MIRA
INFORM REPORT
|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GOODYEAR SOUTH ASIA TYRES PRIVATE LIMITED (w.e.f. 26.11.2001) |
|
|
|
|
Formerly Known
As : |
SOUTH ASIA TYRES PRIVATE LIMITED (w.e.f. 07.09.2001) SOUTH ASIA TYRES LIMITED |
|
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|
|
Registered
Office : |
Plot No. H-18,
MIDC Industrial Area, Waluj, |
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Country : |
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|
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Financials (as
on) : |
31.03.2013 |
|
|
|
|
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 |
|
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|
|
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 (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “THE GOODYEAR TIRE AND RUBBER COMPANY”. It
is an established having satisfactory track record. There seems consecutive dip in profitability of the company during the
financial year 2013. However, the rating takes in to consideration financial and managerial
support that company receives from its parent company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of strong holding support, the company can be considered for
business dealings at usual trade terms and condition. |
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
N E W S
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 their 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 tat 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.
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 DECLINED
MANAGEMENT NON CO-OPERATIVE (91-240-2564092)
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 : |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Rajeev Anand |
|
Designation : |
Director |
|
Address : |
Plot No. 17, 1st Floor, Pocket – II, Jasola Vihar, Behind
Apollo Hospital, New Delhi – 110025, India |
|
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 Road [M],
Shanghai, China - 200031 |
|
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 : |
1, Lane 600, Central Yincheng Road Unit 7301, Building 7, Lujiazui
Pudong District, Shanghai, China 200120 |
|
Date of Birth/Age : |
02.03.1967 |
|
Date of Appointment : |
17.07.2012 |
|
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 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Name
of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
The Goodyear Tire and Rubber
Company (USA) |
512387250 |
97.83 |
|
Goodyear Orient Company Private
Limited (Singapore) |
11340000 |
2.17 |
|
Total |
523727250 |
100.00 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
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 |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
Not Divulged |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Building No.8, 7th Floor, Tower B, |
|
PAN
No. : |
AADFP9359C |
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|
|
|
Holding Company : |
The Goodyear Tire and Rubber Company, United States |
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|
|
|
Fellow Subsidiaries : |
· Goodyear India Limited CIN No.: L25111HR1961PLC008578 Goodyear S.A., Luxembourg 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 Dunlop Tires, France Goodyear Singapore Tires Goodyear Innovation Centre, Luxembourg Goodyear Tire Management Company, Singapore Goodyear Dunlop Tires, Germany |
CAPITAL STRUCTURE
As on 31.03.2013
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 |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
5237.300 |
5237.300 |
5237.300 |
|
(b) Reserves & Surplus |
598.300 |
393.000 |
163.500 |
|
(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) |
5835.600 |
5630.300 |
5400.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
327.600 |
182.100 |
55.500 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
125.100 |
107.100 |
80.800 |
|
Total
Non-current Liabilities (3) |
452.700 |
289.200 |
136.300 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1158.700 |
1127.300 |
894.900 |
|
(c) Other current liabilities |
169.300 |
158.000 |
144.900 |
|
(d) Short-term provisions |
16.500 |
12.200 |
21.300 |
|
Total
Current Liabilities (4) |
1344.500 |
1297.500 |
1061.100 |
|
|
|
|
|
|
TOTAL |
7632.800 |
7217.000 |
6598.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4262.100 |
4229.300 |
3621.600 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
490.700 |
232.500 |
338.800 |
|
(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 |
750.100 |
684.500 |
771.000 |
|
(e) Other Non-current assets |
70.300 |
67.200 |
0.000 |
|
Total
Non-Current Assets |
5573.200 |
5213.500 |
4731.400 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
819.600 |
647.000 |
686.400 |
|
(c) Trade receivables |
889.400 |
773.400 |
515.900 |
|
(d) Cash and cash equivalents |
227.500 |
441.300 |
556.400 |
|
(e) Short-term loans and advances |
92.700 |
119.400 |
92.000 |
|
(f) Other current assets |
30.400 |
22.400 |
16.100 |
|
Total
Current Assets |
2059.600 |
2003.500 |
1866.800 |
|
|
|
|
|
|
TOTAL |
7632.800 |
7217.000 |
6598.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
7193.300 |
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
7193.300 |
7113.600 |
5345.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
6385.000 |
6360.500 |
4449.000 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
808.300 |
753.100 |
896.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.900 |
19.100 |
9.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
801.400 |
734.000 |
887.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
499.800 |
444.800 |
396.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
301.600 |
289.200 |
491.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
181.400 |
126.600 |
56.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
120.200 |
162.600 |
435.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Other Earnings |
70.200 |
45.600 |
23.040 |
|
|
TOTAL EARNINGS |
70.200 |
45.600 |
23.040 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2126.000 |
1999.600 |
1274.400 |
|
|
|
Stores & Spares |
37.100 |
37.600 |
36.500 |
|
|
|
Capital Goods |
485.300 |
497.200 |
351.000 |
|
|
|
Others |
606.400 |
204.100 |
236.306 |
|
|
TOTAL IMPORTS |
3254.800 |
2738.500 |
1898.206 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.23 |
0.31 |
0.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.67 |
2.29 |
8.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.16 |
4.14 |
7.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.05 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53 |
1.54 |
1.76 |
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 |
5237.300 |
5237.300 |
5237.300 |
|
Reserves & Surplus |
163.500 |
393.000 |
598.300 |
|
Net
worth |
5400.800 |
5630.300 |
5835.600 |
|
|
|
|
|
|
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 |
5345.000 |
7113.600 |
7193.300 |
|
|
|
33.089 |
1.120 |
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 |
5345.000 |
7113.600 |
7193.300 |
|
Profit |
435.000 |
162.600 |
120.200 |
|
|
8.14% |
2.29% |
1.67% |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
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 |
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
GENERAL
INFORMATION
The Company is engaged in the 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. 7113.600 millions in the
previous year to Rs. 7193.300 millions. The depreciation amounted to Rs.499.800
millions.
In OTR category,
the Company has been awarded Platinum Certificate by Caterpillar India Private
Limited on being approved for Caterpillar Supplier Quality Excellence Process
Recertification.
FINANCE AND ACCOUNTS
During the year,
the Company has incurred a capital expenditure of Rs 821.800 millions. The
amount of Rs 85.100 millions has been transferred to Capital Reserve in lieu of
Package Scheme of Incentives 2007 (PSI 2007) and an amount of Rs 120.200
millions has been transferred to Reserves.
FIXED ASSETS
· Land
Buildings
Plant
and equipment
Furniture
and fixtures
Vehicles
Office
equipment
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.60.44 |
|
|
1 |
Rs. 100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.