MIRA INFORM REPORT
|
Report Date : |
18.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
DANA INDIA PRIVATE LIMITED |
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Registered
Office : |
Survey No.278, Village Mann Hinjewadi, Taluka Mulshi, Pune – 411057, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.03.2000 |
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Com. Reg. No.: |
11-015131 |
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Capital
Investment / Paid-up Capital : |
Rs.88.199 Millions |
|
|
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CIN No.: [Company Identification
No.] |
U74999PN2000PTC015131 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED01661C |
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PAN No.: |
AABCD1873A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Automotive Components and Ancillaries. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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|
Maximum Credit Limit : |
USD 2400000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There seems losses recorded by the company from its operational
activities during the financial year 2013. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com while quoting report number,
name and date.
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 DENIED BY
|
Name : |
Mr. Ramalingan |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-44-67188218 |
LOCATIONS
|
Registered Office : |
Survey No.278, Village Mann Hinjewadi, Taluka Mulshi, Pune – 411057,
Maharashtra, India |
|
Tel. No.: |
91-20-30436000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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Branch Office : |
29, Pune Nasik Highway, Village Akurli Milestone, Taluka Khed, Pune, Maharashtra, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Chandrakant Somabhai Patel |
|
Designation : |
Director |
|
Address : |
Sairang Heavens, Kate Wasti Road, Pimple Saudagar, Aundh Camp, Pune –
411027, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1939 |
|
Date of Appointment : |
05.04.2000 |
|
DIN No.: |
00028753 |
|
|
|
|
Name : |
Mr. Saket Sapra |
|
Designation : |
Additional Director |
|
Address : |
Hotel Oakwood Premier, 81, Mundhwa, Koregaon Park Annex, Pune –
411036, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1971 |
|
Date of Appointment : |
25.01.2013 |
|
DIN No.: |
05154694 |
|
|
|
|
Name : |
Robert David Pyle |
|
Designation : |
Director |
|
Address : |
No.4, Gao An Road, Xuhui District, Shanghai 200030 |
|
Date of Birth/Age : |
12.12.1966 |
|
Date of Appointment : |
20.06.2013 |
|
DIN No.: |
03622775 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Dana World Trade Corporation, |
4819860 |
|
Dana |
4000000 |
|
|
|
|
Total
|
8819860 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Components and Ancillaries |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
|
|
Bankers : |
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|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
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PAN.: |
AAEPP5579P |
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Holding Company : |
Dana World Trade Corporation, USA |
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Ultimate Holding
Company : |
Dana Holding Corporation, Delaware |
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|
Fellow Subsidiaries : |
CIN No.: U34300MH1993PLC073227
CIN No.: U74210PN2001PTC129657 |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Dana Italia, SpA |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8819860 |
Equity Shares |
Rs.10/- each |
Rs.88.199
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
88.199 |
88.199 |
88.199 |
|
(b) Reserves & Surplus |
512.017 |
639.238 |
597.718 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
600.216 |
727.437 |
685.917 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
620.000 |
620.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
10.908 |
7.988 |
7.538 |
|
(d) long-term provisions |
23.719 |
12.756 |
8.438 |
|
Total Non-current
Liabilities (3) |
654.627 |
640.744 |
15.976 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
924.735 |
958.437 |
285.761 |
|
(c) Other current liabilities |
167.293 |
75.552 |
7.884 |
|
(d) Short-term provisions |
23.289 |
32.929 |
4.291 |
|
Total Current
Liabilities (4) |
1115.317 |
1066.918 |
297.936 |
|
|
|
|
|
|
TOTAL |
2370.160 |
2435.099 |
999.829 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
258.034 |
272.836 |
159.797 |
|
(ii) Intangible Assets |
301.945 |
409.557 |
0.381 |
|
(iii) Capital work-in-progress |
0.135 |
0.838 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
29.915 |
11.163 |
|
(d) Long-term Loan and Advances |
78.702 |
45.477 |
30.490 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
638.816 |
758.623 |
201.831 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
341.820 |
447.300 |
211.786 |
|
(c) Trade receivables |
968.344 |
961.899 |
335.298 |
|
(d) Cash and cash equivalents |
306.403 |
200.130 |
197.846 |
|
(e) Short-term loans and advances |
114.248 |
66.745 |
49.737 |
|
(f) Other current assets |
0.529 |
0.402 |
3.331 |
|
Total Current
Assets |
1731.344 |
1676.476 |
797.998 |
|
|
|
|
|
|
TOTAL |
2370.160 |
2435.099 |
999.829 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
3605.000 |
3245.000 |
1577.000 |
|
|
|
|
Other Income |
35.000 |
5.000 |
14.000 |
|
|
|
|
TOTAL |
3640.000 |
3250.000 |
1591.000 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
|
TOTAL |
3737.000 |
3166.000 |
1411.000 |
|
|
|
|
|
|
|
||
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(97.000) |
84.000 |
180.000 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
30.000 |
42.000 |
31.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/ (LOSS)
AFTER TAX |
(127.000) |
42.000 |
149.000 |
||
|
|
|
|
|
|
||
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
574.000 |
532.000 |
384.000 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
447.000 |
574.000 |
533.000 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
|
|
|
786.822 |
|
|
|
|
Tooling Income |
|
|
4.477 |
|
|
|
TOTAL EARNINGS |
1269.000 |
1053.000 |
791.299 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
|
|
|
312.194 |
|
|
|
|
Capital Goods |
|
|
0.991 |
|
|
|
TOTAL IMPORTS |
NA |
NA |
313.185 |
||
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(14.40) |
4.76 |
16.90 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(3.49)
|
1.29
|
9.36
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.69)
|
2.59
|
11.41
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.09)
|
3.49
|
18.21
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16)
|
0.12
|
0.26
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.03
|
0.85
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.57
|
2.68
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
88.199 |
88.199 |
88.199 |
|
Reserves & Surplus |
597.718 |
639.238 |
512.017 |
|
Net
worth |
685.917 |
727.437 |
600.216 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
620.000 |
620.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
620.000 |
620.000 |
|
Debt/Equity
ratio |
0.000 |
0.852 |
1.033 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1577.000 |
3245.000 |
3605.000 |
|
|
|
105.770 |
11.094 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1577.000 |
3245.000 |
3605.000 |
|
Profit / (Loss) |
149.000 |
42.000 |
(127.000) |
|
|
9.45% |
1.29% |
(3.52%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS
FY 2012-13 was a challenging year for the economy both globally and in India. The world economy grew by a mere 3.1% in 2012 as compared to 3.9% in the previous year. The domestic situation in India was influenced by these global trends and the ripple effect of a global slowdown was felt. After years of strong positive growth, the Indian economy slowed down to a GDP of 5% from 6.5% in the previous year.
Despite global slowdown, OH Division of the Company has registered a growth of 4% in terms of sales and profit has increased from 7.7% in FY 2011-12 to 7.9% in FY 2012-13.
Weak macro economic factors leading to a continued slow-down in the Medium and Heavy Commercial Vehicles (M&HCV), stiff competition, severely affected the operations and profitability.
Slowdown in economic activity, sluggish infrastructure spending and weak macro outlook coupled with higher operating costs for transport operators, adversely impacted demand in the M&HCV industry. The M&HCV segment which is the harbinger for growth in the economy de-grew by 23.3% in the year.
The Company has registered revenues of Rs. 3603.000 millions, a growth of 11% over the previous year. However, the positive impact of highe0072 volumes and various cost control initiatives were negated by the following:
Lower capacity utilization due to overall slowdown in automobile sector.
- Full year impact of finance cost (Rs. 86.000 Millions) on acquisitio n of assets of drive head division amounting to Rs. 620.000 millions. Previous year interest on debentures was only (Rs. 24.000 Millions) for 101 days (from the date of allotment of debentures i.e. 20 Dec 2011).
- Transfer pricing adjustments amounting to Rs. 82.000 millions from Dana Italy.
- Increased allocation of administration charges amounting to Rs. 109.000 millions.
W.e.f. 1 April 2012, the Company has entered into a Trademark and License agreement with Dana Corporation for use of Dana registered trademark against payment of royalty charges. The royalty charges for the year amounted to Rs. 26.000 millions.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Fully convertible debentures others |
620.000 |
620.000 |
|
|
|
|
|
Total |
620.000 |
620.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10357822 |
10/05/2012 |
400,000,000.00 |
CITIBANK N.A. |
1ST FLOOR, ONYX TOWER, KOREGAON PARK, PUNE, MAHARASHTRA - 411001, INDIA |
B40490567 |
|
2 |
10093616 |
27/10/2010 * |
50,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A99075418 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
- Leasehold Improvements
Intangible Assets
- Computer Software
- Know-how
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records 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] 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.60.99 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
32 |
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.