1. Summary Information
|
|
|
Country |
|
|
Company Name |
FORD INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Michael
Boneham |
|
Status |
Moderate |
Principal Name 2 |
Mr. Kuljit Singh
Rana |
|
|
|
Registration # |
|
|
Street Address |
S P Koil Post, Kancheepuram District
Chengalpattu – 603204, |
||
|
Established Date |
09.08.2000 |
SIC Code |
-- |
|
Telephone# |
91-4114-27454375 |
Business Style 1 |
Manufacturing and
Marketing of Passenger Cars (Ford Ikon) |
|
Fax # |
91-4114-27455177 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
22000 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.21,220,000,000 |
Product Name 3 |
-- |
|
Shareholders |
Ford Motor Company, USA - 178498014 |
Banking |
Indian Overseas Bank |
|
Public Limited Corp. |
-- |
Business Period |
12 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
B (35) |
|
Related
Company |
|||
|
Relation
Fellow Subsidiaries |
Country
Mexico |
Company
Name |
Ford Motor Company |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
7,869,887,000 |
Current Liabilities |
14,324,104,000 |
|
Inventories |
6,395,683,000 |
Long-term Liabilities |
14,180,957,000
|
|
Fixed Assets |
22,393,341,000 |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
28,505,061,000 |
|
Invest& other Assets |
1,038,281,000 |
Retained Earnings |
10,000,000 |
|
|
|
Net Worth |
9,192,131,000 |
|
Total Assets |
37,697,192,000 |
Total Liab. & Equity |
37,697,192,000 |
|
Total Assets (Previous Year) |
35,567,653,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
56,105,400,000 |
Net Profit |
(1,074,900,000) |
|
Sales(Previous yr) |
24,962,400,000 |
Net Profit(Prev.yr) |
(1,584,200,000) |
MIRA
INFORM REPORT
|
Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
S P Koil Post, Kancheepuram District
Chengalpattu – 603204, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
09.08.2000 |
|
|
|
|
Com. Reg. No.: |
18-45537 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.21220.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34103TN2000PTC045537 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM02210F |
|
|
|
|
Legal Form : |
Private Limited
Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing and
Marketing of Passenger Cars (Ford Ikon) |
|
|
|
|
No. of Employees
: |
22000
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 37130000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a
subsidiary of Ford Motors USA, an auto giant. It is an established company
having moderate track. Indian operations of the company is not doing well. Profitability
of the company is under pressure. However, trade relations are reported as
fair. Business is active. Payments are reported to be usually correct and as
per commitments. The company can
be considered normal 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office/ Factory/ Corporate Office : |
S P Koil Post, Kancheepuram District
Chengalpattu – 603204, |
|
Tel. No.: |
91-4114-27454375 |
|
Fax No.: |
91-4114-27455177 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
350 Acres |
|
Location : |
Outskirts |
|
|
|
|
Corporate
Office - North: |
3rd Floor, Building 10C, DLF
Cyber City, DLF Phase – II, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-3873001 |
|
Fax No.: |
91-124-3873999 |
|
|
|
|
Regional
Office : |
West
301, Tel. : 91-22-67024300 Fax: 91-22-67024305 South
Block – 1B, 1st Floor, Tel. : 91-44-24551500 Fax : 91-44-24559965 East
55/55/1, Chowringhee Road, Chowringhee
Court, Unit 33, 2nd Floor, Opp. Nehru Children Museum, Kolkata –
500071, West Bengal, India Tel. : 91-33-40073930-34 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Michael
Boneham |
|
Designation : |
Managing Director
|
|
Address : |
No.5, 1st
Floor, Green Cresent Apartment, |
|
Date of Birth/Age : |
10.08.1957 |
|
Date of Appointment : |
02.06.2008 |
|
DIN No.: |
02226784 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U34103TN2000PTC045537 |
FORD INDIA
PRIVATE LIMITED |
Managing
director |
02-06-08 |
02-06-08 |
- |
Active |
NO |
|
2 |
U74140HR2009FTC039243 |
Volvo Auto India
Private Limited |
Additional
director |
27-07-09 |
27-07-09 |
23-03-10 |
Active |
NO |
|
Name : |
Mr. Kuljit Singh
Rana |
|
Designation : |
Whole Time
Director |
|
Address : |
Mayflower
Apartment, No.9, |
|
Date of Birth/Age : |
13.05.1965 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
02680026 |
|
|
|
|
Name : |
Mr. Joseph R
Hinrichs |
|
Designation : |
Director |
|
Address : |
36th
Floor, SIT, 211, Century Avenue, Shanghal -200120 |
|
Date of Birth/Age : |
26.12.1966 |
|
Date of Appointment : |
24.03.2010 |
|
DIN No.: |
02982156 |
|
|
|
|
Name : |
Mr. Dannie Morris |
|
Designation : |
Director |
|
Address : |
36th
Floor, SIT, 211, Century Avenue, Shanghal -200120 |
|
Date of Birth/Age : |
06.03.1956 |
|
Date of Appointment : |
24.03.2010 |
|
DIN No.: |
02967477 |
KEY EXECUTIVES
|
Name : |
Mr. S Ramesh
(Indian) |
|
Designation : |
Company Secretary |
|
Address : |
No.10 Panchayat
Colony, Radha Nagar, Chrompet, Chennai 600 044 |
|
Date of Birth/Age : |
11.10.1975 |
|
Date of Appointment : |
10.06.2005 |
|
Pan No.: |
AFLPR7910J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ford Motor
Company, |
|
178498014 |
|
Ford International
Services Inc., |
|
33701986 |
|
Total |
|
212200000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
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 : |
Manufacturing and
Marketing of Passenger Cars (Ford Ikon) |
|
|
|
|
Products : |
Passenger Cars |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
31.03.2011 |
|
|
|
|
Installed
Capacity |
200,000 passenger cars |
GENERAL INFORMATION
|
No. of Employees : |
22000
(Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
Indian
Overseas Bank, Nandanar Street, NH-2, Maraimalai Nagar – 603 209, ·
ICICI
Bank Limited, |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants, Chennai. |
|
Address : |
32, |
|
PAN.: |
AABFL5878L |
|
|
|
|
Holding
Company : |
Ford Motor
Company, |
|
|
|
|
Fellow Subsidiaries: |
Cin No.: U74120TN1998PTC041070
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000000 |
Equity Shares |
Rs.100/- each |
Rs.25000.000
millions |
|
50000000 |
Preferences Share
|
Rs.100/- each |
Rs.5000.000
millions |
|
Total |
|
Rs.30000.000 millions |
|
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
212200000 |
Equity
Shares |
Rs.100/- each |
Rs.21220.000
millions |
|
|
|
|
|
NOTE:
Of the above 178,498,014
(Previous year 165,880,314) equity shares are held by Ford Motor Company, USA, the
Holding Company 33,701,986 (Previous year-31,319,686) equity shares are held by
Ford International Services, USA, a 100% subsidiary of Ford Motor Company, USA
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 |
21220.000 |
21220.000 |
19720.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.000 |
10.000 |
10.000 |
|
|
4] (Accumulated Losses) |
(12037.869) |
(10962.910) |
(9378.680) |
|
|
NETWORTH |
9192.131 |
10267.090 |
10351.320 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1069.731 |
2080.688 |
2762.726 |
|
|
2] Unsecured Loans |
13111.226 |
10556.095 |
5308.209 |
|
|
TOTAL BORROWING |
14180.957 |
12636.783 |
8070.935 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
23373.088 |
22903.873 |
18422.255 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
22393.341 |
20444.119 |
8687.655 |
|
|
Capital work-in-progress |
1038.281 |
2301.249 |
6102.509 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
618.593 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6395.683
|
5446.956 |
2500.049
|
|
|
Sundry Debtors |
1897.313
|
2413.883 |
2115.325
|
|
|
Cash & Bank Balances |
3461.320
|
2499.069 |
2676.653
|
|
|
Other Current Assets |
109.351
|
115.653 |
161.822
|
|
|
Loans & Advances |
2401.903
|
2346.724 |
2426.415
|
|
Total
Current Assets |
14265.570
|
12822.285 |
9880.264 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13163.319
|
11909.207 |
6166.943
|
|
|
Other Current Liabilities |
666.303
|
472.748 |
359.070
|
|
|
Provisions |
494.482
|
281.825 |
341.970
|
|
Total
Current Liabilities |
14324.104
|
12663.780
|
6867.983 |
|
|
Net Current Assets |
(58.534)
|
158.505
|
3012.282 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
1.216 |
|
|
|
|
|
|
|
|
TOTAL |
23373.088 |
22903.873 |
18422.255 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
56105.400 |
24962.400 |
21196.800 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
56105.400 |
24962.400 |
21196.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing, administrative and selling Expenses |
54307.800 |
25472.300 |
21191.800 |
|
|
|
TOTAL |
54307.800 |
25472.300 |
21191.800 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1797.600 |
(509.900) |
5.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
476.000 |
(147.700) |
(297.400) |
|
|
|
|
|
|
|
|
|
Less: |
CAPITALISED |
(413.400) |
509.600 |
116.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1735.000 |
(301.900) |
(176.000) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2809.900 |
(1435.500) |
(985.200) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(1074.900) |
(1583.500) |
(1161.200) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(0.700) |
(21.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(1074.900) |
(1584.200) |
(1182.200) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(10962.900) |
(9378.600) |
(8196.400) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(12037.800) |
(10962.900) |
(9378.600) |
|
|
|
|
|
|
|
|
|
|
Earnings/loss
Per Share (Rs.) |
(5.07) |
(7.88) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(0.02)
|
(6.35)
|
(5.58)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.93)
|
(4.83)
|
(6.25)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12)
|
(0.15)
|
(0.11)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.07
|
2.46 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99
|
1.01
|
1.44
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
8) No. of employees |
Yes |
|
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% |
No |
|
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 |
Yes |
|
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 |
Yes |
|
30) Major Shareholders, if
available |
Yes |
NEW BUSINESS
ACTIVITY
The Company installed a new Cylinder Head / Block and Crank machining line as part of its new engine plant with a machining capacity of 250K units per annum. This facility will ensure a smooth supply of machined components to the vehicle assembly.
Apart from the above, the Company also commenced work on increasing the capacity of its diesel engine manufacturing capacity from 80K to 160K units per annum.
BUSINESS PLAN
The Company announced its plans to introduce 8 new vehicles
in
Also, as part of a strategic divesture, the company sold off
its Whole sale finance division and exited from the financing business.
CONTINGENT
LIABILITIES
(i) The Company has availed customs duty concession to the tune of Rs.1171.419 millions (Previous year Rs.1171.419 millions) for imports under the Export Promotion Capital Goods (EPCG) scheme. In the opinion of the management, considering the various beneficial provisions available in the EPCG Scheme as well as the future exports envisaged, the company does not expect any significant financial obligation / liability and is in the process of meeting the export obligation in due course.
(ii) Claims against the company not acknowledged as debt with respect to disputed excise, sales tax and other matters including the claim referred to in point 6 (i) above amounts to Rs.1281.800 millions (Previous year Rs.915.230 millions).
(iii) The contingent liability disclosed in point (ii) above includes Rs.309.310 millions (Previous year Rs.309.310 millions) in respect of an adverse order received from the excise authorities denying cenvat credit availed in earlier years pertaining to export operations. Pursuant to Tribunal order, the company had deposited Rs.197.773 millions (Previous year Rs.197.773 m millions) under protest. The company has also preferred rebate claims in respect of the said exports in case the cenvat credit is denied. Based on legal opinion, the company expects relief either in the form of cenvat credit or rebate without any interest or penalty liability and accordingly the disputed amount, including interest and penalty, has been reflected as a contingent liability in the financial statements.
(iv) Financial guarantees outstanding - Rs.519.879 millions (Previous year Rs.142.164 millions)
Fixed Assets:
- Land-Freehold
- Building
- Plant and Machinery
- Computers
- Furniture and Fixtures
- 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 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.56.28 |
|
|
1 |
Rs.88.25 |
|
Euro |
1 |
Rs.70.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
35 |
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.