MIRA
INFORM REPORT
|
Report Date : |
29.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
AUNDE INDIA LIMITED |
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Formerly Known
As : |
AUNDE FAZE THREE LIMITED |
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Registered
Office : |
Plot No. 146, |
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Country : |
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Financials (as
on) : |
30.06.2011 |
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Date of
Incorporation : |
03.10.1997 |
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Com. Reg. No.: |
54-000196 |
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Capital Investment
/ Paid-up Capital : |
Rs.107.232 millions |
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CIN No.: [Company Identification
No.] |
L17120DN1997PLC000196 |
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|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Auto fabrics |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1242088 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office/Factory : |
Plot No. 146, |
|
Tel. No.: |
91-260-2668539 |
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Fax No.: |
91-260-2668501 |
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E-Mail : |
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Corporate Office : |
102, Shiv Smriti Chambers, 49-A, Dr |
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Tel. No.: |
91-22-6618 8777 |
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Fax No.: |
91-22-2493 6811 |
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E-Mail : |
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Branches : |
10C, Big Jo's Towers, Chennai
Office |
DIRECTORS
AS ON 30.06.2011
|
Name : |
Mr. Ajay Anand |
|
Designation : |
Managing Director |
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|
|
|
Name : |
Mr Rolf Konigs |
|
Designation : |
Director |
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|
|
Name : |
Mr.R. J. Avadhani |
|
Designation : |
Director |
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|
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|
Name : |
Mr.Kapil Sethi |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Reema J Mathias |
|
Designation : |
AGM Legal and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2012
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of total No. of Shares |
|
|
|
As a % of
(A+B+C) |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2,467,200 |
23.01 |
|
|
2,124,000 |
19.81 |
|
|
4,591,200 |
42.82 |
|
|
|
|
|
|
4,591,200 |
42.82 |
|
|
4,591,200 |
42.82 |
|
Total shareholding
of Promoter and Promoter Group (A) |
9,182,400 |
85.63 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
150 |
- |
|
|
150 |
- |
|
|
300 |
- |
|
|
|
|
|
|
509,737 |
4.75 |
|
|
|
|
|
|
741,317 |
6.91 |
|
|
288,449 |
2.69 |
|
|
1,004 |
0.01 |
|
|
400 |
-- |
|
|
604 |
0.01 |
|
|
1,540,507 |
14.37 |
|
Total Public
shareholding (B) |
1,540,807 |
14.37 |
|
Total (A)+(B) |
10,723,207 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
- |
- |
|
Total
(A)+(B)+(C) |
10,723,207 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 millions BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Auto fabrics |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
Canara Bank ·
Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
Majibail and Company Chartered Accountant Mumbai |
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Associates/Subsidiaries : |
Faze Three Limited |
CAPITAL STRUCTURE
AS ON 30.06.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110,00,000 |
Equity Shares |
Rs. 10 each |
Rs.110.000 millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,07,23,207 |
Equity Shares |
Rs. 10 each |
Rs.107.232 millions |
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|
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Note - of the above 61,32,000 Equity Shares of Rs.10 each issued at par to the
shareholders of Faze Three Ltd. For consideration other than cash pursuant to
the scheme of Arrangement.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2011 |
30.06.2010 |
30.06.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
107.232 |
107.232 |
107.230 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
203.290 |
171.073 |
156.370 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
310.522 |
278.305 |
263.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
435.312 |
422.057 |
444.710 |
|
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2] Unsecured Loans |
127.518 |
127.518 |
127.520 |
|
|
TOTAL BORROWING |
562.830 |
549.575 |
572.230 |
|
|
DEFERRED TAX LI |
49.760 |
49.760 |
46.580 |
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|
|
|
|
|
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TOTAL |
923.112 |
877.640 |
882.410 |
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APPLICATION OF FUNDS |
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|
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|
|
|
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FIXED ASSETS [Net Block] |
538.766 |
510.188 |
388.600 |
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Capital work-in-progress |
5.762 |
11.173 |
149.970 |
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
255.000
|
270.326
|
243.620
|
|
|
Sundry Debtors |
184.249
|
150.469
|
151.47
|
|
|
Cash & Bank Balances |
7.295
|
3.209
|
4.58
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
29.575
|
34.379
|
33.78 |
|
Total
Current Assets |
476.119
|
458.383 |
433.450
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
61.875 |
47.881
|
0.000
|
|
|
Other Current Liabilities |
35.660
|
54.223
|
89.610 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
97.535
|
102.104
|
89.610 |
|
|
Net Current Assets |
378.584
|
356.279
|
343.840 |
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
923.112 |
877.640 |
882.410 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
30.06.2011 |
30.06.2010 |
30.06.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
771.028 |
561.969 |
351.970 |
|
|
|
Other Income |
1.348 |
0.734 |
6.840 |
|
|
|
TOTAL (A) |
772.376 |
562.703 |
358.810 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
344.351 |
267.695 |
235.480 |
|
|
|
Manufacturing Expenses |
0.000 |
0.000 |
69.160 |
|
|
|
Employees Cost |
33.906 |
27.556 |
23.290 |
|
|
|
Increase/(Decrease) in Finished Goods |
21.101 |
(15.687) |
(74.030) |
|
|
|
Operating Expenses |
120.514 |
104.392 |
0.000 |
|
|
|
Power and Fuel Cost |
|
|
10.160 |
|
|
|
Administrative & Selling Expenses |
124.516 |
91.309 |
22.720 |
|
|
|
Other Expenses |
0.000 |
0.000 |
9.490 |
|
|
|
TOTAL (B) |
644.388 |
475.265 |
296.270 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
127.988 |
87.438 |
62.540 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
53.813 |
34.035 |
35.460 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
74.175 |
53.403 |
27.080 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.848 |
31.558 |
26.530 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
40.327 |
21.845 |
0.550 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.110 |
7.143 |
4.790 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
32.217 |
14.702 |
(4.240) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.880 |
14.677 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Transfer to
General Reserve |
15.000 |
12.500 |
NA |
|
|
|
BALANCE CARRIED
TO THE B/S |
34.097 |
16.879 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Export Earnings |
0.400 |
0.457 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
77.397 |
47.979 |
NA |
|
|
|
Stores & Spares |
3.295 |
2.701 |
NA |
|
|
|
Capital Goods |
25.409 |
0.000 |
NA |
|
|
|
TOTAL IMPORTS |
106.101 |
50.680 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.00 |
1.37 |
-- |
|
QUARTERLY RESULTS
(UNAUDITED)
|
PARTICULARS |
30.09.2011 |
31.12.2011 |
31.03.2012 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Sales Turnover |
179.030 |
185.430 |
236.990 |
|
Total Expenditure |
142.550 |
147.390 |
195.710 |
|
PBIDT (Excl
OI) |
36.480 |
38.040 |
41.280 |
|
Other Income |
0.150 |
(1.370) |
1.010 |
|
Operating
Profit |
36.630 |
36.670 |
42.290 |
|
Interest |
16.280 |
12.300 |
19.930 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
20.350 |
24.370 |
22.360 |
|
Depreciation |
9.080 |
9.080 |
9.080 |
|
Profit
Before Tax |
11.270 |
15.290 |
13.280 |
|
Tax |
2.250 |
3.050 |
2.870 |
|
Provisions and Contingencies |
0.000 |
0.000 |
0.000 |
|
Reported PAT |
9.030 |
12.240 |
10.410 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
9.030 |
12.240 |
10.410 |
KEY RATIOS
|
PARTICULARS |
|
30.6.2011 |
30.06.2010 |
30.06.2009 |
|
PAT / Total Income |
(%) |
4.17
|
2.61 |
(1.18) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.23
|
3.88 |
0.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.97
|
2.25 |
0.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.07 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.12
|
2.34 |
2.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.88
|
4.48 |
4.83 |
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 |
No |
|
5)
Type of Business |
Yes |
|
6)
Line of Business |
Yes |
|
7)
Promoter's background |
--- |
|
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) |
-- |
|
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
|
BUSINESS OVERVIEW
During the year, the
Company achieved a total turnover of Rs. 771.028 Millions as compared to Rs.
561.969 Millions in 2009-10.The Company has earned a profit before tax of Rs.
40.328 Millions as compared to Rs. 21.845 Millions in the previous accounting
year 2009-10 and a net profit of Rs. 32.217 Millions as compared to a profit of
Rs. 14.703 Millions during the previous year 2009-10.
The automobile
industry reported 26.17% growth in vehicle sales during 2010-2011. Factors like
GDP growth, higher spending on infrastructure development, strong consumer
confidence, government's focus on rural areas, moderate price hike by the auto
makers despite steep rise in commodity rates and introduction of new models
helped the industry to register robust growth during financial year 2010-2011.
The healthy growth
of Automotive industry has driven the automotive textile industry to perform
effectively and achieve remarkable growth. AUNDE India has also achieved a
significant growth of 37% in sale turnover in the year 2010-11 as compared to
previous year. The profitability of the Company has immensely grown showing
119% of increase in net profits.
FUTURE OUTLOOK
The Indian
automotive industry has achieved the position of the top growing passenger car
market in the world during the January-June period in 2011. According to The
Society of Indian Automobile Manufacturers (SIAM), in passenger vehicles, India
was the fastest growing market at 18.20 per cent during the six month and
India's automobile industry is expected to grow by 11 to 13 per cent in the
fiscal year ending March 2012. The four-wheel passenger vehicle market has
grown impressively at the hands of the new middle class, and there is huge
opportunity, as market penetration remains low.
AUNDE India is
participating in the design development process of textiles and covers for
sportswear, airplane, buses, coaches etc with AUNDE Global Group. Further, the
Company is trying to tie up with AUNDE Global Group members for market
knowledge and fabric development programmes, which will facilitate the Company
to expand its market share in auto textile segment in India as well as
globally.
Further, the
Company has successfully bagged export orders for supply of fabric to General
Motors under Global Programme. The shipments will commence from 2012.
The Company is
looking forward to grab opportunities by offering products with varied designs
and consumer preferences. With its technologically advanced equipments AUNDE is
confident to reap the benefits in coming years.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
ECONOMY & BUSINESS OVERVIEW
The Indian
passenger vehicle market reached a size of approximately 2.5 million unit sales
in the year. This places India amongst top seven markets in the world. Global
manufactures are continuously enhancing their efforts in India to expand their
market by offering fuel efficient vehicles, vehicles with improved features and
introducing new models suitable for mass segments. New entrant like Volkswagen,
GM are looking at mass market segments to grab market share by launching
competitively priced models in compact segments. The global market for
technical textiles is growing like never before. The growth in the Indian
technical textile industry has been positive across all segments. The
international markets are looking at India as one of the vital destination to
do business with. Although US and EU continue to be major manufacturers and
consumers of technical textiles, the Asian countries like China and India have
recently emerged as chief production centers of technical textiles. Technical
textiles offer a huge opportunity in India for both local consumption as well
as for exports.
AUNDE India is
having approximately 32% of the market share in the total automotive textile manufacturing
in India. With sales to major automotive manufactures like Maruti, Mahindra,
Tata, Hyundai etc, the Company was able to achieve 37% growth in turnover.
During the year, the Company has successfully bagged orders from Nissan for its
brands viz Micra and Sunny & Volkswagen's Vento. AUNDE India is also in
talks with Honda who currently holds a market share of 1.29% in passenger
vehicle segment.
Further, the Company has already installed manufacturing facilities of
circular knit and warp fabrics which are high in demand in domestic market as
well as internationally and expecting good orders in the current year.
High commodity
prices and adverse currency movements continue to be the main challenges.
Besides existing efforts to boost productivity, reduce waste and enhance value,
the Company is working on new initiatives like higher localization and hedging
to reduce the impact of commodity prices.
The Company's
sound market base and sales growth continues to be its strength and will help
to tap opportunities as economic prosperity widens in the country and achieve
higher sales and profits in the current year.
Internal Control Systems and its adequacy
The Company
maintains a system of internal controls designed to provide a high degree of
assurance regarding the effectiveness and efficiency of operations, the
adequacy of safeguards of assets, the reliability of financial controls, and
compliance with applicable laws and regulations. The organization is well
structured and the policy guidelines are well documented with pre-defined
authority. The Company has also implemented suitable controls to ensure that
all resources are utilized optimally. Financial transactions are reported with
accuracy and there is strict compliance with all applicable laws and
regulations.
The Company has
put in place sufficient system to ensure that assets are safeguarded against
loss from unauthorized use of disposition and that transactions are authorised
and reported. The Company also has an exhaustive budgetary control system to
monitor all expenditure against approved budgets on an ongoing basis.
Human Resources / Industrial Relations
Human Resources
represent the collective expertise, innovation, leadership and management
skills of organization. The Company is of the strong belief that the employees
are the most vital resources giving the Company an edge over its competitors in
the dynamic business environment. On the industrial front, the company has had
cordial and harmonious relationship with its employees and unions.
Fixed Assets
·
Land
·
Building
·
Plant & Machinery
·
Furniture & Fixtures
·
Office Equipments
·
Electrical Installation
·
Vehicles
Company Profile
Subject is joint venture collaboration between Faze Three and Aunde Achter &
Ebels Gmbh (Germany). Aunde a global giant known for its line of automotive
fabrics and seating systems has a dynamic worldwide presence having 55 plants
in 19 countries. Faze Three Limited is engaged in the entire range of Home
Textile Products including but not limited to carpets, throws, window curtains,
shower curtains, doormats, bath room furnishings etc.
Incorporation
& Listing: The Company was
incorporated in the year 1997. Upon Hiving Off of the Autofabric division in the
year 2000, shareholders of Faze Three Limited were allotted 3 fully paid equity
shares of Rs 10/- each of AUNDE Faze Three Limited for every 2 Equity Shares of
Rs 10/- each held in Faze Three Limited
Operations: The Company operates in Technofabrics with
specilisation in auto-fabrics.
Clients: Caters to automotive giants
like General Motors, Hyundai, and Maruti etc.
Strength & Awards: Its in-house
manufacturing capabilities backed by continuous improvement and technology
up-gradation has given AUNDE INDIA the competitive edge.
Corporate Set-up: The Company has
its presence all over the country
- The Company has its state of the art
manufacturing unit at Dadra, Union Territory of Dadra & Nagar Haveli.
- The Corporate Office of the Company is
situated in Mumbai.
- The Marketing Offices are Delhi and
Chennai.
Future Outlook:
- The Company focuses both on Organic and
In-organic growth in the Coming years
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.55.26 |
|
|
1 |
Rs.86.80 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
NLM |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.