MIRA INFORM REPORT
|
Report No. : |
301840 |
|
Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
JBM OGIHARA AUTOMOTIVE INDIA LIMITED |
|
|
|
|
Registered Office
: |
601, Hemkunt Chambers, 89, Nehru Place, New Delhi - 110019 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.02.2009 |
|
|
|
|
Com. Reg. No.: |
55-187584 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 220.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100DL2009PLC187584 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCJ1334P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Supplying of Steel Stampings and Sub-assembly of
Auto Parts Sheet Metal Parts. |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 699700 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating taken into consideration extensive experience of JOAIL’s
promoters in the automotive sheet metal business supported by healthy
operational performance and fair profitability margins of the company. Trade relations are fair. Business is active. Payment terms are
reported to be 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
ICRA |
|
Rating |
Term Loans = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
November 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
LC / BG = A3 |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
November 2014 |
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
31-03-2014.
LOCATIONS
|
Registered Office : |
601, Hemkunt Chambers, 89, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-26427104/ 06 |
|
Fax No.: |
91-11-26427100 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Plot No. 9, Institutional Area, Sector 44, Gurgaon - 122003, Haryana, India |
|
Tel. No.: |
91-124-4674500/ 4674550 |
|
Fax No.: |
91-124-4674599 |
|
|
|
|
Factory : |
Building No. 6, Onsite Supplier Park Building 6, Toyota Kirloskar Motor Private Limited, Plot No. 1, Bidadi Industrial Area, Bidadi, Ramanagaram, Bangalore - 562109, Karnataka, India |
DIRECTORS
AS ON 22.09.2014
|
Name : |
Mr. Surendra Arya |
|
Designation : |
Director |
|
Address : |
Neelanchal No.7, Bandh Road, Chandanhulla, Mehrauli, New Delhi - 110030, India |
|
Date of Birth/Age : |
10.11.1957 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
13.02.2009 |
|
DIN No.: |
00004626 |
|
|
|
|
Name : |
Mr. Nishant Arya |
|
Designation : |
Director |
|
Address : |
Neelanchal No.7, Bandh Road, Chandanhulla, Mehrauli, New Delhi - 110030, India |
|
Date of Birth/Age : |
01.11.1986 |
|
Qualification : |
B.B.A |
|
Date of Appointment : |
13.02.2009 |
|
DIN No.: |
00004954 |
|
|
|
|
Name : |
Mr. Anand Swaroop Khandelwal |
|
Designation : |
Director |
|
Address : |
C - 5A/14, 2nd Floor, Janakpuri, New Delhi – 110058, India |
|
Date of Birth/Age : |
07.10.1960 |
|
Qualification : |
CA |
|
Date of Appointment : |
21.09.2009 |
|
DIN No.: |
00004816 |
|
|
|
|
Name : |
Hiroshi Morita |
|
Designation : |
Director |
|
Address : |
231, Latkrabang Industrial Estate Zone 3, Chalongkrung Road, Lamplathew, Latkrabang, Bangkok 10520, Thailand |
|
Date of Birth/Age : |
15.02.1961 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
02.07.2009 |
|
DIN No.: |
02653966 |
|
|
|
|
Name : |
Thanathorn Juangroongruangkit |
|
Designation : |
Director |
|
Address : |
157, Lakeside Villa II, Pravej, Bangkok, 10, Thailand |
|
Date of Birth/Age : |
20.11.1978 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.09.2009 |
|
DIN No.: |
01474342 |
|
|
|
|
Name : |
Channarong Lelanapaparn |
|
Designation : |
Director |
|
Address : |
69-67, Moo 3 Dokmai Pravej, Bangkok 10250, Thailand |
|
Date of Birth/Age : |
22.01.1952 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
28.03.2012 |
|
DIN No.: |
01474289 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Surendra Arya |
|
1 |
|
Nishant Arya |
|
1 |
|
Hansraj Saini |
|
1 |
|
Anand Swaroop |
|
1 |
|
Naresh Kumar Goel |
|
1 |
|
JBM Auto Limited, India |
|
11219994 |
|
ANS Holding Private Limited, India |
|
1 |
|
Ogihara [Thailand] Co. Limited, Bangkok |
|
10780000 |
|
|
|
|
|
Total |
|
22000000 |
AS ON 22.09.2014
|
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] |
49.00 |
|
Bodies
corporate |
50.99 |
|
Directors
or relatives of directors |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Supplying of Steel Stampings and Sub-assembly of
Auto Parts Sheet Metal Parts. |
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Products/ Services : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· Axis Bank Limited 2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi - 110001, Delhi, India · Vijaya Bank ·
Canara Bank |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
Auditors : |
|
|
Name : |
Mehra Goel and Company Chartered Accountants |
|
Address : |
505 Chiranjiv Tower, 43 Nehru Place, New Delhi – 110019,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAACM7589F |
|
|
|
|
Holding company : |
JBM Auto Limited [L74899DL1996PLC083073] |
|
|
|
|
Joint venture : |
Ogihara (Thailand) Co. Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
JBM Auto System Private Limited [U34300TN1998PTC046810] |
|
|
|
|
JBM Group Companies
: |
· ANS Steel Tubes Limited · Arcelor Neel Tailored Blank Private Limited · FJM Cylinders Private Limited · Indo Tooling Private Limited · Jay Bharat Maruti Limited · JBM Cadmium Private Limited · JBM Industries Limited · JBM Kanemitsu Pulleys Private Limited · JBM MA Automotive Private Limited · Neel Auto Private Limited · Neel Industries Private Limited · Neel Metal Products Limited · Tesco Go Spa |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 220.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 220.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
220.000 |
220.000 |
220.000 |
|
(b) Reserves & Surplus |
24.908 |
9.488 |
(5.455) |
|
(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) |
244.908 |
229.488 |
214.545 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
149.000 |
217.023 |
285.318 |
|
(b) Deferred tax liabilities (Net) |
12.443 |
6.013 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
3.249 |
2.343 |
0.499 |
|
Total
Non-current Liabilities (3) |
164.692 |
225.379 |
285.817 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
45.969 |
10.341 |
1.528 |
|
(b)
Trade payables |
69.649 |
154.828 |
125.159 |
|
(c)
Other current liabilities |
137.572 |
133.324 |
76.292 |
|
(d)
Short-term provisions |
1.124 |
1.072 |
2.596 |
|
Total
Current Liabilities (4) |
254.314 |
299.565 |
205.575 |
|
|
|
|
|
|
TOTAL |
663.914 |
754.432 |
705.937 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
492.116 |
497.902 |
512.034 |
|
(ii)
Intangible Assets |
0.502 |
0.089 |
0.549 |
|
(iii)
Capital work-in-progress |
0.000 |
13.555 |
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) |
0.000 |
0.000 |
9.874 |
|
(d) Long-term Loan
and Advances |
44.619 |
7.918 |
6.478 |
|
(e)
Other Non-current assets |
0.000 |
33.190 |
18.913 |
|
Total
Non-Current Assets |
537.237 |
552.654 |
547.848 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
51.238 |
41.195 |
31.655 |
|
(c)
Trade receivables |
66.708 |
145.941 |
105.513 |
|
(d)
Cash and cash equivalents |
1.800 |
2.140 |
1.866 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
6.931 |
12.502 |
19.055 |
|
Total
Current Assets |
126.677 |
201.778 |
158.089 |
|
|
|
|
|
|
TOTAL |
663.914 |
754.432 |
705.937 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
817.622 |
988.561 |
706.917 |
|
|
|
Other Income |
0.418 |
0.224 |
0.894 |
|
|
|
TOTAL (A) |
818.040 |
988.785 |
707.811 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
532.755 |
698.164 |
486.174 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
2.673 |
(1.410) |
(3.568) |
|
|
|
Employees benefits expense |
86.354 |
79.313 |
63.959 |
|
|
|
Other expenses |
98.604 |
102.807 |
82.852 |
|
|
|
TOTAL (B) |
720.386 |
878.874 |
629.417 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
97.654 |
109.911 |
78.394 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
38.386 |
44.690 |
37.797 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
59.268 |
65.221 |
40.597 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
37.418 |
34.391 |
29.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
21.850 |
30.830 |
11.552 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.430 |
15.887 |
(0.424) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
15.420 |
14.943 |
11.976 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.70 |
0.68 |
0.57 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.89 |
1.51 |
1.69 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.94 |
11.12 |
11.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.29 |
4.16 |
1.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.13 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.80 |
0.99 |
1.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.50 |
0.67 |
0.77 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
220.000 |
220.000 |
220.000 |
|
Reserves & Surplus |
(5.455) |
9.488 |
24.908 |
|
Net
worth |
214.545 |
229.488 |
244.908 |
|
|
|
|
|
|
Long-term borrowings |
285.318 |
217.023 |
149.000 |
|
Short term borrowings |
1.528 |
10.341 |
45.969 |
|
Total
borrowings |
286.846 |
227.364 |
194.969 |
|
Debt/Equity ratio |
1.337 |
0.991 |
0.796 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
706.917 |
988.561 |
817.622 |
|
|
|
39.841 |
(17.292) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
706.917 |
988.561 |
817.622 |
|
Profit |
11.976 |
14.943 |
15.420 |
|
|
1.69% |
1.51% |
1.89% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10268578 |
07/03/2011 * |
150,000,000.00 |
AXIS BANK LIMITED |
4/10, OPG HOUSE, ASAF ALI ROAD, NEW DELHI, DELHI - 110002, INDIA |
B07691769 |
|
2 |
10207556 |
04/07/2012 * |
100,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B42909069 |
|
3 |
10207547 |
07/07/2010 * |
190,000,000.00 |
AXIS BANK LIMITED |
STATESMAN HOUSE,
148, BARAKHAMBA ROAD, NEW DELHI, |
A88782362 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
45.969 |
10.341 |
|
|
|
|
|
Total |
45.969 |
10.341 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 610, Hemkunt
Chambers, 89, Nehru Place, New Delhi – 110019, India to the present address
w.e.f.01.06.2013.
OPERATIONS
The gross revenue of the Company for the financial year ended 31st March 2014 was Rs. 925.309 Millions as compared to Rs. 1117.994 Millions in the previous year, a decrease of 17.25% in turnover.
The profit before tax was Rs. 21.849 Lakh as compared to Rs.
30.830 Millions in the previous year. The profit after tax was Rs. 16.433
Millions as compared to Rs. 14.943 Millions in the previous year.
FIXED ASSETS:
· Buildings
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· 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 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. 63.39 |
|
|
1 |
Rs. 96.85 |
|
Euro |
1 |
Rs. 75.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--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.