MIRA INFORM REPORT
|
Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
DANA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.278, Village Mann Hinjewadi, Taluka Mulshi, Pune – 411057,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.03.2000 |
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|
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|
Com. Reg. No.: |
11-015131 |
|
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|
Capital Investment
/ Paid-up Capital : |
Rs.88.199 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN2000PTC015131 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED01661C |
|
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PAN No.: |
AABCD1873A |
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|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Automotive Components and Ancillaries. |
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|
No. of Employees
: |
Information declined by the management |
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 |
|
|
Status : |
Moderate |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Not Available4 |
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Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are fair. Business is active. Payment terms
are 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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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 DENIED BY
|
Name : |
Mr. Manoj Agarwal |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-8805204300 |
|
Date : |
02.12.2014 |
LOCATIONS
|
Registered Office : |
Survey No.278, Village Mann Hinjewadi, Taluka Mulshi, Pune – 411057,
Maharashtra, India |
|
Tel. No.: |
91-20-30436000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
29, Pune Nasik Highway, Village Akurli Milestone, Taluka Khed, Pune, Maharashtra, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Chandrakant Somabhai Patel |
|
Designation : |
Director |
|
Address : |
Sairang Heavens, Kate Wasti Road, Pimple Saudagar, Aundh Camp, Pune –
411027, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1939 |
|
Date of Appointment : |
05.04.2000 |
|
DIN No.: |
00028753 |
|
|
|
|
Name : |
Mr. Saket Sapra |
|
Designation : |
Additional Director |
|
Address : |
Hotel Oakwood Premier, 81, Mundhwa, Koregaon Park Annex, Pune –
411036, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1971 |
|
Date of Appointment : |
25.01.2013 |
|
DIN No.: |
05154694 |
|
|
|
|
Name : |
Robert David Pyle |
|
Designation : |
Director |
|
Address : |
No.4, Gao An Road, Xuhui District, Shanghai 200030 |
|
Date of Birth/Age : |
12.12.1966 |
|
Date of Appointment : |
20.06.2013 |
|
DIN No.: |
03622775 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Dana World Trade Corporation, |
4819860 |
|
Dana |
4000000 |
|
|
|
|
Total
|
8819860 |
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Components and Ancillaries |
|
|
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|
Products : |
|
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|
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|
Brand Names : |
-- |
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|
|
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Agencies Held : |
-- |
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|
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Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
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|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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|
|
|
Customers : |
Not Divulged |
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|
|
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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|
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Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
|
|
PAN.: |
AAEPP5579P |
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Holding Company : |
Dana World Trade Corporation, USA |
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|
Ultimate Holding
Company : |
Dana Holding Corporation, Delaware |
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|
|
|
Fellow Subsidiaries : |
CIN No.: U34300MH1993PLC073227
CIN No.: U74210PN2001PTC129657 |
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|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Dana Italia, Spa |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8819860 |
Equity Shares |
Rs.10/- each |
Rs.88.199
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
88.199 |
88.199 |
88.199 |
|
(b) Reserves & Surplus |
512.017 |
639.238 |
597.718 |
|
(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) |
600.216 |
727.437 |
685.917 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
620.000 |
620.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
10.908 |
7.988 |
7.538 |
|
(d) long-term provisions |
23.719 |
12.756 |
8.438 |
|
Total Non-current Liabilities
(3) |
654.627 |
640.744 |
15.976 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
924.735 |
958.437 |
285.761 |
|
(c) Other current liabilities |
167.293 |
75.552 |
7.884 |
|
(d) Short-term provisions |
23.289 |
32.929 |
4.291 |
|
Total Current
Liabilities (4) |
1115.317 |
1066.918 |
297.936 |
|
|
|
|
|
|
TOTAL |
2370.160 |
2435.099 |
999.829 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
258.034 |
272.836 |
159.797 |
|
(ii) Intangible Assets |
301.945 |
409.557 |
0.381 |
|
(iii) Capital work-in-progress |
0.135 |
0.838 |
0.000 |
|
(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 |
29.915 |
11.163 |
|
(d) Long-term Loan and Advances |
78.702 |
45.477 |
30.490 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
638.816 |
758.623 |
201.831 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
341.820 |
447.300 |
211.786 |
|
(c) Trade receivables |
968.344 |
961.899 |
335.298 |
|
(d) Cash and cash equivalents |
306.403 |
200.130 |
197.846 |
|
(e) Short-term loans and advances |
114.248 |
66.745 |
49.737 |
|
(f) Other current assets |
0.529 |
0.402 |
3.331 |
|
Total Current
Assets |
1731.344 |
1676.476 |
797.998 |
|
|
|
|
|
|
TOTAL |
2370.160 |
2435.099 |
999.829 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
3605.000 |
3245.000 |
1577.000 |
|
|
|
|
Other Income |
35.000 |
5.000 |
14.000 |
|
|
|
|
TOTAL |
3640.000 |
3250.000 |
1591.000 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
|
TOTAL |
3737.000 |
3166.000 |
1411.000 |
|
|
|
|
|
|
|
||
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(97.000) |
84.000 |
180.000 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
30.000 |
42.000 |
31.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/ (LOSS)
AFTER TAX |
(127.000) |
42.000 |
149.000 |
||
|
|
|
|
|
|
||
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
574.000 |
532.000 |
384.000 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
447.000 |
574.000 |
533.000 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
|
|
|
786.822 |
|
|
|
|
Tooling Income |
|
|
4.477 |
|
|
|
TOTAL EARNINGS |
1269.000 |
1053.000 |
791.299 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
|
|
|
312.194 |
|
|
|
|
Capital Goods |
|
|
0.991 |
|
|
|
TOTAL IMPORTS |
NA |
NA |
313.185 |
||
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(14.40) |
4.76 |
16.90 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(3.49)
|
1.29
|
9.36
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.69)
|
2.59
|
11.41
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.09)
|
3.49
|
18.21
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16)
|
0.12
|
0.26
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.03
|
0.85
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.57
|
2.68
|
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 |
88.199 |
88.199 |
88.199 |
|
Reserves & Surplus |
597.718 |
639.238 |
512.017 |
|
Net
worth |
685.917 |
727.437 |
600.216 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
620.000 |
620.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
620.000 |
620.000 |
|
Debt/Equity
ratio |
0.000 |
0.852 |
1.033 |
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 |
1577.000 |
3245.000 |
3605.000 |
|
|
|
105.770 |
11.094 |
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 |
1577.000 |
3245.000 |
3605.000 |
|
Profit / (Loss) |
149.000 |
42.000 |
(127.000) |
|
|
9.45% |
1.29% |
(3.52%) |
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 |
Yes |
|
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 |
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] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN 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 |
OPERATIONS
FY 2012-13 was a challenging year for the economy both globally and in India. The world economy grew by a mere 3.1% in 2012 as compared to 3.9% in the previous year. The domestic situation in India was influenced by these global trends and the ripple effect of a global slowdown was felt. After years of strong positive growth, the Indian economy slowed down to a GDP of 5% from 6.5% in the previous year.
Despite global slowdown, OH Division of the Company has registered a growth of 4% in terms of sales and profit has increased from 7.7% in FY 2011-12 to 7.9% in FY 2012-13.
Weak macro-economic factors leading to a continued slow-down in the Medium and Heavy Commercial Vehicles (M&HCV), stiff competition, severely affected the operations and profitability.
Slowdown in economic activity, sluggish infrastructure spending and weak macro outlook coupled with higher operating costs for transport operators, adversely impacted demand in the M&HCV industry. The M&HCV segment which is the harbinger for growth in the economy de-grew by 23.3% in the year.
The Company has registered revenues of Rs. 3603.000 millions, a growth of 11% over the previous year. However, the positive impact of highe0072 volumes and various cost control initiatives were negated by the following:
Lower capacity utilization due to overall slowdown in automobile sector.
- Full year impact of finance cost (Rs. 86.000 Millions) on acquisitio n of assets of drive head division amounting to Rs. 620.000 millions. Previous year interest on debentures was only (Rs. 24.000 Millions) for 101 days (from the date of allotment of debentures i.e. 20 Dec 2011).
- Transfer pricing adjustments amounting to Rs. 82.000 millions from Dana Italy.
- Increased allocation of administration charges amounting to Rs. 109.000 millions.
W.e.f. 1 April 2012, the Company has entered into a Trademark and License agreement with Dana Corporation for use of Dana registered trademark against payment of royalty charges. The royalty charges for the year amounted to Rs. 26.000 millions.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Fully convertible debentures others |
620.000 |
620.000 |
|
|
|
|
|
Total |
620.000 |
620.000 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10357822 |
10/05/2012 |
400,000,000.00 |
CITIBANK N.A. |
1ST FLOOR, ONYX TOWER, KOREGAON PARK, PUNE, MAHARASHTRA - 411001, INDIA |
B40490567 |
|
2 |
10093616 |
27/10/2010 * |
50,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A99075418 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
- Leasehold Improvements
Intangible Assets
- Computer Software
- Know-how
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.62.14 |
|
|
1 |
Rs.97.05 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
YES |
|
--LITIGATION |
YES/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 |
|
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.