MIRA INFORM REPORT
|
Report No. : |
319753 |
|
Report Date : |
06.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
LINCOLN HELIOS (INDIA) LIMITED (w.e.f. 21.04.1994) |
|
|
|
|
Formerly Known
As : |
GRINDWELL LUBE LIMITED |
|
|
|
|
Registered
Office : |
Devanahalli Road, Off Old Madras Road, Bangalore – 560049, Karnataka |
|
Tel no. : |
91-80-28472727 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.02.1993 |
|
|
|
|
Com. Reg. No.: |
08-044269 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23200KA1993PLC044269 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRL00523F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL2061P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Subject is engaged in the business of designing and manufacturing
of centralized lubrication systems |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 |
|
Maximum Credit Limit : |
USD 3700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and decent profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
31-03-2014.
LOCATIONS
|
Registered Office/ Factory : |
Devanahalli Road, Off Old Madras Road, Bangalore – 560049, Karnataka,
India |
|
Tel. No.: |
91-80-28472727/ 28472424/ 30710000 |
|
Fax No.: |
91-80-28472566/ 30710001 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 11.09.2014
|
Name : |
Mr. Herbert Kannegiesser |
|
Designation : |
Director |
|
Address : |
Obligser Strasse, 54 , D – 40591, |
|
Date of Birth/Age : |
16.09.1950 |
|
Date of Appointment : |
01.01.1996 |
|
DIN No.: |
00716537 |
|
|
|
|
Name : |
Mr. Sandip Sen |
|
Designation : |
Managing Director |
|
Address : |
No.919, 3rd Cross, Kalyan Nagar, 1 Block, HRBR Layout, |
|
Date of Birth/Age : |
17.09.1956 |
|
Qualification : |
B.Tech(Hons),PGDM |
|
Date of Appointment : |
01.06.2001 |
|
DIN No.: |
00716708 |
|
|
|
|
Name : |
Mr. Shishir Shirish Joshipura |
|
Designation : |
Director |
|
Address : |
Flat No.A-7, ICS Colony, Shivaji Nagar, Pune – 411016, |
|
Date of Birth/Age : |
22.01.1962 |
|
Qualification : |
BE Mechanical, APM |
|
Date of Appointment : |
23.03.2011 |
|
DIN No.: |
00574970 |
|
|
|
|
Name : |
Robert Law Johnstone |
|
Designation : |
Director |
|
Address : |
14, Homefield Close, Copmanthorpe, York 0233 |
|
Date of Birth/Age : |
10.03.1958 |
|
Date of Appointment : |
02.05.2012 |
|
DIN No.: |
05267353 |
|
|
|
|
Name : |
Manohar Ramalingam |
|
Designation : |
Director |
|
Address : |
501, Shankari Apartments, 2 Main Anjaneya Nagar, BSK3 Stage, Bangalore
– 560085, Karnataka, India |
|
Date of Birth/Age : |
24.03.1956 |
|
Date of Appointment : |
07.03.2013 |
|
DIN No.: |
06511354 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 11.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
SKF Lubrication Systems Germany, GMBH |
|
999994 |
|
Lincoln Industries Corporation, USA |
|
1 |
|
Sandip Sen |
|
1 |
|
Shishir Shirish Joshipura |
|
1 |
|
Robert Law Johnstone |
|
1 |
|
SKF Forvaltning AB, Sweden |
|
1 |
|
SKF International AB, Sweden |
|
1 |
|
|
|
|
|
Total |
|
1000000 |
As on 11.09.2014
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
%20LIMITED%20%20-%20319753%2006-May-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the business of designing and
manufacturing of centralized lubrication systems |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Tower D, 5th Floor, The Millenia, 1 and 2 Murphy Road,Ulsoor, Bangalore – 560008,Karnataka, India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Ultimate Holding
Company : |
AB SKF |
|
|
|
|
Holding Company : |
Lincoln Gmbh |
|
|
|
|
Fellow Subsidiary
Company : |
L29130MH1961PLC011980
U29195KA1997PTC027954
|
|
|
|
CAPITAL STRUCTURE
As on 11.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
1296.060 |
1145.640 |
1004.860 |
|
(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) |
1306.060 |
1155.640 |
1014.860 |
|
|
|
|
|
|
(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 |
17.390 |
24.430 |
21.940 |
|
Total
Non-current Liabilities (3) |
17.390 |
24.430 |
21.940 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
218.360 |
140.510 |
241.780 |
|
(c) Other current liabilities |
52.560 |
74.350 |
95.420 |
|
(d) Short-term provisions |
4.160 |
5.310 |
23.710 |
|
Total
Current Liabilities (4) |
275.080 |
220.170 |
360.910 |
|
|
|
|
|
|
TOTAL |
1598.530 |
1400.240 |
1397.710 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
259.020 |
266.610 |
170.580 |
|
(ii) Intangible Assets |
0.640 |
2.050 |
3.560 |
|
(iii) Capital work-in-progress |
21.110 |
8.720 |
3.090 |
|
(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) |
22.860 |
28.630 |
30.670 |
|
(d) Long-term Loan and Advances |
15.090 |
16.170 |
102.090 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.160 |
|
Total
Non-Current Assets |
318.720 |
322.180 |
310.150 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
253.190 |
250.000 |
384.690 |
|
(c) Trade receivables |
381.240 |
353.690 |
402.990 |
|
(d) Cash and cash equivalents |
586.790 |
433.970 |
221.040 |
|
(e) Short-term loans and
advances |
40.030 |
29.270 |
71.180 |
|
(f) Other current assets |
18.560 |
11.130 |
7.660 |
|
Total
Current Assets |
1279.810 |
1078.060 |
1087.560 |
|
|
|
|
|
|
TOTAL |
1598.530 |
1400.240 |
1397.710 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1101.370 |
1176.120 |
1407.280 |
|
|
Other Income |
72.350 |
40.910 |
22.330 |
|
|
TOTAL
(A) |
1173.720 |
1217.030 |
1429.610 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
539.650 |
534.390 |
710.040 |
|
|
Purchases of Stock-in-Trade |
22.620 |
26.980 |
19.970 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.380 |
78.100 |
(49.010) |
|
|
Employees benefits expense |
158.280 |
158.700 |
161.450 |
|
|
Other expenses |
205.770 |
192.400 |
221.580 |
|
|
TOTAL
(B) |
926.700 |
990.570 |
1064.030 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
247.020 |
226.460 |
365.580 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
247.020 |
226.460 |
365.580 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
9.670 |
8.860 |
10.610 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
237.350 |
217.600 |
354.970 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
86.930 |
76.820 |
121.810 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
150.420 |
140.780 |
233.160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
120.320 |
99.900 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
150.42 |
140.78 |
233.16 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
13.66 |
11.97 |
16.57 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
22.43 |
19.25 |
25.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.27 |
15.97 |
26.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.19 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.65 |
4.90 |
3.01 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
1004.860 |
1145.640 |
1296.060 |
|
Net
worth |
1014.860 |
1155.640 |
1306.060 |
|
|
|
|
|
|
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 |
%20LIMITED%20%20-%20319753%2006-May-2015_files/image015.gif)
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 |
1407.280 |
1176.120 |
1101.370 |
|
|
|
(16.426) |
(6.356) |
%20LIMITED%20%20-%20319753%2006-May-2015_files/image017.gif)
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 |
1407.280 |
1176.120 |
1101.370 |
|
Profit |
233.160 |
140.780 |
150.420 |
|
|
16.57% |
11.97% |
13.66% |
%20LIMITED%20%20-%20319753%2006-May-2015_files/image019.gif)
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 |
Yes |
|
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 |
No |
Note:
Registered office of the company has been shifted from Army and
Navy Building 148 M.G. Road, Mumbai – 400001, Maharashtra, India India to the
present address w.e.f.22.08.2007
GENERAL INFORMATION
Subject is incorporated on 11 February 1993 as Grindwell Lube Limited and subsequently changed the name to Lincoln Helios (India) Limited in the year 1994. The company is a subsidiary of Lincoln GMBH, Germany. The ultimate holding company is AB SKF, Sweden. The company is engaged in the business of designing and manufacturing of centralized lubrication systems.
OPERATIONS:
Total turnover during the year 2013- 2014 were Rs. 1,101.370 Million, 6.36% down as compared to previous year. Profit before tax was Rs. 237.350 Million or 21.55% of net sales, as compared to prior year's Rs. 217.600Million or 18.50% of net sales. Earnings per share have increased to Rs. 150.42 per share during the year as compared to Rs.140.78 per share in the previous year.
In 2012-13, Company has executed large project order of 145.000 Million INR of Oil Circulation & Air Oil systems in Steel Industry. Excluding this one off project orders, sales have increased by 7% from previous year.
2013-14 generally was very challenging as the production levels of Company's major customers have remained in lower levels. However, Company's market share with its top customers remained at comparable levels of previous year.
OUTLOOK
The Company will continue to drive strategies that will be customer-centric to capture growth opportunities. They will continue to build capabilities to meet the market demands and further consolidate our position. The Company is confident that year 2014-15 will bring newer opportunities and is well positioned to leverage the same.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10464602 |
07/11/2013 |
230,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD |
NO 7, M.G.ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B91305706 |
|
2 |
10196615 |
11/11/2009 |
83,000,000.00 |
BANK OF BARODA |
M. G. ROAD BRANCH, P. B. NO. 5010, BLUEMOON COMP, NO. 66, M. G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
A75943191 |
FIXED ASSETS
Tangible Assets
- Land
- Leasehold Improvement
- Plant and Machinery
- Computers
- Office Equipment
- Furniture and Fixture
- Vehicles
Intangible Assets
- 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,
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.63.58 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
64 |
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.