MIRA
INFORM REPORT
|
Report Date : |
10.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMERSON CLIMATE TECHNOLOGIES (INDIA) LIMITED (w.e.f. 25.09.2006) |
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Formerly Known
As : |
KIRLOSKAR COPELAND LIMITED |
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Registered
Office : |
Plot No. 23, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.03.1993 |
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Com. Reg. No.: |
11-071223 |
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Capital
Investment / Paid-up Capital : |
Rs.90.000 Million |
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CIN No.: [Company Identification
No.] |
U29192PN1993PLC071223 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK05318F |
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PAN No.: [Permanent Account No.] |
AAACK7291C |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
The Company is engaged in
the manufacture and sale of compressors and related components in the domestic
and export markets and trading in compressors in the domestic market procured
from its group companies. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (53) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. Financial position of the company seems to be strong and healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing 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.
EXTERNAL AGENCY RATING
Not Available
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. Ranjit Fadake |
|
Designation : |
Not Divulged |
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Contact No.: |
91-20-42002000 |
|
Date : |
08.12.2014 |
LOCATIONS
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Registered Office : |
Plot No. 23, Rajiv Gandhi Infotech Park, Phase Ii, Hinjewadi,
Pune – 411057, Maharashtra,
India |
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Tel. No.: |
Not Divulged |
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Fax No.: |
Not Divulged |
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E-Mail : |
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Website : |
DIRECTORS
As on 23.08.2014
|
Name : |
Mr. Ram Rama Krishnan |
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Designation : |
Director |
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Address : |
11107, Ashburv |
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Date of Birth/Age : |
12.02.1971 |
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Date of Appointment : |
05.07.2011 |
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DIN No. : |
03591766 |
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Name : |
Mr. Sridar Narayanswami |
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Designation : |
Managing director |
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Address : |
Flat E701 & 701A, Lunkad Skylounge, Kalyani Nagar, Pune – 411038, Maharashtra, India |
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Date of Birth/Age : |
20.07.1973 |
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Date of Appointment : |
23.05.2013 |
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DIN No. : |
05290172 |
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Name : |
Dara Phirozeshaw Mehta |
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Designation : |
Director |
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Address : |
10, South Lands, 177, Colaba Road, Mumbai – 411005, Maharashtra, India |
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Date of Birth/Age : |
13.07.1933 |
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Date of Appointment : |
26.02.2002 |
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DIN No. : |
00041164 |
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Name : |
Mr. Pratap Parshuram Chavan |
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Designation : |
Director |
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Address : |
111, Shelford Way, Dayton OH, USA 45429 |
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Date of Birth/Age : |
05.04.1954 |
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Date of Appointment : |
10.02.2004 |
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DIN No. : |
00391752 |
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Name : |
Pradipta Sen |
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Designation : |
Director |
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Address : |
304/2, Palms, South City-I, Gurgaon – 122001, Haryana, India |
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Date of Birth/Age : |
07.10.1958 |
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Date of Appointment : |
26.07.2006 |
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DIN No. : |
00051758 |
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Name : |
Cedric Soenens |
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Designation : |
Nominee director |
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Address : |
4/5, Baan Koon, Floor 5, Soi Pattan Asin, Nanglinchee, Thungma Sa Thorn, Bangkok, Thailand 10120 |
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Date of Birth/Age : |
26.03.1970 |
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Date of Appointment : |
10.03.2010 |
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DIN No. : |
02978097 |
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Name : |
Mr. Deepak Takkar |
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Designation : |
Whole-time director |
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Address : |
6, Building 3D, Sidharth Nagar, Aundh, Pune – 411007, Maharashtra India |
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Date of Birth/Age : |
21.08.1959 |
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Date of Appointment : |
23.05.2013 |
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PAN No. : |
AADPT3058J |
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DIN No. : |
06552360 |
KEY EXECUTIVES
|
Name : |
Vineet Baldevraj Duggal |
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Designation : |
Secretary |
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Address : |
House No.14, Clover Pinnacle Ridge, Nibm
Road, Kondhwa – 411048, Maharashtra,
India |
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Date of Birth/Age : |
13.08.1967 |
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Date of Appointment : |
27.10.1995 |
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PAN No.: |
AANPD1391C |
MAJOR SHAREHOLDERS
As on 23.08.2014
|
Names of Shareholders |
No. of Shares |
|
Copeland Corporation LLC, USA |
900000 |
|
Pradipta Sen |
1 |
|
Total |
900001 |
As on 23.08.2014
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 |
%20LIMITED%20-%20297952_MIRA%2010-Dec-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
The
Company is engaged in the manufacture and sale of compressors and related
components in the domestic and export markets and trading in compressors in
the domestic market procured from its group companies. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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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 : |
·
ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda
– 390015, Gujarat, India ·
Ford Credit Kotak Mahindra Limited, Nariman Bhavan, Mumbai – 400021, Maharashtra,
India |
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Auditors : |
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Name : |
B B S R and Associates Chartered Accountants |
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Address : |
Pune, Maharashtra,
India |
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PAN No.: |
AAKFB4397F |
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Memberships : |
--- |
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Collaborators : |
--- |
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Holding Company: |
Copeland Corporation LLC, USA |
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Ultimate Holding
Company: |
Emerson Electric Company |
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Other Related
Party: |
· Emerson Climate Technologies Inc., United States · Emerson Climate Technologies Gmbh, Germany · Emerson Electric (Thailand) Limited, Thailand ·
Fusite Division
Emerson Electric (Asia) Limited, Hong Kong |
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Associate: |
· Emerson Climate Technologies (Suzhou) Company Limited, China · Emerson Electric Company (India) Private Limited, India · Emerson FZE, United Arab Emirates · Clive Samuels And Asso., Inc, United States · Emr (Asia) Limited, China · Emerson Electric Co. Brasil Limited, Brazil · Leroy Somer India Private Limited, India · Emerson Network Power (Pune) Private Limited, India ·
Emerson Argentina S. A., Argentina |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/-each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900001 |
Equity Shares |
Rs.100/-each |
Rs.90.000
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
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I.
EQUITY AND LIABILITIES |
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|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
90.000 |
90.000 |
90.000 |
|
(b) Reserves &
Surplus |
2864.714 |
2278.388 |
1637.588 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
2954.714 |
2368.388 |
1727.588 |
|
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax
liabilities (Net) |
95.806 |
86.079 |
77.483 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
82.515 |
88.955 |
75.711 |
|
Total Non-current
Liabilities (3) |
178.321 |
175.034 |
153.194 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
45.000 |
90.000 |
|
(b) Trade payables |
1687.373 |
1505.494 |
1373.112 |
|
(c) Other current
liabilities |
150.638 |
199.191 |
116.459 |
|
(d) Short-term provisions |
67.977 |
116.597 |
76.959 |
|
Total Current Liabilities
(4) |
1905.988 |
1866.282 |
1656.530 |
|
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|
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TOTAL |
5039.023 |
4409.704 |
3537.312 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i)
Tangible assets |
734.933 |
695.104 |
582.348 |
|
(ii) Intangible Assets |
0.179 |
3.815 |
32.913 |
|
(iii) Capital
work-in-progress |
6.793 |
24.575 |
8.017 |
|
(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 |
1017.325 |
812.594 |
481.809 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1759.230 |
1536.088 |
1105.087 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
670.871 |
586.608 |
460.958 |
|
(c) Trade receivables |
1266.656 |
1349.044 |
1042.922 |
|
(d) Cash and cash
equivalents |
297.873 |
140.614 |
273.475 |
|
(e) Short-term loans and
advances |
1042.724 |
794.942 |
654.870 |
|
(f) Other current assets |
1.669 |
2.408 |
0.000 |
|
Total Current Assets |
3279.793 |
2873.616 |
2432.225 |
|
|
|
|
|
|
TOTAL |
5039.023 |
4409.704 |
3537.312 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
6878.301 |
7035.815 |
5084.301 |
|
|
Other Income |
316.749 |
391.703 |
316.855 |
|
|
TOTAL |
7195.050 |
7427.518 |
5401.156 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4346.014 |
4619.563 |
3357.365 |
|
|
Purchases of
Stock-in-Trade |
74.451 |
102.005 |
44.259 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(17.722) |
(73.272) |
112.921 |
|
|
Employees benefits
expense |
367.986 |
331.821 |
252.633 |
|
|
Other expenses |
1470.542 |
1401.152 |
1145.564 |
|
|
TOTAL |
6241.271 |
6381.269 |
4912.742 |
|
|
|
|
|
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|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
953.779 |
1046.249 |
488.414 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
4.059 |
9.448 |
6.754 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
949.720 |
1036.801 |
481.660 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
112.316 |
117.654 |
115.712 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
837.404 |
919.147 |
365.948 |
|
|
|
|
|
|
|
Less |
TAX |
251.078 |
278.348 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
586.326 |
640.799 |
365.948 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
3931.234 |
4180.682 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
651.47 |
712.00 |
406.61 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
8.52
|
9.11 |
7.20 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
13.86
|
14.87 |
9.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.64 |
20.96 |
10.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.39 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.02 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72 |
1.54 |
1.47 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
90.000 |
90.000 |
90.000 |
|
Reserves & Surplus |
1637.588 |
2278.388 |
2864.714 |
|
Net worth |
1727.588 |
2368.388 |
2954.714 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
90.000 |
45.000 |
0.000 |
|
Total borrowings |
90.000 |
45.000 |
0.000 |
|
Debt/Equity ratio |
0.052 |
0.019 |
0.000 |
%20LIMITED%20-%20297952_MIRA%2010-Dec-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
5084.301 |
7035.815 |
6878.301 |
|
|
|
38.383 |
(2.239) |
%20LIMITED%20-%20297952_MIRA%2010-Dec-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
5084.301 |
7035.815 |
6878.301 |
|
Profit |
365.948 |
640.799 |
586.326 |
|
|
7.20% |
9.11% |
8.52% |
%20LIMITED%20-%20297952_MIRA%2010-Dec-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT
AVAILABLE
|
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 |
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 |
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 |
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 |
INDEX OF CHARGES NO
CHARGES EXIST FOR COMPANY
GENERAL INFORMATION
ABOUT COMPANY
Emerson Climate
Technologies (India) Limited is a 100% subsidiary of Copeland Corporation LLC, USA
(‘the holding Company’). The holding company is a wholly owned subsidiary of
Emerson Electric Co., USA (‘the ultimate holding company’). The Company is
engaged in the manufacture and sale of compressors and related components in
the domestic and export markets and trading in compressors in the domestic
market procured from its group companies. The Company also renders after sales
services in the domestic market and acts as a commission agent in India for
other group companies. The Company is headquartered in Pune
with manufacturing location in Atit and Chakan, and Research and development facility at Karad. In addition the Company has 5 regional offices
across India.
OPERATIONS AND
DIVIDEND
During 2013-14 your company took significant initiatives to grow business. We set up a Cold Chain and Distribution Centre at Chakan to serve growing Indian cold market. The Company made significant progress in expanding its participation in Commercial Air- Conditioning market in India through new products and new customer accounts. Saudi Arabia, the largest country sourcing products from us is going through energy regulations and transitioning to environmental friendly refrigerants. Your company developed products to suit these requirements in a record time and is actively engaged in qualifying these with key OEM customers.
Sales and other income of the Company for the year 2013-2014 were Rs.7195.05 Million as compared to Rs.7427.52 Million in 2012-13. Profit before tax was at Rs.837.40 Million for the year 2013-2014 as compared to Rs.919.15 Million for the year 2012-13.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs. in Millions) |
31.03.2013 (Rs. in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Intercorporate Borrowing |
0.000 |
45.000 |
|
|
|
|
|
Total |
0.000 |
45.000 |
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.61.87 |
|
|
1 |
Rs.96.90 |
|
Euro |
1 |
Rs.76.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
53 |
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.