MIRA
INFORM REPORT
|
Report No. : |
345848 |
|
Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
LEAR AUTOMOTIVE INDIA PRIVATE LIMITED (w.e.f. 29.03.2006) |
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Formerly Known
As : |
LEAR SEATING PRIVATE LIMITED |
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Registered
Office : |
E-25, 26 and 27, Bhosari MIDC, Bhosari – 411026, |
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Tel No. : |
91-20-66123001 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.02.1996 |
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Com. Reg. No.: |
11-134085 |
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Capital
Investment / Paid-up Capital : |
Rs. 337.900 Million |
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CIN No.: [Company Identification
No.] |
U34300PN1996PTC134085 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELL02667A |
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PAN No.: [Permanent Account No.] |
AAACL1978K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the design, development and manufacture
of automotive seating, trims and wire harness |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum credit limits: |
USD 12000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1996 having
satisfactory track. Profit of the company has continuous declined over years. However,
networth position of the company is satisfactory. Liquidity position of the
company is decent. General financial position of the company is normal and acceptable for
business dealings. Trade relations are reported as fair. Business is active. Payments
terms are reported as slow but correct. In view of long track record and acceptable financial base, 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.
ECGC Count ry 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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
31-03-2013.
INFORMATION DENIED
Management non-cooperative (91-20-66123001)
LOCATIONS
|
Registered Office : |
E-25, 26 and 27, Bhosari MIDC, Saket District Centre, Saket,
Bhosari-411026, Maharashtra, India |
|
Tel. No.: |
91-20-66123005 / 66123425 / 66123001 |
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Fax No.: |
91-20-66123000 |
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E-Mail : |
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Website : |
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Corporate Office : |
Taj Palace Hotel, Suit No. 268, 2 LSP Marg, New Delhi-110021, India |
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Tel. No.: |
91-11-24104537 |
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Fax No.: |
91-11-24104547 |
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E-Mail : |
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Factory 1: |
Halol Highway Near Toll Naka, Halol-389350, Gujarat, India |
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Tel No.: |
91-2676-222700/222353/222600 |
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Factory 2: |
Gat No. 427, Hissa No. 6 to 9, Opposite, HP Gas Refilling, Mahalunge Ingale, MIDC Chakan, Taluka Khed, District Pune-410501, Maharashtra, India |
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Factory 3 : |
Also Located At: · Nashik · Chennai |
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Engineering Service Centre : |
Located At: · Mumbai · Pune |
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Branch Office : |
Located At: · Ahmedabad · Bengaluru · Chennai · Gurgaon · Hyderabad · Kolkata · Mumbai · New Delhi ·
Pune |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Amit Sharma |
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Designation : |
Director |
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Address : |
444, Pocket – A, Sarita Vihar, New Delhi-110 076, India |
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Date of Birth/Age : |
10.05.1979 |
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Qualification : |
B. Com, LLB |
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Date of Appointment : |
29.09.2010 |
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Din No.: |
02513254 |
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Other Directorship :
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Name : |
Mr. Dhaamodharan Raju |
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Designation : |
Managing Director |
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Address : |
501,Sheshadri Street, ECR, Utthandi Phase I, Chennai- 600119, Tamilnadu, India |
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Date of Birth/Age : |
19.05.1970 |
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Date of Appointment : |
01.10.2014 |
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DIN No.: |
02401889 |
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Other Directorship :
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Name : |
Mr. David Richard Smidt |
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Designation : |
Director |
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Address : |
31945, Cross Bow Ct, Beverly Hills, Michigan, 480253510, U.S.A. |
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Date of Birth/Age : |
20.02.1965 |
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Date of Appointment : |
29.09.2014 |
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DIN No.: |
06798188 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Yogesh Dattatraya Mase |
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Designation : |
Secretary |
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Address : |
501, Kashinath Apartment, Walvekar Nagar, Pune Satara Road, Behind
Walvekar Lawn, Pune – 411009, Maharashtra, India |
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Date of Birth/Age : |
06.04.1974 |
|
Date of Appointment : |
15.06.2009 |
|
PAN No.: |
AEKPM5727L |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Lear Corporation (Mauritius) Limited (Formerly Ramco
Investments Limited, Mauritius |
|
33788199 |
|
S. Bhalchandra Bhalerao (under beneficial Ownership of Lear Corporation (Mauritius) Limited, Mauritius) |
|
1 |
|
Anil Khanna (under beneficial Ownership of Lear corporation (Mauritius) Limited), Mauritius) |
|
1 |
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|
|
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Total |
|
33788201 |
As on 29.09.2014
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 design, development and
manufacture of automotive seating, trims and wire harness |
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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 : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
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 : |
·
Citibank, Pune Branch, Maharashtra, India |
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Auditors : |
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Name : |
S. R. Batliboi and Associates Chartered Accountants |
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Address : |
22 CAMAC Street, Block C, 3rd Floor, Kolkata - 700016, West Bengal , India |
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Tel. No.: |
91-20-66036000 |
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Fax No.: |
91-20-66015900 |
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PAN No: |
AABFS3421N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate holding
Company: |
Lear Corporation Inc. |
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Associate: |
Dymos Lear Automotive India Private Limited, India [U35900TN2007PTC065380] |
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Holding Company : |
Lear Corporation (Mauritius) Limited |
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Fellow Subsidiaries : |
·
Lear Automotive Corporation Singapore Private
Limited ·
Lear Automotive Services (Netherlands) BV ·
Lear Corporation GmbH ·
Lear Corporation South East Asia Company Limited ·
Tacle Automotive India Private Limited ·
Tacle Guanzhou Automotive Seat Company Limited ·
Tacle Seating (Thailand) Company Limited · Industrias Lear de Argentina S.R.L, Argentina · Lear Automotive (Thailand) Company Limited, Thailand |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33788201 |
Equity Shares |
Rs.10/- each
|
Rs.337.882
Million |
AS ON 29.09.2014
Authorised Capital : 350.000 Million
Issued, Subscribed & Paid-up Capital : Rs.339.117 Million
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.20112 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
337.900 |
326.100 |
313.200 |
|
(b) Reserves & Surplus |
3979.700 |
3154.800 |
2027.500 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
704.700 |
779.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4317.600 |
4185.600 |
3119.700 |
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
790.700 |
790.700 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
65.400 |
59.300 |
87.900 |
|
Total
Non-current Liabilities (3) |
856.100 |
850.000 |
87.900 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
3531.200 |
2887.600 |
2933.000 |
|
(c) Other current liabilities |
501.000 |
497.400 |
609.600 |
|
(d) Short-term provisions |
182.300 |
217.000 |
231.200 |
|
Total
Current Liabilities (4) |
4214.500 |
3602.000 |
3773.800 |
|
|
|
|
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TOTAL |
9388.200 |
8637.600 |
6981.400 |
|
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|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3044.900 |
2385.000 |
1486.600 |
|
(ii) Intangible Assets |
40.800 |
44.400 |
38.900 |
|
(iii) Capital work-in-progress |
204.500 |
639.000 |
287.000 |
|
(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) |
76.100 |
104.200 |
102.400 |
|
(d) Long-term Loan and Advances |
170.700 |
99.400 |
181.300 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
17.400 |
|
Total
Non-Current Assets |
3537.000 |
3272.000 |
2113.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1024.900 |
765.500 |
816.700 |
|
(c) Trade receivables |
3148.400 |
2951.200 |
2861.000 |
|
(d) Cash and cash equivalents |
781.700 |
717.400 |
394.900 |
|
(e) Short-term loans and
advances |
714.400 |
615.900 |
505.400 |
|
(f) Other current assets |
181.800 |
315.600 |
289.800 |
|
Total
Current Assets |
5851.200 |
5365.600 |
4867.800 |
|
|
|
|
|
|
TOTAL |
9388.200 |
8637.600 |
6981.400 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.20112 |
|
|
SALES |
|
|
|
|
|
Income |
14947.600 |
14236.776 |
11733.840 |
|
|
Other Income |
82.900 |
31.498 |
400.053 |
|
|
TOTAL
|
15030.500 |
14268.274 |
12133.893 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
14415.100 |
13415.485 |
11229.658 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
179.600 |
548.259 |
666.127 |
|
|
|
|
|
|
|
Less |
TAX |
47.000 |
187.108 |
207.793 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
132.600 |
361.151 |
458.334 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
132.600 |
361.151 |
458.334 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
2014.400 |
1856.245 |
1427.110 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Basic) |
3.97 |
11.20 |
14.42 |
|
|
Earnings
/ (Loss) Per Share (Diluted) |
3.97 |
11.19 |
14.60 |
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 |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
852.100 |
460.000 |
28.300 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.89 |
2.54 |
3.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.97 |
6.94 |
10.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.13 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.18 |
0.19 |
NA |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.49 |
1.29 |
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 |
313.200 |
326.100 |
337.900 |
|
Reserves & Surplus |
2027.500 |
3154.800 |
3979.700 |
|
Share application money
pending allotment |
779.000 |
704.700 |
0.000 |
|
Net
worth |
3119.700 |
4185.600 |
4317.600 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
790.700 |
790.700 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
790.700 |
790.700 |
|
Debt/Equity
ratio |
0.000 |
0.227 |
0.183 |
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) |
|
Sales |
11733.840 |
14236.776 |
14947.600 |
|
|
|
21.331 |
4.993 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
11733.840 |
14236.776 |
14947.600 |
|
Profit |
458.334 |
361.151 |
132.600 |
|
|
3.91% |
2.54% |
0.89% |
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
The registered office address of the company has been shifted from “206
and 206A, Rectangle – 1, D-4, Saket District Centre, Saket, New Delhi – 110017,
India” to the present address w.e.f. 27.05.2009.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Fully convertible debentures others |
790.700 |
790.700 |
|
|
|
|
|
Total |
790.700 |
790.700 |
CORPORATE INFORMATION
Subject was incorporated in India as a private limited company on February 5, 1996. The entire share capital of the Company is held by Lear Corporation (Mauritius) Limited, Mauritius, together with its nominees, Lear Corporation Inc., (USA) being the ultimate parent company. The Company is engaged in the design, development and manufacture of automotive seating, trims and wire harness and has corporate office in Pune; manufacturing plants in Ambad (Nashik), Gonde (Nashik), Halol (Baroda), Chennai, Bhosari (Pune), Vadhu (Pune) and Chakan (Pune), engineering services at Thane (Mumbai) and Bhosari (Pune).
OPERATIONS
During the financial year 2013-2014, the Company had successfully launched various new Seating programs for its customers from various plants. Operations from existing plants of the Company continued to support ongoing Seating and Wire Harness programs of the customers. The quality performance was as per the customer targets.
The Company continued to expand its Vertical Integration Metals manufacturing facility at Pune and Chennai and continued to export Track Assembly and Recliners to China, Thailand and Malaysia. New facility at Chakan and Chennai were completed as per plans and made fully operational. Foam lines were also established successfully at three locations in India to support operations.
During the year, Company was also re-certified for ISO/TS 16949:2009 for its existing Chakan plant.
Company continued to face challenges from ever increasing customer expectations and performance level of the suppliers, but Company ensured 100% on time deliveries to its customers.
The engineering centers at Thane and Pune continued to support the engineering and design related activities of the Company and Companys affiliates worldwide and some non-affiliated companies as well. The Company continued to support from its state-of-the-art seat testing facility at Bhosari, Pune to augment various testing requirements for the new seating programs as well as for external customers.
Lear Production System (LPS) and Lear JIT System (LJS) were implemented at Chakan and Chennai Plants. Company received from Mahindra and Mahindra Limited appreciation award for 100% delivery performance for spare parts division. Company also received Best Supplier award from Mahindra and Mahindra Limited for Annual Commodity Award in Trim. A total of 20 awards were received by the Company.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS:
·
Land – Freehold
·
Land – Leasehold
·
Factory Building
·
Office Building
·
Leasehold Improvement
·
Furniture and Fixture
·
Computers (Hardware and Software)
·
Plant and Machinery
·
Equipment and Fittings
·
Office Equipments
·
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.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.