MIRA
INFORM REPORT
|
Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
LENZE MECHATRONICS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 46A, Sector 10, PCNTDA Industrial Area, Bhosari, Pune-411026,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
21.09.2005 |
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Com. Reg. No.: |
11-134899 |
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Capital
Investment / Paid-up Capital : |
Rs.49.982
Millions |
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CIN No.: [Company Identification
No.] |
U34101PN2005PTC134899 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Automation Products. |
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No. of Employees
: |
32 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 480000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Lenze SE, Germany”. It is a well established
company having satisfactory track record. Mr. Anand Kolhatkar, Senior Finance
Manager has provided all details of the subject to us. There appears some dip in the sales turnover and profitability of the
company during 2012. However, financial position of the company appears to be good. It
receives better financial support from its parent company. Trade relations are reported as decent. Business is active. Payment
terms are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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. Anand Kolhatkar |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-9923102797 |
|
Date : |
12.01.2013 |
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No. 46A, Sector 10, PCNTDA Industrial Area, Bhosari, Pune-411026,
Maharashtra, India |
|
Tel. No.: |
91-20-66318100 |
|
Mobile No.: |
91-9923102797 [Mr. Anand Kolhatkar] |
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Fax No.: |
91-20-66318120 |
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E-Mail : |
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Website : |
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Area : |
8600 sq. ft. |
|
Location : |
Rented |
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Factory 2 : |
Located at Wagholi, Pune, Maharashtra, India |
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|
Sales Office : |
101, Padma Tower II, 22, Rajendra Place, New Delhi-110008, India |
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Tel. No.: |
91-11-45062113 |
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Fax No.: |
91-11-45062115 |
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|
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Sales Office : |
Also Located At:
·
Kolkata ·
Ahmedabad ·
Bangalore |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Nandi Gopal Chandra Debasis |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 7, Raja Apartment, 390 Dakhindari Road, Sribhumi,
Kolkata-700048, West Bengal, India |
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Date of Birth/Age : |
26.09.1960 |
|
Date of Appointment : |
19.09.2005 |
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Din No.: |
01203957 |
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|
Name : |
Cord Thomas |
|
Designation : |
Director |
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Address : |
Bronnbacher Strasse 12, Marktheidenfeld, 97828, Germany |
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Date of Birth/Age : |
10.04.1965 |
|
Date of Appointment : |
19.05.2010 |
|
Din No.: |
03025889 |
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|
|
|
Name : |
Frank Kurt Heinz Schluter |
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Designation : |
Director |
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Address : |
Caprivistr 8, Osnabruck, 49076, Germany |
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Date of Birth/Age : |
22.01.1964 |
|
Date of Appointment : |
13.02.2009 |
|
Din No.: |
02504866 |
KEY EXECUTIVES
|
Name : |
Mr. Anand Kolhatkar |
|
Designation : |
Senior Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Shareholders |
No. of
Preferences Shares |
No. of Equity
Shares |
|
Lenze S.E., Aerzen, Germany |
|
3201940 |
|
Lenze GMBH, Aerzen, Germany |
|
1 |
|
Lenze S.E., Aerzen, Germany |
26763 |
-- |
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|
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|
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TOTAL
|
26763 |
3201941 |
AS ON 25.09.2012
|
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] |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Automation Products. |
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Products : |
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Exports : |
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Products : |
Automation Products |
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Countries : |
Asian Country |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users ·
Laxmi Machinery World |
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No. of Employees : |
32 [Approximately] |
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Bankers : |
·
ICICI Bank Limited ·
HDFC Bank Limited ·
HSBC Bank, Bundgarden Branch |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castle Maine, Near Ruby Hall Clinic,
Bund Garden Road, Pune-411001, Maharashtra, India |
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Tel. No.: |
91-20-30585764/30585785 |
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Fax No.: |
91-20-30585775 |
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PAN No: |
AAIFB7355D |
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Holding Company : |
Lenze Se, Germany [Formerly known as Lenze Ag, Germany] [Holds 100% of
the equity shares capital as at 31st March 2012] |
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Fellow Subsidiaries : |
·
Lenze Operations GmbH, Germany ·
Lenze AC Technology Corporation, USA ·
Lenze Service GmbH, Germany ·
Lenze Drive Systems (Shanghai) Company Limited,
China ·
Lenze Automation GmbH, Germany ·
Lenze B.V. Aandrijfteehniek, The Netherlands ·
Lenze Drive Systems France SARI, France ·
Lenze GmbH and Company KG. Kleinantriebe, Germany
·
Lenze Mechatronics Drives (Shanghai) Company
Limited, China ·
Lenze Drives Systems GmbH, Germany ·
Bhn Dienstleistungs GmbH and Company KG., Germany
·
Lenze Operations Austria GmbH, Austria ·
Lenze S.E.A. (Malaysia) ·
Lenze Bachofen GmbH |
CAPITAL STRUCTURE
AS ON 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5490000 |
Equity Shares |
Rs.10/- each |
Rs.54.900 Millions |
|
30100 |
Preferences Shares |
Rs.1000/- each |
Rs.30.100 Millions |
|
|
TOTAL
|
|
Rs.85.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3201941 |
Equity Shares |
Rs.10/- each |
Rs.32.019
Millions |
|
26763 |
Preferences Shares |
Rs.1000/- each |
Rs.26.763
Millions |
|
|
TOTAL |
|
Rs.58.782 Millions |
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5490000 |
Equity Shares |
Rs.10/- each |
Rs.54.900 Millions |
|
30100 |
Preferences Shares |
Rs.1000/- each |
Rs.30.100 Millions |
|
|
TOTAL
|
|
Rs.85.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2321941 |
Equity Shares |
Rs.10/- each |
Rs.23.219
Millions |
|
26763 |
Preferences Shares |
Rs.1000/- each |
Rs.26.763
Millions |
|
|
TOTAL |
|
Rs.49.982 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 |
49.982 |
49.982 |
49.982 |
|
|
2] Share Application Money |
30.800 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
39.647 |
23.629 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(6.973) |
|
|
NETWORTH |
120.429 |
73.611 |
43.009 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.215 |
0.177 |
0.975 |
|
|
2] Unsecured Loans |
22.750 |
22.750 |
23.787 |
|
|
TOTAL BORROWING |
23.965 |
22.927 |
24.762 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
144.394 |
96.538 |
67.771 |
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APPLICATION OF FUNDS |
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|
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|
|
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|
FIXED ASSETS [Net Block] |
9.569 |
8.848 |
11.168 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
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|
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|
|
INVESTMENT |
0.956 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.987 |
1.602 |
0.998 |
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
84.330
|
59.912 |
52.641 |
|
|
Sundry Debtors |
57.587
|
51.024 |
36.181 |
|
|
Cash & Bank Balances |
44.099
|
23.357 |
8.385 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
31.349
|
24.935 |
20.190 |
|
Total
Current Assets |
217.365
|
159.228 |
117.397 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
59.063
|
43.717 |
58.463 |
|
|
Other Current Liabilities |
20.361
|
16.007 |
2.234 |
|
|
Provisions |
6.059
|
13.416 |
1.095 |
|
Total
Current Liabilities |
85.483
|
73.140 |
61.792 |
|
|
Net Current Assets |
131.882
|
86.088 |
55.605 |
|
|
|
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|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
144.394 |
96.538 |
67.771 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
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TOTAL |
318.522 |
337.699 |
231.525 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
293.288 |
291.549 |
223.461 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
25.234 |
46.150 |
8.064 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.216 |
15.548 |
(0.258) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
16.018 |
30.602 |
8.322 |
|
|
|
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|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
3.802 |
11.269 |
6.272 |
|
|
|
Commission Earnings |
16.731 |
25.211 |
11.084 |
|
|
|
Service Income |
1.323 |
0.890 |
0.900 |
|
|
TOTAL EARNINGS |
21.856 |
37.370 |
18.256 |
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
212.081 |
203.810 |
147.395 |
|
|
|
Capital Goods |
0.109 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
212.190 |
203.810 |
147.395 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.38 |
12.66 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.03
|
9.06 |
3.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.12
|
27.45 |
6.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.63 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.91
|
1.31 |
2.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.54
|
2.17 |
1.90 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
59.063
|
43.717 |
58.463 |
|
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 |
Yes |
|
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 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 |
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 |
BACKGROUND:
Subject was incorporated on 21st
September 2005 as a wholly owned subsidiary of Lenze Se (Formerly Lenze AG, the
holding company) incorporated in Germany. The company has prepared its seventh
annual accounts for the year ended 31st March 2012.
Its major business activities include
manufacturing and assembling of automation parts, power electronics,
converters, inverters, geared motors, geared boxes, encoders, HMI (Human
Machine Interface), electronic automation and mechanical accessories. It also
provides installation and after sales support for its products.
The company’s manufacturing assembling plants
are located at Bhosari and Wagholi in Pune and it has sales office in New
Delhi, Kolkata, Ahmedabad and Bangalore.
OPERATIONS:
This year was a
year of consolidation for them. Since they had very big increase in sales and
EBIT in last FY 10-11 and FY11-12 was to solidify that base. Market condition
being very bad they shall like to hold on to existing business with a maximum
growth plan of 8% in sales and overall 3.5% EBT. Financial Year 2012-2013 will
in general have recession in India excepting last quarter where Economy may
turn back towards better side.
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|||||||||
|
Debenture 22750 (2011: 22750) 4.5% fully convertible debentures |
22.750 |
22.750 |
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|
TOTAL
|
22.750 |
22.750 |
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|
NOTE: 22750, 4.5% fully convertible debenture of
Rs.1000 each convertible into equity shares of Rs.10 each in the ratio of
1:100 upon the expiry of 60 months from the date of allotment, the dates of
allotment being as follows:
|
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FIXED ASSETS:
·
Leasehold Improvements
·
Furniture and Fixtures
·
Plant and Machinery
·
Computers
·
Vehicles
PRESS RELEASE:
LENZE MECHATRONICS INDIA WINS AMPOULE FILLING MACHINE BUSINESS DUE TO
SUPERIOR DYNAMIC PERFORMANCE OF LENZE SMVECTOR DRIVE
28.03.2011
The small size,
ease of operation and commissioning, and exceptional dynamic performance of
Lenze's small SMVector drive has enabled Lenze Mechatronics Private Limited, in
India to beat off fierce OEM competition and secure what is probably the most
specialized application for the SMV: Ampoule Filling machines.
The SMV has
replaced a competitive inverter on the ampoule filling machines, and has been
adopted as standard fitment, following an in depth evaluation that highlighted
the many beneficial features of the Lenze inverter. "The technical
benefits we are able to offer with the SMVector were crucial to our winning
this OEM business," commented Saurav Bose, Deputy Manager Sales and
Support for Lenze Mechatronics Private Limited
"The fast
dynamic characteristics and 200% shock load absorbing capability of the SMV
were the most important factors, but ease of commissioning and troubleshooting
were not far behind. The customer also liked the relatively smaller envelope of
the SMV, which eliminates space problems in instances where drives need to be
replaced on existing machines."
The ampoule
machines each have eight heads; they are driven via a single inverter-
controlled 1-HP, 4Pole motor, complete with worm gear reducer. Overall control
of the filling sequence is provided via a PLC, and an HMI is also included for
local control and monitoring.
The excellent low
speed characteristics of the SMVector are crucial to effective operation of the
machine, in guaranteeing smooth starting of the single-horsepower electric
motor without jerking. Failure to ensure this could cause serious harm to the
equipment. In addition, variation of load on the ampoule filler is high, and
sometimes the m/c stops in such a position that, upon restart, it faces a huge
temporary overload. Here again, the SMV provides an affective solution with its
200% shock load absorbing capability.
The IP31 version
of the SMVector supplied by Lenze Mechatronics India is designed specifically
to provide significant cost reductions in both retro-fit and OEM applications.
It offers fast dynamic torque response, sophisticated auto-tuning and
impressive low speed operation from a compact, low cost and easy to use
package. Developed for small motor applications, the drive is ideal for
applications such as HVAC systems and conveyors, food production and packaging
lines.
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.54.64 |
|
|
1 |
Rs.88.17 |
|
Euro |
1 |
Rs.73.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
48 |
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.