MIRA INFORM REPORT
|
Report No. : |
331174 |
|
Report Date : |
08.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
YANFENG VISTEON INDIA AUTOMOTIVE TRIM SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No 122/4/5/6 and 127, Kalol GIDC,
Kalol-389330, Gujarat, India |
|
Tel. No.: |
91-2676235993 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.11.2011 |
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|
|
|
Com. Reg. No.: |
04-067703 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 200.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300GJ2011PTC067703 |
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|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDY00288B |
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|
|
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PAN No.: [Permanent Account No.] |
AAACY5078P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer
and Seller of Automotive Trim Components. |
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|
|
|
No. of Employees
: |
Information declined by 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 2900000 |
|
|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a 50:50 joint venture company between VIHI LLC, USA and Yanfeng
Automotive Trim Systems Company Limited, China. Subject is a private limited company incorporated in the year 2011
having moderate track record. Company is continuously running in losses since its incorporation. It
has recorded some accumulated losses. However, Trade relations are fair. Business is active. Payment terms
slow but correct. The company can be considered for business dealings with some caution. |
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
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
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON- COOPERATIVE
Contact No: 91-2676-235993
LOCATIONS
|
Registered Office : |
Plot No 122/4/5/6 and 127, Kalol GIDC, Kalol-389330, Gujarat, India |
|
Tel. No.: |
91-2676235993 |
|
Fax No.: |
91-2676235183 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Daniel Alan Linder |
|
Designation : |
Nominee director |
|
Address : |
1-30 Forest Manor, No.588 Jin Feng Road,
Hua Cao Town Shanghai-201107, China |
|
Date of Appointment : |
30.12.2014 |
|
DIN No.: |
02023442 |
|
|
|
|
Name : |
Mr. Xinhua Yuan |
|
Designation : |
Director |
|
Address : |
No. 366, Kang Qiao Cun, Kang Qiao Town, Nanhui District, Shanghai, 201035, China |
|
Date of Birth/Age : |
14.02.1965 |
|
Date of Appointment : |
02.11.2011 |
|
DIN No.: |
03622784 |
|
|
|
|
Name : |
Mr. Sandeep Manohar Kulkarni |
|
Designation : |
Nominee director |
|
Address : |
Flat No 4, Shree Ganesh Apartment,, Sr No. 148/2B, Shivalay Society, Sus Road, Pashan, Pune-411021, Maharashtra, India |
|
Date of Birth/Age : |
03.05.1970 |
|
Date of Appointment : |
30.12.2014 |
|
DIN No.: |
07047342 |
|
|
|
|
Name : |
Mr. HU Xiufeng |
|
Designation : |
Nominee Director |
|
Address : |
145, Kangjian Road,, Xuhui District,
Shanghai, 200235, CHINA |
|
Date of Birth/Age : |
02.02.1972 |
|
Date of Appointment : |
17/03/2014 |
|
DIN No.: |
06964855 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Kulkarni |
|
Designation : |
Chief Executive Officer |
|
Address : |
Flat No 4, Shree Ganesh Apartment,, Sr No. 148/2B, Shivalay Society, Sus Road, Pashan, Pune, 411021, Maharashtra, India |
|
Date of Birth/Age : |
03.05.1970 |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
ADIPK5621L |
|
|
|
|
Name : |
Mr. Sanjoly Jalan |
|
Designation : |
Secretary |
|
Address : |
17, Swarajnagar Society, Opposite Manekbaug, Ahmedabad, 380015, Gujarat, India |
|
Date of Birth/Age : |
01.02.1978 |
|
Date of Appointment : |
24.09.2012 |
|
PAN No.: |
AFCPJ3940B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Yanfeng Visteon India Automotive Trim Systems Company Limited, China |
13320000 |
93.02 |
|
VIHI LLC, Hungary |
1000000 |
6.98 |
|
Total |
14320000 |
100.00 |
AS ON 26.09.2014
|
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] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Seller of Automotive Trim Components. |
|
|
|
|
Products : |
Automotive
Trim Components |
|
|
|
|
Brand Names : |
--- |
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Agencies Held : |
--- |
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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 declined by Management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price
Waterhouse and Company Chartered Accountants |
|
Address : |
DLF
Cyber City, Building No- 8, Tower-B7Th and
8Th Floor |
|
Income-tax PAN
of auditor or auditor's firm : |
AAAFP8828M |
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Memberships : |
-- |
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Collaborators : |
-- |
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Fellow Subsidiary
Company: |
Visteon
Automotive Systems India Private Limited, India (CIN
U35911TN1997PTC037782) |
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|
|
|
Joint Venture |
Yanfeng Visteon Automotive Trim Systems
company Limited, China |
CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19500000 |
Equity Shares |
Rs. 100/- each |
Rs. 1950.000 Million |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14320000 |
Equity Shares |
Rs. 100/- each |
Rs. 1432.000
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19500000 |
Equity Shares |
Rs. 100/- each |
Rs. 1950.000 Million |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs. 100/- each |
Rs. 200.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
200.000 |
200.000 |
200.000 |
|
(b) Reserves & Surplus |
(106.443) |
(59.361) |
(10.506) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
931.818 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1025.375 |
140.639 |
189.494 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
40.625 |
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 |
0.722 |
0.208 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.722 |
40.833 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
17.130 |
22.323 |
2.025 |
|
(c)
Other current liabilities |
299.717 |
23.926 |
18.393 |
|
(d)
Short-term provisions |
0.031 |
0.150 |
0.027 |
|
Total
Current Liabilities (4) |
316.878 |
46.399 |
20.445 |
|
|
|
|
|
|
TOTAL |
1342.975 |
227.871 |
209.939 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
252.204 |
161.482 |
0.659 |
|
(ii)
Intangible Assets |
4.575 |
5.520 |
0.036 |
|
(iii)
Capital work-in-progress |
34.582 |
0.000 |
89.325 |
|
(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 |
4.231 |
2.638 |
22.769 |
|
(e)
Other Non-current assets |
1.805 |
2.889 |
2.973 |
|
Total
Non-Current Assets |
297.397 |
172.529 |
115.762 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1.968 |
6.699 |
19.014 |
|
(c)
Trade receivables |
35.945 |
14.006 |
0.000 |
|
(d)
Cash and cash equivalents |
750.867 |
6.906 |
50.754 |
|
(e)
Short-term loans and advances |
246.779 |
26.435 |
23.322 |
|
(f)
Other current assets |
10.019 |
1.296 |
1.087 |
|
Total
Current Assets |
1045.578 |
55.342 |
94.177 |
|
|
|
|
|
|
TOTAL |
1342.975 |
227.871 |
209.939 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
155.941 |
65.891 |
0.000 |
|
|
|
Other Income |
11.241 |
2.718 |
1.182 |
|
|
|
TOTAL (A) |
167.182 |
68.609 |
1.182 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
181.343 |
98.880 |
10.908 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(14.161) |
(30.271) |
(9.726) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.722 |
5.809 |
0.268 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(27.883) |
(36.080) |
(9.994) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.187 |
12.775 |
0.133 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(47.070) |
(48.855) |
(10.127) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(47.070) |
(48.855) |
(10.506) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(59.361) |
(10.506) |
(10.506) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(106.431) |
(59.361) |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.24 |
0.24 |
0.05 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
9.375 |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(30.18) |
(74.15) |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(9.08) |
(45.94) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.60) |
(21.44) |
(8.40) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
(0.35) |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.36 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.30 |
1.19 |
4.61 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT
EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
200.000 |
200.000 |
200.000 |
|
Reserves & Surplus |
(10.506) |
(59.361) |
(106.443) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
931.818 |
|
Net
worth |
1121.312 |
140.639 |
1025.375 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
40.625 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
40.625 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.289 |
0.000 |
YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
0.000 |
65.891 |
155.941 |
|
|
|
|
136.665 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
0.000 |
65.891 |
155.941 |
|
Profit |
(10.506) |
(48.855) |
(47.070) |
|
|
|
(74.15)% |
(30.18)% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10374144 |
11/07/2012 |
100,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL
WEST |
B57111155 |
GENERAL INFORMATION
The Company is a 50:50
joint venture company between VIHI LLC, USA and Yanfeng Automotive Trim Systems
Company Limited, China (vide agreement dated August 11, 2011) formed to
manufacture and sell automotive trim components. The Company was incorporated
on November 2, 2011.
OPERATIONAL REVIEW
During the year ended on
31st March, 2014 company have the revenue from operations Rs. 155.941 Million
(Previous year- Rs. 65.890 Million). Due to lower volume of General motors for
CN100 vehicle, company incurred a loss after tax of Rs. 47.070 Million
(Previous Year- Rs. 48.855 Million) for the year ended 31st March, 2014.
As the company has got
awarded the business from Ford for B562 India and Europe program with higher
volume expectation, company is setting up the plant at Sanand, Gujarat near to
Ford. Automotive market in Gujarat is growing very aggressively and many OEMs
(Ford, Maruti Suzuki) are setting up their new plants in Gujarat. Company
foresees a good demand in its products and Directors are hopeful of doing
better performance in years to come.
FIXED ASSETS:
Tangible Assets
· Land
· Building
· Plant and Equipment
· Furniture and fixture
· Vehicles
· Office Equipments
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. 63.37 |
|
|
1 |
Rs. 98.86 |
|
Euro |
1 |
Rs.69.97 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
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 |
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.