MIRA INFORM REPORT
|
Report No. : |
327203 |
|
Report Date : |
17.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
KUBOTA AGRICULTURAL MACHINERY INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 15, Medavakkam Road, Sholinganallur, Chennai – 600119, Tamilnadu |
|
Tel. No.: |
91-44-61041500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.12.2008 |
|
|
|
|
Com. Reg. No.: |
18-070096 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 500.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29210TN2008FTC070096 |
|
|
|
|
IEC No.: |
0408035421 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEK09667A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCK5472E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Agricultural Machineries. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 683000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary “KUBOTA CORPORATTION. It is an established
company having moderate track record. The rating is constrained on account of company’s moderate operational
risk profile and losses that company has incurred from its operations. Due to operational losses, reserves position got hampered and it has
leverage the balance sheet profile of the company. However, company receives good financial and managerial support from
its holding company. Trade relations are reported as fair. Payments are reported to be slow
but correct. In view of leverage balance sheet profile, the company can be
considered for business dealing 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
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 COPERATIVE
(TEL NO.: 91-44-61041500/ 61041501/ 61041502)
LOCATIONS
|
Registered Office : |
No. 15, Medavakkam Road, Sholinganallur, Chennai – 600119, Tamilnadu,
India |
|
Tel. No.: |
91-44-61041500/ 61041501/ 61041502 |
|
Fax No.: |
91-44-6104-1600 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 18.07.2014
|
Name : |
Hideo Takigawa |
|
Designation : |
Director |
|
Address : |
57-2-512, Minkunigaoka Miyuki Dori, Sakaiku, Sakai, Osaka, Na, Japan |
|
Date of Birth/Age : |
01.02.1964 |
|
Date of Appointment : |
09.05.2012 |
|
DIN No.: |
05263302 |
|
|
|
|
Name : |
Takuya Yamamoto |
|
Designation : |
Managing Director |
|
Address : |
4-14-14-1203, Akasaka Minato-Ku, Tokyo -1070052, Japan |
|
Date of Birth/Age : |
20.03.1971 |
|
Qualification : |
BA Commerce |
|
Experience : |
21 Years |
|
Date of Appointment : |
09.05.2012 |
|
DIN No.: |
05237078 |
|
|
|
|
Name : |
Fujii Yoshiaki |
|
Designation : |
Whole-Time Director |
|
Address : |
1-16-3-301, Mukonosouhigashi Amagasaki,, Hyogo - 6610032, Japan |
|
Date of Birth/Age : |
04.04.1973 |
|
Qualification : |
BA Geography |
|
Experience : |
17 Years |
|
Date of Appointment : |
09.05.2012 |
|
DIN No.: |
05237098 |
|
|
|
|
Name : |
Satoshi Suzuki |
|
Designation : |
Managing director |
|
Address : |
No. 4-801, 2 - Chome 1-Ban Saito, Asagi Ibaraki, Osaka - 567081, Japan |
|
Date of Birth/Age : |
23.06.1970 |
|
Qualification : |
BA |
|
Experience : |
21 Years |
|
Date of Appointment : |
08.04.2013 |
|
DIN No.: |
06527098 |
|
|
|
|
Name : |
Tatsuhisa Hiramatsu |
|
Designation : |
Director |
|
Address : |
7-26-2-404, Funabashi Setagaya - Ku, Tokyo - 1560055, Japan |
|
Date of Birth/Age : |
18.12.1961 |
|
Date of Appointment : |
13.05.2013 |
|
DIN No.: |
05318622 |
KEY EXECUTIVES
|
Name : |
A G Venkateswaran |
|
Designation : |
Secretary |
|
Address : |
B-22, Ashhesha,, Sector 3, Srishti, Mira Road (E), Thane, 401107, Maharashtra, India |
|
Date of Birth/Age : |
05.10.1967 |
|
Date of Appointment : |
01.05.2015 |
|
PAN No.: |
AAAPV4112A |
|
|
|
|
Name : |
Mr. Masanari Mizumoto |
|
Designation : |
Vice President |
|
Qualification : |
Mechanical Engineer |
|
Experience : |
37 Years |
|
|
|
|
Name : |
Mr. Tetsuo Suzuki |
|
Designation : |
Senior General Manager |
|
Qualification : |
Agriculture Engineer |
|
Experience : |
30 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.07.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Kubota Corporation |
30000000 |
60.00 |
|
Sumitomo Corporation |
18000000 |
36.00 |
|
Sumitomo Corporation Asia and Oceania Pte limited |
2000000 |
4.00 |
|
Total |
50000000 |
100.00 |
AS ON 18.07.2014
|
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 : |
Trader of Agricultural Machineries. |
|
|
|
|
Brand Names : |
-- |
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|
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|
Agencies Held : |
-- |
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|
|
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Exports : |
-- |
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|
|
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Imports : |
-- |
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|
|
|
Terms : |
-- |
PRODUCTION STATUS: Not AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Old
No. 37, New No. 52, 7th Floor, ASVN Ramana Tower, Venkatnarayana Road, T'
Nagar, Chennai - 600 017, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Holding company : |
Kubota Corporation, Japan |
|
|
|
|
Fellow Subsidiary Company : |
· Kubota Industrial Equipment Corporation · Kubota Agricultural Machinery (Suzhou) Co. Limited · SIAM Kubota Corporation Co. Limited ·
Kubota Manufacturing of America Corporation |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives : |
· Sumitomo Corporation ·
Sumitomo Corporation Asia Pte. Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 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 |
500.000 |
200.000 |
200.000 |
|
(b) Reserves & Surplus |
(260.910) |
(173.965) |
(139.312) |
|
(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) |
239.090 |
26.035 |
60.688 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
5.891 |
5.848 |
4.445 |
|
Total
Non-current Liabilities (3) |
5.891 |
5.848 |
4.445 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
1472.895 |
508.451 |
686.912 |
|
(c)
Other current liabilities |
614.421 |
267.317 |
345.835 |
|
(d)
Short-term provisions |
26.272 |
15.838 |
12.875 |
|
Total
Current Liabilities (4) |
2113.588 |
791.606 |
1045.622 |
|
|
|
|
|
|
TOTAL |
2358.569 |
823.489 |
1110.755 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
19.236 |
17.876 |
20.788 |
|
(ii)
Intangible Assets |
0.459 |
0.382 |
0.306 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
5.065 |
12.079 |
7.172 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
24.760 |
30.337 |
28.266 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
868.256 |
339.368 |
456.178 |
|
(c)
Trade receivables |
205.884 |
61.838 |
38.321 |
|
(d)
Cash and cash equivalents |
577.696 |
80.892 |
210.561 |
|
(e)
Short-term loans and advances |
177.484 |
117.763 |
95.787 |
|
(f)
Other current assets |
504.489 |
193.291 |
281.642 |
|
Total
Current Assets |
2333.809 |
793.152 |
1082.489 |
|
|
|
|
|
|
TOTAL |
2358.569 |
823.489 |
1110.755 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2461.530 |
1577.870 |
1244.870 |
|
|
|
Other Income |
23.990 |
24.050 |
20.550 |
|
|
|
TOTAL |
2485.520 |
1601.920 |
1265.420 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2572.460 |
1636.570 |
1266.030 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(86.940) |
(34.650) |
0.610 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(86.940) |
(34.650) |
0.610 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Reimbursement of Expenses |
24.685 |
29.646 |
16.991 |
|
|
|
Warranty Claim |
3.994 |
1.991 |
2.844 |
|
|
|
Export of Goods |
17.873 |
61.750 |
0.664 |
|
|
TOTAL EXPORT |
46.552 |
93.387 |
20.499 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
1884.591 |
1060.668 |
895.202 |
|
|
|
Spare Parts |
179.821 |
71.427 |
72.363 |
|
|
TOTAL IMPORTS |
2064.412 |
1132.095 |
967.565 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(4.00) |
(1.73) |
0.03 |
|
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 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(3.53) |
(2.20) |
0.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.69) |
(4.21) |
0.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.36) |
(1.33) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.00 |
1.04 |
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 |
200.000 |
200.000 |
500.000 |
|
Reserves & Surplus |
(139.312) |
(173.965) |
(260.910) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
60.688 |
26.035 |
239.090 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1244.870 |
1577.870 |
2461.530 |
|
|
|
26.750 |
56.003 |
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 |
1244.870 |
1577.870 |
2461.530 |
|
Profit |
0.610 |
(34.650) |
(86.940) |
|
|
0.05% |
(2.20%) |
(3.53%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
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 |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
BACKGROUND
The Company was incorporated on December 5, 2008 under The Companies Act, 1956 to carry on the business of trading in Agricultural Machineries. The Company is promoted by Kubota Corporation of Japan ("holding company") Sumitomo Corporation of Japan and Sumitomo Corporation Asia Pte. Limited with the investment ratio of 60:36:4 respectively.
PERFORMANCE
The Company has completed its fifth year of operations during which resources have been further deployed to facilitate the long term sustenance and growth of the Company.
For the year ended March 31, 2014, the company has achieved total revenue of Rs.2.48 billion and has incurred a net loss of Rs.86.940 million. The same figures during the period ended March 31, 2013 were Rs.1.60 billion and a net loss of Rs.34.650 million respectively.
The directors are pleased to note that the total income of the company increased by 55% over last year with Tractor Sales going up by 66%, Harvester by 110% and decrease of Rice Planter sales by 27%. However as the company is highly import dependent company, the Rupee depreciation by10% from last year closing has put high pressure on the operating margins resulting in a loss during the year.
FUTURE OUTLOOK:
The Indian economy grew at decade low of less than 5% this year. However, with the advent of a stable government, the economy is expected to perform better next year with a turnaround in macro and micro situation.
Tractor sales is expected to grow during the year, as the company introduced new models last year, which come with multiple applications and solutions. Combine Harvester sales could see a growth during the year with the introduction of new model and increase in network for the company. Rice Planter sales could be stagnant due to long lasting drought in situation in TN and slow institutional sales.
Strategically the company continues to concentrate its sales efforts in many Indian States with plan to expand network in the central region and has increased its penetration by appointing more dealers, as dealer network has crossed 100 and more new dealers in the offing.
The directors also thank the shareholders who have confirmed their continued support by infusing additional capital of Rs.300.000 million during the Financial Year.
FIXED ASSETS:
·
Plant and Equipment
·
Other plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipment’s
·
Other Equipment’s
·
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,
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.64.15 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.72.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.