MIRA INFORM REPORT
|
Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASK AUTOMOTIVE PRIVATE LIMITED |
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Registered
Office : |
Flat No. 104, 929/1, Naiwala Faiz Road, Karol Bagh, New Delhi – 110
005 |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
18.01.1988 |
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Com. Reg. No.: |
55-030342 |
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Capital
Investment / Paid-up Capital : |
Rs.4.235 millions |
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CIN No.: [Company Identification
No.] |
U34300DL1988PTC030342 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELA12312G DELA14325D DELA12563F |
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PAN No.: [Permanent Account No.] |
AAACA7205Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Automotive Components. |
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No. of Employees
: |
1000 (Approximately) (In office 80 + In factory 920) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 5700000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having good track
record. Financial position appears to be sound. Directors are reported to be experienced
and respectable businessman. Trade relations are reported as fair. Business
is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = A+ |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligation it carry low credit risk. |
|
Date |
October 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Flat No. 104, 929/1, Naiwala Faiz Road, Karol Bagh, New Delhi – 110
005, India |
|
Tel. No.: |
91-11-28758433 / 45032488 /
25822694 |
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Fax No.: |
91-11-28752694 |
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E-Mail : |
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Website : |
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Head Office / Factory 1: |
Plot No. 66 and 67, Udyog
Vihar, Phase I, Gurgaon - 122016, |
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Tel. No.: |
91-124-4659100 / 2340973 /
5003701 / 5003702 / 6340973 |
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Fax No.: |
91-124-2439568 |
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Corporate Office Factory 2: |
Plot No. 30-31,
Fathepur-Nawada, Manesar, Gurgaon - 122050, |
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Tel. No.: |
91-124-4659200 / 2290561
/ 2290563 |
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Fax No.: |
91-124-2290560 |
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Factory 3 : |
Plot No. 28,
Sector 4, IMT Manesar, Gurgaon - 122050, |
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Tel. No.: |
91-124-4659200 /
2290561 / 2290563 / 4365197-198 |
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Fax No.: |
91-124-2290560 /
2291423 |
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Factory 4 : |
Plot No 79, Sector 6, Manesar, Gurgaon - 122050, Haryana, India |
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Factory 5 : |
Plot No 21, IP –IV , Begumpur Haridwar, India |
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Factory 6 : |
Plot No 305, Sector
6, Manesar, Gurgaon - 122050, Haryana, India |
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Factory 7 : |
Plot No 155-156, Sector 5, IMT Manesar, Gurgaon, Haryana,
India |
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Factory 8 : |
Plot No 176, Narasapura Industrial Area, Malur Taluk District Kolar, Bangalore,
Karnataka, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Kuldip Singh Rathee |
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Designation : |
Managing Director |
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Address : |
D-936A, IInd Floor, New Friends Colony, |
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Date of Birth/Age : |
28.08.1954 |
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Qualification : |
Graduate in Economics (Hons) |
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Date of Appointment : |
18.01.1988 |
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Pan No.: |
ABQPR9407H |
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DIN No.: |
00041032 |
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Other
Directorship
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Name : |
Mr. Vijay Rathee |
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Designation : |
Director |
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Address : |
Farm House No. 82, Road No. 4, Silver Oak Marg, Village Ghitorni, |
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Date of Birth/Age : |
14.09.1953 |
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Qualification : |
M. Sc. |
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Date of Appointment : |
26.10.1995 |
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Pan No.: |
ADXPR3737M |
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DIN No.: |
00042731 |
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Other
Directorship
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kuldip Singh Rathee |
|
20902 |
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Prashant Rathee |
|
660 |
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Aman Rathee |
|
5630 |
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Vijay Rathee |
|
15161 |
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Total |
|
42353 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Components. |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Brake Shoes |
Nos. |
70000000 |
51895158 |
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Panels |
Nos. |
-- |
3192225 |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
1000 (Approximately) (In office 80 + In factory 920) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Satinder Saini and Company Chartered Accountants |
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Address : |
516-514, |
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Tel. No.: |
91-11-25612574 / 20060558
/ 25511904 / 41587037 |
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TeleFax No.: |
91-11-25511904 |
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E-Mail : |
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PAN.: |
AATPS2758Q |
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Common Directors
and Substantial Voting Power : |
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Associates : |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42353 |
Equity Shares |
Rs.100/-
each |
Rs.4.235
Millions |
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Shareholding Pattern
|
Name of Shareholder
Holding More than 5% |
No. of Shares |
% age |
|
Mr. K. S. Rathee |
20,902 |
49.00% |
|
Mrs. Vijay Rathee |
15,161 |
36.00% |
|
Mr. Aman Rathee |
5,630 |
13.00% |
|
Others |
660 |
2.00% |
|
Total |
42,353 |
100.00% |
Reconciliation
|
Particular |
No. of Shares |
Rs. In Millions |
|
Equity Shares (Fully Paid Up) having voting rights |
|
|
|
Opening Balance |
42,353 |
4.235 |
|
Fresh issue |
-- |
-- |
|
Other Changes |
-- |
-- |
|
Closing Balance |
42,353 |
4.253 |
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 |
4.235 |
4.235 |
4.235 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1437.123 |
1037.526 |
725.198 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1441.358 |
1041.761 |
729.433 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
113.360 |
174.983 |
132.739 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
113.360 |
174.983 |
132.739 |
|
|
DEFERRED TAX LIABILITIES |
42.848 |
37.128 |
33.976 |
|
|
|
|
|
|
|
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TOTAL |
1597.566 |
1253.872 |
896.148 |
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APPLICATION OF FUNDS |
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|
FIXED ASSETS [Net Block] |
696.986 |
624.908 |
410.434 |
|
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Capital work-in-progress |
77.482 |
1.420 |
0.427 |
|
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|
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INVESTMENT |
216.705 |
216.705 |
216.705 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
256.346
|
212.218 |
134.848
|
|
|
Sundry Debtors |
576.493
|
461.077 |
388.917
|
|
|
Cash & Bank Balances |
13.125
|
13.530 |
17.699
|
|
|
Other Current Assets |
3.941
|
3.886 |
0.000
|
|
|
Loans & Advances |
439.135
|
356.909 |
50.806
|
|
Total
Current Assets |
1289.040
|
1047.620 |
592.270 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
303.134
|
231.121 |
242.439
|
|
|
Other Current Liabilities |
116.598
|
92.106 |
45.487
|
|
|
Provisions |
262.915
|
313.554 |
35.762
|
|
Total
Current Liabilities |
682.647
|
636.781 |
323.688 |
|
|
Net Current Assets |
606.393
|
410.839 |
268.582
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1597.566 |
1253.872 |
896.148 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
4466.423 |
3476.793 |
2308.999 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
524.283 |
423.189 |
288.131 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
124.686 |
11.862 |
100.969 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
399.597 |
312.327 |
187.162 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
32.161 |
33.579 |
35.187 |
|
|
TOTAL EARNINGS |
32.161 |
33.579 |
35.187 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
206.299 |
149.950 |
117.605 |
|
|
|
Capital Goods |
1.181 |
27.860 |
15.380 |
|
|
TOTAL IMPORTS |
207.480 |
177.810 |
132.985 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9435.00 |
7374.00 |
4419.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.40
|
25.30 |
28.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.41 |
0.4 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.08
|
0.17 |
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.89
|
1.64 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
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 |
Note:
The company changed its registered office from 38-D, Pocket A,
SFS, Sukhdevvihar, New Delhi to 929/1, Naiwala, Faiz Road, Karol Bagh, New
Delhi, w.e.f. 14.03.2008.
The Registered Office has again shifted from 929/1, Naiwala, Faiz Road,
Karol Bagh, New Delhi, India to the present address w.e.f. 20.03.2008.
OPERATIONAL RESULTS
The company has recorded a turnover of Rs. 4466.423 Millions during this financial year as against Rs 3476.793 Millions during the last financial year. The Net Profit before tax has been increased to Rs. 524.283 Millions as compared to the Last year figure of Rs. 423.189 Millions. To further strengthen the financial status of the company, the management decided to retain the earnings and hence no dividend has been declared for the year.
PLANT OPERATIONS
During the year ended 31st March 2012, the company’s all the plants were operating smoothly and no major break down was reported. The new plant being constructed in IMT Manesar, is expected to be operational by September 2012. Keeping pace with continuous development the company has started construction of one more plant at Banglore which is expected to be operational by the end of financial year 2012-13. This will increase the production and profitability in the years to come.
CONTINGENT LIABILITY
NOT PROVIDED FOR :
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
i. Bank Guarantee |
3.870 |
0.095 |
|
ii. Corporate Guarantees |
508.763 |
524.200 |
iii. The Company has received a Show Cause Notice regarding demand of Excise Duty of Rs. 4.034 Millions and interest and penalties thereon. The Company has filed its reply and is of the opinion that there will be no financial burden on the company, hence no provision considered necessary.
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computers
·
Furniture and Fixtures
·
Vehicles
·
Technical Know-How
·
R and D Equipments
AS PER WEBSITE
COMPANY PROFILE
Subject is a leading player in the manufacturing of Friction Products in Two- Wheeler Segment. Founded in 1989 by Mr. K. S. Rathee with a vision of ‘achieving excellence in the field of manufacturing Automotive Components’; ASK automotive has acquired a status of major supplier to original equipment manufacturers (OEMs) in India. Over a span of 2 decades, Subject has grown from small manufacturer to major supplier of friction material such as brake assemblies, brake shoe, brake linings, clutch plate andaluminum casting products like panels, hubs, non automotive parts, crank case, engine parts, grip engine partsetc to Original Equipment manufacturers (OEMs) in India. With Their commitment to innovation, competence to process improvements, quality control and customer service They have been able to position ourselves as a key resource for leading OEMs and have successfully added leading names like Hero Honda, Honda Motorcycle, Suzuki Motorcycle, Yamaha, Bajaj Auto, Tata Motors, Ford, TVS, Kinetic Motor and LML to Their clientele list.
Their vast experience and qualitative approach has made them a prominent and trusted business entity. They work in accordance with the set ISO 9001-2008 standard norms and manufacture products as per O.E standards. The company has technical collaboration with world leader in friction material M/s. ASK Technica Corporation, Japan. Their team of proficient engineers, technocrats, R and D experts is constantly engaged in improving the product quality and increasing the company's turnover ratio. Their team works in close coordination with their esteemed clients and design as well as develops products that offer maximum benefits to their customers.
They understand the importance of satisfied client base and thus streamline their processes to provide 100% customer-oriented satisfaction to their clients with unmatched quality. With its motto of ‘Customer First' the Company has grown over the years and presently it has 7 business units at different locations. All of ASK's operations have secured appropriate Quality Certifications and thus the Company has won various laurels for its quality and performance from customers. ASK has recently entered into manufacturing Aluminum Pressure Die-Casting components for the leading automotive manufacturers. Their indigenous technology with demonstrated capabilities and strategic tie-ups with world renowned co's brings in an unbeatable combination of experience, youth and partnership.
MILESTONES
1989 Setting up of Company
1994 “Best Vendor Award” from Kinetic Motor
1998 IS0 – 9002 certification
1999 QS – 9000 certification
“Best Vendor Award” from Kinetic
Motor
2001 Signed TCA with Ask Technica Corp of
Setting up of Unit-II
Setting up of Pressure Die
Casting facility
2003 “Challenge
2004 Setting up of Unit-III
Setting up of Paint Shop
TS-16949 certification
2005 “Best and Fastest Development Award”
from HMSI
Setting up of Wheel Assembly
facility
“Commendation Certificate for Quality
and Delivery” from HMSI
2006 Setting up of In-house Tool Room
2007 Setting
up of Design Centre
2008 OHSAS 18001:2007 Certification
2009 Award in Proprietary items Category and “Certificate for Quality and Delivery” from Honda (HMSI)
Setting up of unit IV in Manesar
Setting up of unit V in Haridwar
2010 Setting up of unit VI in Manesar
Setting up of unit A A Autotech in Manesar
2012 Setting up of unit VII in Manesar
Setting up of unit seven in Manesar, Gurgaon
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 Theyre 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.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
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 |
|
59 |
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.