MIRA INFORM REPORT
|
Report No. : |
345766 |
|
Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
LUBRIZOL INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, VIP House, 88-C, Old Prabhadevi Road, Mumbai – 400025,
Maharashtra |
|
Tel. No.: |
91-22-24300784 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2014 |
|
|
|
|
Date of
Incorporation : |
20.07.1966 |
|
|
|
|
Com. Reg. No.: |
11-013538 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.192.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201MH1966PTC013538 |
|
|
|
|
IEC No.: |
0388061251 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL0126H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Chemical
Additives, Polymers Additives, Organic Surface Active Agent-Additives etc. |
|
|
|
|
No. of Employees
: |
480 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is 50:50 joint venture between Lubrizol Corporation and Indian
Oil Corporation Limited. It is an established company incorporated in the year 1966 having
excellent track. Available financial indicates company robust financial risk profile marked
by healthy networth position along with comfortable liquidity position and
decent profit margin indicators of the company. The rating also takes into consideration rich experience of its
promoters, long established track record and strong operating efficiency of
the company. The company enjoys strong market position in Indian additive business
and also receives strong operational and financial support from its joint
venture entities. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. In view of the aforesaid, the company can be considered good for
normal 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 |
CRISIL |
|
Rating |
Long term rating =
AA- |
|
Rating Explanation |
High degree of safety
and carry low credit risk. |
|
Date |
October 10, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating =
A+ |
|
Rating Explanation |
Very strong degree
of safety and carry lowest credit risk. |
|
Date |
October 10, 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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. N. K. Kanwatia |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-24300784 |
|
Date : |
16.10.2015 |
LOCATIONS
|
Registered Office : |
2nd Floor, VIP House, 88-C, Old Prabhadevi Road, Mumbai – 400025,
Maharashtra, India |
|
Tel. No.: |
91-22-24300784 / 24300672/ 66255100 |
|
Fax No.: |
91-22-24300251 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
9/3, Thane-Belapur Road, Turbhe, Navi Mumbai – 400705, Maharashtra,
India |
|
Tel. No.: |
91-22-67759000 |
|
Fax No.: |
91-22-67759411 |
DIRECTORS
As on 23.04.2015
|
Name : |
Mr. Madhukar Ramniklal Kumbhani |
|
Designation : |
Managing director |
|
Address : |
99, Dariya Mahal B, 80, Nepean Sea Road, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
04.02.1950 |
|
Date of Appointment : |
01.10.2006 |
|
PAN No.: |
ADGPK4376P |
|
DIN No.: |
01902492 |
|
|
|
|
Name : |
Mr. Gyan Chand Daga |
|
Designation : |
Director |
|
Address : |
42, Casa Grande Little Gibbs Road, Malabar Mills, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
08.09.1951 |
|
Date of Appointment : |
28.11.2011 |
|
DIN No.: |
00101534 |
|
|
|
|
Name : |
Mr. David James Fries |
|
Designation : |
Director |
|
Address : |
2051, Ridgebury Drive, Painsville, OH – 44077 USA |
|
Date of Birth/Age : |
14.02.1959 |
|
Date of Appointment : |
22.07.2004 |
|
DIN No.: |
00655276 |
|
|
|
|
Name : |
Biswapriya Das |
|
Designation : |
Director |
|
Address : |
B4, Flat No. 202, 16/3 Mahindra Chloris Apartment, Sector ‐ 19, Faridabad – 121006, Haryana, India |
|
Date of Birth/Age : |
23.08.1956 |
|
Date of Appointment : |
01.07.2014 |
|
DIN No.: |
06869724 |
|
|
|
|
Name : |
Mr. John Louis Petric |
|
Designation : |
Director |
|
Address : |
9277 Regency Woods, Kirtland, OH, OHIO, 44094, United States of
America |
|
Date of Birth/Age : |
07.05.1951 |
|
Date of Appointment : |
11.06.2009 |
|
DIN No.: |
02703611 |
|
|
|
|
Name : |
Mr. Vishwa Nath Garg |
|
Designation : |
Director |
|
Address : |
R-236, Indian Oil Nagar, Andheri (West), J P Road, Mumbai – 400053, Maharashtra,
India |
|
Date of Birth/Age : |
03.03.1959 |
|
Date of Appointment : |
01.08.2013 |
|
PAN No.: |
AAAPG5671P |
|
DIN No.: |
06658776 |
|
|
|
|
Name : |
Darius Cavasji Shroff |
|
Designation : |
Alternate director |
|
Address : |
Moonlight, Flat No.8, 158, M. Karve Road, Churchgate, Mumbai – 400020,
Maharashtra, India |
|
Date of Birth/Age : |
08.08.1944 |
|
Date of Appointment : |
22.07.2004 |
|
DIN No.: |
00170680 |
|
|
|
|
Name : |
Mr. Vijay Kumar Gupta |
|
Designation : |
Alternate director |
|
Address : |
V-33, Green Park, Delhi – 110016, India |
|
Date of Birth/Age : |
04.06.1954 |
|
Date of Appointment : |
16.03.2012 |
|
DIN No.: |
03613222 |
KEY EXECUTIVES
|
Name : |
Mr. N. K. Kanwatia |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS
As on 23.04.2015
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Indian Oil Corporation Limited, India |
960000 |
50.00 |
|
The Lubrizol Corporation, United States of America |
960000 |
50.00 |
|
Total |
1920000 |
100.00 |
As on 23.04.2015
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Government Companies |
50.00 |
|
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 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Chemical
Additives, Polymers Additives, Organic Surface Active Agent-Additives etc. |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
|
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No. of Employees : |
480 (Approximately) |
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|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
557, JSS Road, 3rd Floor, China Bazar, Mumbai - 400002, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint Ventures : |
|
CAPITAL STRUCTURE
As on 23.04.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1920000 |
Equity Shares |
Rs.100/- each |
Rs.192.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1920000 |
Equity Shares |
Rs.100/- each |
Rs.192.000 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 |
192.000 |
192.000 |
192.000 |
|
(b) Reserves &
Surplus |
3804.789 |
3519.714 |
3005.668 |
|
(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) |
3996.789 |
3711.714 |
3197.668 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.064 |
0.062 |
0.055 |
|
(b) Deferred tax
liabilities (Net) |
37.914 |
44.893 |
39.795 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
4.441 |
|
(d) long-term provisions |
222.536 |
175.212 |
180.776 |
|
Total Non-current
Liabilities (3) |
260.514 |
220.167 |
225.067 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
906.016 |
763.448 |
499.392 |
|
(c) Other current
liabilities |
180.602 |
245.738 |
175.259 |
|
(d) Short-term provisions |
537.357 |
719.379 |
563.079 |
|
Total Current Liabilities
(4) |
1623.975 |
1728.565 |
1237.730 |
|
|
|
|
|
|
TOTAL |
5881.278 |
5660.446 |
4660.465 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1364.850 |
1125.070 |
1003.912 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
178.881 |
168.560 |
141.956 |
|
(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 |
0.000 |
|
(d) Long-term Loan and Advances |
202.476 |
141.628 |
113.770 |
|
(e) Other Non-current
assets |
7.165 |
1.665 |
1.665 |
|
Total Non-Current Assets |
1753.372 |
1436.923 |
1261.303 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2373.275 |
2485.546 |
1865.210 |
|
(c) Trade receivables |
1057.924 |
970.417 |
812.372 |
|
(d) Cash and cash
equivalents |
483.966 |
575.172 |
628.623 |
|
(e) Short-term loans and
advances |
210.049 |
189.442 |
87.090 |
|
(f) Other current assets |
2.692 |
2.946 |
5.867 |
|
Total Current Assets |
4127.906 |
4223.523 |
3399.162 |
|
|
|
|
|
|
TOTAL |
5881.278 |
5660.446 |
4660.465 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
SALES |
|
|
|
|
|
Gross Income |
9489.395 |
9444.234 |
8528.086 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1298.478 |
1935.664 |
1805.564 |
|
|
|
|
|
|
|
|
Less |
INTEREST COST |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1298.478 |
1935.664 |
1805.564 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
159.712 |
136.229 |
110.946 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1138.766 |
1799.435 |
1694.618 |
|
|
|
|
|
|
|
Less |
TAX |
391.520 |
611.498 |
553.138 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
747.246 |
1187.937 |
1141.480 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1000.135 |
604.883 |
581.713 |
|
|
|
|
|
|
|
Add |
Earlier year excess
proposed dividend and dividend distribution tax |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
74.725 |
118.794 |
114.148 |
|
|
Interim Dividend |
0.000 |
0.000 |
384.000 |
|
|
Tax on Interim Dividend |
0.000 |
0.000 |
62.294 |
|
|
Dividend |
0.000 |
576.000 |
480.000 |
|
|
Tax on Dividend |
0.000 |
97.891 |
77.868 |
|
|
Total |
74.725 |
792.685 |
1118.310 |
|
|
|
|
|
|
|
|
Balance Carried to the B/S
|
1672.656 |
1000.135 |
604.883 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
389.19 |
618.71 |
594.52 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1406.955 |
1337.174 |
2011.151 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT/ Gross Income) |
(%) |
7.87 |
12.58 |
13.38 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
13.68 |
20.50 |
21.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.97 |
32.77 |
37.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.48 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.54 |
2.44 |
2.75 |
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 |
192.000 |
192.000 |
192.000 |
|
Reserves & Surplus |
3005.668 |
3519.714 |
3804.789 |
|
Net worth |
3197.668 |
3711.714 |
3996.789 |
|
|
|
|
|
|
long-term borrowings |
0.055 |
0.062 |
0.064 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.055 |
0.062 |
0.064 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Gross Income |
8528.086 |
9444.234 |
9489.395 |
|
|
|
10.743 |
0.478 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Gross Income |
8528.086 |
9444.234 |
9489.395 |
|
Profit |
1141.480 |
1187.937 |
747.246 |
|
|
13.38% |
12.58% |
7.87% |
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 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
PERFORMANCE
Intense competition continues to result in pressure on margins. The Company’s Profit before tax is 37% below that in 2013. PBT is at a six year low due to relatively flat sales volume, eroding material margins and increasing operating costs. The Company made record capital expenditure in 2014 to upgrade its facilities.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.12.2014 |
As
on 31.12.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from directors |
0.064 |
0.062 |
|
Total |
0.064 |
0.062 |
FIXED ASSETS
- Land
- Buildings
- Office Building
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
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.64.96 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
81 |
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.