Summary Information
|
|
|
Country |
|
|
Company Name |
SKF INDIA
LIMITED |
Principal Name 1 |
Mr. Kamlesh C Mehta |
|
Status |
Good |
Principal Name 2 |
Mr. Shishir Joshipura |
|
|
|
Registration # |
11- 11980 |
|
Street Address |
Mahatma
Gandhi Memorial Building, Netaji Subhash Road, Mumbai - 400 002, Maharashtra,
India |
||
|
Established Date |
12.04.1961 |
SIC Code |
-- |
|
Telephone# |
91-22-66337777
/ 22813567 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-22042738/
22819074 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Ball Bearings and Hub Bearing Units |
|
|
# of employees |
2473
(Approximately) |
Product Name 2 |
Tapered Roller Bearings |
|
Paid up capital |
Rs. 527,300,000/- |
Product Name 3 |
Cylindrical Roller Bearings |
|
Shareholders |
Shareholding of
Promoter and Promoter Group - 53.58 % Public Shareholding -
46.42 % |
Banking |
HDFC
Bank Limited |
|
Public Limited Corp. |
Yes |
Business Period |
53 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
A (61) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow subsidiary |
|
SKF Actuation System (Liestal)
AG (Magnetic Elektromotoren AG) |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
10366,500,000 |
Current Liabilities |
3271,200,000 |
|
Inventories |
2551,700,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
3763,600,000 |
Other Liabilities |
902,600,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
4173,800,000 |
|
Invest& other Assets |
247,000,000 |
Retained Earnings |
12227,700,000 |
|
|
|
Net Worth |
12755,000,000 |
|
Total Assets |
16928,800,000 |
Total Liab. &
Equity |
16928,800,000 |
|
Total Assets (Previous Year) |
15990,800,000 |
|
|
|
P/L Statement as of |
31.12.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
22749,600,000 |
Net Profit |
1667,200,000 |
|
Sales(Previous yr) |
22275,900,000 |
Net Profit(Prev.yr) |
1900,800,000 |
MIRA
INFORM REPORT
|
Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SKF INDIA LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
12.04.1961 |
|
|
|
|
Com. Reg. No.: |
11-011980 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 527.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29130MH1961PLC011980 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMS00975C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS0684H |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of Ball Bearings, Roller Bearings and
Textile Machinery Components. |
|
|
|
|
No. of Employees
: |
2473 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 51,020,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. Financial position of the company is strong and healthy. Trade relation are reported as fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor
international report.
There is a $29.34 bn outward foreign direct investment by domestic companies
between April and January of 2013/14 which has seen some signs of recovery
according to a Care Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to
raise $ 500 million via a US initial public offering. Alibaba,
which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has raised
Rs.2,453.2 crore (350 million Swiss Francs) by
selling six-year bonds at a coupon rate of three per cent and maturing in 2020.
This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss
Francs by selling five year bonds at 2.98 % coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost
complete Paradip refinery in Odhisha
in three to four years. The company board is set to consider the setting up of
a 700000 tonne per annum polypropylene plant at an
estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye
Labs-Facebook type deals in the making.
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 DECLINED
Management Non Cooperative (Tel No.: 91-22-66337777)
LOCATIONS
|
Registered Office/ Head Office : |
|
|
Tel. No.: |
91-22-66337777 / 22813567 |
|
Fax No.: |
91-22-22042738/ 22819074 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Located at Chinchwad, Pune,
|
|
|
|
|
Factory 2 : |
Located at Bommasandra, Bangalore,
Karnataka, Uttaranchal, India |
|
|
|
|
|
Unit No 33, 3rd Floor, 68, Tardeo Road,
Close to Crossroads Mall, Nr. Haji Ali, Mumbai -
400 034, Maharashtra, India |
|
Tel. No.: |
91-22-6633 7715 |
|
Fax No.: |
91-22-67216913 |
|
|
|
|
Branches / Sales Office: |
Ahmedabad SKF Technologies ( 306, 307, Samman II Above Satellite, Ahmedabad -
380051 Tel: 91-79 - 40060872 SKF India Limited Plot 2, SKF Technologies ( 13/5, Singasandra, 13km Hosur Road Tel : 91- 080-40359400 Chennai SKF India Limited Old No.28/3, New No.54/3, Chennai 600 008 TEL: 91 044-30280111 SKF India Limited 4E,
Gurgaon SKF India Limited 601/602, Sushant Lok, Gurgaon
-122002 TEL: 91 124-4107922 Haridwar SKF India Limited Plot no. 2, Industrial Park 2, Village Salempur Mehdood, Haridwar, Uttaranchal SKF India Limited Holding No. 4/C Tel: 91-0657-
6574460 Kolkata SKF India Limited Kolkata
700046 Tel: 91 - 033 - 30280619 Pune SKF India Limited Chinchwad, Pune-411 033 TEL: 91 20 - 66112500 FAX: 91 020-27473822 |
DIRECTORS
As on: 31.12.2013
|
Name : |
Mr. Kamlesh C. Mehra |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Shishir Joshipura |
|
Designation : |
Managing Director and Country Head, SKF India |
|
|
|
|
Name : |
Darius C. Shroff |
|
Designation : |
Director ((up to 30.04.2013)) |
|
|
|
|
Name : |
Henrik Lange |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Prakash Telang
|
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Prasad Menon |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rakesh Makhija |
|
Designation : |
Director |
|
|
|
|
Name : |
Tore Bertilsson |
|
Designation : |
Director ( up to 12.07.2013) |
|
|
|
|
Name : |
Tryggve Sthen |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vartan Vartanian |
|
Designation : |
Director |
|
|
|
|
Name : |
David Bishop |
|
Designation : |
Alternate to V Vartanian |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Bhandari |
|
Designation : |
Company Secretary |
|
|
|
|
Country Management Team : |
|
|
|
|
|
Name : |
Mr. Shishir Joshipura |
|
Designation : |
Managing Director and Country Head, SKF India |
|
|
|
|
Name : |
Mrs. Anjali Byce |
|
Designation : |
Director Human Resources, SKF India |
|
|
|
|
Name : |
Chandramowli Srinivasan |
|
Designation : |
Director Finance, SKF India |
|
|
|
|
Name : |
Ms. Harsha Kadam |
|
Designation : |
Director –Tow Wheeler Business, Global |
|
|
|
|
Name : |
Mr. Pallavi Deshmukh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sudhir Rege |
|
Designation : |
Director Regional Sales and Service (Industrial Markets), South Asia |
|
|
|
|
Name : |
Mr. Shrikant Savangikar
|
|
Designation : |
Director Business Excellence, Quality and Sustainability, SKF India |
|
|
|
|
Name : |
Mr. K Ramakrishnan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mattias Axelsson |
|
Designation : |
Head of SKF Logistic Service, SKF India |
|
|
|
|
Name : |
Mr. Shoaib Shaikh |
|
Designation : |
Head of Vehicle Service Market, Asia |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
28254568 |
53.58 |
|
|
28254568 |
53.58 |
|
Total shareholding of Promoter and Promoter Group (A) |
28254568 |
53.58 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
7462821 |
14.15 |
|
|
36876 |
0.07 |
|
|
1494985 |
2.84 |
|
|
8127098 |
15.41 |
|
|
11515 |
0.02 |
|
|
17133295 |
32.49 |
|
|
|
|
|
|
1631018 |
3.09 |
|
|
|
|
|
|
5113509 |
9.70 |
|
|
597594 |
1.13 |
|
|
2554 |
0.00 |
|
|
2554 |
0.00 |
|
|
7344675 |
13.93 |
|
Total Public shareholding (B) |
24477970 |
46.42 |
|
Total (A)+(B) |
52732538 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have
been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
52732538 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Ball Bearings, Roller Bearings and
Textile Machinery Components. |
GENERAL INFORMATION
|
No. of Employees : |
2473 (Approximately) |
|
|
|
|
Bankers : |
·
The Hongkong and
Shanghai Banking Corporation Limited ·
HDFC Bank Limited |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company, Bangalore, Chartered Accountants |
|
Address : |
Muttha Towers, 5th Floor, Suite No. 8, off
Airport Road, Yerwada, Pune
– 411 006, Maharashtra, India |
|
|
|
|
Holding Company ; |
Aktiebolaget SKF |
|
|
|
|
Fellow subsidiary
Companies : |
·
SKF Actuation System (Liestal) AG (Magnetic Elektromotoren
AG) ·
Oy
SKF AB, Finland ·
P.T. SKF Indonesia, Indonesia ·
RFT S.p.A.,
Italy ·
RKS S.A.-SKF Slewing Bearings, France ·
SKF (China) Sales Company Limited,
China ·
SKF (Dalian)
Bearings and Precision and Company Limited. ·
SKF (Thailand) Limited, Thailand ·
SKF (U.K.) Limited, United Kingdom ·
SKF Actuators AB, Goteborg, Sweden ·
SKF Argentina S. A., Argentina ·
SKF Australia Pty. Limited,
Australia ·
SKF B.V., Netherlands ·
SKF Bearings Bulgaria EAD, Bulgaria ·
SKF Canada Limited, Scarborough,
Ont., Canada ·
SKF China Limited, China ·
SKF Condition Monitoring Centre
(Livingstone) Limited, UK ·
SKF Coupling Systems AB, Hofors, Sweden ·
SKF de Mexico, S. A. de C. V.
Mexico D.F., Mexico ·
SKF del Peru S.A., Peru ·
SKF do Brasil
Ltda., Brazil ·
SKF Equipements,
France ·
SKF Espanola S.A., Madrid, Spain ·
SKF European Distribution Centre
(EDC), Belgium ·
SKF European Financial Service
Centre, EFC, Nieuwegein, Netherlands ·
SKF France S.A., France ·
SKF GmbH, Germany ·
SKF Industrie
S.p.A, Italy ·
SKF International AB ·
SKF Japan Limited, Japan ·
SKF Korea Limited, Korea ·
SKF Linearsysteme
GmbH, Germany ·
SKF Malaysia Sdn.
Bhd., Kuala Lumpur, Malaysia ·
SKF Österreich
AG., Austria ·
SKF Sealing Solutions AB, Sweden ·
SKF Shanghai Bearings Company
Limited, China ·
SKF South Africa (Pty) Limited,
South Africa ·
SKF Asia Pacific Pte. Limited, Singapore ·
SKF Sverige
AB, Sweden ·
SKF Technologies India Private
Limited, India ·
SKF USA Inc., Kulpsville/Lansdale,
PA, USA ·
SKF Ukraine, Ukraina ·
Transrol
S.A.S., Chambéry, France ·
SKF Lubrications Systems, France
SAS ·
SKF Lubrications Systems, Germany
AG ( formerly known as Willy Vogel AG) ·
SKF Mekan
AB, Sweden ·
Berger Vogel S.r.l.,
Italy ·
Polyseal,
USA ·
Jaeger Industrial Company Limited,
Taiwan ·
ABBA Linear Tech Company Limited
(Taipei), Taiwan ·
Economos
India Private Limited, New Delhi, India ·
SKF Sealing Solutions GmbH, Leverkusen-Opladen, Germany ·
SKF Linear Motion and Precision
Technologies, USA ·
SKF Automotive Component Corp., Changwon (Pusan) ·
SKF Bearing Services Taiwan, Taipei ·
SKF Chilena
S.A.I.C, Santiago ·
SKF International AB (Treasury
Centre), Göteborg ·
SKF Bearing Industries (Malaysia) Sdn. Bhd, Nilai ·
SKF Automotive Technologies
Company, China ·
SKF Lubrication Systems Japan
Limited ·
SKF Economos
GmbH, Judenburg ·
SKF Actuation system(Pinghu) Company, Limited (former Jaeger (Pinghu) Precision Actuatronic
Limited) ·
SKF Lubrication Systems USA Inc ·
Beijing Nankou
SKF Railway Bearings Company Limited , Beijing ·
SKF Hellas S.A., Athens ·
SKF Ball Screws and Services S.p.A. (former Gamfior S.p.A) ·
SKF Automotive Bearings Company
Limited, Shangai ·
SKF Polska
S.A., Poznan ·
SKF Uruguay DC ·
Lincoln Helios (India) Limited ·
SKF Lubrication Systems The
Netherlands B.V. ·
SKF Condition Monitoring Center (Luleå), Sweden ·
SKF Condition Monitoring Center
Inc., San Diego, CA ·
SKF South East Asia (PTE) Limited,
Singapore ·
SKF Thailand Limited., Bangkok ·
SKF (Shanghai) Automotive
Technologies Company Limited, China ·
Economos (Quingdao) Seal Tech Company Limited, China ·
SKF Denmark A/S., Broendby, Denmark ·
SKF Loziska
a.s., Prague, Czech Republic ·
SKF Multitec
S.P.A., Torino, Italy ·
SKF Latintrade
Inc., Santiago, Colombia ·
SKF Venezoleana
S.A., Venezuela ·
SKF Sealing solutions (wuhu) Company Limited , Anhui
Province, China ·
SKF (Shanghai) Investment
Consultancy Company Limited, Shanghai, China ·
SKF China (CEPA), Shanghai, China ·
SKF Actuation System (Taipei)
Company Limited, Taipei, Taiwan ·
SARMA, France ·
Societe Vendeennne De Roulements ·
SKF Eurotrade
AB, Göteborg, Sweden ·
SKF Aero France S. A., Saint-Vallier-sur-Rhone, France ·
SKF Latin Trade S.A., Chile ·
Peer Mechanical Parts Company
Limited, China ·
SKF China Company Limited,
Shanghai, China ·
PT Skefindo
Primatama, Jakarta, Indonesia ·
SKF Dalian
Bearings and Prec. Company China ·
SKF Distribution Shanghai Company
Limited, China ·
SNFA Bearing Limited, Charfield, United Kingdom ·
SKF Sealing Solution Austria GMBH,
Austria |
CAPITAL STRUCTURE
As on: 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52,732,538 |
Equity Shares |
Rs.10/- each |
Rs.527.300
Millions |
|
|
|
|
|
Reconciliation of
shares outstanding at the beginning and at the end of the reporting period
(Rs. In Millions)
|
Particulars |
31.12.2013 |
|
|
|
Number |
Amount |
|
At the commencement and at the end of the year |
52,732,538 |
527.300 |
Rights, preferences
and restrictions attached to equity shares
The
Company has only one class of equity shares having a par value of Rs.10 per share.
Each shareholder is entitled to one vote per share held. The dividend proposed
by the Board of Directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting, except in case of interim dividend. In the
event of liquidation of the Company, the equity shareholders are eligible to
receive remaining assets of the Company, after distribution of all preferential
amounts, in the proportion to their shareholding.
Shares held by
holding company and their subsidiaries
(Rs. In Millions)
|
Particulars |
31.12.2013 |
|
|
|
Number |
Amount |
|
Equity shares of Rs.10 each fully paid up held by |
|
|
|
(a) Holding company |
|
|
|
Aktiebolaget SKF (AB SKF) |
24,639,048 |
246.400 |
|
(b) Subsidiaries of holding company |
|
|
|
SKF U.K. Limited |
3,402,000 |
34.000 |
|
SKF Forvaltning AB |
213,520 |
2.100 |
Particulars of
shareholders holding more than 5% shares of a class of shares
|
Particulars |
31.12.2013 |
|
|
|
Number |
% of total shares in the class |
|
Equity shares of Rs.10 each fully paid up held by |
|
|
|
Aktiebolaget SKF, holding company |
24,639,048 |
46.8% |
|
SKF U.K. Limited, fellow subsidiary company |
3,402,000 |
6.5% |
2,488 (previous year : 2,488) equity shares of Rs. 10 each are not allotted and held in abeyance.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
527.300 |
527.300 |
527.300 |
|
(b) Reserves & Surplus |
12227.700 |
11026.300 |
9585.100 |
|
(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) |
12755.000 |
11553.600 |
10112.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
40.300 |
83.500 |
16.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
8.300 |
|
(d) long-term provisions |
175.400 |
192.500 |
171.600 |
|
Total Non-current Liabilities (3) |
215.700 |
276.000 |
195.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2526.800 |
2679.000 |
3185.800 |
|
(c) Other current
liabilities |
744.400 |
746.600 |
787.800 |
|
(d) Short-term provisions |
686.900 |
735.600 |
795.300 |
|
Total Current Liabilities (4) |
3958.100 |
4161.200 |
4768.900 |
|
|
|
|
|
|
TOTAL |
16928.800 |
15990.800 |
15077.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3,763.500 |
3479.500 |
3181.100 |
|
(ii) Intangible Assets |
0.100 |
0.900 |
2.800 |
|
(iii) Capital
work-in-progress |
247.000 |
591.200 |
363.200 |
|
(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 |
2495.200 |
2423.500 |
2274.900 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
6505.800 |
6495.100 |
5822.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2551.700 |
2486.200 |
2800.100 |
|
(c) Trade receivables |
3297.500 |
3196.300 |
3721.200 |
|
(d) Cash and cash
equivalents |
3757.900 |
3069.800 |
2244.400 |
|
(e) Short-term loans and
advances |
729.900 |
700.700 |
444.500 |
|
(f) Other current assets |
86.000 |
42.700 |
45.000 |
|
Total Current Assets |
10423.000 |
9495.700 |
9255.200 |
|
|
|
|
|
|
TOTAL |
16928.800 |
15990.800 |
15077.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
22749.600 |
22275.900 |
24348.800 |
|
|
|
Other Income |
631.700 |
683.200 |
545.600 |
|
|
|
TOTAL (A) |
23381.300 |
22959.100 |
24894.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
6063.000 |
5895.700 |
6188.600 |
|
|
|
Purchase of stock-in-trade |
8330.000 |
8303.200 |
9656.700 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(64.100) |
215.900 |
(128.600) |
|
|
|
Exceptional Items |
221.000 |
0.000 |
0.000 |
|
|
|
Employee benefits |
1852.700 |
1694.200 |
1651.300 |
|
|
|
Other expenses |
3954.000 |
3582.900 |
4002.000 |
|
|
|
TOTAL (B) |
20356.600 |
19691.900 |
21370.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3024.700 |
3267.200 |
3524.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3024.700 |
3267.200 |
3524.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
494.400 |
435.900 |
385.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2530.300 |
2831.300 |
3139.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
863.100 |
930.500 |
1054.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1667.200 |
1900.800 |
2084.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5646.500 |
5205.300 |
4180.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1000.000 |
1000.000 |
600.000 |
|
|
|
Dividend |
395.500 |
395.500 |
395.500 |
|
|
|
Tax on Dividend |
70.300 |
64.100 |
64.100 |
|
|
BALANCE CARRIED
TO THE B/S |
5847.900 |
5646.500 |
5205.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of Exports |
1777.900 |
1354.100 |
2084.400 |
|
|
|
Export of Services |
3.000 |
5.400 |
25.800 |
|
|
|
Commission Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
254.300 |
193.200 |
125.500 |
|
|
TOTAL EARNINGS |
2035.200 |
1552.700 |
2235.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
107.300 |
110.400 |
122.600 |
|
|
|
Components, Stores and Spares etc. |
1467.700 |
1500.200 |
1986.300 |
|
|
|
Trading goods |
5666.100 |
5730.100 |
6872.500 |
|
|
|
Capital Goods |
107.200 |
391.400 |
129.100 |
|
|
TOTAL IMPORTS |
7348.300 |
7732.100 |
9110.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
31.60 |
36.00 |
39.50 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
31.03.2014 |
|
|
|
|
|
|
Net Sales |
|
|
5794.700 |
|
Total Expenditure |
|
|
5072.500 |
|
PBIDT (Excl OI) |
|
|
722.200 |
|
Other Income |
|
|
160.400 |
|
Operating Profit |
|
|
882.600 |
|
Interest |
|
|
0.000 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
882.600 |
|
Depreciation |
|
|
132.200 |
|
Profit Before Tax |
|
|
750.400 |
|
Tax |
|
|
259.400 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
491.000 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
491.000 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
7.13
|
8.28
|
8.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.12 |
12.71
|
12.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.16 |
18.38 |
21.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.25 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.63 |
2.28 |
1.94 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
527.300 |
527.300 |
527.300 |
|
Reserves & Surplus |
9,585.100 |
11,026.300 |
12,227.700 |
|
Net
worth |
10,112.400 |
11,553.600 |
12,755.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
24,348.800 |
22,275.900 |
22,749.600 |
|
|
|
(8.513) |
2.127 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
24,348.800 |
22,275.900 |
22,749.600 |
|
Profit After Tax |
2,084.900 |
1,900.800 |
1,667.200 |
|
|
8.56% |
8.53% |
7.33% |
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 |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
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 |
No |
|
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 |
OPERATIONS
The
Indian economy battled several challenges from high interest rates, persistent
inflation, weak rupee to tapered demand and contraction of industrial
production during the year 2013.
The
automotive sector, one of the largest consumers of the Company’s products witnessed
weak demand barring the two wheeler and tractor segment which clocked modest
growth. Manufacturing and industrial activities remained sluggish. Despite
these constraints and challenging environment, your Company continued to focus
on its fundamental strength which lies in its ability to continuously develop
technologies, products and services that enhance competitive advantages for its
customers. The efforts over the years to develop a wide range of products and
service offerings and the ability to combine the knowledge across the SKF
technology platforms – Bearings and units, Seals, Mechatronics,
Services and Lubrication systems – to develop value propositions for the
different industries and customers enabled SKF India’s specialist teams to work
even more closely with customers. This ability to provide them advanced
integrated solutions to improve their production efficiency and improve their
competitiveness and profitability enabled us to strengthen their leadership
position even further in a difficult external environment.
The
efforts are reflected in the positive improving trend witnessed
quarter-on-quarter during the year from sales of Rs.5,290 million in the first
quarter of the year 2013 to Rs.5,912 million in the last quarter. For the
twelve months ending 31st March, 2013, the Company reported Net
Sales of Rs.22,464 million clocking a 2 percent increase over the previous
year. The continued growth in the aftermarket segment and 28 per cent increase
in export worked favorably for the Company.
The
strong emphasis on internal efficiency together with an improvement in the
sales mix enabled your Company to withstand inflationary pressures on costs and
sustain its profitability. Notwithstanding the difficult business and macro environment,
the Company’s Profit Before Tax (excluding exceptional items) as percent to
sales was only marginally lower at 12.2 per cent as compared to 12.8 per cent
last year. Exports constituted 8.2 percent of the total sales as compared to
6.5 per cent of sales in the previous year. The Earnings per share and cash
earnings per share for the year was Rs.31.6 and Rs.
41 respectively. Despite the visible short term challenges, the Company
believes that the long term India story remains intact. Domestic consumption
will remain one of the key growth engines of the Indian economy. A large and
growing population, significant additions to the working age population, rising
disposable incomes including in rural areas and the Government’s increasing
spends on the social sector to foster inclusive growth will all together play
an important role in sustaining consumption.
The
Company will continue to leverage the global knowledge and expertise and its
well-developed research and development facilities along with its own competent
talent to take part in India’s growth story. While the Company will constantly
strive to increase the stakeholder’s value, emphasis
continues to be on delivering value to customers and strengthening processes
while driving sustainable practises. Energy
efficiency initiatives including Beyond Zero ® portfolio, clean technology,
energy efficient products and alternative sources of energy will continue to
remain their focus areas. The Company will continue to invest time, money and
energy in developing products that are safe, environment friendly and at the
same time are, affordable and efficacious to strengthen their competitive and
market leadership position.
AWARDS /
RECOGNITION
The
Directors are delighted to report that during the year, the Company was
recognized and felicitated for exemplary performance in various fields and some
of the significant achievements are:
_
Dun and Bradstreet’s Award for best bearing company for 7th consecutive year
_
GOLD award at the 10th Economic Times and Frost and Sullivan India
Manufacturing Excellence Awards 2013.
_
Frost and Sullivan Indian Industrial technologies award 2013 for market
leadership in the industrial bearings market in India.
_
Ranked amongst the top 10 Auto Component companies by Fortune India for the 2nd
consecutive year.
_
Quality Gold award from Bajaj Auto.
_
Best Supplier for Consistent Performance in Quality and Reliability award from
TAFE.
_
Best performer award in the engineering spares category at Ultratech
North’s Business Associates Meet 2013.
_
Ace Designers Award for consistency in quality and excellence.
The
Company’s Managing Director, Shishir Joshipura was recognized as one of the ‘most valuable CEOs’
of India by Business World and also featured in the list of Top 100 Indian CEOs
by Business Today publication.
These
awards and recognitions are a result of the focused efforts towards evolution
of the company from a bearing manufacturer and supplier to an integrated
solutions provider.
They
thank all their customers, suppliers, distributors, employees and all other
stakeholders for their continued support and contribution to these awards.
These recognitions further inspire us to aim higher in order to become
competitive and deliver value in everything they do.
MANAGEMENT
DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENT
Indian
Economy in 2013 continued to face several challenges and the year proved to be
a period of slowest growth in recent times. Continued uncertainty in the environment
stemming from near absence of action on policy front, persistent inflationary
pressures, resultant high interest rates and absence of resolution on key
issues in several core sectors stunted any investments and/or growth prospects
across these vital sectors. The global economic scenario too remained very
subdued and all major economies of the world faced a decrease in economic
activity and structural adjustments provided a platform for steep depreciation
in Rupee amidst a volatile environment. The uncertainty in business environment
led to low or no investments in new capacity formation. Manufacturing and
industrial activity remained sluggish for the entire year as demand tapered off
leading to low capacity utilisation and slowdown all
around.
The
Indian Bearings industry also faced this situation and saw the markets shrink
from previous year. The market size is estimated to be INR 70 billion. The
split between domestic production and imported bearings remained more or less
unchanged from previous year. OEM and end users across industrial and
automotive sectors were impacted by the prevailing economic headwinds which in
turn translated into a challenging year for the Indian bearings industry.
Amongst these changes a significant dimension is addition of manufacturing
capacity by some of the key Japanese bearing manufacturers. While the
investments were announced in earlier years the year 2013 saw some of these
announcements translate into real investments on ground.
The
Company with its wide product portfolio and a well developed services platform
coupled with deep customer relationships continued to focus on outpacing the
external challenges efficiently by building on its competitive edge and
delivering sustainable results.
OUTLOOK
Global
growth is expected to be weak, driven more by advanced economies while growth
in emerging markets will be weaker than expected. The industry is looking
forward to the next general elections which are largely expected to have a
positive impact on the economy as it could well be the key catalyst for the
revival of the investment cycle which is essential to balance the supply-side
challenges.
The
volatile currency and inflationary pressures coupled with diminished employment
prospects could impinge on growth of consumer demand. However, relief is
visible as consumer inflation is likely to finally reduce as the country
witnesses the early signs of softening prices of food staples. Good harvest,
increase in industrial activity, good education policies will be the key facilitators
to drive higher economic activity in the country. As the country prepares for
general elections, the demand in the aftermarket could grow.
While
the short term prospects look challenging, the Company believes that the
mid-long term India growth story still continues to be promising and remains
strong. The positives like the demographic dividend will continue to drive
long-term growth. The ability to manage the short-term challenges will play a
significant role in catalyzing the growth drivers for the economy and industry.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80005244 |
08/06/2006 * |
200,000,000.00 |
HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
52/60 MAHATMA
GANDHI ROAD, FORT, MUMBAI - 400001, Maharashtra,
INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
·
Buildings
·
Plant, Machinery and Tools
·
Furniture, Fixtures
·
Office Equipments
·
Vehicles
·
Software
AS PER WEBSITE DETAILS:
PRESS RELEASES:
SKF to demonstrate cost-effective solutions
at marine tradeshow Posidonia 2014 in Athens, Greece
2014 May 26, 14:00 CEST
SKF will show customers
how to improve sustainability, safety and efficiency with cost-effective
solutions for the marine industry at Posidonia 2-6
June 2014
Gothenburg, Sweden, 26 May 2014: SKF will be showing marine customers how to
increase efficiency at Posidonia 2014, one of the
world's most prestigious maritime events, which takes place in Athens, Greece. SKF’s solutions can help users to future proof their
vessels and businesses by enabling cost-effective, environmentally-conscious
operations that fulfill regulations.
Among the solutions on show will be a new innovation, an environmental
monitoring system from SKF Blohm + Voss Industries
called TURBULO BlueMon supporting a visualized
environmental mapping of vessel emissions.
SKF will also be showcasing coupling solutions exhibits to demonstrate
effective condition monitoring and products like SKF Vibracon,
the universal, adjustable steel chock that simplifies shaft alignment and
machine installation.
SKF experts will be on the stand to discuss these and many other solutions
available for the marine industry, offering visitors the opportunity to learn
more and discuss their own specific issues.
SKF will also be hosting seminars on Thursday 5th of June covering topics such
as how to get condition monitoring right during the new building phase.
SKF LAUNCHES NEW CONDITION MONITORING
SENSOR SUITABLE FOR HAZARDOUS ENVIRONMENTS
2014 May 26, 13:00 CEST
New SKF Wireless Machine
Condition Sensor provides condition monitoring for large plants, or in
hazardous and hard to reach locations.
Gothenburg, Sweden, 26
May, 2014: SKF today launches the SKF Wireless Machine Condition Sensor, which
uses the WirelessHart communication protocol and
provides dynamic vibration and temperature data for condition monitoring and
machinery diagnostic applications. The product has ATEX Zone 0 certification,
which means that it can also be used in hazardous environments, for example
those found in petrochemical, oil and gas, or pharmaceutical plants. The SKF
Wireless Machine Condition Sensor combines both sensor and router node into one
compact and battery-operated unit the size of a typical industrial
accelerometer.
SKF Wireless Machine Condition Sensors communicate with each other, and with a
wireless gateway, creating a mesh network. This type of network and
communication protocol is ideal for monitoring rotating machinery throughout
large plants, in hard to reach locations, or in areas where traditional WiFi communications will not work.
“The new SKF Wireless Machine Condition Sensor offers monitoring capabilities
that may be impossible with wired systems or hand-held devices. This can
ultimately lead to reduced condition monitoring costs as well as to a safer
approach to machine monitoring,” says Jan Hendrik van
der Linden, Product Line Manager, SKF.
With the new product, users can benefit
from an improved maintenance program, reduced maintenance costs, reduced
installation costs, enhanced employee and machine safety, and compatibility
with the established SKF @ptitude Analyst software
suite.
The SKF Wireless Machine Condition Sensor
operates in a low power consumption mode, allowing the battery to last for
years in the field. Communication capabilities include relaying data from
one node to another, relaying data back to the gateway, and receiving automated
commands from the Wireless Sensor Device Manager software that initiate the
measurement and processing circuits to take data and transmit it back over the
network. If a node is unable to receive signals directly from the WirelessHART gateway, it will instead send and receive its
data through a nearby node that can pass the data to and from the gateway –
ultimately creating the mesh network.
Once data is collected, the Wireless HART
gateway communicates with the Wireless Sensor Device Manager software supplied
by SKF. Device Manager then automatically exports the data into SKF @ptitude Analyst, a comprehensive diagnostic and analytic
software package, where a plant engineer can analyze the data and determine a
course of action.
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.59.26 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
61 |
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.