MIRA INFORM REPORT

 

 

Report No. :

324007

Report Date :

05.06.2015

 

IDENTIFICATION DETAILS

 

Name :

FLEXTRONICS TECHNOLOGIES (INDIA) PRIVATE LIMITED

 

 

Registered Office :

Plot No.3, Phase II, SIPCOT Industrial Park, Sriperumbudur Taluk, Sandavellure C Village, District Kanchipuram-602106, Tamilnadu

Tel. No.:

91-44-67105000/ 66251200/ 67105093

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

12.01.2001

 

 

Com. Reg. No.:

18-070708

 

 

Capital Investment / Paid-up Capital :

Rs. 1746.762 Million

 

 

CIN No.:

[Company Identification No.]

U31909TN2001PTC070708

 

 

IEC No.:

0500076375

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACF5248E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Antenna, Base Station, Copier, PCBA and their Components.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 9997000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established private limited company incorporated in the year 2001, having good track record.

 

As per financials of the year 2014, the company has recorded huge hike in sales turnover and profit amount.

 

Company has recorded profit of Rs. 1025.516 Million in FY14 as compare to Rs. 312.600 Million in FY 13. Profitability of the firm is high.

 

The net worth of the company recorded as strong overall financial position appears to be decent.

 

Trade relations are fair. Business is active. Payment terms are regular.

 

The company can be considered for 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

 

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 BY

 

Name :

Mr. Mohan

Designation :

Finance Manager

Contact No.:

91-80-30801300

Date :

29.05.2015

 

LOCATIONS

 

Registered Office/ Factory 1 :

Plot No.3, Phase II, SIPCOT Industrial Park, Sriperumbudur Taluk, Sandavellure C Village, District Kanchipuram-602106, Tamilnadu, India

Tel. No.:

91-44-67105000/ 66251200/ 67105093

Fax No.:

Not available

E-Mail :

sabuj.choudhury@flextronics.com

arunachalam.veerappan@in.flextronics.com 

Website :

www.flextronics.com

 

 

Factory 2 :

RMZ Millennia Business Park Campus II, No. 143, DR MGR Road Chennai, Tamil Nadu 600096, India

Tel. No.:

91-44-66251200

 

 

Branch Offices :

Located at:

 

·         Bangalore

·         Pune

·         Gurgaon

·         Mumbai

 

 

DIRECTORS

 

AS ON 19.12.2014

 

Name :

Mr. Ashok Dhawan

Designation :

Managing director

Address :

B-73, Pinnacle Golf Course, DLF Phase 5, Gurgaon-122003, Haryana, India

Date of Birth/Age :

16.11.1964

Date of Appointment :

29.09.2008

PAN No.:

AAAPD6791R

DIN No.:

00798959

Other Directorship :

S.NO.

CIN/LLPIN

NAME OF THE COMPANY/ LLP

CURRENT DESIGNATION OF THE DIRECTOR/ DESIGNATED PARTNER

DATE OF APPOINTMENT AT CURRENT DESIGNATION

ORIGINAL DATE OF APPOINTMENT

COMPANY/ LLP STATUS

DEFAULTING STATUS

1

U31909TN2001PTC070708

FLEXTRONICS TECHNOLOGIES (INDIA) PRIVATE LIMITED

MANAGING DIRECTOR

29-09-2008

15-11-2007

ACTIVE

NO

2

U51505TN2007FTC065546

FLEXPOWER INDIA PRIVATE LIMITED

DIRECTOR

23-09-2013

08-01-2013

AMALGAMATED

NO

 

 

Name :

Mr. Sekaran Letchumanan

Designation :

Director

Address :

55, Lorong Permai 5, Kota Permai, Bukit Mertajam 14000, Pulau Pinang, Malaysia, India

Date of Appointment :

30.09.2013

DIN No.:

02069716

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U51505TN2007FTC065546

FlexPower India Private Limited

Director

23-09-2013

21-04-2008

Amalgamated

NO

2

U31909TN2001PTC070708

FLEXTRONICS TECHNOLOGIES (INDIA) PRIVATE LIMITED

Director

30-09-2013

05-06-2008

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Sabuj Das Choudhury

Designation :

Secretary

Address :

Villa C4, Phase 2, Chettinad, Enclave, s. kolathur Road, Pallikarani, Chennai 600100, Tamil Nadu, India

Date of Appointment :

06.11.2013

PAN No.:

ARPPS3640C

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 19.12.2014

 

Names of Shareholders (Equity Shares)

 

No. of Shares

 

Flextronics International Asia-Pacific Limited, Mauritius

 

59837066

Flextronics telecom Systems Limited, Mauritius

 

1401915

Flextronics Mauritius Limited, Mauritius

 

302558

Flextronics Logistics B.V., Mauritius

 

4

Power Systems Technologies Limited, Mauritius

 

7466506

Total

 

69008049

 

 

Names of Shareholders (Preference Shares)

 

No. of Shares

Flextronics International Asia-Pacific Limited, Mauritius

 

105668199

Total

 

105668199

 

 

AS ON 19.12.2014

 

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 of Antenna, Base Station, Copier, PCBA and their Components.

 

 

Products :

---

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Not Divulged

Countries :

Not Divulged

 

 

Imports :

 

Products :

Not Divulged

Countries :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

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 (Designation):

Not Divulged

Contact Number:

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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

 

Facilities :

---

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Jain, Christopher, Srikanth  and  Srikanth

Chartered Accountants

Address :

20 2Nd Floor, Uni worth Plaza, Sankey Road, Bangalore, Karnataka, India

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

AADFJ0586H

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding company :

Flextronics International Asia-Pacific Limited,  Mauritius

 

 

Associates :

·         Flextronics America LLC, USA

·         Flextronics International USA INC

·         Flextronics power System Dongguan Company Limited, China

·         Flextronics Technology Penang SDN BHD, Malaysia

·         Flextronics Automotive Suzhou Company Limited, China

·         Flextronics Global Enclosures Shanghai Company Limited, China

·         Flextronics Industrial Limited, USA

·         Flextronics Internation Limited, Mauritius

·         Flextronics International Japan Company Limited

·         Flextronics International USA INC

·         Flextronics International Euro, Netherlands

·         Flextronics International Europe BV, Netherlands

·         Flextronics International GMBH Austria

·         Flextronics International Japan Company Limited

·         Flextronics International japan Company Limited

·         Flextronics International KFT Germany

·         Flextronics International KFT Japan

·         Flextronics international

·         Latin America Limited Mexico

·         Flextronics International LLC USA

·         Flextronics international Management Services Limited, Mauritius

·         Flextronics Sales  and Marketing AP Limited

·         Flextronics International Poland SP Zoo Poland

·         Flextronics International Tecnologial Limited a Brazil

·         Flextronics International USA INC

·         Flextronics International USA INC

·         Flextronics International USA Limited.

·         Flextronics Logistics USA, India

·         Flextronics Logistics Hong Kong Limited

·         Flextronics Manufacturing (H.K.) Limited

·         Flextronics logistics Singapore Pte Limited

·         Flextronics Manufacturing Europe bv Netherlands

·         Flextronics Manufacturing Mexico De C V

·         Flextronics manufacturing Singapore pte ltd

·         Flextronics Manufacturing Tianjin Company Limited

·         Flextronics Manufacturing Zhuhai Company Limited

·         Flextronics Marketing Limited Malaysia

·         Flextronics Shahalam SDN. BHD.

·         Flextronics Shahalam (Malaysia)

·         Flextronics Technology Malaysia SDN BHD

·         Flextronics Technology Penang SDN BHD

·         Flextronics Power System Dongguan Company  Limited, China

·         Flextronics powerSystem dongguanCo Limited

·         Flextronics Shanghai Electronic Equipment Repairs

·         Flextronics Telecom Systems Limited, Mauritius

·         Power Systems Technologies Limited

·         Power Systemsr and Singapore Pte Limited

·         Power Systems Technologies,  China

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

151020000

Equity Shares

Rs. 10/- each

Rs. 1510.200 Million

115000000

Preference Shares

Rs. 10/- each

Rs. 1150.000 Million

 

                                                                    Total

 

Rs. 2660.200 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

69008049

Equity Shares

Rs. 10/- each

Rs. 690.080 Million

105668199

Preference Shares

Rs. 10/- each

Rs. 1056.682 Million

 

                                                                    Total

 

Rs. 1746.762 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

1746.762

1672.097

1659.146

(b) Reserves & Surplus

1752.170

753.370

431.652

(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)

3498.932

2425.467

2090.798

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

2.479

2.479

14.979

(b) Deferred tax liabilities (Net)

0.000

0.000

28.925

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

253.640

125.289

99.598

Total Non-current Liabilities (3)

256.119

127.768

143.502

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

3249.957

719.883

615.037

(c) Other current liabilities

271.300

191.826

288.517

(d) Short-term provisions

512.882

292.181

329.429

Total Current Liabilities (4)

4034.139

1203.890

1232.983

 

 

 

 

TOTAL

7789.190

3757.125

3467.283

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1549.924

1218.543

1263.966

(ii) Intangible Assets

25.776

10.926

14.892

(iii) Capital work-in-progress

91.071

0.703

6.584

(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)

373.443

0.000

0.000

(d)  Long-term Loan and Advances

121.713

82.628

63.806

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2161.927

1312.800

1349.248

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1777.956

305.232

361.823

(c) Trade receivables

2539.210

1192.518

796.687

(d) Cash and cash equivalents

733.488

529.083

613.964

(e) Short-term loans and advances

240.235

371.250

323.403

(f) Other current assets

336.374

46.242

22.158

Total Current Assets

5627.263

2444.325

2118.035

 

 

 

 

TOTAL

7789.190

3757.125

3467.283

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

TOTAL REVENUE

11287.356

5055.124

4162.521

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX

677.072

312.600

(2.126)

 

 

 

 

 

Less

TAX                                                                 

(348.444)

0.000

               0.000

 

 

 

 

 

 

PROFIT AFTER TAX

1025.516

312.600

(2.126)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

11181.489

3972.166

NA

 

TOTAL EARNINGS

11181.489

3972.166

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

5.87

1.87

(0.01)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

9.24

8.32

(0.06)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.19

0.13

0.00

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.00

0.00

0.01

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.39

2.03

1.72

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

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

1659.146

1672.097

1746.762

Reserves & Surplus

431.652

753.370

1752.170

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

2090.798

2425.467

3498.932

 

 

 

 

Long-term borrowings

14.979

2.479

2.479

Short term borrowings

0.000

0.000

0.000

Total borrowings

14.979

2.479

2.479

Debt/Equity ratio

0.007

0.001

0.001

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Revenue

4162.521

5055.124

11287.356

 

 

21.444

123.285

 

 

 

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

4162.521

5055.124

11287.356

Profit

(2.215)

312.600

1025.516

 

(0.05)%

6.18%

9.09%

 

 

 

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

Yes

8

Designation of contact person

Yes

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 three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

No

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: No Charges Exist for Company.

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Loans and advances from related parties

2.479

2.479

Total

 

2.479

2.479

 

MERGER AND AMALGAMATION

 

The Board of Directors of the Company vide its resolution passed during the Board Meeting dated 21st March 2014, approved a Scheme of Arrangement of the Company with FlexPower India Private Limited (hereinafter referred to as ? Flex Power?) with the Company with effect from the Appointed Date, i.e. 1st day of April, 2013.The said Scheme of Arrangement was approved by the High Court of Madras, Tamil Nadu, vide its Order dated 26th August 2014.

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the company has been shifted from 88A, Electronic City, Hosur Road, Bangalore, Karnataka, India to the present address w.e.f 12.11.2008

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Equipments

·         Furniture and Fixture

·         Vehicles

·         Office Equipments

·         Leasehold Improvements

 

 

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. 64.18

UK Pound

1

Rs. 98.30

Euro

1

Rs. 72.25

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--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

 

50

 

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.