MIRA
INFORM REPORT
|
Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
INVENSYS INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
SIEBE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Tamarai Tech Park, SP Plot # 16-19 and 20 A, Thiru Vi Ka, Industrial
Estate, Guindy, Chennai-600032, Tamilnadu |
|
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|
Country : |
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|
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|
Financials (as
on) : |
31.03.2011 |
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|
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|
Date of
Incorporation : |
19.12-1996 |
|
|
|
|
Com. Reg. No.: |
18-082282 |
|
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Capital
Investment / Paid-up Capital : |
Rs. 46.669 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200TN1996PTC082282 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Industrial Appliances |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (39) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3800000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. The
latest financial of the company is missing from government department. However, from the previous year record the company appears to good.
Financially company seems strong. Performance capacity is high. Trade
relations are reported to be fair. Business is active. Payments are reported
to be unknown. The company can be considered for business dealings with slight
caution. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Tamarai Tech Park, SP Plot # 16-19 and 20 A, Thiru Vi Ka, Industrial
Estate, Guindy, Chennai-600032, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
D-25/12, TTC Industrial Area, MIDC, Navi Mumbai-400706, Maharashtra,
India |
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|
|
|
Sales Marketing Office : |
215-Atrium, Unit #715, 715A, 716 and 717, 7th Floor,
C-Wing, Andheri Kurla Road, Chakala, Andheri (East), Mumbai-400069,
Maharashtra, India |
|
Tel. No.: |
91-22-67579800 |
|
Fax No.: |
91-22-67579999 |
|
|
|
|
Branch Office : |
S No.197 (Part), Viman Nagar, Nagar Road, Pune-411014, Maharashtra,
India |
|
Tel. No.: |
91-20-26631353 |
|
Fax No.: |
91-20-26611360 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Ravi Shankar Gopinath |
|
Designation : |
Director |
|
Address : |
8, Fairlawn Apartments, 128, Maharashi Karve Road, Mumbai-400020,
Maharashtra, India |
|
Date of Birth/Age : |
25.12.1965 |
|
Date of Appointment : |
23.11.2009 |
|
Date of Cessation : |
02.07.2012 |
|
DIN No.: |
00803847 |
|
|
|
|
Name : |
Mr. Vijay Srinivasan |
|
Designation : |
Director |
|
Address : |
C 2403 /2404, Oberoi Woods C Tower Ciba Road, Goregaon (East),
Mumbai-400063, Maharashtra, India |
|
Date of Birth/Age : |
27.12.1958 |
|
Date of Appointment : |
22.12.2008 |
|
Date of Cessation : |
03.05.2012 |
|
DIN No.: |
02420119 |
|
|
|
|
Name : |
Mr. Kenneth Howard Williams |
|
Designation : |
Director |
|
Address : |
31, Amber Gardens, #19 01, The Esta Singapore-439967 |
|
Date of Birth/Age : |
29.04.1965 |
|
Date of Appointment : |
29.06.2009 |
|
DIN No.: |
02599813 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31200TN1996PTC082282 |
INVENSYS
INDIA PRIVATE LIMITED |
Director |
30/09/2009 |
29/06/2009 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Invensys Plc, United Kingdom |
4666853 |
|
Pankaj Prakash |
2 |
|
TOTAL
|
4666855 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.99 |
|
Others |
0.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Industrial Appliances |
PRODUCTION STATUS (AS ON : 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Capillary tubes |
MT |
144 |
28.64 |
|
Thermostats |
Nos. |
1840000 |
1094322 |
|
Famers |
Nos. |
3040000 |
655036 |
|
Water valve |
Nos. |
350000 |
6150 |
|
Booster pump assembly |
Nos. |
-- |
2356 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
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|
|
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountant |
|
Address : |
Tidel Park, 6th and 7th Floor, A Block (Module
601, 701-702), 4, Rajiv Gandhi Salai, Taramani, Chennai-600013, Tamilnadu,
India |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Holding Company : |
Invensys Plc |
|
|
|
|
Fellow Subsidiaries : |
·
BTR Industries Limited ·
Eberle Controls GmbH ·
Esscor Inc ·
Eurotherm Del India Limited ·
Eurotherm Limited ·
Foxboro Australia Pty Limited ·
Foxboro (Malaysia) Sdn Bhd ·
Foxboro Eckardt Gmbh ·
Foxboro Eckardt S.A.S ·
Foxboro France ·
Foxboro PT Perkind, Indonesia ·
Foxboro Scada S.P.A ·
Invensys (Qingdao) Controls Company Ltd (China) ·
Invensys Appliance Controls Ltda (Brazil) ·
Invensys Appliance Controls S.A., France ·
Invensys Appliance Controls S.A.M. Monaco ·
Invensys Appliance Controls sro (Czech Republic) ·
Invensys Appliances Laredo, Texas ·
Invensys Appliances, Carol Stream ·
Invensys Appliances, Eliwell Italy ·
Invensys Building Systems ·
Invensys Columbia ·
Invensys Controls Australia Pty Limited ·
Invensys Controls Italy Srl ·
Invensys Controls, USA ·
Invensys Deutschland GmbH ·
Invensys Development Centre India Private Limited ·
Invensys Korea Limited ·
Invensys Metering System, GMBH ·
Invensys Middle East FZE (United Arab Emirates) ·
Invensys Process Systems (S) Pte Limited ·
Invensys Process Systems Japan Inc ·
Invensys Process Systems Taiwan Corporation ·
Invensys Rail Systems India Private Limited ·
Invensys Systems (UK) Limited ·
Invensys Systems Gmbh, Germany ·
Invensys Systems France SAS ·
Invensys Systems Inc ·
Invensys Systems Italia SpA ·
Invensys Systems(Thailand) Company Limited ·
Invensys Systems, Canada Inc ·
Invensys Sytems NV, Netherlands ·
Invensys Weihai Controls Company Limited (China) ·
Powerware International Private Limited ·
Ranco Italian Controls, Italy ·
Ranco Management Corporation ·
Satchwell Control Systems Limited ·
Shanghai Foxboro Company Limited (China) ·
Siebe Environmental Controls ·
Simulated Sciences Inc ·
Triconex - Singapore ·
Triconex Corporation ·
Triconex Middleeast ·
Triconex Solutions S.A, France ·
Invensys Energy Management ·
Invensys Engineering and Service SAE (Egypt) ·
Invensys International Holdings Limited ·
Invensys Saudi Arabia Limited ·
Triconex Systems Inc. ·
Triconex - U.K ·
Westing House Rail Systems Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs. 600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4666855 |
Equity Shares |
Rs.10/- each |
Rs. 46.669
Millions |
|
|
|
|
|
NOTES
Of the above
4,666,853 shares (previous year - 4,666,853) are held by Invensys Plc, UK, the
Holding Company.
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 |
46.669 |
46.669 |
46.669 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
904.366 |
833.760 |
762.391 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
951.035 |
880.429 |
809.060 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.962 |
|
|
|
|
|
|
|
|
TOTAL |
951.035 |
880.429 |
810.022 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
136.937 |
143.949 |
147.729 |
|
|
Capital work-in-progress |
3.684 |
0.000 |
0.472 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
26.856 |
20.019 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
103.439
|
95.880 |
131.324 |
|
|
Sundry Debtors |
758.468
|
757.637 |
932.904 |
|
|
Cash & Bank Balances |
457.005
|
377.329 |
216.715 |
|
|
Other Current Assets |
313.311
|
121.186 |
142.017 |
|
|
Loans & Advances |
385.884
|
304.651 |
176.524 |
|
Total
Current Assets |
2018.107
|
1656.683 |
1599.484 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
952.261
|
688.332 |
650.637 |
|
|
Other Current Liabilities |
188.653
|
168.753 |
192.592 |
|
|
Provisions |
93.635
|
83.137 |
94.434 |
|
Total
Current Liabilities |
1234.549
|
940.222 |
937.663 |
|
|
Net Current Assets |
783.558
|
716.461 |
661.821 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
951.035 |
880.429 |
810.022 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Project Sales |
1595.381 |
|
1712.680 |
|
|
|
Manufacturing Sales |
83.201 |
91.498 |
|
|
|
|
Service Income |
377.549 |
318.858 |
|
|
|
|
Other Income |
24.164 |
31.951 |
|
|
|
|
TOTAL (A) |
2080.295 |
1986.449 |
1712.680 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing
and other expenses |
1554.900 |
1524.019 |
|
|
|
|
Personnel
expenses |
366.177 |
309.172 |
|
|
|
|
(Increase) /
Decrease in inventories |
7.769 |
(0.005) |
|
|
|
|
TOTAL (B) |
1928.846 |
1833.186 |
1391.420 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
151.449 |
153.263 |
[Including Financial |
|
|
|
|
|
|
Expenses |
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.281 |
15.320 |
And |
|
|
|
|
|
|
Depreciation] |
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
128.168 |
137.943 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.496 |
27.053 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
108.672 |
110.890 |
321.260 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
38.066 |
39.521 |
118.640 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
70.606 |
71.369 |
202.620 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
819.637 |
748.268 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
890.243 |
819.637 |
NA
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
59.719 |
109.858 |
|
|
|
Service Income |
NA |
290.935 |
210.150 |
|
|
TOTAL EARNINGS |
NA |
350.654 |
320.008 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
701.266 |
426.568 |
|
|
|
Capital Goods |
NA |
2.463 |
3.554 |
|
|
TOTAL IMPORTS |
NA |
703.729 |
430.122 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.13 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.39
|
3.59 |
11.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.47
|
6.78 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.98
|
6.09 |
18.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.13 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.30
|
1.07 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63
|
1.76 |
1.71 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE
Registered office has been shifted from 18, Kotla Lane, Rouse Avenue,
New Delhi-110002, India to the present address w.e.f. 31.08.2011 to the present
address.
BACKGROUND
Subject was incorporated on December 16, 1996 as Siebe India Private
Limited, and is a subsidiary of Invensys Plc, UK. In September 1999, the
Company changes its name to “Invensys India Private Limited”.
The Company’s activities are organized into the following principal
division:
·
The Invensys Process Systems (IPS) Division that
constitutes the software systems business of
Foxboro division, which is located in Chennai
IPS is principally
engaged in the business of execution of contracts for the manufacture and
supply of Distribution Control Systems ('DCS') and related equipment including
process control and temperature control systems. IPS is also engaged in the
assembly and sale of panels for DCS and parts of DCS, as well as rendering
engineering and related services to Invensys group companies worldwide.
·
The Invensys Control (IC) located in Pune.
IPL acquired IC
from Voltas Limited in 1998. IC is engaged in the manufacture and sale of
industrial appliances and components, primarily in the nature of refrigeration
and related products, such as timers, thermostats and capillaries etc.
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Equipments
·
Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 55.69 |
|
|
1 |
Rs. 89.19 |
|
Euro |
1 |
Rs. 72.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
39 |
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.