MIRA INFORM REPORT
|
Report No. : |
323958 |
|
Report Date : |
26.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDIA JAPAN LIGHTING PRIVATE LIMITED |
|
|
|
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Registered Office : |
Aalim Centre, 82, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600 004,
Tamilnadu |
|
Tel No.: |
91-44-28110063 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
27.12.1996 |
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Com. Reg. No.: |
18-037208 |
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Capital Investment / Paid-up Capital : |
Rs.1100.000 Million |
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|
|
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CIN No.: [Company
Identification No.] |
U40109TN1996PTC037208 |
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|
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEI04150G |
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PAN No.: [Permanent
Account No.] |
AAACI2673L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is engaged in the business of Manufacturing
Automotive Lighting Equipments and Allied Products. |
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No. of Employees: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 640000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a 50:50 joint venture between Lucas TVS and Koito. It is an established company having moderate track record. There
appears huge accumulated losses recorded by the company. The external
borrowings seems to be huge. However, the company gets strong support from its Joint Venture
Partners. Trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. In view of adequate market position and the support that it receives
from its parents, the company can be considered for business dealings 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
|
Rating Agency Name |
CRISIL |
|
Rating |
BB [Long Term] |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial
obligations. |
|
Date |
01.07.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ [Short Term] |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
01.07.2014 |
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 DECLINED BY
|
Name : |
Mr. Ram Triyan |
|
Designation : |
Accountant |
|
Contact No.: |
91-44-39106213 |
|
Date : |
25.05.2015 |
LOCATIONS
|
Registered Office : |
Aalim Centre, 82, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600
004, |
|
Tel. No.: |
91-44-28110063 / 28110074 |
|
Fax No.: |
91-44-28115624 |
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E-Mail : |
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|
|
|
|
Factory : |
No. 1, Puduchathram, (Via) Tirumazhisai, Thiruvellore High Road,
Chennai – 601107, India |
DIRECTORS
As on 14.08.2014
|
Name : |
Mr. Tirumala Kumara Balaji |
|
Designation : |
Director |
|
Address : |
34, |
|
Date of Birth/Age : |
12.07.1948 |
|
Date of Appointment : |
27.12.1996 |
|
Din No.: |
00002010 |
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|
|
|
Name : |
Mr. Krishnavilasam Raghavan Anandakumaran Nair |
|
Designation : |
Director |
|
Address : |
7, |
|
Date of Birth/Age : |
01.12.1939 |
|
Date of Appointment : |
27.12.1996 |
|
Din No.: |
00301904 |
|
|
|
|
Name : |
Mr. Arvind Balaji |
|
Designation : |
Director |
|
Address : |
34, |
|
Date of Birth/Age : |
08.12.1974 |
|
Date of Appointment : |
16.06.2006 |
|
Din No.: |
00557711 |
|
|
|
|
Name : |
Hiroshi Mihara |
|
Designation : |
Director |
|
Address : |
2-2-9, Kitamgome Ohtaku, |
|
Date of Birth/Age : |
19.02.1955 |
|
Date of Appointment : |
10.09.2005 |
|
Din No.: |
01733142 |
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|
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|
Name : |
Miyazawa Kenji |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Shera Gardens, No.2, Door No.4A, 4th Floor, Appa Garden
Street, Kilpauk, Chennai – 600010, Chennai – 600010, Tamilnadu, India |
|
Date of Birth/Age : |
25.04.1945 |
|
Date of Appointment : |
26.12.2011 |
|
Din No.: |
05313356 |
|
|
|
|
Name : |
Mr. Megumi Iwanabe |
|
Designation : |
Nominee Director |
|
Address : |
B-3, 804, Uniworld City, West Sector – 30, Gurgaon – 122001, Haryana,
India |
|
Date of Birth/Age : |
22.09.158 |
|
Date of Appointment : |
14.08.2014 |
|
Din No.: |
05322976 |
KEY EXECUTIVES
|
Name : |
Venkataramanan Thinniyam Vaidyanathan |
|
Designation : |
Secretary |
|
Address : |
New No. 27, Old No. 10, Vyasar Street, East Tambaram, Chennai-600059,
Tamilnadu, India |
|
Date of Birth/Age : |
25.05.1968 |
|
Date of Appointment : |
10.07.2006 |
|
Pan No.: |
AABPV1893K |
|
Name : |
Mr. Ram Triyan |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 14.08.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Koito Manufacturing Company Limited, |
55000000 |
50.00 |
|
Lucas TVS Limited, India |
45000000 |
40.91 |
|
Lucas Indian Services Limited, India |
10000000 |
9.09 |
|
TOTAL
|
110000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 14.08.2014
|
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 |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is engaged in the business of Manufacturing
Automotive Lighting Equipments and Allied Products. |
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Products : |
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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 : |
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 : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institute: |
Maruti Suzuki India Limited, 11 Th Floor Jeevan Prakash 25
Kasturba, Gandhi Marg, New Delhi - 110001, Delhi, India |
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Joint Venture : |
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CAPITAL STRUCTURE
AFTER 14.08.2014
Authorised Capital : Rs. 1900.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 1840.000
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
115000000 |
Equity Shares |
Rs.10/- each |
Rs.1150.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
110000000 |
Equity Shares |
Rs.10/- each
|
Rs.1100.000
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 |
1100.000 |
700.000 |
700.000 |
|
(b) Reserves & Surplus |
(877.567) |
(656.434) |
(447.543) |
|
(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) |
222.433 |
43.566 |
252.457 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
756.174 |
868.806 |
398.551 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
11.069 |
|
(c) Other long term
liabilities |
2.690 |
5.465 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
758.864 |
874.271 |
409.620 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
574.109 |
606.316 |
531.061 |
|
(b) Trade payables |
818.485 |
655.961 |
538.465 |
|
(c) Other current liabilities |
534.580 |
532.376 |
193.728 |
|
(d) Short-term provisions |
8.151 |
6.572 |
7.800 |
|
Total
Current Liabilities (4) |
1935.325 |
1801.225 |
1271.054 |
|
|
|
|
|
|
TOTAL |
2916.622 |
2719.062 |
1933.131 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1545.902 |
1140.593 |
1182.457 |
|
(ii) Intangible Assets |
12.822 |
10.155 |
5.478 |
|
(iii) Capital work-in-progress |
14.548 |
494.633 |
14.973 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
8.500 |
8.500 |
8.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
31.787 |
25.788 |
17.349 |
|
(e) Other Non-current assets |
19.375 |
1.219 |
2.031 |
|
Total
Non-Current Assets |
1632.934 |
1680.888 |
1230.788 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
341.091 |
196.849 |
244.104 |
|
(c) Trade receivables |
454.656 |
399.380 |
357.017 |
|
(d) Cash and cash equivalents |
5.768 |
111.866 |
3.956 |
|
(e) Short-term loans and
advances |
137.089 |
131.766 |
81.005 |
|
(f) Other current assets |
345.084 |
198.313 |
16.261 |
|
Total
Current Assets |
1283.688 |
1038.174 |
702.343 |
|
|
|
|
|
|
TOTAL |
2916.622 |
2719.062 |
1933.131 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
2422.300 |
|
|
|
Other Income |
|
|
|
|
|
TOTAL
(A) |
3392.100 |
2422.300 |
2257.600 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
(B) |
3232.700 |
2368.800 |
2110.700 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
159.400 |
53.500 |
146.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
169.400 |
100.000 |
102.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(10.000) |
(46.500) |
44.900 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
211.100 |
162.400 |
171.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(221.100) |
(208.900) |
(127.000) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(221.100) |
(208.900) |
(127.000) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(661.200) |
(452.300) |
(325.300) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(882.300) |
(661.200) |
(452.300) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(2.01) |
NA |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
250.719 |
229.771 |
140.021 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.64) |
(9.43) |
(6.65) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.99) |
(4.80) |
(0.50) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
7.11 |
39.13 |
4.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.66 |
0.58 |
0.55 |
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 |
700.000 |
700.000 |
1100.000 |
|
Reserves & Surplus |
-447.543 |
-656.434 |
-877.567 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
252.457 |
43.566 |
222.433 |
|
|
|
|
|
|
long-term borrowings |
398.551 |
868.806 |
756.174 |
|
Short term borrowings |
531.061 |
606.316 |
574.109 |
|
Current Maturities Of
Long-Term Debts |
140.021 |
229.771 |
250.719 |
|
Total
borrowings |
1069.633 |
1704.893 |
1581.002 |
|
Debt/Equity
ratio |
4.237 |
39.134 |
7.108 |
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 Income |
2257.600 |
2422.300 |
3392.100 |
|
|
|
7.295 |
40.036 |
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 Income |
2257.600 |
2422.300 |
3392.100 |
|
Profit |
(127.000) |
(208.900) |
(221.100) |
|
|
(5.63%) |
(8.62%) |
(6.52%) |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
INDIAN AUTOMOTIVE
INDUSTRY:
The domestic automotive industry registered a moderate growth of only 4% due to slow down of the Indian economy in FY 2013-14, increase in fuel prices and high interest rates. While the passenger vehicles and commercial vehicles segments posted negative growth of 4% and 20% respectively, and the two wheeler segment grew by 7%.
PERFORMANCE REVIEW
With the commissioning of the second plant in Chennai during the year, the company started supplies to Nissan Motor India Limited and Honda Motorcycles southern plant. With these new businesses and higher volumes of Honda Cars, overall sales grew by about 40% during the year. While the gross operating margin improved for the year, your Company incurred a loss due to the impact of additional depreciation and financing cost pertaining to the new plant that operated at less than 50% of its capacity due to lower off-take from the OEMs. It is hoped that with increase in capacity utilization of its plants, the Company would be in a position to improve its results in the years to come.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from banks |
162.917 |
268.643 |
|
Term loans from others |
146.842 |
127.063 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand |
340.000 |
340.000 |
|
Other loans and advances |
36.313 |
65.196 |
|
Total |
686.072 |
800.902 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED
|
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10400059 |
11/01/2013 |
440,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ |
B66918806 |
|
2 |
10127269 |
14/10/2008 |
39,000,000.00 |
MARUTI SUZUKI INDIA LIMITED |
11 TH FLOOR JEEVAN PRAKASH 25 KASTURBA, GANDHI |
A48781835 |
|
3 |
10127266 |
14/10/2008 |
72,500,000.00 |
MARUTI SUZUKI INDIA LIMITED |
11 TH FLOOR JEEVAN PRAKASH 25 KASTURBA, GANDHI |
A48781470 |
|
4 |
10071100 |
03/10/2007 |
70,200,000.00 |
MARUTI SUZUKI INDIA LIMITED. |
11 TH FLOOR JEEVAN PRAKASH 25 KASTURBA, GANDHI |
A24712481 |
|
5 |
10029508 |
20/07/2009 * |
770,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH , 155 ANNASALAI, CHENNA |
A67376921 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Office building
- Plant and equipment
- Furniture and fixtures
- 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.63.62 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
REK |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.