MIRA INFORM REPORT
|
Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
TOKAI IMPERIAL RUBBER INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
202-203, Kushal Bazar 32-33, Nehru Place, New Delhi - 110019 |
|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
18.11.2005 |
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|
|
|
Com. Reg. No.: |
55-142682 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 246.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25191DLC2005PTC142682 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT4094J |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of automobile and IT components |
|
|
|
|
No. of Employees
: |
Not Available |
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 260000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of Tokai Rubber Industries Limited, Japan. It is an established company having moderate track record. Latest
financial i.e. 2011-12 are missing from government department. From the financial
of 2011 it seems that the company has recorded huge accumulated losses.
However, trade relations are reported as fair. Business is active. Payments
are reported 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
202-203, Kushal Bazar 32-33, Nehru Place, New Delhi - 110019, India. |
|
Tel. No.: |
91-1275-262102 |
|
Fax No.: |
91-1275-262106 |
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E-Mail : |
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|
Website : |
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Corporate Office 1 : |
45 Miles Stone VPO Prithla Delhi-Mathura Road, District-Palwal,
Faridabad- 121102, Haryana, India |
|
Tel. No.: |
91-1275-262103 / 262102 / 262105 |
|
Fax No.: |
91-1275-262106 |
|
|
|
|
Corporate Office
2 : |
Plot No. 94, Sector 25, Faridabad - 121004, Haryana, India |
|
Tel. No.: |
91-129-2233281/ 2231148/ 2232993 |
|
Fax No.: |
91-129-2441028 |
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|
Branch Office : |
Sy No. 65, No. 48-D, KIADB Industrial Area Yellapura Village, Doddaballapura, District Bangalore Rural – 561203, Karnataka, India |
|
Tel. No.: |
91-80-2763-0025 |
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Fax No.: |
91-80-2763-0040 |
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|
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|
Overseas Office : |
Located at:
|
DIRECTORS
As on: 05.09.2012
|
Name : |
Mr. Sham Bihari Sardana |
|
Designation : |
Director |
|
Address : |
House No D-99,Panchsheel Enclave, New Delhi, India |
|
Date of Birth/Age : |
21.03.1944 |
|
Date of Appointment : |
18.11.2005 |
|
DIN No.: |
00109418 |
|
|
|
|
Name : |
Mr. Jagjit Singh Lamba |
|
Designation : |
Director |
|
Address : |
House No -9 Sector -18 A, Faridabad, Haryana, India |
|
Date of Birth/Age : |
15.09.1938 |
|
Date of Appointment : |
18.11.2005 |
|
DIN No.: |
00109439 |
|
|
|
|
Name : |
Mr. Junichi Yamada |
|
Designation : |
Managing Director |
|
Address : |
RM 204, 1-36-4, Gonaka, |
|
Date of Birth/Age : |
27.11.1962 |
|
Date of Appointment : |
04.02.2010 |
|
DIN No.: |
02947784 |
|
|
|
|
Name : |
Mr. Manav Mittal |
|
Designation : |
Director |
|
Address : |
House No.1910, Sector-16, Faridabad, Haryana, India |
|
Date of Birth/Age : |
29.07.1975 |
|
Date of Appointment : |
16.07.2009 |
|
DIN No.: |
03075095 |
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|
|
|
Name : |
Mr. Katsunori Kanaoka |
|
Designation : |
Director |
|
Address : |
7-14-22, Degawa, Kasugai City, Aichi Prefecture, Japan |
|
Date of Birth/Age : |
31.01.1958 |
|
Date of Appointment : |
01.06.2011 |
|
DIN No.: |
03535231 |
|
|
|
|
Name : |
Mr. Minoru Kawasaki |
|
Designation : |
Director |
|
Address : |
401, ST. Shante, 3322-2, Matsushincho, 5 Chome, Kasugai Shi, Aichi-486093, Japan |
|
Date of Birth/Age : |
04.08.1958 |
|
Date of Appointment : |
05.09.2012 |
|
DIN No.: |
06376774 |
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|
|
|
Name : |
Mr. Yukinori Nakayama |
|
Designation : |
Director |
|
Address : |
94 Nijigaoka, 5-Chome, Kani-sbi-5090261, Japan |
|
Date of Birth/Age : |
28.11.1958 |
|
Date of Appointment : |
05.09.2012 |
|
DIN No.: |
06376775 |
KEY EXECUTIVES
|
Name : |
Ms. Riti Arora |
|
Designation : |
Secretary |
|
Address : |
H No. # 1746, N.I.T., Faridabad-121005, Haryana, India |
|
Date of
Birth/Age : |
29.11.1986 |
|
Date of
Appointment : |
22.03.2010 |
|
Pan No.: |
ARLPA6936H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 05.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Tokai Rubber Industries
Limited, Japan |
|
147600 |
|
Imperial Auto Industries Limited, India |
|
98400 |
|
|
|
|
|
Total |
|
246000 |
As on: 05.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companies(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
60.00 |
|
Bodies corporate |
40.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of automobile and IT components |
||||
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||||
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Automotive Hoses (Manufactured) |
Meters |
4680000 |
15435257 |
|
Automotive Hoses (Repackaged/ relabeled) # |
Meters |
-- |
177150 |
Note
- Installed capacity is as certified by management and have not been verified
by the auditors, being a technical matter.
- Installed capacity is in running length, while actual output is in
numbers of pieces of automotive hoses produced based upon specific lengths
as ordered by customers.
- The actual production does not include free issues of finished
goods during the year.
# These represent
automotive hoses imported and sold after repackaging, inspection, lubrication,
checking of fitment and relabelling. Hence, in respect of such goods there is
no corresponding installed capacity.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City Phase -II,Gurgaon-122002, Haryana, India |
|
PAN.: |
AABFD2095B |
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Holding Company / Ultimate Holding Company: |
Tokai Rubber
Industries Limited, Japan |
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Fellow Subsidiaries : |
Inoac
Tokai(Thailand) Company Limited |
|
|
|
|
Entity holding
substantial interest in the Company : |
Imperial Auto
Industries Limited, India |
|
|
|
|
Entity over
which the Company has significant influence : |
S.J. Rubber
Industries Limited ( Partnership firm till December 31,2010) |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
246000 |
Equity Shares |
Rs.1000/- each |
Rs.246.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
246000 |
Equity Shares |
Rs.1000/-
each |
Rs.246.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
246.000 |
246.000 |
246.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(180.459) |
(255.389) |
(373.500) |
|
|
NETWORTH |
65.541 |
(9.389) |
(127.500) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
109.000 |
261.694 |
279.000 |
|
|
TOTAL BORROWING |
109.000 |
261.694 |
279.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
174.541 |
252.305 |
151.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
332.291 |
390.847 |
416.113 |
|
|
Capital work-in-progress |
3.490 |
0.149 |
3.594 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
145.007
|
104.378 |
99.604 |
|
|
Sundry Debtors |
112.623
|
44.398 |
26.730 |
|
|
Cash & Bank Balances |
8.968
|
8.859 |
9.644 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
70.067
|
98.253 |
92.664 |
|
Total
Current Assets |
336.665
|
255.888 |
228.642 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
463.409
|
365.905 |
486.935 |
|
|
Other Current Liabilities |
13.743
|
22.518 |
7.720 |
|
|
Provisions |
20.753
|
6.156 |
2.194 |
|
Total
Current Liabilities |
497.905
|
394.579 |
496.849 |
|
|
Net Current Assets |
(161.240)
|
(138.691) |
(268.207) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
174.541 |
252.305 |
151.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
745.945 |
468.962 |
222.627 |
|
|
|
Other Income |
9.349 |
58.434 |
0.579 |
|
|
|
TOTAL (A) |
755.294 |
527.396 |
223.206 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material and components consumed |
|
270.062 |
158.490 |
|
|
|
Increase/ decrease in Stock |
|
(8.728) |
1.827 |
|
|
|
Personnel Costs |
|
34.366 |
23.194 |
|
|
|
Manufacturing Expenses |
|
79.440 |
188.027 |
|
|
|
Other Expenses |
|
1.697 |
0.970 |
|
|
|
TOTAL (B) |
588.507
(Including Financial Expenses) |
376.837 |
372.508 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
150.559 |
(149.302) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
24.021 |
27.396 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
166.787 |
126.538 |
(176.698) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
71.654 |
60.041 |
51.163 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
95.133 |
66.497 |
(227.861) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
20.203 |
(51.615) |
0.715 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
74.930 |
118.112 |
(228.576) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
(228.576) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
350.089 |
244.817 |
189.007 |
|
|
|
Stores & Spares |
24.295 |
18.750 |
25.960 |
|
|
|
Capital Goods |
4.047 |
26.807 |
74.118 |
|
|
TOTAL IMPORTS |
378.431 |
290.374 |
289.085 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
304.59 |
480.13 |
(929.17) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
9.92
|
22.40 |
(102.41) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.75
|
14.18 |
(102.35) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.22
|
10.28 |
(35.34) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.45
|
(7.08) |
0.93 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.26
|
(69.90) |
3.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.68
|
0.65 |
0.46 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BACKGROUND
Subject was
incorporated under the Companies Act, 1956 on November 18, 2005 for carrying
out the business of manufacturing, rubber hoses for Vehicles.
Results of
Operations:
The year was a transformational year for the Company. During the year, the Company has scaled new heights and set several new benchmarks in terms of sales. The volume growth coupled and enabled the Company to achieve significant improvement of the Company’s Performance. The total income of the Company was up by 43% at Rs.755.294 Millions compared to Rs.527.396 Millions during the previous year. The Income from Operations grew by 59% at Rs.745.945 Millions, compared to Rs.468.962 Millions during the previous year. The profit before taxation was also up by 43% at Rs.95.133 Millions compared to Rs.66.497 Millions in the previous year. The Company’s net profit for the year was Rs.74.929 Millions, compared to Rs.118.112 Millions in the previous year a decline in net profits was caused due to decrease in Foreign exchange fluctuation and absence of remission of liability by Tokai Rubber Industries Limited, Japan, which were present in the previous year.
FIXED
ASSETS
- Land freehold
- Buildings
- Plant and Machinery
- Tools and dies
- Furniture and fixture
- Office Equipment
- Computers
- Motor vehicles
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 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.54.39 |
|
|
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
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 |
|
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.