MIRA INFORM REPORT
|
Report Date : |
24.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
EXEDY CLUTCH INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot Nos.5-P, 9 to 18, 19 Part and 32 to 38, Narasapura Industrial
Area, Appasandra Village, Kolar Taluk and District – 563 133, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
28.09.2011 |
|
|
|
|
Com. Reg. No.: |
08-060621 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2000.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35990KA2011FTC060621 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRE05935G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCE8358E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Supply of clutch assemblies for
vehicles. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 10677000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Exedy Corporation, Japan. It is an established
company having moderate track record. The rating reflects moderate financial risk profile marked by
accumulated loss that company has incurred during 2013 and below average
financial performance. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended September
2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9
billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and
moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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
Contact No.: 91-22-22020849/ 91-7259415394
LOCATIONS
|
Registered Office/ Factory : |
Plot Nos.5-P, 9 to 18, 19 Part and 32 to 38, Narasapura Industrial Area,
Appasandra Village, Kolar Taluk and District – 563 133, Karnataka, India |
|
Tel. No.: |
91-8152-244004 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Shogo Eitarou Okamura |
|
Designation : |
Managing Director |
|
Address : |
405-5-11-1, Shimomaruko Oota-KU, Tokyo, 1460092, Japan |
|
Date of Birth/Age : |
16.09.1956 |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
03589244 |
|
|
|
|
Name : |
Norifumi Ikeda |
|
Designation : |
Whole-time Director |
|
Address : |
No.408, Hotel Royal Orchid Suites, Vasawani Pinacle, Annex, Whitefield Main Road, Bangalore – 560 066, Karnataka, India |
|
Date of Birth/Age : |
30.05.1969 |
|
Date of Appointment : |
24.08.2012 |
|
DIN No.: |
06374949 |
|
|
|
|
Name : |
Mr. Akira Hiroshi Hirai |
|
Designation : |
Director |
|
Address : |
House No.C-685, New Friends Colony, |
|
Date of Birth/Age : |
24.12.1957 |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
03248188 |
|
|
|
|
Name : |
Mr. Hidehito Shichiro Hisakawa |
|
Designation : |
Director |
|
Address : |
15 12, 1 Choume Yamate Higashi, Kyoutanabe City Kyota, 6100357, Japan |
|
Date of Birth/Age : |
24.01.1955 |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
00277789 |
|
|
|
|
Name : |
Ryu Suzuki |
|
Designation : |
Director |
|
Address : |
4-20-11, Hiyoshidai, Tomisato-Shi, Chiba Japan |
|
Date of Birth/Age : |
28.11.1966 |
|
Date of Appointment : |
24.08.2012 |
|
DIN No.: |
06433552 |
|
|
|
|
Name : |
Mr. Yoshimi Osanai |
|
Designation : |
Director |
|
Address : |
2-5-6, Hatanaka, Niiza-Shi, Niiza, 3520012, Japan |
|
Date of Birth/Age : |
14.05.1956 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06584425 |
|
|
|
|
Name : |
Mr. Tomoaki Goto |
|
Designation : |
Director |
|
Address : |
5-2-35 Yanohigashi, Aki-Ku Hiroshima-Shi, Hiroshima Shi, 7360083,
Japan |
|
Date of Birth/Age : |
15.02.1969 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06584410 |
KEY EXECUTIVES
|
Name : |
Ms. Ambica V.S. |
|
Designation : |
Company Secretary |
|
Address : |
Shanni, Dr. T.N. Rudreshappa House, 12th Cross, Left Side,
60 Feet Road, Vinobhanagara, Shimoga – 577 204, Karnataka, India |
|
Date of Birth/Age : |
11.12.1987 |
|
Date of Appointment : |
26.02.2013 |
|
PAN No.: |
AKEPA5998F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
EXEDY Corporation, Japan |
|
289999999 |
|
EXEDY Trading Corporation |
|
1 |
|
Total |
|
290000000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Supply of clutch assemblies for
vehicles. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.S.R. and Associates Chartered Accountants |
|
Address : |
Maruthi Info-Tech Centre, 11-12/1, Inner Ring Road, Koramangala,
Bangalore – 560 071, Karnataka, India |
|
Tel. No.: |
91-80-39806000 |
|
Fax No.: |
91-80-39806999 |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Holding Company : |
EXEDY Corporation, Japan |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
290000000 |
Equity Shares |
Rs.10/- each |
Rs.2900.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
290000000 |
Equity Shares |
Rs.10/- each |
Rs.2900.000 millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
290000000 |
Equity Shares |
Rs.10/- each |
Rs.2900.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
2000.000 |
2.500 |
|
(b) Reserves & Surplus |
|
(230.683) |
9.155 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
900.000 |
1997.500 |
|
Total Shareholders’
Funds (1) + (2) |
|
2669.317 |
2009.155 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
929.050 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term provisions |
|
0.371 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
929.421 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
22.321 |
0.000 |
|
(c) Other current liabilities |
|
93.524 |
7.382 |
|
(d) Short-term provisions |
|
0.716 |
0.439 |
|
Total Current
Liabilities (4) |
|
116.561 |
7.821 |
|
|
|
|
|
|
TOTAL |
|
3715.299 |
2016.976 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1659.665 |
1.211 |
|
(ii) Intangible Assets |
|
1.562 |
0.013 |
|
(iii) Capital work-in-progress |
|
521.022 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
3.742 |
|
(d) Long-term Loan and Advances |
|
57.223 |
560.805 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
2239.472 |
565.771 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
21.113 |
0.000 |
|
(c) Trade receivables |
|
1.557 |
0.000 |
|
(d) Cash and cash equivalents |
|
1266.624 |
1444.584 |
|
(e) Short-term loans and advances |
|
182.015 |
0.005 |
|
(f) Other current assets |
|
4.518 |
6.616 |
|
Total Current
Assets |
|
1475.827 |
1451.205 |
|
|
|
|
|
|
TOTAL |
|
3715.299 |
2016.976 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
104.597 |
33.416 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
104.597 |
33.416 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
290.029 |
16.954 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
290.029 |
16.954 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(185.432) |
16.462 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
50.663 |
0.036 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(236.095) |
16.426 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.742 |
7.271 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) |
|
(236.837) |
9.155 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(1.18) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
(226.43) |
27.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(7.39) |
0.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.09) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.35 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
12.66 |
185.55 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
|
2.500 |
2000.000 |
|
Reserves & Surplus |
|
9.155 |
-230.683 |
|
Share
Application money pending allotment |
1997.500 |
900.000 |
|
|
Net worth |
|
2009.155 |
2669.317 |
|
|
|
|
|
|
Long-term borrowings |
|
0.000 |
929.050 |
|
Short term borrowings |
|
0.000 |
0.000 |
|
Total borrowings |
|
0.000 |
929.050 |
|
Debt/Equity ratio |
|
0.000 |
0.348 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
|
33.416 |
104.597 |
|
|
|
|
213.015 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
|
33.416 |
104.597 |
|
Profit |
|
9.155 |
(236.837) |
|
|
|
27.40% |
(226.43%) |
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other external commercial borrowings |
929.050 |
0.000 |
|
Total
|
929.050 |
0.000 |
Notes:
· The registered office of the company has been shifted from No.60/1, Ground Floor, Miyajima House, Residency Road, 2nd Cross, Bangalore – 560 025, Karnataka to the present address w.e.f. 22.03.2013.
·
No Charges Exist for
Company.
BACKGROUND
Subject was incorporated on 28th September 2011 as a subsidiary of EXEDY Corporation, Japan. The Company proposes to engage in manufacturing and supply of clutch assemblies for vehicles. The operations of the Company are expected to commence in the fiscal 2012-13. The Company has acquired a land from KIADB in Bangalore on a lease cum sale agreement for setting up its manufacturing facility.
BUSINESS OVERVIEW/ OPERATIONS:
The Company has started
doing its production activities in the financial year 2012-13 at the plant
situated at Narasapur Industrial Area; Kolar under the policy lay down by its
parent company EXEDY Corporation, Japan, based on the policy of safety and
health, quality, just in time quantity and cost. And further the Directors
report that the Company has attained success in trial run production of two
wheelers clutches MC3 and KWPG. The total sales for the financial year 2012-13
is Rs.1.413 millions. The loss is at Rs. (239.837) millions as against the
profit of Rs.9.155 millions in the previous year, which includes income from
interest on short term deposits of surplus money. The Company has incurred loss
during the year due to the expenses incurred on setting up of production
facilities for two wheelers which include cost of trial production, cost of
trial run of machineries and project execution expenses. The benefits of this
expenses are going to accrue over the period of time when company start
production and able to deliver the best quality of products to customer. Future
Outlook of the Company: As it succeeded in the trial run production, the
Company satisfied its customers by delivering successful trail products and now
seeks, through its quality control system, to develop its products in terms of
quantity and quality, to keep along with the modern international developments
in the automobile industry, always mindful of all its clients’ interests by
satisfying all their requirements at acceptable costs and prevent any
unjustified financial burden for the clients and the Company will use the
upgraded technology for upsurge of in house production capacity as and when it
feels fit. The production operation is constantly developed by upgrading and
renovating the production lines with all the means that directly lead to better
quality and customer delight. Further to inform that the Company has already
entered an agreement with Renault Nissan Automotive India Private Limited in
the financial year 2012-13, the Company is expecting to initiate the production
of prototype parts as per the schedule. Also, to indicate about the Company’s
future expansion of business by adding friction facing components production
and mainly the products will be used at their plant for the process of final
product and also facing material will be exported to their associated
Companies.
FIXED ASSETS:
Tangible Assets
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer
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.61.05 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.84.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.