MIRA INFORM REPORT
|
Report No. : |
-- |
|
Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCHNEIDER ELECTRIC INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. B-12, Ground Floor, Rewari Line, Mayapuri Industrial Area, Phase-I,
New Delhi-110064 |
|
Tel. No.: |
91-11-30189530 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.02.1995 |
|
|
|
|
Com. Reg. No.: |
55-065815 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 7013.595 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC065815 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS1624G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Industrial Electrical and Electronic Items. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Schneider Electric Industries S.A.S,
France.” It has a satisfactory track record. For the financial year 2014, the company has incurred huge accumulated
losses which has resulted in moderate net worth position of the company. However, the company has strong managerial and financial support from
its holding company. Trade relations are reported as fair. Business is active. Payments
terms are usually correct. In view of strong holding company, it can be considered for business
dealings 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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
Not Available
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
LOCATIONS
|
Registered Office : |
Plot No. B-12, Ground Floor, Rewari Line, Mayapuri Industrial Area,
Phase-I, New Delhi-110064, India |
|
Tel. No.: |
91-11-30189530 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON: 29.09.2014
|
Name : |
Mr. Anil Chaudhry |
|
Designation : |
Managing Director |
|
Address : |
1046, Sector 28, Fridabad-121008, Haryana, India |
|
Date of Birth/Age : |
11.03.1961 |
|
Date of Appointment : |
01.03.2013 |
|
DIN No.: |
03213517 |
|
|
|
|
Name : |
Sumendra Jain |
|
Designation : |
Whole Time Director |
|
Address : |
House No. D-904, Wembley Estate, Near Nirwana Country, Sector 50,
Islampur (97), South City Li, Gurgaon-122018, Haryana, India |
|
Date of Birth/Age : |
09.09.1973 |
|
Date of Appointment : |
31.03.2014 |
|
DIN No.: |
06366826 |
|
|
|
|
Name : |
Mr. Vimal Narayanan |
|
Designation : |
Whole Time Director |
|
Address : |
2045, Sobha Prrimrose Apartment, Green Glan, L/O, Off. Sarjapur, Outer
Ring Road, Bellandur, Bangalore-560103, Karnataka, India |
|
Date of Birth/Age : |
18.05.1974 |
|
Date of Appointment : |
16.07.2014 |
|
DIN No.: |
06925670 |
|
|
|
|
Name : |
Mrs. Rachana Mukherjee |
|
Designation : |
Whole Time Director |
|
Address : |
A-26/3, IInd Floor, SFS DDA Flats, Saket, New Delhi-110017, India |
|
Date of Birth/Age : |
30.11.1962 |
|
Date of Appointment : |
28.09.2014 |
|
DIN No.: |
06970986 |
|
|
|
|
Name : |
Sugata Sircar |
|
Designation : |
Whole Time Director |
|
Address : |
Flat B603, Emmar Palm Springs, Residential Complex, Golf Course Road, Sector
54, Gurgaon-400054, Haryana, India |
|
Date of Birth/Age : |
20.12.1963 |
|
Date of Appointment : |
28.09.2014 |
|
DIN No.: |
01119161 |
KEY EXECUTIVES
|
Name : |
Mr. Mohd. Nazim Khan |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Ankur Singhal |
|
Designation : |
Company Secretary |
|
PAN No: |
AYSPS1757J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 29.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Schneider Electric Industries SAS |
|
370435465 |
|
Societie Rhodanienne Detudeset DE Participations |
|
1 |
|
Schneider Electric Denmark AS |
|
2850760 |
|
Schneider Electric Services International |
|
29432862 |
|
|
|
|
|
Total |
|
402719088 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Schneider Electric IT Business India Private Limited |
|
500000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 29.09.2014
|
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 : |
Subject is engaged in Industrial Electrical and Electronic Items. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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||||||||||||||||||||||
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Bankers : |
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Golf View, Corporate Tower-B, Near DLF Golf Course, Sector-42,Sector Road, DLF Phase V, Gurgaon-122002, Haryana, India |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
Schneider Electric Industries S.A.S, France |
|
|
|
|
Fellow Subsidiary
company: |
U32109KA1997PTC029635
U74899DL1988PTC032019
L31900GJ2011PLC064420
|
|
|
|
|
Subsidiary Company: |
Schneider Electric Lanka Private Limited, Sri Lanka |
CAPITAL STRUCTURE
AS ON: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000000 |
Equity Shares |
Rs.5/- each |
Rs. 4500.000 Million |
|
550000000 |
Preference Shares |
Rs.10/- each |
Rs. 5500.000 Million |
|
|
|
|
Rs. 10000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
402719088 |
Equity Shares |
Rs.5/- each |
Rs. 2013.595 Million |
|
500000000 |
Preference Shares |
Rs.10/- each |
Rs. 5000.000 Million |
|
|
|
|
Rs. 7013.595
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
30.06.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7013.595 |
7013.595 |
3977.191 |
|
(b) Reserves &
Surplus |
(3031.895) |
(2140.395) |
1926.400 |
|
(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) |
3981.700 |
4873.200 |
5903.591 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1184.500 |
34.500 |
44.800 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
137.300 |
78.300 |
40.900 |
|
(d) long-term provisions |
296.400 |
267.200 |
60.600 |
|
Total Non-current
Liabilities (3) |
1618.200 |
380.000 |
146.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6908.900 |
7103.700 |
14233.200 |
|
(b) Trade payables |
11183.300 |
8372.600 |
6772.509 |
|
(c) Other current
liabilities |
922.200 |
1022.000 |
1278.100 |
|
(d) Short-term provisions |
219.000 |
274.800 |
423.100 |
|
Total Current Liabilities
(4) |
19233.400 |
16773.100 |
22706.909 |
|
|
|
|
|
|
TOTAL |
24833.300 |
22026.300 |
28756.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3766.400 |
3043.400 |
2566.300 |
|
(ii) Intangible Assets |
731.500 |
1008.700 |
5788.400 |
|
(iii) Capital
work-in-progress |
472.700 |
839.700 |
627.300 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
41.600 |
39.600 |
40.100 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
743.000 |
892.400 |
441.800 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
5755.200 |
5823.800 |
9463.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4353.000 |
3993.600 |
4312.000 |
|
(c) Trade receivables |
9940.200 |
8252.600 |
6938.000 |
|
(d) Cash and cash
equivalents |
1782.000 |
1053.200 |
5063.700 |
|
(e) Short-term loans and advances |
2366.600 |
1896.400 |
2422.700 |
|
(f) Other current assets |
636.300 |
1006.700 |
556.500 |
|
Total Current Assets |
19078.100 |
16202.500 |
19292.900 |
|
|
|
|
|
|
TOTAL |
24833.300 |
22026.300 |
28756.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
30.06.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL INCOME |
23149.800 |
33160.400 |
26877.900 |
|
|
|
|
|
|
|
Less: |
EXPENSES |
24041.300 |
26707.800 |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(891.500) |
6452.600 |
NA |
|
|
|
|
|
|
|
Less: |
TAX |
0.000 |
12983.000 |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
(891.500) |
(6530.400) |
(2980.100) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Exports at F.O.B. Value |
|
4299.700 |
3596.700 |
|
|
Others Services |
|
4684.100 |
2875.500 |
|
|
TOTAL EARNINGS |
NA |
8983.800 |
6472.200 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Goods Purchase for resale |
3238.500 |
4690.700 |
6080.100 |
|
|
Raw Material, Components and Spare Parts |
3991.900 |
4960.900 |
4712.500 |
|
|
Capital Goods |
193.500 |
371.400 |
178.700 |
|
|
TOTAL IMPORTS |
7423.900 |
10023.000 |
10971.300 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(0.99) |
(7.23) |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
30.06.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
852.500 |
(698.000) |
(11653.800) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
30.06.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(3.85) |
(19.69) |
(11.09) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(3.67) |
30.51 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22) |
1.32 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.03 |
1.46 |
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
0.97 |
0.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
30.06.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
3977.191 |
7013.595 |
7013.595 |
|
Reserves & Surplus |
1926.400 |
(2140.395) |
(3031.895) |
|
Net worth |
5903.591 |
4873.200 |
3981.700 |
|
|
|
|
|
|
long-term borrowings |
44.800 |
34.500 |
1184.500 |
|
Short term borrowings |
14233.200 |
7103.700 |
6908.900 |
|
Total borrowings |
14278.000 |
7138.200 |
8093.400 |
|
Debt/Equity ratio |
2.419 |
1.465 |
2.033 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
30.06.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
26877.900 |
33160.400 |
23149.800 |
|
|
|
23.374 |
(30.188) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
30.06.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
26877.900 |
33160.400 |
23149.800 |
|
Profit |
(2980.100) |
(6530.400) |
(891.500) |
|
|
(11.09%) |
(19.69%) |
(3.85%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
30.06.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS: |
|
|
|
Deferred sales tax loan |
34.500 |
34.500 |
|
Intercorporate Deposits |
1150.000 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS: |
|
|
|
Intercorporate Deposits |
0.000 |
1000.000 |
|
Other Loans and Advances |
6908.900 |
6103.700 |
|
|
|
|
|
Total |
8093.400 |
7138.200 |
INDEX
OF CHARGES:
No charges Exist for the company
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.06.2013 |
|
Demand from Income Tax authorities disputed by the company |
1167.100 |
616.900 |
|
Demand from Sales Tax authorities disputed by the company |
232.900 |
232.100 |
|
Demand from Excise and Service Tax authorities disputed by the company |
142.300 |
68.800 |
FIXED ASSETS:
Tangible:
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment
- Leasehold improvements
Intangible
- Goodwill
- Brands and trade marks
- Trade marks
- Computer software
- Copyrights, patents and other operating rights
- Services and operating rights
- 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, India Prisons Service, Interpol, etc.
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. 63.76 |
|
UK Pound |
1 |
Rs. 98.76 |
|
Euro |
1 |
Rs. 69.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
THR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.