MIRA INFORM REPORT
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Report No. : |
302678 |
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Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
EXEDY CLUTCH INDIA PRIVATE LIMITED |
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Registered
Office : |
Plot Nos.5-P, 9 to 18, 19 Part and 32 to 38, Narasapura Industrial Area,
Appasandra Village, Kolar Taluk and District – 563 133, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.09.2011 |
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Com. Reg. No.: |
08-060621 |
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Capital Investment
/ Paid-up Capital : |
Rs.2900.000 millions |
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CIN No.: [Company Identification
No.] |
U35990KA2011FTC060621 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRE05935G |
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PAN No.: [Permanent Account No.] |
AACCE8358E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
is engaged in manufacturing and supply of clutch assemblies for two wheeler
and four wheeler vehicles. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 582000 |
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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 a subsidiary of Exedy Corporation, Japan. It is an established company having moderate track record. The rating is constrained on account of accumulated loss incurred by
the company. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
LOCATIONS
|
Registered Office/ Factory : |
Plot Nos.5-P, 9 to 18, 19 Part and 32 to 38, Narasapura Industrial
Area, Appasandra Village, Kolar Taluk and District – 563 133, Karnataka,
India |
|
Tel. No.: |
91-8152-244004 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 08.12.2014
|
Name : |
Shogo Eitarou Okamura |
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Designation : |
Managing Director |
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Address : |
405-5-11-1, Shimomaruko Oota-KU, Tokyo, 1460092, Japan |
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Date of Birth/Age : |
16.09.1956 |
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Date of Appointment : |
01.12.2012 |
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DIN No.: |
03589244 |
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Other Directorship :
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Name : |
Norifumi Ikeda |
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Designation : |
Whole-time Director |
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Address : |
No.408, Hotel Royal Orchid Suites, Vasawani Pinacle, Annex, Whitefield Main Road, Bangalore – 560 066, Karnataka, India |
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Date of Birth/Age : |
30.05.1969 |
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Date of Appointment : |
01.12.2012 |
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DIN No.: |
06374949 |
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PAN No.: |
ACQPI2724R |
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Other Directorship :
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Name : |
Mr. Hidehito Shichiro Hisakawa |
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Designation : |
Director |
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Address : |
15 12, 1 Choume Yamate Higashi, Kyoutanabe City Kyota, 6100357, Japan |
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Date of Birth/Age : |
24.01.1955 |
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Date of Appointment : |
28.09.2011 |
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DIN No.: |
00277789 |
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Other Directorship :
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Name : |
Mr. Akira Hiroshi Hirai |
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Designation : |
Director |
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Address : |
House No.C-685, New Friends Colony, |
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Date of Birth/Age : |
24.12.1957 |
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Date of Appointment : |
10.04.2013 |
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DIN No.: |
03248188 |
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Other Directorship :
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Name : |
Ryu Suzuki |
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Designation : |
Director |
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Address : |
4-20-11, Hiyoshidai, Tomisato-Shi, Chiba Japan |
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Date of Birth/Age : |
28.11.1966 |
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Date of Appointment : |
15.10.2012 |
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DIN No.: |
06433552 |
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Other Directorship :
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Name : |
Mr. Yoshimi Osanai |
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Designation : |
Director |
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Address : |
2-5-6, Hatanaka, Niiza-Shi, Niiza, 3520012, Japan |
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Date of Birth/Age : |
14.05.1956 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
06584425 |
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Other Directorship :
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Name : |
Mr. Tomoaki Goto |
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Designation : |
Director |
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Address : |
5-2-35 Yanohigashi, Aki-Ku Hiroshima-Shi, Hiroshima Shi, 7360083,
Japan |
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Date of Birth/Age : |
15.02.1969 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
06584410 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Peenaz Moshraf |
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Designation : |
Company Secretary |
|
Address : |
No.60/1, 2nd Main Road, 17th Cross, Lakkasandra,
Bangalore – 560 030, Karnataka, India |
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Date of Birth/Age : |
01.01.1988 |
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Date of Appointment : |
27.09.2014 |
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PAN No.: |
AXKPM6512A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 08.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
EXEDY Corporation, Japan |
|
369999999 |
|
EXEDY Trading Corporation, Japan |
|
1 |
|
Total |
|
370000000 |
AS ON 08.12.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
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|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in manufacturing and supply of clutch assemblies for two wheeler
and four wheeler vehicles. |
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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 : |
·
Bajaj Auto ·
Suzuki Motors |
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No. of Employees : |
Not Available |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B.S.R. and Associates Chartered Accountants |
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Address : |
Maruthi Info-Tech Centre, 11-12/1, Inner Ring Road, Koramangala,
Bangalore – 560 071, Karnataka, India |
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Tel. No. : |
91-80-39806000 |
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Fax No. : |
91-80-39806999 |
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PAN
No.: |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
EXEDY Corporation, Japan |
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Associates : |
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CAPITAL STRUCTURE
AS ON 08.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
370000000 |
Equity Shares |
Rs.10/- each |
Rs.3700.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
370000000 |
Equity Shares |
Rs.10/- each |
Rs.3700.000 millions |
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AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
290000000 |
Equity Shares |
Rs.10/- each |
Rs.2900.000 millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
290000000 |
Equity Shares |
Rs.10/- each |
Rs.2900.000 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
2900.000 |
2000.000 |
2.500 |
|
(b) Reserves & Surplus |
(863.489) |
(230.683) |
9.155 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
900.000 |
1997.500 |
|
Total Shareholders’
Funds (1) + (2) |
2036.511 |
2669.317 |
2009.155 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2216.855 |
929.050 |
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 |
1.806 |
0.371 |
0.000 |
|
Total Non-current
Liabilities (3) |
2218.661 |
929.421 |
0.000 |
|
|
|
|
|
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(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
150.938 |
22.321 |
0.000 |
|
(c) Other current liabilities |
692.522 |
93.524 |
7.382 |
|
(d) Short-term provisions |
2.825 |
0.716 |
0.439 |
|
Total Current
Liabilities (4) |
846.285 |
116.561 |
7.821 |
|
|
|
|
|
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TOTAL |
5101.457 |
3715.299 |
2016.976 |
|
|
|
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ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3764.845 |
1659.665 |
1.211 |
|
(ii) Intangible Assets |
1.449 |
1.562 |
0.013 |
|
(iii) Capital work-in-progress |
29.970 |
521.022 |
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 |
3.742 |
|
(d) Long-term Loan and Advances |
78.459 |
57.223 |
560.805 |
|
(e) Other Non-current assets |
19.821 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3894.544 |
2239.472 |
565.771 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
204.302 |
21.113 |
0.000 |
|
(c) Trade receivables |
123.542 |
1.557 |
0.000 |
|
(d) Cash and cash equivalents |
597.107 |
1266.624 |
1444.584 |
|
(e) Short-term loans and advances |
279.126 |
182.015 |
0.005 |
|
(f) Other current assets |
2.836 |
4.518 |
6.616 |
|
Total Current
Assets |
1206.913 |
1475.827 |
1451.205 |
|
|
|
|
|
|
TOTAL |
5101.457 |
3715.299 |
2016.976 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
696.734 |
1.414 |
33.416 |
|
|
|
Other Income |
56.498 |
103.183 |
|
|
|
|
TOTAL |
753.232 |
104.597 |
33.416 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
16.954 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1158.650 |
290.029 |
16.954 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(576.707) |
(185.432) |
16.462 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
56.099 |
50.663 |
0.036 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(632.806) |
(236.095) |
16.426 |
|
|
|
|
|
|
|
|
|
|
TAX |
0.000 |
3.742 |
7.271 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) |
(632.806) |
(239.837) |
9.155 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Free on board value of exports |
6.838 |
1.295 |
NA |
|
|
TOTAL EARNINGS |
6.838 |
1.295 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
197.053 |
10.132 |
NA |
|
|
|
Capital Goods |
605.347 |
754.383 |
NA |
|
|
|
Stores & Spares |
14.220 |
9.331 |
NA |
|
|
TOTAL IMPORTS |
816.620 |
773.846 |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.18) |
(1.18)
|
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(90.82) |
(16961.60) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.48) |
(7.39) |
0.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.31) |
(0.09) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.09 |
0.35 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
12.66 |
185.55 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
2.500 |
2000.000 |
2900.000 |
|
Reserves & Surplus |
9.155 |
(230.683) |
(863.489) |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
1997.500 |
900.000 |
0.000 |
|
Net worth |
2009.155 |
2669.317 |
2036.511 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
929.050 |
2216.855 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
929.050 |
2216.855 |
|
Debt/Equity ratio |
0.000 |
0.348 |
1.089 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
33.416 |
104.597 |
753.232 |
|
|
|
213.015 |
620.128 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
33.416 |
104.597 |
753.232 |
|
Profit |
9.155 |
(239.837) |
(632.806) |
|
|
27.40% |
(229.30%) |
(84.01%) |
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 |
Yes |
|
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
Notes:
· The registered office of the company has been shifted from No.60/1, Ground Floor, Miyajima House, Residency Road, 2nd Cross, Bangalore – 560 025, Karnataka to the present address w.e.f. 22.03.2013.
·
No Charges Exist for
Company.
BACKGROUND
Subject was incorporated on 28th September
2011 as a subsidiary of EXEDY Corporation, Japan. The Company is engaged in
manufacturing and supply of clutch assemblies for two wheeler and four wheeler
vehicles.
BUSINESS OVERVIEW/
OPERATIONS:
The Company has started delivery of MC3 Model clutches for two wheeler
from May 2013 and CVT Clutches for two wheelers from Jul 2013 to Honda
Motorcycle and Scooters India Private Limited. The company also completed the
development and delivery of clutches for K2 Model of Nissan Motor India Private
Limited and delivery started from January 2014. The company also successfully
developed the manufacturing of friction facing sub Assembly and started export
of the same from Jan 2014. Following is the number of Clutches and Parts of
Clutches sold during the year 2013-14:
Sl No Product Details Business Segment Qty Sold (No)
1 Clutch Assembly -MC3 Two Wheeler 356,250
2 Primary Sub Assembly CVT
Two Wheeler 360,433
3 Secondary Pully Assembly
CVT Two Wheeler 353,578
4 Friction Facing Sub Assy
Four Wheeler 22,440
5 Cover Assembly Clutch
-K2 Four Wheeler 6521
6 Disc Assembly Clutch -K2
Four Wheeler 6521
The total sale for the financial year 2013-14 is Rs.696.734 millions as
against Rs.1.414 millions in previous year.
The loss during the year is at Rs. (632.806) millions as against the
profit/loss of Rs. (239.837) millions in the previous year. The Company has
incurred loss during the year due to the expenses incurred on setting up of
production facilities for two wheelers and four wheelers which include cost of
trial production, cost of trial run of machineries and project execution
expenses. The benefits of this expenses are going to accrue over the period of
time when company start production and able to deliver the best quality of
products to customer.
FUTURE OUTLOOK OF
THE COMPANY:
The company is planning to produce more clutch assembly and its parts
for two wheelers and four wheelers and sell in retail market. The company also
increased the production capacity of CVT line from 2200 pcs of production per
day to 4200 Pcs of production per day by deploying additional resources. The
company is also working with current customers- 1. Nissan, 2. Renault and 3.
Honda Motors and Scooters for their new model through which planning to
increase the sales. The company is also negotiating with new customers like-1.
Hero Motor Corporation, 2. Bajaj Auto, and 3. Suzuki Motors for new business.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from others |
2216.855 |
929.050 |
|
Total |
2216.855 |
929.050 |
Notes:
External Commercial Borrowings *The above unsecured loans have been taken
with below terms and conditions:
1. The Company has availed a credit facility from its holding company
EXEDY Corporation, Japan in two disbursements; USD 17,000,000 in October 2012
and USD 20,000,000 in December 2013;
2. The credit facility is available till 30 September 2022;
3. The interest rate on the credit facility is LIBOR + 1% per annum for
both the borrowings; and
4. The first
borrowing (taken in October 2012) is repayable in eleven equal quarterly
installments starting 31 March 2017. The second borrowing (taken in December
2013) is repayable in sixteen equal quarterly installments starting 31 December
2017.
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer
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 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.62.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
-- PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
30 |
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.