MIRA INFORM REPORT
|
Report Date : |
10.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AGGREKO ENERGY RENTAL INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 501, The Chambers, Plot No. 4/12/13, Viman Nagar, Pune –
411014, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.08.2008 |
|
|
|
|
Com. Reg. No.: |
11-132669 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.162.575
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01122PN2008FTC132669 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA11204E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA2440E |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader, Exporter and Importer of Temperature Control Solutions, Diesel
Generator Equipments etc. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3200000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. Profitability of the company seems to be low during 2013. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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 : |
Mr. Nagesh |
|
Designation : |
Head of Supply Chain |
|
Contact No.: |
91-7798578602 |
|
Date : |
08.04.2014 |
LOCATIONS
|
Registered Office : |
Office No. 501, The Chambers, Plot No. 4/12/13, Viman Nagar, Pune –
411014, Maharashtra, India |
|
Tel. No.: |
91-20-66237300 |
|
Mobile No.: |
91-7875440434 (Mr. Abhijeet Kulkarni) 91-7798578602 (Mr. Nagesh) |
|
Fax No.: |
91-20-41282519/ 40192928 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office: |
404, Lunkad Sky Station, Plot no 109, Viman Nagar, Pune, India |
|
Tel. No.: |
91-20-40192900 |
|
|
|
|
Branch Office : |
Located at: · Delhi · Chennai |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Radhakrishnan Vishwanathan |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 2/A2/3C New Ajanta Avenue Paud Road, Pune – 411029,
Maharashtra, India |
|
Date of Birth/Age : |
31.12.1964 |
|
Date of Appointment : |
21.04.2012 |
|
DIN No.: |
05243420 |
|
|
|
|
Name : |
Mr. Debajit Das |
|
Designation : |
Director |
|
Address : |
House 129, Stevens Road, Singapore 257868 |
|
Date of Birth/Age : |
02.10.1968 |
|
Date of Appointment : |
09.04.2013 |
|
DIN No.: |
06493414 |
|
|
|
|
Name : |
Mr. Prabhakar Kesavan |
|
Designation : |
Director |
|
Address : |
9 Kew Crescent, Singapore 466367 |
|
Date of Birth/Age : |
10.05.1967 |
|
Date of Appointment : |
09.04.2013 |
|
DIN No.: |
06515401 |
KEY EXECUTIVES
|
Name : |
Mr. Nagesh |
|
Designation : |
Head of Supply Chain |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Aggreko Holdings Limited, |
1181664 |
72.68 |
|
Aggreko Rest of the World Holdings BV Limited, |
11936 |
0.73 |
|
Aggreko ( |
432149 |
26.58 |
|
Total |
1625749 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Temperature Control Solutions, Diesel
Generator Equipments etc. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
UAE ·
·
·
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
·
·
·
|
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Terms : |
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|
Selling : |
Cash and Credit |
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|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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|
|
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
HSBC Bank – Branch Panda Guarden, Pune, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
|
|
PAN No.: |
AABFL5878L |
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|
|
|
Holding Company : |
Aggreko Holdings Limited, U.K. |
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|
|
|
Fellow Subsidiaries : |
· Aggreko International Projects Limited U.K ·
Aggreko UK Manufacturing Limited · Aggreko Rest of World Holdings B.V ·
Aggreko Singapore Pte. Limited · Aggreko PLC |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8700000 |
Equity Shares |
Rs.100/- each |
Rs.870.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1625749 |
Equity Shares |
Rs.10/- each |
Rs.162.575 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 |
162.575 |
146.765 |
119.360 |
|
(b) Reserves & Surplus |
639.956 |
438.399 |
20.055 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
802.531 |
585.164 |
139.415 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
830.000 |
0.000 |
651.500 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.297 |
2.657 |
0.577 |
|
(d) long-term
provisions |
3.547 |
1.650 |
0.494 |
|
Total Non-current
Liabilities (3) |
833.844 |
4.307 |
652.571 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
12.093 |
80.000 |
46.000 |
|
(b) Trade payables |
98.404 |
89.954 |
195.153 |
|
(c) Other
current liabilities |
351.893 |
878.429 |
201.770 |
|
(d) Short-term
provisions |
0.691 |
0.736 |
15.019 |
|
Total Current
Liabilities (4) |
463.081 |
1049.119 |
457.942 |
|
|
|
|
|
|
TOTAL |
2099.456 |
1638.590 |
1249.928 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1756.385 |
1213.873 |
705.616 |
|
(ii)
Intangible Assets |
21.025 |
49.059 |
96.019 |
|
(iii) Capital
work-in-progress |
7.834 |
10.123 |
13.564 |
|
(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 |
17.357 |
26.541 |
|
(d) Long-term Loan and Advances |
18.284 |
50.912 |
26.122 |
|
(e) Other
Non-current assets |
0.383 |
0.588 |
0.205 |
|
Total Non-Current
Assets |
1803.911 |
1341.912 |
868.067 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
72.984 |
42.785 |
42.856 |
|
(c) Trade
receivables |
125.907 |
106.230 |
200.880 |
|
(d) Cash
and cash equivalents |
0.330 |
103.109 |
25.221 |
|
(e)
Short-term loans and advances |
62.097 |
24.494 |
5.831 |
|
(f) Other current
assets |
34.227 |
20.060 |
107.073 |
|
Total
Current Assets |
295.545 |
296.678 |
381.861 |
|
|
|
|
|
|
TOTAL |
2099.456 |
1638.590 |
1249.928 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
795.400 |
716.640 |
853.893 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
413.535 |
291.277 |
369.664 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
102.131 |
84.377 |
68.632 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
311.404 |
206.900 |
301.032 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
293.280 |
204.093 |
149.082 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
18.124 |
2.807 |
151.950 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.356 |
10.058 |
29.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
0.768 |
(7.251) |
122.395 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12.804 |
20.055 |
(102.340) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
13.572 |
12.804 |
20.055 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.47 |
(4.94) |
83.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
2.28 |
0.39 |
17.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.87 |
0.17 |
12.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.00 |
1.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.05 |
0.14 |
5.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.64 |
0.28 |
0.83 |
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 |
119.360 |
146.765 |
162.575 |
|
Reserves & Surplus |
20.055 |
438.399 |
639.956 |
|
Net
worth |
139.415 |
585.164 |
802.531 |
|
|
|
|
|
|
long-term borrowings |
651.500 |
0.000 |
830.000 |
|
Short term borrowings |
46.000 |
80.000 |
12.093 |
|
Total
borrowings |
697.500 |
80.000 |
842.093 |
|
Debt/Equity
ratio |
5.003 |
0.137 |
1.049 |
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 |
|
Sales |
853.893 |
716.640 |
795.400 |
|
|
|
(16.074) |
10.990 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
853.893 |
716.640 |
795.400 |
|
Profit |
122.395 |
(7.251) |
0.768 |
|
|
14.33% |
(1.01%) |
0.10% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITY OF LONG TERM DEBT:
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current Maturity of Long Term Debt |
0.000 |
736.500 |
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 |
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 |
BUSINESS
PERFORMANCE AND FUTURE OUTLOOK:
The Company recorded
an increase in the revenue by nearly 11% and the Profit before Depreciation,
Interest and Tax increased by nearly 42 %. The business had a better business
mix in the year under review and therefore the operating profitability of the
business improved from about 40% in the previous year to nearly 51% in the
current year. However Interest Cost and Depreciation have increased arising out
of the expansion plans that the company has undertaken regularly. Overall
Profit before Tax increased nearly 6 times as compared to the previous year.
However the profit after tax is impacted due to reversal of defer tax asset of
Rs.17.356 Millions.
The Investment and
Economic growth climate in the county has distinctly worsened due to host of
internal and external factors. This has affected the industrial sector
significantly and company’s performances have also been impacted. We are
experiencing subdued growth in project business where the company has a unique
position and competitiveness. The contribution from Depot business albeit
better than last year have not sufficiently compensated for slowness in Project
business. The company is taking all steps needed to boost sales and to improve
operational processes to achieve long term cost reduction.
There is no doubt
that the long term business prospects remain strong and that the demand for
power will continue to grow in India. The Central Government has also taken
several measures to give fillip to commencement of power projects that are
stuck due to a variety of reasons. Availability of power drives additional
investment leading to increased demand for temporary and standby power. The
management of the company remains optimistic of the growth potential of the
company and is using the current slowdown to prepare itself for meeting the
challenges of growth when it returns.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Term Loans from
Banks |
830.000 |
0.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Term Loans from
Banks |
0.000 |
60.000 |
|
Working Capital
Loans from Banks |
12.093 |
20.000 |
|
|
|
|
|
Total |
842.093 |
80.000 |
NO CHARGES EXIST
FOR COMPANY.
FIXED ASSETS:
Tangible Assets
· Plant and machinery
· Furniture and Office Equipment
· Leasehold Improvements
Intangible Assets
· Goodwill
· Non Competition Rights
· Dealer Relationships
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.60.07 |
|
|
1 |
Rs.100.56 |
|
Euro |
1 |
Rs.82.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.