MIRA
INFORM REPORT
|
Report Date : |
06.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
NISSAN MOTOR INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.1A, SIPCOT Industrial Area, Orgadam, Mattur Post, Sriperumpudur
– 602 105, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.20113 |
|
|
|
|
Date of
Incorporation : |
07.02.2005 |
|
|
|
|
Com. Reg. No.: |
18-073897 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10300.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34100TN2005PTC073897 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN12286B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN0695D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer,
Purchaser and Seller of Motor Vehicles and Related Spare Parts and
Accessories. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 21000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Nissan International Holding BV,
Netherlands. It is well established company having satisfactory track record. There
appear some accumulated losses recorded by the company. However the company
has achieved a decent profits during current year. The company also receives
good support from its group company. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. In view of strong holding the company can be considered normal for
business dealings at usual trade terms and conditions, |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International Finance
Corporation expects to come out with its rupee linked bonds issue before the
end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs
41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched
in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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 : |
Plot No.1A, SIPCOT Industrial Area, Orgadam, Mattur Post,
Sriperumpudur – 602 105, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
|
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
No 37/38, Asv Ramana Towers, 3rd Floor, Opposite H P Petrol Pump and
Opposite Way to Devar Statue, Venkatanarayana Road T Negar, Chennai – 600017,
Tamilnadu, India |
DIRECTORS
As on 30.09.2012
|
Name : |
Yomura Kenichiro |
|
Designation : |
Managing Director |
|
Address : |
Somerset Greenwys Chennai Private Limited, No.94, Sathyadev Avenue,
MRC Nagar, Chennai – 600028, Tamilnadu, India |
|
Date of Birth/Age : |
30.03.1960 |
|
Date of Appointment : |
14.06.2013 |
|
|
|
|
Name : |
Hideo Niwa |
|
Designation : |
Director |
|
Address : |
Dal 2 Kikyou
building 202,2-1-1 Kodai , Miyamae-ku, Kawasaki-City, |
|
Date of Birth/Age : |
22.04.1967 |
|
Date of Appointment : |
03.03.2005 |
|
DIN No.: |
01549638 |
KEY EXECUTIVES
|
Name : |
Mr. G Jonson Durai Singh |
|
Designation : |
Secretary |
|
Address : |
58 B, AIBEA Nagar, Near RTO Office, Thriuranmiyur, Chennai – 600041,
Tamilnadu, India |
|
Date of Birth/Age : |
24.07.1977 |
|
Date of Appointment : |
22.02.2013 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Nissan Asia Pacific Private Limited, Singapore |
|
10000 |
|
Nissan International Holding B.V., The Netherlands |
|
1029990000 |
|
Total |
|
1030000000 |
As on 30.09.2012
Equity Share Break up (Percentage of Total Equity)
|
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 : |
Manufacturer, Purchaser and Seller of Motor Vehicles and
Related Spare Parts and Accessories. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
|
|
Tel. No.: |
91-44-66328400 |
|
Fax No.: |
91-44-24311450 |
|
PAN No.: |
AABFS3412N |
|
|
|
|
Ultimate holding
Company : |
Nissan Motor Company Limited, Japan ('NML, Japan') |
|
|
|
|
Holding Company |
Nissan International Holdings B.V. Netherlands |
|
|
|
|
Enterprises that
directly, or indirectly through one or more intermediaries, control, or are
controlled by, or are under common control |
· Nissan Trading Company Limited, Japan ('NITCO') · Nissan Motor Car Carrier Company Limited · Renault Nissan Technology and Business Centre India Private Limited (RNTBCI) · Nissan Powertrain (Thailand) Company Limited · Nissan Europe S.A.S. · Nissan Middle East FZE · Nissan International S.A.(‘NISA’) · Nissan South Africa (PTY) Limited · Nissan Motor (Thailand) Company Limited · Nissan Mexicana S.A. DEC.V. · Renault S.A.S · Renault Nissan Automotive India Private Limited (‘RNAIPL’) · Nissan Motor Iberica, S.A. · Nissan Shanghai Company Limited · Nissan China Investment Company Limited · Nissan Motor Manufacturing (UK) Limited · Nissan Trading China Company Limited · Ashok Leyland Nissan Vehicles Limited · Nissan Trading Europe Limited · Nissan Trading India Private Limited. · PT. Nissan Motor Indonesia · SIAM Nissan Automobile Company Limited · Nissan Technical Center Europe · Nitco Siam Company Limited · Yulon Motors Company Limited · Nissan Center Europe , GMBH · Nissan Nordic Europe OY · Nissan Motor Indonesia · Renault Sandouville SNC · Renault India Private Limited · Nissan North America, Inc. · Dongfeng Nissan Engine branch Co. · Dongfeng Nissan PV · Company · Guangzhou DFS enterprise Limited · Nissan Trading · Corporation Americas · Nissan Carrier Europe B. V. · Nissan Motor ( GB) Limited · Nissan Trading Europe Limited · Nissan DO Brasil Automoiveis Ltda., · Nissan Motor Phils.,Inc · Nissan Motor Co. (Australia) Pty. Limited · Nissan Motor Asia Pacific Co., Limited · Nissan Import Egypt, Limited · Nissan Marketing & Distribution Egypt S.A.E. · Nissan Ashok Leyland Technologies Limited · Nissan Motor Egypt S.A.E · Nissan Creative Service Co., Limited ·
Nissan New Zealand Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1030000000 |
Equity Shares |
Rs.10/- each |
Rs.10300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1030000000 |
Equity Shares |
Rs.10/- each |
Rs.10300.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10300.000 |
10300.000 |
10300.000 |
|
(b) Reserves & Surplus |
(4949.230) |
(8067.440) |
(3399.490) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
5350.770 |
2232.560 |
6900.510 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3442.690 |
2811.260 |
1860.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
536.800 |
711.410 |
1.530 |
|
Total Non-current Liabilities (3) |
3979.490 |
3522.670 |
1861.530 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
12635.700 |
15853.870 |
14720.470 |
|
(c) Other current
liabilities |
18573.790 |
20314.560 |
12278.400 |
|
(d) Short-term provisions |
1474.370 |
175.470 |
335.920 |
|
Total Current Liabilities (4) |
32683.860 |
36343.900 |
27334.790 |
|
|
|
|
|
|
TOTAL |
42014.120 |
42099.130 |
36096.830 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4660.880 |
10502.760 |
9511.810 |
|
(ii) Intangible Assets |
6.670 |
22.030 |
35.180 |
|
(iii) Capital
work-in-progress |
447.530 |
343.780 |
1453.490 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5192.830 |
2353.000 |
945.910 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
10307.910 |
13221.570 |
11946.390 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3088.640 |
6914.690 |
9273.300 |
|
(c) Trade receivables |
6438.620 |
9151.910 |
5966.070 |
|
(d) Cash and cash
equivalents |
1670.220 |
3734.690 |
1871.520 |
|
(e) Short-term loans and
advances |
15266.990 |
9074.030 |
7035.800 |
|
(f) Other current assets |
5241.740 |
2.240 |
3.750 |
|
Total Current Assets |
31706.210 |
28877.560 |
24150.440 |
|
|
|
|
|
|
TOTAL |
42014.120 |
42099.130 |
36096.830 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
93040.210 |
|
38064.840 |
|
|
|
Other Income |
5144.820 |
2501.160 |
|
|
|
|
TOTAL |
98185.030 |
77266.840 |
38064.840 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
93789.870 |
80117.130 |
39538.150 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
93789.870 |
80117.130 |
39538.150 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4395.160 |
(2850.290) |
(1473.310) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
280.680 |
204.440 |
48.260 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST INCOME |
(582.180) |
(95.020) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4696.660 |
(2959.710) |
(1521.570) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1517.650 |
1708.240 |
1268.440 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
3179.010 |
(4667.950) |
(2790.010) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
60.800 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
3118.210 |
(4667.950) |
(2790.010) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports sales on F.O.B basis (including freight revenue) |
65913.870 |
56241.050 |
NA |
|
|
TOTAL EARNINGS |
65913.870 |
56241.050 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
20116.640 |
NA |
|
|
|
Trade Goods |
356.050 |
2816.260 |
NA |
|
|
|
Capital Goods |
683.090 |
360.150 |
NA |
|
|
TOTAL IMPORTS |
1039.140 |
23293.050 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.27 |
4.53 |
(2.71) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.18
|
(6.04) |
(7.33) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.42
|
(6.24) |
(7.33) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.65
|
(11.18) |
(8.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.59
|
(2.09) |
(0.40) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.64
|
1.26 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97
|
0.79 |
0.88 |
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 |
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 |
Note:
The registered office of the company has been shifted from 10th
Floor, Godrej Coliseum, Somaiya Hospital Road, Opposite Eastern Express Highway,
Sion (East), Mumbai – 400 022, Maharashtra to the present address w.e.f.
26.11.2009.
BACKGROUND AND
CORPORATE INFORMATION
Subject was incorporated on February 7, 2005. The Company was engaged in manufacturing operations at the vehicle manufacturing plant in Chennai until the previous year. Pursuant to certain internal restructuring exercise within Renault and Nissan group, effective from April 10, 2012, the Company has discontinued its manufacturing operations and is engaged in the purchase and sale of motor vehicles, spare parts in India and export of vehicle components to its group Companies.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Foreign currency term loans from others |
3442.690 |
2811.260 |
|
Total |
3442.690 |
2811.260 |
|
|
|
|
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Plant and Machinery
· Office Equipments
· Factory Equipments
· Computer and Other Peripherals
· Furniture and Fixtures
· Motor Vehicles
· Leasehold Improvements
· Other Fixed Assets
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.61.69 |
|
|
1 |
Rs.101.08 |
|
Euro |
1 |
Rs.84.07 |
INFORMATION DETAILS
|
Report Prepared by
: |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.