MIRA INFORM REPORT
|
Report No. : |
343686 |
|
Report Date : |
05.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HORIBA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.246, Okhla Industrial Estate, Phase-III, New Delhi – 110020 |
|
Tel. No.: |
91-11-46695001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2014 |
|
|
|
|
Date of
Incorporation : |
07.09.2006 |
|
|
|
|
Com. Reg. No.: |
55-153232 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 33.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73100DL2006PTC153232 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH05764D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH7371R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Pollution Control Equipments, Environmental Analyzer,
Medical Instruments and Provision of Marketing and support services in relation
to engineering, Installation, Commissioning and Maintenance thereto. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated during the year 2006
having moderate track. It is wholly owned subsidiary of Horiba Limited, Japan and it is
engaged in providing precision equipment for measuring and analysis. The company has incurred huge operational loss during FY 2014. Also,
it has huge external borrowings which may act as a threat to its liquidity. However, trade relations seem to be fair. Business is active. Payment
terms are reported to be slow but correct. In view of strong holding support, 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
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
31-03-2015.
LOCATIONS
|
Registered Office : |
Plot No. 246, Okhla Industrial Estate, Phase – III, New Delhi –
110020, India |
|
Tel. No.: |
91-11-46695001/ 46465000 |
|
Fax No.: |
91-11-46695010/ 46465020 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 26, Sector-7, IIE, SIDCUL, Haridwar - 249403, Uttarakhand, India |
|
Tel. No.: |
91-1334-239139 |
|
|
|
|
Bangalore Office : |
Kamadhenu, No.17/1 - 32, Bannerghatta Road, Audugodi, Bangalore – 560030, Karnataka, India |
|
Tel. No.: |
91-80-22210071 |
|
|
|
|
Chennai Office : |
The Ground Floor New No. 41, Old No. 15/3, Velachery Road,
Little Mount, Saidapet, Chennai – 600015,
Tamilnadu, India |
|
Tel. No.: |
91-44-42077899 |
|
|
|
|
Pune Office : |
502, 5th Floor, Purushottam Plaza, Baner Road, Baner, Pune – 411045, Maharashtra, India |
|
Tel. No.: |
91-20-40766000 |
|
Fax No.: |
91 20 40766010 |
DIRECTORS
AS ON 24.06.2014
|
Name : |
Yuichi Muroga |
|
Designation : |
Director |
|
Address : |
Room 1001, Favir Shijo Nishinoton 466 Toroyama Cho Nishikikoji Sagaru,
Nishinoton Dori, Nakagyo Ku Kyoto Shi Japan 00802 |
|
Date of Birth/Age : |
07.08.1951 |
|
Date of Appointment : |
14.09.2006 |
|
DIN No.: |
00899059 |
|
|
|
|
Name : |
Takeshi Fukushima |
|
Designation : |
Director |
|
Address : |
2-11-7 Chome, Nomura, Kusatsu, Shiga 5250027, Japan |
|
Date of Birth/Age : |
12.07.1966 |
|
Date of Appointment : |
21.09.2011 |
|
DIN No.: |
03560868 |
|
|
|
|
Name : |
Mr. Rajeev Gautam |
|
Designation : |
Whole-time director |
|
Address : |
131, Mandakini Enclave, New Delhi - 110019, India |
|
Date of Birth/Age : |
09.10.1964 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
02075157 |
|
|
|
|
Name : |
Mr. Jai Krishan Hakhu |
|
Designation : |
Director |
|
Address : |
16481 S Kennedy Road, Los Gatos, CA 95030, United States of America |
|
Date of Birth/Age : |
09.07.1947 |
|
Date of Appointment : |
21.09.2011 |
|
DIN No.: |
03560907 |
|
|
|
|
Name : |
Takashi Nagano |
|
Designation : |
Director |
|
Address : |
32-2, Takata-Cho, Saiin, Ukyo-Ku, Kyoto 6150031, Japan |
|
Date of Birth/Age : |
13.04.1962 |
|
Date of Appointment : |
21.09.2011 |
|
DIN No.: |
03560917 |
MAJOR SHAREHOLDERS
AS ON 24.06.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Horiba Limited, Japan |
3321000 |
99.43 |
|
Horiba Instruments Singapore Pte Limited, Singapore |
19000 |
0.57 |
|
|
|
|
|
Total |
3340000 |
100.00 |
AS ON 24.06.2014
Equity Share Breakup
|
Category |
% of Holding |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Pollution Control Equipments, Environmental Analyzer, Medical
Instruments and Provision of Marketing and support services in relation to
engineering, Installation, Commissioning and Maintenance thereto. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
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Exports : |
Not Available |
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|
|
|
Imports : |
Not Available |
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|
|
|
Terms : |
Not Available |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building No. 10, Tower B, DLF Cyber City – 2, Gurgaon –
122002, Haryana, India |
|
Tel. No.: |
91-124-6792000 |
|
Fax No.: |
91-124-6792012 |
|
PAN No.: |
AABFD2095B |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
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Collaborators : |
Not Divulged |
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|
|
|
Holding Company : |
Horiba Limited, Japan |
|
|
|
|
Other related parties with whom the Company had transaction
Enterprises under common control : |
· Horiba ABX SAS, France · Horiba Europe GmbH, Germany · Horiba Techno Service Co. Limited, Japan · Horiba Europe Automation Division GmbH, Germany · Horiba International Corporation, USA · Horiba Thai, Thailand · Horiba ABX IBERICA, Italy · Horiba Instruments Incorporated, USA · Horiba Jobin Yvon IBH Limited · Horiba Jobin Yvon SAS, France · Horiba Test Automation, UK · Horiba UK Limited, UK |
|
|
·
|
CAPITAL STRUCTURE
AS ON 24.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,340,000 |
Equity Shares |
Rs. 10/- each |
Rs. 33.400 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
33.400 |
25.400 |
25.400 |
|
(b) Reserves & Surplus |
15.526 |
0.256 |
117.816 |
|
(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) |
48.926 |
25.656 |
143.216 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
105.800 |
144.200 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
6.859 |
6.759 |
4.481 |
|
(d) long-term provisions |
13.334 |
8.813 |
5.533 |
|
Total Non-current
Liabilities (3) |
125.993 |
159.772 |
10.014 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
332.930 |
168.000 |
177.700 |
|
(b) Trade
payables |
92.372 |
103.341 |
134.460 |
|
(c) Other
current liabilities |
83.769 |
64.392 |
43.333 |
|
(d) Short-term
provisions |
2.266 |
2.095 |
1.377 |
|
Total Current
Liabilities (4) |
511.337 |
337.828 |
356.870 |
|
|
|
|
|
|
TOTAL |
686.256 |
523.256 |
510.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
235.717 |
207.591 |
80.390 |
|
(ii)
Intangible Assets |
18.008 |
2.833 |
1.529 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
57.467 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
7.149 |
|
(d) Long-term Loan and Advances |
88.847 |
38.635 |
30.167 |
|
(e) Other
Non-current assets |
2.093 |
0.665 |
0.725 |
|
Total Non-Current
Assets |
344.665 |
249.724 |
177.427 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
85.371 |
110.994 |
123.089 |
|
(c) Trade
receivables |
159.846 |
120.708 |
123.956 |
|
(d) Cash
and cash equivalents |
59.928 |
13.387 |
60.048 |
|
(e)
Short-term loans and advances |
34.157 |
25.459 |
20.157 |
|
(f) Other
current assets |
2.289 |
2.984 |
5.423 |
|
Total
Current Assets |
341.591 |
273.532 |
332.673 |
|
|
|
|
|
|
TOTAL |
686.256 |
523.256 |
510.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
644.712 |
663.280 |
508.078 |
|
|
|
|
Other Income |
16.531 |
0.914 |
10.165 |
|
|
|
|
TOTAL |
661.243 |
664.194 |
518.243 |
|
|
|
|
|
|
|
||
|
Less |
TOTAL EXPENSES |
665.111 |
733.826 |
484.149 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(3.868) |
(69.632) |
34.094 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
50.782 |
36.076 |
19.241 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
(54.650) |
(105.708) |
14.853 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
2.081 |
11.852 |
7.914 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
(56.731) |
(117.560) |
6.939 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export of Goods |
0.000 |
9.140 |
9.328 |
|
|
|
TOTAL EARNINGS |
0.000 |
9.140 |
9.328 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
252.607 |
369.280 |
297.540 |
|
|
|
|
Capital Goods |
6.852 |
3.114 |
44.703 |
|
|
|
TOTAL IMPORTS |
259.459 |
372.394 |
342.243 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
(16.99) |
(46.28) |
2.73 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
38.400 |
28.800 |
0.000 |
|
Cash generated from operations |
22.165 |
37.786 |
(6.757) |
|
Net cash flow from (used in) operating activities |
6.131 |
(82.851) |
29.760 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
(8.80) |
(17.72) |
1.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(7.96) |
(20.20) |
3.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.12) |
(4.12) |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
9.75 |
13.29 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.67 |
0.81 |
0.93 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
25.400 |
25.400 |
33.400 |
|
Reserves & Surplus |
117.816 |
0.256 |
15.526 |
|
Net
worth |
143.216 |
25.656 |
48.926 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
144.200 |
105.800 |
|
Short term borrowings |
177.700 |
168.000 |
332.930 |
|
Current Maturities of Long term debt |
0.000 |
28.800 |
38.400 |
|
Total
borrowings |
177.700 |
341.000 |
477.130 |
|
Debt/Equity
ratio |
1.241 |
13.291 |
9.752 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
508.078 |
663.280 |
644.712 |
|
|
|
30.547 |
(2.799) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
508.078 |
663.280 |
644.712 |
|
Profit |
6.939 |
(117.560) |
(56.731) |
|
|
1.37% |
(17.72%) |
(8.80%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The Registered Office
of the company has been shifted from 1212A, 1212B, 1213 and 1214, Hemkunt
Tower, Nehru Place, Delhi - 110019, India to the present address
w.e.f.10.12.2010.
UNSECURED LOANS:
|
Particulars |
31.12.2014 Rs. In Million |
31.12.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Term loan from bank |
105.800 |
144.200 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Loans repayable
on demand |
|
|
|
Working capital loan from banks |
213.300 |
168.000 |
|
Buyers credit |
119.630 |
0.000 |
|
|
|
|
|
Total |
438.730 |
312.200 |
NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Leasehold Land
· Buildings
· Plant and Machinery
· Medical Equipments
· Office Equipment
· Furniture and Fixture
· Vehicles
· Leasehold Improvements
· 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 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.65.55 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.