MIRA INFORM REPORT
|
Report No. : |
356154 |
|
Report Date : |
31.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOKAI RUBBER AUTO-PARTS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.337, Phase II, KIADB Harrohalli Industrial Area, Kanakapura
Taluka, Ramnagar – 561112, Karnataka |
|
Tel. No.: |
91-80-39919900 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
22.04.2008 |
|
|
|
|
Com. Reg. No.: |
08-046147 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1800.00 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25190KA2008PTC046147 |
|
|
|
|
IEC No.: |
0709013418 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRT06263F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT9033B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automotive Components like Anti-vibration Rubber
Products. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 1860000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Sumitomo Riko Company Limited. The company
is engaged in the manufacturing of automotive rubber products. The ratings also take into consideration the adverse financial metrics
of the company as reflected by its loss making nature of operations, highly
aggressive capital structure and moderate debt coverage metrics during FY
2015.’ However, rating continues to derive strength from strong financial and
managerial support that company receives from its holding entity backed by
its well experience management team and long-standing customer relations. 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. |
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/ Head Office : |
Plot No.337, Phase II, KIADB Harrohalli Industrial Area, Kanakapura
Taluk, Ramnagar – 561112, Karnataka, India |
|
Tel. No.: |
91-80-39919900 |
|
Mobile No.: |
91-9686192235 (Mr. Madhukesh) |
|
Fax No.: |
91-80-39919901 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10 Acers |
|
|
|
|
Factory : |
Plot No. SP2-60 to 64, New Industrial Complex (Majrakath), Neemrana,
District Alwar - 301705, Rajasthan, India |
|
Area : |
8 Acers |
DIRECTORS
As on 31.03.2015
|
Name : |
Yasue Yonezawa |
|
Designation : |
Director |
|
Address : |
Skystage 1609, 1-45, Shinooka, Komai – 4850815, Japan |
|
Date of Birth/Age : |
20.03.1951 |
|
Date of Appointment : |
20.10.2009 |
|
DIN No.: |
02142923 |
|
|
|
|
Name : |
Naoki Hayashi |
|
Designation : |
Director |
|
Address : |
2-86, Johjoh-cho, Kasugai – 4860833, Japan |
|
Date of Birth/Age : |
03.04.1961 |
|
Date of Appointment : |
20.10.2009 |
|
PAN No.: |
AFGPH4664A |
|
DIN No.: |
02250752 |
|
|
|
|
Name : |
Toshio Iida |
|
Designation : |
Director |
|
Address : |
No. C 1 704 Uniworld City, Sector 32 40 Gurgaon – 122001, Haryana,
India |
|
Date of Birth/Age : |
03.04.1966 |
|
Date of Appointment : |
20.09.2013 |
|
DIN No.: |
06610919 |
KEY EXECUTIVES
|
Name : |
Mr. Anand M.S. |
|
Designation : |
Secretary |
|
Address : |
Door No.57, 4th Cross, 8th A Main, R P C Layout,
Vijayangara, 2nd Stage, Bangalore - 560104, Karnataka, India |
|
Date of Birth/Age : |
24.07.1983 |
|
Date of Appointment : |
03.03.2014 |
|
PAN No.: |
AVIPA2447A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Sumitomo Riko Company Limited (Formerly known as Tokai Rubber
Industries Limited), Japan |
1300000 |
72.22 |
|
Tokai Eastern Rubber (Thailand), Limited, Thailand |
500000 |
27.78 |
|
Total |
1800000 |
100.00 |
As on 17.04.2015
|
Names of Allottee |
|
No. of Shares |
|
Sumitomo Riko Company Limited, Japan |
|
700000 |
|
Total |
|
700000 |
Equity Share Break up (Percentage of Total Equity)
As on 25.07.2014
|
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 : |
Manufacturer of Automotive Components like Anti-vibration
Rubber Products. (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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|
|
||||
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Imports : |
Not Available |
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|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
|
||||||||||||||||||||||
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|
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centre, Anchorage II, 100/2, Richmond Road,
Bangalore – 560025, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Sumitomo Riko Company Limited, (Formerly Known as -Tokai Rubber Industries Limited) |
|
|
|
|
Fellow Subsidiaries
: |
|
CAPITAL STRUCTURE
After 30.08.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.1000/- each |
Rs.2500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.1000/- each |
Rs.2500.000 Million |
|
|
|
|
|
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.1000/- each |
Rs.2500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.1000/- each |
Rs.1800.000
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 |
1800.000 |
1800.000 |
1800.000 |
|
(b) Reserves & Surplus |
(1149.124) |
(833.453) |
(497.462) |
|
(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) |
650.876 |
966.547 |
1302.538 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
2.107 |
1.379 |
0.453 |
|
Total
Non-current Liabilities (3) |
2.107 |
1.379 |
0.453 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
760.000 |
480.000 |
0.000 |
|
(b) Trade payables |
213.121 |
168.961 |
128.375 |
|
(c) Other current liabilities |
40.326 |
88.862 |
169.293 |
|
(d) Short-term provisions |
0.191 |
0.989 |
0.256 |
|
Total
Current Liabilities (4) |
1013.638 |
738.812 |
297.924 |
|
|
|
|
|
|
TOTAL |
1666.621 |
1706.738 |
1600.915 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
976.427 |
1056.026 |
867.874 |
|
(ii) Intangible Assets |
4.777 |
7.418 |
10.031 |
|
(iii) Capital work-in-progress |
0.393 |
41.915 |
123.499 |
|
(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 |
8.737 |
61.007 |
46.726 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
990.334 |
1166.366 |
1048.130 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
181.639 |
171.123 |
107.031 |
|
(c) Trade receivables |
149.825 |
113.740 |
78.112 |
|
(d) Cash and cash equivalents |
106.975 |
52.443 |
255.699 |
|
(e) Short-term loans and
advances |
237.848 |
203.066 |
111.080 |
|
(f) Other current assets |
0.000 |
0.000 |
0.863 |
|
Total
Current Assets |
676.287 |
540.372 |
552.785 |
|
|
|
|
|
|
TOTAL |
1666.621 |
1706.738 |
1600.915 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
1182.825 |
696.911 |
|
|
|
Other Income |
5.595 |
3.426 |
|
|
|
TOTAL
(A) |
1188.420 |
700.337 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
951.050 |
570.511 |
|
|
|
Purchases of Stock-in-Trade |
56.656 |
109.202 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
18.707 |
(57.749) |
|
|
|
Employees benefits expense |
90.551 |
77.380 |
|
|
|
Other expenses |
181.762 |
201.038 |
|
|
|
TOTAL
(B) |
1298.726 |
900.382 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(110.306) |
(200.045) |
(163.735) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
66.028 |
18.096 |
2.729 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(176.334) |
(218.141) |
(166.464) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
139.337 |
117.850 |
93.416 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(315.671) |
(335.991) |
(259.880) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(315.671) |
(335.991) |
(259.880) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
(833.453) |
(497.462) |
(237.582) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
(1149.124) |
(833.453) |
(497.462) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
10.229 |
8.807 |
1.821 |
|
|
Others |
0.027 |
0.045 |
0.000 |
|
|
TOTAL
EARNINGS |
10.256 |
8.852 |
1.821 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
48.961 |
15.017 |
53.431 |
|
|
Components, stores and spare parts |
6.773 |
6.136 |
4.023 |
|
|
Capital Goods |
27.850 |
100.932 |
115.985 |
|
|
Traded goods |
15.100 |
118.451 |
24.124 |
|
|
TOTAL
IMPORTS |
98.684 |
240.536 |
197.563 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
175.37 |
186.66 |
(144.38) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(131.085) |
(343.516) |
(273.259) |
|
Net cash flow from operating activity |
(130.325) |
(343.879) |
(273.631) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(26.69) |
(48.21) |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(9.33) |
(28.70) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(18.95) |
(20.18) |
(17.59) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.48) |
(0.35) |
(0.20) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.17 |
0.50 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.67 |
0.73 |
1.86 |
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 |
1800.000 |
1800.000 |
1800.000 |
|
Reserves & Surplus |
(497.462) |
(833.453) |
(1149.124) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1302.538 |
966.547 |
650.876 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
480.000 |
760.000 |
|
Total
borrowings |
0.000 |
480.000 |
760.000 |
|
Debt/Equity
ratio |
0.000 |
0.497 |
1.168 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
696.911 |
1182.825 |
|
|
69.724 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
696.911 |
1182.825 |
|
Profit/ (Loss) |
(335.991) |
(315.671) |
|
|
(48.21%) |
(26.69%) |
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
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 |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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 |
No |
|
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 two 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 |
NOTE: Registered office of the company has been shifted from No.48-D, Survey No.65, KIADB Industrial Area, Yellapura Village, Doddaballapura, Bangalore – 561203, Karnataka, India to the present address w.e.f. 22.11.2011
BACKGROUND OF THE
COMPANY
The was incorporated in April 22, 2008 under the Companies Act, 1956 to manufacture automotive components like Anti-vibration Rubber Products. The Company is a wholly owned subsidiary of Sumitomo Riko Company Limited (Formerly known as Tokai Rubber Industries Limited,) Japan.
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Working Capital Loans The above working capital loans carry an interest rate of 9.85% to 10.50% (Sumitomo Riko Company Limited has provided Corporate Guarantee towards this loan) |
760.000 |
480.000 |
|
|
|
|
|
Total |
760.000 |
480.000 |
INDEX
OF CHARGES
No Charges Exist for Company
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 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.98.54 |
|
Euro |
1 |
Rs.72.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
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 |
|
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.