MIRA INFORM REPORT
|
Report No. : |
321069 |
|
Report Date : |
06.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
DAIMLER INDIA COMMERCIAL VEHICLES PRIVATE LIMITED (w.e.f. 17.06.2009) |
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Formerly Known
As : |
DAIMLER INDIA COMMERCIAL VEHICLES LIMITED (w.e.f. 27.05.2009) DAIMLER HERO COMMERCIAL VEHICLES LIMITED (w.e.f. 05.06.2008) FORTIUS MOTOR LIMITED |
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Registered
Office : |
SIPCOT Industrial Growth Centre, Oragadam, Mathur Post-Sriperumbudur Taluk,
District Kancheepuram – 602105, Tamilnadu |
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Tel. No.: |
91-44-49694000 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.12.2007 |
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Com. Reg. No.: |
18-072876 |
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Capital Investment
/ Paid-up Capital : |
Rs.39359.151 Million |
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CIN No.: [Company Identification
No.] |
U34200TN2007PTC072876 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHED07527C |
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PAN No.: [Permanent Account No.] |
AABCF1590N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Motor Vehicles. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
A (57) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 39000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track. There are accumulated losses recorded by the company. Rating
continuous to reflect strong managerial, operation and financial support that
receives from its parent company. Daimler AG. Rating also takes into
consideration strong operating capabilities of the company. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular. The company can be considered for business dealing 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long term rating=AA |
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Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
30.01.2015 |
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Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
30.01.2015 |
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
31-03-2014.
INFORMATION DENIED
Management Non Co-operative (91-44-49694000 / 45996000)
LOCATIONS
|
Registered Office : |
SIPCOT Industrial Growth Centre, Oragadam, Mathur Post-Sriperumbudur
Taluk, District Kancheepuram – 602105, Tamilnadu |
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Tel. No.: |
91-44-49694000 |
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Fax No.: |
91-44-49694881 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
Unit 201, 2nd Floor, Campus 3B, RMZ Millennia, Business Park, No.143,
Dr. MGR Road, Perungudi, Chennai – 600096, Tamilnadu, India. |
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Tel No.: |
91-44-45996000 |
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Fax No.: |
91-44-42853620 |
DIRECTORS
AS ON 27.08.2014
|
Name : |
Erich Karl Nesselhauf |
|
Designation : |
Managing Director |
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Address : |
LR Farm, 887, Meeran Nagar, Kanathur, Chennai - 603211, Tamil Nadu,
India |
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Date of Birth/Age : |
08.03.1963 |
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Date of Appointment : |
01.08.2014 |
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DIN No.: |
06879880 |
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Name : |
Albert Xaver Kirchmann |
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Designation : |
Director |
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Address : |
Rosenstrasse 10, Ostfildern, 73760, Germany |
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Date of Birth/Age : |
16.12.1956 |
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Date of Appointment : |
21.04.2008 |
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DIN No.: |
02159541 |
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Name : |
Stefan Erwin Buchner |
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Designation : |
Director |
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Address : |
Eichenweg 9, Tamm, 71732, Germany |
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Date of Birth/Age : |
18.01.1960 |
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Date of Appointment : |
21.04.2008 |
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DIN No.: |
02159549 |
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Name : |
Marc Llistosella Y Bischoff |
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Designation : |
Director |
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Address : |
Werastrasse 109, Stuttgart, 70190, Germany |
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Date of Birth/Age : |
12.03.1967 |
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Date of Appointment : |
19.06.2009 |
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DIN No.: |
02220265 |
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Name : |
Rainer Beckmann |
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Designation : |
Director |
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Address : |
Hintere Schafstrasse 8, Stuttgart, 70599, Germany |
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Date of Birth/Age : |
07.06.1962 |
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Date of Appointment : |
26.06.2013 |
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DIN No.: |
02371676 |
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Name : |
Frank Reintjes |
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Designation : |
Director |
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Address : |
Parlerstr. 31, Stuttgart, 70192,
Germany |
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Date of Birth/Age : |
23.04.1963 |
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Date of Appointment : |
18.03.2013 |
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DIN No.: |
06530269 |
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Name : |
Wolfgang Ludwig Bernhard |
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Designation : |
Director |
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Address : |
Mercedesstr 129, Stuttgart, 70372, Germany |
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Date of Birth/Age : |
03.09.1960 |
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Date of Appointment : |
26.06.2013 |
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DIN No.: |
06607158 |
MAJOR SHAREHOLDERS
AS ON 27.08.2014
|
Names of Shareholders |
No. of Shares |
|
Daimler AG, |
3935915070 |
|
Thirumalai Narayanan |
5 |
|
Stefan Buchner |
10 |
|
Marc Llistosella Y Bischoff |
5 |
|
Vijayabaskar G |
5 |
|
Wolfgang Ludwing Bernhard |
10 |
|
Parthasarathy Thota |
5 |
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|
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Total |
3935915110 |
Equity Share Break up (Percentage of Total Equity)
AS ON 27.08.2014
|
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 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Motor Vehicles. |
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Products : |
Motor Vehicles |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
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 : |
· Bank of America ·
Deutsche Bank · State Bank of India · HDFC Bank Limited · ICICI Bank Limited |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N M Joshi
Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India |
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PAN No.: |
AAIFB4734C |
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Collaborators : |
Not Divulged |
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Membership : |
Not Divulged |
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Holding and
Ultimate holding company : |
· Daimler AG, Germany |
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Fellow subsidiaries
: |
· Daimler Truck North America LLC, North America (DTNA) · Mercedes Benz Project Consult Gmbh, Germany (MBPC) · Mitsubishi Fuso Truck and Bus Corporation, Japan (MFTBC) · Mercedes Benz Turk A.S., Turkey (MB Turkey) · Mercedes - Benz do Brasil Ltda, Brazil (MB Brasil) · Mercedes Benz India Private Limited, India (MB India) · Daimler South East Asia Pte Limited, Singapore (DSEA) · Daimler Financial Service AG, Germany (DFS AG) · Daimler Financial Services India Private Limited, India (DFS India) · PT Mercedes Benz Distribution, Indonesia (PT Mercedes) · Mercedes Benz Research and Development Private Limited, India (MBRD) · Daimler International Assignment Service, USA (DIAS) · Mercedes Benz SA (Pty) Ltd, South Africa (MBSA) · Mercedes Benz US International Inc, USA (MBUS) · Mercedes Benz Passenger Car CA., USA (MB Passenger) · MB Tech Group Gmbh & Co., Germany (MB Tech) · Axle Alliance Company, USA (AAC) · Detroit Diesel Corporation, USA (DDC) · Evobus Gmbh, Germany (Evobus) |
CAPITAL STRUCTURE
AS ON 27.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
4000000000 |
Equity Shares |
Rs.10/- each |
Rs.40000.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
3935915110 |
Equity Shares |
Rs.10/- each |
Rs.39359.151 Million |
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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 |
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|
|
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(a) Share Capital |
39359.151 |
24177.756 |
17256.071 |
|
(b) Reserves & Surplus |
(25796.518) |
(12532.148) |
(2374.104) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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(2) Share Application money pending
allotment |
0.000 |
1797.718 |
0.000 |
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Total Shareholders’
Funds (1) + (2) |
13562.633 |
13443.326 |
14881.967 |
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
25828.309 |
19347.690 |
12291.699 |
|
(b) Deferred tax liabilities (Net) |
35.556 |
29.805 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
248.005 |
184.468 |
101.933 |
|
Total Non-current
Liabilities (3) |
26111.870 |
19561.963 |
12393.632 |
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(4)
Current Liabilities |
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|
|
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(a) Short term
borrowings |
5560.000 |
6385.963 |
1800.000 |
|
(b) Trade
payables |
4806.339 |
3434.412 |
1795.024 |
|
(c) Other
current liabilities |
1776.486 |
2267.584 |
2427.407 |
|
(d) Short-term
provisions |
267.802 |
60.571 |
19.058 |
|
Total Current Liabilities
(4) |
12410.627 |
12148.530 |
6041.489 |
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|
|
|
|
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TOTAL |
52085.130 |
45153.819 |
33317.088 |
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II.
ASSETS |
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|
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|
(1)
Non-current assets |
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|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
27750.662 |
24313.721 |
2302.901 |
|
(ii)
Intangible Assets |
6807.491 |
6918.896 |
102.131 |
|
(iii)
Capital work-in-progress |
2011.710 |
786.579 |
15926.543 |
|
(iv)
Intangible assets under development |
486.408 |
8.669 |
6524.158 |
|
(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 |
1906.685 |
2724.144 |
4668.391 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
38962.956 |
34752.009 |
29524.124 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4864.833 |
4817.513 |
613.912 |
|
(c) Trade
receivables |
1636.471 |
1076.787 |
438.870 |
|
(d) Cash
and cash equivalents |
855.120 |
843.319 |
479.867 |
|
(e)
Short-term loans and advances |
5763.499 |
3660.411 |
2259.945 |
|
(f) Other
current assets |
2.251 |
3.780 |
0.370 |
|
Total
Current Assets |
13122.174 |
10401.810 |
3792.964 |
|
|
|
|
|
|
TOTAL |
52085.130 |
45153.819 |
33317.088 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
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TOTAL REVENUE |
13625.000 |
5916.000 |
1553.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
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|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(10617.000) |
(8564.000) |
(1532.000) |
|
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|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
2647.000 |
1594.000 |
25.000 |
|
|
|
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|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(13264.000) |
(10158.000) |
(1557.000) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(13264.000) |
(10158.000) |
(1557.000) |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.54) |
(4.95) |
(1.15) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(26.75) |
(22.90) |
(14.33) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.98) |
(0.76) |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.31 |
1.91 |
0.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
0.86 |
0.63 |
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 |
17256.071 |
24177.756 |
39359.151 |
|
Reserves & Surplus |
(2374.104) |
(12532.148) |
(25796.518) |
|
Share Application money pending allotment |
0.000 |
1797.718 |
0.000 |
|
Net
worth |
14881.967 |
13443.326 |
13562.633 |
|
|
|
|
|
|
long-term borrowings |
12291.699 |
19347.690 |
25828.309 |
|
Short term borrowings |
1800.000 |
6385.963 |
5560.000 |
|
Total
borrowings |
14091.699 |
25733.653 |
31388.309 |
|
Debt/Equity
ratio |
0.947 |
1.914 |
2.314 |
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 |
1553.000 |
5916.000 |
13625.000 |
|
|
|
280.940 |
130.308 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Revenue |
1553.000 |
5916.000 |
13625.000 |
|
Profit |
(1557.000) |
(10158.000) |
(13264.000) |
|
|
(100.26%) |
(171.70%) |
(97.35%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS:
The year has been instrumental for the Company to deliver on its commitment to the Indian trucking industry and to Daimler Trucks. The manner in which the Indian market has received the BharatBenz range of trucks is very encouraging considering the economic trend. It only substantiates the brand claim Power ahead wherein our range of trucks powers our customers ahead in their business through differentiated experience and optimal cost of ownership. The success of BharatBenz is clearly reflected in the 10,000 number of units sold in two years of market introduction, a feat not seen in the Indian Commercial Vehicle Industry. The brand has also achieved number 4 position in the industry, underlining its commitment to realizing its vision of transforming the Indian trucking market.
During the year, total revenue increased to INR 13,625 Million from INR 5,916 Million in the previous year. The Company has made a loss of INR13, 264 Million after tax, as against a net loss after tax of INR 10,158 Million in the previous year. The accumulated losses of the Company at the end of the financial year ending 31 st March 2014 have resulted in erosion of more than fifty percent of its peak networth during the immediately preceding four financial years. The company is taking necessary steps to protect further erosion and will make a report to the Board for Industrial and Financial Reconstruction about such erosion of networth as envisaged under Section 23 of the Sick Industrial Companies (Special Provisions) Act, 1985. However, the parent Company Daimler AG is confident to keep the company viable and improve the financial position and viability of the Company in the years to come. Daimler AG has also provided Equity of INR 15,184 Million during the financial year 2013-2014.The financial situation of the Company will improve in the next years with complete product range and volumes in the market.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Term loans from others |
25828.309 |
19347.690 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Working capital loans from banks |
5560.000 |
5110.000 |
|
Loans repayable on demand from banks |
0.000 |
1275.963 |
|
|
|
|
|
Total |
5560.000 |
25733.653 |
NO
CHARGES EXIST FOR COMPANY.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 records 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.63.52 |
|
|
1 |
Rs.95.96 |
|
Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
57 |
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.