MIRA INFORM REPORT
|
Report Date : |
03.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
L AND T – MHI TURBINE GENERATORS PRIVATE LIMITED (w.e.f. 22.11.2007) |
|
|
|
|
Formerly Known
As : |
L AND T TURBO GENERATOR PRIVATE LIMITED |
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|
Registered
Office : |
L and T House, Ballard Estate, Mumbai-400001, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
27.12.2006 |
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|
Com. Reg. No.: |
11-166541 |
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Capital
Investment/ Paid-up Capital: |
Rs.2501.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31101MH2006PTC166541 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML06873G |
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PAN No.: [Permanent Account No.] |
AABCL2729F |
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|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of Super Critical Steam Turbine and Generators For Power
Plant. |
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|
No. of
Employees: |
1200 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6180000 |
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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 joint venture between Larsen and Toubro Limited, India and
Mitsubishi Heavy Industries Limited, Japan. It is an established company having satisfactory track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct. In view of strong holding, 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A+ [Cash Credit] |
|
Rating Explanation |
This rating are considered to have adequate degree of safety regarding
timely services of financial obligation. Such instruments carry low credit
risk. |
|
Date |
01.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A+ [Letter of Credit and Bank Guarantee] |
|
Rating Explanation |
This rating are considered to have adequate degree of safety regarding
timely services of financial obligation. Such instruments carry low credit
risk. |
|
Date |
01.09.2012 |
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Venkatesan |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-67525656 |
|
Date : |
01.09.2012 |
LOCATIONS
|
Registered Office : |
L and T House, Ballard Estate, Mumbai-400001, Maharashtra, India |
|
Tel. No.: |
91-22-67525656 |
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Fax No.: |
91-22-67525893 |
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E-Mail : |
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|
Website : |
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|
Corporate Office/ Factory : |
Hazira Manufacturing Complex, Gate No. 8, West Side, Surat Hazira
Road, Post Bhatha, Surat-394510, Gujarat, India |
|
|
|
|
Marketing Office : |
Pankaj Building, Opposite GEB Substation, N.H. 8 Chhani, Vadodara-391740,
Gujarat, India |
|
Tel No.: |
91-265-2451600 |
DIRECTORS
AS ON 23.06.2011
|
Name : |
Mr. Ravi Uppal |
|
Designation : |
Chairman |
|
Address : |
No. 484, 9th Main, 3rd Cross, Hal II, Stage, Indiranagar,
Bangalore-560008, Karnataka, India |
|
Date of Birth/Age : |
09.05.1952 |
|
Date of Appointment : |
17.02.2009 |
|
Din No.: |
00025970 |
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|
|
|
Name : |
Yozaburo Mabuchi |
|
Designation : |
Director |
|
Address : |
2 33 13, Shiroyamadai, Nagasaki Shi, Nagasaki Ken, Nagasaki, Japan |
|
Date of Birth/Age : |
04.10.1951 |
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Date of Appointment : |
23.12.2008 |
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Din No.: |
01585780 |
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|
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|
Name : |
Mr. Vijay Chander Bedi |
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Designation : |
Director |
|
Address : |
402, Rivera Tower, Dumas Road, Surat-395007, Gujarat, India |
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Date of Birth/Age : |
27.08.1946 |
|
Date of Appointment : |
17.01.2008 |
|
Din No.: |
02005709 |
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|
|
|
Name : |
Yoshiyuki Hanasawa |
|
Designation : |
Director |
|
Address : |
6-53-103, Chitose-Machi, Nagasaki, Japan 8528135 |
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Date of Birth/Age : |
23.01.1958 |
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Date of Appointment : |
15.07.2010 |
|
Din No.: |
03212809 |
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|
|
|
Name : |
Masayuki Kubo |
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Designation : |
Director |
|
Address : |
3-4-4-501, Kamioooka-Nishi, Konan-Ku, Yokohama-Shi, Kanagawa-Ken,
Japan |
|
Date of Birth/Age : |
15.08.1952 |
|
Date of Appointment : |
01.04.2011 |
|
Din No.: |
01585730 |
KEY EXECUTIVES
|
Name : |
Mr. Subrat Kumar Das |
|
Designation : |
Manager |
|
Address : |
52, Ashirwad Bunglows, Dumas Road, Surat-395007, Gujarat, India |
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Date of Birth/Age : |
17.03.1952 |
|
Date of Appointment : |
10.04.2008 |
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Pan No.: |
AADPD7692N |
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|
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|
Name : |
Mr. Anil Kumar Mehta |
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Designation : |
Company Secretary |
|
Address : |
9, Navratan Baug, Indore-452001, Madhya Pradesh, India |
|
Date of Birth/Age : |
07.09.1964 |
|
Date of Appointment : |
01.03.2011 |
|
Pan No.: |
ABAPM8233E |
|
|
|
|
Name : |
Mr. Venkatesan |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mitsubishi Heavy Industries Limited, Tokyo |
|
97539000 |
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Mitsubishi Electric Corporation, Tokyo |
|
25010000 |
|
Larsen and Toubro Limited, India |
|
127551000 |
|
|
|
|
|
TOTAL
|
|
250100000 |
AS ON 23.06.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
49.00 |
|
Bodies
corporate |
|
51.00 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Super Critical Steam Turbine and Generators For Power
Plant. |
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|
Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
1200 [Approximately] |
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Bankers : |
ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri,
Baroda-390015, Gujarat, India |
|||||||||
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Facilities : |
NOTE: (A) Japan Bank
for International Co-operation 2631.105 Millions Add: The Bank Of Tokyo-Mitsubishi
UFJ Limited 2637.302 Millions Total 5268.408 Millions (B) Japan Bank for International Co-operation |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Ravindra Annexe, 194, Churchgate Reclamation, Dinshaw Vachha Road,
Mumbai-400020, Maharashtra, India |
|
Pan No.: |
AAAFS2967E |
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|
|
|
Holding Company : |
Larsen and Toubro Limited
[L99999MH1946PLC004768] |
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Fellow Subsidiary : |
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Joint Venture Partner : |
Mitsubishi Heavy Industries Limited Mitsubishi Electric Corporation |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
265000000 |
Equity Shares |
Rs. 10/- each |
Rs.2650.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250100000 |
Equity Shares |
Rs. 10/-
each |
Rs.2501.000
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 |
2501.000 |
1501.000 |
1001.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
22.847 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(978.837) |
(760.384) |
(44.630) |
|
|
NETWORTH |
1545.010 |
740.616 |
956.370 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
5268.408 |
1386.626 |
0.000 |
|
|
TOTAL BORROWING |
5268.408 |
1386.626 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6813.418 |
2127.242 |
956.370 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5126.960 |
309.111 |
43.550 |
|
|
Capital work-in-progress |
2052.573 |
2515.056 |
855.810 |
|
|
|
|
|
|
|
|
INVESTMENT |
312.159 |
1120.355 |
184.574 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.208
|
12.858 |
51.884 |
|
|
Sundry Debtors |
1447.210
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
129.056
|
130.921 |
0.345 |
|
|
Other Current Assets |
7910.865
|
3359.183 |
1089.092 |
|
|
Loans & Advances |
4355.818
|
2102.517 |
0.000 |
|
Total
Current Assets |
13894.157
|
5605.479 |
1141.321 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9181.753
|
3846.109 |
128.322 |
|
|
Other Current Liabilities |
5377.066
|
3570.192 |
1140.207 |
|
|
Provisions |
13.612
|
6.458 |
0.356 |
|
Total
Current Liabilities |
14572.431
|
7422.759 |
1268.885 |
|
|
Net Current Assets |
(678.274)
|
(1817.280) |
(127.564) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6813.418 |
2127.242 |
956.370 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
11410.884 |
4276.023 |
67.546 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
11601.961 |
4913.452 |
109.427 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(191.077) |
(637.429) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
94.119 |
11.534 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(285.196) |
(648.963) |
(41.881) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.048 |
2.749 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(285.196) |
(649.011) |
(44.630) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Other Earnings |
0.000 |
0.836 |
NA |
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(978.837) |
(693.641) |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.80) |
(4.88) |
(0.99) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(2.50)
|
(15.17) |
(66.07) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.50)
|
(10.97) |
(3.53) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.18)
|
(0.88) |
(0.74) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
12.84
|
11.89 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
0.75 |
0.90 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.201 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Ultimate holding company and
its Group Companies |
|
3846.109 |
115.769 |
|
Mitsubishi Heavy Industries Limited |
|
|
4.565 |
|
Mitsubishi Electric Corporation |
|
|
7.988 |
|
TOTAL |
9181.753
|
3846.109 |
128.322 |
|
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 |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FINANCIAL AND PERFORMANCE OF THE COMPANY:
During the year, the Company has reported a substantial growth in the
revenue by 167% to Rs. 11410.884 Millions as against Rs. 4276.023 Millions in
the previous. The Company has commenced the manufacturing facility during the
year at Hazira, Surat. The Company has received the ISO 9001:2008
certification.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U31101MH2006PTC166541 |
|
Name of the
company |
L AND T – MHI TURBINE GENERATORS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
L and T House, Ballard Estate, Mumbai-400001, Maharashtra, India |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10240270 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri,
Baroda-390015, Gujarat, India Email: sachin.jog@icicibank.com
|
|
Nature of
instrument creating charge |
Third
Supplemental Deed of Hypothecation |
|
Date of
instrument Creating the charge |
23.09.2011 |
|
Amount secured by
the charge |
Rs. 12500.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Credit
Arrangement Letter No. CBG/2011-12/CMOG No 12/CBGMUM/;36536 dated September
22, 2011 Terms of
Repayment As per
Supplemental Facility Agreement dated September 23, 2011 and supplemental
Letter of Credit facility Agreement dated September 23, 2011 Margin Credit
Arrangement Letter No. CBG/2011-12/CMOG No 12/CBGMUM/;36536 dated September
22, 2011 Extent and
Operation of the charge Amount secured facilities
shall not exceed Rs. 12.50 billion (Previous secured amount not exceeding Rs.
7.25 billion). The current assets have been hypothecated as and by way of
first pari passu with charge created in favour of ICICI Bank as stated in
Third supplemental deed of hypothecation – WCF dated 23.09.2011 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Company’s stock
and book debts located at its factory, offices or any other premises. |
|
Date of
instrument modifying the charge |
19.05.2011 |
|
Particulars of
the present modification |
Working capital
facility enhanced from Rs. 7.25 billion to Rs. 12.50 billion as stated in
Third supplemental Facility Agreement Dated 23.09.2011 and Third supplemental
Deed of Hypothecation – WCF dated 23.09.2011 |
CONTINGENT LIABILITIES:
Estimated amount of contracts remaining to be executed
on capital account (net of advances) Rs.2453.940 Millions (Previous year
Rs.3178.525 Millions)
FIXED ASSETS:
- Plant and
Machinery
- Furniture and
Fixtures
- Motor
Vehicles
- Electric
Equipments
- Air
Conditioners
- Tools, Jigs
and Fixtures
- Office
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 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.55.72 |
|
|
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.