MIRA INFORM REPORT

 

 

Report No. :

337482

Report Date :

20.08.2015

 

IDENTIFICATION DETAILS

 

Name :

AUTOLIV INDIA PRIVATE LIMITED

 

 

Registered Office :

Survey No.80/3, Chokkahalli Village, Doddalluru Gram Panchayat, Bangalore Rural, Hoskote Industrial Estate, Bangalore – 562114, Karnataka

Tel. No.:

91-80-30601300

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

05.10.2000

 

 

Com. Reg. No.:

08-056723

 

 

Capital Investment / Paid-up Capital :

Rs.50.113 Million

 

 

CIN No.:

[Company Identification No.]

U34300KA2000PTC056723

 

 

IEC No.:

0507039807

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AADCA6222E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of integrated safety systems for major automotive manufacturers.

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 2800000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 2000. It is the manufacturer of integrated safety systems for major automotive manufacturers. The company comes in the group of Autoliv, Inc., USA stands at the position of 310 in Fortune 500. It has a satisfactory track record.

 

For the financial year 2014, the company has reported fine operational activity. It has achieved excellent top line growth as of new launch of Hyundai BA/IA where company has incurred loss due to cost sustain for Hyundai and MSIL projects.

 

Further, the company has decent networth position along with strong financial and managerial support from its holding company. The company has maintained good and long term relationship with its clients.

 

Trade relations are reported as fair. Business is active. Payment terms are usually correct.

 

In view of strong liquidity position, the company can be considered for business dealings at usual trade terms and conditions.

 

 

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.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Ashoka Gogate

Designation :

Senior Manager in Finance and Company Secretary

Contact No.:

91-80-30601300

Date :

19.08.2015

 

 

LOCATIONS

 

Registered Office Corporate Office 1/ Factory 1 :

Survey No.80/3, Chokkahalli Village, Doddalluru Gram Panchayat, Bangalore Rural, Hoskote Industrial Estate, Bangalore – 562114, Karnataka

Tel. No.:

91-80-27971250/ 51/ 53/ 54/ 55/ 57/ 30601300

Fax No.:

91-80-30601430

E-Mail :

mohammad.ibrahim@autoliv.com

krishna.kumar@autolive.com

devanad.achutan@autoliv.com

nagaraju.lade@autoliv.com

Website :

http://www.autoliv.com

 

 

Corporate Office 2/ Head Office/ Factory 2 :

16, Visveswaraiah Industrial Estate, 1st Main Road, Off Whitefield Road, Mahadevapura, Bangalore – 560 048, Karnataka, India

Tel. No.:

91-80-30586300/ 6267

Fax No.:

91-80-30586302

E-Mail :

vipin.saini@autoliv.com

 

 

Factory 3 :

Plot 203, Sector 4, IMT, Manasar Gurgaon – 122 050, Haryana, India.

Tel. No.:

91-124-4768700

Fax No.:

91-124-4768724

 

 

Factory 4 :

Shed No.76/78 SIDCO Industrial Estate, Thirumazhisai Poonamalle Taluk, Thiruvallur, Chennai – 602 107, Tamilnadu, India

Tel. No.:

91-44-26811847

Fax No.:

91-44-26844846

 

 

Factory 5 :

Plot No.44, Safety Street, KIADB Industrial Area, Kadakola, Mysore, Karnataka, India

Tel. No.:

91-421-3021419/ 21

 

 

DIRECTORS

 

As on 31.12.2014

 

Name :

Mr. Devanand Achuthan

Designation :

Director

Address :

No. L5, Chaithanya Samarpan, Kannamangala Village, Bangalore - 560067, Karnataka, India

Date of Birth/Age :

19.05.1974

Date of Appointment :

29.09.2012

DIN No.:

06446956

 

 

Name :

Mr. Suresh Nandagopal

Designation :

Nominee Director

Address :

145, Prestige Ozone, Whitefield Bangalore, Hagadur Villlage, Bangalore -560066, Karnataka, India

Date of Birth/Age :

14.01.1970

Date of Appointment :

15.09.2010

DIN No.:

03245760

 

 

Name :

Mr. Narasimha Murthy Tumkur

Designation :

Additional Director

Address :

No. 1629, 4th Main, 6th Cross, Judicial Layout, GKVK Post, Bangalore - 560065, Karnataka, India

Date of Appointment :

16.04.2015

DIN No.:

07150220

 

 

KEY EXECUTIVES

 

Name :

Mr. Ashoka Gogate

Designation :

Senior Manager in Finance and Company Secretary

 

 

MAJOR SHAREHOLDERS

 

As on 31.12.2014

 

Names of Shareholders

 

No. of Shares

Autoliv AB, Sweden

 

5011283

Autoliv East Europe AB, Sweden

 

01

Autoliv Asia ROH Company Limited, Thailand

 

01

Total

 

5011285

 

As on 31.12.2014

 

Equity Share Break up (Percentage of Total Equity)

 

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 integrated safety systems for major automotive manufacturers.

 

 

Products :

Product Description

Item Code No. (ITC Code)

Automotive Safety Seat Belts

87082100

Traded Goods

87089500

Air Bags

87089500

Steering Wheels

87089400

Webbing

87082900

Scrap Sales

39159030

Other

87082100

Engineering Income

99839900

Testing Income

99834430

Others

87089500

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Banker Name

State Bank Of Mysore

Branch Address

Industrial Finance Branch, Bangalore, Karnataka, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Auditors :

 

Name :

S. R. Batliboi and Associates

Chartered Accountants

Address :

UB City, Canberra, Block, 12th  2nd 13th , Floor, No. 24, Vittal, Mallya Road, Bangalore - 560001, Karnataka , India

PAN No.:

ACHFS9118A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding company :

Autoliv AB, Sweden

 

 

Ultimate holding company :

Autoliv, Inc., USA

 

 

Fellow subsidiaries :
  • Autoliv Electronics Asia Pacific
  • Autoliv Mexico, S.A. DE C.V.
  • Autoliv Isodelta
  • Autoliv Sicherheitstechnik G M B H
  • Autoliv G M B H
  • Autoliv Poland Sp.Z O.O
  • Autoliv Metal Pres Sanayi Ve Ticaret A S
  • AS Norma
  • Mei-An Autoliv CompanyLimited
  • Autoliv Cankor Otomotiv Emniyet Sistemleri Sanayi Ve Ticaret A S
  • Autoliv Ogden – East
  • Autoliv Electronics America
  • Autoliv (Shanghai) Steering
  • Autoliv Steering Wheels Mexico S De Rl De Cv
  • Autoliv Electronics Lowell
  • Autoliv AB
  • Autoliv Asia Management (Shanghai) Company Limited
  • Autoliv Finance – AFI
  • Autoliv France
  • Autoliv Indonesia
  • Autoliv Stakpuress GMBH
  • Autoliv Electronics SAS
  • Autoliv Romania S.R.L
  • Autoliv Safety Center
  • Autoliv Corporation, Korea
  • Autoliv (Shanghai) Vehicle Safety Systems Technical Center Company Limited
  • Autoliv Japan Limited - Atsugi Facility
  • Autoliv (China) Inflator Company Limited
  • Autoliv ASP, Inc.
  • Autoliv Australia Pty Limited
  • N.C.S. Pyrotechnie et Technologies SAS
  • Autoliv France SNC
  • Autoliv Hirotako Safety Sdn Bhd, Malaysia
  • Nanjing Hongguang Autoliv Vehicle Safety Systems Company Limited
  • Autoliv Thailand Limited
  • Autoliv Sverige AB
  • Autoliv (China) Inflators Company Limited
  • P.T. Autoliv Indonesia
  • Autoliv ATC
  • Autoliv Japan Limited
  • Autoliv Do Brasil Limited.
  • Autoliv Romania -Iro Inflators division
  • Autoliv B.V. and Company KG
  • Autoliv (China) Steering Wheel Company, Limited
  • Autoliv (Shanghai) Vehicle Safety Systems Co Limited
  • Taicang Van Oerle Alberton Shenda Special Type Textile Products Co Limited.
  • Autoliv (China) Electronics Company, Limited
  • VOA Canada, Inc.
  • Autoliv North America
  • Autoliv Development AB
  • Van Oerle Alberton BV
  • Livbag, SAS
  • Autoliv Asia Roh Company Limited
  • Autoliv Korea Wonju Plant

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

6000000

Equity Shares

Rs.10/- each

Rs.60.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

5011285

Equity Shares

Rs.10/- each

Rs.50.113 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

50.113

50.113

50.113

(b) Reserves & Surplus

943.405

1129.675

1121.065

(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)

993.518

1179.788

1171.178

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

299.927

271.351

248.646

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

22.564

14.697

20.879

(d) long-term provisions

27.003

28.389

25.264

Total Non-current Liabilities (3)

349.494

314.437

294.789

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

500.000

180.000

60.000

(b) Trade payables

1623.433

1189.837

1063.244

(c) Other current liabilities

146.152

98.477

91.884

(d) Short-term provisions

20.149

14.859

7.418

Total Current Liabilities (4)

2289.734

1483.173

1222.546

 

 

 

 

TOTAL

3632.746

2977.398

2688.513

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

767.742

769.775

669.121

(ii) Intangible Assets

19.657

20.921

18.472

(iii) Capital work-in-progress

144.446

119.441

130.435

(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)

34.847

23.134

3.886

(d)  Long-term Loan and Advances

586.867

513.784

425.658

(e) Other Non-current assets

0.061

0.051

0.051

Total Non-Current Assets

1553.620

1447.106

1247.623

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

765.636

418.854

513.334

(c) Trade receivables

829.114

797.475

635.351

(d) Cash and cash equivalents

132.922

49.744

36.778

(e) Short-term loans and advances

351.054

264.193

255.403

(f) Other current assets

0.400

0.026

0.024

Total Current Assets

2079.126

1530.292

1440.890

 

 

 

 

TOTAL

3632.746

2977.398

2688.513

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

Other Income

 

 

 

 

TOTAL

5164.481

4864.834

4875.205

 

 

 

 

 

Less

EXPENSES

5362.463

4875.472

4624.008

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(197.982)

(10.638)

251.197

 

 

 

 

 

Less

TAX

(11.713)

(19.247)

61.875

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(186.269)

8.609

189.322

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

1015.364

1006.755

817.433

 

 

 

 

 

 

Balance Carried to the B/S

829.095

1015.364

1006.755

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(37.16)

1.71

37.77

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

3.485

2.999

0.000

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(2.522)

133.153

365.538

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

(5.73)

(0.38)

9.83

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.20)

(0.01)

0.21

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.81

0.39

0.26

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.91

1.03

1.18

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

50.113

50.113

50.113

Reserves & Surplus

1121.065

1129.675

943.405

Net worth

1171.178

1179.788

993.518

 

 

 

 

long-term borrowings

248.646

271.351

299.927

Short term borrowings

60.000

180.000

500.000

Current Maturities of Long Term Debt

0.000

2.999

3.485

Total borrowings

308.646

454.350

803.412

Debt/Equity ratio

0.264

0.385

0.809

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

4875.205

4864.834

5164.481

 

 

(0.213)

6.159

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

4875.205

4864.834

5164.481

Profit

189.322

8.609

(186.269)

 

3.88%

0.18%

(3.61%)

 

 

 

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

Yes

8

Designation of contact person

Yes

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

No

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

 

 

OPERATIONS

 

During the financial year, the Company’s total income was Rs.5164.500 Million as against Rs.4864.800 Million achieved in the previous year. Margin growth is attributed to new launch Hyundai BA/IA. The Profit/ (loss) after tax was Rs. (186.300) Million for the year against the profit/ (loss) of Rs.8.600 Million for the previous year. The drop in profit mainly on account of product development cost incurred for Hyundai and MSIL projects, we expect the revenue from 2013-14 onwards and exchange loss on account rupee depreciation. The Company won the first order from Honda, with this we would have business relationship with all major OEMs.

 

 

CORPORATE INFORMATION

 

Subject was incorporated on October 15, 2000. The Company is a subsidiary company of Autoliv AB, Sweden, a manufacturer of integrated safety systems for major automotive manufacturers. The products include seat belts and components, airbags, steering wheels and other car safety products.

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans

296.157

264.958

Long term maturities of finance lease obligations

3.770

6.393

SHORT TERM BORROWING

 

 

Working Capital loans from banks

500.000

180.000

Total

799.927

451.351

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

90250498

26/02/2002

2,635,000.00

FORD INDIA

CHENNAI, CHENNAI, TAMILNADU, INDIA

-

2

90250018

11/04/1997 *

38,000,000.00

STATE BANK OF MYSORE

INDUSTRIAL FINANCE BRANCH, BANGALORE, KARNATAKA, INDIA

-

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and Equipment
  • Furniture and fixtures
  • Vehicles
  • Office Equipment
  • Computer Equipments
  • Other Equipments
  • Leasehold improvements

 

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.65.25

UK Pound

1

Rs.102.25

Euro

1

Rs.72.19

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY 

1~10

5

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

 

48

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.