MIRA INFORM REPORT
|
Report No. : |
301507 |
|
Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DELPHI CONNECTION SYSTEMS INDIA LIMITED (w.e.f. 21.12.2012) |
|
|
|
|
Formerly Known
As : |
FCI TECHNOLOGY SERVICES LIMITED (w.e.f. 11.06.2002) FC INFORMATION AND TECHNOLOGY SERVICES PRIVATE LIMITED |
|
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|
Registered
Office : |
XII/101, Thiruvaniyoor Vettickal Road Thiruvaniyoor Post Puthencruz
Via – 682308, Kerala |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.11.2000 |
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Com. Reg. No.: |
09-015286 |
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|
Capital
Investment / Paid-up Capital : |
Rs.51.873
Millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U32109KL2000PLC015286 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACF5044Q |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject
is engaged in the business of Manufacture and Sale of Automotive Connectors,
Moulds and Tools for Automotive Connectors, and Design and Engineering
Services. |
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|
|
|
No. of Employees
: |
Information decline by the management |
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 360000 |
|
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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 is an established company having moderate track record. External borrowings of the company seems to be huge during 2014. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing with some cautions.
|
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
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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Ms. Asha |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-484-6611196 |
|
Date : |
02.01.2015 |
LOCATIONS
|
Registered Office : |
XII/101, Thiruvaniyoor Vettickal Road Thiruvaniyoor Post Puthencruz
Via – 682308, Kerala, India |
|
Tel. No.: |
91-484-4090700 |
|
Fax No.: |
91-484-2301973 |
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E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rajiv Navaloor |
|
Designation : |
Managing Director |
|
Address : |
8/529-4B, Noel Signature Apartments, Edachira Road, Kusumagiri P.O.,
Kakkanad Ernakulam – 682030, Kerala, India
|
|
Date of Birth/Age : |
21.05.1974 |
|
Date of Appointment : |
12.12.2012 |
|
Din No.: |
06395054 |
|
|
|
|
Name : |
Simon Yang Xiaoming |
|
Designation : |
Director |
|
Address : |
204 Paulo Dr Ne, Warren Ohio, 44483 |
|
Date of Birth/Age : |
19.10.1963 |
|
Date of Appointment : |
12.12.2012 |
|
Din No.: |
06405039 |
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|
|
|
Name : |
Mr. Bruce Clinton Shuler |
|
Designation : |
Managing Director |
|
Address : |
#12 B, Ivory Heights, Parambithara Cross 1, Panampilly Nagar,
Ernakulam-682036, Kerala, India |
|
Date of Birth/Age : |
10.05.1958 |
|
Date of Appointment : |
01.01.2014 |
|
Din No. : |
06768596 |
KEY EXECUTIVES
|
Name : |
Madam Manjusha Menon |
|
Designation : |
Company Secretory |
|
Address : |
Nammelil House, South Chittoor, Cochin, Ernakulam-682027, Kerala,
India |
|
Date of Birth/Age : |
02.10.1986 |
|
Date of Appointment : |
03.10.2013 |
|
PAN No. : |
BJGPM4954K |
|
|
|
|
Name : |
Ms. Asha |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Delphi Connection Systems Holdings France SAS, France |
5187156 |
|
Navaloor Rajiv |
10 |
|
Narayanan Prameela |
52 |
|
P R Kumar Manoj |
10 |
|
Menon N Harish |
10 |
|
K R Nagashayana |
10 |
|
Nair P Ramesh |
10 |
|
TOTAL
|
5187258 |
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 the business of Manufacture and Sale of Automotive Connectors,
Moulds and Tools for Automotive Connectors, and Design and Engineering
Services. |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information decline by the management |
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Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India · Federal Bank Limited, Ernakulam North Branch, Ernakulam – 682018, Kerala, India · Centurion Bank of Punjab Limited, Choice Tower, Manorama Junction, Cochin – 682016, Kerala, India |
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Facilities : |
SECURED
LOAN (Rs.
In Millions)
|
|
Banking Relations
: |
--- |
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|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and
Associates LLP Chartered Accountants |
|
Address : |
9Th Floor, Abad,
NucleusNh-49, Maradu P O |
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PAN No: |
ACHFS9118A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Delphi
Connection Systems Holding France SAS, France |
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Other Related Parties : |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
Rs.10/- each |
Rs.225.000 Millions |
|
17500000 |
Preference Shares |
Rs.10/- each |
Rs.175.000 Millions |
|
|
TOTAL
|
|
Rs.400.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each
|
Rs.150.000
Millions |
|
17500000 |
Preferences Shares |
Rs.10/- each
|
Rs.175.000
Millions |
|
|
TOTAL |
|
Rs.325.000 Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5187258 |
Equity Shares |
Rs.10/- each
|
Rs.51.873
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 [12 Months] |
31.03.2013 [15 Months] |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
51.873 |
51.873 |
51.873 |
|
(b) Reserves & Surplus |
72.154 |
(19.243) |
48.406 |
|
(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) |
124.027 |
32.630 |
100.279 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
881.319 |
881.319 |
837.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
1.515 |
0.000 |
0.000 |
|
(d)
Long-term provisions |
23.399 |
4.738 |
0.855 |
|
Total
Non-current Liabilities (3) |
906.233 |
886.057 |
837.855 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
147.937 |
32.856 |
|
(b)
Trade payables |
407.231 |
278.067 |
290.277 |
|
(c)
Other current liabilities |
189.396 |
98.609 |
222.884 |
|
(d)
Short-term provisions |
46.833 |
12.500 |
20.838 |
|
Total
Current Liabilities (4) |
643.460 |
537.113 |
566.855 |
|
|
|
|
|
|
TOTAL |
1673.720 |
1455.800 |
1504.989 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
436.569 |
402.913 |
475.854 |
|
(ii)
Intangible Assets |
90.712 |
102.943 |
118.231 |
|
(iii)
Capital work-in-progress |
34.878 |
10.911 |
9.693 |
|
(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) |
30.267 |
0.000 |
2.162 |
|
(d) Long-term Loan
and Advances |
43.283 |
239.347 |
173.477 |
|
(e)
Other Non-current assets |
3.602 |
1.188 |
1.187 |
|
Total
Non-Current Assets |
639.311 |
757.302 |
780.604 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
46.653 |
|
(b)
Inventories |
243.776 |
218.589 |
140.135 |
|
(c)
Trade receivables |
451.292 |
383.546 |
368.818 |
|
(d)
Cash and cash equivalents |
114.214 |
18.858 |
42.151 |
|
(e)
Short-term loans and advances |
225.121 |
77.490 |
89.636 |
|
(f)
Other current assets |
0.006 |
0.015 |
36.992 |
|
Total
Current Assets |
1034.409 |
698.498 |
724.385 |
|
|
|
|
|
|
TOTAL |
1673.720 |
1455.800 |
1504.989 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 [12 Months] |
31.03.2013 [15 Months] |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2151.350 |
1973.492 |
416.663 |
|
|
|
Other Income |
15.075 |
12.739 |
2.518 |
|
|
|
TOTAL (A) |
2166.425 |
1986.231 |
419.181 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of materials consumed |
884.394 |
964.903 |
156.285 |
|
|
|
Purchases
of stock-in-trade |
226.140 |
172.450 |
16.902 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and stock-in-trade |
(33.036) |
(60.177) |
(12.219) |
|
|
|
Employee
benefit expense |
320.264 |
298.684 |
100.551 |
|
|
|
Other
expenses |
419.298 |
416.795 |
109.414 |
|
|
|
Prior
period items |
0.000 |
2.157 |
0.000 |
|
|
|
TOTAL (B) |
1817.060 |
1794.812 |
370.933 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
349.365 |
191.419 |
48.248 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
127.839 |
110.930 |
13.559 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
221.526 |
80.489 |
34.689 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
119.286 |
145.976 |
23.982 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
102.240 |
(65.487) |
10.707 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.843 |
2.163 |
4.263 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
91.397 |
(67.650) |
6.444 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
-
Basic |
17.62 |
(13.04) |
0.15 |
|
|
|
-
Diluted |
17.62 |
(13.04) |
1.24 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 [12 Months] |
31.03.2013 [15 Months] |
31.12.2011 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/Sales) |
(%) |
4.25 |
(3.43) |
1.55 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
16.24 |
9.69 |
11.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.36 |
(4.53) |
0.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.82 |
(2.01) |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
7.11 |
31.54 |
8.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61 |
1.30 |
1.28 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
51.873 |
51.873 |
51.873 |
|
Reserves & Surplus |
48.406 |
(19.243) |
72.154 |
|
Net
worth |
100.279 |
32.630 |
124.027 |
|
|
|
|
|
|
long-term borrowings |
837.000 |
881.319 |
881.319 |
|
Short term borrowings |
32.856 |
147.937 |
0.000 |
|
Total
borrowings |
869.856 |
1029.256 |
881.319 |
|
Debt/Equity
ratio |
8.674 |
31.543 |
7.106 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
416.663 |
1973.492 |
2151.350 |
|
|
|
373.642 |
9.012 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
416.663 |
1973.492 |
2151.350 |
|
Profit |
6.444 |
(67.651) |
91.397 |
|
|
1.55% |
(3.43%) |
4.25% |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As on 31.12.2014 [12 Months] |
As on 31.03.2013 [15 Months] |
|
Long Term
Borrowings |
|
|
|
Term loans from others |
881.319 |
881.319 |
|
TOTAL
|
881.319 |
881.319 |
NOTE:
The Registered office of the company has been shifted
from XXIX/2089Tripunithura Road, Thykoodam, Ernakulam – 682019, Kerala, India
to the present address w.e.f. 12.12.2012.
CORPORATE INFORMATION:
Delphi Connection Systems
India Limited, formerly known as FCI Technology Services Limited (“the Company”),
was incorporated on November 7, 2000. The Company is engaged in the business of
manufacture and sale of automotive connectors; moulds and tools for automotive
connectors; and design and engineering services. The Company is a subsidiary of
Delphi Connection Systems Holding France, S.A.S, which in turn is a subsidiary
of Delphi Automotive Plc, U.S.A, the ultimate holding company. The Company's
manufacturing facilities are located at Kochi, Kerala and the design and
engineering service center is located at Chennai, Tamil Nadu.
FINANCIAL RESULT:
During the period the company recorded revenue of Rs.2.170 billion as against Rs.1.990 billion in the previous period. The total expenditure incurred was Rs.2.060 billion which resulted in a Profit before tax of Rs.102.240 million as against a loss of Rs.63.330 millions in the previous period ended 31.03.2013. After provision for taxes the profits for the period stood at Rs.91.400 millions as against a loss of Rs.67.6500 millions in the previous period.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10379960 |
27/08/2012 |
200,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT
MARG, LOWER PAREL |
B59470328 |
* Date of charge modification
FIXED ASSETS:
· Goodwill
· Leasehold Improvement
· Building
· Plant, Machinery and Equipment – Owned
· Plant, Machinery and Equipment – Leased
· Office Equipment
· Data processing Equipment
· Furniture and Fixtures
- Vehicles
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. 63.44 |
|
|
1 |
Rs. 95.98 |
|
Euro |
1 |
Rs. 75.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
DPA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--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.