|
|
(378.85%) |
(405.37%) |
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 |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
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 two years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last two years 9 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 |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
375.000 |
0.000 |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
38.460 |
525.130 |
|
|
|
|
|
Total |
413.460 |
525.130 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10475211 |
16/01/2014 |
1,750,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar
Marg, Worli,, Mumbai, Maharashtra - 400025, INDIA |
B95351144 |
* Date of charge modification
BUSINESS OPERATIONS
The business of the Company is to lay telecom network i.e, to deploy active and passive equipments of last mile and backhaul telecom infrastructure (wire-line) aimed at facilitating the delivery of Voice, Video, Text, Data Services and other related telecom and media services by various service providers to business and households on payment basis.
REVIEW OF OPERATIONS AND FUTURE OUTLOOK:
The Company being
into telecom infrastructure business is rapidly growing by providing
'Fiber-to-the-Premise (FTTP)' networks on Open Access model in Telecom last
mile in chosen clusters (micro-markets) in top cities of India. It leases to
carriers of High speed Internet, Voice, Video and Value added services. The
networks connect high rise Multi Dwelling Units (MDUs) and provide connectivity
for 3G / 4G Base Stations (BTS) backhaul. The FTTP network is also used for
providing Mobile data off-loading through Wi fi and enhanced In-Building
coverage through fibre based Distributed Antenna System (iBS/DAS).
The Company
operates in 7 major cities Mumbai, Bangalore, Chennai, Delhi, Noida, Ahmedabad
and Pune connecting 1,30,000 homes with 25000 revenue generating homes, with
99.17% network uptime. Thereby, targeting to achieve 1,82,000 ready for service
homes and 75,000 revenue generating homes in the forthcoming year.
In order to set up
a state-of-the-art Fixed Line Open Access Fibre Network architecture for
connecting many households for ensuring faster bandwidth at various locations across
India, a Rupee Term Loan facility from Bank of India (BoI) was availed,
amounting to Rs. 1750.000 Million with the terms and conditions as set out in
the Sanction Letter.
During the year,
the authorized capital of the Company has been increased from Rs. 0.500
Million/- to Rs. 50.000 Million following an increase in paid-up capital from
Rs. 0.500 Million to Rs. 15.500 Million A big development in the Project is
seen where the Company has obtained its Infrastructure Provider-1 (IP-1)
registration certificate in the month of March 2014.
The Company had
filed 45 Trademark applications for the mark FiON, 16 domestic and 5
international applications for Patents, of which many have been published.
During the year,
the Company incurred a net loss of Rs. 2,55.863 Million for the financial year
2013-14. The company is planning to adopt various strategies and plans in order
to improve the performance and profitability of the Company.
The business of the
Company is to lay telecom network i.e, to deploy active and passive equipments
of last mile and backhaul telecom infrastructure (wire-line) aimed at
facilitating the delivery of Voice, Video, Text, Data Services and other
related telecom and media services by various service providers to business and
households on payment basis.
FIXED ASSETS
- Land
- Building
- Plant and machinery
- Furniture and fixture
- Vehicle
- Computer
- Office equipment
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.66.50 |
|
|
1 |
Rs.101.98 |
|
Euro |
1 |
Rs.75.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
JYTK/ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
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.