MIRA INFORM REPORT

 

 

Report No. :

325737

Report Date :

09.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SKF TECHNOLOGIES (INDIA) PRIVATE LIMITED (w.e.f.19.06.2007)

 

 

Formerly Known As :

SKF SEALING SOLUTIONS INDIA PRIVATE LIMITED (w.e.f.15.02.2006)

 

CR SEALS INDIA PRIVATE LIMITED

 

 

Registered Office :

Plot No. 2, Bommasandra Industrial Area, Hosur Road, Bangalore – 560099, Karnataka

Tel. No.:

91-80-40329000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

07.07.1997

 

 

Com. Reg. No.:

08-027954

 

 

Capital Investment / Paid-up Capital :

Rs. 2200.000 Million

 

 

CIN No.:

[Company Identification No.]

U29195KA1997PTC027954

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACC4393D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing of Bearing and also Manufacturing and Trading of Seals/Testing services.

 

 

No. of Employees :

Not Divulged

 

 

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 5900000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of Aktiebolaget SKF, Sweden.

 

It is an established company having moderate track record.

 

The rating is constrained on account of continuous losses incurred by the company which has further turned reserves into negative.

 

However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered for business dealings with some caution.

 

NOTE:

Management of the company has changed its financial year from December 2012 to March 2014 ranging from (January 2013 to March 2014) for 15 Months.

 

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

 

MANAGEMENT NON-COOPERATIVE

 

[CONTACT NO.: 91-22-66337777/ 91-20-66112500]

 

 

LOCATIONS

 

Registered Office :

Plot No. 2, Bommasandra Industrial Area, Hosur Road, Bangalore – 560099, Karnataka, India

Tel. No.:

91-80-40329000/ 49130100

Fax No.:

91-80-40329107/ 40359421

E-Mail :

neetu.jain@skf.com

Website :

http://www.skf.com

 

 

Factories :

Located at:

 

·         Mysore

·         Ahmedabad

 

 

DIRECTORS

 

AS ON 12.09.2014

 

Name :

Mr. Sanjeebit Choudhury

Designation :

Director

Address :

Bungalow 2A, South Colony, SKF Bearings Chinchwad, Pune – 411003, Maharashtra, India

Date of Birth/Age :

30.06.1963

Date of Appointment :

21.03.2014

DIN No.:

06844206

 

 

Name :

Mr. Chandramowli Srinivasan

Designation :

Director

Address :

Flat No. 10, Building D1, Ratan Park, Phase II, Sus Pashan Road, Pune – 411021, Maharashtra, India

Date of Birth/Age :

01.12.1962

Date of Appointment :

10.03.2009

PAN No.:

ADPPS9352M

DIN No.:

02591964

 

 

Name :

Mr. Arun Shivaram

Designation :

Director

Address :

1106, 4 Main Road, Brooke Fields, D Block, Aecs Layout, Bangalore – 560037, Karnataka, India

Date of Birth/Age :

29.05.1965

Date of Appointment :

22.12.2010

PAN No.:

AGIPS1732K

DIN No.:

03415525

 

 

Name :

Mr. Shrikant Anantrao Savangikar

Designation :

Director

Address :

P 17, Suyog Heights, Sneh Paradise Rambaug Colony, Kothrud, Pune – 411038, Maharashtra, India

Date of Birth/Age :

08.09.1958

Date of Appointment :

12.02.2013

DIN No.:

06484696

 

 

KEY EXECUTIVES

 

Name :

Mrs. Neetu Jain

Designation :

Secretary

Address :

G1, Priyanka Niwas, Veer Bhadranagar Basavanagar, Bangalore – 560037, Karnataka, India

Date of Birth/Age :

19.06.1978

Date of Appointment :

15.06.2007

PAN No.:

AIFPJ1801M

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 12.09.2014

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Aktiebolaget SKF, Sweden

2026500101

92.11

SKF Forvaltning AB, Sweden

173499899

7.89

 

 

 

Total

 

2200000000

100.00

 

 

 

 

AS ON 25.03.2015

 

Names of Allottee

No. of Shares

 

AB SKF, Sweden

240000000

 

 

Total

 

240000000

 

 

AS ON 12.09.2014

 

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 :

Manufacturing of Bearing and also Manufacturing and Trading of Seals/Testing services.

 

 

Products :

ITC Code No.

 

Product Descriptions

84842000

Manufacturing of the bearing / Manufacturing and Trading of Seals/Testing services allied to product platforms across the SKF World

 

 

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 :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.12.2012

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Rupee term loans from others

2300.000

2200.000

 

 

 

Total

 

2300.000

2200.000

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Price Waterhouse and Company

Chartered Accountants

Address :

7th Floor, Business Bay, Tower-A, Wing-1, Airport Road, Yerwada, Pune – 411006, Maharashtra, India

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

AADFP9359C

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding company :

Aktiebolaget SKF (Head Office) Goteborg, Sweden (AB SKF)

 

 

Fellow Subsidiary company :

·         P.T. SKF Indonesia, Indonesia

·         RFT S.p.A., Italy

·         RKS S.A.-SKF Slewing Bearings, France

·         SKF (China) Sales Co. Limited, China

·         SKF (Dalian) Bearings and Precision and Co. Limited

·         SKF (U.K.) Limited, United Kingdom

·         SKF B.V. , Netherlands

·         SKF Canada Limited, Scarborough, Ont., Canada

·         SKF de Mexico, S.A. de C. V. Mexico D.F. , Mexico

·         SKF do Brasil Ltda., Brazil

·         SKF Espanola S.A., Madrid, Spain

·         SKF European Distribution Centre (EDC), Belgium

·         SKF France S.A., France

·         SKF GmbH, Germany

·         SKF Industrie S.p.A, Italy

·         SKF Japan Limited, Japan

·         SKF Korea Limited Korea

·         SKF Österreich AG., Austria

·         SKF Sealing Solutions AB, Sweden

·         SKF Shanghai Bearings Co. Limited, China

·         SKF Asia Pacific Pte. Limited, Singapore

·         SKF Sverige AB, Sweden

·         SKF India Limited [L29130MH1961PLC011980]

·         SKF USA Inc., Kulpsville/Lansdale, PA, USA

·         SKF Ukraine, Ukraina

·         SKF Mekan AB, Sweden

·         SKF Sealing Solutions GmbH, Leverkusen-Opladen, Germany

·         SKF International AB (Treasury Centre), Göteborg

·         SKF Bearing Industries (Malaysia) Sdn. Bhd, Nilai

·         SKF Automotive Technologies Co, China Beijing Nankou

·         SKF Railway Bearings Co. Limited, Beijing

·         SKF Korea Limited, Pusan

·         SKF Sealing Solutions (WUHU) Co., Limited (former Anhui CR Seals Co. Limited), Anhui

·         SKF (China) Investment Co. Limited, Shanghai

·         SKF Poznan S.A., Poznan

·         SKF Bearings Bulgaria EAD

·         SKF Taiwan

·         SKF Sealing Solutions Korea Co Limited

 

 

CAPITAL STRUCTURE

 

AFTER 12.09.2014

 

Authorised Capital : Rs. 3000.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 2920.000 Million

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,500,000,000

Equity Shares

Re. 1/- each

Rs. 2500.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,200,000,000

Equity Shares

Re. 1/- each

Rs. 2200.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

[15 Months]

31.12.2012

31.12.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2200.000

1600.000

1000.000

(b) Reserves & Surplus

(132.900)

356.100

276.300

(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)

2067.100

1956.100

1276.300

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

2300.000

2200.000

2055.000

(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

24.000

6.200

5.200

Total Non-current Liabilities (3)

2324.000

2206.200

2060.200

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

529.700

565.000

811.000

(c) Other current liabilities

192.500

511.800

305.300

(d) Short-term provisions

6.400

10.800

13.900

Total Current Liabilities (4)

728.600

1087.600

1130.200

 

 

 

 

TOTAL

5119.700

5249.900

4466.700

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3190.500

3136.100

2322.000

(ii) Intangible Assets

12.900

13.200

4.500

(iii) Capital work-in-progress

194.100

376.600

702.600

(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

288.000

320.500

375.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

3685.500

3846.400

3404.100

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

760.700

634.900

625.900

(c) Trade receivables

379.100

316.600

296.800

(d) Cash and cash equivalents

42.700

295.600

17.200

(e) Short-term loans and advances

251.700

156.400

122.700

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

1434.200

1403.500

1062.600

 

 

 

 

TOTAL

5119.700

5249.900

4466.700

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

[15 Months]

31.12.2012

31.12.2011

 

SALES

 

 

 

 

 

Income

2859.800

1867.800

1584.600

 

 

Other Income

29.600

11.000

267.000

 

 

TOTAL                                     (A)

2889.400

1878.800

1851.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

3006.800

1952.000

1955.500

 

 

 

 

 

 

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

(117.400)

(73.200)

(103.900)

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

278.000

215.500

177.800

 

 

 

 

 

 

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

(395.400)

(288.700)

(281.700)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

393.600

231.500

189.900

 

 

 

 

 

 

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

(789.000)

(520.200)

(471.600)

 

 

 

 

 

Less

TAX                                                                  (H)

0.000

0.000

0.000

 

 

 

 

 

 

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

(789.000)

(520.200)

(471.600)

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

(0.36)

(0.33)

(0.47)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

[15 Months]

31.12.2012

31.12.2011

Current Maturities of Long term debt

40.000

200.000

0.000

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

[15 Months]

31.12.2012

31.12.2011

Net Profit Margin

(PAT / Sales)

(%)

(27.59)

(27.85)

(29.76)

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

(4.11)

(3.92)

(6.56)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(16.02)

(10.67)

(12.53)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.38)

(0.27)

(0.37)

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.13

1.23

1.61

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.97

1.29

0.94

 

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

31.12.2011

31.12.2012

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

1000.000

1600.000

2200.000

Reserves & Surplus

276.300

356.100

-132.900

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

1276.300

1956.100

2067.100

 

 

 

 

Long-term borrowings

2055.000

2200.000

2300.000

Short term borrowings

0.000

0.000

0.000

CURRENT MATURITIES OF LONG-TERM DEBTS

0.000

200.000

40.000

Total borrowings

2055.000

2400.000

2340.000

Debt/Equity ratio

1.610

1.227

1.132

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.12.2011

31.12.2012

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1584.600

1867.800

2859.800

 

 

17.872

53.111

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.12.2011

31.12.2012

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1584.600

1867.800

2859.800

Profit/ (Loss)

(471.600)

(520.200)

(789.000)

 

(29.76%)

(27.85%)

(27.59%)

 

 

 

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

No

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

10139967

08/11/2013 *

2,400,000,000.00

SKF INDIA LIMITED

M G M BUILDING, NETAJI SUBHASH ROAD, MUMBAI, MAHARASHTRA - 400002, INDIA

B92429372

2

80049982

22/06/1999

66,500,000.00

TIMES BANK LIMITED

BANGALORE BRANCH, M.G. ROAD, BANGALORE, KARNATAKA 
- 560001, INDIA

-

3

80049983

29/12/1998

5,000,000.00

UTI BANK LIMITED

SIR P,M. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

-

 

* Date of charge modification

 

 

PERFORMANCE

 

The Company has achieved a total sales of 2859.800 MINR (previous year 1509.500 MINR) out of which 1812.100 MINR is manufactured sales (previous year 1156.400 MINR). On the Trading sales, the Company has achieved a turnover of 433.000 MINR (previous year 353.1 MINR)

 

The overall performance for the Company in the year 2013 has not been satisfactory on account of lower load levels in the Ahmedabad and Mysore factory. The Company is making continuous efforts to increase sales, get business from the winning customers and reduce overall cost.

 

 

CONTINGENT LIABILITIES:

 

Particulars

31.03.2014

(Rs. In Million)

31.12.2012

(Rs. In Million)

Claims against the company not acknowledged as debts

 

 

Income-tax Matters

43.000

0.000

Service tax Matters

40.900

5.000

Sales tax Matters

4.900

2.100

 

 

 

Total

 

88.800

7.100


FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and equipment

·         Factory equipments

·         Furniture and fixtures

·         Vehicles

·         Motor vehicles

·         Office equipment

·         Other equipments

·         Leasehold improvements

·         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. 64.11

UK Pound

1

Rs. 97.84

Euro

1

Rs. 71.12

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

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

2

--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

 

--

 

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.