MIRA INFORM REPORT
|
Report No. : |
341902 |
|
Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
REDIFF. COM INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
REDIFF COMMUNICATION LIMITED (w.e.f.29.05.1998) REDIFF COMMUNICATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Mahalaxmi Engineering Estate, L. J. First Cross
Road, Mahim (West), Mumbai – 400016, Maharashtra |
|
Tel. No.: |
91-22-61820000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.01.1996 |
|
|
|
|
Com. Reg. No.: |
11-096077 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 74.051 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22100MH1996PLC096077 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR2762F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Online Internet based Services. |
|
|
|
|
No. of Employees
: |
100 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is one of the premier worldwide online portals which provide
news, information, mailing and shopping services. It is a well-established company having a satisfactory track record. The company has incurred continuous losses from its operations since
2012, however net worth position of the company is adequate. Further, rating factors in debt free capital structure of the company
in FY14. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow and delayed. The company can be considered for normal 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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Amrapali |
|
Designation : |
Sales Executive |
|
Contact No.: |
91-22-61820000 |
|
Date : |
19.09.2015 |
LOCATIONS
|
Registered Office : |
1st Floor, Mahalaxmi Engineering Estate, L. J. First Cross
Road, Mahim (West), Mumbai – 400016, Maharashtra , India |
|
Tel. No.: |
91-22-61820000 |
|
Fax No.: |
91-22-24455346 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Offices : |
Located At ·
·
|
|
|
|
|
Overseas Office: |
US Office |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Ajit Balakrishanan |
|
Designation : |
Managing director |
|
Address : |
801, Bakhtawar, Opposite Colaba Post Office, Mumbai –
400005, Maharashtra, India |
|
Date of Birth/Age : |
22.07.1948 |
|
Qualification : |
MBA- I IM, Calcutta |
|
Date of Appointment : |
09.01.1996 |
|
PAN No.: |
ABPPB9130N |
|
DIN No.: |
00073814 |
|
|
|
|
Name : |
Mr. Arun Nanda |
|
Designation : |
Director |
|
Address : |
Row House No.11, Grand Paradi, 572, Dadyseth Hill Augustkranti
Marg, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
20.08.1943 |
|
Qualification : |
IIM, Calcutta |
|
Date of Appointment : |
09.01.1996 |
|
PAN No.: |
AARPN6405D |
|
DIN No.: |
00034744 |
|
|
|
|
Name : |
Mr. Sunil Nawal Phatarphekar |
|
Designation : |
Director |
|
Address : |
6-W, Navroze Apartment, 35 Bhulabhai Desai Road, Mumbai –
400026, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1963 |
|
Qualification : |
LLB |
|
Date of Appointment : |
26.02.1998 |
|
DIN No.: |
00005164 |
|
|
|
|
Name : |
Mr. Ashok Narasimhan |
|
Designation : |
Director |
|
Address : |
No.13505 Burke Road, LOS Altos Hill, CA 94022 US, USA |
|
Date of Birth/Age : |
10.04.1948 |
|
Qualification : |
BSC |
|
Date of Appointment : |
25.06.2002 |
|
DIN No.: |
00981944 |
|
|
|
|
Name : |
Mr. Sridar Arvamudhan Iyengar |
|
Designation : |
Director |
|
Address : |
85, Fair Oaks Lane, Atherton, USA 94027 |
|
Date of Birth/Age : |
13.08.1947 |
|
Qualification : |
CA ? England and Wales |
|
Date of Appointment : |
28.09.2004 |
|
DIN No.: |
00278512 |
|
|
|
|
Name : |
Mr. Rashesh Chandrakant Shah |
|
Designation : |
Director |
|
Address : |
B-233 10th Floor, Kalpataru Horizon-B S K Ahire
Marg Worli, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
30.09.1963 |
|
Qualification : |
IIM, Ahmedabad |
|
Date of Appointment : |
26.04.2006 |
|
DIN No.: |
00008322 |
|
|
|
|
Name : |
Mr. Maniedath Madhavan Nambiar |
|
Designation : |
Director |
|
Address : |
No. 3, 3rd Street, Nawab Habibullah Avenue,
Chennai – 600006, Tamilnadu, India |
|
Date of Birth/Age : |
09.11.1950 |
|
Qualification : |
IAS |
|
Date of Appointment : |
24.01.2012 |
|
DIN No.: |
03487311 |
KEY EXECUTIVES
|
Name : |
Ms. Amrapali |
|
Designation : |
Sales Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Ajit Balkrishnan |
1100190 |
|
Arun N. Nanda |
622370 |
|
R K Sukumar |
2 |
|
Shivdas T Nair |
2 |
|
P |
2 |
|
Rediffusion Holdings Private Limited, |
2200002 |
|
K Subharaman |
2 |
|
Citicorp Finance India Limited, India |
192720 |
|
Pacific Century Cyber Works India Private Limited, India |
530000 |
|
Citibank Na Newyork Nyadr Department, New York |
4647978 |
|
Quintrol Technologies Private Limited, India |
144540 |
|
Sunil Phatarphekar |
6000 |
|
Ashok Narasimhan |
6000 |
|
Edelweiss Finance and Investments Limited, India |
1523000 |
|
Rediff. Com India Limited Employee Trust, India |
1015000 |
|
Arun N Nanda |
622370 |
|
Draper International India LP |
2178000 |
|
Draper International Management LP |
22000 |
|
Total |
14810178 |
AS ON 29.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
14.86 |
|
Bodies
corporate |
30.99 |
|
Directors
or relatives of directors |
15.91 |
|
Other
top fifty shareholders |
31.39 |
|
Others |
6.85 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Providing Online Internet based Services. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
-- |
||||
|
|
|
||||
|
Agencies Held : |
-- |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
-- |
||||
|
Countries : |
-- |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
-- |
||||
|
Countries : |
-- |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Depend |
||||
|
|
|
||||
|
Purchasing : |
Depend |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Others
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· HDFC Bank Limited Mumbai, Maharashtra, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
-- |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Indiabulls
Finance Centre, Tower 3, 27th -32nd Floor, Elphinstone Mill Compound, Senapati
Bapat Marg, Elphinstone (West), Mumbai-400013, Maharashtra, India |
|
E-Mail : |
AACFD4815A |
|
Income-tax
PAN of auditor or auditor's firm : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiary Companies : |
·
Rediff Holdings Inc. ·
Value Communications Corporation ·
Vubites India Private Limited
[U72900MH2007PTC168009] |
|
|
|
|
Associate Companies : |
·
Rediff.com Inc. ·
India Abroad Publication Inc. ·
Tachyon Technology Private Limited (U72200TN2000PTC046139) |
|
|
|
|
Other Related Party : |
Rediff.com India
Limited Employee Trust |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000000 |
Equity Shares |
Rs. 5/- each |
Rs. 120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14810178 |
Equity Shares |
Rs. 5/- each |
Rs. 74.051
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 |
74.051 |
74.051 |
74.051 |
|
(b) Reserves & Surplus |
1221.124 |
1940.628 |
2469.313 |
|
(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) |
1295.175 |
2014.679 |
2543.364 |
|
|
|
|
|
|
(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 |
19.188 |
11.804 |
12.948 |
|
(d)
long-term provisions |
55.930 |
56.804 |
47.554 |
|
Total
Non-current Liabilities (3) |
75.118 |
68.608 |
60.502 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
185.936 |
197.396 |
142.831 |
|
(c)
Other current liabilities |
161.359 |
145.094 |
162.706 |
|
(d)
Short-term provisions |
8.207 |
7.445 |
6.366 |
|
Total
Current Liabilities (4) |
355.502 |
349.935 |
311.903 |
|
|
|
|
|
|
TOTAL |
1725.795 |
2433.222 |
2915.769 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
80.922 |
141.935 |
189.824 |
|
(ii)
Intangible Assets |
96.713 |
90.372 |
82.762 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
36.640 |
46.762 |
55.896 |
|
(b) Non-current
Investments |
54.922 |
68.076 |
349.259 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
312.459 |
789.304 |
669.872 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
581.656 |
1136.449 |
1347.613 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
165.543 |
179.923 |
282.024 |
|
(d)
Cash and cash equivalents |
940.809 |
1075.348 |
1225.820 |
|
(e)
Short-term loans and advances |
37.787 |
41.502 |
60.312 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1144.139 |
1296.773 |
1568.156 |
|
|
|
|
|
|
TOTAL |
1725.795 |
2433.222 |
2915.769 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
784.381 |
673.034 |
778.704 |
|
|
|
Other Income |
124.534 |
183.251 |
125.782 |
|
|
|
TOTAL |
908.915 |
856.285 |
904.486 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
346.925 |
377.621 |
360.002 |
|
|
|
Other expenses |
727.497 |
599.120 |
663.542 |
|
|
|
TOTAL |
1074.422 |
976.741 |
1023.544 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(165.507) |
(120.456) |
(119.058) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
(165.507) |
(120.456) |
(119.058) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
139.709 |
153.416 |
129.905 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
(421.138) |
(266.184) |
(224.059) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(726.354) |
(540.056) |
(473.022) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(726.354) |
(540.056) |
(473.022) |
|
|
|
|
|
|
|
|
|
|
Earnings/
(Loss) Per Share (Rs.) |
(49.04) |
(36.47) |
(32.02) |
|
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) Operations |
(99.052) |
(38.734) |
(168.724) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(92.60) |
(80.24) |
(60.74) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(21.10) |
(17.90) |
(15.29) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(44.45) |
(23.29) |
(18.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.56) |
(0.27) |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.22 |
3.71 |
5.03 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
74.051 |
74.051 |
74.051 |
|
Reserves & Surplus |
2469.313 |
1940.628 |
1221.124 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2543.364 |
2014.679 |
1295.175 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
778.704 |
673.034 |
784.381 |
|
|
|
(13.570) |
16.544 |
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 |
778.704 |
673.034 |
784.381 |
|
Profit/ (Loss) |
(473.022) |
(540.056) |
(726.354) |
|
|
(60.74%) |
(80.24%) |
(92.60%) |
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 |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
FIXED ASSETS
Tangible Assets
·
Furniture and Fixtures
·
Computers
·
Office Equipments
·
Computer Equipments
·
Vehicles
·
Leasehold Improvements
·
Other Equipments
Intangible Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 65.63 |
|
|
1 |
Rs. 101.73 |
|
Euro |
1 |
Rs. 73.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.