MIRA
INFORM REPORT
|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
BROSE INDIA AUTOMOTIVE SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No.202, 2nd Floor, Survey No.19/20, Panchshil Tech
Park, Hinjewadi, Pune – 411057, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.06.2006 |
|
|
|
|
Com. Reg. No.: |
11-139773 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 353.752 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35914PN2006PTC139773 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB07584D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB8958P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Automotive Products. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of ‘Brose International Gmbh, Germany’. It is
an established company having moderate track record. There appears a huge loss during 2012, which has been successfully
wiped off by the company by infusing funds into the reserves through
securities premium. There are no external borrowing reported. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. In view of reputed parent company, the subject can be considered for
business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 (GENERAL DETAILS)
|
Name : |
Mr. Pawan T |
|
Designation : |
Finances Department |
|
Contact No.: |
91-20-30437977 |
|
Date : |
11.06.2013 |
LOCATIONS
|
Registered Office : |
Office No.202, 2nd Floor, Survey No.19/20, Panchshil Tech
Park, Hinjewadi, Pune – 411057, Maharashtra, India |
|
Tel. No.: |
91-20-30437800/ 30437801/ 30437870 |
|
Fax No.: |
91-20-30437850 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No.255, Hissa No.1/8, Village Hinjewadi, Taluka: Mulshi,
District Pune – 411033, Maharashtra, India |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Ashwani Aggarwal |
|
Designation : |
Director |
|
Address : |
D-489, Sector- Eleven, Faridabad – 121006, Haryana, India |
|
Date of Birth/Age : |
01.03.1959 |
|
Date of Appointment : |
27.09.2010 |
|
DIN No.: |
03139415 |
|
|
|
|
Name : |
Mr. Stefan Winfried Halusa |
|
Designation : |
Director |
|
Address : |
Fliederweg 19, Ahorn, Germany 96482 |
|
Date of Birth/Age : |
19.04.1965 |
|
Date of Appointment : |
25.03.2009 |
|
DIN No.: |
02585048 |
|
|
|
|
Name : |
Mr. Kurt Rudolph Sauernheimer |
|
Designation : |
Director |
|
Address : |
Hildburghaeuser Weg 11 D-96450 Coburg Germany D-96274 |
|
Date of Birth/Age : |
02.02.1960 |
|
Date of Appointment : |
02.06.2006 |
|
DIN No.: |
01876339 |
KEY EXECUTIVES
|
Name : |
Mr. Pawan T |
|
Designation : |
Finances Department |
|
|
|
|
Name : |
Ms. Roopali Vikram Kamate |
|
Designation : |
Company Secretary |
|
Address : |
401, Celestia Balewadi Road, Baner, Pune – 411045, Maharashtra, India |
|
Date of Birth/Age : |
22.07.1979 |
|
Date of Appointment : |
01.07.2010 |
|
PAN No.: |
ARXPK8076G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Brose International GMBH, Germany |
|
46566987 |
|
Brose Fahrzeugteile Verwaltungsgesellschaft MBH, Germany |
|
4630 |
|
Total |
|
46571617 |
As on 07.01.2013
|
Names of Allottee |
|
No. of Shares
Allotted |
|
|
|
|
|
Brose International GMBH, Germany |
|
14518548 |
|
Brose Fahrzeugteile Verwaltungsgesellschaft MBH Meerane, Germany |
|
1452 |
|
|
|
|
|
Total |
|
14520000 |
As on 27.09.2012
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 and Exporter of Automotive Products. |
|
|
|
|
Exports : |
|
|
Products : |
Automotive Products |
|
Countries : |
·
Asia ·
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Credit |
|
|
|
|
Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
150 (Approximately) |
|
|
|
|
Bankers : |
State Bank of
India, Pune
Main Branch, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer
Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
AAFFP3698A |
|
|
|
|
Holding Company : |
Brose International GMBH, Germany |
|
|
|
|
Fellow Subsidiary : |
· Brose China Company Limited · Brose Bratislava, spol. s r.o., Lozorno. · Brose DO Brasil LTDA. · Brose Canada · Brose Changchun Automotive Systems Company Limited · Brose CZ Spol. S.R.O., · Brose S.A. · Brose Wuhan Automotive Systems Company Limited |
|
|
|
|
Associates : |
· Brose Fahrzeugteile Verwaltungsgesellschaft mbH, Meerane · Brose Fahrzeugteile GmbH and Company Kommanditgesellschaft, Coburg. · Brose Fahrzeugteile GmbH and Company KG, Hallstadt, Germany. · Brose Schließsysteme GmbH and Company Kommanditgesellschaft, Wuppertal. · Brose Fahrzeugteile GmbH and Company Kommanditgesellschaft, Würzburg. |
CAPITAL STRUCTURE
After 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
Rs.10/- each |
Rs.900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61091617 |
Equity Shares |
Rs.10/- each |
Rs.610.916
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
Rs.10/- each |
Rs.900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35375190 |
Equity Shares |
Rs.10/- each |
Rs.353.752
Millions |
|
|
|
|
|
i) Pursuant to the resolution passed at the Extra OrdinaryGeneral meeting held on February 27, 2012 the Authorised Capital of the Companyhas been increased by Rs. 446,000,000 by creation of 44,600,000 Equity Sharesof Rs. 10 each
ii) During the year, pursuant to the Resolution dated April25, 2011 the Company issued 11,537,999 Equity Share of Rs. 10 each and pursuant to the Resolution dated February8, 2012 the Company issued 8,052,648 Equity Shares of Rs. 10 each at a premiumof Rs 5.95 to its existing shareholders.
a. Reconciliation of
number of shares
|
Particular |
Nos. |
Rs. In Millions |
|
Balance at the beginning of the year |
15784543 |
157.845 |
|
Issued during the year |
19590647 |
195.906 |
|
Balance at the end
of the year |
35375190 |
353.752 |
Further, there were no shares issued for consideration other than cash and shares bought back during the period of five years immediately preceeding 31st March, 2012.
b. Terms/rights and restrictions attached to equity shares
The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held.
c. Out of the above equity shares, 35,371,679 (previous year 15,782,974) shares are held by Brose International GmbH whereas 3,511 (previous year 1,569) shares are held by Brose Fahrzeugteile Verwaltungsgesellschaft mbH, Meerane.
d. Details of
shareholders holding more than 5% shares in the Company
|
Particular |
Nos. |
% Holding |
|
Brose International GmbH (the Holding Company) |
35371679 |
99.99% |
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 |
|
353.752 |
157.845 |
|
(b) Reserves & Surplus |
|
20.782 |
(3.320) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
3.158 |
2.193 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
85.784 |
16.461 |
|
(c) Other current liabilities |
|
45.014 |
26.377 |
|
(d) Short-term provisions |
|
0.315 |
0.343 |
|
TOTAL |
|
508.805 |
199.899 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
89.674 |
85.203 |
|
(ii) Intangible Assets |
|
15.465 |
15.949 |
|
(iii) Capital work-in-progress |
|
78.541 |
2.457 |
|
(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 |
|
63.169 |
22.629 |
|
(e) Other Non-current assets |
|
2.168 |
1.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
66.176 |
3.838 |
|
(c) Trade receivables |
|
27.023 |
16.716 |
|
(d) Cash and cash equivalents |
|
101.128 |
17.830 |
|
(e) Short-term loans and advances |
|
23.197 |
6.356 |
|
(f) Other current assets |
|
42.264 |
27.421 |
|
TOTAL |
|
508.805 |
199.899 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
84.873 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
4.204 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
89.077 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.597 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
89.674 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
48.182 |
|
|
Capital work-in-progress |
|
|
1.058 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
12.129 |
|
|
Cash & Bank Balances |
|
|
17.815 |
|
|
Other Current Assets |
|
|
16.012 |
|
|
Loans & Advances |
|
|
11.858 |
|
Total
Current Assets |
|
|
57.814 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
12.701 |
|
|
Other Current Liabilities |
|
|
1.821 |
|
|
Provisions |
|
|
2.858 |
|
Total
Current Liabilities |
|
|
17.380 |
|
|
Net Current Assets |
|
|
40.434 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
89.674 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
323.889 |
164.877 |
106.363 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
323.889 |
164.877 |
106.363 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
312.150 |
158.153 |
83.737 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
312.150 |
158.153 |
83.737 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.739 |
6.724 |
22.626 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
35.461 |
22.618 |
13.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(23.722) |
(15.894) |
9.436 |
|
|
|
|
|
|
|
|
|
|
TAX |
0.089 |
(0.597) |
3.843 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(23.811) |
(16.354) |
5.593 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Fee |
319.796 |
163.988 |
106.051 |
|
|
TOTAL EARNINGS |
319.796 |
163.988 |
106.051 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
NA |
5.864 |
|
|
TOTAL IMPORTS |
NA |
NA |
5.864 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.67) |
(1.04) |
0.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(7.35)
|
(9.92) |
5.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.51)
|
(8.05) |
8.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06)
|
(0.10) |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.98
|
1.67 |
3.33 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
- Creditors Due small micro enterprises |
0.000 |
0.268 |
0.000 |
|
- Creditors Due others |
85.784 |
16.193 |
12.701 |
|
Total |
85.784
|
16.461 |
12.701 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last 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 |
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 |
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, 204, Sasco Bhawan, Azadpur Commercial Complex, Azadpur, Delhi –
110033, India, to the present address w.e.f. 02.06.2011.
BUSINESS PERFORMANCE
During the Financial year 2011-12, development teams provided Design, FEA and Electronic Development support to Brose Group.
In addition, IT team supported central IT Function at Coburg, Germany and Purchasing team provided sourcing and supplier development support to Brose Group.
From the manufacturing side, the company acquired four different projects (Two for window regulators, One for seat height adjusters and one for latches) in order to strengthen it’s manufacturing operations and extend it?s footprints in the country.
A major portion of the ramp up activity for the seat height adjuster and window regular projects was completed during the year, so as to bring these projects under the series operations from next year.
FIXED ASSETS:
· Computer and Data Processing Machines
· Furniture and Fixture
· Office Equipment
· Vehicles
· Plant and Machinery
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.58.27 |
|
|
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.