MIRA INFORM REPORT
|
Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASHOK LEYLAND JOHN DEERE CONSTRUCTION EQUIPMENT COMPANY PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Shyamala Towers, 136, Arcot Road, Saligramam,
Chennai – 600093, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.07.2009 |
|
|
|
|
Com. Reg. No.: |
18-072136 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1217.363
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29253TN2009PTC072136 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA8691F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Marketer, Distributor and Seller of equipments for use
in the construction and mining industry. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 50:50 joint venture between Ashok Leyland Limited and
John Deere Asia (Singapore) Private Limited. It is a company having a satisfactory
track record. There appears some accumulated losses recorded by the company.
It receive better support from its holding companies. Trade relations are
reported as decent. Business is active. Payments are usually correct. 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.
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
ICRA |
|
Rating |
LA (Long Term Loan) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
Not Available |
|
Rating Agency Name |
ICRA |
|
Rating |
A1 (Short Term Loan – Non fund based limit) |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
Not Available |
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 : |
7th Floor, Shyamala Towers, 136, Arcot Road, Saligramam,
Chennai – 600093, Tamilnadu, India |
|
Tel. No.: |
91-44-66384000 |
|
Fax No.: |
91-44-66384212 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Chinna Obulapuram Village, Gummudipoondi Taluk Thiruvallur Dist -
Tamilnadu India |
DIRECTORS
As on: 29.08.2012
|
Name : |
Dr. Venkataramani Sumantran |
|
Designation : |
Director |
|
Address : |
711, Valli Ammai Aachi Road, Kotturpurarn, Chennai- 600085, Tamil Nadu,
India |
|
Date of Birth/Age : |
27.09.1958 |
|
Date of Appointment : |
03.08.2010 |
|
DIN No.: |
02153989 |
|
|
|
|
Name : |
Karl Anders Gotthard Spare |
|
Designation : |
Director |
|
Address : |
76 Selwyn Avenue, Richmond, Surrey, London TW92HD |
|
Date of Birth/Age : |
07.06.1946 |
|
Date of Appointment : |
17.02.2011 |
|
DIN No.: |
00668550 |
|
|
|
|
Name : |
Mr. Michael John Mack Jr |
|
Designation : |
Director |
|
Address : |
5859 Eagle Ridge Road, Bettendod 5272,United States of America |
|
Date of Birth/Age : |
01.11.1956 |
|
Date of Appointment : |
20.10.2009 |
|
DIN No.: |
02787877 |
|
|
|
|
Name : |
Mr. Martin Laurence Wilkinson |
|
Designation : |
Director |
|
Address : |
8505 Praririe Ridge, Dr. Johnston, 50131, United States of America |
|
Date of Birth/Age : |
29.12.1955 |
|
Date of Appointment : |
17.08.2010 |
|
DIN No.: |
03143810 |
|
|
|
|
Name : |
Randal Alan Sergesketter |
|
Designation : |
Director |
|
Address : |
4804 Millens Bay Court, Apex, 27539, United
States of America |
|
Date of Birth/Age : |
23.11.1957 |
|
Date of Appointment : |
03.08.2010 |
|
DIN No.: |
03024461 |
|
|
|
|
Name : |
Mr. Shivaji Rao |
|
Designation : |
Alternate director |
|
Address : |
D 5 and 6, Radhika Empire, Wanowrie, Pune - 411041, Maharashtra, India
|
|
Date of Birth/Age : |
10.04.1968 |
|
Date of Appointment : |
17.08.2010 |
|
DIN No.: |
01077334 |
|
|
|
|
Name : |
Mr. Sridharan Kesavan |
|
Designation : |
Director |
|
Address : |
Old.No.8, New.No. 17; Solayap pa Street, Mylapore – 600004, Chennai, India |
|
Date of Birth/Age : |
16.08.1953 |
|
Date of Appointment : |
10.05.2012 |
|
DIN No.: |
00051976 |
KEY EXECUTIVES
|
Name : |
Mr. D.M. Thiyagesh |
|
Designation : |
Company Secretary |
|
Address : |
No.5, ICL home town, Numbai, Chennai - 600077, India |
|
Date of Birth/Age : |
01.06.1970 |
|
|
|
|
Name : |
P. Ravishankar |
|
Designation : |
Chief Executive Officer |
|
Qualification : |
BE,MBA |
|
Experience : |
24 Years |
|
Date of Appointment : |
27.09.2010 |
MAJOR SHAREHOLDERS
As on: 29.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Leyland Limited, India |
|
79868150 |
|
John Deere Asia (Singapore) Private Limited, Singapore |
|
79868150 |
|
Total |
|
159736300 |
As on: 29.11.2012
|
Names of Allotees |
|
No. of Shares |
|
Ashok Leyland Limited, India |
|
10000000 |
|
John Deere Asia (Singapore) Private Limited, Singapore |
|
10000000 |
|
Total |
|
20000000 |
As on: 28.01.2013
|
Names of Allotees |
|
No. of Shares |
|
Ashok Leyland Limited, India |
|
7500000 |
|
John Deere Asia (Singapore) Private Limited, Singapore |
|
7500000 |
|
Total |
|
15000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.08.2012
|
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 |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Marketer, Distributor and Seller of equipments for use
in the construction and mining industry. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Indiabulls Finance, Centre, Tower 3, 27th to 32nd Floor, Elphinstone Mill, Compound, Senapati Bapat Marg, Elphinstone (W), Mumbai - 400 013, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
CAPITAL STRUCTURE
After: 29.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
195000000 |
Equity Shares |
Rs.10/- each |
Rs.1950.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital : Rs.1947.363
Millions
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
194736300 |
Equity Shares |
Rs.10/- each |
Rs.1947.363 Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
141000000 |
Equity Shares |
Rs.10/- each |
Rs.1410.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
121736300 |
Equity Shares |
Rs.10/- each |
Rs.1217.363
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 |
1217.363 |
847.363 |
584.815 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(637.961) |
(103.309) |
(11.827) |
|
|
NETWORTH |
579.402 |
744.054 |
572.988 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
972.595 |
597.538 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
972.595 |
597.538 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1551.997 |
1341.592 |
572.988 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1466.509 |
1185.749 |
397.971 |
|
|
Capital work-in-progress |
50.840 |
7.128 |
16.326 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
370.801
|
65.840 |
0.000 |
|
|
Sundry Debtors |
4.726
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
105.967
|
35.675 |
100.669 |
|
|
Other Current Assets |
1.092
|
0.153 |
0.163 |
|
|
Loans & Advances |
159.190
|
149.901 |
63.646 |
|
Total
Current Assets |
641.776
|
251.569 |
164.478 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
353.477
|
45.135 |
4.630 |
|
|
Other Current Liabilities |
232.076
|
55.242 |
0.834 |
|
|
Provisions |
21.575
|
2.477 |
0.323 |
|
Total
Current Liabilities |
607.128
|
102.854 |
5.787 |
|
|
Net Current Assets |
34.648
|
148.715 |
158.691 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1551.997 |
1341.592 |
572.988 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
3.901 |
1.875 |
2.915 |
|
|
|
TOTAL (A) |
3.901 |
1.875 |
2.915 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
3.262 |
|
|
|
General and other administrative expenses |
|
|
10.365 |
|
|
|
TOTAL (B) |
486.916 |
87.410 |
13.627 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(including
financial expenses) |
(including
financial expenses) |
(10.712) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(483.015) |
(85.535) |
(10.713) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
51.636 |
5.367 |
0.146 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(534.652) |
(90.902) |
10.859 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.579 |
0.968 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(534.652) |
(91.481) |
(11.827) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(103.309) |
(11.827) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(637.961) |
(103.308) |
(11.827) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
27.860 |
0.000 |
|
|
|
Capital Goods |
NA |
85.433 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
113.293 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(5.16) |
(1.23) |
(0.95) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(13705.51)
|
(4878.99) |
372.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(25.36)
|
(6.32) |
(1.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.92)
|
(0.12) |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.68
|
0.80 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
2.45 |
28.42 |
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 |
No |
|
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 |
Yes |
FUTURE PROSPECTS
Government of India focus on Infrastructure investment to support the GDP growth is exemplified by the doubling of the Government investment in the 12th Five year plan for Infrastructure projects to 1 Trillion dollars from the 514 billion dollars in the 11th plan. This focus and investment are expected to fuel the demand for Construction Equipments in India in the coming years.
As per the IECIAL committee (Indian Earthmoving and Construction equipment Industry Association Limited), the CE industry has potential to grow at 19-22% CAGR to reach US$20-25 billion by 2020, from the current market size of US$4 billion.
Among the construction equipment products Backhoe Loader, Excavator, Wheel Loader, Compressors, Mobile Cranes & Road Construction Equipment’s are the six products which lead the market.
The Leyland Deere - the strategic partnership between Ashok Leyland and John Deere USA has big plans to be serious player in India CE industry. Leyland Deere has already set up their state of art manufacturing facility near Chennai and their first product the 435 Back hoe Loader is already launched in the Market. This JV brings in Indian Expertise with Global Excellence and is strategically positioned to provide product solutions to the customers in the India CE space and selected global markets. John Deere brings in advanced technical knowhow and vast experience in the global construction equipment space while Ashok Leyland lends in-depth knowledge of the Indian market with proven expertise in manufacturing, sourcing and distribution to this strategic partnership.
With the above strengths the two JV partners are bringing on board, Leyland Deere is poised to leverage the huge growth potential of India CE equipments through their customer centric products and solutions.
FIXED ASSETS:
- Land –
Freehold
- Buildings
- Furniture and
Fixtures
- Office
Equipments
- Data
processing 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 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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
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 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.