MIRA
INFORM REPORT
|
Report Date : |
12.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PILKINGTON AUTOMOTIVE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.8, Non SEZ of APIIC, Atchuthapuram Mandal, Visakhapatnam-531011,
Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.07.2006 |
|
|
|
|
Com. Reg. No.: |
11-050591 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.580.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300AP2006PTC050591 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
VPNP00905C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP9788Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacture of laminated wind screens for Automotive Sector. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 450000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appears huge accumulated losses recorded by the company. The external borrowing
seems to be huge. However, trade relations are fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealings with great
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 – 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 |
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 DENIED BY
|
Name : |
Mr. Thejomurthy Ponnaluri |
|
Designation : |
Purchase Department |
|
Contact No.: |
91-9963496661 |
|
Date : |
11.07.2013 |
LOCATIONS
|
Registered Office / Factory : |
Plot No.8, Non SEZ of APIIC, Atchuthapuram Mandal,
Visakhapatnam-531011, Andhra Pradesh, India |
|
Tel. No.: |
91-8924-282100/ 109 |
|
Mobile No.: |
91-9963496661 (Mr. Thejomurthy Ponnaluri) |
|
Fax No.: |
91-8924-282101 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 30.09.2010
|
Name : |
Mr. Dale Nelson Vermilya |
|
Designation : |
Director |
|
Address : |
4402, Dovewood Lane, Sylvania, Ohio, United State of America-43590 |
|
Date of Birth/Age : |
15.06.1959 |
|
Date of Appointment : |
11.07.2006 |
|
DIN No : |
00042074 |
|
|
|
|
Name : |
Mr. Stephan Joachim Rosebrock |
|
Designation : |
Director |
|
Address : |
Flat No.602, Roshan Towers, CBM Compound, Area, 6-7, Balaji Nagar,
Visakhapatnam-530002, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.09.1963 |
|
Date of Appointment : |
15.12.2006 |
|
DIN No.: |
01736014 |
|
|
|
|
Name : |
Mr. Agnes Watson Kidd |
|
Designation : |
Director |
|
Address : |
16, Dereham Road, Seaton Sluice, Whitley Bay, Tyne and Wear NE 264 BP,
United Kingdom-WA103TT |
|
Date of Birth/Age : |
01.11.1957 |
|
Date of Appointment : |
15.12.2006 |
|
DIN No : |
02442998 |
|
|
|
|
Name : |
Mr. Srinivas Rao Pubbity |
|
Designation : |
Director |
|
Address : |
10-12-9, Dharamasadan Apartment, flat No.103, Old Jail Road, Maharani Pet,
Visakhapatnam-530002, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.01.1967 |
|
Date of Appointment : |
04.03.2009 |
|
DIN No : |
02584241 |
|
|
|
|
Name : |
Mr. Surya Venkata Raja Gunisetti |
|
Designation : |
Director |
|
Address : |
39-11-58, First Lane, Murali Nagar, Visakhapatnam-530007, Andhra
Pradesh, India |
|
Date of Birth/Age : |
26.08.1972 |
|
Date of Appointment : |
04.03.2009 |
|
DIN No : |
02584272 |
KEY EXECUTIVES
|
Name : |
Mr. Thejomurthy Ponnaluri |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS
As on: 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Pilkington Italy Limited, United Kingdom |
|
57999999 |
|
Pilkington Brothers (South Wales) Limited, United Kingdom |
|
1 |
|
Total |
|
58000000 |
As on: 29.06.2012
|
Names of Allottees |
|
No. of Shares |
|
Pilkington Italy Limited, United Kingdom |
|
42000000 |
|
Total |
|
42000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2010
|
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 : |
Subject is engaged in the business of manufacture of laminated wind screens for Automotive Sector. |
|
|
|
|
Exports : |
|
|
Countries : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Countries : |
Not Divulged |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Actual
Production |
|
Windscreens |
No.s |
210,425 |
197,379 |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|
|
|
|
Customers : |
Not Divulged |
|
|
|
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
State Bank of India, Nehru Place, New Delhi, India |
|
|
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
Plot No.18 Oval Office, Ilabs Centre Software Units Layout, Hitee City, Madhapur, Hyderabad- 500 081, Andhra Pradesh, India |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Fellow Associates : |
· Pilkington Glass · India Private Limited · Pilkington · Automotive Finland · Malaysian sheet · Glass-OE · Pilkington Finance · Limited · Changchun · Pilkington Safety · Malaysian Sheet · Glass · Pilkington, North · America · Pilkington AGR UK · Pilkington · Automotive, · Deutschland, · Bochum · Pilkington Group Limited · Pilkington · Automotive(witten) · Pilkington(Aken · Plant) · Pilkington Belgium · Pilkington Italia Spa |
CAPITAL STRUCTURE
As on: 26.09.2012
Authorised Capital :
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital : Rs.1000.000
Millions
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58,000,000 |
Equity Shares |
Rs.10/- each |
Rs.580.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58,000,000 |
Equity Shares |
Rs.10/- each |
Rs.580.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
580.000 |
580.000 |
|
(b) Reserves & Surplus |
|
(466.379) |
(324.191) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
113.621 |
255.809 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
272.600 |
252.912 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
272.600 |
252.912 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
456.193 |
319.730 |
|
(b) Trade payables |
|
195.143 |
100.501 |
|
(c) Other current liabilities |
|
21.035 |
15.502 |
|
(d) Short-term provisions |
|
3.992 |
0.326 |
|
Total Current Liabilities (4) |
|
676.363 |
436.059 |
|
|
|
|
|
|
TOTAL |
|
1062.584 |
944.780 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
766.922 |
770.432 |
|
(ii) Intangible Assets |
|
7.816 |
12.587 |
|
(iii) Capital
work-in-progress |
|
0.000 |
24.657 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
4.971 |
5.038 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
779.709 |
812.714 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
142.269 |
66.770 |
|
(c) Trade receivables |
|
108.936 |
24.077 |
|
(d) Cash and cash
equivalents |
|
12.826 |
10.642 |
|
(e) Short-term loans
and advances |
|
18.422 |
30.318 |
|
(f) Other current
assets |
|
0.422 |
0.259 |
|
Total Current Assets |
|
282.875 |
132.066 |
|
|
|
|
|
|
TOTAL |
|
1062.584 |
944.780 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
580.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(186.574) |
|
|
NETWORTH |
|
|
393.426 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
478.051 |
|
|
TOTAL BORROWING |
|
|
478.051 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
871.477 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
809.129 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
INTANGIBLES ASSETS |
|
|
17.357 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
19.469
|
|
|
Sundry Debtors |
|
|
11.318
|
|
|
Cash & Bank Balances |
|
|
9.383
|
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
34.194
|
|
Total
Current Assets |
|
|
74.364 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
21.585 |
|
|
Other Current Liabilities |
|
|
7.517
|
|
|
Provisions |
|
|
0.272
|
|
Total
Current Liabilities |
|
|
29.374 |
|
|
Net Current Assets |
|
|
44.990
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
871.477 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(142.187) |
(137.617) |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
277.977 |
234.301 |
103.124 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
214.619 |
187.279 |
47.603 |
|
|
|
Stores & Spares |
24.388 |
5.055 |
14.541 |
|
|
|
Capital Goods |
1.836 |
24.657 |
0.000 |
|
|
TOTAL IMPORTS |
240.843 |
216.991 |
62.144 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.45) |
(2.37) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.41
|
2.24 |
1.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.42
|
0.30 |
2.53 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE: Registered Office
of the company has been shifted from 39-27-44/5, Madhavadhara Vuda Colony, Vishakhapatnam,
Andhra Pradesh, India to the present address w.e.f.20.11.2008
OVERALL BUSINESS
OPERATIONS:
Similar to earlier years, the business has witnessed mixed results during 2011-12. While the manufacturing results were being constantly stable and were on the improvement front, the sales results were not effective due to low demand.
The volatile conditions in automotive market in North America and Europe have resulted into reduced sales volume and under utilization of capacity but better than previous years. Economic conditions prevailed in North America and Europe attributed to this low demand. The business has witnessed considerable progress in domestic sales in terms of volumes during 2011-12 by increasing the number of SKUs as well as distributors as part of its geographical market expansion.
BUSINESS PROSPECTS
Though there is slack in sales volume due to unfavorable market conditions at North America and Europe, the company is optimistic about its business prospects in the coming years.
As far as export sales are concerned, the company is now able to cater the needs of truck segment also with the enhanced machine capabilities such as installation of Furnace-II, which can produce larger size of windscreens. This new box furnace, installed during 2011-12, will help in increasing the parts range in terms of manufacturing capabilities. This would in turn help increasing the export sales. Allocation of couple of OE parts from other subsidiaries of NSG Group expected to augment the sales volume of Pilkington Automotive India.
With introduction of low priced cars / utility vehicles, the four wheelers penetration rate in India expected to be manifold. The growing income levels of middle class populace is also attributing to the increased new car populace in India . With continually growing vehicle populace in India, the aftermarket industry in India continues to grow. With introduction of new models in after segment in India, the domestic sales volume expected to increase in the forthcoming year. The number of distributors is also to be increased aiming to reach Tier-III and Municipal cities also and this will help to create brand awareness and thereby increasing the sales volume. In order to boost the sales volume further in this segment, a full-fledged sales team is in place. In addition to the above, the company is exploring possibilities to serve the market needs of specialized transport segment in India .
UNSECURED LOAN
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Other external commercial borrowings |
272.600 |
252.912 |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
242.000 |
260.000 |
|
Loans repayable on demand from banks |
214.193 |
59.730 |
|
Total |
728.793 |
572.642 |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments.
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.59.64 |
|
|
1 |
Rs.90.14 |
|
Euro |
1 |
Rs.77.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.