MIRA INFORM REPORT

 

 

Report No. :

330887

Report Date :

10.07.2015

 

IDENTIFICATION DETAILS

 

Name :

TRELLEBORG SEALING SOLUTIONS (INDIA) PRIVATE LIMITED (w.e.f. 09.01.2006)

 

 

Formerly Known As :

BUSAK AND SHAMBAN SEALS AND BEARINGS PRIVATE LIMITED

 

 

Registered Office :

No. 22/9, Beretana Agrahara, Hosur Main Road, Bangalore – 560 100, Karnataka

Tel. No.:

91-80-33729400

 

 

Country :

India

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

19.05.1997

 

 

Com. Reg. No.:

08-022248

 

 

Capital Investment / Paid-up Capital :

Rs. 19.999 Million

 

 

CIN No.:

[Company Identification No.]

U29130KA1997PTC022248

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRB01159E

 

 

PAN No.:

[Permanent Account No.]

AABCB2089G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer's of Aerospace and Defence, Earth moving machines, Machine tools, Plastic injection moulding machines, Agricultural machinery, Material handling equipments, Hydraulic cylinders, Steel mills, Cement plants etc. The Company is also providing necessary technical support to the Indian manufacturers and Information Technology and IT enabled services to its related entities.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (68)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 8000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of “TRELLEBORG SEALING SOLUTIONS USA INC. and it is a manufacturer, importer and exporter of sealing solution. Subject is a well – established company having fine track record.

 

For the financial year ended 2014, company possesses healthy operational performance and it has achieved topline growth of 17.62% along with profitability margins at 28.59%.

 

Rating also takes into account of strong financial risk profile marked by strong net worth base along with zero debt balance sheet and adequate liquidity position of the company.

 

Moreover, it is also to be noted that company receives strong financial and managerial support from its holding company.

 

Trade relations are reported as fair. Payments are reported to be regular and as per commitment.

 

In view of aforesaid, the company can be considered good for normal 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Muttu

Designation :

Finance Director

Contact No.:

91-80-33729157/33729400

Date :

07.07.2015

 

 

LOCATIONS

 

Registered Office / Factory 1:

No. 22/9, Beretana Agrahara, Hosur Main Road, Bangalore – 560 100, Karnataka, India

Tel. No.:

91-80-33729400

Fax No.:

91-80-33729001

E-Mail :

tssindia@trelleborg.com

muthu.sethuraman@trelleborg.com

Website :

http://www.tss.trelleborg.com

Location :

Owned

 

 

Factory 2 :

19/1, Kalena Agrahara, Bannerghatta Main Road, Bangalore – 560076, Karnataka, India

Tel. No.:

91-80-25189700

Fax No.:

91-80-26431109

 

 

DIRECTORS

 

As on 25.05.2015

 

Name :

Mr. Rajan Sen

Designation :

Managing director

Address :

B 501, Mantri Elegance Apartments, Bannerghatta Road, Near Shoppers Stop, Bangalore – 560076, Karnataka, India

Date of Birth/Age :

25.07.1962

Date of Appointment :

16.05.2014

DIN No.:

06872411

 

Name :

Mr. Lee  Weng Chong 

Designation :

Director

Address :

No.57, Greenfield Drive, Singapore – 457951

Date of Birth/Age :

16.06.1957

Date of Appointment :

11.03.2005

DIN No.:

01314402

 

Name :

Mr. Lee Siew Foong

Designation :

Director

Address :

590, Yio Chu Kang Road, # 08-04, Singapore – 2678

Date of Birth/Age :

13.03.1955

Date of Appointment :

19.11.2007

DIN No.:

01940162

 

 

Name :

Mr. Kristian Brok

Designation :

Director

Address :

S/o Mr. Karl Brok, Willemoesgade 45, Copenhagen - 2100

Date of Birth/Age :

21.01.1965

Date of Appointment :

29.04.2011

DIN No.:

03547902

 

 

KEY EXECUTIVES

 

Name :

Mr. Muttu

Designation :

Finance Director

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 25.05.2015

 

Name of Shareholders

No. of Shares

%age

http://www.bseindia.com/include/images/clear.gif Trelleborg Holding AB, Sweden

4000

20.00

http://www.bseindia.com/include/images/clear.gif Trelleborg Sealing Solutions Inc, USA

15999

80.00

Total

19,999

100.00

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 25.05.2015

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer's of Aerospace and Defence, Earth moving machines, Machine tools, Plastic injection moulding machines, Agricultural machinery, Material handling equipments, Hydraulic cylinders, Steel mills, Cement plants etc. The Company is also providing necessary technical support to the Indian manufacturers and Information Technology and IT enabled services to its related entities.

 

 

Products :

 

Product Description 

ITC Code

Tubes of Bronze Filling

7419.99

Rubber Seals

4016.99

 

  • O-rings
  • Glyde Rings,
  • Slyde Rings
  • Parts for Hydraulic Cylinders

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Bank Name

Not Divulged

Branch

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Lovelock and Lewes

Chartered Accountants

Address :

Bangalore, Karnataka, India

PAN N Income-tax PAN of auditor or auditor's firm :

AABFL5878L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding company :

Trelleborg Sealing Solutions USA, Inc

Trelleborg Holding AB, Sweden

 

 

Ultimate Holding

Company :

Trelleborg AB Sweden

 

 

Fellow Subsidiary

Company :

Trelleborg Sealing Solutions Germany GmbH

TSS Logistic Centre Americas

Trelleborg Sealing Solutions Helsingor A/S

Trelleborg Sealing Solutions Hongkong Limited

Trelleborg Sealing Solutions Singapore PTE Limited

Trelleborg Sealing Solutions Skelleftea AB

Trelleborg Sealing Solutions Japan K.K

Trelleborg Sealing Solutions Malta Limited

Trelleborg Sealing Solutions China Company Limited

Trelleborg Sealing Solutions Fortwayne

Trelleborg Sealing Solutions Czechowice

Trelleborg do Brasil Soluceos em Vedacao Limited

Trelleborg Sealing Solutions Bridgwater, UK

Trelleborg Sealing Solutions USA, Broomfield

Trelleborg Sealing Solutions Italia SPA

Trelleborg Sealing Solutions USA, Colmar

Trelleborg Sealing Solutions Taiwan Company Limited

Trelleborg Sealing Solutions UK, Tewkesbury

Trelleborg Information Systems Services AB

Trelleborg Automotive Kalmar AB

Trelleborg Automotive India Private Limited

Trelleborg Industrial Products India Private Limited

Trelleborg Sealing Solutions Steamwood, USA

Trelleborg Sealing Solutions Conde SA, France

Trelleborg Sealing Solutions Rotherham

Trelleborg Sealing Solutions Torino SRL

Trelleborg Sealing Solutions Polska Sp Z.O.O

Trelleborg Sealing Solutions Orkot Composites USA

Trelleborg Sealing Solutions Korea

 

 

CAPITAL STRUCTURE

 

As on 25.05.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20000

Equity Shares

Rs.1000/- each

Rs. 20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

19999

Equity Shares

Rs.1000/- each

Rs. 19.999 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.12.2014

31.12.2013

31.12.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

19.999

19.999

19.999

(b) Reserves & Surplus

2790.569

2268.825

1789.208

(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)

2810.568

2288.824

1809.207

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

7.373

4.322

2.764

(d) long-term provisions

10.052

5.861

6.612

Total Non-current Liabilities (3)

17.425

10.183

9.376

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

83.613

56.770

76.119

(c) Other current liabilities

55.243

38.890

26.055

(d) Short-term provisions

6.188

4.031

8.685

Total Current Liabilities (4)

145.044

99.691

110.859

 

 

 

 

TOTAL

2973.037

2398.698

1929.442

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

385.973

396.639

342.918

(ii) Intangible Assets

3.496

2.915

2.341

(iii) Capital work-in-progress

17.142

1.853

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)

22.523

6.660

3.446

(d)  Long-term Loan and Advances

46.762

30.606

138.139

(e) Other Non-current assets

0.000

0.749

214.183

Total Non-Current Assets

475.896

439.422

701.027

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

138.667

124.234

104.146

(c) Trade receivables

311.853

290.446

239.286

(d) Cash and cash equivalents

1943.473

1318.330

609.604

(e) Short-term loans and advances

102.468

179.695

191.174

(f) Other current assets

0.680

46.571

84.205

Total Current Assets

2497.141

1959.276

1228.415

 

 

 

 

TOTAL

2973.037

2398.698

1929.442

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.12.2014

31.12.2013

31.12.2012

 

SALES

 

 

 

 

Income

1429.610

1286.080

 

Other Income

 

 119.530

NA

 

TOTAL (A)

1822.046

1549.140

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL (B)

1026.894

(Including Financial Expenses and Deprecation)

836.860

(Including Financial Expenses and Deprecation)

NA

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

 

 

675.120

 

 

 

 

 

 Less

Exceptional Item

 

 

11.300

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

 

 

0.100

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

 

 

663.720

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

 

 

35.140

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

795.152

712.280

628.580

 

 

 

 

 

Less

TAX (H)

273.409

232.663

202.920

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

521.743

479.617

425.660

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

772.476

700.130

468.567

 

 

 

 

 

 

CIF VALUE OF IMPORTS

368.335

372.412

428.154

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 26088.45

 23982.04

26605.41

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.12.2014

31.12.2013

31.12.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

940.216

724.482

527.028

 

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.12.2014

31.12.2013

31.12.2012

Net Profit Margin

(PAT / Sales)

(%)

28.64

30.96

33.10

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

NA

NA

52.49

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

27.11

29.80

32.64

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.28

0.31

0.35

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

17.22

19.65

11.08

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

 

DEBT EQUITY RATIO

 

Particular

31.12.2012

31.12.2013

31.12.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

19.999

19.999

19.999

Reserves & Surplus

1789.208

2268.825

2790.569

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

1809.207

2288.824

2810.568

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.12.2013

31.12.2014

 

(Rs. In Million)

(Rs. In Million)

Total Income

1549.140

1822.046

 

17.617

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.12.2013

31.12.2014

 

(Rs. In Million)

(Rs. In Million)

Total Income

1549.140

1822.046

Profit

479.617

521.743

 

30.96%

28.64%

 

 

 

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

Yes

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

No

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

 

  • NOTE: The registered office of the company has been shifted from No. 27, 32nd Cross, 7th Block, Jayanagar, Bangalore – 560 070, Karnataka, India to the present registered address w.e.f 27.04.2012

 

 

GENERAL INFORMATION:

 

Subject was started operations in 1994 and joined Trelleborg Group in 2005 and become a wholly owned subsidiary during 2008.Trelleborg Sealing Solutions products are used with manufacturer's of Aerospace and Defence, Earth moving machines, Machine tools, Plastic injection moulding machines, Agricultural machinery, Material handling equipments, Hydraulic cylinders, Steel mills, Cement plants etc. The Company is also providing necessary technical support to the Indian manufacturers and Information Technology and IT enabled services to its related entities.

 

 

NATURE OF BUSINESS AND CHANGES

 

The Company's main business is in the sealing products which is majorly on Glyde Rings, 0 Rings, Slyde Rings,V rings, Step seals parts for Hydraulic cylinders etc., and operates on the Export and Domestic markets.

 

The Company also operates in the areas of IT and ITES services. During the year, Export sales remained more or less flat, whereas the Domestic market witnessed 25.50 % increase in sales, due to good offtake by the customers of perceived better economic outlook and increased penetration by the company. Of late the IT and ITES services has started to yield revenue streams which has reached slightly above 10% of the turnover due to higher headcounts and seems to stabiline at this; JAvA or slightly higher level inthe future. Increase in interest income is due to higher cash availability with the Company being deployed on short term Maturity period Deposits with Banks continuously.

 

In outlook for the next year is perceived to be modest rate of growth dependant however on the pace of economic reforms by the Government, IT and IT Enabled Services would increase at good level but not at the level witnessed in 2014, as the same is starting to stabilise, Exports would witness a fair increase due to elastomer division expecting an higher sales output.

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

 

FIXED ASSETS

 

  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipments

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.51

UK Pound

1

Rs.97.85

Euro

1

Rs.70.50

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ART

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

 

--PROFITABILITY

1~10

8

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--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

 

68

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.