MIRA INFORM REPORT
|
Report No. : |
321868 |
|
Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
PANASONIC INDIA PRIVATE LIMITED (w.e.f. 03.10.2008) |
|
|
|
|
Formerly Known
As : |
PANASONIC SALES AND SERVICES INDIA PRIVATE LIMTIED |
|
|
|
|
Registered
Office : |
6th Floor, Spic Building, Annexe No.88, Mount Road, Guindy, Chennai –
600032, Tamilnadu |
|
Tel. No.: |
91-44-22301952 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.07.2006 |
|
|
|
|
Com. Reg. No.: |
18-060554 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7738.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51395TN2006PTC060554 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEP08735G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP9391B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing,
trading and marketing consumer electronics goods, automotive products and
welding equipment |
|
|
|
|
No. of Employees
: |
2000 (Approximately) (Office) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
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|
|
Comments : |
Subject is a subsidiary of “PANASONIC CORPORATION”, Japan. It is an
established company having satisfactory track record. With regards to Indian operations, the company has incurred huge
accumulated losses which has eroded net worth of the company. However, rating takes into consideration PANASONIC’s wide spared
business networks around the world backed by renowned brand name in
electronic segment and recognized in world’s fortune 500 companies. Panasonic brand valued at USD 9280 Million with enterprise value of
USD 30207 million. Rating also takes into account of strong financial and managerial to
Indian operations by Panasonic Corporation (Parent company) backed by its
well experience management team. Trade relations are reported as fair. Payments are reported to be
usually correct. In view of decent brand name and strong parent company support, the
company can be considered for business dealings at usual trade terms and
condition. |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Manish Solanki |
|
Designation : |
Marketing |
|
Contact No.: |
918879161065 |
|
Date : |
09.05.2015 |
LOCATIONS
|
Registered Office : |
6th Floor, Spic Building, Annexe No.88, Mount Road, Guindy, Chennai –
600032, Tamilnadu, India |
|
Tel. No.: |
91-44-22301952/ 61089300 |
|
Mob No.: |
91-8879161065 (Mr. Manish) |
|
Fax No.: |
91-44-22301951/ 61089899 |
|
E-Mail : |
|
|
Web |
|
|
Location: |
Owned |
|
|
|
|
Head Office/
Consumer Sales Division : |
1st Floor, ABW Tower, IFFCO Chowk, MG Road, Sector 25,
Gurgaon – 122001, Haryana, India |
|
Tel. No.: |
91-124-4596600/ 6770400 |
|
Fax No.: |
91-124-4596625 |
|
Location: |
Owned |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Daizo Ito |
|
Designation : |
Whole Time Director |
|
Address : |
15-10, 2-Chome Ueno-Higashi, Toyonaka City, Osaka – 5600013, Japan |
|
Date of Birth/Age : |
27.02.1959 |
|
Date of Appointment : |
30.10.2008 |
|
Din No.: |
02429688 |
|
|
|
|
Name : |
Mr. Naoyuki Kobayashi |
|
Designation : |
Director |
|
Address : |
Apartment No Ppg 284, Dlf Park, Place Dlf City, Phase 5, Gurgaon, 122002, Haryana, India |
|
Date of Birth/Age : |
03.06.1959 |
|
Date of Appointment : |
09.06.2014 |
|
Din No.: |
06892951 |
|
|
|
|
Name : |
Masaaki Hirano |
|
Designation : |
Director |
|
Address : |
Habitare Continental, H-34/5, Dlf, Gurgaon, 122002, Haryana, India |
|
Date of Birth/Age : |
16.03.1965 |
|
Date of Appointment : |
01.09.2014 |
|
Din No.: |
06961963 |
|
|
|
|
Name : |
Toru Hasegawa |
|
Designation : |
Director |
|
Address : |
F1/1101, Uniworld City East, Sector 30, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
08.12.1959 |
|
Date of Appointment : |
18.09.2013 |
|
Din No.: |
03533819 |
|
|
|
|
Name : |
Masaru Miki |
|
Designation : |
Director |
|
Address : |
Flat No C- 043, Park Place, Dlf City, Phase 5, Gurgaon, 122002, Haryana, India |
|
Date of Birth/Age : |
09.02.1969 |
|
Date of Appointment : |
29.09.2014 |
|
Din No.: |
06969115 |
|
|
|
|
Name : |
Mr. Manish Sharma |
|
Designation : |
Director |
|
Address : |
H. No. C-451, C Block, Gate No. 1 Sushant Lok-1, Gurgaon -122001, Haryana, India |
|
Date of Birth/Age : |
03.08.1972 |
|
Date of Appointment : |
18.09.2013 |
|
Din No.: |
06549914 |
KEY EXECUTIVES
|
Name : |
Shikha Srivastava |
|
Designation : |
Secretary |
|
Address : |
RZF-2/84, Street No.3, Mahavir Enclave-1, New Delhi – 110045, India |
|
Date of Birth/Age : |
22.08.1985 |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
BHRPS2071L |
|
|
|
|
Name : |
Mr. Manish Solanki |
|
Designation : |
Marketing |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Panasonic Holding (Netherland) BV, Netherland |
812800000 |
47.84 |
|
Panasonic Asia Pacific Pte. Limited, Singapore |
885999999 |
52.16 |
|
|
|
|
|
Total |
1698800000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
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 |
100.000 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing, trading
and marketing consumer electronics goods, automotive products and welding
equipment |
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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 : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and retailers
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No. of Employees : |
2000 (Approximately) (Office) |
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Bankers : |
Standard Chartered Bank, 19, Rajaji Salai, Chennai -
600001, Tamilnadu, India
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Facilities : |
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Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Building No.10, 8th Floor, Tower BDIF, Cyber City, Phase 2,
Mahatma Gandhi Road, Numgambakkam, Chennai-600034, Tamilnadu, India |
|
Tel. No.: |
91-44-39145000 |
|
Fax No.: |
91-44-39145999 |
|
Email: |
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PAN No: |
AAAFB9852F |
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|
|
|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding Company : |
Panasonic Corporation, Japan |
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Holding Company : |
Panasonic Asia Pacific Pte. Limited |
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|
|
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Fellow Subsidiary Company : |
U74899DL1996PLC077330
U31200MH1981FTC128292
L31400GJ1972PLC002091
|
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,698,800,000 |
Equity Shares |
Rs.10/- each |
Rs.16988.000 Million |
|
|
|
|
|
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
773800000 |
Equity Shares |
Rs.10/- each |
Rs.7738.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
773800000 |
Equity Shares |
Rs.10/- each |
Rs.7738.000 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 |
7738.000 |
7738.000 |
7738.000 |
|
(b) Reserves & Surplus |
(8677.704) |
(4864.110) |
(2422.023) |
|
(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) |
(939.704) |
2873.890 |
5315.977 |
|
|
|
|
|
|
(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 |
124.590 |
58.212 |
33.945 |
|
Total
Non-current Liabilities (3) |
124.590 |
58.212 |
33.945 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5900.000 |
4499.716 |
0.000 |
|
(b) Trade payables |
6372.516 |
6996.323 |
6800.312 |
|
(c) Other current liabilities |
729.824 |
2480.263 |
731.319 |
|
(d) Short-term provisions |
57.907 |
68.900 |
62.412 |
|
Total
Current Liabilities (4) |
13060.247 |
14045.202 |
7594.043 |
|
|
|
|
|
|
TOTAL |
12245.133 |
16977.304 |
12943.965 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3758.635 |
4123.438 |
1054.485 |
|
(ii) Intangible Assets |
93.791 |
128.128 |
23.489 |
|
(iii) Capital work-in-progress |
152.821 |
65.079 |
456.649 |
|
(iv) Intangible assets under
development |
16.136 |
13.153 |
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 |
333.796 |
413.713 |
746.649 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
4355.178 |
4743.511 |
2281.272 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3971.308 |
5515.286 |
4515.343 |
|
(c) Trade receivables |
2070.940 |
3257.754 |
3154.963 |
|
(d) Cash and cash equivalents |
345.775 |
830.279 |
2055.607 |
|
(e) Short-term loans and
advances |
576.886 |
482.134 |
284.325 |
|
(f) Other current assets |
925.045 |
2148.340 |
652.455 |
|
Total
Current Assets |
7889.955 |
12233.793 |
10662.693 |
|
|
|
|
|
|
TOTAL |
12245.133 |
16977.304 |
12943.965 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales of Products |
30731.368 |
31518.748 |
22938.371 |
|
|
|
Other Income |
37.653 |
59.423 |
167.152 |
|
|
|
TOTAL |
30769.021 |
31578.171 |
23105.523 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
34562.728 |
33811.538 |
24983.983 |
|
|
|
|
|
|
|
|
|
PRIOR
PERIOD ITEMS |
0.000 |
(181.139) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(3803.707) |
(2414.507) |
(1878.460) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.886 |
27.581 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(3813.593)
|
(2442.088) |
(1878.460) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(4.93) |
(3.16) |
(2.43)
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(12.41) |
(7.75) |
(8.19) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(31.50) |
(14.29) |
(15.04) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
4.05 |
(0.84) |
(0.35) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(6.28) |
1.57 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.60 |
0.87 |
1.40 |
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 |
7738.000 |
7738.000 |
7738.000 |
|
Reserves & Surplus |
(2422.023) |
(4864.110) |
(8677.704) |
|
Net worth |
5315.977 |
2873.890 |
(939.704) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
4499.716 |
5900.000 |
|
Total borrowings |
0.000 |
4499.716 |
5900.000 |
|
Debt/Equity ratio |
0.000 |
1.566 |
(6.279) |
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 |
22938.371 |
31518.748 |
30731.368 |
|
|
|
37.406 |
(2.498) |
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 |
22938.371 |
31518.748 |
30731.368 |
|
Profit/ loss |
(1878.460) |
(2442.088) |
(3813.593) |
|
|
(8.19%) |
(7.75%) |
(12.41%) |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
COMPANY OVERVIEW
Subject (the Company, formerly known as Panasonic Sales and Services India Private Limited) was incorporated on 14 July 2006. It is a fully owned subsidiary of Panasonic Asia Pacific Pte. Limited, Singapore. The Company is engaged in the business of manufacturing, trading and marketing consumer electronics goods, automotive products and welding equipment under the brand name Panasonic in India.
PERFORMANCE
The Company Sales for the year stood at Rs. 28072.700 million, out of which Sale of Service has increased by Rs. 18.558 Million as compared to the previous year. However, Company incurred a loss of Rs. 3813.593 Million which is in greater proportion as compared to loss of previous year. They apologize for any concern caused.
They have acted to extricate ourselves from this situation as soon as possible.
During the year, various programs were organized by the Company to make people aware about the new improved products of the Company, their importance in protecting our environment and in turn to the society as whole.
OPERATIONAL REVIEW
With the aim of achieving recovery, we launched Cross-Value Innovation 2015, a new 3-year midterm management plan. They are acting to speed up reforms with the aim of turning around its business results at the earliest possible stage and rebuilding its business competitiveness for the future. Since the founding of our Company in 1918, we have been carrying out all of their activities following their basic management philosophy, which commits us to making a contribution through their business operations to improving the lives of people around the world, and to the further progress of the society. They will pursue the concept of A Better Life A Better World, meeting the needs of each individual customer.
FUTURE PROSPECTS
The Panasonic has adopted and continues to focus on the overarching vision of becoming the No. 1 Green Innovation Company in the Electronics Industry, upto the 100th anniversary of its founding in 2018. In the last fiscal year, they have launched Green Transformation (GT 12), their three year mid-term management plan, as a first step towards realizing this vision.
For Panasonic, its important today is to become a company that can generate products and services with true value for customers by addressing the structural issues facing the group.
Since its founding, Panasonic has engaged in wide-ranging business activities
INDEX OF
CAHREGS: NO CHARGES EXIST FOR
COMPANY
UNSECURED LOAN
(Rs.
In Million)
|
Particular |
As on 31.03.2014 |
As on 31.03.2013 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
5900.000 |
3999.716 |
|
|
|
|
|
Total |
5900.000 |
3999.716 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
|
Claims against company not acknowledged as debt |
828.099 |
|
Total |
828.099 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Leasehold Improvements
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.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
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 |
|
44 |
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.