MIRA
INFORM REPORT
|
Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANDEN VIKAS (INDIA) LIMITED [w.e.f. 08.05.2008] |
|
|
|
|
Formerly Known
As : |
SANDEN VIKAS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12-A, Shivaji Marg, New Delhi – 110015 |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
23.09.1982 |
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|
|
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Com. Reg. No.: |
55-014381 |
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Capital
Investment / Paid-up Capital : |
Rs.146.250
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45202DL1982PLC014381 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS00104G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS3174M |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufactures
of Automotive Air Conditioning Systems. |
|
|
|
|
No. of Employees
: |
450 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1210000 |
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|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. There
appears huge external borrowing recorded by the company. The company has
incurred some loss from its operations during 2012. However, trade relations are reported as fair. Business is active.
Payment terms are slow. The company can be considered for business dealings with some caution.
|
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 |
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
|
Name : |
Mr. Rajesh Gupta |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-129-4196033 |
|
Date : |
18.04.2013 |
LOCATIONS
|
Registered / Corporate Office : |
12-A, Shivaji Marg, New Delhi – 110015, India |
|
Tel. No.: |
91-11-42070707 |
|
Fax No.: |
91-11-25451004 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No.65, Sector 27A, Faridabad – 121003, Haryana, India |
|
Tel. No.: |
91-129-4196141/ 4196000 |
|
Fax No.: |
91-129-4196196 |
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E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No. 45-46, Industrial Area, NIT, Faridabad – 121001, Haryana,
India |
|
Tel No.: |
91-129-4093000/ 4093100 |
|
Fax No.: |
91-129-4023105 |
|
|
|
|
Factory 3 : |
73/8, Delhi-Mathura Road, Village Mitnol, Aurangabad, Tehsil Hodal, District
Faridabad – 121105, Haryana, India |
|
Tel No.: |
91-1275-263801/ 263802 |
|
Email: |
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|
|
|
|
Regional Office 1 : |
GAT No.1224/1, Sanaswadi, Taluka-Shirur, District Pune-412208,
Maharashtra, India |
|
|
|
|
Regional Office 2 : |
Kamala Arcade, 669, Anna Salai, Chennai – 600006, Tamilnadu, India |
|
Tel. No.: |
91-44-28297384 |
|
Fax No.: |
91-44-28297273 |
|
E-Mail : |
DIRECTORS
AS ON 23.07.2012
|
Name : |
Mr. Praveen Agarwal |
|
Designation : |
Managing Director |
|
Address : |
89, Sunder Nagar, New Delhi – 110003, India |
|
Date of Birth/Age : |
03.09.1953 |
|
Date of Appointment : |
23.09.1982 |
|
DIN No.: |
00036445 |
|
|
|
|
Name : |
Mr. Naveen Agarwal |
|
Designation : |
Director |
|
Address : |
315, The Aralivas, DLF Golf Links, DLF City, Phase 5, Gurgaon -
122009, Haryana, India |
|
Date of Birth/Age : |
12.06.1959 |
|
Date of Appointment : |
06.11.1989 |
|
DIN No.: |
00036585 |
|
|
|
|
Name : |
Mr. Takamasa Okura |
|
Designation : |
Whole Time Director |
|
Address : |
1306-A, Beverley Park-II, DLF, Phase II, Gurgaon – 122 002, |
|
Date of Birth/Age : |
20.03.1949 |
|
Date of Appointment : |
15.12.2008 |
|
DIN No.: |
02277300 |
|
|
|
|
Name : |
Mr. Robert Kheng |
|
Designation : |
Director |
|
Address : |
11, |
|
Date of Birth/Age : |
29.12.1954 |
|
Date of Appointment : |
11.12.2009 |
|
DIN No.: |
02764104 |
|
|
|
|
Name : |
Mr. Yuichi Yasui |
|
Designation : |
Director |
|
Address : |
Kameido 3-38-16, Koto-KU, |
|
Date of Birth/Age : |
03.12.1954 |
|
Date of Appointment : |
03.03.2008 |
|
DIN No.: |
02093735 |
|
|
|
|
Name : |
Mrs. Puja Agarwal |
|
Designation : |
Director |
|
Address : |
89, Sunder Nagar, New Delhi – 110003, India |
|
Date of Birth/Age : |
17.02.1957 |
|
Date of Appointment : |
12.06.2002 |
|
DIN No.: |
01147894 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Gupta |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Dinesh Nandan Jain |
|
Designation : |
Secretary |
|
Address : |
70, F – 26, Sector 7, Rohini, New |
|
Date of Birth/Age : |
03.04.1954 |
|
Date of Appointment : |
26.12.1983 |
|
Pan No.: |
AEFPJ8401B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
Praveen Agarwal |
|
4607325 |
|
Naveen Agarwal |
|
1462500 |
|
Surabhi Tuli |
|
36000 |
|
Sumitra Agarwal |
|
99000 |
|
Sumedha Impex Private Limited, India
|
|
486000 |
|
Dinesh Nandan Jain |
|
45 |
|
Kenmore Vikas (India) Private Limited, India |
|
621630 |
|
Sanden Corporation, Japan |
|
990000 |
|
Sanden International Singapore Pte Limited, Singapore |
|
6322500 |
|
|
|
|
|
TOTAL
|
|
14625000 |
AS ON 23.07.2012
|
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] |
|
50.00 |
|
Bodies
corporate |
|
7.57 |
|
Directors
or relatives of directors |
|
42.43 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of Automotive Air Conditioning Systems. |
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Products : |
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Exports : |
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Products : |
Automotive
Air Conditioning Systems |
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Countries : |
·
Japan ·
Indore ·
Germany |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Japan ·
China ·
Korea |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Automotive Gas Compressor with Magnetic Clutch |
Nos. |
800000 |
379748 |
|
Automotive Air conditioning System/Kit
(including Part Kits) |
Nos. |
480000 |
439794 |
GENERAL INFORMATION
|
Customers : |
·
Maruti Suzuki ·
Skoda ·
Renault ·
Honda ·
GM ·
Tata ·
Fiat ·
HM ·
Denso ·
Behr ·
AMW ·
Sonalika International ·
Keihin ·
Ford ·
M and M ·
Eicher ·
Suzuki Powertrain India Limited ·
Asia Motors ·
Avtec Limited ·
PVL ·
Mahindra ·
Nissan |
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No. of Employees : |
450 [Approximately] |
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Bankers : |
Ø Mizuho Corporate
Bank Limited, 4th Floor, East Tower, Sood Tower, 25, Barakhamba
Road, New Delhi – 110001, India Ø Oriental Bank of
Commerce, 104, Old Rajinder Nagar, New Delhi – 110060, India Ø The Bank of Tokyo
Mitsubishi UFJ Limited, Jeevan Vihar Building, 3, Parliament Street, New
Delhi – 110001, India Ø
Standard
Chartered Bank, Sansad Marg, New Delhi, India Ø Kotak Mahindra Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
N. Narasimhan and Company Chartered Accountants |
|
Address : |
211-Hans Bhawan, Bahadur Shah Zafar Marg, New Delhi – 110002,
India |
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PAN No: |
AABPN5851B |
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|
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AS ON 31.03.2011: |
|
|
Joint Ventures Enterprise : |
Sanden Corporation – Japan |
|
|
|
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Enterprise having substantial interest : |
Sanden International Singapore Pte Limited |
|
|
|
|
Companies controlled or under significant influence of directors : |
·
Pranav Vikas (India) Limited ·
Ecocat India Private Limited ·
Borgwarner Vikas Emission Systems India Private
Limited ·
Kenmore Vikas (India) Private Limited ·
Gallay India Private Limited ·
Autovikas Sales and Service Private Limited ·
Dayco Vikas Engine Systems Private Limited ·
Sata Vikas India Limited ·
RPS Vikas Castings Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22000000 |
Equity Shares |
Rs.10/- each |
Rs.220.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14625000 |
Equity Shares |
Rs.10/- each
|
Rs.146.250
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 |
146.250 |
146.250 |
146.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
157.861 |
163.670 |
182.309 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
304.111 |
309.920 |
328.559 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
741.328 |
466.407 |
454.846 |
|
|
2] Unsecured Loans |
600.387 |
566.546 |
703.795 |
|
|
TOTAL BORROWING |
1341.715 |
1032.953 |
1158.641 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
3.190 |
|
|
|
|
|
|
|
|
TOTAL |
1645.826 |
1342.873 |
1490.390 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1219.237 |
1226.705 |
1188.746 |
|
|
Capital work-in-progress |
257.805 |
4.893 |
27.120 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
73.183 |
17.137 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
902.128
|
717.218 |
561.472
|
|
|
Sundry Debtors |
536.148
|
509.206 |
379.411
|
|
|
Cash & Bank Balances |
6.167
|
17.461 |
30.952
|
|
|
Other Current Assets |
0.643
|
0.751 |
0.000
|
|
|
Loans & Advances |
334.799
|
201.445 |
165.020
|
|
Total
Current Assets |
1779.885
|
1446.081 |
1136.855 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1428.508
|
1116.450 |
785.214
|
|
|
Other Current Liabilities |
248.414
|
229.641 |
58.253
|
|
|
Provisions |
7.362
|
5.852 |
19.722
|
|
Total
Current Liabilities |
1684.284
|
1351.943 |
863.189 |
|
|
Net Current Assets |
95.601
|
94.138 |
273.666
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.858 |
|
|
|
|
|
|
|
|
TOTAL |
1645.826 |
1342.873 |
1490.390 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5253.085 |
4859.816 |
4053.028 |
|
|
|
Other Income |
21.941 |
22.221 |
104.739 |
|
|
|
TOTAL (A) |
5275.026 |
4882.037 |
4157.767 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4115.733 |
3814.977 |
|
|
|
|
Purchases of stock-in-trade |
432.457 |
443.374 |
|
|
|
|
Employee benefit expense |
227.282 |
193.795 |
|
|
|
|
Other expenses |
306.935 |
268.447 |
3900.218 |
|
|
|
Prior Period
Items |
0.118 |
0.349 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(48.346) |
18.302 |
|
|
|
|
TOTAL (B) |
5034.179 |
4739.244 |
3900.218 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
240.847 |
142.793 |
257.549 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
216.383 |
94.706 |
65.649 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24.464 |
48.087 |
191.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
94.257 |
87.403 |
79.868 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(69.793) |
(39.316) |
112.032 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(63.984) |
(20.677) |
39.966 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(5.809) |
(18.639) |
72.066 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
155.256 |
83.190 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
136.617 |
155.256 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
3.787 |
8.882 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Materials/Components/ Consumables |
NA |
2102.880 |
2169.435 |
|
|
|
Purchases of Traded Goods |
NA |
443.374 |
871.048 |
|
|
|
Plant and Machinery including transit |
NA |
24.082 |
76.197 |
|
|
TOTAL IMPORTS |
NA |
2570.336 |
3116.680 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.40) |
(1.27) |
4.93 |
|
%20LIMITED%20-%20218557%202%20%5bSUPPLEMENTARY%20REPORT%5d%2025-Apr-2013_files/image001.gif){kind=small}
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
6100.000 |
Expected Sales (2013-2014): Rs. 7500.000 Millions
The above information has been parted by Mr. Rajesh Gupta [Accounts
Manager]
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.11)
|
(0.38) |
1.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.33)
|
(0.81) |
2.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.91)
|
(1.47) |
4.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.23)
|
(0.13) |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.41
|
3.33 |
3.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.07 |
1.32 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last four years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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] |
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 |
No |
BUSINESS OPERATIONS:
Despite slowdown
in the economy and the industry in particular, the Company could improve its
revenues during
2011-12. The Company
achieved total revenue of Rs. 5275.030 millions during the year against Rs.
4882.030 millions during the previous year with a growth of 8.05%. Though, the
Company improved at the IBITDA level, which improved from Rs. 142.790 millions
in the previous year to Rs 240.860 millions, the Company ended up with a net
loss on account of higher finance cost and exchange fluctuation loss. Though
there are concerns in the economic situation and the industry continues to be
under pressure with little or no growth, your company has shown significant
improvement in its sales turnover during April 2011 to June 2012. The Company
has been able to localize compressor, which will help in improvement on the
bottom line of the Company. The installation of STR compressor line assembly
has been completed and with this, the company will have the manufacturing
capability for all the three compressors in India viz. Fixed Displacement,
Variable Displacement and Scroll Technology Compressor.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Technical
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Electrical Fittings (R and D)
·
Computers (R and D)
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.54.30 |
|
|
1 |
Rs.82.87 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.