MIRA INFORM REPORT

 

 

Report Date :

16.05.2011

 

IDENTIFICATION DETAILS

 

Name :

INDO-US MIM TEC PRIVATE LIMITED (w.e.f 21.08.2001)

 

 

Formerly Known As :

A F TECHNOLOGIES INDIA PRIVATE LIMITED

 

 

Registered Office :

Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

12.04.1996

 

 

Com. Reg. No.:

01-023794

 

 

Paid-up Capital :

Rs. 119.423 Millions

 

 

CIN No.:

[Company Identification No.]

U28110AP1996PTC023794

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDA01407A

BLRI03284B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Supplier of Metal Injection Moulding

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 2400000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed company having fine track. General financial position is good. Trade relations are reported as fair. Business is active. Payments are reported to be 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 – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

India

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 :

Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India

E-Mail :

santosh.d@indo-mim.com

bal.s@indo-mim.com

Website :

www.indo-mim.com

 

 

Factory 1/ Corporate Office :

No 45,(P) KIADB Industrial Area, Hoskote, Bangalore 562 114, Karnataka, India

Tel. No.:

91-80-22048800/27971418/27971416

Fax No.:

91-80-27971624

E-Mail :

infohq@indo-mim.com

 

 

Factory 2 :

#45[P], KIADB Industrial Area, Doddaballapur, Bangalore 561 203, Karnataka, India

Tel. No.:

91-80-7630533/ 7630532

Fax No.:

91-80-27630532

E-Mail :

infohq@indo-mim.com

 

 

International Office :

Located at:

  • USA
  • Europe

 

 

DIRECTORS

 

As On 30.09.2010

 

Name :

Mr. Pradip Panalal Shah

Designation :

Director

Address :

72 Embassy Apartments, 7th Floor Napean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

13.09.1957

Date of Appointment :

27.10.2007

DIN No.:

00066242

 

 

Name :

Mr. Gaurav Swarup

Designation :

Director

Address :

2B, Juges Court Road, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

21.11.1956

Date of Appointment :

02.06.1999

DIN No.:

00374298

 

 

Name :

Mr. Krishna Chivukula

Designation :

Chairman

Address :

35, 1st main 3rd Cross RMV Extension, Bangalore – 560091, Karnataka, India

Date of Birth/Age :

27.01.1947

Date of Appointment :

12.04.1996

DIN No.:

01625119

 

 

Name :

Mr. Chandrasekhar Jagadamba

Designation :

Director

Address :

4900 Province Line Road, Princeton, Newgayork, USA 08540

Date of Birth/Age :

12.09.1949

Date of Appointment :

30.09.2004

DIN No.:

01711450

 

 

Name :

Mr. John Anthony Dexheimer

Designation :

Director

Address :

61 Morningside Drive Westport, Connecticut 006880

Date of Birth/Age :

13.09.1954

Date of Appointment :

27.10.2007

DIN No.:

01917009

 

 

Name :

Ms. Chivukula Lalithadevi

Designation :

Director

Address :

3-6-539 A, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India

Date of Birth/Age :

01.07.1924

Date of Appointment :

12.04.1996

DIN No.:

02368453

 

 

Name :

Mr. Krishna Chivukula Jr

Designation :

Director

Address :

4900 Province Line Road, Princeton, Newgayork, USA 08540

Date of Birth/Age :

31.03.1972

Date of Appointment :

30.09.2004

DIN No.:

02483835

 

 

Name :

Mr. Raj Roger Chivukula

Designation :

Director

Address :

4900 Province Line Road, Princeton, Newgayork, USA 08540

Date of Birth/Age :

01.07.1974

Date of Appointment :

30.09.2004

DIN No.:

02484081

 

 

Name :

Mr. Parasuraman Balasubramanina

Designation :

Director

Address :

3DC 217, HRBR 3rd Block Kalyan Nagar, Bangalore – 560043, Karnataka, India

Date of Birth/Age :

14.05.1963

Date of Appointment :

06.03.2010

DIN No.:

02829480

 

 

Name :

Mr. Ajeet Khare

Designation :

Managing Director

Address :

141, First Floor, Main Second Stage West of Chord Road, Bangalore – 560086, Karnataka, India

Date of Birth/Age :

29.04.1950

Date of Appointment :

01.09.2001

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As On 30.09.2010

 

Names of Shareholders

 

No. of Shares

Krishna Chivukula

 

100

Chivukula Lalithadevi

 

100

Parasuraman Balasubramanian

 

60000

 

As On 30.09.2010

 

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

91.00

Directors or relatives of Directors

4.00

Other

5.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Supplier of Metal Injection Moulding

 

 

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :
  • IDBI Bank Limited, IDBI Bank Limited, K H Road, Bangalore – 560027, Karnataka, India
  • State Bank of India
  • ING Vysya Bank

 

 

Facilities :

Secured Loans

31.03.2010 (Rs. In Millions)

31.03.2009 (Rs. In Millions)

(From Financial Institutions and Bank)

 

 

Term Loans

 

 

a) Foreign Currency Loans

 

 

1. IDBI

23.230

138.295

b) Rupee Loans

 

 

1. IDBI

91.872

40.639

2. ING Vysya Bank Limited

64.665

101.935

3. State Bank of India

52.899

96.396

ii) Working Capital

 

 

1. Cash Credit from ING Vysya Bank Limited

104.162

73.252

2. Cash Credit from State Bank of India (SBI)

16.868

89.464

3. Cash Credit from IDBI Bank Limited

26.078

29.026

Total

379.774

569.007

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

P Murali and Company

Chartered Accountant

Address :

6-3-655/2/3 Somajiguda, Hyderabad – 500082, Andhra Pradesh, India

Pan No.:

AADFP2033K

 

 

Group Companies :
  • Shiva Analyticals India Limited
  • Gowri Ventures Private Limited

 

 

CAPITAL STRUCTURE

 

As On 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

12000000

Equity Shares

Rs. 10/- each

Rs. 120.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

11942257

Equity Shares

Rs. 10/- each

Rs. 119.423 Millions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2010

31.03.2009

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

119.423

119.423

119.423

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

481.298

340.780

325.458

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

600.721

460.203

444.881

LOAN FUNDS

 

 

 

1] Secured Loans

379.774

569.007

666.372

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

379.774

569.007

666.372

DEFERRED TAX LIABILITIES

78.435

76.658

65.587

 

 

 

 

TOTAL

1058.930

1105.868

1176.840

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

769.332

768.571

685.512

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

54.107

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
120.214

105.329

108.132

 

Sundry Debtors
310.127

308.922

445.200

 

Cash & Bank Balances
37.626

43.095

26.205

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
218.481

119.286

167.207

Total Current Assets
686.448

576.632

746.744

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
131.619

127.360

 

Other Current Liabilities
0.187

0.110

161.769

 

Provisions
319.151

111.865

93.647

Total Current Liabilities
450.957

239.335

255.416

Net Current Assets
235.491

337.297

491.328

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

1058.930

1105.868

1176.840

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

1464.556

1279.436

 

 

Other Income

1.897

4.059

 

 

 

TOTAL                                     (A)

1466.453

1283.495

1188.885 (Gross Revenue)

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Raw materials, consumables and others

365.501

434.436

 

 

Personnel

189.479

186.596

 

 

 

Excise duty

8.478

9.119

 

 

 

Manufacturing and asset maintenance

81.044

127.965

 

 

 

Administrative expenses

33.677

22.919

 

 

 

Selling and distribution expenses

263.822

223.287

 

 

 

(Increase)/Decrease in finished goods and WIP

(6.872)

(3.216)

 

 

 

TOTAL                                     (B)

935.129

1001.106

980.419

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

531.324

282.389

208.466

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

55.468

96.436

93.876

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

475.856

185.953

114.590

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

80.116

71.223

56.323

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

395.740

114.730

58.267

 

 

 

 

 

Less

TAX                                                                  (I)

143.816

43.520

27.322

 

 

 

 

 

 

PROFIT AFTER TAX (G-I)                                  (J)

251.924

71.210

30.945

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

335.321

319.998

NA

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Proposed Dividend

95.538

47.769

NA

 

 

Corporate Dividend Tax Thereon

15.868

8.118

NA

 

BALANCE CARRIED TO THE B/S

475.839

335.321

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

20.63

5.97

3.71

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)
17.18

5.55

2.60

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

 
27.02

8.97

NA

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
27.18

8.53

4.07

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.66

0.25

0.13

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.38

1.76

2.07

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.52

2.41

2.92

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

OUTLOOK

Fiscal 2009-10 began with India’s GDP growth slowing to 6.7% in 2008-09, down from an average of 9.5 percent in the previous years. After a brief but sharp slowdown in the aftermath of the financial crisis that began in the developed economies, India was still able to recover to become the second fastest growing economy in the world. While the developing economies are recovering albeit slowly, aided by the liberal stimulus packages, they are grapping with many challenges such as high unemployment, weak and volatile financial markets and impending trade barriers. The challenge from an adverse external.

  • Technology absorption, adaptation and innovation:-

The company has been able to absorb the technology satisfactorily. Constant efforts are underway to use the technology for manufacture of components for various industries.

 

 

 

Form 8:

 

Corporate identity number of the company

U28110AP1996PTC023794

Name of the company

INDO-US MIM TEC PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India

This form is for

Creation of charge

Type of charge

Book Debts

Movable Property

Particular of charge holder

Name :

IDBI Bank Limited

Address :

IDBI Bank Limited, K H Road, Bangalore – 560027, Karnataka, India

Email :

v.visalakshi@idbi.co.in

Nature of instrument creating charge

Deed of Hypothecation dated 23.03.2011 executed by the company in favor of IDBI Bank Limited

Date of instrument Creating the charge

23.03.2011

Amount secured by the charge

Rs. 100.000 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest - BBR + 3.50% p.a. payable monthly

 

Terms of Repayment - as per sanction letter IDBI/MCG/324A/IMT/2010-11 dt 04.01.2011 and as amended vide letter no- IDBI/MCG/525/IMT/2010-11 dt 23.03.2011

 

Margin -

 

Extent and Operation of the charge - The charge operates as security, inter alia, for the due repayment by the Company to IDBI of its Term Loan for Capex not exceeding Rs.100.000 millions as sanctioned vide letter no- IDBI/MCG/324A/IMT/2010-11 dt 04.01.2011 and as amended vide letter no- IDBI/MCG/525/IMT/2010-11 dt 23.03.2011 together with interest, liquidated damages, costs, charges, expenses and all other moneys payable by the Company to IDBI for the said loan.

 

Others - The above term loan for capex of Rs 100.000 millions together with interest, cost, charges etc is hereby secured by

 

a) First charge on all the Fixed Assets (movable) of the Company, on pari passu basis with all the existing first charge holders both present and future and

 

b) Second charge on all the Current Assets of the Company, on pari passu basis with all the existing second charge holders both present and future

Description of the property charged indicating whether it is a charged on

 

Particulars of the property charged

a) 1st charge on all the Fixed Assets (movable) of the Company, on pari passu basis with all the existing first charge holders both present & future and

 

b) 2nd charge on all the Current Assets of the

 

Company, on pari passu basis with all the existing second charge holders both present & future

 

 

Fixed Assets:

  • Land and development
  • Buildings
  • Plant and machinery
  • Furniture and fixtures
  • Office equipment
  • Vehicles
  • Computers and software
  • Electrical installation

 

 

 

 

AS PER WEB SITE DETAILS

 

CORPORATE PROFILE:

Since the time the very first part was molded in 1998, Indo-MIM has grown to become a leading global supplier of Metal Injection Molded products. Today, Indo-MIM has achieved a leadership position in the field of MIM, providing precision-engineered products to customers in more than thirty countries in the Americas, Europe and Asia. Indo-MIM is a fully integrated MIM parts producer with capabilities and proficiency in design, tooling, materials and a full range of finishing and assembly operations.

 

The Roots

In 1997, AF Technologies India Private Limited was founded as a 50-50 joint venture with a renowned North American MIM company and an Indo-American industrialist with the intent of establishing a manufacturing base for MIM products in India. A core team comprised of Indian engineers, metallurgists, designers, toolmakers and technicians were trained in MIM technology with our US partner. In 2002, we acquired 100% ownership of the venture from our American collaborator and Subject was born. Today, after 10 years of supplying MIM products to companies across the globe, our customers have come to know them as simply, Indo-MIM.

 

The Present

Over the years, subject has grown its facilities into what may be the largest installed MIM capacity in the world. Over 25,000 sq.meters of advanced MIM manufacturing and finishing capability are equipped to manage the entire MIM process from beginning to end. Vertical integration of finishing technologies like Electroless Ni and Trivalent Cr plating, vacuum and sealed quench heat-treating as well as precision grinding and CNC machining to micron tolerances is within there capabilities. We also offer plastic injection and insert molding as well as a full range of product assembly and integration services.

 

The Future

The core belief is that they should provide lasting value to there customers and shareholders alike. To do so they are developing core competencies beyond MIM. Some of them include investment cast products, advanced machining of medical and aerospace products as well as complete medical device integration as part of there expanding core capabilities. The imagination for the future is matched only by there enthusiasm to achieve impossible tasks.

 

SUBJECT HISTORIC TIMELINE

 

1997

·        Joint venture formed and AF Technologies India (P) Limited was founded

·        India’s technical team trained in the US

·        2,000 sq. meters MIM facility commissioned in Hoskote, Bangalore, India

 

1998   

·        Production began in MIM

 

1999   

·        ISO 9001 certification was achieved

 

2001   

·        100% ownership was acquired and the company became Indo-US MIM Tec

 

2002

·        US Sales and Engineering office was opened in Ann Arbor, MI

·        ISO/TS 16949:2002 certification was achieved

·        100 new products were produced

 

2004   

·        Molding & vacuum sintering capacity was increased

 

2005   

·        Hoskote (HSK) operations expanded to 10,000 sq. meters

 

2006   

·        Molding and sintering capacity was increased

·        100 customers milestone was achieved

·        Doddaballapur (DBP) site was acquired

 

2007

·        Facilities at DBP modernized and expanded to encompass 13,000 sq. meters

·        Installation of high temperature continuous pusher furnaces at DBP

·        US Sales offices was opened in Colorado and North Carolina

·        1,800 sq. meters plating facility was opened on DBP site

·        New milestone: 100 new products were developed in a single year

 

2008   

·        European sales office was opened in Stuttgart, Germany

·        Tooling capacity was doubled with the opening of new area at DBP

·        Micro-molding capability was acquired

·        Vacuum sintering capacity was expanded at DBP operations

 

2009   

·        Precision machining group began operations

·        Sealed quench heat-treating facility was installed

·        3000 sq. meters investment casting facility was inaugurated in Tirupati, India

·        5,500 sq. meters expansion began at DBP site

·        ISO 13845 certification process was initiated

 

2010   

·        MIM and tooling capacity increased at DBP site

·        12 Bar quench vacuum heat-treat capability installed

·        Aerospace Products Group formed for precision machining & surface treatments

·        Class 10,000 clean room for medical device assembly installed

·        High volume precision grinding capability for automotive products installed

 

 

News

 

Molding yet another milestone – Gowri Precision Investment

 

Gowri Precision Investment Castings, a unit of Indo-MIM, has begun the commercial production in Feb. 2010. With a production facility of about 30,000 sq. ft., this state-of-the-art plant is equipped with machinery from world's reputed manufacturers located in USA, Canada, Australia and India. Its current capabilities include producing precision investment castings in:

10 gms to 5 kgs weight

Carbon, low alloy and tool steels

Stainless steel in 400, 300 series as well as precipitation hardened steels

Nickel and cobalt based alloys

 

Gowri uses waxes and shell materials from world's reputed manufacturers to produce internally sound castings and high quality surface finish. It manufactures precision investment castings, provides finishing and heat treating the castings to make them ready-for-use. It is currently serving customers located in USA, Germany, Belgium and Turkey.

Gowri envisions becoming a leading manufacturer of precision investment castings in ready-to-assemble condition for various market segments including the aerospace and industrial gas turbine (IGT) industries. After establishing leadership in commercial castings market, Gowri will expand to become a major supplier of vacuum casting in titanium and super alloys.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.44.91

UK Pound

1

Rs.73.06

Euro

1

Rs.64.03

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

50

 

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

-

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.