MIRA INFORM REPORT
|
Report No. : |
337391 |
|
Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAGUAR LAND ROVER INDIA LIMITED |
|
|
|
|
Registered
Office : |
Nanavati Mahalaya, 3rd Floor, 18, Homi Mody Street, Mumbai –
400 001, Maharashtra |
|
Tel. No.: |
91-22-66658282 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.10.2012 |
|
|
|
|
Com. Reg. No.: |
11-237194 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.412.500
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34200MH2012FLC237194 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCJ0039Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of wheel drive vehicles and sports cars. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a step
down subsidiary of “TATA Motors Limited”, incorporated on 25th October
2012, it is an established company having a satisfactory track record. Rating reflects
on company is being a part of Tata Group, backed by strong support in form of
financial and managerial from its group and best luxury car segment in the
country. The company has
reported losses and it has accumulated over the years. However, it is to be
noted that management has reported healthy revenue as well as significant
infusion of capital in FY-2014 backed by zero debt profile. Trade relations are
fair. Business is active. Payment terms are reported to be slow but correct. In view of
renowned brand name and being a part of Tata Group, the company can be
considered normal for business dealings with its 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 DECLINED BY
|
Name : |
Mr.
Sandeep Chandraprakash Shenoy |
|
Designation : |
Chief
Financial Officer |
|
Contact No.: |
91-22-66658282 |
|
Date : |
18.08.2015 |
LOCATIONS
|
Registered Office : |
Nanavati Mahalaya, 3rd Floor, 18, Homi Mody Street, Mumbai
– 400 001, Maharashtra, India |
|
Tel. No.: |
91-22-66658282 |
|
Fax No.: |
91-22-66657788 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Headquarter : |
Ground Floor, A-Block, CJ House, Shivsagar
Estate, Dr. Annie Besant Road, Worli, Mumbai – 400 018,
Maharashtra, India |
|
Tel. No.: |
91-22-66269292/ 66517444 |
|
Fax No.: |
91-22-66269299/ 66517469 |
DIRECTORS
AS ON 30.07.2014
|
Name : |
Mr.
Satish Balkrishna Borwankar |
|
Designation : |
Director |
|
Address : |
Flat
No.22, Viola S No.118/3-5, Warje, Near Cipla Hospital, Kothrud, Pune – 411
052, Maharashtra, India |
|
Date of Appointment : |
25.10.2012 |
|
DIN No.: |
01793948 |
|
|
|
|
Name : |
Mr.
Philip Hodgkinson |
|
Designation : |
Director |
|
Address : |
33,
Cotton Close, Alrewas, Burton on Trent, DE137BF, United Kingdom |
|
Date of Birth/Age : |
05.05.1959 |
|
Date of Appointment : |
25.10.2012 |
|
DIN No.: |
06369875 |
|
|
|
|
Name : |
Dmitry
Kolchanov |
|
Designation : |
Director |
|
Address : |
Maple
House, 41E Davenant Road, Oxford, OX28BU, United Kingdom |
|
Date of Appointment : |
19.11.2014 |
|
DIN No.: |
06949664 |
|
|
|
|
Name : |
Gruffydd
Elwyn Roberts |
|
Designation : |
Director |
|
Address : |
Rectory
House, Peterston Super Ely, Cardiff, CF56LH, United Kingdom |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07138834 |
|
|
|
|
Name : |
Gillian
Ruth Karran Cumberlege |
|
Designation : |
Director |
|
Address : |
13
Tite Street, London, SW34JR, United Kingdom |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07138838 |
KEY EXECUTIVES
|
Name : |
Mr.
Sumeet Suresh Maheshwari |
|
Designation : |
Secretary |
|
Address : |
Flat
No.B-301, Turning Point Building, Sector 1, Vasant Nagri, Vasai Road (East),
Thane – 401 208, Maharashtra, India |
|
Date of Appointment : |
22.07.2015 |
|
PAN No.: |
ACVPM4391H |
|
|
|
|
Name : |
Mr.
Sandeep Chandraprakash Shenoy |
|
Designation : |
Chief
Financial Officer |
|
Address : |
302,
A Wing, Dosti Blossom, Dosti Acres Complex, S. M. Road, Wadala (East), Mumbai
– 400 037, Maharashtra, India |
|
Date of Appointment : |
22.07.2015 |
|
PAN No.: |
ATHPS1954P |
|
|
|
|
Name : |
Mr.
Richard Cole |
|
Designation : |
Site
Manager, ODEC (Pune) |
|
|
|
|
Name : |
Tamoor
Khan |
|
Designation : |
Vice
President, Finance |
|
|
|
|
Name : |
Mr.
Paul Uttley |
|
Designation : |
Pune
Operations Manager |
|
|
|
|
Name : |
Mr.
Avtar Hyare |
|
Designation : |
Plant
Quality/CME Manager |
|
|
|
|
Name : |
Mr.
Nitin Khatavkar |
|
Designation : |
Offshore
Manager - Mechanical |
|
|
|
|
Name : |
Mr.
Ayub Bhayat |
|
Designation : |
Senior
Technical Manager |
|
|
|
|
Name : |
Harvinder
Bharaj |
|
Designation : |
EE
Infotainment ODEC Manager |
|
|
|
|
Name : |
Atputharaj
Arulraj |
|
Designation : |
Principal
Engineer |
|
|
|
|
Name : |
Shilpa
Sanjeev |
|
Designation : |
Project
Leader |
|
|
|
|
Name : |
Mr.
Sanjeev Dhiman |
|
Designation : |
Project
Leader |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Jaguar Land Rover Limited, Coventry, United Kingdom |
|
50249994 |
|
Chandrasekaran Ramakrishnan |
|
1 |
|
Sethna Keki Hoshang |
|
1 |
|
Puri Amarjit Singh |
|
1 |
|
Somaiya Bhagwanji Vijay |
|
1 |
|
Sanghavi Jatin Shruta |
|
1 |
|
Sathe Balkrishna Mahesh |
|
1 |
|
Total |
|
50250000 |
AS ON 16.12.2014
|
Names of Allottee |
|
No. of Shares |
|
Jaguar Land Rover Limited, Coventry, United Kingdom |
|
20000000 |
|
Total |
|
20000000 |
AS ON 30.07.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of wheel drive vehicles and sports cars. |
|
|
|
|
Products : |
Vehicles |
|
|
|
|
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 : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the Management. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th-32nd Floor,
Indiabulls Finance Centre, Elphinstone Mill Compound, Senapati Bapat Marg,
Elphinstone (West), Mumbai – 400 013, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding Company: |
Tata Motors Limited,
India (CIN No.: L28920MH1945PLC004520) |
|
|
|
|
Holding Company/ Parent Company: |
Jaguar Land Rover
Limited, United Kingdom |
CAPITAL STRUCTURE
AFTER 30.07.2014
Authorised Capital : Rs.5000.000 million
Issued, Subscribed & Paid-up Capital : Rs.2802.500
million
AS ON 30.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000000 |
Equity Shares |
Rs.10/- each |
Rs.5000.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50250000 |
Equity Shares |
Rs.10/- each |
Rs.502.500
million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000000 |
Equity Shares |
Rs.10/- each |
Rs.5000.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
41250000 |
Equity Shares |
Rs.10/- each |
Rs.412.500 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
412.500 |
42.500 |
|
(b) Reserves &
Surplus |
|
(168.018) |
(40.478) |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
50.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
244.482 |
52.022 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) Long-term provisions |
|
0.194 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.194 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
28.922 |
1.760 |
|
(c) Other current
liabilities |
|
2.169 |
0.670 |
|
(d) Short-term provisions |
|
0.047 |
0.000 |
|
Total Current Liabilities
(4) |
|
31.138 |
2.430 |
|
|
|
|
|
|
TOTAL |
|
275.814 |
54.452 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
21.294 |
0.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
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 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
21.294 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
|
205.129 |
54.451 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
49.391 |
0.001 |
|
Total Current Assets |
|
254.520 |
54.452 |
|
|
|
|
|
|
TOTAL |
|
275.814 |
54.452 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
48.327 |
0.000 |
|
|
|
TOTAL |
|
48.327 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
|
48.454 |
0.000 |
|
|
|
Other expenses |
|
126.366 |
40.478 |
|
|
|
TOTAL |
|
174.820 |
40.478 |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
(126.493) |
(40.478) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(126.493) |
(40.478) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.047 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(127.540) |
(40.478) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
|
(127.540) |
(40.478) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(127.540) |
(40.478) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(6.16) |
(102.36) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
|
|
Current maturities of long-term debt |
|
NA |
NA |
|
Cash generated
from operations |
|
NA |
NA |
|
Net cash flows from (used in) operations |
|
(144.809) |
(38.049) |
|
Net cash flows from (used in) operating
activities |
|
(146.981) |
(38.049) |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(46.24) |
(74.34) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.52) |
(0.78) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
8.17 |
22.41 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs. In Million |
Rs. In Million |
|
Share Capital |
|
42.500 |
412.500 |
|
Reserves & Surplus |
|
(40.478) |
(168.018) |
|
Share Application money
pending allotment |
|
50.000 |
0.000 |
|
Net worth |
|
52.022 |
244.482 |
|
|
|
|
|
|
Long-term borrowings |
|
0.000 |
0.000 |
|
Short term borrowings |
|
0.000 |
0.000 |
|
Total borrowings |
|
0.000 |
0.000 |
|
Debt/Equity ratio |
|
0.000 |
0.000 |
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 |
No |
|
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 about one year
and five months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about one year and
five months |
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 |
PRINCIPAL ACTIVITY:
The Company’s principal activity is to act as the vehicle for
continuation and expansion of the Jaguar Land Rover operations in India. The
financial statements are prepared under Indian Generally Accepted Accounting
Principles (GAAP) and Accounting Standards notified under Section 211 (3C) of
the Companies Act, 1956 and the relevant provisions thereof.
REVIEW OF BUSINESS
AND FUTURE DEVELOPMENTS:
During the period, the Company had no turnover from the sale of vehicles
or components.
Other income relates to the provision of services to group companies,
interest on fixed deposits and gains on foreign exchange. During the year, the
Company continued to establish the framework for future operations of Jaguar
Land Rover in India. The Directors, along with their counterparts based in the
Group headquarters in England, UK, continue to assess the future strategic and
operational plans for the Company.
The Company has embarked upon a project to acquire the existing Jaguar
Land Rover Indian sales operations, currently undertaken by an importer. This
will include the sale and distribution of all Jaguar Land Rover vehicles and
After Market Operations.
The Company is also analysing its opportunities relating to
manufacturing, product development and other related automotive activities in
India.
INCREASE IN SHARE
CAPITAL:
During the year ended March 31, 2014, the paid-up capital was increased from
INR 42.500 million to INR 412.500 million divided into 41250000 equity shares
of INR 10/- each.
INDEX
OF CHARGES:
No Charges Exist for Company.
FIXED ASSETS:
·
Motor Vehicles
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 : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
42 |
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.