MIRA
INFORM REPORT
|
Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
VOLKSWAGEN INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-1, MIDC Industrial Area, Phase III, Village Nigoje Mhalunge,
Kharabwadi Chakan, Taluka Khed, Pune-410501, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.02.2007 |
|
|
|
|
Com. Reg. No.: |
11-133117 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14386.815
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102PN2007FTC133117 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14433G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Four Wheelers. |
|
|
|
|
No. of Employees
: |
4000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 23250000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of Volkswagen AG, Germany. It is an
established company having satisfactory track. There appears huge accumulated
losses recorded by the company. However, trade relations are reported as
fair. Business is active. Payments are reported to be usually correct and as
per commitments. In view of strong holding, the company can be considered normal for
business dealings at usual trade terms and conditions. Current year profit and loss account is not available. |
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
Management non co-operative.
LOCATIONS
|
Registered Office / Factory: |
E-1, MIDC Industrial Area, Phase III, Village Nigoje Mhalunge, Kharabwadi
Chakan, Taluka Khed, Pune-410501, Maharashtra, India |
|
Tel. No.: |
91-2135-661070 / 661000 / 063 / 661058 / 661060 / 661179 / 661024 |
|
Fax No.: |
91-2135-661047 / 661044 |
|
E-Mail : |
|
|
Website : |
http://www.volkswagen.co.in |
|
Area : |
700 acers |
|
Location : |
Owned |
DIRECTORS
AS ON 14.11.2011
|
Name : |
Mr. Wallapura John Chacko |
|
Designation : |
Managing Director |
|
Address : |
Alte Dorfstrabe 25, Waltingpfunz, 85137, |
|
Date of Birth/Age : |
26.03.1952 |
|
Date of Appointment : |
06.02.2007 |
|
Passport No.: |
8000785527 |
|
DIN No.: |
01251227 |
|
|
|
|
Name : |
Mr. Piyush Kumar Upadhyay |
|
Designation : |
Director |
|
Address : |
C 25, Konark Splendour, Vadgaonsheri Kalyani Nagar Extension,
Pune-411014, Maharashtra, India |
|
Date of Birth/Age : |
05.01.1973 |
|
Date of Appointment : |
04.01.2011 |
|
DIN No.: |
03486771 |
|
|
|
|
Name : |
Mr. Holger Nestler |
|
Designation : |
Director |
|
Address : |
Hotel Oakwood Premier, Pune 81, Mundhwa Road, Koregaon Park Annex,
Pune-411036, Maharashtra, India |
|
Date of Birth/Age : |
06.11.1970 |
|
Date of Appointment : |
04.01.2011 |
|
DIN No.: |
03486809 |
|
|
|
|
Name : |
Mr. Jurgen Klopffer |
|
Designation : |
Director |
|
Address : |
Bungalow No.545, Sindh Housing Society, Aundh, Pune-411045,
Maharashtra, India |
|
Date of Birth/Age : |
05.07.1964 |
|
Date of Appointment : |
04.01.2011 |
|
DIN No.: |
03486952 |
|
|
|
|
Name : |
Mr. Mahesh Subramanian Kodumudi |
|
Designation : |
Director |
|
Address : |
D-801, Waterfront, Kalyani Nagar, Pune-411006, Maharashtra, India |
|
Date of Birth/Age : |
28.07.1965 |
|
Date of Appointment : |
04.01.2011 |
|
DIN No.: |
03491209 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.11.2011
|
Names of Shareholders |
No. of Shares |
|
Volkswagen International Finance NV, Netherland |
129619931 |
|
Volkswagen AG, Deutschland |
1 |
|
Volkswagen AG, Deutschland |
337337000 |
|
TOTAL
|
466956932 |
|
Names of Preference Shareholders |
No. of Shares |
|
Volkswagen AG, Deutschland |
971724552 |
|
TOTAL
|
971724552 |
AS ON 14.11.2011
|
Equity Shares
Break Up |
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 : |
Manufacturer of Four Wheelers |
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|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Motor Car |
Nos. |
110000 |
648424113 |
Notes:
i) Installed capacity, as certified by the management
and accepted by the auditors without verification, being a technical matter
ii) All capacities are set up after 25.07.1991
an no licenses are required in terms of notification No.477 (E) under the
industries (development and regulation) Act, 1951. A declaration to this effect
has been mentioned in the industrial entrepreneur’s memorandum files in this
regard.
GENERAL INFORMATION
|
No. of Employees : |
4000 (Approximately) |
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|
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Bankers : |
·
HSBC Bank, Near · Deutsche Bank, Mumbai, Maharashtra, India |
||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Water House Chartered Accountants |
|
Address : |
Suite No.8, 5th Floor, Muttha Towers, Airport Road,
Yerwada, Pune-411006, Maharashtra, India |
|
Pan No.: |
AAEFP3614G |
|
|
|
|
Holding Company : |
Volkswagen AG, Germany |
|
|
|
|
Fellow Subsidiaries : |
Volkswagen Group Sales India Private Limited CIN No.: U50401MH2007FTC168439 |
|
|
|
|
Others : |
·
Skoda Auto A.S. ·
Volkswagen Coaching, Germany ·
Volkswagen Do Brasil Industria De Veeiculous
Automoters Limited ·
Volkswagen Of South Africa Pty. Limited ·
Volkswagen Navarra S.A. ·
Autoeuropa Automotive Limited ·
Audi Ag ·
Volkswagen Slovakia A.S. ·
Volkswagen De Mexico S.A. De C.V. ·
Shanghai Volkswagen Automotive Company Limited ·
Volkswagen Group Of America, Inc ·
Volkswagen Sachsen GmbH ·
Volkswagen Zubehor GmbH ·
Volkswagen International Finance N.V. Iav GmbH ·
Volkswagen Motorsport GmbH ·
Volkswagen Logistics GmbH ·
Porsche Consulting GmbH ·
Volkswagen Goa Chattanooga Operations LLC ·
Volswagen Bildungsinstitut GmbH ·
Audi Brussels SA |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
466956932 |
Equity Shares |
Rs.10/- each |
Rs. 4669.569 Millions |
|
971724552 |
Non-Cumulative, Non-Convertible, Redeemable Preference Shares |
Rs.10/- each |
Rs. 9717.246 Millions |
|
|
Total |
|
Rs. 14386.815
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
466956932 |
Equity Shares |
Rs.10/- each |
Rs. 4669.569 Millions |
|
971724552 |
Non-Cumulative, Non-Convertible, Redeemable Preference Shares |
Rs.10/- each |
Rs. 9717.246 Millions |
|
|
Total |
|
Rs. 14386.815
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (15th Months) |
31.12.2009 (12th
Months) |
31.12.2008 (9th Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
14386.815 |
14386.815 |
14386.815 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1860.307 |
(155.605) |
0.000 |
|
|
4] (Accumulated Losses) |
(10433.139) |
(4678.973) |
(1020.944) |
|
|
NETWORTH |
5813.983 |
9552.237 |
13365.871 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
33003.596 |
17444.266 |
0.000 |
|
|
TOTAL BORROWING |
33003.596 |
17444.266 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
38817.579 |
26996.503 |
13365.871 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
25551.924 |
14317.555 |
1001.804 |
|
|
Capital work-in-progress |
3983.070 |
11364.533 |
11285.647 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6041.994
|
1813.336
|
63.547 |
|
|
Sundry Debtors |
2938.967
|
812.332
|
0.000 |
|
|
Cash & Bank Balances |
3738.260
|
2351.267
|
1409.529 |
|
|
Other Current Assets |
4700.384
|
288.765
|
31.029 |
|
|
Loans & Advances |
5971.732
|
3542.183
|
1797.948 |
|
Total
Current Assets |
23391.337
|
8807.883 |
3302.053 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13252.529
|
6264.552
|
|
|
|
Other Current Liabilities |
680.381
|
1212.817
|
2201.840 |
|
|
Provisions |
175.842
|
16.099
|
21.793 |
|
Total
Current Liabilities |
14108.752
|
7493.468 |
2223.633 |
|
|
Net Current Assets |
9282.585
|
1314.415
|
1078.420 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
38817.579 |
26996.503 |
13365.871 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (15th Months) |
31.12.2009 (12th
Months) |
31.12.2008 (9th Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2443.110 |
0.000 |
|
|
|
Other Income |
|
1218.490 |
957.710 |
|
|
|
TOTAL |
NA |
3661.600 |
957.710 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
NA |
|
|
|
|
|
TOTAL |
|
5370.110 |
1610.890 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(1708.510) |
(653.180) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1941.020 |
41.970 |
|
|
|
|
NA |
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(3649.530) |
(695.150) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
8.500 |
318.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(3658.030) |
(1013.330) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(1020.940) |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(4678.970) |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export |
NA |
271.269 |
0.000 |
|
|
|
Technical Service Income |
NA |
254.021 |
47.843 |
|
|
TOTAL EARNINGS |
NA |
525.290 |
47.843 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
2638.370 |
98.422 |
|
|
|
Capital Goods |
NA |
7691.512 |
5302.291 |
|
|
TOTAL IMPORTS |
NA |
10329.882 |
5400.713 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
(7.83) |
(4.31) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (15th Months) |
31.12.2009 (12th
Months) |
31.12.2008 (9th Months) |
|
PAT / Total Income |
(%) |
NA
|
(99.90) |
(105.81) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(149.38) |
(0.00) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(15.78) |
(16.15) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(0.38) |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.10
|
2.61 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66
|
1.18 |
1.48 |
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. Constructions 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 |
Yes |
|
10. Designation of contact person |
No |
|
11. Turnover of firm for last two years |
Yes |
|
12. Profitability for last two 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 |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 (15th Months) |
31.12.2009 (12th
Months) |
31.12.2008 (9th Months) |
|
Sundry Creditors
|
|
|
|
|
Creditors due
small micro enterprises |
17.565 |
86.496 |
2201.840 |
|
Creditors due
others |
13234.964 |
6178.056 |
|
|
Total |
13252.529 |
6264.552 |
2201.840 |
NOTE
Registered Office of
the company has been shifted from 110-111/10,
MARKET / BUSINESS OVERVIEW
Subject epitomizes
the true essence of Indian spirit meets German excellence
The made-in-India
Polo was presented to the general public for the very first time at the Auto
Expo 2010 followed by the market launch throughout India in March, 2010. For
Subject, the Polo market launch has brought access to one of the Indian
passenger car segments with the highest-volume unit sales.
Subject celebrated
the roll-out of its 10,000th car from its plant in Chakan, Pune on June 3,
2010.
Subject rolled-out
the mid-size sedan, the Volkswagen Vento on August 3, 2010. On February 15,
2011, the 50,000th car was rolled out of the Chakan plant of which was
Volkswagen Vento.
WEBSITE DETAILS
NEWS
Court Directs Lodging of FIR Against Volkswagen's MD
A court here has directed Delhi police to lodge an FIR on a
complaint against a top executive of Germany-based Volkswagen, directors of its
authorised car dealer and a official of transport department on the issue of
illegal charges levied on buyers.
Metropolitan Magistrate Rajinder Singh passed the orders for lodging FIR on a
plea alleging that car dealers were levying charges like those for 'handling'
in violation of law.
The complainant said that Central Motor Vehicle Rules and an August 2007
notification of Transport Department Delhi prohibits motor vehicle dealers from
levying such charges.
"Looking at the scale and gravity of the allegation, it is deemed fit to
direct the SHO concerned to register an FIR and investigate this matter.
Accordingly, the SHO concerned is directed to register an FIR in accordance
with law under the relevant sections," the judge said.
The complaint filed by advocate Rajiv Ranjan Raj alleged levying of illegal
charges by car dealers and sought lodging of FIR for cheating, criminal
conspiracy, criminal breach of trust and for offences under Prevention of
Corruption Act.
He made car dealer Bhasin Motors, its four directors, MD of Volkswagen India
Private Limited and a Motor Licensing Officer of Delhi Transport Department as
party in the case.
Raj said Delhi Government's August 13, 2007 notification prohibited car dealers
from charging anything in the name of service/miscellaneous charges from the
purchasers.
He said Bhasin Motors charged him Rs 0.004 million as handling and number plate
charges apart from VAT March last year.
The dealer and officials of transport department are involved in a "mass
scale fraud being played upon innocent purchasers by such unscrupulous
dealers," Raj told the court.
Raj said "dealers are required to give an undertaking that they will not
charge any other charges/fee like handling charges/service charges."
He said the transport officials "never cross check" if dealers are
adhering to the rules or not and added that the concerned official "has grossly
failed to take any action to check this malpractice, obviously for illegal
gratification".
"The Motor Licensing Officers abet dealers to collect illegal charges,
inter-alia, from me by wilfully and deliberately not scrutinising the invoice
raised and issued by the dealer, thereby the corrupt Motor Licensing Officers
get their share of the booty.
"A white collar crime is being committed day in and day out and ill-gotten
gains are shared amongst senior officials of Transport Department and the
manufacturer," he alleged.
He added that "the car manufacturer is also aware of the fact that their
authorised dealers are charging handling Charges/ loading and unloading
charges/ logistic charges etc from their customers and their culpability in unfair
trade practice/cheating the general public is writ large also get its share
from the dealers hence no action is taken by them".
"The key officials of the manufacturer namely President, MD and Chief
Representative India, Volkswagen India Private Limited, apart from others in
connivance with officials of the Bhasin Motors and the Motor Licensing officer
has committed the offence punishable under the Indian penal Code," Raj
said.
The Delhi High Court had also on January 4 asked the car dealers' association
to file its reply on a PIL on same issue.
The PIL had alleged that car dealers are levying several illegal charges and
sought a CBI inquiry into the nexus between officials and car dealers.
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
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
44 |
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.