|
Report Date : |
15.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
RENAULT NISSAN TECHNOLOGY AND BUSINESS CENTRE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ascendas Mahindra IT Park, Mahindra World City, Natham Sub-Post,
Chengalpat, Chennai-603002, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.09.2007 |
|
|
|
|
Com. Reg. No.: |
18-064840 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 832.466 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50401TN2007PTC064840 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHER09166D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR7253E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The subject has
been set up in a Special Economic Zone and provides service activities like
engineering, business process outsourcing, sourcing support and Information
Technology Enabled Services. |
|
|
|
|
No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 7400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 50:50 joint venture between Renault Group B.V. and Nissan
International Holding B.V It is an established company having fine track. Financial position of the
company appears to be sound. Trade relations are reported as fair. Business
is active. Payments are reported to be regular and as per commitments. The company can be considered god for normal 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Gopinath Manan |
|
Designation : |
HR Head |
|
Contact No.: |
91-9962562827 |
|
Date : |
13.10.2012 |
LOCATIONS
|
Registered Office : |
Ascendas Mahindra IT Park, Mahindra World City, Natham Sub-Post,
Chengalpat, Chennai-603002, Tamilnadu |
|
Tel. No.: |
91-44-28120000 |
|
Mobile No.: |
91-9962562827 (Mr. Gopinath Manan) |
|
Fax No.: |
91-44-28120001 |
|
E-Mail : |
DIRECTORS
AS ON 20.09.2011
|
Name : |
Mr. Jacques Francois Foulquier |
|
Designation : |
Managing Director |
|
Address : |
165, BMR Claswin Hatchery Road, Anand Farm, Muttukadu, Chennai-600041,
Tamilnadu, India |
|
Date of Birth/Age : |
15.07.1957 |
|
Date of Appointment : |
03.10.2007 |
|
DIN No.: |
02015470 |
|
|
|
|
Name : |
Mr. Hiroshi Nagaoka |
|
Designation : |
Director |
|
Address : |
Plot No.4, (Old No.8), VGP Sea Cliff Enclave, ECR Road, Akkarai,
Chennai-600119, Tamilnadu, India |
|
Date of Birth/Age : |
16.03.1962 |
|
Date of Appointment : |
22.07.2010 |
|
DIN No.: |
03157902 |
|
|
|
|
Name : |
Mr. Mitsuhko Yamashita |
|
Designation : |
Director |
|
Address : |
4-6-5, Takamori Isehara-Shi, Kanagawa Ken, Japan-2591114 |
|
Date of Birth/Age : |
17.04.1953 |
|
Date of Appointment : |
12.12.2008 |
|
DIN No.: |
02385596 |
|
|
|
|
Name : |
Mr. Odile Marie Anne Desforges |
|
Designation : |
Director |
|
Address : |
3 R, Henri Heine, Paris, France |
|
Date of Birth/Age : |
24.01.1950 |
|
Date of Appointment : |
31.03.2009 |
|
DIN No.: |
02610028 |
|
|
|
|
Name : |
Mr. Christain Jacques Berthe Vandenhende |
|
Designation : |
Director |
|
Address : |
LA Palombier E, 7 Routedes Fourneau X, Les Breviaires, France-78610 |
|
Date of Birth/Age : |
30.08.1961 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03469829 |
|
|
|
|
Name : |
Mr. Ceslso Guiotoko |
|
Designation : |
Director |
|
Address : |
Akasaka Hikawa CHO Park, Mainson 202, 19-27, Akasaka 6 Chome,
Minato-Ku, Tokyo-1070052, Japan |
|
Date of Birth/Age : |
03.01.1959 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03473054 |
KEY EXECUTIVES
|
Name : |
Mr. Jaideep Kapur |
|
Designation : |
Secretary |
|
Address : |
Flat No. 6/1, 1C, Richie Road, Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
20.11.1960 |
|
Date of Appointment : |
30.07.2010 |
|
PAN No.: |
AAZPK8820F |
|
|
|
|
Name : |
Mr. Gopinath Manan |
|
Designation : |
HR Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.09.2011
|
Names of Equity Shareholders Class (A) |
No. of Shares |
|
Nissan International Holdings B.V., Netherlands |
27748850 |
|
Renault Group B.V., Netherlands
|
27748850 |
|
TOTAL |
55497700 |
|
|
|
|
Names of Equity Shareholders Class (B) |
No. of Shares |
|
Renault Group B.V., Netherlands
|
27748850 |
|
TOTAL
|
27748850 |
AS ON 20.09.2011
|
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 |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject has
been set up in a Special Economic Zone and provides service activities like engineering,
business process outsourcing, sourcing support and Information Technology
Enabled Services. |
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batlibol and Associates Chartered Accountant |
|
Address : |
TPL House, 2nd Floor, Cenotaph Road, Tynampet,
Chennai-600018, Tamilnadu, India |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Joint Ventures Parties : |
·
Renault Group B.V. ·
Nissan International Holding B.V. |
|
|
|
|
Related Parties : |
·
Renault SAS, France ·
Renault Global Management ·
Nissan Motor Company Limited ·
Nissan Manufacturing Company UK Limited ·
Nissan Motor Company Limited, Egypt ·
Renault Samsung Motors ·
Mahindra Renault India Private Limited ·
Renault India Private Limited CIN No.:-
U34100TN2005FTC078835 ·
Nissan Motor India Private Limited CIN No.:-
U34100TN2005PTC073897 ·
Renault Nissan Automotive India Private Limited CIN No.:-
U34100TN2007PTC073002 ·
Ashok Leyland Nissan Vehicles Limited CIN No.:-
U34102TN2008PLC067839 ·
Mahindra Automobile Distributor Private Limited CIN No.:-
U34100MH2005PTC153702 ·
Nissan Ashok Leyland Technologies Limited CIN No.:-
U34300TN2008PLC067840 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55497700 |
Equity Shares (Class A) |
Rs.10/- each |
Rs. 554.977 Millions |
|
27748850 |
Equity Shares (Class B) |
Rs.10/- each |
Rs. 277.489 Millions |
|
|
TOTAL |
|
Rs. 832.466
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55497700 |
Equity Shares (Class A) |
Rs.10/- each |
Rs. 554.977 Millions |
|
27748850 |
Equity Shares (Class B) |
Rs.10/- each |
Rs. 277.489 Millions |
|
|
TOTAL |
|
Rs. 832.466
Millions |
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 |
832.466 |
832.466 |
832.466 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1031.799 |
608.962 |
306.125 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1864.265 |
1441.428 |
1138.591 |
|
|
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 |
2.223 |
|
|
|
|
|
|
|
|
TOTAL |
1864.265 |
1441.428 |
1140.814 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
346.012 |
539.002 |
313.839 |
|
|
Capital work-in-progress |
17.896 |
7.482 |
135.013 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
26.534 |
6.288 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
1170.671
|
763.143 |
624.874 |
|
|
Cash & Bank Balances |
446.004
|
269.211 |
216.584 |
|
|
Other Current Assets |
0.000
|
9.574 |
0.000 |
|
|
Loans & Advances |
376.037
|
253.704 |
370.496 |
|
Total
Current Assets |
1992.712
|
1295.632 |
1211.954 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
367.109 |
305.890 |
425.986 |
|
|
Other Current Liabilities |
99.525
|
67.995 |
75.187 |
|
|
Provisions |
52.255
|
33.091 |
18.819 |
|
Total
Current Liabilities |
518.889
|
406.976 |
519.992 |
|
|
Net Current Assets |
1473.823
|
888.656 |
691.962 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1864.265 |
1441.428 |
1140.814 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3521.010 |
2986.050 |
2369.870 |
|
|
|
Other Income |
19.610 |
15.000 |
10.380 |
|
|
|
TOTAL |
3540.620 |
3001.050 |
2380.250 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Compensation Benefits |
1541.770 |
1461.370 |
1064.590 |
|
|
|
Administrative and Other Expenses |
1329.200 |
974.500 |
863.110 |
|
|
|
TOTAL |
2870.970 |
2435.870 |
1927.700 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
669.650 |
565.180 |
452.550 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
191.120 |
220.320 |
114.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
478.530 |
344.860 |
337.670 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
55.690 |
42.020 |
48.510 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
422.840 |
302.840 |
289.160 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
608.960 |
306.120 |
16.960 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1031.800 |
608.960 |
306.120 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Income |
3193.968 |
2620.951 |
2035.130 |
|
|
TOTAL EARNINGS |
3193.968 |
2620.951 |
2035.130 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
51.276 |
78.524 |
224.281 |
|
|
TOTAL IMPORTS |
51.276 |
78.254 |
224.281 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.08 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.94
|
10.09 |
12.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.59
|
11.55 |
14.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.23
|
18.73 |
22.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.24 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.28
|
0.28 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.84
|
3.18 |
2.33 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
367.109 |
305.890 |
425.986 |
|
TOTAL |
367.109 |
305.890 |
425.986 |
BACKGROUND
Subject was
incorporated on September 21, 2007 in Kancheepuram District., Tamilnadu. The
Company is a joint venture between the automobile manufacturers Renault Group B.V,
France and Nissan International Holding B.V, Japan. The Company has been set up
in a Special Economic Zone and provides service activities like engineering,
business process outsourcing, sourcing support and Information Technology
Enabled Services.
REVIEW OF
OPERATIONS AND OUTLOOK
During the year,
the Company made a turnover of Rs.
3521.01 Millions and a net profit of Rs. 422.84 Millions after taxes, compared to the previous
year turnover of Rs. 2986.05 Millions
and net profit of Rs. 302.84 Millions
after taxes.
The Directors are
hopeful that the Company will perform better and expedite the business better
in the current year.
FIXED ASSETS
·
Leasehold Improvements
·
Computer and Accessories
·
Office Equipments
·
Furniture and Fixtures
·
Electrical Fittings
·
Vehicles
·
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 52.70 |
|
|
1 |
Rs. 84.50 |
|
Euro |
1 |
Rs. 68.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
64 |
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.