MIRA
INFORM REPORT
|
Report No. : |
334565 |
|
Report Date : |
31.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
FUKOKU INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.G-4/1, Chakan Industrial Area, Phase-III, Chakan, Taluka Khed,
Pune – 410 501, |
|
Tel. No.: |
91-20-30429259 |
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|
|
Country : |
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|
|
|
Financials (as
on) : |
31.12.2013 |
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|
|
|
Date of
Incorporation : |
14.10.2010 |
|
|
|
|
Com. Reg. No.: |
11-137535 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.355.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25190PN2010FTC137535 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEF01366B |
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|
|
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PAN No.: [Permanent Account No.] |
AABCF6113D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacture of pulleys and
rubber products for supply to automotive companies and sale of services in the
nature of commission income. |
|
|
|
|
No. of Employees
: |
Not Available |
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 656000 |
|
|
|
|
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 subsidiary of “Fukoku Company Limited”. It is an
established company having moderate track record. Management has
failed to file its financial record with the Government Department for the
year 2014. As per available financial record of 2013, the company possesses
moderate operational performance and it has incurred huge losses from its
operational activities. Rating further constrained on account of company’s moderate financial
risk profile marked by negative reserves and leverage balance sheet profile
of the company. However, trade relations are reported as fair. Payments are reported
to be slow but correct. In view of operational losses, 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 – 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.
LOCATIONS
|
Registered Office : |
Plot No.G-4/1, Chakan Industrial Area, Phase-III, Chakan, Taluka Khed,
Pune – 410 501, Maharashtra, India |
|
Tel. No.: |
91-20-30429259 91-2135-678640 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 03.06.2014
|
Name : |
Kenji Chousei Watanabe |
||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||
|
Address : |
2-6-3, Komagata, Gyouda-Shi, Saitama, 3610055, Japan |
||||||||||||||||||
|
Date of Birth/Age : |
11.11.1957 |
||||||||||||||||||
|
Date of Appointment : |
14.11.2013 |
||||||||||||||||||
|
DIN No. : |
06702030 |
||||||||||||||||||
|
PAN No.: |
ADBPW7681H |
||||||||||||||||||
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|
||||||||||||||||||
|
Name : |
Mr. Prashant Balasaheb Joshi |
||||||||||||||||||
|
Designation : |
Managing Director |
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|
Address : |
Flat No.8, Building-F, S. No.138, Shriramnagar, Aundh, Pune – 411 007, Maharashtra, India |
||||||||||||||||||
|
Date of Birth/Age : |
19.11.1959 |
||||||||||||||||||
|
Date of Appointment : |
12.12.2011 |
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|
DIN No. : |
03119518 |
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PAN No.: |
AAVPJ0934F |
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Other Directorship :
|
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||||||||||||||||||
|
Name : |
Shoji Toshiro Machida |
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|
Designation : |
Director |
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|
Address : |
90, Oazagoudo, Hanyu Shi, Saitama Ken, 3480000, Japan |
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|
Date of Birth/Age : |
05.11.1953 |
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|
Date of Appointment : |
14.10.2010 |
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|
DIN No. : |
03169233 |
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|
||||||||||||||||||
|
Name : |
Atsushi Hiroshi Suzuki |
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|
Designation : |
Director |
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|
Address : |
Hills Chuo B-201, 3-33-1, Chuo Kitamoto-Shi, Saitama, Japan, 3640031 |
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|
Date of Birth/Age : |
31.05.1973 |
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|
Date of Appointment : |
12.12.2011 |
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|
DIN No. : |
03617668 |
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|
PAN No.: |
DQTPS5383A |
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|
||||||||||||||||||
|
Name : |
Tokushi Takanori Tsujimoto |
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|
Designation : |
Director |
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|
Address : |
Kano 17-3, Okegawa, Saitama, 3630001, Japan |
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|
Date of Birth/Age : |
11.07.1967 |
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|
Date of Appointment : |
01.02.2013 |
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|
DIN No. : |
06485535 |
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KEY EXECUTIVES
|
Name : |
Mr.
Vivek Dnyaneshwar Patil |
|
Designation : |
Secretary |
|
Address : |
131/2A,
Rajyog Society, Near Ganesh Mandir, Warje, Pune – 411 058, Maharashtra, India |
|
Date of Appointment : |
02.12.2014 |
|
PAN No.: |
CNLPP9802M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 03.06.2014
|
Names of Shareholders |
No. of Shares |
|
Fukoku Company Limited, Japan |
3549999 |
|
Saim Fukoku Company Limited, Thailand |
1 |
|
Total |
3550000 |
AS ON 03.06.2014
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacture of pulleys and
rubber products for supply to automotive companies and sale of services in
the nature of commission income. |
|
|
|
|
Products/ Services : |
Brakes and servo brakes; parts thereof and all
other professional, technical and business services n.e.c. |
|
|
|
|
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 : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of India ·
The Bank of Tokyo-Mitsubishi UFJ Limited |
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Auditors : |
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|
Name : |
S.V. Ghatalia and Associates LLP Chartered Accountants |
|
Address : |
C-401, 4th Floor, Panchshil Tech Park, Yerwada, Near Don
Bosco School, Pune – 411 006, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9181P |
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Holding Company (As on 31.12.2013) : |
Fukoku Company Limited, Japan |
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|
Fellow Subsidiaries (As on 31.12.2013) : |
·
Siam Fukoku Company Limited, Thailand ·
PT Fukoku Tokai Rubber, Indonesia ·
Fukoku America Inc. ·
Fukoku AP Company Limited., Thailand |
CAPITAL STRUCTURE
AS ON 03.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3550000 |
Equity Shares |
Rs.100/- each |
Rs.355.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3550000 |
Equity Shares |
Rs.100/- each |
Rs.355.000 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
355.000 |
355.000 |
355.000 |
|
(b) Reserves &
Surplus |
(125.564) |
(42.181) |
2.871 |
|
(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) |
229.436 |
312.819 |
357.871 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
187.200 |
121.638 |
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 |
1.391 |
0.400 |
0.288 |
|
Total Non-current
Liabilities (3) |
188.591 |
122.038 |
0.288 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
28.543 |
6.852 |
2.330 |
|
(c) Other current
liabilities |
18.782 |
11.187 |
51.409 |
|
(d) Short-term provisions |
0.142 |
0.437 |
0.602 |
|
Total Current Liabilities
(4) |
47.467 |
18.476 |
54.341 |
|
|
|
|
|
|
TOTAL |
465.494 |
453.333 |
412.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
334.814 |
270.635 |
1.096 |
|
(ii) Intangible Assets |
0.424 |
0.369 |
0.000 |
|
(iii) Capital
work-in-progress |
8.970 |
32.427 |
169.226 |
|
(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 |
0.159 |
|
(d) Long-term Loan and Advances |
33.739 |
38.375 |
84.840 |
|
(e) Other Non-current
assets |
0.737 |
1.326 |
1.915 |
|
Total Non-Current Assets |
378.684 |
343.132 |
257.236 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
26.133 |
3.560 |
0.000 |
|
(c) Trade receivables |
12.143 |
0.925 |
0.376 |
|
(d) Cash and cash
equivalents |
44.890 |
102.429 |
150.731 |
|
(e) Short-term loans and
advances |
3.025 |
0.762 |
0.124 |
|
(f) Other current assets |
0.619 |
2.525 |
4.033 |
|
Total Current Assets |
86.810 |
110.201 |
155.264 |
|
|
|
|
|
|
TOTAL |
465.494 |
453.333 |
412.500 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
18.222 |
18.499 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
43.265 |
18.222 |
18.499 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
126.708 |
64.234 |
14.658 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(83.443) |
(46.012) |
3.841 |
|
|
|
|
|
|
|
|
|
|
TAX |
(0.060) |
(0.807) |
0.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(83.383) |
(45.052) |
2.915 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
2.036 |
0.000 |
0.000 |
|
|
|
Commission income |
12.628 |
10.936 |
9.964 |
|
|
TOTAL EARNINGS |
14.664 |
10.936 |
9.964 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Tangible and intangible
assets |
5.256 |
2.020 |
71.531 |
|
|
|
Stores and spare parts |
2.160 |
0.295 |
0.030 |
|
|
|
Raw material and components |
24.662 |
33.939 |
0.000 |
|
|
TOTAL IMPORTS |
32.078 |
36.254 |
71.561 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(23.49) |
(12.69) |
0.82 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Current
maturities of long-term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net
cash flows from (used in) operations |
(46.304) |
(46.012) |
3.841 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT/Total Income) |
(%) |
(192.73) |
(247.24) |
15.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(18.28) |
(10.93) |
1.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.36) |
(0.15) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.82 |
0.39 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83 |
5.96 |
2.86 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
355.000 |
355.000 |
355.000 |
|
Reserves & Surplus |
2.871 |
(42.181) |
(125.564) |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
357.871 |
312.819 |
229.436 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
121.638 |
187.200 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
121.638 |
187.200 |
|
Debt/Equity ratio |
0.000 |
0.389 |
0.816 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
18.499 |
18.222 |
43.265 |
|
|
|
(1.497) |
137.433 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
18.499 |
18.222 |
43.265 |
|
Profit |
2.915 |
(45.052) |
(83.383) |
|
|
15.76% |
(247.24%) |
(192.73%) |
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 |
Yes |
|
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 |
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 |
No |
|
26 |
Turnover of firm for last about two years
and nine months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about two years and
nine months |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
|
|
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 Office No.301, 3rd
Floor, Krsna Chambers, 11, Galaxy Garden, North Main Road, Koregaon Park, Pune
– 411 001, Maharashtra to the present address w.e.f. 16.07.2012.
CORPORATE
INFORMATION:
The Company is a private limited company domiciled in India and
incorporated on 14 October, 2010 as a 100% subsidiary of Fukoku Co. Limited,
Japan, under the provisions of the Companies Act, 1956. The Company has its
manufacturing facilities in Chakan, Pune to manufacture pulleys and rubber
products for supply to automotive companies. Further, the Company also earns
commission income from its holding company and fellow subsidiary on sale of
wiper blades and brake seals and other products in India as determined between
the respective parties.
OPERATING REVIEW:
The Company has started its commercial production but not in full utilization of capacity due to the continuation of slowdown in auto sector. In such condition even, your Company is trying to get more and more business and had its commercials with Maruti and Honda for the purpose of business in the upcoming Financial Year. Also, the Company even has started and finalise the conditions for export of Damper Pully to Japan to make optimum utilization of the capacity and the Directors are hopeful that the Company will keep its quality production on priority and not on quantity which could give the Company minimal sales return and which will in turn enhance the productivity in quality business.
The Company could do more business in the upcoming years and will have more clientele in India gradually in the upcoming years.
UNSECURED LOAN
|
Particulars |
31.12.2013 (Rs. in Million) |
31.12.2012 (Rs. in Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other external commercial
borrowings (External commercial
borrowings ("ECB") represents foreign currency loans of USD
2,200,000 taken on 2nd July 2012 and USD 800,000 taken on 1st
August 2013 from its holding company. Interest is calculated at 6 months Libor
plus 75 basis points. The loans are repayable on or after 30th
November 2015 and 31st January 2017 respectively in full or in
eight bi-annual installments commencing from the mentioned respective dates.
The holding company also has the right to recall the respective ECB on or
after 31st May 2016 and 31st July 2017 respectively.) |
187.200 |
121.638 |
|
Total |
187.200 |
121.638 |
INDEX OF CHARGES:
No Charges Exist for Company.
FIXED ASSETS:
Tangible Assets
·
Factory Building
·
Plant and Machinery
·
Furniture and Fittings
·
Computers
·
Office Equipment
·
Vehicle
·
Moulds
·
Electrical Installations
·
Leasehold Land
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, 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.64.01 |
|
UK Pound |
1 |
Rs.99.83 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
- |
|
--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 |
|
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.