MIRA INFORM REPORT
|
Report No. : |
344639 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ACCUDYNE INDUSTRIES
INDIA PRIVATE LIMITED (w.e.f. 06.05.2015) |
|
|
|
|
Formerly Known
As : |
MILTONROY INDIA PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
Plot No. P45/1, Eighth Avenue, Domestic Tariff Area, Mahindra World
City, Chengalpet – 603002, Tamilnadu |
|
Tel. No.: |
91-44-71113111 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.10.1983 |
|
|
|
|
Com. Reg. No.: |
18-010379 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.614 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51102TN1983PTC010379 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacture and sale/trading of
metering and dosing pumps and systems. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
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 |
|
|
|
|
Comments : |
Subject is step down subsidiary of “Accudyne Industries GP Holdings
SCA”, Luxembourg. It is a well-established company having satisfactory track
record. The rating on company reflects strong financial and operational risk
profile, robust capital structure marked by its zero debt balance sheet
profile support by supported by healthy cash accruals. Further, rating takes consideration on company’s established track
record, the experience of the promoters and strong financial, managerial as
well as technical support from its holding company. Trade relations are fair. Business is active. Payment terms reported
to be usually correct. The company can be considered good for normal business dealing at its
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 – 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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sandeep |
|
Designation : |
Finance Department |
|
Contact No.: |
91-44-71113111 |
|
Date : |
13.10.2015 |
LOCATIONS
|
Registered Office / Factory : |
Plot No. P45/1, Eighth Avenue, Domestic Tariff Area, Mahindra World City,
Chengalpet – 603002, Tamilnadu, India |
|
Tel. No.: |
91-44-71113111 |
|
Fax No.: |
91-44-71113222 |
|
E-Mail : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
As on 31.10.2014
|
Name : |
Mr. Kenneth Oliver Butzer |
|
Designation : |
Director |
|
Address : |
124, Dill Avenue, Perkasie Pa, 18944, United States Of America |
|
Date of Birth/Age : |
17.09.1963 |
|
Date of Appointment : |
29.06.2012 |
|
DIN No.: |
05254784 |
|
|
|
|
Name : |
Mr. Bruno Dirringer |
|
Designation : |
Director |
|
Address : |
3690 Route De Neufchatel, Bois Guillaume - 76230, France |
|
Date of Birth/Age : |
27.12.1970 |
|
Date of Appointment : |
02.07.2010 |
|
DIN No.: |
03193698 |
|
|
|
|
Name : |
Mr. Ramlal Chetan Desai |
|
Designation : |
Managing Director |
|
Address : |
Villa 13, Phase 2, Egret Park, 148,, Near Anand Nagar, 9th Cross Street, Thoraipakkam, Chennai - 600097, Tamilnadu, India |
|
Date of Birth/Age : |
24.07.1970 |
|
Date of Appointment : |
21.12.2006 |
|
DIN No.: |
01957442 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
As on 31.10.2014
|
Names of Shareholders |
|
No. of Shares |
|
Accudyne Industries Asia Pte Limited, Singapore* |
|
146139 |
|
Silver II Guernsey Holdings Limited, UK |
|
1 |
|
Total |
|
146140 |
Note: *Name of the existing shareholder M2S Asia Industrial Pte Limited was change its name to Accudyne Industries Asia Pte Limited
As on 31.10.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacture and sale/trading of
metering and dosing pumps and systems. |
|
|
|
|
Products : |
Metering and Dosing Pumps and Systems |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Pumps |
|
Countries : |
|
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C, Cheque and Credit |
|
|
|
|
Purchasing : |
Cash, L/C, Cheque and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
Wholesalers and Retailers
|
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||||||||||||||||||||||
|
No. of Employees : |
80 (Approximately) |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Bangalore Chartered Accountants |
|
Address : |
8th Floor, Prestige Palladium Bayan, 129-140, Greams Road,
Chennai – 600006, Tamilnadu, India |
|
PAN No.: |
AAEFP5579P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company (As on 31.03.2014) : |
M2S Asia Industrial Limited, Singapore |
|
|
|
|
Ultimate Holding Company (As on 31.03.2014) : |
Accudyne Industries GP Holdings SCA, Luxembourg |
|
|
|
|
Enterprises having significant influence over the company : |
United Technologies International Corporation Asia Pte Limited, India
(till December 12, 2012) |
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.10.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
530000 |
Equity Shares |
Rs.100/- each |
Rs.53.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
146140 |
Equity Shares |
Rs.100/-
each |
Rs.14.614
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 |
14.614 |
14.614 |
12.000 |
|
(b) Reserves &
Surplus |
421.874 |
404.022 |
279.096 |
|
(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) |
436.488 |
418.636 |
291.096 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.400 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
7.384 |
|
(d) long-term provisions |
0.000 |
0.000 |
1.086 |
|
Total Non-current Liabilities
(3) |
0.000 |
0.000 |
8.870 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
95.000 |
|
(b) Trade payables |
177.721 |
121.907 |
85.399 |
|
(c) Other current
liabilities |
12.476 |
15.914 |
24.152 |
|
(d) Short-term provisions |
28.802 |
43.310 |
3.598 |
|
Total Current Liabilities
(4) |
218.999 |
181.131 |
208.149 |
|
|
|
|
|
|
TOTAL |
655.487 |
599.767 |
508.115 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
259.690 |
284.039 |
101.409 |
|
(ii) Intangible Assets |
0.332 |
0.591 |
0.839 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
164.558 |
|
(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) |
12.800 |
0.800 |
0.000 |
|
(d) Long-term Loan and Advances |
8.039 |
13.420 |
9.657 |
|
(e) Other Non-current
assets |
2.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
282.861 |
298.850 |
276.463 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
57.117 |
67.141 |
46.938 |
|
(c) Trade receivables |
190.324 |
133.200 |
126.486 |
|
(d) Cash and cash
equivalents |
102.971 |
81.852 |
40.558 |
|
(e) Short-term loans and
advances |
16.384 |
11.983 |
17.670 |
|
(f) Other current assets |
5.830 |
6.741 |
0.000 |
|
Total Current Assets |
372.626 |
300.917 |
231.652 |
|
|
|
|
|
|
TOTAL |
655.487 |
599.767 |
508.115 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
|
|
467.108 |
466.154 |
|
|
Other Income |
|
4.571 |
7.766 |
|
|
TOTAL |
NA |
471.679 |
473.920 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
235.692 |
239.780 |
|
|
Purchases of
Stock-in-Trade |
|
45.776 |
14.753 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(7.204) |
0.772 |
|
|
Employees benefits
expense |
|
25.919 |
29.392 |
|
|
Other expenses |
|
73.107 |
56.208 |
|
|
TOTAL |
NA |
373.290 |
340.905 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
NA |
98.389 |
133.015 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
NA |
7.780 |
1.768 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
NA |
90.609 |
131.247 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
19.516 |
6.142 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
67.942 |
71.093 |
125.105 |
|
|
|
|
|
|
|
Less |
TAX |
23.785 |
20.764 |
47.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
44.157 |
50.329 |
77.905 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
229.365 |
226.813 |
238.054 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
4.415 |
5.033 |
7.790 |
|
|
Dividend |
4.470 |
6.209 |
11.356 |
|
|
Tax on Dividend |
21.834 |
36.535 |
70.000 |
|
|
Total
|
30.719 |
47.777 |
89.145 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
242.803 |
229.365 |
226.813 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
43.790 |
38.087 |
53.138 |
|
|
Service Income |
17.730 |
19.536 |
0.889 |
|
|
TOTAL EARNINGS |
61.520 |
57.623 |
54.027 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
68.162 |
82.447 |
45.508 |
|
|
Stock in trade |
6.643 |
7.967 |
1.344 |
|
|
Traded Goods |
NA |
NA |
8.759 |
|
|
TOTAL IMPORTS |
74.805 |
90.414 |
55.611 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
302.15 |
394.00 |
649.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
75.437 |
NA |
NA |
|
Net cash flows from operating activities |
43.757 |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
10.77 |
16.71 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
NA
|
21.06 |
28.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.57 |
11.87 |
36.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.17 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70 |
1.66 |
1.11 |
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 |
12.000 |
14.614 |
14.614 |
|
Reserves & Surplus |
279.096 |
404.022 |
421.874 |
|
Net worth |
291.096 |
418.636 |
436.488 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
95.000 |
0.000 |
0.000 |
|
Total borrowings |
95.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.326 |
0.000 |
0.000 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
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 two 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note:
Registered address has been shifted from the 4, Rajarajan Stvisalakshi
Nagar, Ekkaduthangal – 600097, Tamilnadu, India to the present address w.e.f.
24.03.2012
GENERAL INFORMATION
Subject is a subsidiary of M2S Asia Industrial
Pte. Limited. The company is engaged in the business of manufacture and
sale/trading of metering/dosing pumps and systems.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10412675 |
04/04/2013 * |
97,000,000.00 |
ICICI BANK LIMITED |
NO 298, MADHARSHA TOWERS, THOUSAND LIGHTS, ANNA SALAI, MOUNT ROAD, CHENNAI - 600006, TAMILNADU, INDIA |
C12014999 |
|
2 |
90295498 |
17/12/1985 |
200,000.00 |
BANK OF INDIA |
MADRAS MAIN BRANCH; 17, ERRABBLU CHETTY STREET, MADRAS - 600001, TAMILNADU, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES
(Rs. In Million)
|
Particulars |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
Claims against the company not acknowledged as debts |
|
|
|
Excise Duty |
0.438 |
0.438 |
|
Total |
0.438 |
0.438 |
FIXED ASSETS
- Leasehold Land
- Building
- Plant and Machinery
- Computers
- Furniture and Fixtures
- Electrical Installations
- Office Equipments
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.65.02 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.73.91 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
KYP |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.