MIRA INFORM REPORT
|
Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOODYEAR SOUTH ASIA TYRES PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
SOUTH ASIA TYRES LIMITED |
|
|
|
|
Registered Office : |
Plot No. H-18,
MIDC Industrial Area, Waluj, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
15.12.1993 |
|
|
|
|
Com. Reg. No.: |
11-075617 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs. 5237.300 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U99999MH1993PTC075617 |
|
|
|
|
TAN No.: (Tax Deduction &
Collection Account No.) |
NSKG01262C |
|
|
|
|
PAN No.: (Permanent Account No.) |
AABCG5544P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Seller of automobile tyres, tubes and flaps |
|
|
|
|
No. of Employees : |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 22520000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘The Goodyear Tire and Rubber Company’. It is
a well established company having a satisfactory track record. It operates on its own funds. There appears some dip in its
profitability during 2012 but it has achieved better growth in its sales
turnover. Trade relations are reported as fair. Business is active. Payment
terms are slow but correct. The company can be considered 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.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 DECLINED BY
|
Name : |
Ms. Monika Suri |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-240-2554639 |
|
Date : |
10.10.2013 |
LOCATIONS
|
Registered Office / Factory : |
Plot
No. H-18, MIDC Industrial Area,
Waluj, |
|
Tel No. : |
91-240-2564092/ 2554639/ 2554904/ 5/ 6/ 7/ 8/ 2554032/ 6608000/
6608173/ 6608102 |
|
Fax. No.: |
91-240-2554035/ 2554779/ 6608281 |
|
E-Mail.: |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Rajeev Anand |
|
Designation : |
Director |
|
Address : |
Plot No. 17, 1st Floor, Pocket – II, Jashola Vihar, |
|
Date of Birth/Age : |
23.05.1960 |
|
Date of Appointment : |
20.01.2009 |
|
DIN No.: |
02519876 |
|
|
|
|
Name : |
Mr. Marcelo Alcides Toscani |
|
Designation : |
Additional Director |
|
Address : |
28th Floor, K. Wah Centre, 1010, Huaihai [M], |
|
Date of Birth/Age : |
05.02.1958 |
|
Date of Appointment : |
23.08.2011 |
|
DIN No.: |
03587057 |
|
|
|
|
Name : |
Mr. Mark Chandran Ravunni |
|
Designation : |
Director |
|
Address : |
Svelte Hotel Personal Suites, A-3, DI Strict Centre, Saket, New Delhi
- 110017, India |
|
Date of Birth/Age : |
01.10.1967 |
|
Date of Appointment : |
16.07.2012 |
|
DIN No.: |
00869491 |
|
|
|
|
Name : |
Mr. Darren Mark Hayes Powell |
|
Designation : |
Director |
|
Address : |
200, Green Hills Villa Lane, 418, Jinxiu Road, East Pudong, New Area,
Shanghai-200120, China |
|
Date of Birth/Age : |
02.03.1967 |
|
Date of Appointment : |
05321811 |
|
DIN No.: |
05321811 |
KEY EXECUTIVES
|
Name : |
Mrs. Rakhi Gupta |
|
Designation : |
Secretary |
|
Address : |
House No.5, Ward No.08, Sihi Gate Bazar, Ballabgarh, Faridabad-121004,
|
|
Date of Birth/Age : |
08.12.1985 |
|
Date of Appointment : |
01.01.2010 |
|
PAN No.: |
AQOPG3628G |
|
|
|
|
Name : |
Ms. Monika Suri |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
The Goodyear Tire and Rubber Company ( |
512387250 |
|
Goodyear Orient Company Private Limited (Singapore) |
11340000 |
|
TOTAL
|
523727250 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
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 Seller of automobile tyres, tubes and flaps |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Annual Installed
Capacity |
Actual Production |
|
Automotive Tyres |
Nos |
3750000* |
3350151 |
|
Automotive Tubes # |
Nos |
- |
266142 |
|
Flaps # |
Nos |
- |
2980 |
NOTE
*
Licensed
Capacity is not applicable to the Company.
The normal capacity being a technical matter is certified by the
Production Manager and has been accepted by the auditors without verification.
# Tubes and flaps are on
conversion basis from outside sources.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
·
State Bank of · Punjab National Bank, PNB House, P. M. Road, Mumbai – 400001, Maharashtra, India Tel No.:- 91-22-22661499 |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Building No.8, 7th Floor, Tower B, |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
The Goodyear Tire and Rubber Company |
|
|
|
|
Fellow Subsidiaries : |
· Goodyear India Limited · Goodyear S.A., Luxembourg · Goodyear Philippines Inc · Goodyear Lux Mold · Goodyear (Thailand) Public Company Limited · PT Goodyear Indonesia Tbk · Goodyear Dalian Tire Rubber Company Limited · Goodyear International Corporation. · Goodyear Mktg. and Sales Sdn. Bhd. · Goodyear South Africa (PTY) Limited · Goodyear do Brasil Produtos de Borracha Ltda · Goodyear Taiwan Limited · Goodyear Dunlop Tires, France · Goodyear Singapore Tires · Goodyear Lastikleri TAS, Turkey · Nippon Giant Tire Kabushiki Kaisha · Goodyear Innovation Centre, Luxembourg |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
530000000 |
Equity Shares |
Rs.10/- each |
Rs. 5300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
523727250 |
Equity Shares |
Rs.10/- each |
Rs. 5237.300
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5237.300 |
5237.300 |
|
(b) Reserves & Surplus |
|
393.000 |
163.500 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
5630.300 |
5400.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
182.100 |
55.500 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
107.100 |
80.800 |
|
Total Non-current
Liabilities (3) |
|
289.200 |
136.300 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
1158.300 |
894.900 |
|
(c) Other
current liabilities |
|
127.000 |
144.900 |
|
(d) Short-term
provisions |
|
12.200 |
21.300 |
|
Total Current
Liabilities (4) |
|
1297.500 |
1061.100 |
|
|
|
|
|
|
TOTAL |
|
7217.000 |
6598.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
4229.300 |
3621.600 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
232.500 |
338.800 |
|
(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 |
|
684.500 |
771.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
5146.300 |
4731.400 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
647.000 |
686.400 |
|
(c) Trade
receivables |
|
773.400 |
515.900 |
|
(d) Cash
and cash equivalents |
|
508.500 |
556.400 |
|
(e)
Short-term loans and advances |
|
119.400 |
92.000 |
|
(f) Other
current assets |
|
22.400 |
16.100 |
|
Total
Current Assets |
|
2070.700 |
1866.800 |
|
|
|
|
|
|
TOTAL |
|
7217.000 |
6598.200 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5237.273 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
[288.490] |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4948.783 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4948.783 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3448.285 |
|
|
Capital work-in-progress |
|
|
308.767 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
347.676 |
|
|
Sundry Debtors |
|
|
588.159 |
|
|
Cash & Bank Balances |
|
|
404.375 |
|
|
Other Current Assets |
|
|
2.050 |
|
|
Loans & Advances |
|
|
502.695 |
|
Total
Current Assets |
|
|
1844.955 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
473.926 |
|
|
Other Current Liabilities |
|
|
97.543 |
|
|
Provisions |
|
|
81.755 |
|
Total
Current Liabilities |
|
|
653.224 |
|
|
Net Current Assets |
|
|
1191.731 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4948.783 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
7114.000 |
5345.000 |
4825.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
6361.000 |
4449.000 |
3778.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
753.000 |
896.000 |
1047.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
19.000 |
9.000 |
11.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
734.000 |
887.000 |
1036.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
445.000 |
396.000 |
374.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
289.000 |
491.000 |
662.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
126.000 |
56.000 |
[32.000] |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
163.000 |
435.000 |
694.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Other Earnings |
45.600 |
23.040 |
0.384 |
|
|
TOTAL EARNINGS |
45.600 |
23.040 |
0.384 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1999.600 |
1274.400 |
750.603 |
|
|
|
Stores & Spares |
37.600 |
36.500 |
37.976 |
|
|
|
Capital Goods |
497.200 |
351.000 |
459.164 |
|
|
TOTAL IMPORTS |
2534.400 |
1661.900 |
1247.743 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.31 |
0.83 |
1.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.29
|
8.14 |
14.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.14
|
7.84 |
12.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.08 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.76 |
|
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 |
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 |
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 |
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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CURRENT MATURITIES OF
LONG TERM DEBTS: NOT AVAILABLE
GENERAL INFORMATION
Subject is engaged
in a business of manufacturing/ sale of automobile tyres, tubes and flaps. The
Company has a manufacturing plant in Aurangabad, Maharashtra, India. The
Company is a Private Limited Company originally incorporated as public company
on December 15, 1993."
OPERATIONS
During the year,
the net sales and other income increased from Rs.5874.000 Millions in the
previous year to Rs. 7114.000 Millions. The depreciation amounted to Rs.445.000
Million.
The company had
entered into an off take Agreement with Goodyear India Limited (GIL) effective
April 01, 2012 (New Agreement) in supersession of previous off take Agreement.
The Company had
also entered into the Services Agreement with the Parent Company, The Goodyear
Tire and Rubber Company, Akron, Ohio, USA (GTRC) effective April 1, 2012 in
supersession of all previous arrangements to avail services in the areas of
Information Technology, Procurement, Production, Supply Chain, Sales an Marketing,
Finance and General and Administration on continuous basis.
The Company
continued the job conversion of tubes / flaps / bladders from outside agencies
being low cost technology item to concentrate on Company’s core areas.
FINANCE AND
ACCOUNTS
During the year,
the Company has incurred a capital expenditure of Rs.1033.000 Millions. The
amount of Rs 67.000 Millions transferred to Capital Reserve in lieu of Package
Scheme of Incentives 2007 (PSI 2007) and an amount of Rs 163.000 Millions had
been transferred to Reserves.
FIXED ASSETS
- Leasehold Land
- Buildings
- Plant and Machinery
- Furniture and Fittings
- Vehicles
- Computer Software
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. 61.92 |
|
|
1 |
Rs. 99.45 |
|
Euro |
1 |
Rs. 83.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.