MIRA INFORM REPORT
|
Report No. : |
345040 |
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Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
FUCHS LUBRICANTS (INDIA) PRIVATE LIMITED |
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Registered
Office : |
Sarjan Plaza, 2nd Floor, 100, Dr. Annie Besant Road, Worli,
Mumbai - 400018, Maharashtra |
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Tel no.: |
91-22-66255900 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
21.09.1994 |
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Com. Reg. No.: |
11-129240 |
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Capital
Investment / Paid-up Capital : |
Rs.79.328
Million |
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|
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CIN No.: [Company Identification
No.] |
U99999MH1994FTC129240 |
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|
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IEC No.: |
0394065816 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCB0983D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is
engaged in blending, manufacturing and trading of lubricating oils, greases
and specialties. |
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|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated on 21st September, 1994. It is a
wholly owned subsidiary of FUCHS PETROLUB SE, Germany. It has fine track. The company possesses a healthy financial risk profile marked by
healthy networth base and good profitability. Further, the rating continues to derive strength from good and long
track record of operations and extensive experience of promoters. Trade relations are reported as fair. Business is active. Payment are
reported to be regular and as per commitments. In view of strong holding, the company can be considered normal for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mrs. Kavita Ajay Patkar |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-22-66255900 |
|
Date : |
13.10.2015 |
LOCATIONS
|
Registered Office/Corporate Head Office : |
Sarjan Plaza, 2nd Floor, 100, Dr. Annie Besant Road, Worli,
Mumbai-400018, Maharashtra, India |
|
Tel. No.: |
91-22-66255900/66661046-48 |
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Fax No.: |
91-22-66661049 |
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E-Mail : |
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Website : |
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|
|
|
Factory : |
Plot No. N-69, MIDC Additional, Ambernath Industrial Area, Ambernath (East),
Thane - 421506, Maharashtra, India |
|
Tel. No.: |
91-251-6482910 |
|
Fax No.: |
91-251-2621995 |
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|
|
|
Regional Office : |
Located At:
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DIRECTORS
As on 02.06.2014
|
Name : |
Mr. Phiroze Hilloo Kersi |
|
Designation : |
Managing Director |
|
Address : |
Forjett House, Forjett Street, Mumbai-400036, Maharashtra, India |
|
Date of Birth/Age : |
17.09.1957 |
|
Date of Appointment : |
01.08.2012 |
|
Din No.: |
00309968 |
|
|
|
|
Name : |
Dr. Eric Andreas Nerlinger |
|
Designation : |
Director |
|
Address : |
18, Emerald Hill Road, Singapore |
|
Date of Birth/Age : |
20.03.1969 |
|
Date of Appointment : |
09.10.2012 |
|
Din No.: |
06391027 |
KEY EXECUTIVES
|
Name : |
Mrs. Kavita Ajay Patkar |
|
Designation : |
Company Secretary |
|
Address : |
202, Tulip, Everest World, Kolshet Road, Thane (West) - 400607, Maharashtra, India |
|
Date of Appointment : |
01.09.2014 |
|
PAN No.: |
AVXPP2345K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
Fuchs Petrolub AG, Germany |
|
7932760 |
|
Fuchs Finanz Service GmbH, Germany |
|
40 |
|
TOTAL
|
|
7932800 |
Equity Share Break up (Percentage of Total Equity)
As on 02.06.2014
|
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 |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20345040_MIRA%2015-Oct-2015_files/image016.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged
in blending, manufacturing and trading of lubricating oils, greases and
specialties. |
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Products : |
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Brand Name: |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
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Holding company: |
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Fellow Subsidiary
Companies: |
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CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22325000 |
Equity Shares |
Rs.10/- each |
Rs.223.250 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7932800 |
Equity Shares |
Rs.10/- each
|
Rs.79.328
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 (15
Months) |
31.12.2013 (12
Months) |
31.12.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
79.328 |
79.328 |
79.328 |
|
(b) Reserves & Surplus |
401.899 |
339.378 |
310.638 |
|
(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) |
481.227 |
418.706 |
389.966 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
24.193 |
25.273 |
18.685 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.222 |
3.855 |
3.765 |
|
Total
Non-current Liabilities (3) |
29.415 |
29.128 |
22.450 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
286.286 |
373.894 |
335.593 |
|
(b) Trade payables |
133.658 |
109.831 |
120.374 |
|
(c) Other current liabilities |
70.583 |
61.509 |
49.986 |
|
(d) Short-term provisions |
4.202 |
1.815 |
1.233 |
|
Total
Current Liabilities (4) |
494.729 |
547.050 |
507.186 |
|
|
|
|
|
|
TOTAL |
1005.371 |
994.882 |
919.602 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
483.024 |
482.339 |
454.714 |
|
(ii) Intangible Assets |
5.348 |
17.437 |
27.065 |
|
(iii) Capital work-in-progress |
0.955 |
0.215 |
0.467 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.010 |
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
24.529 |
31.761 |
32.223 |
|
(e) Other Non-current assets |
0.479 |
0.179 |
0.074 |
|
Total
Non-Current Assets |
514.345 |
531.941 |
514.553 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
245.211 |
257.688 |
228.755 |
|
(c) Trade receivables |
224.937 |
186.465 |
161.816 |
|
(d) Cash and cash equivalents |
2.294 |
1.455 |
0.595 |
|
(e) Short-term loans and
advances |
18.408 |
17.258 |
13.755 |
|
(f) Other current assets |
0.176 |
0.075 |
0.128 |
|
Total
Current Assets |
491.026 |
462.940 |
405.049 |
|
|
|
|
|
|
TOTAL |
1005.371 |
994.882 |
919.602 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 (15
Months) |
31.12.2013 (12
Months) |
31.12.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
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TOTAL
|
1622.085 |
1130.111 |
1015.472 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1085.697 |
772.293 |
693.098 |
|
|
Overheads |
358.014 |
247.488 |
242.166 |
|
|
TOTAL
|
1443.711 |
1019.781 |
935.264 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
178.374 |
110.329 |
80.208 |
|
|
|
|
|
|
|
Less |
INTEREST
|
47.081 |
39.146 |
32.753 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
131.293 |
71.183 |
47.455 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
39.446 |
29.889 |
31.528 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
91.847 |
41.295 |
15.927 |
|
|
|
|
|
|
|
Less |
TAX |
29.327 |
12.554 |
8.928 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
62.520 |
28.741 |
6.999 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
109.995 |
38.873 |
12.494 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.78 |
0.36 |
0.08 |
%20PRIVATE%20LIMITED%20-%20345040_MIRA%2015-Oct-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20345040_MIRA%2015-Oct-2015_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20345040_MIRA%2015-Oct-2015_files/image005.gif){kind=small}
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 (15
Months) |
31.12.2013 (12
Months) |
31.12.2012 |
|
Current Maturities of Long term debt |
N.A |
N.A |
N.A |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
137.436 |
16.558 |
54.892 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin |
(%) |
3.85 |
2.54 |
0.69 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
11.00 |
9.76 |
7.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.14 |
4.15 |
1.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.10 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.59 |
0.89 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
0.85 |
0.80 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
79.328 |
79.328 |
79.328 |
|
Reserves & Surplus |
310.638 |
339.378 |
401.899 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
389.966 |
418.706 |
481.227 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
335.593 |
373.894 |
286.286 |
|
Total
borrowings |
335.593 |
373.894 |
286.286 |
|
Debt/Equity
ratio |
0.861 |
0.893 |
0.595 |
%20PRIVATE%20LIMITED%20-%20345040_MIRA%2015-Oct-2015_files/image018.gif)
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.12.2012 |
31.12.2013 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1015.472 |
1130.111 |
1622.085 |
|
|
|
11.289 |
43.533 |
%20PRIVATE%20LIMITED%20-%20345040_MIRA%2015-Oct-2015_files/image020.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2012 |
31.12.2013 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1015.472 |
1130.111 |
1622.085 |
|
Profit |
6.999 |
28.740 |
62.520 |
|
|
0.69% |
2.54% |
3.85% |
%20PRIVATE%20LIMITED%20-%20345040_MIRA%2015-Oct-2015_files/image022.gif)
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 |
NOTE: Registered office of the company has been shifted from Atur House 2NF, 87, Dr. Annie Besant Road, Worli, Mumbai – 40001, Maharashtra, India to the present address
COMPANY OVERVIEW
The Company incorporated on 21 September 1994 is a wholly owned subsidiary of Fuchs Petrolub SE, earlier known as Fuchs Petrolub AG, (the Holding Company), a limited liability company in Germany. The Company is engaged in blending, manufacturing and trading of lubricating oils, greases and specialities.
YEAR UNDER REVIEW, FUTURE
PLANS AND PROSPECTS
Inspite of the adverse economic climate prevalent in India in 2014, the company recorded a significant growth; turnover grew by 14% and EBIT by 28%. This growth trajectory is expected to continue in the near future; and this will in fact be strengthened by the company aggressively going after businesses in the OEM segment such as Shock Absorber Fluids.
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
CONTINGENT
LIABILITIES:
(Rs. In Million)
|
PARTICULARS |
31.03.2015 |
|
|
|
|
VAT and Central Sales Tax demands in appeal |
3.429 |
|
Income tax demands in appeal |
8.557 |
Notes:
For the Financial Year 2009-10, (assessment Year 2010-11), the Company had received a 'Draft Order ' from the Assessing Officer (AO) who had referred the case to the " Transfer Pricing Officer " (TPO) for "Arm’s Length Pricing". The TPO has proposed an adjustment of Rs 258.657 Million on account of under valuation of shares issued to "Fuchs Petrolub SE" in the said financial year. The said adjustment included interest of Rs. 20.684 Millionfor secondary adjustment. The Company has lodged an appeal with "Dispute Resolution Panel" (DRP) against the Order issued by the AO.
The DRP in its order dated 25 September 2014 has given relief to the extent of Rs. 20.684 Million for secondary adjustment to the Company. However, the DRP has upheld the share valuation done by the AO and directed the AO to complete the assessment accordingly
The Company believes that they are not liable to pay any amount on account of the said proposed adjustment and shall appeal against the revised order expected from the AO at Tribunal level.
During the year, the Company has paid SVB of Rs 3.543 MIllion under protest in compliance vide SVB Order Ref. No. 1147/ DC/ SVB/ AK/ 2012-13 dated 22 March 2013 which had increased the rate to 2.4% from 1%. The Company has appealed against the Order with the "Commissioner of Customs" for the relief. As the outcome of the appeal is awaited, there is an inherent uncertainty regarding the amount to be adjusted and accordingly no amount has been adjusted in this regard in the financial statement.
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Leasehold improvements
Intangible assets
- Computer software
- Commercial contractual rights
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.64.72 |
|
|
1 |
Rs.99.29 |
|
Euro |
1 |
Rs.73.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis
Done by : |
RAS |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
|
63 |
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.