MIRA INFORM REPORT
|
Report No. : |
327663 |
|
Report Date : |
16.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIBA
TRANSMISSION AND DISTRIBUTION SYSTEMS (INDIA) PRIVATE LIMITED (w.e.f. 07.01.2014) |
|
|
|
|
Formerly Known
As : |
TERRA TRANSMISSION AND DISTRIBUTION INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Rudraram Village, Patancheru Mandal, Medak District – 502329,
Telangana |
|
Tel. No.: |
91-40-30712222 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.06.2013 |
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|
|
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Com. Reg. No.: |
01-088501 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16330.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40108TG2013PTC088501 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAECT6883F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importers of Transformers |
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|
|
|
No. of Employees
: |
4000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 47000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a newly incorporated subsidiary of “Toshiba Corporation,
Japan” which is establishing itself gradually. Mr. Chandra Shekhar, Marketing Manager provided complete information
and confirmed that the management of “Toshiba Corporation, Japan primarily
took over an Indian company named as “Vijay Electricals Limited” on December
27th, 2013 and has complete the statutory procedures for the
acquisition as on January 06, 2014. The company possesses a favorable financial profile marked by healthy
capital base and structure coupled with zero leverage, along with strong
liquidity profile backed by adequate liquid cash during FY2014. Management has witnessed a decent revenue base with a full scale entry
into India T and D market. Whereas has reported a loss from its first partial
year of commercial operations during FY2014. However, trade relations are improving. Business is active. Payment
terms are reported as usually correct. In view of strong parental support and reputation in the global
market, the subject can be considered for business dealings with slight
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Chandra Sekhar |
|
Designation : |
Marketing Manager |
|
Contact No.: |
9392148226 |
|
Date : |
16.06.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Rudraram Village, Patancheru Mandal, Medak District – 502329,
Telangana, India |
|
Tel. No.: |
91-40-30712222 |
|
Mobile No.: |
91-9392148226 (Mr. Chandra Sekhar) |
|
Fax No.: |
91-40-30712245 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
160 Acer |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Branch 1 : |
1107, Hemkunt Chambers 89, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-26423634 / 91-11-24502955 |
|
Fax No.: |
91-11-41618334 |
|
|
|
|
Branch 2 : |
6, Waterloo Street, Unit 102, I Floor, Kolkatta – 700069, West Bengal, India |
|
Tel. No.: |
91-33-30243643 |
|
Fax No.: |
91-33-30244162 |
|
|
|
|
Branch 3 : |
601, 6th Floor, C&B Square, Big Cinema Complex, Andheri - Kurla Road, Chakala, Andheri (East), Mumbai - 400 059, Maharashtra, India |
|
Tel. No.: |
91-22-61911519/1549 |
|
Fax No.: |
91-22-61911524 |
|
|
|
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Branch 4 : |
A-2/425, GIDC, Makarapura Vadodara – 390010 Gujarat, India |
|
Tel. No.: |
91-265-2356805 |
DIRECTORS
AS ON 15.12.2014
|
Name : |
Katsutoshi Toda |
|
Designation : |
Chairman |
|
Address : |
Plot No. 204, Temple Square Apartments, Sri Bagh Colony, Kothaguda,
Hyderabad – 500084, Telangana, India |
|
Date of Birth/Age : |
01.12.1956 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06730348 |
|
|
|
|
Name : |
Isao Hioki |
|
Designation : |
Whole time Director |
|
Address : |
Plot No. 503, Temple Square Apartments, Sri Bagh Colony, Kothaguda,
Hyderabad – 500084, Telangana, India |
|
Date of Birth/Age : |
04.02.1960 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06730378 |
|
|
|
|
Name : |
Masatoshi Ono |
|
Designation : |
Whole time Director |
|
Address : |
Plot No. 205, Temple Square Apartments, Sri Bagh Colony, Kothaguda,
Hyderabad – 500084, Telangana, India |
|
Date of Birth/Age : |
02.09.1957 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06730380 |
|
|
|
|
Name : |
Kazutoshi Ogata |
|
Designation : |
Director |
|
Address : |
18-33-1014, Nishiarai, sakae, CHO 1 – Chome Adachi – KU, Tokyo –
1230843, Japan |
|
Date of Birth/Age : |
19.09.1968 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06632292 |
|
|
|
|
Name : |
Taketoshi Miyamoto |
|
Designation : |
Director |
|
Address : |
21 – 15 – 107, Shimura, 3-Chome, Itabashiku, Tokyo – 1740056, Japan |
|
Date of Birth/Age : |
26.05.1967 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06730401 |
|
|
|
|
Name : |
Mr. Ashok Narindernath Kamra |
|
Designation : |
Director |
|
Address : |
PO Box 36967, Abu Dhabi – 36967, United Arab Emirates |
|
Date of Birth/Age : |
27.12.1960 |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
06779719 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Babu Pentyala |
|
Designation : |
Secretary |
|
Address : |
12-2-B23-A/76, Santosh Nagar, Mehdipatnam, Hyderabad – 500028,
Telangana, India |
|
Date of Birth/Age : |
10.07.1964 |
|
Date of Appointment : |
28.12.2013 |
|
PAN No.: |
ACUPP4459Q |
|
|
|
|
Name : |
Mr. Chandra Sekhar |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.12.2014
|
Names of Shareholders |
No. of Shares |
|
Toshiba Corporation, Japan |
1633009999 |
|
Toshiba Substation Equipment Technology Corporation |
1 |
|
Total |
1633010000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 15.12.2014
|
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 |
%20PRIVATE%20LIMITED%20%20-%20327663%2016-Jun-2015_files/image006.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importers of Transformers |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Transformers |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Other
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No. of Employees : |
4000 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
Tidel Park 6th and 7th Floor, Module 601, 701-702 No. 4 Rajiv Gandhi Salai, Taramani, Chennai – 600113, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9118A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate : |
Toshiba Corporation, Japan |
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|
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|
Fellow Subsidiary
company : |
Toshiba India Private Limited, India
[U72200DL2001PTC112391] Toshiba Trading Incorporated, Japan |
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|
CAPITAL STRUCTURE
AS ON 15.12.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1633010000 |
Equity Shares |
Rs.10/- each |
Rs.16330.100
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
|
16330.100 |
|
(b) Reserves & Surplus |
|
|
(6.400) |
|
(c) Money received
against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
|
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
|
16323.700 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a)
long-term borrowings |
|
|
0.000 |
|
(b)
Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
284.800 |
|
Total Non-current Liabilities (3) |
|
|
284.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
1874.800 |
|
(c) Other current liabilities |
|
|
1924.000 |
|
(d) Short-term provisions |
|
|
60.100 |
|
Total Current Liabilities (4) |
|
|
3858.900 |
|
|
|
|
|
|
TOTAL |
|
|
20467.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
4417.000 |
|
(ii) Intangible Assets |
|
|
6152.400 |
|
(iii) Capital work-in-progress |
|
|
38.200 |
|
(iv) Intangible assets under development |
|
|
694.600 |
|
(b)
Non-current Investments |
|
|
0.000 |
|
(c)
Deferred tax assets (net) |
|
|
30.100 |
|
(d)
Long-term Loan and Advances |
|
|
170.600 |
|
(e) Other Non-current assets |
|
|
54.300 |
|
Total Non-Current Assets |
|
|
11557.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
1906.700 |
|
(c) Trade receivables |
|
|
4171.600 |
|
(d) Cash and cash equivalents |
|
|
2401.300 |
|
(e) Short-term loans and advances |
|
|
360.700 |
|
(f) Other current assets |
|
|
69.900 |
|
Total Current Assets |
|
|
8910.200 |
|
|
|
|
|
|
TOTAL |
|
|
20467.400 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
1623.800 |
|
|
Other Income |
|
|
45.400 |
|
|
TOTAL |
|
|
1669.200 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
1501.200 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
168.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
29.700 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
138.300 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
146.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
(8.000) |
|
|
|
|
|
|
|
Less |
TAX |
|
|
(1.600) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
|
(6.400) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
|
|
209.400 |
|
|
TOTAL EARNINGS |
|
|
209.400 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
CIF value of imports |
|
|
267.900 |
|
|
TOTAL IMPORTS |
|
|
267.900 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
0.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
|
Current Maturities of Long term debt |
111.200 |
|
Cash generated from operations |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2014 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
|
(0.39) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
|
10.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(0.04) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.31 |
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 |
Yes |
|
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 one 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Regus hitechcity, plot no. 18, Level 2, oval building, labs center, madhapur Hyderabad -500081, Andhra Pradesh, India to the present address w.e.f. 27.12.2013
PERFORMANCE REVIEW
During the period, the company has recorded total revenue (net of excise duty) of Rs.1669.200 Million and EBITDA of Rs.168.000 Million. The Loss before Tax and Loss after Tax were Rs.8.000 Million and Rs.6.400 Million respectively. During the period under review, the company has achieved export turnover of Rs.209.400.
OUTLOOK
T and D Equipment industry is currently witnessing an over capacity situation, which has led to a fierce price competition amongst the players in the industry. Cut throat competition has led to the erosion in the margins of our company. Additions to power generation have slowed down and this has adversely affected the T & D Equipment industry. The major reasons for the slowdown in domestic power generation capacity additions were delay in supply of power equipment, inability to get adequate fuel linkages, delay in land acquisition, environmental issues and tight credit crunch faced by major industries around the world due to the global financial meltdown. The culmination of above factors has put the margins under severe pressure for the industry as a whole.
However, the company remains optimistic about the future of the T&D Equipment Industry owing to the impending sharp rise in the power generation capacities in India. The Power sector will have to demonstrate commensurate growth if India’s GDP is to grow in the range of 7-8%. There is enormous power deficit in the Country, which translates into huge growth potential for power sector and great opportunity for T&D Equipment.
The company foresees bright future as we expect huge demand for 400 KV and above class transformers in which the company has strong technical capabilities. The company foresees huge opportunities in the markets of African, Far Eastern Countries, European Countries etc., and the exports continue to be thrust area for the Company.
The overall outlook for the company continues to be positive and the management is optimistic in this regard.
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
|
Claims against company not acknowledged as debt |
4.600 |
|
Other money for which company is contingently liable |
203.100 |
|
Total |
207.700 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
Intangible assets
- Goodwill
- Computer software
- Patents
·
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.64.09 |
|
UK Pound |
1 |
Rs.99.57 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.