MIRA INFORM REPORT
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANDVIK ASIA PRIVATE LIMITED (w.e.f. 15.03.2010) |
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|
|
|
Formerly Known
As : |
SANDVIK ASIA LIMITED |
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Registered
Office : |
Sandvik Coromant, Mumbai – |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
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Date of
Incorporation : |
08.07.1960 |
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Com. Reg. No.: |
11-011751 |
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Capital
Investment / Paid-up Capital : |
Rs.1149.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN1960PTC011751 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES00125G / PNES09024B |
|
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|
|
PAN No.: [Permanent Account No.] |
AACCS6638K |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and
Trader of tungsten carbide tools, rock processing equipments, thermostatic
electrical bimetal strips, wires, ribbons, heating elements, cold finished tubes/pipes
and manufacturing of hot extruded seamless stainless steel tubes/pipes. |
|
|
|
|
No. of Employees : |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 21760000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of ‘Sandvik AB’, Sweden. It a well established
company having a fine track record. It has achieved some growth in its sales and profits during 2012. The
financial position of the company is good. Trade relations are reported as
decent. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA (Long Term Rating) |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
22.01.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (short Term Rating) |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
22.01.2013 |
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 : |
Sandvik Coromant, Mumbai – |
|
Tel. No.: |
91-20-27146800 / 27104800 / 725 |
|
Fax No.: |
91-20-27149370 / 27145022 / 736 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
Sales Office : |
Plot 49 and 49B, Sipcot Industrial Complex, Hosur – 635126, Tamilnadu,
India |
|
Tel No.: |
91-4344-403500/579 |
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Fax No.: |
91-4344-403520 |
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Branch Office : |
Located at :
|
DIRECTORS
AS ON 05.09.2012
|
Name : |
Mr. Suresh Narsappa Talwar |
||
|
Designation : |
Director |
||
|
Address : |
100000, Shiv Shanti Bhavan, 146, |
||
|
Date of Birth/Age : |
21.11.1937 |
||
|
Date of Appointment : |
29.03.1989 |
||
|
DIN No.: |
00001456 |
||
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||
|
Name : |
Mr. Anders Gosta Thelin |
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|
Designation : |
Director |
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|
Address : |
AB Sandvik Coromant, 811-81 Sandviken, Sweden, Sandviken, Sweden -
81181 |
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|
Date of Birth/Age : |
11.11.1950 |
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Date of Appointment : |
07.05.1994 |
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DIN No.: |
01454140 |
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Name : |
Mr. Ajitkumar Daulatrao Jadhav |
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Designation : |
Director |
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Address : |
409, Shakala, |
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Date of Birth/Age : |
20.02.1947 |
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|
Date of Appointment : |
29.09.2009 |
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|
DIN No.: |
02071304 |
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|
Name : |
Mr. Olaf Bertil Faxander |
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Designation : |
Director |
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Address : |
Polismyndigheten I, Sweden, Stockholms Lan, Stockholms – 700519 |
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Date of Birth/Age : |
19.05.1970 |
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Date of Appointment : |
27.09.2011 |
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DIN No.: |
03557497 |
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|
Name : |
Mr. Ajay Waman Sambrani |
||
|
Designation : |
Managing director |
||
|
Address : |
A6/426, Apartment, Gurudwara Road, Bodakdev, Ahemedabad – 380054,
Gujarat, India |
||
|
Date of Birth/Age : |
24.01.1966 |
||
|
Date of Appointment : |
27.09.2011 |
||
|
DIN No.: |
03630635 |
||
KEY EXECUTIVES
|
Name : |
Mr. Kirankumar Yashwantrai Acharya |
|
Designation : |
Secretary |
|
Address : |
2, Swikar Tenament, Drive In Road, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
22.02.1961 |
|
Date of Appointment : |
25.05.2009 |
|
PAN No.: |
AAJPA2208B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Sandvik AB, Sweden |
1801241 |
|
Sandvik Finance BV, Sweden |
125000 |
|
Sandvik Far East Limited AB, Sweden |
1 |
|
Industri AB Skomab, Sweden |
1 |
|
Sandvik Invest AB, Sweden |
1 |
|
SETP Invest AB, Sweden |
1 |
|
AB Sandvik Teknik, Sweden |
1 |
|
TOTAL
|
1926246 |
|
Names of Preference Shareholders |
No. of Shares |
|
Sandvik AB, Sweden |
14229000 |
|
Sandvik Finance BV, Sweden |
73558700 |
|
TOTAL
|
87787700 |
|
Names of Preference Shareholders |
No. of Shares |
|
Sandvik Heating Technology AB, Sweden |
3144565 |
|
TOTAL
|
3144565 |
AS ON 05.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Trader of tungsten carbide tools, rock processing equipments, thermostatic
electrical bimetal strips, wires, ribbons, heating elements, cold finished
tubes/pipes and manufacturing of hot extruded seamless stainless steel
tubes/pipes. |
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Tungsten Carbide
products including integral Rock Drill Steels, Bits, Detachable Bits,
Extension Drill Steel Equipments, Inserts Tips, Dies, Nibs and other
applications |
Tonnes No’s in Millions |
258 |
258 |
12.00 |
|
Sandvik Coromant
Tools, Wear resisting Parts and similar products, mining and construction
tools |
No's in Millions |
1.48 |
1.48 |
1.46 |
|
Taps and solid carbide drills |
No's in Millions |
1.26 |
0.83 |
0.60 |
|
Hydrogen gas |
CU mtrs |
700000 |
700000 |
-- |
|
Cobalt Metal and Compounds |
Tones |
70 |
70 |
64.40 |
|
Thermostatic bimetal/strip |
Tones |
100 |
-- |
26.00 |
|
High resistance electrical wires, strips and ribbons |
Tones |
600 |
200 |
176.10 |
|
Bimetal components, Heating elements and terminal rods |
Nos. |
@ |
@ |
1332753 |
|
Hot extruded steel pipes |
Tones |
-- |
10000 |
6922.00 |
|
Recycling of inserts |
Tones |
750 |
750 |
461.80 |
@ There is no separate licensed and installed capacity.
GENERAL INFORMATION
|
No. of Employees : |
1500 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
B S R and Company Chartered Accountant |
|
Address : |
1st Floor Lodha Excelus Apollo Mills Compound, N M Joshi Marg,
Mahalaxmi, Mumbai-400011, Maharashtra, India |
|
PAN No.: |
AAAFB9852F |
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Holding Company : |
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Subsidiaries : |
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Fellow Subsidiaries : |
ARGENTINA
AUSTRALIA
AUSTRIA
BELGIUM
BRAZIL
CANADA
CHILE
CHINA
COLOMBIA
CZECH REPUBLIC
FINLAND
FRANCE
GERMANY
INDIA
INDONESIA
IRELAND
ITALY
JAPAN
KOREA (SOUTH)
MALAYSIA
MEXICO
NEW ZEALAND
NORWAY
PERU
PHILIPPINES
RUSSIAN FEDERATION
SINGAPORE
SOUTH AFRICA
SPAIN
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
TURKEY
UK
UNITED ARAB EMIRATES
UNITED STATES
ZAMBIA
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs. 200.000 Millions |
|
87788000 |
2% Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 878.000 Millions |
|
3145000 |
2% Redeemable Cumulative Preference Shares |
Rs.25/- each |
Rs. 78.000 Millions |
|
1232000 |
9% Redeemable Cumulative Preference Shares |
Rs.25/- each |
Rs. 31.000 Millions |
|
|
TOTAL |
|
Rs. 1187.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1926246 |
Equity Shares |
Rs.100/-
each |
Rs. 193.000
Millions |
|
87787700 |
2% Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 878.000 Millions |
|
3144565 |
2% Redeemable Cumulative Preference Shares |
Rs.25/- each |
Rs. 78.000 Millions |
|
|
TOTAL |
|
Rs. 1149.000 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 |
1149.000 |
1149.000 |
1149.116 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4293.000 |
3634.000 |
3170.829 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5442.000 |
4783.000 |
4319.945 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
389.000 |
613.000 |
457.668 |
|
|
2] Unsecured Loans |
1462.000 |
692.000 |
1668.263 |
|
|
TOTAL BORROWING |
1851.000 |
1305.000 |
2125.931 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7293.000 |
6088.000 |
6445.876 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3248.000 |
2857.000 |
3115.442 |
|
|
Capital work-in-progress |
498.000 |
351.000 |
387.334 |
|
|
|
|
|
|
|
|
INVESTMENT |
20.000 |
20.000 |
20.250 |
|
|
DEFERREX TAX ASSETS |
457.000 |
391.000 |
324.541 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4119.000
|
3277.000 |
2032.629
|
|
|
Sundry Debtors |
3111.000
|
2357.000 |
2140.258
|
|
|
Cash & Bank Balances |
418.000
|
371.000 |
192.280
|
|
|
Other Current Assets |
511.000
|
294.000 |
422.576
|
|
|
Loans & Advances |
1773.000
|
1291.000 |
1212.135
|
|
Total
Current Assets |
9932.000
|
7590.000 |
5999.878 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4044.000
|
3307.000 |
2155.101
|
|
|
Other Current Liabilities |
1833.000
|
1068.000 |
655.333
|
|
|
Provisions |
985.000
|
746.000 |
591.135
|
|
Total
Current Liabilities |
6862.000
|
5121.000 |
3401.569 |
|
|
Net Current Assets |
3070.000
|
2469.000 |
2598.309
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7293.000 |
6088.000 |
6445.876 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
19486.000 |
14908.000 |
12344.072 |
|
|
|
Other Income |
NA |
NA |
0.000 |
|
|
|
TOTAL |
NA |
NA |
12344.072 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
11863.205 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
1560.000 |
1002.000 |
480.867 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
654.000 |
293.000 |
149.812 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
906.000 |
709.000 |
331.055 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3096.000 |
2704.000 |
2550.660 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
93.000 |
71.000 |
35.000 |
|
|
|
Preference Shares Dividend (including dividend distribution tax) |
22.000 |
22.000 |
22.307 |
|
|
|
Dividend on Equity Shares (including dividend distribution tax) |
224.000 |
224.000 |
120.063 |
|
|
BALANCE CARRIED
TO THE B/S |
3663.000 |
3096.000 |
2704.345 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
4456.971 |
|
|
|
Commission Earnings |
NA |
NA |
415.714 |
|
|
|
Other Earnings |
NA |
NA |
4.015 |
|
|
TOTAL EARNINGS |
NA |
NA |
4876.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
1984.976 |
|
|
|
Stores & Spares |
NA |
NA |
95.961 |
|
|
|
Capital Goods |
NA |
NA |
231.387 |
|
|
|
Traded Goods |
NA |
NA |
1890.681 |
|
|
TOTAL IMPORTS |
NA |
NA |
4203.005 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
470.34 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
2.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.01
|
6.72 |
3.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.44
|
9.25 |
5.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.21 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.34
|
0.27 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.48 |
1.76 |
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 |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
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 |
|
Long-term
borrowings |
|
|
|
Loan from banks* |
33.000 |
0.000 |
|
Loans and advances from related parties** (External commercial borrowings from Sandvik AB) |
0.000 |
491.000 |
|
Short-term
borrowings |
|
|
|
Loans from banks |
1429.000 |
201.000 |
|
|
|
|
|
TOTAL |
1462.000 |
692.000 |
|
Notes * Terms of
repayment of loan from bank (Loan due for repayment on 8 July 2014) ** Terms of
repayment of loans from related parties (Loan due for repayment in two
installments of KUSD 6,000 on 29 June 2012 and KUSD 5,000 on 28 September
2012) |
||
BACKGROUND
Subject was
incorporated on 8 July 1960 under the Companies Act, 1956 as a subsidiary of
Sandvik AB. Sandvik AB is a body corporate registered in Swedenand having its
registered office in Sandviken. Sandvik Asia Private Limited has its primary
work location and registered office at Pune and additional manufacturing work
locations at Chiplun (Maharashtra), Mehsana (Gujarat), Patancheru (Andhra
Pradesh) and Hosur (Tamil Nadu) in India. The Company’s principal activities
comprise manufacturing and trading of tungsten carbide tools, rock processing
equipments, thermostatic electrical bimetal strips, wires, ribbons, heating
elements, cold finished tubes/pipes and manufacturing of hot extruded seamless
stainless steel tubes/pipes.
PROFITABILITY
Sandvik Asia
continues to be a significant source of high quality products for the Sandvik
Group. During the year, the Company’s net sales amounted to MINR 19,486
compared to MINR 14,908 in the year 2010-11. The profit before tax for the year
2011-12 was MINR 1,559 as against MINR 1,002 in the earlier year.
FIXED ASSETS
- Land
- Office and
- Plant and
Machinery
- Furniture and
Fittings
- Office
Equipments
- Vehicle
- Technical
Know How
- Brand Rhino
- Brand Widia
- Goodwill
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 54.02 |
|
|
1 |
Rs. 70.49 |
|
Euro |
1 |
Rs. 82.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.