MIRA
INFORM REPORT
|
Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
DURA AUTO SYSTEMS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat # 376 and 377/1, Satav Industrial
Estate, Behind Recold, Chakkan-Talegaon
Road, Kharabwadi, Pune-412501, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.04.2008 |
|
|
|
|
Com. Reg. No.: |
11-180927 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.986.273
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2008PTC180927 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automation Spare Parts. |
|
|
|
|
No. of Employees
: |
150 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1635000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
company has recorded accumulated losses from its operation. However, no
borrowings recorded by the company. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow. The company can be considered for business dealings with some
cautions. |
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000
denominations, pushing the deadline to January 1, 2015. A day before dates for
the Lok Sabha polls were
announced, the government decided to hike interest rates on fixed deposit
schemes offered by post offices up to 0.2 per cent. The new rates will be
effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s
appeal against a ruling over transferring ownership of its local mobile phones
plant which is the subject of a tax dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into
Hindustan Aeronautics Limited’s contracts from
Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau
of Investigation will look into allegations that over $80 million was paid in
kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a
solution for problems with state-owned Air India’s 787 Dreamliners.
The aircraft has experienced a series of malfunctions since its debut in 2011.
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 : |
Ms. Jyoti |
|
Designation : |
Export/Import Department |
|
Contact No.: |
91-2135-669822 |
|
Date : |
07.04.2014 |
LOCATIONS
|
Registered Office / Factory : |
Gat # 376 and 377/1, Satav Industrial
Estate, Behind Recold, Chakkan-Talegaon
Road, Kharabwadi, Pune-412501, Maharashtra,
India |
|
Tel. No.: |
91-2135-669822 |
|
Mobile No.: |
91-8888809303 (Mr. Sunil Tangwal) |
|
Fax No.: |
91-2135-669899 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Plot 2 and 3, First Floor, Ektha Towers, Kondapur, Hyderabad-500084, Andhra Pradesh, India |
|
Tel. No.: |
91-40-44327999 |
|
Fax No.: |
91-40-44327998 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Satwinder Singh |
|
Designation : |
Director |
|
Address : |
F/703, Mayurdhwaj Apartments, 60 IP
Extension, Parpargang, New Delhi-110092, India |
|
Date of Appointment : |
28.09.2011 |
|
DIN No. : |
00164903 |
|
|
|
|
Name : |
Mario Henrique Picarra
Buttino |
|
Designation : |
Director |
|
Address : |
AL JAU, 00161, AP, 111, Brazil |
|
Date of Appointment : |
04.07.2011 |
|
DIN No. : |
03542970 |
|
|
|
|
Name : |
Mr. James C Gregory |
|
Designation : |
Director |
|
Address : |
255, Guilford Road, Bloomfield Hills, MI, 48304, United State of
America |
|
Date of Appointment : |
16.12.2011 |
|
DIN No. : |
05113370 |
KEY EXECUTIVES
|
Name : |
Ms. Jyoti |
|
Designation : |
Export/Import Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Dura Operating LLC, Auburn Hills, MI, USA |
105565125 |
100.00 |
|
Dura Automotive Systems GmbH, Germany |
100 |
0.00 |
|
|
|
|
|
TOTAL
|
105565225 |
100.00 |
AS ON 30.09.2013
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automation Spare Parts. |
|
|
|
|
Exports : |
|
|
Products : |
Spare Parts |
|
Countries : |
·
Brazil ·
Germany |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
France ·
China ·
Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit [Depend] |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Shifter Systems |
Numbers |
164250 |
-- |
|
Cables |
Numbers |
164250 |
-- |
|
Tyre Carriers |
Numbers |
164250 |
22124* |
NOTE: * The actual production of tyre carriers has
commenced since 31 December 2010.
GENERAL INFORMATION
|
Customers : |
Others |
|
|
|
|
No. of Employees : |
150 [Approximately] |
|
|
|
|
Bankers : |
·
Royal Bank of Scotland, Pune
Branch, Maharashtra, India ·
State Bank of India, Kondapur,
Hyderabad, Andhra Pradesh, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company Chartered Accountant |
|
Address : |
3rd Floor, Uptown Banjara Hills,
Road No. 3, Banjara Hills, Hyderabad-500034, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-64528666 |
|
Fax No.: |
91-40-23540224 |
|
E-Mail : |
|
|
PAN No: |
AAAFW4298E |
|
|
|
|
Holding Company : |
Dura Operating LLC |
|
|
|
|
Fellow Subsidiaries : |
·
Dura Automotive Control Systems GMBH ·
DGS Automotive Systems (Shanghai) Company Limited
·
Dura Automotive Systems CZ/KOP ·
Dura Automotive Systems GMBH CSE-Einbeck ·
Dura Automotive Systems GMBH Daun ·
Dura Automotive Systems ROC ·
Dura Automotive Systems ·
Dura Automotive Systems Dusseldorf ·
Dura Automotive Body and Glass Systems GMBH ·
Dura Automotive Systems Romania Srl. ·
Dura Fremont USA ·
Dura Automotive Systems, Lemans ·
Dura Automotive Systems ·
Dura Automotive Services India Private Limited ·
Dura Gehren |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
140000000 |
Equity Shares |
Rs.10/- each |
Rs.1400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
105565225 |
Equity Shares |
Rs.10/- each
|
Rs.1055.652
Millions |
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
140000000 |
Equity Shares |
Rs.10/- each |
Rs.1400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
98627337 |
Equity Shares |
Rs.10/- each
|
Rs.986.273
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
986.273 |
434.927 |
119.160 |
|
(b) Reserves & Surplus |
(646.886) |
(403.631) |
(157.023) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
69.379 |
15.073 |
133.340 |
|
Total Shareholders’ Funds (1) + (2) |
408.766 |
46.369 |
95.477 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.980 |
1.838 |
1.576 |
|
Total Non-current Liabilities (3) |
0.980 |
1.838 |
1.576 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
166.145 |
181.530 |
230.292 |
|
(c) Other current liabilities |
21.337 |
277.410 |
57.093 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
187.482 |
458.940 |
287.385 |
|
|
|
|
|
|
TOTAL |
597.228 |
507.147 |
384.438 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible
assets |
165.952 |
128.653 |
68.732 |
|
(ii) Intangible Assets |
1.981 |
3.870 |
1.161 |
|
(iii) Capital work-in-progress |
3.740 |
16.970 |
40.524 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
8.114 |
31.299 |
15.997 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
179.787 |
180.792 |
126.414 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
105.946 |
114.789 |
81.214 |
|
(c) Trade receivables |
97.329 |
40.657 |
55.773 |
|
(d) Cash and cash equivalents |
65.008 |
57.909 |
30.008 |
|
(e) Short-term loans and advances |
132.164 |
87.101 |
40.535 |
|
(f) Other current assets |
16.994 |
25.899 |
50.494 |
|
Total Current Assets |
417.441 |
326.355 |
258.024 |
|
|
|
|
|
|
TOTAL |
597.228 |
507.147 |
384.438 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
485.341 |
335.692 |
103.622 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
728.907 |
582.300 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(206.267) |
(219.738) |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
Including Financial
Expenses and Depreciation |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(206.267) |
(219.738) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.988 |
26.870 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(243.255) |
(246.608) |
(157.864) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
(0.220) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(243.255) |
(246.608) |
(157.644) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Design Services |
0.000 |
0.000 |
32.297 |
|
|
|
Other Earnings |
0.000 |
1.397 |
0.000 |
|
|
TOTAL EARNINGS |
0.000 |
1.397 |
32.297 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
136.125 |
165.160 |
|
|
|
Capital Goods |
NA |
9.605 |
33.587 |
|
|
TOTAL IMPORTS |
NA |
145.730 |
198.747 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.47) |
(5.67) |
(13.23) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(50.12)
|
(73.46) |
(152.13) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(40.99)
|
(50.31) |
(45.90) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.60)
|
(5.32) |
(1.65) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.23
|
0.71 |
0.95 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
119.160 |
434.927 |
986.273 |
|
Reserves & Surplus |
(157.023) |
(403.631) |
(646.886) |
|
Net worth |
(37.863) |
31.296 |
339.387 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
103.622 |
335.692 |
485.341 |
|
|
|
223.958 |
44.579 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
103.622 |
335.692 |
485.341 |
|
Profit |
(157.644) |
(246.608) |
(243.255) |
|
|
(152.13%) |
(73.46%) |
(50.12%) |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.03.2013 [Rs.
in millions] |
31.03.2012 [Rs.
in millions] |
31.03.2011 [Rs.
in millions] |
|
|
|
|
|
|
Current Maturities
of Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
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
OPERATIONS:
During the year, the
company has registered a total Net income of Rs.
485.341 Millions as against a net Income of Rs.
335.692 Millions for the previous year. But due to increased Expenditure, the
Company has incurred a Net Loss of Rs. 243.255
Millions as against a Net Loss of Rs. 246.608
Millions for the previous year.
NOTE:
The registered office of the company has been shifted from
402/B, “Vikas”, 4th Floor, Top Floor, 11,
N.G.N. Vaidya Road, (Bank Street), Fort,
Mumbai-400001, Maharashtra, India to the present
address w.e.f. 28.02.2011.
COMPANY OVERVIEW:
Subject was incorporated as
a private limited company in India in accordance with the provisions of the
Companies Act, 1956 on 8 April 2008 with the primary objective of becoming an
independent manufacturer of driver control systems and structural body systems.
The Company is the subsidiary of Dura Operating LLC,
USA ('holding company,) and ultimate subsidiary of Dura
Automotive Systems, Inc., USA.
FIXED ASSETS:
·
Computers
·
Computer Software
·
Furniture and Fittings
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.59.95 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.