MIRA
INFORM REPORT
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Report Date : |
03.05.2011 |
IDENTIFICATION DETAILS
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Name : |
CAPARO ENGINEERING INDIA PRIVATE LIMITED |
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Registered Office : |
101-104, 1st Floor, Naurang House, 21 Kasturba Gandhi Marg,
New Delhi – 110001, Delhi |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
09.05.2000 |
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Com. Reg. No.: |
55-105609 |
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CIN No.: [Company
Identification No.] |
U74101DL2000PTC105609 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC04892G |
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PAN No.: [Permanent
Account No.] |
AABCC7862N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Sheet Metal Components, Panels, Fasteners, Tubes. |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 13000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be under pressure. There appears to be some accumulated
losses recorded by the company. However trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
LOCATIONS
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Registered Office : |
101-104, 1st Floor, Naurang House, 21 Kasturba Gandhi Marg,
New Delhi – 110001, Delhi, India |
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Tel. No.: |
91-124-4318000 / 5016825 |
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Fax No.: |
91-124-5016829 |
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E-Mail : |
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Website : |
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Corporate Office : |
9B, Sector II, AKVN Industrial Area, Pithampur - 454774, District
Dhar – 454775, Madhya Pradesh |
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Tel. No.: |
91-729– 2507300 / 2252821 |
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Fax No.: |
91-729-2507300 |
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E-Mail : |
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Factory 1 : |
Gate No. 1263/ 1265, Village Markel,
Alandi Markal Road, Taluka Khed, Pune – 1263, |
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Tel. No.: |
91-2032-1265 |
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Fax No.: |
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E-Mail : |
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Website : |
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Factory 2 : |
Gate No. 907/1, Sanaswadi, |
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Factory 3: |
Chandrapura Industrial Estate, Halol- 389 351, District- Panchmahals, |
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Tel. No.: |
91-267-6224752 |
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Fax No.: |
91-267-6224352 |
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E-Mail : |
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Website : |
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Factory 4: |
M-5, Phase Large Sector, Adityapur Industrial Area, Jamshedpur-832
108, Jharkhand |
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Tel. No.: |
91-657-2408826 |
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Fax No.: |
91-657-2200751 |
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Website : |
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Factory 5: |
Plot No. T1/ T2 SIPCOT Industrial. Park, Sriperumbdur (Ph. II),
Village, hirumanglam &
Santhavellur, Kancheepuram, |
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Website : |
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Factory 6: |
6Km. Stone, |
DIRECTORS
As on : 30.06.2010
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Name : |
Mr. Richard Gareth John |
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Designation : |
Director |
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Address : |
8 West Lodge, Heywood, |
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Date of Birth/Age : |
22.03.1969 |
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Date of Appointment : |
02.05.2007 |
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Name : |
Mr. Angad Paul |
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Designation : |
Director |
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Address: |
6, Ambika House 9A, |
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Date of Birth/Age : |
04.06.1970 |
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Date of Appointment : |
19.05.2000 |
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Name : |
Mr. Arun Kumar Purwar |
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Designation : |
Director |
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Address: |
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Date of Birth/Age : |
14.05.1946 |
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Date of Appointment : |
19.07.2007 |
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Name : |
Mr. Uttam Bose |
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Designation : |
Director |
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Address: |
C – 3/59 RWA, Sector – 31, C-Block, |
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Date of Birth/Age : |
17.12.1961 |
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Date of Appointment : |
02.06.2006 |
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Name : |
Mr. Rajesh Prasad |
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Designation : |
Director |
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Address: |
E – 155, Santa Vihar, |
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Date of Birth/Age : |
22.07.1958 |
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Date of Appointment : |
02.06.2008 |
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Name : |
Mr. Debroto Mukherji |
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Designation : |
Director |
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Address: |
C – 401, Amrapali Exotica Apt, Sector – 50, Noida, |
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Date of Birth/Age : |
16.04.1964 |
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Date of Appointment : |
02.08.2008 |
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Date of Ceasing : |
14.01.2009 |
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Name : |
Mrs. Lakshmi Mahadevan |
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Designation : |
Secretary |
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Address: |
F-35, Greenwood City, Sector 45, Gurgaon – 122003, Haryana, India |
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Date of Birth/Age : |
29.06.1965 |
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Date of Appointment : |
20.02.2010 |
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KEY EXECUTIVES
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Name : |
Mr. Vinay Shukla |
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Designation : |
Secretary |
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Address : |
201, Sunischit Apt, Sector - 56, |
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Date of Birth/Age : |
20.01.1969 |
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Date of Appointment : |
11.01.2008 |
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Name : |
Mrs. Kumudini Aggarwal |
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Designation : |
Secretary |
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Address: |
A-31, Devi Apartment Sector 13, Rohini – 110085, New Delhi, India |
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Date of Birth/Age : |
04.01.1997 |
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Date of Appointment : |
25.08.2009 |
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Date of Ceasing : |
20.02.2010 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2010
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Names of Shareholders |
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No. of Shares |
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Caparo India Private Limited, Delhi |
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20 |
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Caparo India Limited, |
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126229687 |
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Blue Elephant Finance Limited, Mauritius |
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424701048 |
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Total |
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550930755 |
As on 30.09.2010
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Equity Share Break Up |
Percentage |
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Foreign holdings (Foreign
institutional investors ) foreign companies foreign financial institutions ,
non residents or Overseas corporate bodies or others |
99.99 |
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Bodies corporate |
0.01 |
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Total |
100.00
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BUSINESS DETAILS
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Line of Business : |
Manufacturer of Sheet Metal Components,
Panels, Fasteners, Tubes. |
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Products : |
Sheet Metal Stamping |
PRODUCTION STATUS AS ON 31.12.2009
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Sheet Metal Components |
(000) Panels |
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14234 |
2015927 |
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M.T. |
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7400 |
-- |
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(000) Strokes |
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31421 |
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Sets Long Member |
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500000 |
14581 |
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Nos. |
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156000 |
-- |
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Fasteners |
M.T. |
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9800 |
145153.35 |
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Tubes |
M.T |
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60000 |
23050.47 |
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Tool Room |
Nos. |
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228 |
-- |
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Dies (Tool Room) |
Nos. |
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-- |
213 |
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Aluminum Foundry |
M.T. |
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2903 |
-- |
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Aluminum Foundry |
Nos. |
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682920 |
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Forged Steel Components |
M.T. |
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6405 |
1579.25 |
- As Estimated/ Certified by
the management and relied upon by the auditor being a technical matter
- Includes Production during trial run period 7146 (000) Panels
(Previous Year Nil (000) Panels.)
GENERAL INFORMATION
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Customers : |
End Users, OEM’s and Others |
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No. of Employees : |
9000+ Employees in Caparo Group (Approximately) |
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Bankers : |
v
State Bank of v
ICICI Bank Limited, v
Standard Chartered Bank, Narain Manzil, v
Bank of v Canara Bank v HDFC Bank Limited v
State Bank of v Central Bank of India, S.M. Road, Ahmadabad, Gujarat- 380015, INDIA |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lodha and Company Chartered Accountants |
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Address : |
12, Bhagat Singh Marg, |
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Tel. No.: |
91-11-23710176 / 23710177 / 23364671 / 2414 |
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Fax No.: |
91-11-23345168 / 23314309 |
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E-Mail : |
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Associates/Subsidiaries : |
Fellow
Subsidiaries:
Subsidiaries:
CIN No.: U34300DL2007PTC158139
CIN No.: U34200DL2007PTC161380 Holding Company:
Ultimate Holding
Company:
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CAPITAL STRUCTURE
As on 31.12.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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550000000 |
Equity Shares |
Rs. 10/- each |
Rs.5500.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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231866175 |
Equity Shares |
Rs. 10/- each |
Rs.2318.661 Millions |
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As on : 30.06.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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750000000 |
Equity Shares |
Rs.10/- each |
Rs.7500.000 millions |
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250000000 |
Preference shares |
Rs.10/- each |
Rs. 2500.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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550930755 |
Equity Shares |
Rs.10/- each |
Rs.5509.307 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2318.661 |
1240.234 |
778.515 |
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2] Share Application Money |
0.000 |
1628.420 |
2855.002 |
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3] Reserves & Surplus |
4204.816 |
3232.028 |
3633.517 |
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4] (Accumulated Losses) |
(2223.899) |
(1438.070) |
[319.396] |
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NETWORTH |
4299.578 |
4662.612 |
3314.121 |
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LOAN FUNDS |
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1] Secured Loans |
5202.137 |
4604.870 |
2895.624 |
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2] Unsecured Loans |
150.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
5352.137 |
4604.870 |
2895.624 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9551.715 |
9267.482 |
6209.745 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5847.757 |
3841.792 |
3501.729 |
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Capital work-in-progress |
1224.294 |
2996.212 |
1209.251 |
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INVESTMENT |
489.730 |
489.730 |
44.960 |
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DEFERREX TAX ASSETS |
114.414 |
114.414 |
114.414 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1026.733 |
1063.844 |
754.659 |
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Sundry Debtors |
1296.359 |
1040.353 |
763.957 |
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Cash & Bank Balances |
322.702 |
146.507 |
198.787 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
1342.327 |
1393.263 |
935.735 |
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Total
Current Assets |
3988.121 |
3643.967 |
2653.138 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1901.100 |
1642.725 |
1288.448 |
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Provisions |
111.501 |
175.908 |
25.299 |
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Total
Current Liabilities |
2012.601 |
1818.633 |
1313.747 |
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Net Current Assets |
1975.520 |
1825.334 |
1339.391 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9651.715 |
9267.482 |
6209.745 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
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SALES |
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Income |
5750.176 |
4938.419 |
3478.607 |
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Other Income |
280.036 |
183.126 |
426.868 |
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TOTAL (A) |
6030.212 |
5121.545 |
3905.475 |
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Less |
EXPENSES |
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Increase / Decrease in Stock |
75.721 |
(185.070) |
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Raw Material Consumed |
3514.855 |
3569.024 |
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Manufacturing Expenses |
840.622 |
749.499 |
3882.499 |
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Purchases |
326.115 |
197.467 |
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Personnel Expenses |
587.331 |
563.230 |
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Administration and Other Expenses |
492.447 |
547.966 |
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TOTAL (B) |
5837.091 |
5442.116 |
3882.499 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
193.121 |
(320.571) |
22.976 |
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Less |
FINANCIAL
EXPENSES (D) |
494.820 |
427.078 |
209.375 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(301.699) |
(747.649) |
(186.399) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
480.754 |
361.514 |
217.493 |
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PROFIT BEFORE
TAX (E-F) (G) |
(782.453) |
(1109.163) |
(403.892) |
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Less |
TAX (I) |
3.376 |
9.511 |
93.585 |
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PROFIT AFTER TAX
(G-I) (J) |
(785.829) |
(1118.674) |
(310.307) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1438.070) |
(319.395) |
NA
|
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BALANCE CARRIED
TO THE B/S |
(2223.899) |
(1438.070) |
NA
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
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Export Earnings |
415.778 |
548.038 |
232.241 |
|
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TOTAL EARNINGS |
415.778 |
548.038 |
232.241 |
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IMPORTS |
|
|
|
|
|
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Raw Materials |
177.052 |
85.915 |
85.915 |
|
|
|
Stores & Spares |
145.077 |
11.861 |
11.861 |
|
|
|
Capital Goods |
251.217 |
688.541 |
688.541 |
|
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TOTAL IMPORTS |
573.346 |
786.317 |
786.317 |
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|
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|
|
|
|
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Earnings Per
Share (Rs.) |
(4.32) |
(13.16) |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
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|
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PAT / Total Income |
(%) |
(13.03) |
(21.84) |
[7.94] |
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Net Profit Margin (PBT/Sales) |
(%) |
(13.61) |
(22.46) |
[11.61] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(7.96) |
(14.82) |
[6.56] |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.19) |
(0.24) |
[0.12] |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.71 |
1.38 |
1.27 |
|
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.98 |
2.00 |
2.02 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND:
Caparo Engineering India Private Limited (CEIPL) was incorporated in May
2000 and is engaged in the manufacturing of auto components including sheet
metal components, tubes and fasteners. The company’s product range includes
outer body panel, large inner panels, frame add-on parts, fasteners, electric
resistance welded tubes and cold-drawn welded tubes. CEIPL is part of the
Caparo Group, a USD 1.6 Billion conglomerate with operations in more than 60
sites in the U.k,
OPERATIONS:
Subject has been expanding its operations in India by increasing the
installed capacities of the existing products as well as adding new product
lines through organic and inorganic growth initiatives. The company has
increased the number of manufacturing plants from five in 2006 to 18 as on
December 31, 2009. The plants are located at various locations across India
including Indore, Greater Noida (UP), Chopanki
(Rajasthan), Chennai (Tamil Nadu), Jamshedpur (Jharkhand), Halol (Gujarat),
Pune (Maharashtra) and Dewas (MP).
Subject has diversified operations within the automobile industry and
caters to Original Equipment Manufacturers (OEMs) in the passenger vehicles,
commercial vehicles and two-wheeler segment. The company also has presence in
the replacement market and exports. CEIPL has strong relationships with clients
that include established passenger car makers, commercial vehicle manufacturers
and tractor companies. However, there is client concentration of revenues with
top two customers together contributing over 50% of sales
.
During FY2008-09, the auto component industry made an estimated
investments of Rs.320.000 Millions. The automotive manufacturers are present in
all the five categories: Engine Parts, Drive transmission and steering parts,
Body and chassis, Suspension and braking parts and Electrical parts and
equipment including tyres, headlamps, seats etc.
FIXED ASSETS:
- Land
- Leasehold
- Freehold
- Buildings
- Leasehold Improvement
- Plant and Machinery
- Furniture, Fixture and Office Equipment
- Computers
- Vehicles
INTANGIBLE ASSETS:
- Specialized Software
- Non Compete Fee
Form : 8
Bankers Charges
Report as per Registry
|
Name of the company |
CAPARO ENGINEERING INDIA PRIVATE LIMITED |
|
Presented By |
Canara Bank, |
|
1) Date and description of instrument creating the change |
Term Loan of Rs. 150.000 Millions |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Hypothecation of
all Plant and Machienry, purchased / to be purchased out of Bank Finance only
and such is stored / installed at borrower’s premises at 9 B, Sector – II,
AKVN Industrial Area, Pithampur, District Dhar (M.P.) or Wherever else the
same may be. |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The Interest on
Term Loan of Rs. 150.000 Millions shall be charged at the rate of 3.50 % per annum
below the ongoing PLR subject to minimum of 7.45 % per annum on monthly rests
or at such other rate as may be specified by the bank form time to time. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Re-payable as decided between the bank and the borrower |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
Corporate identity number of the company |
U74101DL2000PTC105609 |
|
Name of the company |
CAPARO ENGINEERING INDIA PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
101-104, I st Floor, Naurang House, 21, Kasturba Gandhi Marg New Delhi Delhi INDIA 110001 |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Book debts |
|
Particular of charge holder |
Central Bank of India, S.M. Road,
Ahmadabad, Gujarat- 380015, INDIA |
|
Nature of instrument creating charge |
Indenture of Simple Mortgage without
possession dated February 24, 2011 for the Company's property at plot no. B-1, Admeasuring
59,457.64 Sq. Mtrs. at Vendors Park, Sanand, Gujarat |
|
Date of instrument Creating the charge |
24/02/2011 |
|
Amount secured by the charge |
Rs. 830.300 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest WC: BPLR + 1.00% TL: ALL BPLR + 1.00% With Annual Reset Terms
of repayment As Per The Hypothecation Agreements Margin WC: 30% TL: ALL 31.43% Extent
and operation of the charge Hypo. Of entire book debts and entire
stock of sanand of RM, WIP, FG, goods in transit etc.. Hypo. Of all P and M of nano unit of co.
Including machineries to be shifted from singur to sanand and new machineries
to be installed at sanand Mort. By way of deposit of title deeds of
the co's property at plot no. B-1, Adm. 59,457.64 sq. Mtrs. At vendors park,
sanand, Gujarat with all buildings and structures thereon & all p&m
attached to earth or permanently fastened to anything attached to earth. Other
Nil |
|
Short particulars of the property charged
(Including location of the property) |
1.Hypo. of Entire Book Debts and entire stock
of Sanand plant at plot no. b-1, vendors park, Sanand of RM, WIP, FG, Goods
in Transit etc.. 2. Hypo. Of all P and M of Nano unit of company including machineries to
be shifted from singur to sanand and new machineries to be installed at plot
no. B-1, vendors park, sanand 3. Mortgage by way of deposit of title deeds of the co's property at plot
no. B-1, adm.59,457.64 sq. Mtrs. At vendors park, sanand, Gujarat. 4. With All Buildings And Structures Thereon and All P and M Attached to
The Earth Or Permanently Fastened To Anything Attached To Earth |
|
Date of instrument modifying the charge |
23/03/2010 |
|
Particulars of the present modification |
Creation of mortgage by way deposit of title
deeds of the Company's property at plot no. B-1, Sanand, Gujrat |
WEBSITE DETAILS:
Caparo, founded in 1968 by Indian
born British Industrialist, Lord Paul of Marylebone, is a fast growing
Caparo
Caparo
Caparo
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 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. 44.30 |
|
|
1 |
Rs. 73.89 |
|
Euro |
1 |
Rs. 65.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.