MIRA
INFORM REPORT
|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
PUTZMEISTER CONCRETE MACHINES PRIVATE LIMITED (w.e.f. 28.01.2008) |
|
|
|
|
Formerly Known
As : |
DYNAJET MACHINERY INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. N4, Phase IV, Verna Industrial Estate, Verna, Salcete, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
14.06.2005 |
|
|
|
|
Com. Reg. No.: |
24-004057 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.325.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120GA2005PTC004057 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD2090G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is in the
business of manufacturing and trading of concrete pumps and its parts and
sub-assemblies. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
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|
|
Comments : |
Subject is a subsidiary of “Putzmeister Concrete Pumps GmbH, Germany”.
It is an established company having satisfactory track. There seems some accumulated losses recorded by the company during
2013. The profitability is under pressure. However, the ratings also take into consideration, the improving
market position of the subject in the high pressure concrete pump segment,
strong brand name and acceptable financial risk profile. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption
drive. Chanos believes that many things such as apartment sales, luxury
products, etc. were largely bought with dirty money. And it is now beginning to
impact consumption. This may indeed be bad news for an economy that is
struggling to transition from an investment-driven export-oriented economy to a
domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20%! Equities came in second with annualized
return of 15.5%! However, while these returns may seem mouthwatering, the fact
is that the return from equities adjusted for inflation came down to just 7.1
%.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs.10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating : “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
22.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating : “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
22.10.2013 |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Gautam Mahambreg |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-832-6696000 |
|
Date : |
05.08.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. N4, Phase IV, Verna Industrial Estate, Verna, Salcete, Goa –
403 722, India |
|
Tel. No.: |
91-832-6696000 |
|
Fax No.: |
91-832-6696300 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
67000 sq. m. |
|
Location : |
Owned |
|
|
|
|
Service Locations : |
Located
at: Bangalore Delhi Jamnagar Hyderabad Mumbai |
DIRECTORS
AS ON 23.09.2013
|
Name : |
Mr. Wilfried Andre Theissen |
|
Designation : |
Managing Director |
|
Address : |
House No. ADG/31-21, Aldeida De Goa, Near ETDC, Nauxim, Bambolim, Goa
– 403 206, India |
|
Date of Birth/Age : |
20.12.1959 |
|
Qualification : |
Degree
in management |
|
Experience : |
26
Years |
|
Date of Appointment : |
26.03.2012 |
|
DIN No. : |
05310584 |
|
PAN No.: |
CJNPS3901G |
|
|
|
|
Name : |
Gerald Ernst Karch |
|
Designation : |
Director |
|
Address : |
Schwabisch Gmund, Sandweb 63, NA Germany 73527 |
|
Date of Birth/Age : |
10.01.1964 |
|
Date of Appointment : |
09.08.2013 |
|
DIN No. : |
06693375 |
KEY EXECUTIVES
|
Name : |
Mr. Gautam Mahambreg |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Putzmeister Concrete Pumps GmbH, Germany |
|
32499999 |
|
Stabau GmbH, Germany |
|
1 |
|
Total
|
|
32500000 |
AS ON 23.09.2013
|
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 : |
Subject is in the
business of manufacturing and trading of concrete pumps and its parts and
sub-assemblies. |
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Products : |
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Exports : |
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Products : |
·
Concrete Pumps |
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Countries : |
·
South East Asia |
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Imports : |
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Products : |
·
Raw Materials |
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Countries : |
·
Europe |
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Terms : |
|
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
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|
||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited Landmark Race Cource Circle, Alkapuri, Vadodara – 390 015, Gujarat, India Deutsche Bank AG State Bank of India HDFC Bank Limited |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.B.S.R. and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall Clinic, Bund Garden Road, Pune – 411 001, Maharashtra, India |
|
PAN No. : |
AAKFB4397F |
|
|
|
|
Holding Company: |
Putzmeister Concrete Pumps GmbH, Germany (holds 99.99% of the equity share capital) |
|
|
|
|
Ultimate holding
Company: |
·
Putzmeister Holding GmbH (till 16th April, 2012) ·
Sany Group Co Limited (w.e.f 16th April, 2012) |
|
|
|
|
Fellow Subsidiary Companies: |
·
Putzmeister Engineering GmbH, Germany Putzmeister France, France Putzmeister South Africa (PTY)
Limited, South Africa Putzmeister Inc America, United
States Putzmeister Turkey, Turkey Putzmeister Mortelmaschinen
GmbH, Germany Putzmeister Machinery
(Shanghai) Company Limited, China Putzmeister Korea Company
Limited Putzmeister Solid Pumps GmbH,
Germany Putzmeister South East Asia CT
Pte Limited, Singapore Putzmeister AG-Bangalore, India
Putzmeister Japan Company
Limited, Japan Putzmeister Concrete Pumps
India Private Limited, India (CIN No.: U29253GA2011FTC006831)
Putzmeister (Shanghai)
Management Company, China Putzmeister Brazil Limited, Brazil Sany Heavy Industry India Private Limited,
India (CIN No.: U45201DL2002PTC117856) Sany Heavy Industry Co Limited, China Putzmeister AG Germany, Germany Putzmeister South Africa, South Africa |
CAPITAL STRUCTURE
AS ON 23.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
65000000 |
Equity Shares |
Rs.10/- each |
Rs.650.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32500000 |
Equity Shares |
Rs.10/- each |
Rs.325.000
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 |
325.000 |
325.000 |
325.000 |
|
(b) Reserves & Surplus |
(171.339) |
(78.265) |
(55.200) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
238.000 |
238.000 |
238.000 |
|
Total
Shareholders’ Funds (1) + (2) |
391.661 |
484.735 |
507.800 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
59.568 |
79.424 |
99.300 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
6.300 |
|
(d) Long-term
provisions |
8.640 |
6.874 |
4.000 |
|
Total Non-current
Liabilities (3) |
68.208 |
86.298 |
109.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
783.337 |
179.848 |
61.500 |
|
(b)
Trade payables |
312.719 |
1181.435 |
778.700 |
|
(c)
Other current liabilities |
83.917 |
164.077 |
92.500 |
|
(d) Short-term
provisions |
18.380 |
22.052 |
19.100 |
|
Total Current
Liabilities (4) |
1198.353 |
1547.412 |
951.800 |
|
|
|
|
|
|
TOTAL |
1658.222 |
2118.445 |
1569.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
463.134 |
477.103 |
408.300 |
|
(ii)
Intangible Assets |
37.136 |
1.342 |
1.900 |
|
(iii) Capital
work-in-progress |
2.707 |
0.000 |
0.000 |
|
(iv) Intangible assets under development or
work-in-progress |
0.000 |
14.293 |
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 |
22.903 |
25.412 |
13.000 |
|
(e) Other
Non-current assets |
0.045 |
0.025 |
0.000 |
|
Total Non-Current
Assets |
525.925 |
518.175 |
423.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
628.687 |
1019.561 |
687.100 |
|
(c)
Trade receivables |
325.030 |
354.972 |
269.000 |
|
(d) Cash
and cash equivalents |
5.131 |
4.568 |
23.300 |
|
(e) Short-term
loans and advances |
173.449 |
221.169 |
166.600 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1132.297 |
1600.270 |
1146.000 |
|
|
|
|
|
|
TOTAL |
1658.222 |
2118.445 |
1569.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
2350.900 |
2445.100 |
1777.200 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
(22.800) |
124.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
0.253 |
19.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(93.074) |
(23.053) |
104.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB
value of exports |
327.683 |
290.697 |
|
|
|
|
Commission
income |
0.000 |
20.191 |
|
|
|
TOTAL EARNINGS |
327.683 |
310.888 |
115.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
1.710 |
43.645 |
NA |
|
|
|
Trading Goods |
138.791 |
152.633 |
NA |
|
|
|
Raw Materials |
283.572 |
1288.913 |
NA |
|
|
TOTAL IMPORTS |
424.073 |
1485.191 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.86) |
(0.71) |
3.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(1.08)
|
7.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
(0.05)
|
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.15 |
0.53
|
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94 |
1.03
|
1.20 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
325.000 |
325.000 |
325.000 |
|
Reserves & Surplus |
(55.200) |
(78.265) |
(171.339) |
|
Share Application money pending allotment |
238.000 |
238.000 |
238.000 |
|
Net worth |
507.800 |
484.735 |
391.661 |
|
|
|
|
|
|
Long-term borrowings |
99.300 |
79.424 |
59.568 |
|
Short term borrowings |
61.500 |
179.848 |
783.337 |
|
Total borrowings |
160.800 |
259.272 |
842.905 |
|
Debt/Equity ratio |
0.317 |
0.535 |
2.152 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Turnover |
1777.200 |
2445.100 |
2350.900 |
|
|
|
37.582 |
(3.853) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Turnover |
1777.200 |
2445.100 |
2350.900 |
|
Profit |
104.700 |
(23.053) |
(93.074) |
|
|
5.89% |
(0.94%) |
(3.96%) |
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 |
19.856 |
19.856 |
19.900 |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10309820 |
24/08/2011 |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARK RACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B22394753 |
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
59.568 |
79.424 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Working
capital loans from banks |
|
|
|
Cash
Credit from Banks |
672.323 |
76.597 |
|
Buyers'
Credit from Banks |
23.817 |
31.561 |
|
Total
|
755.708 |
187.582 |
COMPANY BACKGROUND:
Putzmeister Concrete
Machines Private Limited (earlier known as Dynajet Machinery India Private
Limited) was incorporated on 14 June 2005 by two Indian shareholders under the Indian
Companies Act 1956. Putzmeister Concrete Pumps GmbH (earlier Putzmeister AG)
invested in the Company in July 2005 and the Company became a subsidiary of
Putzmeister Concrete Pumps GmbH with effect from 22nd July, 2005.
The Company’s manufacturing facility is located at Verna Industrial Estate,
Goa. The Company is in the business of manufacturing and trading of concrete
pumps and its parts and sub- assemblies.
FIXED ASSETS
Tangible assets
Land
Buildings
Factory
Building
Plant
and Equipment
Factory
Equipments
Furniture
and Fixtures
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
Intangible Assets
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 records 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.60.87 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
45 |
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.