|
Report Date : |
01.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUJAN BARRE THOMAS ANTIVIBRATION SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
REG 77, Mistry Industrial Complex, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.08.2008 |
|
|
|
|
Com. Reg. No.: |
11-185753 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.138.915
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2008PTC185753 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS60981E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS2867C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Anti-Vibration Automotive Components. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 700000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 50:50 Joint Venture between It is an established company having a moderate track record. It has
shown some improvement in its performance during 2012. The financial strength
of the company is moderate. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
|
India |
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
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 |
BB+ (Long Term Rating) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
14.08.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and very high credit risk. |
|
Date |
14.08.2012 |
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.
LOCATIONS
|
Registered Office : |
REG 77, Mistry Industrial Complex, |
|
Tel. No.: |
91-22-26870360 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Building No.1, Plot No.1 and 2, Behind Blue Chip Industrial Estate, Village
Waliv, Sitavali Udyog Nagar, Vasai (East), District Thane – 401208,
Maharashtra, India |
|
Tel. No.: |
91-250-2456743/44 |
|
Fax No.: |
91-250-2456745 |
|
E-Mail : |
DIRECTORS
AS ON 30.08.2012
|
Name : |
Mr. Ashok Rewachand Sujan |
|
Designation : |
Director |
|
Address : |
1701, Green Acres, Lokhadwala Complex, Andher (West),
Mumbai - 400058, |
|
Date of Appointment : |
26.08.2008 |
|
DIN No.: |
01424203 |
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 |
U25110MH1995PTC084554 |
MEGA
RUBBER TECHNOLOGIES PRIVATE LIMITED |
Director |
04/07/1997 |
04/07/1997 |
Active |
NO |
|
2 |
U25190MH1994PTC079883 |
MAGNUM
ELASTOMERS PRIVATE LIMITED |
Director |
09/10/2004 |
09/10/2004 |
Active |
NO |
|
3 |
U25110MH2005PTC156873 |
POLYRUB
EXTRUSIONS (INDIA) PRIVATE LIMITED |
Director |
19/10/2005 |
19/10/2005 |
Active |
NO |
|
4 |
U51900MH2008PTC185753 |
SUJAN
BARRE THOMAS ANTIVIBRATION SYSTEMS PRIVATE LIMITED |
Director |
28/07/2011 |
26/08/2008 |
Active |
NO |
|
Name : |
Mr. Neel Rewachand Sujan |
|
Designation : |
Director |
|
Address : |
802/902, Ruchita Tower, Juhu Versova Link Road, Andheri
West, Mumbai, 400053, Maharashtra, India |
|
Date of Birth/ Age : |
05.08.1957 |
|
Date of Appointment : |
12.08.2008 |
|
DIN No.: |
01424276 |
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 |
U25110MH1995PTC084554 |
MEGA
RUBBER TECHNOLOGIES PRIVATE LIMITED |
Managing
director |
07/09/1996 |
07/09/1996 |
Active |
NO |
|
2 |
U25190MH1994PTC079883 |
MAGNUM
ELASTOMERS PRIVATE LIMITED |
Director |
09/10/2004 |
09/10/2004 |
Active |
NO |
|
3 |
U70102MH2007PTC167360 |
SUJAN
REALTORS PRIVATE LIMITED |
Director |
29/01/2007 |
29/01/2007 |
Active |
NO |
|
4 |
U51900MH2008PTC185753 |
SUJAN
BARRE THOMAS ANTIVIBRATION SYSTEMS PRIVATE LIMITED |
Director |
12/08/2008 |
12/08/2008 |
Active |
NO |
|
Name : |
Sylvain Gabriel Broux |
|
Designation : |
Director |
|
Address : |
37, RUE DE LA Vignonnerie, ST Leger Des Vignes, 58300, |
|
Date of Appointment : |
22.06.2011 |
|
DIN No.: |
03580319 |
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 |
U51900MH2008PTC185753 |
SUJAN
BARRE THOMAS ANTIVIBRATION SYSTEMS PRIVATE LIMITED |
Director |
28/07/2011 |
22/06/2011 |
Active |
NO |
|
Name : |
Mathieu Andre Barthelemy Dore |
|
Designation : |
Director |
|
Address : |
10, |
|
Date of Appointment : |
29.03.2012 |
|
DIN No.: |
05309028 |
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 |
U51900MH2008PTC185753 |
SUJAN
BARRE THOMAS ANTIVIBRATION SYSTEMS PRIVATE LIMITED |
Director |
30/08/2012 |
29/03/2012 |
Active |
NO |
b
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.08.2012
|
Names of Shareholders |
No. of Shares |
|
Magnum Elastomers Private Limited, |
6945750 |
|
Cooper Standard France, |
6945750 |
|
TOTAL
|
13891500 |
AS ON 30.08.2012
|
Names of Allottees |
No. of Shares |
|
Magnum Elastomers Private Limited, |
98536 |
|
Cooper Standard France, |
98536 |
|
TOTAL
|
197072 |
AS ON 30.08.2012
|
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 |
50.00 |
|
Bodies corporate |
50.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Anti-Vibration Automotive Components. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rohira Mehta and Associates Chartered Accountant |
|
Address : |
B-202, 2nd Floor, Grand Bella Vista, |
|
PAN No.: |
AAIPR8005L |
|
|
|
|
Related Parties : |
·
Cooper Standard France ·
Magnum Elastomers Private Limited ·
Mega Rubber Technologies Private Limited ·
Sujan Industries ·
Teevee Tools
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13891500 |
Equity Shares |
Rs.10/- each |
Rs. 138.915
Millions |
|
|
|
|
|
AS ON 30.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14088572 |
Equity Shares |
Rs.10/- each |
Rs. 140.886
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
138.915 |
130.000 |
130.000 |
|
|
2] Share Application Money |
26.264 |
24.093 |
3.916 |
|
|
3] Reserves & Surplus |
11.194 |
(29.034) |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(31.656) |
|
|
NETWORTH |
176.373 |
125.059 |
102.260 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
53.424 |
46.127 |
0.000 |
|
|
2] Unsecured Loans |
0.850 |
0.850 |
0.000 |
|
|
TOTAL BORROWING |
54.274 |
46.977 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
2.869 |
|
|
|
|
|
|
|
|
TOTAL |
230.647 |
172.036 |
105.129 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
228.930 |
117.686 |
37.897 |
|
|
Capital work-in-progress |
3.792 |
13.272 |
18.908 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
11.639 |
12.736 |
16.791 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
43.952
|
20.461
|
12.699 |
|
|
Sundry Debtors |
167.427
|
114.702
|
50.055 |
|
|
Cash & Bank Balances |
3.314
|
1.382
|
12.624 |
|
|
Other Current Assets |
3.636
|
7.658
|
0.000 |
|
|
Loans & Advances |
31.408
|
16.056
|
16.155 |
|
Total
Current Assets |
249.737
|
160.259 |
91.533 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
103.679
|
74.678
|
52.525 |
|
|
Other Current Liabilities |
140.840
|
43.144
|
0.000 |
|
|
Provisions |
18.932
|
14.095
|
11.808 |
|
Total
Current Liabilities |
263.451
|
131.917 |
64.333 |
|
|
Net Current Assets |
(13.714)
|
28.342
|
27.200 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
4.333 |
|
|
|
|
|
|
|
|
TOTAL |
230.647 |
172.036 |
105.129 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
519.310 |
369.449 |
163.200 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
57.633 |
13.872 |
(31.161) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.193 |
1.794 |
0.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
48.440 |
12.078 |
(31.186) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
30.783 |
8.269 |
4.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
17.657 |
3.809 |
(35.276) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.340 |
1.187 |
(10.856) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
13.317 |
2.622 |
(24.420) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(29.034) |
(31.656) |
(7.071) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
(0.165) |
0.000 |
0.165 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(15.552) |
(29.034) |
(31.656) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.00 |
0.20 |
(3.01) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
3.40
|
1.03 |
(21.62) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.60
|
1.31 |
(24.13) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.03 |
(0.34) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31
|
0.38 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
1.21 |
1.42 |
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) |
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] |
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 |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Loans and Advances from Related Parties |
0.850 |
0.850 |
|
|
|
|
|
TOTAL |
0.850 |
0.850 |
BACKGROUND AND
NATURE OF OPERATIONS
Subject is a Company domiciled in India and incorporated under the
provisions of the Companies Act,1956 as on August 12, 2008 as a private limited
company. The Company is engaged primarily in the business of Antivibration
Systems Parts for Automobiles
REVIEW OF
OPERATIONS
The directors
report with reasonable satisfaction that the company was able to post a
turnover of Rs. 519.310 Millions in its third full year of operations, which
compared with a turnover of Rs.369.449 Millions in the previous year represents
a 40.56 % growth.
FUTURE OUTLOOK
The domestic
market is showing robust growth and the current demand estimated at 2.2 Million
is expected to reach 5 Million by 2016-2017. It is expected that significant
impetus will continue in the increasing requirements of Anti Vibration
solutions and products which are the main focus of the company. The company has
obtained new orders worth Rs. 1540.000 Millions from Nissan and Mahindra which
is to be executed in the coming FY. The company continues to obtain repeat
orders from its existing customers including Maruti. The company continues its
efforts to add new upcoming customers in the Auto Segment, while at the same
time maintaining its emphasis on not compromising the bottom line. With the
right strategy, delivery mechanism and customer orientation, the company is
confident of making reasonable progress in penetrating the market.
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Office Equipments
·
Furniture Fixtures
·
Vehicle
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. 54.38 |
|
|
1 |
Rs. 82.32 |
|
Euro |
1 |
Rs. 69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.