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Report Date : |
14.04.2012 |
IDENTIFICATION DETAILS
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Name : |
MICRO TURNERS |
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Registered
Office : |
SCO – 352, Sector – 9, 1st Floor, Panchkula, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Year of
Establishment : |
1981 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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IEC No.: |
3396000323 |
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TIN No.: |
02030100765 |
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PAN No.: [Permanent Account No.] |
AABFM1796J |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Manufacturing of Precision and Forged Components (Cold, Warm and Hot
Forged). Specifically Precision Engine Components for Two-Wheelers. |
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No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (57) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed partnership concern having
fine track. The concern is doing well. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The concern can be considered good for normal 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Dharmander |
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Designation : |
Accountant |
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Contact No.: |
91-172-40488166 |
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Date : |
12.04.2012 |
LOCATIONS
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Registered Office : |
SCO – 352, Sector – 9, 1st Floor, Panchkula, Haryana,
India |
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Tel. No.: |
91-172-4048801 to 25 |
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Mobile No.: |
91-9810023182 (Mr. N. K. Dua) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1: |
Hissar Road, Rohtak - 124001,
Haryana, India |
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Factory 2: |
Jharmajri P.O. Barotiwala , Teh. Nalagarh, District Solan – 173205, Himachal Pradesh, India |
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Tel No.: |
91-179-5645368 |
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Factory 3: |
N.H-8, Behind Munjal Auto Complex, Village Binola, District Gurgoan
- 122413, Haryana, India |
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Factory 4: |
Gat No. 343, Plot No. 54/A, Village Mahalunge, Taluka Khed,
Chakan – Pune– 410501, Maharashtra,
India |
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Factory 5: |
Plot No. 13, Sector – 10 IIE, Pant Nagar, District U.S Nagar - 263153,
Uttarkhand, India |
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Factory 6: |
I Village: Harraipur, P.O: Khruli, (Near Bhud Barrier) Tehsil- Baddi,
S |
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Factory 7: |
Plot No. 8, IP – 4, Begumpur, Bhadarabad, Haridwar –
249402, Uttrakhand, India |
PARTNERS
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Name : |
Mr. Sachin Kapoor |
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Designation : |
Partner |
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Address : |
789/8, Sant Nagar, Rohtak – 124001, Haryana, India |
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Name : |
Mr. B. K. Sehgal |
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Designation : |
Director |
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Address : |
97/123, DLF Colony, Rohtak – 124001, Haryana, India |
KEY EXECUTIVES
|
Name : |
Mr. Dharmander |
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Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Precision and Forged Components (Cold, Warm and Hot Forged).
Specifically Precision Engine Components for Two-Wheelers. |
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Exports : |
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Products : |
Precision and Forged Components |
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Countries : |
Asian Countries |
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Imports : |
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Products : |
Raw Materials and Machines |
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Countries : |
All over the world |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and OEM’s · Hero Honda Motors limited · Honda Motor Cycle and Scooter India Private Limited · Bajaj Auto Limited · Maruti Udyog Limited · Yamaha Motor India Private Limited · TVS Motor Company Limited · Suzuki Motor Company limited · Sona Koyo Steering System Limited · Delphi Automotive System Limited · Muhashi Auto Parts India Private Limited |
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No. of Employees : |
3000 (Approximately) |
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Bankers : |
· Citi Bank Limited, Haryana, India · ICICI Bank Limited, , Haryana, India |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
· A. K. Automatics Hissar Road, Rohtak – 124001, Haryana, India Line of Business: Manufacturing
of Precision and Forged Components (Cold, Warm and Hot Forged). Specifically Precision
Engine Components for Two-Wheelers. · Micro Turners Private Limited HJissar Road, Rohtak – 124001, Haryana, India Line of Business: Manufacturing
of Precision and Forged Components (Cold, Warm and Hot Forged). Specifically
Precision Engine Components for Two-Wheelers. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
7000.000 |
5000.000 |
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The above information has been parted by Mr. Dharmander.
Note: Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
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Check list by info
Agents |
Available in Report (Yes/ No) |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Constitution of the Firm |
Yes |
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Premises details |
No |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
No |
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No. of Employees |
Yes |
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Name of Person Contacted |
Yes |
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Designation of Contact person |
Yes |
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Turnover of Firm for last two years |
Yes |
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Profitability for last three years |
No |
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Reasons for variation <> 20% |
----- |
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Estimation for coming financial year |
No |
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Capital in the business |
Yes |
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Details of sister concerns |
Yes |
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Major Suppliers |
No |
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Major Customers |
Yes |
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Payments Terms |
Yes |
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Export/ Imports Details (If applicable) |
Yes |
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Market Information |
----- |
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Litigations that the firm/ Promoters Involved in |
----- |
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Banking details |
Yes |
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Banking Facility Details |
No |
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Conduct of the Banking Account |
----- |
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Buyer visit details |
----- |
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Financials, if provided |
Yes |
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Incorporation details is applicable |
No |
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Last Accounts filed at ROC |
No |
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Major Shareholders, if available |
No |
TRADE REFERENCE:
· Hero Honda Motors limited
· Bajaj Auto Limited
· Maruti Udyog Limited
· Yamaha Motor India Private Limited
· Honda Motor Cycle and Scooter India Private Limited
WEBSITE DETAILS:
ABOUT THE
ORGNIZATION
Subject is now in process to obtain TS-16949:2009 certification was
established in 1969. Since the Group has its specialization for manufacturing
of precision machined and Forged components (Cold, Warm and Hot Forged).
Specifically Precision Engine Components for Two-Wheelers. Group has its eight
manufacturing units all over India. Micro Turners Rohtak and Gurgaon get
TS-16949:2002 Certification. Subject is a currently Rs.4500.000 Millions (turn
over) group company.
AWARDS
· Outstanding Quality Performance Award, from m/s Hero Honda Motors Limited Dharuhera (Haryana) India.
· Best Vendor Performance Award, From Yamaha Motor India Private Limited, Surajpur (U.P.) India.
· Value Engg. Merit Award, Yamaha Motor India Private Limited, Surajpur (UP) India
· Best Supplier Award for Delivery, From Honda Motor Cycle and Scooter India Private Limited, Gurgaon (Haryana) India
MILE STONES ACHIEVED
1969
Start of A. K. Automatics, Rohtak: Equipped with Sinlge Spindle Automats (Traubs) for manufacture of Precision Turned Components
1981
Establishment of Micro Turners, Rohtak: Equipped with Hot/Warm Forging Presses coupled with Induction Heaters, Resistance heating and Metal Gathering machines.
1983
1983 Establishment of Micro Turners, Parwanoo (HP): A dedicated unit to Maruti Udyog Limited for Manufacture and Supplies of Gear Shifting Rods
1984
1983 Approval received from Hero Honda as a vendor to start supply of engine/chasis components for motorcycles.
1993
Approval received from Bajaj Auto Limited to start supplies for cold Forged Axles/Cylinder head Bolts and other fasteners and precision machined components followed by supply of kick shaft assy in subsequent years.
1994
Addition of better heat treatment facilities including gas carburising and LCN treatment facilities.
1996
Addition of Gear shapers and Gear Hobbing machines to finish complete gears.
1998
Addition of facilities for Bearing Races manufacturing including track grinding.
2000
A K Automatics gets QS 9000 Quality Certification from DNV
2002
Establishment of Micro Turners, Barotiwala (HP)- Equipped with Four Die Five Station Part Formers, Knuckle Joint Presses, Hydraulic Presses, Long Stroke Headers, CNC Machines, CNC Grinders, Gear Hobbing /Gear Shapers for Manufacturing of Kick Shafts, Transmission Gears, Bearing Races, Cam Chain Sprockets, Ratchets and Gear/Pinion Kick Starter
2005
Establishment of Micro Turners, Chakan (Pune) – A dedicated Unit for BAL Akurdi & Chakan Plant for Supplies of Precision Machined and Forged Components, Kick Shafts Assemblies and Front & Rear Axls.
2005
Establishment of Micro Turners, Gurgaon (HR) – A Unit Equipped with Knuckle Joints Presses, Hydraulic Pressess, CNC Machines, Grinding Machines, Gear Hobbing Machines /Shappers for Manufacturing of Transmission Shafts and Gears, Cam Chain Sprockets, Gear Kick Starter etc. Sealed Quench Furnaces
2006
In-Process to Establish Micro Turners, Pantnagar (Uttrakhand): A dedicated Unit for BAL Pantnagar (Uttaranchal)
2009
Establishment of Micro Turners, Haridwar- (Uttrakhand) - A dedicated unit for Hero Honda Motors Limited, Haridwar (Uttrakhand) for supplies of Precision Machined and Forged Components.
2010
In-Process – A new unit of Micro Turners is in Process at Nalagarh, (Himachal Pradesh)
2010
Micro Turners, Gurgaon gets TS-16949:2002 Certification
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.51.42 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
57 |
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.