MIRA INFORM REPORT
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Report Date : |
08.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ASIA MOTORWORKS LIMITED |
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Formerly Known As : |
ASIA OIL ENERGY LIMITED |
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Registered Office : |
34 KM Milestone, |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Date of Incorporation : |
27.08.2002 |
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Com. Reg. No.: |
04-41192 |
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CIN No.: [Company
Identification No.] |
U11201GJ2002PLC041192 |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Designer and Manufacturer of High Tonnage Vehicles. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 15447000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Asia Motorworks Holdings Limited It is an
established company having satisfactory track. Trade relations are reported as
fair. Business is active. Payments are reported to be usually correct and as
per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Anirudh Bhuwalka |
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Designation : |
Director |
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Contact No.: |
91-22-67101501 |
LOCATIONS
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Registered Office/ Factory : |
34 KM Milestone, |
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Tel No.: |
91-2832-2437000-10 (10 Lines) |
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Fax No.: |
91-2832-243726/30/22-67101504 |
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E-Mail : |
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Website : |
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Head Office : |
C 25, |
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Tel. No.: |
91-22-67101501 / 02 |
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Fax No.: |
91-22-67101504 |
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E-Mail : |
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Corporate Office : |
7th Floor, Tower-1, Equinox Business Park (Peninsula Techno
Park), Off Bandra Kurla Complex, L.B.S. Marg, Mumbai – 400070, India |
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Tel. No.: |
91-22-40544545 |
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E-Mail : |
DIRECTORS
AS ON 26.09.2009
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Name : |
Mr. Anirudh Bhuwalka |
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Designation : |
Director |
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Address : |
Plot No. 5, |
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Date of Birth/Age : |
23.01.1975 |
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Date of Appointment : |
06.10.2003 |
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Name : |
Mr. Shashikant Nandkishore Ruia |
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Designation : |
Director |
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Address : |
67A, |
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Date of Birth/Age : |
23.12.1943 |
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Date of Appointment : |
19.05.2008 |
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Name : |
Mr. Venkataraman Venkatesan |
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Designation : |
Director |
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Address : |
F-401, The Atrium, Old No. 49, New No. 22, Kalakshetra Road,
Thiruvanmiyur, Chennai – 600 041, Tamil Nadu, India |
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Date of Birth/Age : |
09.10.1939 |
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Date of Appointment : |
19.05.2008 |
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Name : |
Mr. Jagannath Ranganathan |
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Designation : |
Director |
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Address : |
Old No. 106A, New No. 151, St. Mary’s Road, Chennai – 600 018, Tamil
Nadu, |
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Date of Birth/Age : |
07.12.1943 |
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Date of Appointment : |
19.05.2008 |
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Name : |
Mr. Shishir Agarwal |
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Designation : |
Director |
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Address : |
A-82, Ocean Gold Co-Operating Housing Society, |
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Date of Birth/Age : |
24.03.1956 |
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Date of Appointment : |
27.07.2009 |
KEY EXECUTIVES
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Name : |
Mr. Rajesh C Mangal |
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Designation : |
Chief Marketing officer |
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Email : |
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Name : |
Mr. Sayed Aijaz |
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Designation : |
Regional Sales Manager West |
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Email : |
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Name : |
Mr. Suvendu Moitra |
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Designation : |
Regional Sales Manager East |
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Email : |
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Name : |
Mr. Bala Murali |
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Designation : |
Regional Sales Manager South |
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Email : |
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Name : |
Mr. Raj Kumar Gupta |
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Designation : |
Regional Sales Manager North |
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Email : |
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Name : |
Mr. A Ramasubramanian |
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Designation : |
President |
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Name : |
Mr. G Subramanyam |
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Designation : |
Finance Director |
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Name : |
Mr. Deepak Thakur |
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Designation : |
COO |
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Name : |
Mr. Anil Singh |
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Designation : |
Executive Vice President, Research and Development |
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Name : |
Mr. Sham Prasad Ponkshe |
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Designation : |
Executive Vice President, Research and Development |
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Name : |
Mr. Sajal Gupta |
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Designation : |
Senior Vice President, Finance and Accounts |
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Name : |
Mr. T M Ragunath |
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Designation : |
Senior Vice President, HR and Admin |
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Name : |
Mr. M. Balasubramanian |
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Designation : |
Vice President, After Market |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2009
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Names of Shareholders |
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No. of Shares |
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Asia Motorworks Holdings Limited, |
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38842340 |
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Asia Motorworks Holdings Limited and Mr. Vijay K Dharia |
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10 |
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Asia Motorworks Holdings Limited and Mr. Shishir Agarwal |
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10 |
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Asia Motorworks Holdings Limited and Mr. N B Vyas |
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10 |
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Asia Motorworks Holdings Limited and Mr. S Shankaranarayanan |
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10 |
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Asia Motorworks Holdings Limited and Mr. G K Sathe |
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10 |
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Asia Motorworks Holdings Limited and Mr. Madan Mundhra |
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10 |
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Total |
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38842400 |
AS ON 26.09.2009
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Designer and Manufacturer of High Tonnage Vehicles. |
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Products : |
·
AMW Trucks ·
Press Line ·
Wheel Rims ·
Road Safety Systems |
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Terms : |
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Selling : |
Cash / Credit (30 days / 60 days) |
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Purchasing : |
Cash / Credit (30 days / 60 days) |
PRODUCTION STATUS AS ON 31.03.2009
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Particulars |
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Unit |
Installed
Capacity |
Actual
Production |
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Heavy Commercial Vehicles |
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NOS |
50000 |
2103 |
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Steel Fabrication |
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MT |
30000 |
6739* |
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Wheel Rim |
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NOS |
2450000 |
3593003 |
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Press Shop |
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MT |
50000 |
438832 |
Note:
- The Installed capacity is as certified by management
- *Includes Job Work Manufacturing Quantity of Nil (176 MT Previous
Year) done for others.
GENERAL INFORMATION
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Customers : |
End Users, OEM’s |
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No. of Employees : |
2500 (Approximately) |
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Bankers : |
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Facilities : |
Note: Terms and
conditions of Fully Convertible Debenture First Series 1. Each debenture shall automatically and compulsorily get converted into
equity shares of Rs.10/- each at such premium as may be agreed between the
issuer and the holder at the expiry of seven years from the date of allotment
i.e. 1st December, 2004. 2. The holder of the debenture shall have the option to convert into
equity shares of Rs.10/- each anytime after 1st December 2005 as may be
agreed between the issuer and the holder. 3. The company shall have the power to redeem the debentures at such
price as may be agreed with the. Debenture holders holding more than 90% of
the total value of the outstanding debenture. 4. The debenture shall not carry any interest. 5. The debenture shall not be listed on any stock exchange. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A P Rajagopalan and Company Chartered Accountant |
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Address : |
No. 8, 1st Floor, Neelkanth Shopping Arcade, Mumbai – 400
071, |
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Holding Company : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 26.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Share |
Rs.10/- each |
Rs.500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
38842400 |
Equity Share |
Rs.10/- each |
Rs.388.424
Millions |
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
26342400 |
Equity Shares |
Rs.10/- each |
Rs.263.424
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
263.420 |
263.420 |
136.450 |
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2] Share Application Money |
1231.000 |
449.900 |
229.240 |
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3] Reserves & Surplus |
2367.560 |
2351.510 |
1197.389 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3861.980 |
3064.830 |
1563.079 |
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LOAN FUNDS |
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1] Secured Loans |
7843.310 |
3643.320 |
1312.666 |
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2] Unsecured Loans |
1992.970 |
584.650 |
606.643 |
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TOTAL BORROWING |
9836.280 |
4227.970 |
1919.309 |
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DEFERRED TAX LIABILITIES |
0.000 |
8.350 |
0.000 |
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TOTAL |
13698.260 |
7301.150 |
3482.388 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8022.430 |
2212.460 |
1613.087 |
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Capital work-in-progress |
3536.150 |
2186.640 |
712.255 |
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INVESTMENT |
2.010 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
1.940 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1473.810
|
1725.770 |
863.060 |
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Sundry Debtors |
951.590
|
938.440 |
105.545 |
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Cash & Bank Balances |
884.490
|
1070.360 |
41.868 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1084.620
|
1056.820 |
401.649 |
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Total
Current Assets |
4394.510
|
4791.390 |
1412.122 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
2070.040
|
1668.460 |
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Other Current Liabilities |
32.010
|
83.390 |
188.669 |
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Provisions |
156.730
|
137.490 |
66.407 |
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Total
Current Liabilities |
2258.780
|
1889.340 |
255.076 |
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Net Current Assets |
2135.730
|
2902.050 |
1157.046 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13698.260 |
7301.150 |
3482.388 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
5573.480 |
4794.630 |
998.614 |
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Job Work Income |
0.190 |
2.090 |
33.004 |
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Other Income |
73.320 |
65.280 |
4.915 |
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TOTAL (A) |
5646.990 |
4862.000 |
1036.533 |
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Less |
EXPENSES |
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|
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Material Consumed |
3457.010 |
4117.410 |
1078.822 |
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Increase / Decrease in Semi Finished / Finished Goods |
403.800 |
(311.790) |
(321.995) |
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|
Excise Duty on Finished Goods |
12.550 |
62.920 |
51.075 |
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Personnel Expenses |
512.720 |
284.750 |
47.869 |
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Administrative and other Expenses |
366.930 |
276.670 |
48.928 |
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Selling and Distribution Expenses |
350.860 |
197.940 |
21.780 |
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TOTAL (B) |
5103.870 |
4627.900 |
926.479 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
543.120 |
234.100 |
110.054 |
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Less |
FINANCIAL
EXPENSES (D) |
415.260 |
100.880 |
40.445 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
127.860 |
133.220 |
69.609 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
123.370 |
95.710 |
66.038 |
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PROFIT BEFORE
TAX (E-F) (G) |
4.490 |
37.510 |
3.571 |
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Less |
TAX (H) |
(11.570) |
26.160 |
5.091 |
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PROFIT AFTER TAX
(G-H) (I) |
16.060 |
11.350 |
(1.520) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(14.810) |
(26.160) |
(24.641) |
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BALANCE CARRIED
TO THE B/S |
1.240 |
(14.810) |
(26.161) |
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EARNINGS IN
FOREIGN CURRENCY |
118.680 |
14.900 |
NA |
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|
Earnings Per
Share (Rs.) |
0.17 |
1.88 |
(0.42) |
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Particulars |
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|
31.03.2010 |
|
Sales Turnover |
|
|
6500.000 |
Expected Sales (2010-11): Rs. 8000.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
0.28
|
0.23 |
(0.15) |
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|
Net Profit Margin (PBT/Sales) |
(%) |
0.08
|
0.78 |
0.36 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.04
|
0.53 |
0.12 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.01 |
0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.13
|
1.99 |
1.39 |
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.94
|
2.54 |
5.54 |
LOCAL AGENCY FURTHER INFORMATION
Note: The Registered
Office of the company has been shifted from 172/2 Premchand House, Annexe
Mezzaninie Floor,
OPERATIONS:
a) Heavy
Commercial Vehicles
The year 2008-09 was a difficult year as the impact of the global
financial crisis had an impact on the Indian economy also. In spite of severe
demand compression in the commercial vehicles industry, your Company was able
to sustain and consolidate its presence in its chosen segments. The Company
sales volumes stood at 2377 nos. a decline of 8.43% from the previous year, and
revenues amounted to Rs.4288 Million the Company is encouraged by the positive
response to its products and expects significant growth in volumes in the
coming years. The Company’s expansion of its manufacturing capacity to 50,000
nos was commissioned during the year and the assembly plant has commenced
commercial production.
b) Wheel Rims
During the year the Company achieved sales of 3 16,748 wheel rims that
translated into revenues of Rs. 151.43 Million. It is heartening to note that
this volume is nearly seven times that of the last year, signifying a high
degree of acceptance by the automobile industry. The Company’s expansion of
capacity from 2 million wheel rims (passenger / truck / tractor / bus) to 15
million wheel rims is under implementation and expected to be commissioned by
the end of this fiscal year. The Company has received encouraging response for
its products from the most renowned Indian and global automobile manufacturers
and is confident of significant increases in order intake and revenues in the
coming years. The Company is on the approved list of suppliers of leading domestic
and international OEM’s of cars, trucks, buses and tractors.
c) Press Shop
The Company recorded sales of Rs.268.61 million of pressed components
during the year ended March 31, 2009. The press shop facility manufactures a
diverse range metal stampings and its clients include globally recognized
companies such as Videocon India Limited, Tecumseh India Limited and LG India
Limited.
CHANGES IN SHARE
CAPITAL:
During the year the Asia Motorworks Holdings Limited infused Rs. 781.1
Million towards share application money. Out of this 35,00,000 Equity Shares of
Rs. 10/- each were issued to the holding company, Asia Motorworks Holdings
Limited on June 15, 2009, at a premium of Rs. 90 per share, aggregating to
Rs.35,00,00,000.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U11201GJ2002PLC041192 |
|
Name of the
company |
ASIA MOTORWORKS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
34 KM Milestone, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge |
|
Particular of
charge holder |
IDBI Bank Limited, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation dated January 15, 2010 for creating charge for adhoc working
capital limit of Rs.40,00,00,000/- |
|
Date of
instrument Creating the charge |
15.01.2010 |
|
Amount secured by
the charge |
Rs.400.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per the terms
and conditions stipulated vide sanction letter dated January 1, 2010 and
Facility Agreement dated January 15, 2010. Terms of
Repayment As per the terms
of sanction vide letter of intent dated January 1, 2010 and Facility
Agreement dated January 15, 2010 entered into with IDBI Bank Ltd. Margin As per the
sanction letter dated January 1, 2010 and as amended from time to time. Extent and Operation
of the charge Pari passu first
charge on the current assets and book debts of the company and pari passu
second charge on the fixed assets of the company as per Deed of Hypothecation
dated January 15, 2010. |
|
Short particulars
of the property charged |
I)
The
Borrower's entire stock of raw materials, semi finished goods consumable
stores and spare parts and such movables including book debts, bills whether
documentary or clean II)
outstanding
monies receivable both present and future, situated at 34 KM Milestone, Bhuj
Bhachau Road, Village Kanaiyabe, Kachh, Gujarat- 370020 (Details as per
schedule to the III)
Deed
of Hypothecation dated January 15, 2010). |
Fixed Assets
- Land
- Building
- Plant and
Machinery
- Electrical
- Furniture and
Fittings
- Office
Equipment
- Vehicles
- Computers
- Software
Trade References:
- Spicer India Limited, ND
- General Motors
- New
- Mahindra Eicher
- A B Engineers, Vadodara
AS PER WEBSITE
Asia Motor Works is a company driven by energy, enthusiasm and positive
attitude. They are in the business of transport solutions for a new
competitive age in
Innovation and customer satisfaction are at the
core of everything they do at AMW. Behind their Global Truck, is relentless
passion for engineering, technological proficiency and people who are committed
to delivering value. From heavy trucks to specialized application vehicles, AMW
has constantly delivered products that increase productivity and profits for
its customers.
Their trucks offer dependability, low cost of
operation, unsurpassed handling, panoramic visibility, high driver comfort and
ease of maintenance. And much more. They aim to enhance the overall efficiency
and profitability of their patron’s business.
At their sprawling complex in Bhuj, in Gujarat,
Building the future of the transportation industry
Asia Motor Works is a company where excellence and innovation
aren't just buzzwords, they are the core of their existence. Since they started
rolling out trucks in 2005, their 49-tonners have quickly captured the heavy
haul market segment.
This is possible because they put the customers and
his needs first. That demands excellence in manufacturing through the use of
contemporary technologies, management and processes, which they implement at
their sprawling 515-acre plant in Bhuj,
PRESS RELEASE
AMW inaugurates it
first Truck Centre in
Plans to roll out
more than 15 Truck Centres across India
March 05, 2011; AMW today inaugurated its first Truck Centre for
heavy commercial vehicles at Hazira near
The new concept Truck Centre is in keeping with AMW’s philosophy of
offering value added services to customers throughout the life cycle of the
vehicle. The AMW Truck Centre has a well‐equipped 22 bay
workshop boasting of state‐of‐the‐art service
equipment. This Truck Centre will also act as a major distributor of spare
parts to the entire state in addition to its own use. The company’s Truck
Centre provides services including re‐conditioning of
engines and gearbox, overhaul of aggregates etc. and to ensure increased driver
productivity, the Truck Centre houses a hygienic driver waiting centre where he
can rest when the truck is being attended.
The operations at the Truck Centre are fully integrated with AMW’s SAP
system, bringing the highest quality expertise and systems directly from the
company’s plant and headquarters. Progressively, all systems and up gradations
and after market innovations would be plotted in such Truck Centres before
rolling it out in other areas/states.
Speaking at the function, Mr. Anirudh Bhuwalka, Managing Director and
CEO, AMW said, “AMW has been one of the forerunners in revolutionizing the
trucking industry in
AMW has introduced products that are customized to the highly demanding
construction and allied infrastructure segments and the haulage segment. Built
to provide higher efficiency and increased productivity, the products are ideal
for a large range of applications. A trend‐setting
“ready-to-use” air‐conditioned cabin
has been a standard fitment in all AMW trucks and these have contributed to
ease of driving and reduced fatigue leading to increased driver productivity.
The Company has an extensive network of over 60 touch points across the
country
About AMW
AMW manufactures Medium and Heavy Commercial vehicles for the haulage
and specialized segments of mining, construction and realty sectors at its
modern manufacturing complex in Bhuj,
The plant has an installed capacity of 50,000 trucks per annum. AMW has
a capacity of 12000 Fully Built tippers and dumpers and 4000 trailers per annum
in addition to the truck manufacturing capacity.
MANAGEMENT TEAM
At AMW, it is their mission to build a world-class
company that builds world-class trucks for all industries. To this extent, they
have appointed and nurtured employees with a passion for their job, at every
level. The senior management is an example of this, by showing long-term vision
and frontline leadership.
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 records 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 records 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.44.22 |
|
|
1 |
Rs.71.97 |
|
Euro |
1 |
Rs.63.23 |
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 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.