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1. Summary Information
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Country |
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||
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Company Name |
CHEVROLET SALES ( |
Principal Name 1 |
Mr. Gaudenz Adrian Sturzenegger |
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Status |
Moderate |
Principal Name 2 |
Mr. Anthony Charles Bates |
|
Registration # |
04-054265 |
||
|
Street Address |
Block B, Chandrapura Industrial Estate, Halol-389351, |
||
|
Established Date |
20.06.2008 |
SIC Code |
-- |
|
Telephone# |
91-2676-221000 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-2676-220666 |
Business Style 2 |
Sells |
|
Homepage |
Product Name 1 |
Chevrolet Product |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 266,962,460/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings 100.00% |
Banking |
Not Available |
|
Public Limited Corp. |
NO |
Business Period |
3 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (31) |
|
Related
Company |
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Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
|
General Motor India Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,867,100,000 |
Current Liabilities |
2,766,400,000 |
|
Inventories |
1,316,500,000 |
Long-term Liabilities |
000 |
|
Fixed Assets |
206,800,000 |
Other Liabilities |
277,300,000 |
|
Deferred Assets |
13,100,000 |
Total Liabilities |
3,043,700,000 |
|
Invest& other Assets |
5,800,000 |
Retained Earnings |
98,600,000 |
|
|
|
Net Worth |
365,600,000 |
|
Total Assets |
3,409,300,000 |
Total Liab. & Equity |
3,409,300,000 |
|
Total Assets (Previous Year) |
1,002,600,000- |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
35,363,500,000 |
Net Profit |
102,700,000 |
|
Sales(Previous yr) |
000 |
Net Profit(Prev.yr) |
(4,100,000) |
MIRA INFORM REPORT
|
Report Date : |
13.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHEVROLET SALES (INDIA) PRIVATE LIMITED (w.e.f. 31.03.2009) |
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|
|
Formerly Known As : |
GENERALS MOTORS ( |
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|
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|
Registered Office : |
Block B, Chandrapura Industrial Estate, Halol-389351, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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|
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|
Date of Incorporation : |
20.06.2008 |
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|
|
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Com. Reg. No.: |
04-054265 |
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|
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|
CIN No.: [Company
Identification No.] |
U34102GJ2008PTC054265 |
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|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business : |
Manufactures and sells Chevrolet product. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1426000 |
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|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is just three years old company establishing itself gradually.
The company has successful in achieveing sizable turnover in its very first year
of operation. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small to mediocre 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Block B, Chandrapura Industrial Estate, Halol-389351, |
|
Tel. No.: |
91-2676-221000 |
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Fax No.: |
91-2676-220666 |
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E-Mail : |
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Website : |
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Corporate Office : |
1st Floor, Plot No. 15, Sector 32, Gurgaon – 122001, |
|
Tel. No.: |
91-124-3080000 |
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Fax No.: |
91-124-4213334 |
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E-Mail : |
DIRECTORS
As on 22.09.2010
|
Name : |
Mr. Anthony Charles Bates |
|
Designation : |
Director |
|
Address : |
617 A, Aralias, DLF Golf Course Links, Gurgaon-122001, |
|
Date of Birth/Age : |
18.12.1972 |
|
Date of Appointment : |
01.06.2009 |
|
DIN : |
02664385 |
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|
|
Name : |
Mr. Gaudenz Adrian Sturzenegger |
|
Designation : |
Director |
|
Address : |
1003B, Aralias, DLF Golf Course
Links, Gurgaon-122001, |
|
Date of Birth/Age : |
22.08.1968 |
|
Date of Appointment : |
05.08.2010 |
|
DIN : |
03168513 |
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Email : |
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Name : |
Mr. Xiaodong Chen |
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Designation : |
Director |
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Address : |
515B, The Aralias, DLF Golf Course Links, Gurgaon-122001, |
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Date of Birth/Age : |
21.04.1977 |
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Date of Appointment : |
02.02.2011 |
|
DIN : |
03420344 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Chittranjan Dua |
|
Designation : |
Director |
|
Address : |
88, Sundder Nagar, |
|
Date of Birth/Age : |
03.01.1951 |
|
DIN : |
00036080 |
|
Email : |
|
|
|
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|
Name : |
Mr. Suresh Chander Gulati |
|
Designation : |
Director |
|
Address : |
J366, New Rajinder Nagar, |
|
Date of Birth/Age : |
08.07.1974 |
|
DIN : |
00501113 |
|
Email : |
KEY EXECUTIVES
|
Name : |
Mr. Anil Dulani |
|
Designation : |
Secretary |
|
Address : |
House No.69, Sector 41, Gurgaon – 122001, |
|
Date of Birth/Age : |
06.10.1969 |
|
Date of Appointment : |
25.05.2009 |
|
DIN : |
ACIPD6183B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Saic General Motors Investment Limited, |
|
29646244 |
|
Saic Motors HK Investment Limited, |
|
1 |
|
General Motors (Hong kong) Company Limited, |
|
1 |
|
Total |
|
29646246 |
As on 22.09.2010
|
Category |
Percentage |
|
Foreign holdings (Foreign institutional investor (s), Foreign companie
(s) Foreign financial institution (s), Non-resident Indian (s) or Overseas
corporate bodies or Others) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures and sells Chevrolet product. |
GENERAL INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
7th Floor, Building 10, Tower B DLF Cyber city Complex, DLF
City Phase II, Gurgaon-122002, |
|
Tel. No.: |
91-124-6792000 |
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Fax No.: |
91-124-6792012 |
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PAN No. : |
AABFD2095B |
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Fellow Subsidiaries : |
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Holding Company: |
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Ultimate Holding
Company: |
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Ultimate Joint
Venture : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30,000,000 |
Equity Share |
Rs.10/- Each |
Rs. 300.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
26,696,246 |
Equity Share |
Rs.10/- Each |
Rs. 266.962
Millions |
Note :
Ø With
effect from February 01, 2010, the Company is a subsidiary of SAlC General
Motors Investment Limited (HKM. Up to January 31,2010, the Company was the
wholly owned subsidiary of General Motors Company,
Ø GMODC was holding 2,66,96,146 equity shares of Rs.10 each. On February 1,2010, GMODC transferred 2,66,96,144 shares to HKJV, 1 equity share to General Motors (Hong Kong) Company Limited (GMHK) and 1 equity share to SAlC Motor HK Investment Limited (SAICHK)
Ø GMIH was holding 100 equity shares of Rs.10 each. On February 1, 2010, GMIH transferred entire shareholding of 100 equity shares to HKJV.
Ø
Consequent to transfer of shareholding, as
indicated above as on March 31, 2010, HKJV holds 2,66,96,244 equity shares of
Rs.10 each. Both SAICHK and GMHK hold 1 equity
share of Rs. 10 each.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
267.000 |
267.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
98.600 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
(4.100) |
|
|
NETWORTH |
|
365.600 |
262.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
365.600 |
262.900 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
|
206.800 |
186.800 |
|
|
Capital work-in-progress |
|
5.800 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
13.100 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1316.500 |
413.400 |
|
|
Sundry Debtors |
|
141.900 |
0.000 |
|
|
Cash & Bank Balances |
|
389.400 |
267.000 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1335.800 |
135.400 |
|
Total
Current Assets |
|
3183.600 |
815.800 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
2251.100 |
739.700 |
|
|
Current Liabilities |
|
515.300 |
0.000 |
|
|
Provisions |
|
277.300 |
0.000 |
|
Total
Current Liabilities |
|
3043.700 |
739.700 |
|
|
Net Current Assets |
|
139.900 |
76.100 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
365.600 |
262.900 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
35006.800 |
0.000 |
|
|
|
Other Income |
|
356.700 |
0.000 |
|
|
|
TOTAL (A) |
|
35363.500 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and other Expenses |
|
35190.700 |
4.100 |
|
|
|
TOTAL (B) |
|
35190.700 |
4.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
172.800 |
(4.100) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.900 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
170.900 |
(4.100) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
13.100 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
157.800 |
(4.100) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
55.100 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
102.700 |
(4.100) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(4.100) |
-- |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
98.600 |
(4.100) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Reimbursement of Expenses |
|
8.200 |
0.000 |
|
|
|
FOB value of Goods Exported |
|
0.100 |
0.000 |
|
|
TOTAL EARNINGS |
|
8.300 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Vehicles |
|
858.500 |
0.000 |
|
|
|
Parts and Accessories |
|
853.200 |
0.000 |
|
|
TOTAL IMPORTS |
|
1711.700 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
3.85 |
(20.78) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
0.29 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.45 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.65 |
(0.41) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.44 |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
8.54 |
2.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.05 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
OPERATIONS:
The most significant developments that has taken place in the financial
year 2009-2010 were the joint venture tie up with SAIC (“JV”) and sale of 50%
of the shares of Chevrolet sales India limited to SAIC, the rapid expansion of
the dealership network conducting country-wide free service camps for Chevrolet
vehicles, successful launches of Chevrolet Cruze and Chevrolet Beat, setting
all time in monthly sales from September 2009 to till the closure of the
financial year, setting new vision of customer ownership experience and
introduction of social media activities. The JV with SAIC is a great
achievement as the tie up will help create a number of new avenues to grow
CSIPL’s business. The tie up will provide CSIPL access to light commercial
vehicles and other vehicles from SAIC and SGMW’s stable. The JV will bring in
lot of value additions and competitive options to customers.
During the year, the company’s turnover was Rs.35206.800 millions and
profit after tax for the year stood at Rs.102.700 millions, as the previous
year company was in pre operative stage. The year ahead is expected to be a
good year.
Background:
General Motors India Private Limited (“GM India”), a subsidiary of
General Motors Company which manufactures and sells Chevrolet product in
The new company, Chevrolet Sales India Private Limited became
operational w.e.f. 1st April 2009. With GM’s operations in
Chevrolet Sales India Private Limited is expected to result in
significant cost efficiencies, and also involved the transfer of some employees
who are currently engaged in sales, marketing and distribution activities to
the new company.
Fixed Assets:
- Leasehold
Improvements
- Buildings-non
Factory
- Plant and
Machinery
- Computers
- Furniture and
Fixtures
- Vehicles
AS PER WEBSITE
The beginning of a
journey called life!
It all started in an experimental workshop in a
The company was established in 1911, and the bowtie logo
first appeared in 1914. Legend maintains that the bowtie shape was inspired by
a pattern of wallpaper in a
Chevrolet is not new
to
Maharajas, freedom fighters and the common man – Chevrolet
has ferried them all. The bowtie has been an integral part of
Chevrolet came to
Production started in 1928 with the National Series AB Touring. The AB series came with Chevrolet’s well proven and reliable 171 cubic inches, 24.7hp four-cylinder engine. It featured Chevrolet’s first four-wheel mechanical brakes and wooden wheels. In the first year of production, 13,903 GM cars and trucks were built at Sewree, including products from other GM brands.
The Chevrolet brand quickly proved trustworthy and dependable. As a result, a
large amount of Chevrolets were imported between 1918 and 1928. The Chevrolets
imported during these years mainly consisted of small four-cylinder Tourers,
because they delivered the most impressive fuel economy and were simple to run.
Even the Nawab of Hyderabad – considered the richest man in
the world at the time – used Chevrolet Tourers as official cars. In 1930, the
Indian market became even more competitive as Ford introduced the popular Model
A, whose all-steel body made it a great success. Chevrolet replied with a
revolutionary six-cylinder engine that developed 46 horsepower. And it was this
very car that gave Chevrolet its highest sales in
Sadly, the years 1952-53 marked the end of an era for the Indian automobile
industry. The ‘socialist’ Government forced General Motors India to shut shop,
along with other foreign car companies.
BOLLYWOOD Calling
Chevrolet has long been associated with silver screen from times immemorial. Often symbolizing brilliance in the scenes to leave a lasting impact, Chevrolet a standalone performer has now become the connoisseur of perseverance and excellence of those who are always in the spotlight. Recognizing and associating with the best in the industry, Chevrolet is definitely Trekking with the Stars.
APSARA Awards- Honouring the Geniuses of Cinema and Television.
On 8th January’2010, the grounds of Chitrakoot witnessed a star studded
night at the prestigious Chevrolet
Apsara Producers’ Guild Awards.
Acknowledging talent, perseverance, innovation and true artistry, there were 30
awards in categories of films and television. The Chevrolet Apsara Film and
Television Producers’ Guild Awards is the Guild's endeavor to honor excellence
in cinema and television by the stalwarts of the industry itself.
Further to dazzle the night there were scintillating performances by
Shahrukh Khan, Saif Ali Khan and Kareena Kapoor, Vidya Balan and Arshad Warsi,
Vivek Oberoi to name a few.
GIMA - Celebrating Musical Excellence!
At the forefront of technology, innovation and design, Chevrolet believes in bringing
together the finest elements in its creations and as an extension of this
belief, Chevrolet proudly collaborated with the Global Indian Music Awards
(GIMA), setting a benchmark for celebrating musical excellence in the country.
First of its kind, Chevrolet GIMA is the platform of recognizing Indian Music
Artists of both Film and Non-Film genres. Celebrating their 100 year heritage
with the first-ever Global Indian Music Awards, they have been fortunate to
celebrate the equally rich time-immemorial heritage of indigenous musical
talent and lend global recognition to some of the best Indian music and
musicians across all genres.
They are confident that Chevrolet GIMA, much like their excellence in motoring,
will be the ultimate benchmark in music excellence for the Indian Music and
Music artists - an equivalent of the Grammys, albeit in India, in times to
come!
In Indian cinema, if you really want to say something from the heart, you must shout it out.
Or sing it aloud, with panache – usually dancing around trees in an exotic
location, or going for a spin in a dashing car. And nobody has expressed it
better than Bollywood that for a special journey called life - it's got to be a
Chevrolet. In transporting its audience through all the Big Moments that life
throws up, Bollywood's symbol of choice has almost always been a Chevrolet.
Take this encounter from the iconic 1971 film, Hathi Mere Sathi.
Here, the breakdown of the rich heroine's Chevrolet, 1958, produces the right opportunity for the poor hero, Rajesh Khanna, raised with an elephant as his companion, to show that Money and Machine aren't everything. When elephant might unites with elephantine resolve, social barriers break down; both the Chevrolet and the romance can't help but move forward. So 'Chal Chal Chal Mere Haathi, O Mere Sathi!' Both within the camera frame and outside it, the Chevrolet car came to symbolize status, aura and charisma.
Moreover, the theme of life as a special journey is echoed a countless times in
film after film; what makes the safar so suhana is the presence always, of a
kindred soul, a fellow-traveler, or a humsafar. In the 1967 Jewel Thief, this
time it’s the bubbly Tanuja driving a Chevrolet, with Dev Anand on a bullock
cart.
A Chevrolet Bel Air 1955, of the Tri-Year series, bobbing along with its animal counterpart does not seem incongruous, when you hear Kishore Kumar’s golden voice sing, 'Yeh Dil Na Hota Bechara, Kadam Na Hote Aavara, Jo Khubsurat Koi Apna Humsafar Hota.' (I wouldn’t feel abandoned, nor my feet stray from their path, were I to have a beautiful soul-mate on my life’s voyage.)
The most sought-after Chevrolet body styles in Bollywood were the convertibles,
the two-door Bel Air, the four-door pillarless Bel Air, and the Bel Air
station-wagon, called the Nomad. They also see other Chevrolets in Bollywood
such as the Biscayne, 1962, upon which ‘hot’ star, garam Dharam, is caught
chilling, on a movie set around 1973. Other instances include the 1948
Chevrolet cab that played a stellar role with Dev Anand in Taxi Driver,
released in 1954. In the 1962
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.44.20 |
|
|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.