.MIRA INFORM REPORT
|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SEW-EURODRIVE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.4, GIDC Industrial Estate, Por-Ramangamdi, Vadodara – 391243,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.02.1997 |
|
|
|
|
Com. Reg. No.: |
04-37646 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.158.576 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300GJ1997PTC037646 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS00751C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Assembling and Dealing of Electric Motors and Accessories, Parts. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘SEW-Eurodrive GmBH and Company’, KG,
Germany. It is an established company having a satisfactory track record. Profitability of the company seems to be fair. General financial
position of the company of the company seems to be sound and healthy. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. 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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn Rs.400000
million from the bandwidth auction set for January. The merger and acquisition
guidelines, cleared by a group of ministers, will be out before the auction
begins so that players can make informed decisions on the auctions.
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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Sachin Pandit |
|
Designation : |
Assistant Finance |
|
Contact No.: |
91-9558809373 |
|
Date : |
23.01.2014 |
LOCATIONS
|
Registered Office / Headquarter / Assembly Units 1 : |
Plot No.4, GIDC Industrial Estate, Porramangamdi, Vadodara – 391243,
Gujarat, India |
|
Tel. No.: |
91-265-3045200/ 2830492/ 2830493/ 2830494/ 2831021/ 2831086 |
|
Fax No.: |
91-265-3045300/ 2831087 |
|
E-Mail : |
sachin.pandit@seweurodriveindia.com vipin.verma@seweuridriveindia.com
|
|
Website : |
|
|
Location : |
Leased |
|
|
|
|
Assembly Units 2 : |
Plot No.K3/1, SIPCOT Industrial Park, Phase- Mambakkam, Sriperumdur,
Kanchipuram, Chennai – 602105, Tamilnadu, India |
|
|
|
|
Assembly Units 3 : |
Plant: Plot No. D236/1,
Chakan Industrial Area Phase- II,
Warale, Tal- Khed, |
|
|
|
|
Technical Offices : |
Located at: v Ahmedabad v Aurangabad v Bangalore v Bangladesh v Bellary v Chandigarh v Chennai v Cochin v Coimbatore v Cuttack v Gandhidham v Gurgaon v Hyderabad v Indore v Jamshedpur v Kolhapur v Kolkata v Lucknow v Mumbai v Nagpur v Nashik v New
Delhi v Navi
Mumbai v Pune v Raipur v Ranchi v Tiruchirappalli v Vadodara |
DIRECTORS
As on 30.08.2013
|
Name : |
Mr. Mazuanchary Jacob Abraham |
|
Designation : |
Managing director |
|
Address : |
Flat – 4, Shyam S Castle K 62, Annanagar East, Chennai – 600102, Tamilnadu,
India |
|
Date of Birth/Age : |
07.11.1965 |
|
Date of Appointment : |
01.11.2010 |
|
DIN No.: |
03393668 |
|
PAN No.: |
ACVPA4963D |
|
|
|
|
Name : |
Mr. Sameer Oberoi |
|
Designation : |
Director |
|
Address : |
A-18, Chitranjan Park, New Delhi – 110019, India |
|
Date of Birth/Age : |
16.10.1968 |
|
Date of Appointment : |
20.06.2005 |
|
DIN No.: |
00105414 |
|
|
|
|
Name : |
Mr. Hans Sondermann |
|
Designation : |
Director |
|
Address : |
Fum Roetig 19A D – 76646, Bruchsal – 176646, Germany |
|
Date of Birth/Age : |
17.04.1959 |
|
Date of Appointment : |
28.06.2000 |
|
DIN No.: |
00105512 |
|
|
|
|
Name : |
Mr. Rainer Blickle |
|
Designation : |
Director |
|
Address : |
Am, Mijhlewg – 18, Kraichatal – 076703, Germany |
|
Date of Birth/Age : |
16.07.1947 |
|
Date of Appointment : |
03.02.1997 |
|
DIN No.: |
00105567 |
KEY EXECUTIVES
|
Name : |
Mr. Abraham Jacob Mazuanchary |
|
Designation : |
Manager |
|
Date of Appointment : |
07.08.2006 |
|
PAN No.: |
ACVPA4963D |
|
|
|
|
Name : |
Mr. Vikas
Damodarlal Johri |
|
Designation : |
Secretary |
|
Address : |
201, Shourya Residedancy Kalyan Nagar Society – II, Vadodara – 390018, Gujarat, India |
|
Date of Birth/Age : |
10.01.1975 |
|
Date of Appointment : |
08.04.2008 |
|
PAN No.: |
AIFPJ5593E |
|
|
|
|
Name : |
Mr. Sachin Pandit |
|
Designation : |
Assistant Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sew Industriebeteiligungs GMBH, Germany |
|
15857579 |
|
Sew Eurodrive GMBH and Company, Germany |
|
01 |
|
|
|
|
|
Total |
|
15857580 |
Equity Share Break up (Percentage of Total Equity)
As on 30.08.2013
|
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 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Assembling and Dealing of Electric Motors and Accessories, Parts. |
|
|
|
|
Imports : |
|
|
Products : |
Gear Motor Parts |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Credit and Advance (30 Days) |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Suppliers : |
·
LHP Motor ·
SKF India Limited |
||||||||
|
|
|
||||||||
|
Customers : |
Wholesalers and Retailers ·
Reliance Industries Limited, Jamnagar, Gujarat,
India |
||||||||
|
|
|
||||||||
|
No. of Employees : |
200 (Approximately) |
||||||||
|
|
|
||||||||
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor Apollo Mills Compound, N. M. Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFB4734C |
|
|
|
|
Holding company: |
· SEW Industriebeteiligings Gmbh |
|
|
|
|
Ultimate Holding company: |
· SEW Eurodrive GmBH and Company, KG, Germany |
|
|
|
|
Associate: |
· SEW Eurodrive Pte Limited – Singapore · SEW Industrial Gears. OY, Finland · SEW Eurodrive Pty Limited-South Africa · SEW Eurodrive Intl. BV Others, Netherland · SEW Eurodrive Tianjin Company Limited- China · SEW Eurodrive Inc- USA · SEW Motor (Suzho) - China |
|
|
|
|
Parent Company: |
· Sew Eurodrive GmBH, Germany |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs. 160.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15857580 |
Equity Shares |
Rs.10/- each |
Rs. 158.576
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 |
158.576 |
158.576 |
99.281 |
|
(b) Reserves & Surplus |
844.834 |
767.109 |
511.385 |
|
(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) |
1003.410 |
925.685 |
610.666 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
13.164 |
2.127 |
13.828 |
|
(c) Other long term liabilities |
0.305 |
0.230 |
0.735 |
|
(d) long-term provisions |
5.192 |
3.935 |
1.427 |
|
Total Non-current Liabilities (3) |
18.661 |
6.292 |
15.990 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
92.527 |
261.720 |
|
(b) Trade payables |
615.538 |
695.343 |
699.620 |
|
(c) Other current
liabilities |
70.832 |
69.535 |
43.036 |
|
(d) Short-term provisions |
19.150 |
5.688 |
96.269 |
|
Total Current Liabilities (4) |
705.520 |
863.093 |
1100.645 |
|
|
|
|
|
|
TOTAL |
1727.591 |
1795.070 |
1727.301 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
615.125 |
463.159 |
459.328 |
|
(ii) Intangible Assets |
1.189 |
1.839 |
7.416 |
|
(iii) Capital
work-in-progress |
7.833 |
179.551 |
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 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
36.079 |
20.053 |
85.642 |
|
(e) Other Non-current assets |
2.303 |
7.657 |
0.000 |
|
Total Non-Current Assets |
662.529 |
672.259 |
552.386 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
452.314 |
527.067 |
608.708 |
|
(c) Trade receivables |
339.188 |
424.321 |
406.948 |
|
(d) Cash and cash
equivalents |
197.744 |
77.566 |
66.516 |
|
(e) Short-term loans and
advances |
73.473 |
93.347 |
92.743 |
|
(f) Other current assets |
2.343 |
0.510 |
0.000 |
|
Total Current Assets |
1065.062 |
1122.811 |
1174.915 |
|
|
|
|
|
|
TOTAL |
1727.591 |
1795.070 |
1727.301 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1760.000 |
1873.390 |
1609.110 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1553.490 |
1633.160 |
1316.430 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
206.510 |
240.230 |
292.680 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
61.790 |
66.460 |
66.010 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
7.030 |
13.360 |
33.540 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
137.690 |
160.050 |
192.730 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENTS |
59.150 |
45.030 |
69.590 |
|
|
|
PROVISION FOR FBT |
0.800 |
0.350 |
0.390 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
77.740 |
115.010 |
123.130 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
626.400 |
511.380 |
388.250 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
704.140 |
626.400 |
511.380 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.90 |
NA |
NA |
|
Expected Sales (2013-2014) : Rs.1780.000 Millions
The above information has been parted by Mr. Sachin Pandit (Assistant
Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.42
|
6.14 |
7.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.01
|
9.91 |
11.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.17 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.10 |
0.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51
|
1.30 |
1.07 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
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
Financial year 2012/13 was a difficult year with GDP growth at 5% at a 10 year low and Industrial growth at 1% at a 20 year low. This resulted in capital goods contracting by 6.3% in the financial year which obviously caused very strong headwinds in the segment the company operates in.
During the year the company registered a sales decline of 6% as compared to the financial year 2011/12. EBITDA margins declined by 14% because of higher operating costs absorbed by lower than expected sales, but gross margin remained healthy with almost no deterioration over the previous year.
The prognosis for the coming financial year 2013-14continues to be poor, and while the drop in industrial growth seems to have bottomed out there are no current signs of where a recovery will come from in the medium term. The competitive landscape has heated up considerably as market players with already sunk capacity investments chase volumes and local currency depreciation has added further pressure on margins.
However we continue to view these events as cyclical and are convinced of the long term structural drivers of the Indian economy; namely the demographic profile, headroom to grow because of the low per capita income, huge infrastructure gap which has to be addressed and the long term benefits of a mature democracy to ensure stable and responsive governance.
The company continues to build its organization, accepting the current impact on profits to ensure that it is well positioned to benefit from the next recovery and is currently putting up its 3rd assembly plant in Pune on the land leased from MIDC last year.
On standalone basis, the company registered a net turnover of Rs. 1760.000 millions as against Rs. 1873.390 Millions during the previous year, a growth of -6%. The company registered EBIDTA of Rs. 206.510 millions as compared to Rs. 240.230 millions during the relevant previous year. The net profit for the year was Rs. 77.740 millions as against 115.010 millions in the relevant previous fiscal. The company has become debt free during the previous year 2012-13.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
0.000 |
92.527 |
|
|
|
|
|
Total |
0.000 |
92.527 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10082058 |
17/12/2007 |
31,000,000.00 |
CORPORATION BANK |
ALKAPURI BRANCH,
NATIONAL PLAZA, R. C. DUTT ROAD, |
A29772415 |
FIXED ASSETS
Tangible assets
·
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
Intangible assets
·
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.61.99 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
47 |
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.