MIRA INFORM REPORT
|
Report No. : |
352618 |
|
Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAERTEX INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Saertex Excellence Centre, S No. 282, Mann Village, Mulshi Hinjewadi
Phase II, Pune – 411057, Maharashtra |
|
Tel. No.: |
91-20-66537600 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2014 |
|
|
|
|
Date of
Incorporation : |
30.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-020804 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.040 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18109PN2005PTC020804 |
|
|
|
|
IEC No.: |
3105007890 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNES15293F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS1011M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is principally engaged in the manufacture of Stich Bonded Fabrics
mainly catering to Windmill and other industries manufacturing Auto bodies,
Boat bodies, Aircraft. (Confirmed by Management) |
|
|
|
|
No. of Employees
: |
54 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 subsidiary of Saertex Beteiligunsgellschaft mbH, Germany,
incorporated in the year 2005. It has satisfactory track. For the financial year ended 2014, the company has modest operational
activity marked by decent top line growth of 26%. However, it has incurred
losses during the year. The company has sound financial base marked by strong managerial and
product support which it receives from its holding company. Trade relations are fair. Business is active. Payments are usually correct. The company 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.
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mrs. Aarti Kadalkar |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-66537600 |
|
Date : |
03.12.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Saertex Excellence Centre, S No. 282, Mann Village, Mulshi Hinjewadi
Phase II, Pune – 411057, Maharashtra, India |
|
Tel. No.: |
91-20-66537600 |
|
Fax No.: |
91-20-66537603 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
AS ON 30.06.2014
|
Name : |
Mr. Chandra Palackal Kunjachan Bose |
|
Designation : |
Managing director |
|
Address : |
S.No.197/2/3, FL No. 703, Aria Bld, Near CTR Company,
Nagar Road, Viman Nagar, Pune-411014, Maharashtra, India |
|
Date of Birth/Age : |
07.01.1959 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No.: |
01550320 |
|
|
|
|
Name : |
Mr. Stefan Gunter Huge Sive Huwe |
|
Designation : |
Director |
|
Address : |
Anne Frank Ring 14, Steinfurt, 14, Germany |
|
Date of Birth/Age : |
15.05.1966 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No.: |
02155010 |
|
|
|
|
Name : |
Mr. Bruno Heirich Lammers |
|
Designation : |
Director |
|
Address : |
Emsdetten, Veltrup 20, Emsdetten, 48282, Germany |
|
Date of Birth/Age : |
21.05.1953 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No.: |
02461867 |
KEY EXECUTIVES
|
Name : |
Mrs. Aarti Kadalkar |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Saertex Beteilingungs GMBH, Germany |
|
1407 |
|
Saertex GMBH and Company, Germany |
|
1 |
|
Total |
|
1408 |
AS ON 30.06.2014
|
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 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is principally engaged in the manufacture of Stich Bonded Fabrics
mainly catering to Windmill and other industries manufacturing Auto bodies,
Boat bodies, Aircraft. (Confirmed by Management) |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Germany · USA · China · Sri Lanka |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· USA · China · Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days and 60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days and 60 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
|
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No. of Employees : |
54 (Approximately) |
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
802, Lloyds Chambers , Block II, 409, Barne Road, Near Sinchan Bhavan,
Pune-411011, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS2967E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Saertex
Beteilingungs GMBH, Germany |
|
|
|
|
Fellow Subsidiaries : |
·
Saertex USA LLC ·
Saertex Reinforcement China Co. Limited ·
Saertex Multicom GMBH ·
Saertex Portugal ·
Saertex South Africa (Pty) Limited |
|
|
|
|
Associates : |
Saertex Gmbh and
Co. KG |
CAPITAL STRUCTURE
AS ON 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500 |
Equity Shares |
Rs. 5000/- each |
Rs. 7.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,408 |
Equity Shares |
Rs. 5000/- each |
Rs. 7.040
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.040 |
7.040 |
7.040 |
|
(b) Reserves & Surplus |
153.788 |
158.866 |
153.928 |
|
(c) Deferred Government
Subsidiary |
1.898 |
2.482 |
3.066 |
|
(d) 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) |
162.726 |
168.388 |
164.034 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
7.898 |
34.999 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.023 |
1.657 |
1.582 |
|
Total
Non-current Liabilities (3) |
0.023 |
9.555 |
36.581 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
30.556 |
52.274 |
69.549 |
|
(b)
Trade payables |
63.722 |
64.067 |
39.391 |
|
(c)
Other current liabilities |
36.329 |
81.308 |
65.680 |
|
(d)
Short-term provisions |
(4.159) |
0.119 |
0.094 |
|
Total
Current Liabilities (4) |
126.448 |
197.768 |
174.714 |
|
|
|
|
|
|
TOTAL |
289.197 |
375.711 |
375.329 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
57.893 |
76.471 |
87.897 |
|
(ii)
Intangible Assets |
0.287 |
1.307 |
1.807 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
9.721 |
7.504 |
7.670 |
|
(d) Long-term Loan
and Advances |
14.196 |
14.006 |
13.864 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
82.097 |
99.288 |
111.238 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
64.449 |
97.635 |
57.474 |
|
(c)
Trade receivables |
86.747 |
97.409 |
128.050 |
|
(d)
Cash and cash equivalents |
3.553 |
2.008 |
0.957 |
|
(e)
Short-term loans and advances |
52.351 |
79.371 |
77.610 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
207.100 |
276.423 |
264.091 |
|
|
|
|
|
|
TOTAL |
289.197 |
375.711 |
375.329 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
379.643 |
300.219 |
350.725 |
|
|
|
Other Income |
6.917 |
24.544 |
8.550 |
|
|
|
TOTAL (A) |
386.560 |
324.763 |
359.275 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
350.503 |
296.629 |
420.447 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.057 |
28.134 |
(61.172) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.241 |
3.819 |
15.845 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
31.816 |
24.315 |
(77.017) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
20.905 |
17.211 |
20.987 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
10.911 |
7.104 |
(98.004) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.989 |
2.166 |
(26.146) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(5.078) |
4.938 |
(71.858) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
169.344 |
138.598 |
125.719 |
|
|
TOTAL EARNINGS |
169.344 |
138.598 |
125.719 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
11.160 |
39.835 |
19.128 |
|
|
|
Consumables and Spares |
0.610 |
1.222 |
0.811 |
|
|
|
Capital Goods |
2.792 |
0.528 |
0.000 |
|
|
TOTAL IMPORTS |
14.562 |
41.585 |
19.939 |
|
|
|
|
|
|
|
|
|
|
Earnings/ /
(Loss) Per Share (Rs.) |
(3606.53) |
3507.10 |
51035.51 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
400.000 |
|
|
|
|
|
The above information has been parted by Mrs. Aarti Kadalkar (Accounts
Department)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term Loan |
|
|
|
|
Term Loan from Deutsche Bank |
0.000 |
0.000 |
4.000 |
|
ECB Loan From Saertex, GmBH |
0.000 |
33.359 |
28.374 |
|
Total |
0.000 |
33.359 |
32.374 |
|
|
|
|
|
|
Cash generated from (used in) operations |
75.694 |
54.698 |
45.740 |
|
|
|
|
|
|
Net cash generated from the operations |
66.073 |
51.048 |
45.635 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(1.34) |
1.64 |
(20.49) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.50 |
9.37 |
(17.44) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.90 |
1.93 |
(26.66) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.04 |
(0.60) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.19 |
0.56 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64 |
1.40 |
1.51 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
7.040 |
7.040 |
7.040 |
|
Reserves & Surplus |
153.928 |
158.866 |
153.788 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
160.968 |
165.906 |
160.828 |
|
|
|
|
|
|
Long-term borrowings |
34.999 |
7.898 |
0.000 |
|
Short term borrowings |
69.549 |
52.274 |
30.556 |
|
Current Maturities of
Long-Term Loans |
32.374 |
33.359 |
0.000 |
|
Total
borrowings |
104.548 |
60.172 |
30.556 |
|
Debt/Equity
ratio |
0.649 |
0.363 |
0.190 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
350.725 |
300.219 |
379.643 |
|
|
|
(14.400) |
26.455 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
350.725 |
300.219 |
379.643 |
|
Profit |
(71.858) |
4.938 |
(5.078) |
|
|
(20.49%) |
1.64% |
(1.34%) |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.12.2014 (Rs.
In Million) |
31.12.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
ECB Loan From SAERTEX, gmBH |
0.000 |
7.898 |
|
|
|
|
|
Total |
0.000 |
7.898 |
BACKGROUND:
The Company incorporated under the Companies Act, 1956 on 13th
May 2005 and presently it is a wholly owned subsidiary company of Saertex
Beteiligunsgesellschaft mbH of Germany. The Company is primarily engaged in the
manufacturer of Stitch Bonded Fabrics mainly catering to Windmill and other
Industries manufacturing Auto bodies, Boat bodies, Aircraft, etc.
CONTINGENT
LIABILITIES:
i) Income Tax demands in respect of which company is in appeal Rs. Nil
(Previous year Rs. 8.484 Million)
ii) Sales Tax (MVAT) demands in respect of which company is in appeal
Rs. 0.787 (Previous year Rs. 0.787Million)
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
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·
Vehicles
·
Office Equipment
·
Computer 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,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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. 66.84 |
|
|
1 |
Rs. 101.04 |
|
Euro |
1 |
Rs. 73.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
IND |
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 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.