MIRA INFORM REPORT
|
Report No. : |
342278 |
|
Report Date : |
25.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TEJORA TECHNOLOGIES LIMITED (w.e.f. 08.04.2011) |
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Formerly Known
As : |
TEJORA TECHNOLOGIES PRIVATE LIMITED (w.e.f. 29.03.2011) RTENGINES SOFTWARE PRIVATE LIMITED |
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Registered
Office : |
Unit # 10-13, 3rd Floor, ‘A’ Wing, Prism Towers, Mindspace,
Goregaon (West), Mumbai – 400064, Maharashtra |
|
Tel. No.: |
91-22-40034222 / 40780842 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.04.2003 |
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Com. Reg. No.: |
11-140182 |
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Capital
Investment / Paid-up Capital : |
Rs.90.092 Million |
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CIN No.: [Company Identification
No.] |
U72900MH2003PLC140182 |
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IEC No.: |
0303010312 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCR4375E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged providing various Information Technology Services. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
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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 : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated on 28th April, 2003 and is based
in Mumbai, India. The company was promoted by Mr. Haridas R. Shenoy and his
son, Mr. Nitin H. Shenoy. It is engaged in providing various Information Technology
Services. It has satisfactory track record. Reserves of the company is low. However, management has reported a
significant improvement in its revenue base and profit during FY2014. The rating also takes into consideration extensive experience of
Tejora’s promoters in the information technology services industry. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB+ |
|
Rating Explanation |
Have inadequate credit quality and carry high credit risk. |
|
Date |
February 11, 2015 |
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 : |
Manoj Tibrewala |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-40034222 |
|
Date : |
23.09.2015 |
LOCATIONS
|
Registered Office / Headquarter Office : |
Unit # 10-13, 3rd Floor, ‘A’ Wing, Prism Towers, Mindspace,
Goregaon (West), Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-40034222 / 40780842 |
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Fax No.: |
91-22-40780891 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Nitin Haridas Shenoy |
|
Designation : |
Managing director |
|
Address : |
102, Ivory Heights, 2nd Cross Lane, Jhulelal Chowk, Lokhandwala, Andheri West, Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
09.06.1975 |
|
Date of Appointment : |
25.06.2011 |
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DIN No.: |
01394117 |
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|
|
|
Name : |
Mr. Neeshchal Naval Mehta |
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Designation : |
Director |
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Address : |
C/104, Highland Harmony, Mahavir Nagar, Kandivali, Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
25.05.1968 |
|
Date of Appointment : |
25.06.2011 |
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DIN No.: |
00128406 |
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|
|
|
Name : |
Mr. Chhotulal Rawa Bhagwat |
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Designation : |
Director |
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Address : |
Flat No.104, 1st Floor, Neha Apartment, Plot No.7, Sector No.20C, Airoli, Navi Mumbai – 400708, Maharashtra, India |
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Date of Birth/Age : |
01.06.1962 |
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Date of Appointment : |
25.06.2011 |
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DIN No.: |
03534822 |
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|
|
|
Name : |
Mr. Hemant Kishangopal Sanganeria |
|
Designation : |
Director |
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Address : |
8/15, Piramal Nagar, S.V. Road, Goregaon West, Mumbai – 400062,Maharashtra, India |
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Date of Birth/Age : |
29.09.1975 |
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Date of Appointment : |
09.08.2012 |
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DIN No.: |
05345869 |
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|
|
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Name : |
Mr. Abbhijet Ghag |
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Designation : |
Director |
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Address : |
802 8 Sun Tower Chs, G.D.Ambekar Road Parel, Mumbai, 400012, Maharashtra, India |
|
Date of Appointment : |
15.01.2015 |
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DIN No.: |
01993457 |
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|
|
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Name : |
Mr. Surabhi Nitin Shenoy |
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Designation : |
Director |
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Address : |
Plot No. 1 S.No. 41 (Part), Ivory Heights, Lokhandwala Complex, Andheri West, Mumbai - 400053, Maharashtra, India |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
02293497 |
KEY EXECUTIVES
|
Name : |
Manoj Tibrewala |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Nitin Haridas Shenoy |
4569417 |
50.72 |
|
Dominic Romell |
1917855 |
21.29 |
|
Meera Haridas Shenoy |
645150 |
7.16 |
|
Surabhi Nitin Shenoy |
586500 |
6.51 |
|
Haridas Shenoy |
293250 |
3.25 |
|
Ganesh Ramani |
293250 |
3.25 |
|
Isaac Nadar |
293250 |
3.25 |
|
Mahesh Chotrani |
293250 |
3.25 |
|
Ravindra Atmaram Godbole |
58650 |
0.65 |
|
Kalyani Ravindra Godbole |
58650 |
0.65 |
|
Total |
9009222 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
68.95 |
|
Other top fifty shareholders |
31.05 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged providing various Information Technology Services. |
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Products / Services : |
Various Information Technology Services
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Services |
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Countries : |
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Imports : |
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Products : |
Machinery |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
N R Tibrewala and Associates Chartered Accountants |
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Address : |
305, D'definity, Jayprakash Nagar, Road No.1, Above cosmos bank, Goregoan (East), Mumbai - 400 063, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAPT6810F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9009222 |
Equity Shares |
Rs.10/- each |
Rs.90.092
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 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
90.092 |
90.092 |
90.092 |
|
(b) Reserves & Surplus |
76.703 |
53.920 |
49.073 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
166.795 |
144.012 |
139.165 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
161.278 |
170.939 |
78.279 |
|
(b) Deferred tax liabilities
(Net) |
16.632 |
3.390 |
5.220 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
136.832 |
2.152 |
1.874 |
|
Total
Non-current Liabilities (3) |
314.742 |
176.481 |
85.373 |
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(4) Current Liabilities |
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|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
162.430 |
537.390 |
87.928 |
|
(c) Other current liabilities |
78.376 |
3.181 |
0.297 |
|
(d) Short-term provisions |
16.834 |
12.263 |
15.818 |
|
Total
Current Liabilities (4) |
257.640 |
552.834 |
104.043 |
|
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|
|
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TOTAL |
739.177 |
873.327 |
328.581 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
|
|
|
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(i) Tangible assets |
209.375 |
40.447 |
54.887 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
3.150 |
3.150 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
4.995 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
11.515 |
11.594 |
13.470 |
|
Total
Non-Current Assets |
224.040 |
55.191 |
73.352 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
5.625 |
26.661 |
|
(b) Inventories |
69.944 |
0.635 |
0.000 |
|
(c) Trade receivables |
302.702 |
474.881 |
92.715 |
|
(d) Cash and cash equivalents |
102.459 |
83.109 |
67.335 |
|
(e) Short-term loans and
advances |
7.412 |
2.773 |
13.430 |
|
(f) Other current assets |
32.620 |
251.113 |
55.088 |
|
Total
Current Assets |
515.137 |
818.136 |
255.229 |
|
|
|
|
|
|
TOTAL |
739.177 |
873.327 |
328.581 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
1408.905 |
1078.735 |
918.732 |
|
|
Other Income |
(0.149) |
19.093 |
16.703 |
|
|
TOTAL
(A) |
1408.756 |
1097.828 |
935.435 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1245.602 |
979.499 |
824.499 |
|
|
Employees benefits expense |
43.868 |
37.728 |
40.273 |
|
|
Other expenses |
32.891 |
40.467 |
30.238 |
|
|
TOTAL
(B) |
1322.361 |
1057.694 |
895.010 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
86.395 |
40.134 |
40.425 |
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
19.206 |
10.531 |
2.316 |
|
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|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
67.189 |
29.603 |
38.109 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
21.691 |
17.890 |
19.342 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
45.498 |
11.713 |
18.767 |
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|
|
|
|
|
Less |
TAX (H) |
22.714 |
6.866 |
6.843 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
22.784 |
4.847 |
11.924 |
|
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EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
532.154 |
1.825 |
0.000 |
|
|
TOTAL
EARNINGS |
532.154 |
1.825 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.53 |
0.54 |
1.32 |
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) operations |
45.390 |
(91.542) |
35.358 |
|
Net cash flow from operating activity |
35.918 |
(99.664) |
28.514 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.62 |
0.45 |
1.30 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.13 |
3.72 |
4.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.18 |
1.35 |
5.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.08 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.97 |
1.19 |
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.00 |
1.48 |
2.45 |
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 |
90.092 |
90.092 |
90.092 |
|
Reserves & Surplus |
49.073 |
53.920 |
76.703 |
|
Net
worth |
139.165 |
144.012 |
166.795 |
|
|
|
|
|
|
long-term borrowings |
78.279 |
170.939 |
161.278 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
78.279 |
170.939 |
161.278 |
|
Debt/Equity
ratio |
0.562 |
1.187 |
0.967 |
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 |
918.732 |
1078.735 |
1408.905 |
|
|
|
17.416 |
30.607 |
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 |
918.732 |
1078.735 |
1408.905 |
|
Profit |
11.924 |
4.847 |
22.784 |
|
|
1.30% |
0.45% |
1.62% |
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 |
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) |
Yes |
|
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 |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
The main business is to render engineering and IT service to customers across various industry verticals in specific service horizontals. Tejora Technologies Private Limited core offerings are in product engineering, Application software, Electronic Design, Testing and Enterprise Business service.
Through IT- enabled services, the Company provides offshore based employee resourcing, marketing and pre-sales support services to its subsidiaries.
PERFORMANCE REVIEW:
Revenue from Project Export Sales as well as Software sales and development in this reporting year has shoved the Company to earn substantial revenues. Despite Global Recessionary Conditions, your Company's income from operations has increased to Rs. 1408.905 Million as against Rs. 1078.735 Million in the previous year, registering a growth of 30.61% over the previous year, reporting a profit after tax at Rs. 22.783 Million as compared to Rs.4.847 Million in the previous financial year. This shows the trend that the profits of the company has been increasing tremendously.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10347139 |
30/03/2013 * |
150,000,000.00 |
DENA BANK |
S.V. Road, Malad (West), Mumbai, Maharashtra - 400064, INDIA |
B81958563 |
FIXED ASSETS
- Land
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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.65.96 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
2 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.