MIRA
INFORM REPORT
|
Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
VOLKSWAGEN GROUP SALES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Silver Utopia, 3rd and 4th Floor, Cardinal Gracious
Road, Chakala, Andheri (East), Mumbai – 400099, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-168439 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2042.240 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50401MH2007FTC168439 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14548C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV4413F |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business
: |
The Company engaged in the business of Selling, Distributing,
Exporting and Marketing Automotive Vehicles and Related Parts, Components and
Accessories. |
|
|
|
|
No. of Employees
: |
Information declined by management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 14000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of ‘Volkswagen International Finance N.V.,
Netherlands’. It is a well-established company having a good track record. It is the sales and marketing arm for Volkswagen and Audi brands. It
undertakes sales promotion, dealer identification and dealer development for
these brands. The subject will continue to receive operational and financial support
from its parent company. Trade relations are reported as decent. Business is active. Payment
terms are reported as regular and as per commitment. In view of strong holdings the company can be considered normal for
business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
31.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
short term rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and low credit risk. |
|
Date |
31.10.2013 |
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.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-22-33137000)
LOCATIONS
|
Registered Office : |
Silver Utopia, 3rd and 4th Floor, Cardinal
Gracious Road, Chakala, Andheri (East), Mumbai – 400099, Maharashtra, India |
|
Tel. No.: |
91-22-40547000 |
|
Fax No.: |
91-22-40547100 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Gerasimos Dorizas |
|
Designation : |
Managing Director |
|
Address : |
Athina Hellas, Greece 14600 |
|
Date of Birth/Age : |
09.02.1961 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06409224 |
|
PAN No.: |
BLWPD4536J |
|
|
|
|
Name : |
Mr. Arvind Kumar Saxena |
|
Designation : |
Director |
|
Address : |
1504, Tower – 2, The palms South City – I, Gurgaon – 122001, Haryana,
India |
|
Date of Birth/Age : |
28.09.1959 |
|
Date of Appointment : |
24.12.2012 |
|
DIN No.: |
02910083 |
|
PAN No.: |
AAKPS9010L |
|
|
|
|
Name : |
Dietmar Hildebrandt |
|
Designation : |
Director |
|
Address : |
Fasanesstrasses 3, O-38102, Braunschewig – 38102, Germany |
|
Date of Birth/Age : |
29.09.1958 |
|
Date of Appointment : |
27.09.2011 |
|
DIN No.: |
03298934 |
|
|
|
|
Name : |
Mr. Anil Vodur Reddi |
|
Designation : |
Director |
|
Address : |
Flat No.101, 1st Floor, Ferndale Building, Plot No.226, 12th
Road, Khar (West), Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
28.04.1972 |
|
Date of Appointment : |
24.12.2012 |
|
DIN No.: |
05139208 |
|
PAN No.: |
ABVPV7192C |
|
|
|
|
Name : |
Mr. Nalin Nirmal Jain |
|
Designation : |
Director |
|
Address : |
302, Suman, Play Ground Road, Vile Parle East, Mumbai – 400057,
Maharashtra, India |
|
Date of Birth/Age : |
10.02.1972 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06527476 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Somnath Kamath |
|
Designation : |
Secretary |
|
Address : |
Room No. 1, Dubhash Building, Gokhale Road, Dadar, Mumbai – 400028,
Maharashtra, India |
|
Date of Birth/Age : |
04.07.1976 |
|
Date of Appointment : |
01.07.2008 |
|
PAN No.: |
AKSPK6665R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Equity
Shares |
|
|
|
|
|
Volkswagen International Finance N.V., Netherlands |
|
18419737 |
|
Volkswagen A.G., Germany |
|
1 |
|
|
|
|
|
Total |
|
18419738 |
|
|
||
|
Names of
Shareholders |
|
No.
of Preference Shares |
|
|
|
|
|
Volkswagen A.G., Germany |
|
185804330 |
|
|
|
|
|
Total |
|
185804330 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
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 : |
The Company engaged in business of Selling, Distributing, Exporting
and Marketing Automotive Vehicles and Related Parts, Components and
Accessories. |
||||
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|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management
|
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252 Veer
Sarvarkar Marg, Shivaji Park, Dadar (West), Mumbai – 400028, Maharashtra,
India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFP3641G |
|
|
|
|
Holding Company
: |
· Volkswagen International Finance N.V., Netherlands |
|
|
|
|
Ultimate Holding
Company : |
· Porsche Automobile Holding SE |
|
|
|
|
Company which
indirectly controls the entity through an intermediary : |
· Volkswagen AG, Germany and Global Automobile C.V |
|
|
|
|
Fellow
Subsidiary Companies : |
·
Skoda Auto India Private Limited , India CIN: U34100MH1999PTC123254 ·
Volkswagen Finance Private Limited, India CIN: U65999MH2009FTC189640 ·
Audi AG, Germany ·
Audi Vertriebetreuungsgesellschaf ·
Skoda Auto A.S., Czech Republic ·
Audi Quattro GMBH, Germany ·
Volkswagen of South Africa Pty Limited, South
Africa ·
Porsche Lizenz-Und Handelsges GMBH, Germany ·
Volkswagen Group United Kingdom Limited, United
Kingdom ·
Volkswagen Coaching GMBH, Germany ·
Volkswagen de Mexico, S.A. de C.V, Mexico ·
Volkswagen India Private Limited, India ·
CIN: U70102PN2007FTC133117 ·
Group Volkswagen France SA ·
Volkswagen Logistics GMBH, Germany ·
Porsche Middle East and Africa FZE ·
Volkswagen Commercial Vehicles, Germany ·
Automobili Lambhorgini S.p.A., Span ·
Audi Akademie Gmbh, Germany ·
Volkswagen Zubehor Gmbh, Germany ·
Volkswagen Procurement Services Gmbh, Germany ·
Audi VG mbh, Germany ·
Volkswagen Group Japan, Japan |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18419738 |
Equity Shares |
Rs.10/- each |
Rs.184.197 Millions |
|
185804330 |
Preference Shares |
Rs.10/- each |
Rs.1858.043 Millions |
|
|
Total |
|
Rs.2042.241
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18419738 |
Equity Shares |
Rs.10/- each |
Rs.184.197 Millions |
|
185804330 |
Preference Shares |
Rs.10/- each |
Rs.1858.043 Millions |
|
|
Total |
|
Rs.2042.240
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 |
2042.240 |
2042.240 |
2042.240 |
|
(b) Reserves & Surplus |
1402.990 |
771.130 |
178.750 |
|
(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) |
3445.230 |
2813.370 |
2220.990 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
899.250 |
959.050 |
547.870 |
|
Total Non-current Liabilities (3) |
899.250 |
959.050 |
547.870 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6480.790 |
5226.680 |
1048.720 |
|
(b) Trade payables |
9666.010 |
6879.120 |
7617.080 |
|
(c) Other current
liabilities |
697.650 |
786.260 |
728.340 |
|
(d) Short-term provisions |
822.530 |
454.830 |
519.610 |
|
Total Current Liabilities (4) |
17666.980 |
13346.890 |
9913.750 |
|
|
|
|
|
|
TOTAL |
22011.460 |
17119.310 |
12682.610 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1128.660 |
663.240 |
630.370 |
|
(ii) Intangible Assets |
167.370 |
35.490 |
12.870 |
|
(iii) Capital
work-in-progress |
291.930 |
84.250 |
18.470 |
|
(iv)
Intangible assets under development |
79.230 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
276.270 |
225.560 |
435.970 |
|
(d) Long-term Loan and Advances |
2002.590 |
1522.740 |
2867.930 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3946.050 |
2531.280 |
3965.610 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3982.780 |
1399.950 |
3537.020 |
|
(c) Trade receivables |
6215.100 |
8647.620 |
4492.420 |
|
(d) Cash and cash
equivalents |
502.880 |
34.590 |
4.850 |
|
(e) Short-term loans and
advances |
3202.270 |
2913.190 |
177.260 |
|
(f) Other current assets |
4162.380 |
1592.680 |
505.450 |
|
Total Current Assets |
18065.410 |
14588.030 |
8717.000 |
|
|
|
|
|
|
TOTAL |
22011.460 |
17119.310 |
12682.610 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
87806.529 |
82374.024 |
46207.212 |
|
|
|
Other Income |
1029.944 |
885.240 |
301.187 |
|
|
|
TOTAL |
88836.473 |
83259.264 |
46508.399 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Traded Goods |
|
|
|
|
|
|
Personnel Cost |
|
|
|
|
|
|
Administration and other expenses |
|
|
|
|
|
|
Selling and Distribution expenses |
|
|
|
|
|
|
TOTAL |
87001.242 |
81950.503 |
44918.766 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
INTEREST, TAX, DEPRECIATION |
1835.231 |
1308.761 |
1589.633 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST, TAX,
DEPRECIATION |
906.077 |
674.509 |
295.435 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
929.154 |
634.252 |
1294.198 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
297.302 |
41.875 |
228.552 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
631.852 |
592.377 |
1065.646 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.09 |
32.16 |
57.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.71
|
0.71 |
2.29 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.06
|
0.77 |
2.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.35
|
3.46 |
10.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.23 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.88
|
1.86 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
1.09 |
0.88 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
OPERATIONS
During the year,
the Company has made a net profit of Rs. 631,851,570/- (Rupees Six hundred
thirty one million, eight hundred fifty one thousand, five hundred seventy
only) after tax.
MARKET / BUSINESS
OVERVIEW
During the period
ended March 31, 2013, the Company has sold 65,351 Volkswagen Passenger
Vehicles, 9,495 Audi Vehicles, 475 Porsche Vehicles, 11 Lamborghini Vehicles
and 140 Used Cars as a result of which the company could achieve sales revenue
of Rs. 8806.503 Millions (Rupees Eighty Seven Thousand Eight Hundred and Six
point Fifty Three Millions only), this includes turnover of spare parts,
accessories, transport cost recovery and tools. The company is optimistic of
achieving higher sales figures in the forthcoming year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
1540.790 |
2336.680 |
|
Loans and advances from others |
4940.000 |
2890.000 |
|
Total |
6480.790 |
5226.680 |
CONTINGENT LIABILITIES
(Rs.
In Millions)
|
Particulars |
31.03.2013 |
|
Claims against the Company not acknowledged as debts (to the extent
not provided for) |
|
|
Income-tax matters |
33.520 |
FIXED ASSETS
v
Tangible Assets
·
Computer equipment’s
·
Office Equipment’s
·
Furniture and Fixtures
·
Leasehold improvements
·
Vehicles
v
Intangible Assets
·
Computer Software
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.61.33 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.84.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.