MIRA INFORM REPORT
|
Report Date : |
29.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
VOLKSWAGEN GROUP SALES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-168439 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2042.241 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50401MH2007FTC168439 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14548C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCV4413F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company engaged in business of Selling, Distributing, Exporting
and Marketing Automotive Vehicles and Related Parts, Components and
Accessories. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8880000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Volkswagen International Finance N.V., Netherlands’.
It is a well-established company having a good track record. It is the sales
and marketing arm for Volkswagen and Audi brands. It undertakes sales
promotion, dealer identification and dealer development for these brands. The subject will continue to receive operational and financial support
from its parent company. Trade relations are reported as decent. Business is active. Payment
terms are reported as regular and as per commitment. The company can be considered 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA- (Long term rating) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
05.06.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short term rating) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
05.06.2012 |
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.
INFORMATION DECLINED
Management Non Co-operative (Date: 26.12.2012)
[Tel No.: 91-22-40547000]
LOCATIONS
|
Registered Office : |
3 North Avenue, Level 3/4, Maker Maxity, Bandra-Kurla, Complex, Bandra
(East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-40547000 |
|
Fax No.: |
91-22-40547100 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 27.09.2011
|
Name : |
Maik Stephan |
|
Designation : |
Managing director |
|
Address : |
4th Floor, Sea Wind, Oberoi Enclave, Juhu, Mumbai-400049,
Maharashtra, India |
|
Date of Birth/Age : |
16.01.1968 |
|
Date of Appointment : |
31.07.2009 |
|
DIN No.: |
02713507 |
|
|
|
|
Name : |
Karl Sempf |
|
Designation : |
Director |
|
Address : |
Steesha Building Flat No.501, Mount Mary Road, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
17.09.1969 |
|
Date of Appointment : |
19.11.2010 |
|
DIN No.: |
03298957 |
|
|
|
|
Name : |
Dietmar Hildebrandt |
|
Designation : |
Director |
|
Address : |
3, North Avenue, Level, 3/4 Maker Maxity, Bandra Kurla Complex, Bandra
(East), Mumbai-400051, Maharashtra, India |
|
Date of Birth/Age : |
29.09.1958 |
|
Date of Appointment : |
19.11.2010 |
|
DIN No.: |
03298934 |
|
|
|
|
Name : |
Mr. Michael Becud Perschke |
|
Designation : |
Director |
|
Address : |
3, North Avenue, Level, 3/4 Maker Maxity, Bandra Kurla Complex, Bandra
(East), Mumbai-400051, Maharashtra, India |
|
Date of Birth/Age : |
26.07.1967 |
|
Date of Appointment : |
19.11.2010 |
|
DIN No.: |
03268267 |
|
|
|
|
Name : |
Mr. Neeraj Ved Prakash Garg |
|
Designation : |
Director |
|
Address : |
P-496, Sector 21, Jal Vayu Vihar, Noida-201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.09.1960 |
|
Date of Appointment : |
31.03.2009 |
|
DIN No.: |
00853757 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Somnath Kamath |
|
Designation : |
Secretary |
|
Address : |
Room No.1, Dubhash Building, Gokhale Road, Dadar, Mumbai-400028,
Maharashtra, India |
|
Date of Birth/Age : |
04.07.1976 |
|
Date of Appointment : |
01.07.2008 |
|
PAN No.: |
AKSPK6665R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Equity Shareholders |
|
No. of Shares |
|
Volkswagen International Finance N.V., Netherlands |
|
18419737 |
|
Volkswagen A.G., Germany |
|
1 |
|
Total |
|
18419738 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Volkswagen A.G., Germany |
|
185804330 |
|
Total |
|
185804330 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2011
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company engaged in business of Selling, Distributing, Exporting and
Marketing Automotive Vehicles and Related Parts, Components and Accessories. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||
|
|
|
|||||||||
|
Bankers : |
Information declined by management |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252 Veer
Sarvarkar Marg, Shivaji Park, Dadar(West), Mumbai-400028, Maharashtra, India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Holding Company
: |
Volkswagen International Finance N.V., Netherlands |
|
|
|
|
Ultimate
Holding Company : |
Porsche Automobile Holding SE |
|
|
|
|
Company which indirectly controls
the entity through an intermediary : |
Volkswagen AG, Germany |
|
|
|
|
Fellow
Subsidiary Companies : |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18419738 |
Equity Shares |
Rs.10/- each |
Rs. 184.197 Millions |
|
185804330 |
Preference Shares |
Rs.10/- each |
Rs. 1858.043 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2042.241
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18419738 |
Equity Shares |
Rs.10/- each |
Rs. 184.197 Millions |
|
185804330 |
Preference Shares |
Rs.10/- each |
Rs. 1858.043 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2042.241
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 |
2042.241 |
2042.241 |
2042.241 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
178.741 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(886.905) |
(1789.423) |
|
|
NETWORTH |
2220.982 |
1155.336 |
252.818 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1048.718 |
35.296 |
1152.189 |
|
|
TOTAL BORROWING |
1048.718 |
35.296 |
1152.189 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3269.700 |
1190.632 |
1405.007 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
643.231 |
632.640 |
428.511 |
|
|
Capital work-in-progress |
60.187 |
26.053 |
31.229 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
435.966 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3537.016
|
523.703 |
418.619 |
|
|
Sundry Debtors |
4492.417
|
1416.626 |
232.369 |
|
|
Cash & Bank Balances |
4.848
|
1488.167 |
80.364 |
|
|
Other Current Assets |
0.144
|
5.350 |
0.023 |
|
|
Loans & Advances |
3626.917
|
1227.244 |
1612.697 |
|
Total
Current Assets |
11661.342
|
4661.090 |
2344.072 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7734.109
|
3715.456 |
869.146 |
|
|
Other Current Liabilities |
598.185
|
47.633 |
452.745 |
|
|
Provisions |
1198.732
|
366.062 |
76.914 |
|
Total
Current Liabilities |
9531.026
|
4129.151 |
1398.805 |
|
|
Net Current Assets |
2130.316
|
531.939 |
945.267 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3269.700 |
1190.632 |
1405.007 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
46207.212 |
12739.994 |
7550.812 |
|
|
|
Other Income |
301.187 |
613.482 |
211.412 |
|
|
|
TOTAL (A) |
46508.399 |
13353.476 |
7762.224 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Traded Goods |
|
10093.734 |
6726.559 |
|
|
|
Personnel Cost |
|
456.331 |
384.483 |
|
|
|
Administration and other expenses |
|
949.415 |
826.551 |
|
|
|
Selling and Distribution expenses |
|
498.175 |
743.123 |
|
|
|
TOTAL (B) |
44918.766 |
11997.655 |
8680.716 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1589.633 |
1355.821 |
(918.492) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
295.435 (Including
Interest and Depreciation) |
22.291 |
116.847 |
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1333.530 |
(1035.339) |
||
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
226.814 |
100.599 |
||
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1294.198 |
1106.716 |
(1135.938) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
228.552 |
204.197 |
13.732 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1065.646 |
902.519 |
(1149.670) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(886.904) |
(1789.423) |
(639.753) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
178.742 |
(886.904) |
(1789.423) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Management Services |
|
55.550 |
46.473 |
|
|
|
Commission |
NA |
5.750 |
1.641 |
|
|
|
Miscellaneous Income |
|
13.226 |
0.000 |
|
|
|
Transport Charges |
|
0.272 |
0.000 |
|
|
|
Warranty expenses reimbursed |
|
1.472 |
0.000 |
|
|
|
Consultancy Fees |
|
0.926 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
77.196 |
48.114 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
NA |
1700.645 |
1280.025 |
|
|
|
Capital Goods |
|
83.622 |
97.033 |
|
|
TOTAL IMPORTS |
NA |
1784.267 |
1377.058 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
57.85 |
49.00 |
(62.42) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.29
|
6.76 |
(14.810 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.80
|
8.69 |
(15.04) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.52
|
20.91 |
(40.97) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.96 |
(4.49) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.76
|
3.60 |
10.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.13 |
1.68 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
2.530 |
0.000 |
0.000 |
|
Creditors due others |
7731.579 |
3715.456 |
869.146 |
|
Total |
7734.109
|
3715.456 |
869.146 |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
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 |
Yes |
Note
The registered office of the company has been shifted from Vakils House,
18 Sprott Road, Ballard Estate, Mumbai-400001, Maharashtra, India to the present
address w.e.f. 15.09.2008
Operations
During the year, the Company has made a net profit of Rs. 1065.646
millions after tax.
Market / Business Overview
During the period
ended March 31, 2011, the Company has collectively sold 53,535 cars of Volkswagen
Passenger Cars and Audi as a result of which the company could achieve sales of
Rs. 46207.212 millions (includes turnover of spare parts, accessories and
tools). The company is optimistic of achieving higher sales figures in the
forthcoming year.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2011 |
|
Guarantees given by bank to the Customs authorities on
behalf of the Company |
-- |
|
Bonds
executed by the Company in favour of The President of India representing commitment
towards provisional assessment of the value of goods imported by the Company
under the Customs Act, 1962. |
5639.327 |
|
Total |
5639.327 |
FIXED ASSETS
v Tangible Assets
- Computers
- Office
Equipments
- Furniture and
Fixtures
- Leasehold
Equipments
- Tools and
Equipment
- Vehicles
v Intangible Assets
- Computer
Software
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.54.85 |
|
|
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
51 |
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.