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Report Date : |
25.02.2012 |
IDENTIFICATION DETAILS
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Name : |
NHK AUTOMOTIVE COMPONENTS INDIA PRIVATE LIMITED (w.e.f December 2011) |
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Formerly Known
As : |
BCL SPRINGS DIVISON BOMBAY BURMAH TRADING COMPANY |
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Registered
Office : |
Plot No.31, Sector – 3, IMT, Manesar, Gurgaon – 122050, Haryana |
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Country : |
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Date of
Incorporation : |
20.07.2011 |
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Com. Reg. No.: |
043452 |
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Capital
Investment / Paid-up Capital : |
Rs.400.000 Millions |
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CIN No.: [Company Identification
No.] |
U35900HR2011FTC043452 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RTKN02964D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Springs |
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No. of Employees
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250 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and establishing itself gradually. Trade
relations are fair. Business is active. Payments are unknown. The company can be considered for business dealings with some
cautions. Note: Subject has acquired the springs division (BCL Springs) of
Bombay Burmah Trading Corporation Limited w.e.f December 2011 |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
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Name : |
Mr. Abhay |
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Designation : |
Assistant Manager |
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Contact No.: |
91-240-6637000 |
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Date : |
22.02.2012 |
LOCATIONS
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Registered Office : |
Plot No.31, Sector – 3, IMT, Manesar, Gurgaon – 122050, Haryana, India
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9823322406 (Mr. A. K. Parlikar) |
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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: |
F-13, MIDC Industrial Area, Chikalthana, Aurangabad –
431210, Maharashtra, India |
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Tel No.: |
91-240-6637000 |
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Fax No.: |
91-240-6637277 |
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Email : |
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Factory 2: |
K-103, MIDC Industrial Area, Waluj, Aurangabad – 431136,
Maharashtra, India |
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Tel No.: |
91-240-2551328, 2553087 |
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Fax No.: |
91-240-2553088 |
DIRECTORS
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Name : |
Mr. Toru Kadowaki |
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Designation : |
Director |
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Address : |
305-A, Hamiliton Court, DLF City, Phase – IV, Gurgaon – 122002,
Haryana, India |
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Date of Birth/Age : |
26.04.1957 |
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Email : |
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DIN No.: |
02315634 |
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Other Directorship : |
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Name : |
Mr. Kazuya Matuoshima |
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Designation : |
Director |
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Name : |
Mr. Hitoshi Hashimoto |
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Designation : |
Director |
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Address : |
5-6-8-HINO, Kounan District, Yokohama |
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Date of Birth/Age : |
12.03.1962 |
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Date of Appointment : |
11.11.2011 |
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Email : |
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DIN No.: |
03588830 |
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Other Directorship : |
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KEY EXECUTIVES
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Name : |
Mr. A. K. Parlikar |
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Designation : |
Office Executive |
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Email : |
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Name : |
Mr. P. K. Hingolikar |
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Designation : |
Chief Operating Officer |
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Email : |
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Name : |
Mr. A. Gaffar |
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Designation : |
Plant – Head |
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Email : |
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Name : |
Mr. Abhay |
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Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 05.07.2011)
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Names of Shareholders |
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No. of Shares |
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NHK Springs Company Limited, Japan |
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49999 |
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NHK Spring (Hongkong) Company Limited, Hong Kong |
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1 |
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Total |
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50000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Automotive Components. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers: |
·
Tata Steel |
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Customers : |
Wholesalers, Retailers ·
Mahindra · Maruti |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
· Axis Bank , Aurangabad Main Branch, Maharashtra, India · ICICI Bank, Aurangabad Main Branch, Maharashtra, India · HDFC Bank |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S K Parikh and Company Chartered Accountant |
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Holding Company : |
NHK Springs Company Limited, Japan |
CAPITAL STRUCTURE
Authorised Capital : Rs.400.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.400.000 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
LOCAL AGENCY FURTHER INFORMATION
Notes: As conformed from Mr. Abhay (Assistant Manager) Subject has
changed name Automotive Component India Private Limited in Year December
2011
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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 |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
----- |
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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 three years |
----- |
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Profitability for last three years |
----- |
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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 |
No |
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Major Suppliers |
Yes |
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Major Customers |
Yes |
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Payments Terms |
Yes |
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Export/ Imports Details (If applicable) |
No |
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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 |
----- |
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Conduct of the Banking Account |
----- |
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Buyer visit details |
----- |
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Financials, if provided |
No |
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Incorporation details is applicable |
----- |
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Last Accounts filed at ROC |
----- |
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Major Shareholders, if available |
----- |
WEBSITE DETAILS:
INTRODUCTION
The Precision Spring division of the Bombay Company Limited (BCL) was set up in 1985 in technical collaboration with NHK Spring Company Limited, Japan, to manufacture Cold Coiled Precision Springs. It commenced commercial production in 1987. In 1992, The Bombay Company Limited was merged into The Bombay Burmah Trading Corporation Limited, (BBTCL) and springs division of BBTCL was known as BCL springs. In 2011, the division again changed hands with NHK Automotive Components India private Limited acquiring the unit from BBTCL.
1985 Technical collaboration with NHK Spring Company, Japan
1987 Commenced commercial production
1992 Merged into The Bombay Burmah Trading Corporation Limited
2001 Developed Valve springs out of High Tensile Wire for MUL
2002 Turnover increased from Rs. 100 M during 1996 to Rs. 170 M
2002 QS 9000 certified by BVQI
2003 New plant for manufacture of Suspension springs.
2004 Capacity increased to 6000 MT.
2005 TS 16949 certification by BVQI
2006 Plant capacity increased to 8400 MT.
2007 Plant capacity increased to 10000 MT.
2010 Plant approved by General Motors for Valve Springs.
2011 Plant approved by Honda Siel Cars for Valve Springs.
2011 Taken over by NHK Automotive Components India Private Limited
COLLABORATION
NHK Spring Company
Limited is working in the diversified business areas like Suspension Spring,
Automotive Seats, Precision Spring and Components, Suspensions for HDD,
Industrial Machinery and Equipment (Brazed Products, Ceramic Products, Pipe
Support System, Polyurethane Foam Products, Metal Base Printed Wiring Board,
Multi-Level Automatic Parking System,), Information and Security Systems.
Press Release
India's Bombay Burmah
to sell BCL Springs Division to NHK Automotive for around Rs 1.80 billions
Mumbai: India-based Bombay Burmah Trading Corporation Limited (BOM:501425) has agreed to sell its BCL Springs division, which manufactures and markets various types of springs used in the automotive industry, to NHK Automotive Components India, a unit of Japan’s NHK Springs Co, for around Rs 1.80 billion, it said Wednesday.
The stake sale, however, is subject to the shareholders' and regulatory approvals, the company said in a statement to the Bombay stock Exchange (BSE).
"The firm is selling the division as a going concern on a slump sale basis to NHK Automotive on terms and conditions as contained in the Business Transfer Agreement which has been signed between the parties on September 7, 2011," it said.
"The decision to sell BCL Springs Division is in line with the corporation’s policy to restructure its business portfolio to enable greater focus on its core activities."
Last month, Bombay Burmah agreed to sell its Sunmica Division, which manufactures and markets decorative and industrial laminates, to AICA Laminates India Private Limited, a unit of Japan's AICA Kogyo Limited, for around Rs 1 billion.
The company has diversified business interests in tea, coffee, timber, rubber, cardamom and pepper. It also deals in decorative and industrial laminates such as phenolic laminates, health care/dental products, auto ancillary products and weighing products.
Shares of Bombay Burmah closed at Rs 465.70 , up 1.66%, the on BSE Wednesday.
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.07 |
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1 |
Rs.77.19 |
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Euro |
1 |
Rs.65.57 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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28 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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- |
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.