MIRA INFORM REPORT
|
Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
HYVA (INDIA) PRIVATE LIMITED (w.e.f. 24.01.2001) |
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|
|
|
Formerly Known
As : |
HYVA INDIA TRANSPORTATION
SYSTEMS PRIVATE LIMITED |
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|
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Registered
Office : |
Plot
# EL – 215, M.I.D.C., Mahape, Navi Mumbai – 400701, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.12.2011 |
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Date of
Incorporation : |
02.09.1996 |
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Com. Reg. No.: |
11-102299 |
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Capital
Investment / Paid-up Capital : |
Rs.
12.510 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U50100MH1996PTC102299 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH07261C |
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PAN No.: [Permanent Account No.] |
AAACH2006C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Tipper Bodies. |
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|
|
No. of Employees
: |
432
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 |
|
Maximum Credit Limit : |
USD 8800000 |
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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 reputed company having a fine track record. Financial
position of the company appears to be sound. Trade relations are reported to
be decent. Payments are reported
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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Dilip |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-67618888 |
|
Date : |
17.05.2013 |
LOCATIONS
|
Registered / Administrative Office/
Factory 1 : |
Plot
# EL – 215, M.I.D.C., Mahape, Navi Mumbai – 400701, Maharashtra, India |
|
Tel. No.: |
91-22-67618888 / 27610504 /
66165590 / 66165440 / 27671512/ 27672846 / 27635185 |
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Fax No.: |
91-22-27672846 / 27610504 / 27672182 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
Factory 2 : |
SY No 18, Balgaranhally, Attibely Industrial Estate, Hosur
Main Road, Bangalore – 562107, Karnataka, India |
|
E-Mail : |
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|
|
|
Factory 3 : |
C-23, 24, 25, 26, 29, 30 31, III Phase, Adityapur
Industrial Estate, Adityapur Jamshedpur – 831013, Jharkhand, India |
|
Tel. No.: |
91-657-6541522 |
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E-Mail : |
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Factory 5: |
Located at Ø Pune |
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Sales Office 1 : |
D. No: 7-1-613/14/A/201, Lakshmishree Complex, Amirpet – Hyderabad,
Andhra Pradesh, India |
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|
|
|
Sales Office 2 : |
C/o Sri Naga Motors (Hyva), No. 893, 1st Floor, Swaraj Building, MES
Ring Road, Muthyalamma Nagar, Gokula Post, Bangalore – 560054, Karnataka,
India |
|
Tel. No.: |
91-80-23454816 |
|
E-Mail : |
DIRECTORS
AS ON 30.06.2012
|
Name : |
Mr. Brice Henry Bricheateau de la Morandiere |
|
Designation : |
Director |
|
Address : |
B RUE DU VIEUX, Colombier, 75006, Paris, 06, Paris 75006, France |
|
Date of Appointment : |
13.10.2011 |
|
DIN No.: |
05106756 |
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|
|
|
Name : |
Mr. Sudhir Govind Mhetre |
|
Designation : |
Alternate Director |
|
Address : |
Flat No. B-304, Raqmdev Complex, Sector – 19, Airoli, Navi Mumbai –
400708, Maharashtra, India |
|
Date of Appointment : |
23.06.2012 |
|
DIN No.: |
02549626 |
|
|
|
|
Name : |
Mr. Rupayan Santanu Majumdar |
|
Designation : |
Director |
|
Address : |
B- 1/103, Hyde Park, Ghodbunder Road, Manpada, Thane – 400607,
Maharashtra, India |
|
Date of Birth : |
52 Years |
|
Qualification : |
Chartered Accountant |
|
Experience: |
27 Years |
|
Date of Appointment : |
02.09.2009 |
|
DIN No.: |
02780347 |
KEY EXECUTIVES
|
Name : |
Mr. Dilip |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sudhir Madhav Prabhu |
|
20 |
|
Hyva Transport Technik GMBH, Austria |
|
1251000 |
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|
|
|
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Total |
|
1251020 |
AS ON 30.06.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Tipper Bodies. |
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|
|
|
Terms : |
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Selling : |
L/C, Cash and Credit |
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|
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tipper Bodies |
Nos. |
Not Applicable |
11757 |
|
Hydraulic Cylinders (including for captive consumption) |
Nos. |
Not Applicable |
32007 |
|
Compactors |
Nos. |
Not Applicable |
146 |
|
Fifth Wheel Coupling |
Nos. |
Not Applicable |
294 |
Note
·
The installed capacity of
the Company’s products cannot be determined as the Company’s products can be
manufactured in different types and sizes as per customers needs and
requirements.
·
Actual production
includes quantities manufactured by others on job work basis.
·
The above does not
include products were assembly / mounting operations are carried out.
GENERAL INFORMATION
|
Customer : |
End Users |
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No. of Employees : |
432
(Approximately) |
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Bankers : |
·
ABN
Amro Bank N.A., 14, Veer Nariman Road, Now
Shifted to, 7th Floor, Sakhar Bhavan, Nariman Point, Mumbai –
400021, Maharashtra, India ·
Deutsche
Bank, Fort Branch, Mumbai, Maharashtra, India [91-22-66584600] |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Price
Waterhouse Chartered
Accountants |
|
Address : |
252,
Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400026, Maharashtra, India |
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PAN.: |
AAEFP3641G
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Holding Company : |
Ø Hyva Transporttechnik GmbH, Austria |
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|
|
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Ultimate Holding
Company : |
Ø Hyva Holding
B.V., Netherlands (upto April 12, 2011) Ø Hyva Global
B.V., Netherlands (effective April 13, 2011) |
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|
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|
Fellow Subsidiaries
: |
Ø Hyva do Brasil Hidráulica
Limited, Brazil Ø Technamics B.V.,
Netherlands Ø Hyva Mechanics
(Yang Zhou) Limited, China Ø Hyva Ibérica
S.A., Spain Ø Georg Hydraulik
GmbH, Germany Ø Hyva
International B.V., Netherlands Ø Hyva Thailand
Company Limited, Thailand Ø Technomet S.R.L,
Italy Ø Amco Veba
S.R.L., Italy Ø
Ferrari International, SpA, Italy |
CAPITAL STRUCTURE
AS ON 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1251020 |
Equity Shares |
Rs.10/- each |
Rs.12.510
Millions |
|
|
|
|
|
Note:
Of the above, 1,251,000
(Previous Year: 1,251,000) Equity Shares of Rs. 10 each, fully paid are held by
Hyva Transporttechnik GmbH, Austria and 20 (Previous Year: 20) Equity Shares of
Rs. 10 each, fully paid are held by a nominee of Hyva Transporttechnik GmbH,
Austria. The ultimate holding company is Hyva Global B.V., Netherlands
(effective April 13, 2011) [formerly the ultimate holding company was Hyva
Holding B.V., Netherlands].
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12.510 |
12.510 |
12.510 |
|
|
2] Share Application Money |
0.005 |
0.005 |
0.005 |
|
|
3] Reserves & Surplus |
2198.892 |
1819.406 |
1444.382 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2211.407 |
1831.921 |
1456.897 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.841 |
3.366 |
15.111 |
|
|
2] Unsecured Loans |
78.176 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
79.017 |
3.366 |
15.111 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2290.424 |
1835.287 |
1472.008 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
386.513 |
336.136 |
365.599 |
|
|
Capital work-in-progress |
18.606 |
37.301 |
4.136 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
52.894 |
44.300 |
21.356 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1638.610
|
945.472
|
808.731 |
|
|
Sundry Debtors |
1136.461
|
710.215
|
577.744 |
|
|
Cash & Bank Balances |
125.123
|
333.490
|
229.978 |
|
|
Other Current Assets |
1.593
|
1.713
|
2.102 |
|
|
Loans & Advances |
486.540
|
206.027
|
156.279 |
|
Total
Current Assets |
3388.327
|
2196.917
|
1774.834 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1440.310 |
592.594 |
605.840 |
|
|
Other Current Liabilities |
55.146
|
52.057
|
58.928 |
|
|
Provisions |
60.460
|
134.716
|
29.149 |
|
Total
Current Liabilities |
1555.916
|
779.367
|
693.917 |
|
|
Net Current Assets |
1832.411
|
1417.550
|
1080.917 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2290.424 |
1835.287 |
1472.008 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
|
Income |
6700.580 |
5238.640 |
3408.730 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
660.880 |
659.570 |
263.260 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
1.080 |
2.530 |
6.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
659.790 |
657.040 |
256.970 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
93.350 |
75.960 |
82.240 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
566.440 |
581.080 |
174.730 |
|
|
|
|
|
|
|
|
|
|
TAX |
186.950 |
206.060 |
63.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
379.490 |
375.020 |
111.550 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
NA |
94.458 |
120.305 |
|
|
|
Commission |
NA |
1.947 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
96.405 |
120.305 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
1161.639 |
638.046 |
|
|
|
Stores & Spares |
NA |
8.016 |
9.374 |
|
|
|
Capital Goods |
NA |
16.722 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
1186.377 |
647.420 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
303.34 |
299.77 |
89.17 |
|
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%20PRIVATE%20LIMITED%20-%20221676%2018-May-2013_files/image002.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20221676%2018-May-2013_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
8.45
|
11.09
|
5.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.01
|
22.94
|
8.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.32
|
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.04
|
0.00
|
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.18
|
2.82
|
2.56 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
1440.310 |
592.594 |
605.840 |
|
Sundry creditors |
1440.310 |
592.594 |
605.840 |
|
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) |
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 |
UNSECURED LOAN
|
Unsecured Loan |
31.12.2011 |
31.12.2010 |
|
|
(Rs. in Millions) |
|
|
Working capital loans banks unsecured |
(A) 78.176 |
0.000 |
|
|
|
|
|
Total |
78.176 |
0.000 |
|
Note:
(A) Bank
Overdraft: Rs.78.176 Millions [Repayable within one year Rs. 78.176 Millions;
(Previous Year: Rs. Nil)] [Corporate Guarantee given by Hyva Holding B.V.] |
||
NOTE
The Registered Office of the company has been shifted from Plot # C-255,
FINANCIAL RESULTS
Year 2011 is ended
with positive note for the automobile industry. The infrastructure development
is slowly gathering momentum and they see an opportunity for growth in this
scenario. Tipper demand in Indian market was good in year 2011. However the
competition is fast catching up and they are facing competition from the new
companies.
The company
registered a turnover of Rs. 6700.58 Million and PAT 379.49 in year 2011.
Earnings per share is 303.34 per share for a 10 rupee share.
BUSINESS SCENARIO
India continues to
be an emerging global automotive power offering vast opportunities for
Investment. The economy is slowed down in the first half of year 2012 due to
Interest rates continue to be very high along with higher excise duty affecting
CV enterprise viability, Mining sector continues to be depressed due to
clearances and approvals on hold and Monsoon expectations are not good in many
parts of country. However, they look forward to achieve the ambitious targets
set out for year 2012.
The Company has
been able to improve its market share with all it’s major customers. New OEM’s
are entering into the manufacturing of commercial vehicles and adding more
opportunities for the company.
BUSINESS
OPERATIONS
The new Factory at
Pune has been completed and started manufacturing activity from August 2011.
The entire Tipper production is shifted to Pune Factory from October, 2011 and
the Navi Mumbai Factory is ready for expansion of Hydraulic cylinder.
FIXED ASSETS
Intangible Assets
·
Computer Software
Tangible Assets (Owned)
·
Buildings on
·
Plant and Machinery
·
Tools and Equipments
·
Electrical Installations
·
Office Equipments
·
Computers
·
Furniture and Fittings
·
Vehicles
Tangible Assets (Leased)
·
·
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. 54.89 |
|
|
1 |
Rs. 83.66 |
|
Euro |
1 |
Rs. 70.58 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.