MIRA
INFORM REPORT
|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
HYDROGENICS |
|
|
|
|
Registered Office : |
Nijverheidsstraat 48-Bus C, 2260 Westerlo |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
12.12.2000 |
|
|
|
|
Com. Reg. No.: |
473539251 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in developing and manufacturing integrated PEM Fuel Cell Systems, Hydrogen Generators and
Renewable Energy Solutions. |
|
|
|
|
No of Employees : |
62 (31.12.2013) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Belgium |
A1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Belgium ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based
economy has capitalized on its central geographic location, highly developed
transport network, and diversified industrial and commercial base. Industry is
concentrated mainly in the more heavily-populated region of Flanders in the
north. With few natural resources, Belgium imports substantial quantities of
raw materials and exports a large volume of manufactures, making its economy
vulnerable to volatility in world markets. Roughly three-quarters of Belgium's
trade is with other EU countries, and Belgium has benefited most from its
proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the unemployment rate
increased to 8.8% from 7.6% the previous year, and the government reduced the
budget deficit from a peak of 6% of GDP in 2009 to 3.2%. Despite the relative
improvement in Belgium's budget deficit, public debt hovers around 100% of GDP,
a factor that has contributed to investor perceptions that the country is
increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks
were severely affected by the international financial crisis in 2008 with three
major banks receiving capital injections from the government, and the
nationalization of the Belgian retail arm of a Franco-Belgian bank.
|
Source : CIA |
Company summary
Business number 473539251
Company name HYDROGENICS EUROPE
NV
Address NIJVERHEIDSSTRAAT
48-BUS C
2260 WESTERLO
Number of staff 62 (31.12.2013)
Date of establishment 12/12/2000
Telephone number 014462110
Fax number 014462111
Commentary
|
The business was established over 13 years ago. |
|
|
The business has 67 employees. |
|
|
The business has been at the address for over 12 years. |
|
|
Net Worth decreased by 92% during the latest trading period. |
|
|
A 25% decline in Total Assets occurred during the latest trading
period. |
|
Accounts
DATE OF LATEST
ACCOUNTS TURNOVER
PROFIT BEFORE TAX NET WORTH WORKING CAPITAL
31/12/2013 17,179,291
-1,578,976 120,178 1,559,020
31/12/2012 20,268,753
-1,863,500 1,694,189 2,303,512
31/12/2011 13,533,591
-977,682 1,641,313 1,787,212
Accounts
DATE OF LATEST
ACCOUNTS BALANCE
TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2013 11,666,251
62 35,675,000
-1,372,740
31/12/2012 15,667,441
64 35,675,000 -1,552,067
31/12/2011 13,357,792
53 33,761,500
-647,596
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment expectations
Payment expectation days 37.16
Industry average payment expectation days 103.60
Industry average day sales outstanding 111.97
Day sales outstanding 32.90
Company information
|
Business number |
473539251 |
Company name |
HYDROGENICS EUROPE NV |
|
Fax number |
014462111 |
Date founded |
12/12/2000 |
|
Company status |
active |
Company type |
Public Limited Liability Company (BE) |
|
Currency |
Euro (€) |
Date of latest accounts |
31/12/2013 |
|
Activity description |
Engaged in developing and manufacturing integrated PEM Fuel Cell Systems, Hydrogen Generators and Renewable Energy Solutions. |
Liable for VAT |
yes |
|
Belgian Bullettin of Acts Publications |
moniteur belge |
VAT Number |
BE.0473.539.251 |
Joint Industrial Committee
(JIC)
JIC Code 111
Description JC for the metal,
machinery and electrical construction
category
JIC Code 209
Description Joint committee
for the employees off the metal industry
category
Significant Events
Event Date 29/06/2011
Event Description authority appointed
Event Details Commentaar 29-06-2011: Toekenning bijzondere volmacht aan Sampermans
Mieke en
Smeets Filip alleen optredend
te vertegenwoordigen en te verbinden bij
alle hierna vermelde handelingen of reeks van
samenhangende handelingen voorzover zij het
Event Date 29/06/2011
Event Description authority
appointed
Event Details bedrag van 30000 euro niet overschrijden.
Company accounts
|
Annual
accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Assets
|
|
|
|
|
|
|
|
|
|
|
Total
fixed assets |
544,482 |
1.55 |
536,150 |
-29.11 |
756,356 |
-13.37 |
873,088 |
-32.55 |
1,294,340 |
|
Intangible
fixed assets |
3,925 |
-54.14 |
8,560 |
-27.25 |
11,766 |
- |
0 |
- |
0 |
|
Tangible
fixed assets |
524,790 |
2.51 |
511,959 |
-30.16 |
733,034 |
-14.29 |
855,268 |
-32.55 |
1,268,018 |
|
Plant
& machinery |
369,880 |
-8.68 |
405,021 |
-36.37 |
636,514 |
-14.65 |
745,735 |
1.16 |
737,178 |
|
Furniture
& Vehicles |
39,967 |
-22.41 |
51,509 |
30.26 |
39,544 |
14.44 |
34,555 |
-54.90 |
76,618 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
- |
4,077 |
-70.59 |
13,861 |
|
Other
tangible assets |
114,943 |
107 |
55,430 |
-2.71 |
56,976 |
-19.64 |
70,902 |
-83.90 |
440,361 |
|
Financial
fixed assets |
15,767 |
0.87 |
15,631 |
35.27 |
11,555 |
-35.15 |
17,820 |
-32.30 |
26,322 |
|
Total
current assets |
11,121,769 |
-26.50 |
15,131,291 |
20.08 |
12,601,437 |
26.37 |
9,972,090 |
-17.25 |
12,050,251 |
|
Inventories |
5,188,382 |
-18.44 |
6,361,571 |
7.74 |
5,904,495 |
9.38 |
5,398,183 |
-27.11 |
7,405,578 |
|
Raw
materials & consumables |
3,550,319 |
45.31 |
2,443,200 |
74.58 |
1,399,461 |
-3.94 |
1,456,834 |
-3.70 |
1,512,780 |
|
Work
in progress |
1,146,113 |
-57.97 |
2,727,218 |
-10.80 |
3,057,504 |
-22.16 |
3,927,792 |
10.93 |
3,540,898 |
|
Finished
goods |
0 |
-100 |
912,298 |
-1.45 |
925,687 |
- |
0 |
-100 |
2,217,519 |
|
Other
stocks |
491,950 |
76.42 |
278,855 |
-46.56 |
521,843 |
3749 |
13,557 |
-89.91 |
134,380 |
|
Trade
debtors |
1,548,263 |
-45.58 |
2,844,786 |
-14.54 |
3328,645 |
28.65 |
2,587,366 |
-12.20 |
2,946,725 |
|
Other
amounts receivable |
504,622 |
-23.44 |
659,150 |
44.80 |
455,226 |
21.15 |
374,654 |
126 |
165,393 |
|
Cash |
2,572,351 |
-4.80 |
2,702,014 |
55.08 |
1,742,323 |
79.41 |
971,166 |
30.58 |
743,726 |
|
Miscellaneous
Current assets |
1,308,151 |
-48.98 |
2,563,769 |
118 |
1,170,749 |
82.72 |
226,407 |
-18.78 |
788,829 |
|
Total
assets |
11,666,251 |
-25.54 |
15,667,441 |
17.29 |
13,357,792 |
23.17 |
10,845,178 |
-18.73 |
13,344,592 |
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
Total
shareholder equity |
124,103 |
-92.71 |
1,702,749 |
3.00 |
1,653,079 |
-37.16 |
2,630,762 |
-36.93 |
4,172,960 |
|
Issued
share capital |
35,675,000 |
0 |
35,675,000 |
5.67 |
33,761,500 |
0 |
33,761,500 |
0 |
33,761,500 |
|
Reserves |
-35,550,897 |
-4.65 |
-33,972,251 |
-5.80 |
-32,108,421 |
-3.14 |
-31,130,738 |
-5.21 |
-29,590,540 |
|
Provisions
for Liabilities & Charges |
1,979,398 |
74.10 |
1,136,913 |
27.67 |
890,489 |
-28.19 |
1,240,084 |
-24.28 |
1,637,665 |
|
Creditors |
9,562,749 |
-25.45 |
12,827,779 |
18.62 |
10,814,224 |
55.06 |
6,974,332 |
-7.45 |
7,535,966 |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
long term debts |
1,979,398 |
74.10 |
1,136,913 |
27.67 |
890,489 |
-28.19 |
1,240,084 |
-24.28 |
1,637,665 |
|
Trade
creditors |
1,900,259 |
-38.20 |
3,074,609 |
-26.07 |
4,158,654 |
80.47 |
2,304,300 |
-9.39 |
2,543,099 |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
576,869 |
29.66 |
444,911 |
9.45 |
406,504 |
-14.25 |
474,064 |
9.67 |
432,245 |
|
Miscellaneous
current liabilities |
7,085,621 |
-23.88 |
9,308,259 |
48.95 |
6,249,066 |
48.93 |
4,195,969 |
-8.00 |
4,560,623 |
|
Total
current liabilities |
9,562,749 |
-25.45 |
12,827,779 |
18.62 |
10,814,224 |
55.06 |
6,974,332 |
-7.45 |
7,535,966 |
|
Total
Liabilities |
11,666,251 |
-25.54 |
15,667,441 |
17.29 |
13,357,792 |
23.17 |
10,845,178 |
-18.73 |
13,344,592 |
Ratio Anaylsis
|
Annual accounts |
31.12.2013 |
%
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
% |
31.12.2009 |
||
|
TRADING PERFORMANCE |
||||||||||
|
Profit Before Tax |
-9.19 |
0 |
-9.19 |
-27.29 |
-7.22 |
52.02 |
-13.88 |
51.01 |
-27.21 |
|
|
Return on capital employed |
-75.06 |
-14.39 -65.62 |
-70.71 |
-38.44 |
96.88 |
-39.68 |
-5.56 |
-37.59 |
||
|
Return on total assets
employed |
-13.53 |
-13.79 -11.89 |
-62.43 |
-7.32 |
51.69 |
-14.16 |
86.55 |
-16.36 |
||
|
Return on net assets
employed |
-1,272.31 |
-1062 |
-109.44 |
-85.05 |
-59.14 |
-1.28 |
-58.39 |
-11.54 |
-52.35 |
|
|
Sales / net working capital |
11.02 |
25.23 |
8.80 |
16.25 |
7.57 |
105 |
3.69 |
107 |
1.78 |
|
|
Stock turnover ratio |
30.20 |
-3.79 |
31.39 |
-28.05 |
43.63 |
-10.56 |
48.78 |
-47.13 |
92.27 |
|
|
Creditor days |
37.16 |
-26.89 |
50.83 |
-51.51 |
104.83 |
57.47 |
66.57 |
-26.97 |
91.15 |
|
|
Debtor days |
32.90 |
-35.78 |
51.23 |
-42.93 |
89.77 |
5.19 |
85.34 |
-36.31 |
134.00 |
|
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
|
Current ratio |
1.16 |
-1.69 |
1.18 |
0.85 |
1.17 |
-18.18 |
1.43 |
-10.62 |
1.60 |
|
|
Liquidity ratio / acid ratio |
0.62 |
-8.82 |
0.68 |
9.68 |
0.62 |
-6.06 |
0.66 |
6.45 |
0.62 |
|
|
Current debt ratio |
77.05 |
923 |
7.53 |
15.14 |
6.54 |
146 |
2.65 |
46.41 |
1.81 |
|
|
Cashflow |
-1,372,740 |
88.45 |
-1,552,067 |
-139 |
-647,596 |
56.41 |
-1,148,022 |
55.64 |
-2,063,281 |
|
|
Net worth |
120,178 |
-92.91 |
1,694,189 |
3.22 |
1,641,313 |
-37.61 |
2,630,762 |
-36.93 |
4,170,960 |
|
|
LONG TERM STABILITY |
||||||||||
|
Equity in percentage |
1.06 |
-90.25 |
10.87 |
-12.27 |
12.39 |
-48.93 |
24.26 |
-22.39 |
31.26 |
|
|
Total debt ratio |
93.00 |
1034 |
8.20 |
15.82 |
7.08 |
126 |
3.12 |
41.82 |
2.20 |
|
|
Working capital |
1,559,020 |
-32.32 |
2,303,512 |
28.89 |
1,787,212 |
-40.38 |
2,997,758 |
-33.59 |
4,514,285 |
|
Profit & loss
|
Annual
accounts |
31.12.2013 |
% |
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
% |
31.12.2009 |
|
Operating
Income |
17,682,484 |
-14.65 |
20,716,950 |
56.73 |
13,217,970 |
31.78 |
10,030,333 |
-14.99 |
11,799,146 |
|
Turnover |
17,179,291 |
-15.24 |
20,268,753 |
49.77 |
13,533,591 |
22.29 |
11,066,506 |
37.88 |
8,026,258 |
|
Total
operating expenses |
18,667,012 |
-15.45 |
22,078,230 |
52.48 |
14,479,514 |
14.61 |
12,634,053 |
24.06 |
10,183,543 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating
Charges |
19,170,205 |
-14.90 |
22,526,426 |
59.04 |
14,163,892 |
22.12 |
11,597,881 |
-16.90 |
13,956,431 |
|
Employee
costs |
4,967,870 |
16.69 |
4,257,435 |
26.64 |
3,361,895 |
1.47 |
3,313,098 |
-6.59 |
3,546,687 |
|
Wages
and salary |
3,611,601 |
18.22 |
3,054,925 |
26.03 |
2,424,035 |
-1.55 |
2,462,238 |
-5.48 |
2,604,997 |
|
Social
security contributions |
1,045,878 |
16.51 |
897,663 |
22.37 |
733,540 |
14.01 |
643,409 |
-12.23 |
733,060 |
|
Other
employee costs |
310,390 |
1.82 |
304,848 |
49.20 |
204,319 |
-1.51 |
207,451 |
-0.56 |
208,629 |
|
Director
remuneration |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Amortization
and depreciation |
205,906 |
-33.95 |
311,763 |
-5.55 |
330,086 |
-15.83 |
392,176 |
-2.34 |
401,576 |
|
Operating
result |
-1,487,721 |
82.22 |
-1,809,476 |
-91.29 |
-945,923 |
60.34 |
-1,567,547 |
72.66 |
-2,157,285 |
|
Total
financial income |
54,616 |
-52.83 |
115,785 |
151 |
46,094 |
-43.54 |
81,634 |
-30.68 |
117,769 |
|
Total
financial expenses |
145,870 |
-14.10 |
169,810 |
118 |
77,854 |
55.05 |
50,212 |
-65.16 |
144,139 |
|
Results
on ordinary operations |
-1,578,976 |
84.73 |
-1,863,500 |
-90.60 |
-977,682 |
63.65 |
-1,536,126 |
70.35 |
-2,183,655 |
|
before
taxation |
|
|
|
|
|
|
|
|
|
|
Extraordinary
Charges |
- |
- |
- |
- |
- |
- |
4,072 |
-98.55 |
281,203 |
|
Extraordinary
items |
0 |
- |
0 |
- |
0 |
0 |
-4,072 |
1.45 |
-281,203 |
|
Results
for the year before taxation |
-1578976 |
84.73 |
-1863500 |
-96.60 |
-977682 |
63.48 |
-1540198 |
62.49 |
-2464858 |
|
Taxation |
-330 |
-200 |
300 |
-- |
-- |
-- |
-- |
-- |
-- |
|
Results
on ordinary Operations after taxation |
-1,578,646 |
84.70 |
-1,863,830 |
-90.64 |
-977,682 |
63.65 |
-1,536,126 |
70.35 |
2,183,655 |
|
Net result |
-1,578,646 |
84.70 |
-1,863,830 |
-90.64 |
-977,682 |
63.48 |
-1,540,198 |
62.49 |
-2,464,858 |
|
Profit
(Loss) for the year to be appropriated |
-1,578,646 |
84.70 |
-1,863,830 |
-90.64 |
-977,682 |
63.48 |
-1,540,198 |
62.49 |
2,464,858 |
Social Balance Sheet Details
Social Balance
Sheet Details
|
Social Balance
Sheet |
Total |
|
|
|
|
During the
reporting year ended 31-12-2013 |
|
|||
|
Full-time
Employees |
58 |
|
|
|
|
Part-time
Employees |
12 |
|
|
|
|
Total Fte Employees |
66 |
|
|
|
|
Number of hours
worked |
|
|
|
|
|
Full-time
Employees |
95,458 |
|
|
|
|
Part-time
Employees |
12,284 |
|
|
|
|
Total |
107,742 |
|
|
|
|
|
|
|||
|
Personnel
Charges |
|
|||
|
Full-time
Employees |
4,401,472 |
|
|
|
|
Part-time
Employees |
566,397 |
|
|
|
|
Total |
4,967,870 |
|
|
|
|
Benefits In
Addition To Wages |
76,236 |
|
|
|
|
|
|
|||
|
During the
previous reporting year |
|
|||
|
Average number
employees in Fte |
59 |
|
|
|
|
Actual working
hours |
96,700 |
|
|
|
|
Personnel
Charges |
4,257,435 |
|
|
|
|
Benefits In
Addition To Wages |
63,369 |
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
Type of Contract
|
Full Time |
Part-Time |
Total Fte |
|
|
Unlimited
Duration Contracts |
56 |
10 |
63 |
|
|
Gender and Education Level |
||||
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education |
1 |
- |
1 |
|
|
Secondary
education |
15 |
4 |
18 |
|
|
Higher education
(non university) |
11 |
2 |
12 |
|
|
Higher education
(university) |
22 |
1 |
23 |
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education - - - |
||||
|
Secondairy education |
1 |
- |
1 |
|
|
Higher education
(non university) |
5 |
2 |
6 |
|
|
Higher education
(university) |
1 |
1 |
2 |
|
|
|
||||
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
|
Management |
5 |
1 |
6 |
|
|
White collar
worker |
36 |
6 |
40 |
|
|
Blue collar
worker |
14 |
3 |
16 |
|
|
Other |
1 |
- |
1 |
|
|
|
|
|
|
|
|
|
||||
|
Temporary
personnel |
|
Total |
|
|
|
Average number
of temporary staff |
1 |
|
|
|
|
Actual working
hours |
|
1,606 |
|
|
|
Cost of
temporary staff |
|
49,756 |
|
|
|
|
||||
|
New staff and
leavers |
Part-Time |
Total Fte |
Part-Time |
|
|
New Starters |
14 |
- |
14 |
|
|
Leavers |
12 |
3 |
14 |
|
|
Total of formal
continuing vocational training initiatives for workers paid by the employer |
Male |
Female |
|
|
Number of
employees |
61 |
13 |
|
|
Number of
training hours |
1,553 |
240 |
|
|
Net costs for
enterprise |
73,592 |
16,463 |
|
|
Total of less
formal and informal continuing vocational training initiatives for workers
paid by the employer |
Male |
Female |
|
|
Number of
employees |
6 |
1 |
|
|
Number of
training hours |
327 |
2 |
|
|
Net costs for
enterprise |
13,080 |
80 |
|
|
Total of initial
training initiatives at the expense of the employer |
Male |
Female |
|
|
Number of
employees |
1 |
- |
|
|
Number of
training hours |
195 |
- |
|
|
Net costs for
enterprise |
8,775 |
- |
|
Payment Information
Payment Information Summary
Total number of Invoices available 93
Total number of Invoices paid within or up to 30 days after the due
date 63
Total number of Invoices paid more than 30 days after the due date 21
Total number of Invoices currently outstanding where the due date has
not yet been reached 9
Total number of Invoices currently outstanding beyond the
due date 0
Payment expectations
Payment expectation days 37.16
Day sales outstanding 32.90
Industry comparison
Activity
description Engaged in developing
and manufacturing integrated PEM Fuel Cell Systems, Hydrogen
Generators and Renewable Energy Solutions.
Industry average payment
expectation days 103.60
Industry average day sales
Outstanding 111.97
Industry quartile analysis
Payment expectations
Company result 37.16
Lower 122.05
Median 79.45
Upper 53.23
Day sales outstanding
Company result 32.90
Lower 90.16
Median 54.67
Upper 29.78
Group Structure
No group structure for this company.
Minority Shareholders
Company name
HYDROGENICS HOLDING GMBH
HYDROGENICS CORPORATION
Minority Interests
No minority interests found
Summons
there is no data for this company
Protested Bills
there is no data for this company
Bankruptcy and other legal events
there is no data for this company
Director details
|
Current director details |
|
|
Name |
I.M.C. SMEETS BVBA |
|
Position |
Director |
|
Start Date |
28/06/2011 |
|
Date of birth |
31/03/2011 |
|
Street |
85 TULPINSTRAAT HASSELT |
|
Post code |
3500 |
|
Country |
Belgium |
|
Position |
Legal Representative |
|
Start Date |
28/06/2011 |
|
Date of birth |
31/03/2011 |
|
Street |
85 TULPINSTRAAT HASSELT |
|
Post code |
3500 |
|
Country |
Belgium |
|
Name |
MARTIN ROBERT MOTZ |
|
Position |
Director |
|
Start Date |
03/12/2012 |
|
End Date |
05/06/2018 |
|
Country |
Canada |
|
Name |
LUC OEYEN |
|
Position |
Legal Representative |
|
Start Date |
28/03/2003 |
Current mandates in other
companies
|
Name |
Vlaams Samenwerkingsverband Waterstof
en Brandstofcellen VZW |
|
Business number |
860016747 |
|
Position |
Director |
|
Start Date |
18/07/2003 |
|
Former director details |
|
|
Name |
DARYL WILSON |
Position Director
Start Date 15/07/2008
End Date 03/06/2014
Street 337
BURLINGTON - SMITH AVE
Post code L7R
ZT9
Country Canada
Name WIEDO
WESTBROEK
Position Director
Start Date 15/07/2008
End Date Unknown
date
Street 24
BELGIËLAAN GEEL
Post code 2440
Country Belgium
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
UK Pound |
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.