1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ITT Corporation
India Private Limited |
Principal Name 1 |
Mr. Michael Lee Kuchenbrod |
|
Status |
Moderate |
Principal Name 2 |
Mr. Samir Yamdagni |
|
|
|
Registration # |
04-51016 |
|
Street Address |
Plot No.731, GIDC Savli, Manjusar, Savli Road, Vadodara – 391770,
Gujarat, India |
||
|
Established Date |
01.06.2007 |
SIC Code |
-- |
|
Telephone# |
91-2667-265727/ 265755/ 265700/ 265729-737 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-2667-265764 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Pumps |
|
|
# of employees |
500 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.492,400,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings –
100.00% |
Banking |
CITI Bank |
|
Public Limited Corp. |
No |
Business Period |
4 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
Luxembourg |
ITT Industries Luxembourg SARL |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
273,349,000 |
Current Liabilities |
170,503,000 |
|
Inventories |
114,777,000 |
Long-term Liabilities |
0,000,000 |
|
Fixed Assets |
118,060,000 |
Other Liabilities |
4,955,000 |
|
Deferred Assets |
0,000,000 |
Total Liabilities |
175,458,000 |
|
Invest& other Assets |
64,629,000 |
Retained Earnings |
0,000,000 |
|
|
|
Net Worth |
395,357,000 |
|
Total Assets |
570,815,000 |
Total Liab. & Equity |
570,815,000 |
|
Total Assets (Previous Year) |
240,684,000 |
|
|
|
P/L Statement as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
118,947,000 |
Net Profit |
(152,670,000) |
|
Sales(Previous yr) |
27,894,000 |
Net Profit(Prev.yr) |
(90,927,000) |
MIRA
INFORM REPORT
|
Report Date : |
12.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
ITT CORPORATION INDIA PRIVATE LIMITED
(w.e.f. 18.06.2007) |
|
|
|
|
Formerly Known
As : |
ITT CORPORATION (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Plot No.731, GIDC Savli, Manjusar, Savli Road, Vadodara – 391770,
Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2009 |
|
|
|
|
Date of
Incorporation : |
01.06.2007 |
|
|
|
|
Com. Reg. No.: |
04-51016 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.494.400
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120GJ2007FTC051016 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDI00541C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI7013D |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Pumps. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses records 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
|
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 |
INFORMATION PARTED BY (General Details)
|
Name : |
Ms. Rehana |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-2667-265728 |
|
Date : |
08.09.2011 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.731, GIDC Savli, Manjusar, Savli Road, Vadodara – 391770,
Gujarat, India |
|
Tel. No.: |
91-2667-265727/ 265755/ 265700/ 265729-737 |
|
Fax No.: |
91-2667-265764 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 30.06.2011)
|
Name : |
Mr. Samir Yamdagni |
||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||
|
Address : |
C-148, Sarvodaya Enclave, New Delhi – 110017, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.07.1965 |
||||||||||||||||||||||||||||||||
|
Qualification : |
B. E., (Mechanical) ITT Kharagpur |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.06.2008 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
|||||||||||||||||||||||||||||||||
|
Other Directorship : |
|
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|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Venugopalakrishna Tangellapalli |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
B/8, Rutansh Duplex, Opposite Yash Complex, Gotri Road, Vadodara –
390021, Gujarat, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.12.1967 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.01.2009 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
02585590 |
||||||||||||||||||||||||||||||||
|
Other Directorships : |
|
||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Michael Lee Kuchenbrod |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
23 Ultima Dr. Newport Coast, United State of America Californa 92657 |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.06.1964 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.01.2009 |
||||||||||||||||||||||||||||||||
|
DIN No: |
02576529 |
||||||||||||||||||||||||||||||||
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Other Directorships : |
|
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|
|||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Meng Hing Chua |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
157 C Tamarind Road, # 05-01, Singapore – 806107 |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.03.1967 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.01.2009 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
02593028 |
||||||||||||||||||||||||||||||||
|
Other Directorships : |
|
||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rehana Bibi Rijwan Kudalkar |
|
Designation : |
Company Secretary |
|
Address : |
B/203, Faheza Beside Green park, Opposite SBI ATM Tandalja, Vadodara –
390012, Gujarat, India |
|
Date of Birth/Age : |
13.06.1983 |
|
Date of Appointment : |
29.12.2010 |
|
PAN No.: |
BBJPP7269M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.06.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
ITT Remainco International SARL, Luxembourg |
|
35812400 |
|
ITT Remainco Industries SARL, Luxembourg |
|
101927600 |
|
|
|
|
|
Total |
|
137740000 |
(AS ON 18.03.2011)
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
ITT Industries Holding SARL, Luxembourg |
|
9360000 |
|
ITT Industries Luxembourg SARL, Luxembourg |
|
26640000 |
|
|
|
|
|
Total |
|
36000000 |
(AS ON 30.06.2011)
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pumps. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30-60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30-60 days) |
PRODUCTION STATUS (AS ON 31.12.2009)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Pumps |
Nos. |
-- |
40,000 |
2,276 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Customers : |
OEM’s and Manufacturer |
|
|
|
|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
· Citi Bank Citi bank N.A., 1st Floor, Gotri Road Branch, Vadodara,
Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
31, Nutan Bharat Society, Alkapuri, Vadodara – 390007, Gujarat, India |
|
Tel. No.: |
91-265-2333776 |
|
Fax No.: |
91-265-2339729 |
|
|
|
|
Ultimate Holding Company : |
ITT Corporation, US |
|
|
|
|
Holding Company : |
ITT Industries Luxembourg SARL, Luxembourg |
CAPITAL STRUCTURE
(AS ON 30.06.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
175000000 |
Equity Share |
Rs.10/- each |
Rs.1750.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
137740000 |
Equity Share |
Rs.10/- each |
Rs.1377.400
Millions |
|
|
|
|
|
(AS ON 31.12.2009)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Share |
Rs.10/- each |
Rs.900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49240000 |
Equity Share |
Rs.10/- each |
Rs.494.400 Millions |
|
|
|
|
|
NOTE:
Out of the above equity shares 36,437,000
Equity shares are held by the holding company ITT Industries Luxembourg SARL
and 12,802,400 equity shares are held by ITT Industries Holding SARL. Both of companies
are nominated of ITT Corporation, USA the Ultimate Holding Company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
492.400 |
245.000 |
56.000 |
|
|
2] Share Application Money |
165.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(262.043) |
(109.373) |
(18.446) |
|
|
NETWORTH |
395.357 |
135.627 |
37.554 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
395.357 |
135.627 |
37.554 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
118.060 |
103.967 |
6.183 |
|
|
Capital work-in-progress |
64.629 |
12.593 |
22.218 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
114.777
|
24.022 |
0.000 |
|
|
Sundry Debtors |
94.960
|
44.244 |
1.305 |
|
|
Cash & Bank Balances |
98.770
|
21.647 |
9.442 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
79.619
|
34.211 |
11.159 |
|
Total
Current Assets |
388.126
|
124.124 |
21.906 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
121.888
|
76.552 |
10.963 |
|
|
Other Current Liabilities |
48.615
|
28.035 |
1.370 |
|
|
Provisions |
4.955
|
0.470 |
0.420 |
|
Total
Current Liabilities |
175.458
|
105.057 |
12.753 |
|
|
Net Current Assets |
212.668
|
19.067 |
9.153 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
395.357 |
135.627 |
37.554 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Sales) |
118.947 |
27.894 |
2.138 |
|
|
|
Engineering Services/ Income |
83.039 |
52.476 |
0.000 |
|
|
|
Other Income |
23.103 |
18.871 |
0.100 |
|
|
|
TOTAL (A) |
225.089 |
99.241 |
2.238 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
98.076 |
46.049 |
0.000 |
|
|
|
Personnel Expenses |
112.196 |
63.106 |
4.730 |
|
|
|
Administrative and Other Expenses |
152.758 |
75.391 |
15.561 |
|
|
|
TOTAL (B) |
363.030 |
184.546 |
20.291 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(137.941) |
(85.305) |
(18.053) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.805 |
0.441 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(140.746) |
(85.746) |
(18.053) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.860 |
4.450 |
0.189 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(153.606) |
(90.196) |
(18.242) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.936 |
0.731 |
0.204 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(152.670) |
(90.927) |
(18.446) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(109.373) |
(18.446) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(262.043) |
(109.373) |
(18.446) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.71) |
(5.52) |
(13.57) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
PAT / Total Income |
(%) |
(67.83)
|
(91.62) |
(824.22) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(129.14)
|
(323.35) |
(853.23) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(30.35)
|
(39.54) |
(64.94) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.39)
|
(0.67) |
(0.49) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.44
|
0.77 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21
|
1.18 |
1.72 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered Office of the company has been shifted from Revenue
Survey No.380, Near Kamdhenu Motors, NH 8, Chhani, Vadodara, Gujarat, India, to
the present address w.e.f. 13.02.2009.
REVIEW OF BUSINESS OPERATIONS:
NEW WORK ORDERSIPROJECTS RECEIVED DURING THE YEAR UNDER
REVIEW I.E. JAN TO DEC 2009:
The company has received various prestigious work orders
from many reputed companies and government authorities for supply of Pumps and
Spares and putting all its efforts to complete the same well in advance as per
the commitments given to them.
PERFORMANCE OF THE COMPANY:
Since the company has just completed its third financial
year and has started commercial production during the year, revenues earned
were not sufficient to generate profit. However, during the current year, the
company is anticipating good orders and as a result will generate sufficient
revenues and funds.
FUTURE PROSPECTS:
The growth of the Company largely depends on the
infrastructure development and large population to cater. Further the growth is
also closely linked to the growth trends in the user industries, even factors
like investments and overall economic growth directly Influence them. Recent
policies of Government stressing the need for development of Infrastructure on
one hand and stressing the need for an effective and meaningful Water
management on the other creates bright prospects for them.
Manufacturing Industry is the backbone of economic
development and the Government, Centre and State, working in tandem, are giving
utmost priority to this sector. With favorable economic climate and ongoing
focus on Industrial development, the overall prospects for manufacturing
Industry appear to be conducive.
Having reasonably adequate order book position as on
December 31, 2009, the expected turnover of the Company is likely to reach
Rs.400.000 Millions in the Year 2010. Your directors are confident of improved
performance in the coming years, increasing the market share and bring the
Company to a position.
CONTINGENT
LIABILITIES NOT PROVIDED FOR: (Rs. In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
Bank Guarantee |
53.148 |
6.428 |
|
Estimated amount of Contracts remaining to be executed on capital
account and not provided for. |
2.493 |
4.970 |
|
|
|
|
FIXED ASSETS
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Computers
· Designs and Drawings
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.46.18 |
|
|
1 |
Rs.73.65 |
|
Euro |
1 |
Rs.64.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.