MIRA INFORM REPORT
|
Report No. : |
354793 |
|
Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASTA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 725, GIDC Manjusar, Taluka Savli, Vadodara-391775, Gujarat |
|
Tel. No.: |
91-2667-665000 / 665054 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.02.2005 |
|
|
|
|
Com. Reg. No.: |
11-151488 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 873.800 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100GJ2005PTC074962 |
|
|
|
|
IEC No.: |
0307040437 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA28803F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA1141A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing Continuously Transposed Conductors (CTC). (Registered Activity and also Confirmed by management) |
|
|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was promoted by Metrod (Malaysia) Berhad, a Malaysian company having many manufacturing units under its fold in different countries. The company is a subsidiary of ASTA Singapore Pte Limited, Singapore, a wholly owned subsidiary of ASTA Holdings GmbH, Austria. During the year 2012, Global Equity Partners has acquired ASTA Holdings GmbH from Metrod (Malaysia) Berhad. Consequently, the company is now wholly owned subsidiary of Global Equity Partners. The company is engaged in manufacturing Continuously Transposed Conductors (CTC). The company possesses moderate operational performance and it has incurred huge losses from its operational activities. However, ratings reflect company’s strong customer relationships led by its established market position in the continuously transposed conductors along with its low gearing and the expected financial support from its holding entity. Rating strength is partially offset by company’s foreign currency debt obligations and intense competition in the CTC industry and the company's average debt protection metrics. Trade relations are reported as fair. Payment terms are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. Note: As per the director report of 2014 financial figures
mentioned under the director report is of 2013 which is an error. Our
executive contacted Mr. Ajay, Accounts Manager of the subject company but he
has denied to provide any information on the financial report. Furthermore,
management of the company has also not filed its financial with government
department for the year 2015 and same are not available from any sources. |
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BB |
|
Rating Explanation |
Inadequate-credit-quality and high credit risk |
|
Date |
18.03.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
18.03.2015 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Ajay |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-2667-665000 |
|
Date : |
14.12.2015 |
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No. 725, GIDC Manjusar, Taluka Savli, Savli-391775, Gujarat,
India |
|
Tel. No.: |
91-2667-665000 / 665054 |
|
Fax No.: |
91-2667-264270 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Savli
Industrial Estate of Gujarat Industrial Development Corporation (GIDC) Near
Vadodara, Gujarat, India |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Nirmit Jha |
|
Designation : |
Managing director |
|
Address : |
102, Dreamland Flat, Near Krishnadham Society, Vasna Road, Vadodara –
390015, Gujarat, India |
|
Date of Birth/Age : |
06.02.1975 |
|
Date of Appointment : |
13.03.2012 |
|
DIN No.: |
05245570 |
|
|
|
|
Name : |
Mr. Josef Leopold Herzog |
|
Designation : |
Director |
|
Address : |
A-2560, Berndorf, Obere Oedlizerstrasse 68, Baden NA, Austria |
|
Date of Birth/Age : |
26.12.1962 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
05276336 |
|
|
|
|
Name : |
Mr. Herbert Herbert Roth |
|
Designation : |
Director |
|
Address : |
A-1190 Wien, Erbsenbachgasse 3/B4, Linz, NA, Austria |
|
Date of Birth/Age : |
08.02.1965 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
05276360 |
|
|
|
|
Name : |
Mr. Klaus Willibald Borstner |
|
Designation : |
Director |
|
Address : |
A-8160 Weiz, Gottelsberg, 251, Weiz NA, Austria |
|
Date of Birth/Age : |
03.01.1965 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
06556717 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Asta Singapore Pte. Limited, Singapore |
|
87379856 |
|
Asta International Pte. Limited, Singapore |
|
100 |
|
Total |
|
87379956 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
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 manufacturing Continuously Transposed Conductors (CTC). (Registered Activity and also Confirmed by management) |
|
|
|
|
Products : |
Continuously Transposed Conductors (CTC) |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash / L/C / Credit |
|
|
|
|
Purchasing : |
Cash / L/C / Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
110 (Approximately) |
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Bankers : |
|
||||||||||||||||||||||
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||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Safai Profitaire, B4, 3rd Floor, Corporate Road, Opposite
Auda Garden, Pralhad Nagar, Ahmedabad, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFB4734C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
ASTA Singapore Pte
Limited, Singapore |
|
|
|
|
Other related Parties : |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
87,379,956 |
Equity Shares |
Rs.10/- each |
Rs. 873.800
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 |
873.800 |
873.800 |
552.099 |
|
(b) Reserves & Surplus |
(367.153) |
(290.888) |
(212.671) |
|
(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) |
506.647 |
582.912 |
339.428 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
157.136 |
183.914 |
313.175 |
|
(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 |
3.271 |
2.005 |
1.235 |
|
Total Non-current
Liabilities (3) |
160.407 |
185.919 |
314.410 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
128.107 |
207.683 |
62.084 |
|
(b) Trade
payables |
93.337 |
40.598 |
308.392 |
|
(c) Other
current liabilities |
6.928 |
17.950 |
49.519 |
|
(d) Short-term
provisions |
0.608 |
0.471 |
0.074 |
|
Total Current
Liabilities (4) |
228.980 |
266.702 |
420.069 |
|
|
|
|
|
|
TOTAL |
896.034 |
1035.533 |
1073.907 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
603.473 |
661.765 |
736.856 |
|
(ii) Intangible
Assets |
0.167 |
0.600 |
1.034 |
|
(iii)
Capital work-in-progress |
0.360 |
0.000 |
5.403 |
|
(iv)
Intangible assets under development |
2.221 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.099 |
10.890 |
8.338 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
621.320 |
673.255 |
751.731 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
47.211 |
67.780 |
106.072 |
|
(b)
Inventories |
158.142 |
230.142 |
136.450 |
|
(c) Trade
receivables |
45.921 |
43.458 |
33.410 |
|
(d) Cash
and cash equivalents |
19.891 |
17.804 |
29.178 |
|
(e)
Short-term loans and advances |
3.549 |
3.094 |
17.066 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
274.714 |
362.278 |
322.176 |
|
|
|
|
|
|
TOTAL |
896.034 |
1035.533 |
1073.907 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
1069.799 |
921.127 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
1084.824 |
974.570 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
(15.025) |
(53.443) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
NA |
63.192 |
61.562 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
(78.217) |
(115.005) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
0.000 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(76.265) |
(78.217) |
(115.006) |
|
|
|
|
|
|
|
|
|
Add |
Earlier year excess |
NA |
(212.671) |
(97.664) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(290.888) |
(212.670) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
39.723 |
42.245 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
(0.87) |
(0.90) |
(2.08) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
34.797 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
202.636 |
(239.270) |
(8.018) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
(7.31) |
(12.49) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(7.55) |
(10.76) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
(0.13) |
(0.34) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.56 |
0.67 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.36 |
0.77 |
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 |
552.099 |
873.800 |
873.800 |
|
Reserves & Surplus |
(212.671) |
(290.888) |
(367.153) |
|
Net
worth |
339.428 |
582.912 |
506.647 |
|
|
|
|
|
|
long-term borrowings |
313.175 |
183.914 |
157.136 |
|
Short term borrowings |
62.084 |
207.683 |
128.107 |
|
Current maturities of
long-term debts |
34.797 |
0.000 |
0.000 |
|
Total
borrowings |
410.056 |
391.597 |
285.243 |
|
Debt/Equity
ratio |
1.208 |
0.672 |
0.563 |
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 |
Yes |
|
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 two 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 |
Yes |
|
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 |
NOTE: The registered office of the company has been
shifted from 161/162, Mittal Court A Wing 16th Floor, Nariman Point, Mumbai-
400021, Maharashtra India to the present
address w.e.f. 11.04.2013
BACKGROUND:
Subject was promoted by Metrod
(Malaysia) Berhad, a Malaysian company having many manufacturing units under
its fold in different countries. The company is a subsidiary of ASTA Singapore
Pte Limited, Singapore, a wholly owned subsidiary of ASTA Holdings GmbH,
Austria. During the year 2012, Global Equity Partners has acquired ASTA
Holdings GmbH from Metrod (Malaysia) Berhad. Consequently, the company is now
wholly owned subsidiary of Global Equity Partners.
The company is engaged in
manufacturing Continuously Transposed Conductors (CTC). The company's plant is
situated at Savli Industrial Estate of Gujarat Industrial Development
Corporation (GIDC) near Vadodara in the state of Gujarat and was commissioned
on 1st July, 2009.
WORKING AND
OPERATIONS
As of now ASTA India is present in CTC market and 98% of its volume is from domestic customer. However, following steps are taken / in the process with respect to future growth strategy;
1. MICA production is stabilized with 66% capacity utilization with three years supply contract for 60~90 MT p.a. with 15% volume growth on YoY basis;
2. In the process of getting RDSO approval for supplying CTC (Special design involving higher temp. class enamels); this is expected to be clear by the Apr-May 2013. The product hence mentioned is seen with an annual potential of 1800 MT in domestic with ASTA India eying 20% of it during FY 2013-14
3. We have received order of 240 MT of H-class strips to be supplied to ASTA Austria during FY-2013-14; the product also has been successfully exported to M/s Al-Ahlaia and ASTA is approved for all its future requirements vis a vis H-class CTC. This is a potential development aiding to Exports targets;
4. Bunched conductors and KICC are seen as new products for ASTA India by the end of FY 2013-14; both of these products are high-end products and complement the CTC. Strategically with Bunched conductors in its portfolio, ASTA India is evolving to provide all sorts of winding solutions in a single manufacturing facility;
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
157.136 |
183.914 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
22.390 |
111.128 |
|
Total |
179.526 |
295.042 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10151937 |
20/12/2011 * |
210,000,000.00 |
Bank of Baroda |
Corporate Financial Services, 1st Floor, Opp. Petrol Pump, R. C. Dutt
Road, Alkapuri,, Vadodara, Gujarat - 390007, INDIA |
B28649747 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
- Land
- Building
- Office Equipments
- Furniture and
Fixtures
- Computer
Equipments
- Plant and Equipment
- Factory Equipments
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 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.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
-- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
41 |
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.