MIRA INFORM REPORT
|
Report No. : |
355885 |
|
Report Date : |
28.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOSEI MINDA ALUMINUM COMPANY PRIVATE LIMITED (w.e.f. 19.09.2014) |
|
|
|
|
Formerly Known
As : |
KOSEI MINDA ALUMINUM COMPANY LIMITED (w.e.f. 05.09.2011) VARADA
AUTO COMPONENTS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.20/A and A/B, SIPCOT Industrial Growth Center, Oragadam
Extension Scheme, RNS Park, Village Vadakkupattu, Sriperubudur Taluk – 603204,
Tamilnadu |
|
Tel. No.: |
91-124-2290693 / 428 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2015 |
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|
|
|
Date of
Incorporation : |
10.03.2011 |
|
|
|
|
Com. Reg. No.: |
18-079581 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 818.626 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910TN2011PTC079581 |
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|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEV10802B |
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|
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PAN No.: [Permanent Account No.] |
AADCV5849G |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the manufacture, development and sale of aluminium wheels and other accessories / parts for automobile industry. (Registered Activity) |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 999500 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2011 having moderate track. The name of the company has changed from KOSEI MINDA ALUMINUM COMPANY
LIMITED to KOSEI MINDA ALUMINUM COMPANY PRIVATE LIMITED with effect from 19th
September 2015. The company possesses healthy revenue base marked by adequate cash
accruals. However, rating is constrained on account of continuous accumulated
loss, moderate debt level and huge unfavourable gap between trade payables
and trade receivables. Trade relations are fair. Business is active. Payments are slow but
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.
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 |
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
31-03-2015.
LOCATIONS
|
Registered Office / Factory: |
Plot No.20/A and 20/B, SIPCOT Industrial Growth Center, Oragadam Extension
Scheme, RNS Park, Village Vadakkupattu, Sriperubudur Taluk – 603204,
Tamilnadu, India |
|
Tel. No.: |
91-124-2290693 / 428 |
|
Fax No.: |
91-124-2240695 |
|
E-Mail : |
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|
Website : |
DIRECTORS
AS ON 28.09.2015
|
Name : |
Shingo Nagata |
|
Designation : |
Managing director |
|
Address : |
No-103 Sandon Palace Gardens, Thriveni Nagar Vadakupattu Vill, Singaperumal Koil, Kanchipuram - 603204, Tamilnadu, India |
|
Date of Appointment : |
07.04.2015 |
|
DIN No.: |
06926400 |
|
|
|
|
Name : |
Sudhir Jain |
|
Designation : |
Director |
|
Address : |
K-10/03, DLF Phase-II, Gurgaon - 122002, Haryana, India |
|
Date of Appointment : |
07.12.2013 |
|
DIN No.: |
00010445 |
|
|
|
|
Name : |
Nirmal Kumar Minda |
|
Designation : |
Director |
|
Address : |
J I0/33 DLF Phase-II, Gurgaon - 122002, Haryana, India |
|
Date of Appointment : |
10.03.2011 |
|
DIN No.: |
00014942 |
|
|
|
|
Name : |
Shunkichi Kamiya |
|
Designation : |
Director |
|
Address : |
42-Shimizukaoka, Yatomi-Cho, Mizuho-Ku, Nagoya, Aichi, Japan, Nagoya, 470038, , Japan |
|
Date of Appointment : |
21.03.2011 |
|
DIN No.: |
03482173 |
|
|
|
|
Name : |
Subbanna Anandakumar |
|
Designation : |
Additional director |
|
Address : |
Drushti, No. 320 G, 9th A Main Road, 40th Cross Road, 5th Block, Jayanagar, Bangalore- 560041, Karnataka, India |
|
Date of Appointment : |
12.12.2015 |
|
DIN No.: |
07362324 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
No. of Shares |
|
Nirmal K. Minda |
9400 |
|
Sudhir Jain |
100 |
|
Harish Chander Dhamija |
100 |
|
Vikas Jain |
100 |
|
Praveen Juneja |
100 |
|
Debadas Panda |
100 |
|
Eden Motors Limited, India |
20000 |
|
SBR Auto Components Limited, India |
20000 |
|
Kosei International Trade and Investment Company Limited, Hong Kong |
38212586 |
|
Minda Investments Limited, India |
24508800 |
|
Kosei Aluminum (Thailand) Company Limited, Thailand |
19091280 |
|
Atul Jain |
100 |
|
Total |
81862666 |
AS ON 19.07.2014
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 |
70.00 |
|
Bodies corporate |
29.94 |
|
Directors or relatives of Directors |
0.01 |
|
Other top fifty shareholders |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the manufacture, development and
sale of aluminium wheels and other accessories / parts for automobile industry.
(Registered Activity) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Chartered Accountant |
|
Address : |
6th and 7th Floor, A Block, Tidel Park (Module 601,701 and 702) No4,
Rajiv Gandhi Salai Taramani , Chennai-600113, Tamilnadu, India |
|
PAN No.: |
ACHFS9118A |
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Memberships : |
--- |
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Collaborators : |
---- |
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Ultimate holding
company: |
Kosei Aluminium Company Limited, Japan |
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Holding Company : |
Kosei International Trade and Investment Company Limited, Hong Kong |
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Fellow subsidiary : |
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Enterprises owned
or significantly influenced by key management
personnel : |
|
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000000 |
Equity Shares |
Rs.10/- each |
Rs. 950.000 Million |
|
|
|
|
|
Isued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
81862666 |
Equity Shares |
Rs.10/- each |
Rs. 818.626
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
818.626 |
818.626 |
775.000 |
|
(b) Reserves &
Surplus |
(468.791) |
(453.480) |
(207.344) |
|
(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) |
349.835 |
365.146 |
567.656 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
736.027 |
564.544 |
339.268 |
|
(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 |
9.024 |
5.426 |
1.075 |
|
Total Non-current
Liabilities (3) |
745.051 |
569.970 |
340.343 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
103.823 |
135.462 |
87.975 |
|
(b) Trade payables |
571.077 |
297.648 |
123.608 |
|
(c) Other current
liabilities |
170.485 |
121.240 |
32.478 |
|
(d) Short-term provisions |
7.910 |
2.540 |
6.135 |
|
Total Current Liabilities
(4) |
853.295 |
556.890 |
250.196 |
|
|
|
|
|
|
TOTAL |
1948.181 |
1492.006 |
1158.195 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1102.214 |
1132.505 |
902.934 |
|
(ii) Intangible Assets |
0.150 |
0.344 |
0.289 |
|
(iii) Capital
work-in-progress |
156.581 |
4.689 |
41.846 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.212 |
11.480 |
13.452 |
|
(e) Other Non-current
assets |
19.869 |
18.454 |
24.347 |
|
Total Non-Current Assets |
1293.026 |
1167.472 |
982.868 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2.500 |
2.500 |
0.000 |
|
(b) Inventories |
124.254 |
75.522 |
60.264 |
|
(c) Trade receivables |
234.042 |
158.490 |
57.391 |
|
(d) Cash and cash
equivalents |
210.645 |
0.826 |
10.689 |
|
(e) Short-term loans and
advances |
83.714 |
87.196 |
46.983 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
655.155 |
324.534 |
175.327 |
|
|
|
|
|
|
TOTAL |
1948.181 |
1492.006 |
1158.195 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
1253.074 |
672.769 |
109.678 |
|
|
Other Income |
18.928 |
3.458 |
14.469 |
|
|
TOTAL |
1272.002 |
676.227 |
124.147 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
748.474 |
462.172 |
103.815 |
|
|
Purchases of
Stock-in-Trade |
2.959 |
7.915 |
0.724 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
7.756 |
(21.884) |
(16.669) |
|
|
Employees benefits
expense |
97.890 |
86.934 |
47.790 |
|
|
Prior period items before
tax |
0.000 |
0.000 |
0.535 |
|
|
Other expenses |
315.952 |
302.902 |
129.834 |
|
|
TOTAL |
1173.031 |
838.039 |
266.029 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
98.971 |
(161.812) |
(141.882) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
40.660 |
28.821 |
10.883 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
58.311 |
(190.633) |
(152.765) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
73.622 |
55.503 |
24.023 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(15.311) |
(246.136) |
(176.788) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(15.311) |
(246.136) |
(176.788) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
46.358 |
93.012 |
107.988 |
|
|
TOTAL EARNINGS |
46.358 |
93.012 |
107.988 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Material and Packing
material |
8.083 |
0.000 |
87.280 |
|
|
Spares and Consumables |
19.215 |
11.219 |
10.211 |
|
|
Capital Goods |
134.090 |
111.334 |
54.274 |
|
|
Purchase of Traded Goods |
0.000 |
7.265 |
0.619 |
|
|
TOTAL IMPORTS |
161.388 |
129.818 |
152.384 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(0.19) |
(3.04) |
(3.28) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
144.518 |
78.653 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
306.586 |
(92.579) |
(439.059) |
|
Net cash flows from (used in) operating activities |
306.586 |
(92.764) |
(439.059) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(1.22) |
(36.59) |
(161.19) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.90 |
(24.05) |
(129.36) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.85 |
(16.55) |
(15.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
(0.67) |
(0.31) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.81 |
2.13 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.77 |
0.58 |
0.70 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
775.000 |
818.626 |
818.626 |
|
Reserves & Surplus |
(207.344) |
(453.480) |
(468.791) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
567.656 |
365.146 |
349.835 |
|
|
|
|
|
|
long-term borrowings |
339.268 |
564.544 |
736.027 |
|
Short term borrowings |
87.975 |
135.462 |
103.823 |
|
Current Maturities of
Long Term Debt |
0.000 |
78.653 |
144.518 |
|
Total borrowings |
427.243 |
778.659 |
984.368 |
|
Debt/Equity ratio |
0.753 |
2.132 |
2.814 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
109.678 |
672.769 |
1253.074 |
|
|
|
513.404 |
86.256 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
109.678 |
672.769 |
1253.074 |
|
Profit/Loss |
(176.788) |
(246.136) |
(15.311) |
|
|
(161.19%) |
(36.59%) |
(1.22%) |
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 |
No |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Other external commercial borrowings |
158.800 |
191.300 |
|
Foreign currency term loans from others |
577.227 |
368.966 |
|
Total |
736.027 |
560.266 |
INDEX OF CHAGRES : NO
CHARGES EXIST FOR COMPANY
PERFORMANCE REVIEW:
During the year the company has achieved revenue from its operations (net) of Rs. 1253.074 Million and incurred loss of Rs 15.311 Million as against the revenue from its operations (net) of Rs. 672.769 Million and loss of Rs 246.137 Million during the previous year.
CORPORATE INFORMATION
Subject was incorporated as a public company and has been converted into a private limited company with effect from September 19, 2014. The Company is a joint venture between “Kosei” Group of Japan and “Minda” Group in India, where in, Kosei and Minda hold 70 percent and 30 percent shareholdings respectively in the Joint Venture Company. The Company is engaged in the manufacture, development and sale of aluminium wheels and other accessories / parts for automobile industry.
FIXED ASSETS
Tangible Assets
- Buildings
- Office building
- Plant and equipment
- Vehicles
- Furniture and fixtures
- Computer equipments
- Office equipment
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.6.20 |
|
|
1 |
Rs.98.29 |
|
Euro |
1 |
Rs.74.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
AMRT |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.