MIRA
INFORM REPORT
|
Report No. : |
346537 |
|
Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
RINDER INDIA PRIVATE LIMITED |
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|
|
|
Formerly Known
As : |
FIEM RINDER PRIVATE LIMITED HALOGEN AUTO AND ELECTRICAL INDUSTRIES PRIVATE LIMITED |
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|
|
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Registered
Office : |
Gat No.148, Mahalunge Ingale, Off Chakan, |
|
Tel. No.: |
91-20-30616100 |
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Country : |
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Financials (as
on) : |
31.12.2013 |
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Date of
Incorporation : |
18.01.1988 |
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Com. Reg. No.: |
11-045915 |
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Capital
Investment / Paid-up Capital : |
Rs.8.500 Million |
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|
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CIN No.: [Company Identification
No.] |
U31506PN1988PTC045915 |
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|
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IEC No.: |
3197033850 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNER06605E |
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PAN No.: [Permanent Account No.] |
AAACH4211R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Auto Components. |
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No. of Employees
: |
750 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of ‘CORPORACION RINDER S.L.’ which is engaged
in manufacturing automotive lighting and signaling devices. Its products
include headlamps, projectors, tail lamps, blinkers and turn indicators, side
and position indicators, brake lights, work lamps and auxiliary equipment. Management has not filed its financial record with government
department for the year 2014. As per the financial record of December 2013, company has achieved
12.98% sales turnover growth as compared to previous sales turnover and it
has reported below average profitability margins at 0.89% during the year
under a review. Rating also takes into consideration company’s satisfactory financial
profile supported by its sound net worth base along with adequate debt coverage
indicators and financial flexibility given by parent entity. Trade relations are reported as fair. Payment terms are reported to be
usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditons. |
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 PARTED BY
|
Name : |
Mr. Raj Kumar |
|
Designation : |
Assistant Finance Manager |
|
Contact No.: |
91-9850984086 |
|
Date : |
21.10.2015 |
LOCATIONS
|
Registered Office : |
Gat No.148, Mahalunge Ingale, Off Chakan, Talegaon Road, Tal Khed,
Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-20-30616100 / 200 |
|
Mobile No.: |
91-9850984086 (Mr. Raj Kumar) |
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Fax No.: |
91-20-30616161 / 62 |
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E-Mail : |
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Website : |
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Corporate Office / Factory 1: |
Plot No. 74-74A, F-II Block, MIDC, Pimpri, Pune – 411018, Maharashtra, India |
|
Tel. No.: |
91-20-66114461/ 27470481/ 27472508 |
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Fax No.: |
91-20-27472435 |
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E-Mail : |
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|
Website : |
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Area : |
15000 Sq. ft. |
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Location : |
Owned |
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Branch Office / Factory 2: |
Plot No.12-13, Sector – 16, HSIIDC Industrial Estate, Bahadurgarh - 124507, Haryana, India |
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Tel No : |
91-1276-215727 |
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Fax No : |
91-1276-244964 |
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E mail: |
DIRECTORS
As on 30.06.2014
|
Name : |
Mr. Fernando Echevarria |
|
Designation : |
Director |
|
Address : |
C. Particular Del Club, 4-5, Fi Lasarenas, |
|
Date of Birth/Age : |
07.03.1958 |
|
Date of Appointment : |
23.01.1998 |
|
DIN No.: |
00380088 |
|
|
|
|
Name : |
Mr. Carlos Marzana |
|
Designation : |
Director |
|
Address : |
C. Senorio De Vizcaya 32 D, Gernika Lumo, |
|
Date of Birth/Age : |
10.10.1959 |
|
Date of Appointment : |
23.01.1998 |
|
DIN No.: |
00389077 |
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|
|
|
Name : |
Mr. Rafael Azcarreta |
|
Designation : |
Director |
|
Address : |
C/ Iparraguirre, 18-4 – E, Vizcaya, |
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Date of Birth/Age : |
24.11.1954 |
|
Date of Appointment : |
24.06.2002 |
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DIN No.: |
00364312 |
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|
|
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Name : |
Ms. Maria Concepcion Marzana |
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Designation : |
Director |
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Address : |
C. Egana, 13 3 B, |
|
Date of Birth/Age : |
08.12.1947 |
|
Date of Appointment : |
24.06.2002 |
|
DIN No.: |
00389443 |
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|
|
|
Name : |
Mr. Antonio Basterrechea |
|
Designation : |
Director |
|
Address : |
C. Egana, 13 3 B, |
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Date of Birth/Age : |
16.05.1947 |
|
Date of Appointment : |
24.06.2002 |
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DIN No.: |
00388940 |
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|
|
|
Name : |
Xabier Esquibel Sesma |
|
Designation : |
Director |
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Address : |
Flat No. 204, Kumar Presidency, Phase 2, Koregaon Park, Pune - 411001, Maharashtra, India |
|
Date of Appointment : |
27.03.2015 |
|
DIN No.: |
03548407 |
KEY EXECUTIVES
|
Name : |
Mr. Raj Kumar |
|
Designation : |
Assistant Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Names of Shareholders |
No. of Shares |
% of holding |
|
Rinder Industrial S.A., Spain |
84986 |
99.99 |
|
Carlos Marzana, Spain |
10 |
0.01 |
|
Total |
84996 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.06.2014
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Auto Components. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Lighting Equipment |
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Countries : |
·
Spain ·
Thailand ·
Japan |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Singapore ·
Spain |
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Terms : |
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Selling : |
Cheque and Credit |
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Purchasing : |
Cheque and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
750 (Approximately) |
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Bankers : |
Citi Bank, 2413, Parmar House, Kumar Capital, East Street, Pune – 411001,
Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Suresh Surana and Associates Chartered Accountant |
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Address : |
13th Floor, Bakhtawar, 228, Nariman Point, Mumbai-400021, Maharashtra,
India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAQFS7647M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding Company: |
Corporacion Rinder S.L. |
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Holding Company : |
Rinder Industrial S.A. |
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Subsidiaries : |
Rinder Tools India Private Limited (Fellow Subsidiary up to
20.12.2011) CIN No.:- U29299PN2004PTC019276 |
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Fellow Subsidiaries : |
·
Light and Systems Technical Centre ·
S L Lampsys Light Systems ·
S L Rinder Trading S L |
CAPITAL STRUCTURE
As on 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
295060 |
Equity Shares |
Rs.100/- each |
Rs.29.506 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
84996 |
Equity Shares |
Rs.100/-
each |
Rs.8.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8.500 |
8.500 |
8.500 |
|
(b) Reserves & Surplus |
582.221 |
566.017 |
562.714 |
|
(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) |
590.721 |
574.517 |
571.214 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
113.991 |
40.425 |
29.780 |
|
(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 |
0.000 |
0.000 |
3.790 |
|
Total Non-current Liabilities (3) |
113.991 |
40.425 |
33.570 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
133.488 |
69.160 |
16.935 |
|
(b) Trade payables |
421.779 |
312.650 |
251.000 |
|
(c) Other current liabilities |
214.488 |
70.931 |
82.023 |
|
(d) Short-term provisions |
8.223 |
9.600 |
13.302 |
|
Total Current Liabilities (4) |
777.978 |
462.341 |
363.260 |
|
|
|
|
|
|
TOTAL |
1482.690 |
1077.283 |
968.044 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
485.127 |
425.742 |
395.961 |
|
(ii) Intangible Assets |
154.840 |
6.471 |
4.327 |
|
(iii) Capital
work-in-progress |
0.000 |
11.227 |
0.000 |
|
(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) |
13.516 |
13.590 |
14.411 |
|
(d) Long-term Loan and Advances |
47.853 |
29.263 |
12.684 |
|
(e) Other Non-current assets |
0.729 |
1.056 |
0.966 |
|
Total Non-Current Assets |
702.065 |
487.349 |
428.349 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
173.931 |
109.102 |
78.510 |
|
(c) Trade receivables |
446.171 |
361.711 |
349.280 |
|
(d) Cash and cash
equivalents |
65.360 |
51.646 |
48.140 |
|
(e) Short-term loans
and advances |
73.656 |
47.332 |
57.768 |
|
(f) Other current
assets |
21.507 |
20.143 |
5.997 |
|
Total Current Assets |
780.625 |
589.934 |
539.695 |
|
|
|
|
|
|
TOTAL |
1482.690 |
1077.283 |
968.044 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
2167.413 |
1918.961 |
1772.172 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
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|
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|
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|
|
PROFIT / (LOSS)
BEFORE TAX |
27.182 |
13.205 |
55.427 |
|
|
|
|
|
|
|
|
|
|
TAX |
7.973 |
9.721 |
13.574 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
19.209 |
3.484 |
41.853 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
582.353 |
498.470 |
301.746 |
|
|
TOTAL EARNINGS |
582.353 |
498.470 |
301.746 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
287.226 |
276.564 |
163.829 |
|
|
|
Components and Spare Parts |
3.609 |
5.344 |
46.554 |
|
|
|
Capital Goods |
23.295 |
18.547 |
115.058 |
|
|
TOTAL IMPORTS |
314.130 |
300.455 |
325.441 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
225.99 |
40.99 |
492.41 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Current Maturities of Long term debt |
64.052 |
22.05 |
28.028 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
168.361 |
96.095 |
102.251 |
|
Net cash flow from operating activity |
164.691 |
80.658 |
86.674 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.89 |
0.18 |
2.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.85 |
1.25 |
5.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.02 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.53 |
0.23 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
1.28 |
1.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
8.500 |
8.500 |
8.500 |
|
Reserves & Surplus |
562.714 |
566.017 |
582.221 |
|
Net
worth |
571.214 |
574.517 |
590.721 |
|
|
|
|
|
|
long-term borrowings |
29.780 |
40.425 |
113.991 |
|
Short term borrowings |
16.935 |
69.160 |
133.488 |
|
Current Maturities Of
Long-Term Debts |
28.028 |
22.050 |
64.052 |
|
Total
borrowings |
74.743 |
131.635 |
311.531 |
|
Debt/Equity
ratio |
0.131 |
0.229 |
0.527 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1772.172 |
1918.961 |
2167.413 |
|
|
|
8.283 |
12.947 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1772.172 |
1918.961 |
2167.413 |
|
Profit |
41.853 |
3.484 |
19.209 |
|
|
2.36% |
0.18% |
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 |
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION
Subject is a manufacturer of auto components (lighting and signaling equipments). The Company operates near automobile producing companies and the products are directly supplied to them. Presently, the Company manufactures products as per specifications given / accepted by the customers. The Company has manufacturing plant at Chakan, Pimpari and Bhadurgarh.
OPERATIONS
The Company has registered substantial increase in turnover and profits as compared to the previous year. The Directors feel that the overall performance of the Company is satisfactory.
During the year, the scheme of amalgamation of Rinder Tools India Private Limited (wholly owned subsidiary) with the Company was approved by the Hon'ble High Court of Mumbai vide its order dated 25 October 2013.
As per the terms of the Scheme, Rinder Tools India Private Limited (Transferor Company) was amalgamated with the Company (Transferee Company) with effect from 1 January 2012. The attached financial statements are after giving effect to the Scheme as per the High Court Order.
UNSECURED LOAN
|
PARTICULARS |
31.12.2013
(Rs.
in Million) |
31.12.2012 (Rs.
in Million) |
|
Long term
borrowings |
|
|
|
Term loans from others |
113.991 |
40.425 |
|
Total |
113.991 |
40.425 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10533362 |
05/11/2014 |
90,000,000.00 |
BAJAJ FINANCE LIMITED |
AKURDI PUNE-, PUNE, Maharashtra - 411035, INDIA |
C35041961 |
|
2 |
90088734 |
18/09/2014 * |
220,000,000.00 |
Citi Bank N.A. |
FIRST INTERNATIONAL FINANCIAL CENTRE,, PLOT NO.C- |
C31078124 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.12.2013 |
31. 12.2012 |
|
Claims against company not acknowledged as debt |
0.000 |
0.000 |
|
Guarantees |
0.604 |
0.604 |
|
Other money for which company is contingently liable |
1.715 |
0.650 |
FIXED ASSETS
·
Freehold Land
·
Leasehold Land
·
Buildings
·
Plant and Machinery
·
Moulds
·
Dies
·
Electrical Installations
·
Furniture and Fixtures
·
Office Equipments
·
Technical know-how
·
Vehicles
·
Computers
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.65.15 |
|
|
1 |
Rs.100.53 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
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 |
|
50 |
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.