1. Summary Information
|
|
|
Country |
|
|
Company Name |
CHEVROLET SALES
INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Abhinav Kumar Singh |
|
Status |
Good |
Principal Name 2 |
Mr. Vikas Jain |
|
|
|
Registration # |
04-054265 |
|
Street Address |
Block-B, Chandrapura Industrial Estate, District Panchmahals, Halol –
389 351, Gujarat, India |
||
|
Established Date |
20.06.2008 |
SIC Code |
-- |
|
Telephone# |
91-2676-221000 |
Business Style 1 |
Purchaser |
|
Fax # |
91-2676-220666 |
Business Style 2 |
Seller |
|
Homepage |
Product Name 1 |
Motor Vehicles |
|
|
# of employees |
Not Available |
Product Name 2 |
Spare Parts |
|
Paid up capital |
RS. 267,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings-100% |
Banking |
Not Available |
|
Public Limited Corp. |
NO |
Business Period |
5 Years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company : |
-- |
SAIC
General Motors Investment Limited (HKJV) |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,874,200,000
|
Current Liabilities |
2,262,100,000
|
|
Inventories |
1,540,600,000
|
Long-term Liabilities |
-- |
|
Fixed Assets |
326,400,000 |
Other Liabilities |
789,700,000
|
|
Deferred Assets |
8,800,000 |
Total Liabilities |
3,051,800,000 |
|
Invest& other Assets |
69,100,000 |
Retained Earnings |
500,300,000 |
|
|
|
Net Worth |
767,300,000 |
|
Total Assets |
3,819,100,000 |
Total Liab. & Equity |
3,819,100,000 |
|
Total Assets (Previous Year) |
5,459,000,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
56,317,900,000 |
Net Profit |
198,100,000 |
|
Sales(Previous yr) |
49,965,400,000 |
Net Profit(Prev.yr) |
203,600,000 |
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHEVROLET SALES INDIA PRIVATE LIMITED (w.e.f. 31.03.2009) |
|
|
|
|
Formerly Known
As : |
GENERAL MOTORS ( |
|
|
|
|
Registered
Office : |
Block-B, Chandrapura Industrial Estate, District Panchmahals, Halol –
389 351, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.06.2008 |
|
|
|
|
Com. Reg. No.: |
04-054265 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.267.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34102GJ2008PTC054265 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCG2067M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Purchaser and Seller of Motor Vehicles and Spare Parts ("Automobiles").
|
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2277000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established and reputed company having a fine track
record. Financial position of the company appears to be good. Trade relations
are reported as fair. Business is active. Payments are reported to be regular
and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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.
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 : |
Block-B, Chandrapura Industrial Estate, District Panchmahals, Halol –
389 351, |
|
Tel. No.: |
91-2676-221000 |
|
Fax No.: |
91-2676-220666 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
1st Floor, Plot No.15, Sector - 32, Gurgaon – 122 001, |
|
Tel. No.: |
91-124-3080000/ 4213333 |
|
Fax No.: |
91-124-4213334 |
|
E-Mail : |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Abhinav Kumar Singh |
|
Designation : |
Director |
|
Address : |
Tower 19, Close South City, Nirvana Country, Gurgaon – 122 018,
Haryana, India |
|
Date of Birth/Age : |
12.02.1979 |
|
Date of Appointment : |
05.09.2012 |
|
DIN No.: |
06360687 |
|
|
|
|
Name : |
Mr Vikas Jain |
|
Designation : |
Director |
|
Address : |
D 603, Nagarjuna Appartments, Mayur Vihar 1, New Delhi – 110 096,
Delhi, India |
|
Date of Birth/Age : |
08.12.1967 |
|
Date of Appointment : |
05.09.2012 |
|
DIN No.: |
05358524 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Kumar Dulani |
|
Designation : |
Secretary |
|
Address : |
House No.69, Sector 41, Gurgaon – 122 001, |
|
Date of Birth/Age : |
06.10.1969 |
|
Date of Appointment : |
25.05.2009 |
|
PAN No.: |
ACIPD6183B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
SAIC General Motors Investment Limited, |
|
26696244 |
|
SAIC Motor HK Investment Limited, |
|
1 |
|
General Motors (Hong Kong) Company Limited, |
|
1 |
|
Total |
|
26696246 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2012
|
Category |
Percentage |
|
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 : |
Purchaser and Seller of Motor Vehicles and Spare Parts
("Automobiles"). |
||||
|
|
|
||||
|
Product : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower-B, DLF Cyber City Complex,
DLF City Phase-II, Gurgaon - 122 002, Haryana, India. |
|
Tel. No.: |
91-124-6792000 |
|
Fax No.: |
91-124-6792012 |
|
PAN No. : |
AABFD2095B |
|
|
|
|
Holding Company : |
· SAIC General Motors Investment Limited (HKJV) |
|
|
|
|
Ultimate Joint Venturer(Shareholders
of HKJV) (with effect from February 1, 2010) : |
· General Motors Company · SAIC Motor Corporation Limited |
|
|
|
|
Fellow
subsidiaries/associates of General Motors Company and SAIC Motor Corporation
Limited, where transactions exists : |
· General Motors Company (USA) · General Motors Overseas Distribution Corporation (USA) ·
General Motors India Private Limited, India (CIN No.:
U34100GJ1994PTC021818) · General Motors do Brasil LTDA. · General Motors Powertrain (Thailand) Limited ·
General Motors Technical Centre India Private
Limited (CIN
No.: U74200KA2009PTC049932) · GM Korea Company · Adam Opel GmbH · General Motors Overseas Corporation (USA) · General Motors Thailand Limited · SAIC GM Wuling Automobile Limited |
CAPITAL STRUCTURE
As on 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26696246 |
Equity Shares |
Rs.10/- each |
Rs. 267.000 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 |
267.000 |
267.000 |
267.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
500.300 |
302.200 |
98.600 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
767.300 |
569.200 |
365.600 |
|
|
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 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
767.300 |
569.200 |
365.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
326.400 |
212.800 |
206.800 |
|
|
Capital work-in-progress |
69.100 |
82.800 |
5.800 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
8.800 |
7.800 |
13.100 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1540.600
|
1545.200
|
1316.500 |
|
|
Sundry Debtors |
39.000
|
490.000
|
141.900 |
|
|
Cash & Bank Balances |
404.600
|
489.400
|
389.400 |
|
|
Other Current Assets |
0.700
|
0.000
|
0.000 |
|
|
Loans & Advances |
1429.900
|
2631.000
|
1335.800 |
|
Total
Current Assets |
3414.800
|
5155.600
|
3183.600 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1810.600
|
3693.000
|
2251.100 |
|
|
Other Current Liabilities |
451.500
|
668.200
|
515.300 |
|
|
Provisions |
789.700
|
528.600
|
277.300 |
|
Total
Current Liabilities |
3051.800
|
4889.800
|
3043.700 |
|
|
Net Current Assets |
363.000
|
265.800
|
139.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
767.300 |
569.200 |
365.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Revenue from sale of products |
56317.900 |
49965.400 |
35006.800 |
|
|
|
Other Income |
N.A |
NA |
356.700 |
|
|
|
TOTAL (A) |
N.A |
NA |
35363.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and other Expenses |
N.A |
NA |
35190.700 |
|
|
|
TOTAL (B) |
N.A |
NA |
35190.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
N.A |
NA |
172.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
N.A |
NA |
1.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
N.A |
NA |
170.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
N.A |
NA |
13.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
N.A |
NA |
157.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
N.A |
NA |
55.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
198.100 |
203.600 |
102.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
N.A |
NA |
(4.100) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
N.A |
NA |
98.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Reimbursement of Expenses |
N.A |
NA |
8.200 |
|
|
|
FOB value of Goods Exported |
N.A |
NA |
0.100 |
|
|
TOTAL EARNINGS |
N.A |
NA |
8.300 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Vehicles |
N.A |
1337.400 |
858.500 |
|
|
|
Parts and Accessories |
N.A |
800.400 |
853.200 |
|
|
TOTAL IMPORTS |
N.A |
2137.800 |
1711.700 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
19.81 |
7.63 |
3.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
NA |
0.29 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
0.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
4.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.05 |
1.05 |
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 |
No |
|
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 |
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 |
REVIEW OF OPERATIONS:
The most significant developments that had taken place in the financial year 2011-2012 is the rolling out of Beat Diesel vehicle from the Talegaon plant, the rapid expansion of the dealership network, conducting country-wide free service camps for Chevrolet vehicles at our dealerships, successful launches of Tavera Neo 3. In addition, the joint venture tie up with SAIC has also started moving forward in full swing with Halol Plant starting expansion activities to increase the capacity from 85,000 units to 110,000 units per annum to roll out the LCVs from the plant going forward. The JV with SAIC is a great achievement as the tie up will help create a number of new avenues to grow CSIPL?s business. The JV will bring in lot of value additions and competitive options to customers.
FIXED ASSETS :
·
Leasehold Improvements
·
Buildings – Non Factory
·
Plant and Machinery
·
Computers
·
Furniture and Fixtures
·
Vehicles
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 governmen 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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
RSMK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.