MIRA INFORM REPORT
|
Report No. : |
346943 |
|
Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
THYSSENKRUPP ENGINE COMPONENTS INDIA PRIVATE LIMITED |
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Registered
Office : |
Gat No. 392, At and Post Gonde, Village Wadivarhe, Taluka Igatpuri,
Nashik-422403, Maharashtra |
|
Tel. No.: |
91-2553-301513 |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.07.2010 |
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Com. Reg. No.: |
11-205326 |
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Capital
Investment / Paid-up Capital : |
Rs. 1418.401 Million |
|
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|
|
CIN No.: [Company Identification
No.] |
U29268MH2010PTC205326 |
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|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
NSKT03280E |
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|
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PAN No.: [Permanent Account No.] |
AADCT5410B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing and trading of crankshafts. |
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|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Thysenkrupp Gerlach GmbH, Germany,
incorporated in the year 2010. For the FY 2014, the company has achieved decent revenue but has
incurred continuous loss. The company has incurred accumulated loss marked by high gearing and
sharp decline in its cash accruals, which may act as a threat to the liquidity
position of the company. However, trade relations are fair. Business is active. Payments slow
but correct. The company can be considered for business dealings with some caution.
|
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 DECLINED
Management non-cooperative (91-2553-225182)
LOCATIONS
|
Registered Office/Factory : |
Gat No. 392, AT and Post Gonde, Village Wadivarhe, Taluka Igatpuri,
Nashik-422403, Maharashtra, India |
|
Tel. No.: |
91-2553-301513/225182 |
|
Fax No.: |
91-2553-301625 |
|
E-Mail : |
aniruddha.anil@thyssenkrupp.com |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Joydeep Bidyut Bhattacharjee |
|
Designation : |
Director |
|
Address : |
6 A, Oxford Blue Apartment, Near City Centre Mall, Lawate Nagar, Nashik - 422002, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1968 |
|
Date of Appointment : |
29.09.2014 |
|
DIN No.: |
02813496 |
|
|
|
|
Name : |
Mrs. Aniruddha Anil Patil |
|
Designation : |
Director |
|
Address : |
Flat No. 3-B, Priyanka Hill, Mahatma Nagar, Nashik - 422007, Maharashtra, India |
|
Date of Birth/Age : |
13.05.1976 |
|
Date of Appointment : |
24.09.2014 |
|
DIN No.: |
06988988 |
|
|
|
|
Name : |
Mr. Antonio Carlos Garcia |
|
Designation : |
Additional director |
|
Address : |
R Machado De Assis, 75 AP 91, Vl Cacilda, 13208-260, Jundiai SP, NA, Brazil |
|
Date of Appointment : |
22.01.2015 |
|
DIN No.: |
07116051 |
KEY EXECUTIVES
|
Name : |
Aniruddha Anil Patil |
|
Designation : |
Secretary |
|
Address : |
Flat No. B-3, Priyanka Hills, "B", Behaind Water Tank, Mahatma Nagar, Nashik, 422007, Maharashtra, India |
|
Date of Appointment : |
21.06.2013 |
|
PAN No.: |
AILPP4184H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Thyssenkrupp Gerlach, GmbH, Germany |
|
141840045 |
|
Thyssenkrupp Technologies Bett. GmbH, Germany |
|
10 |
|
|
|
|
|
Total |
|
141840055 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
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 : |
Subject is engaged in manufacturing and trading of crankshafts. |
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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 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 the management |
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Bankers : |
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Auditors : |
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|
Name : |
Price Waterhouse and Company Bangalore Chartered Accountants |
|
Address : |
Muttha Towers, 5th floor, Suite No.8, Airport Road, Yerwada, Pune - 411006, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFP9359C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Party
(Where Control Exists) : |
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|
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|
Fellow Subsidiary
companies: |
CIN No.:U27100MH2000PTC127807
CIN No.:U74999MH1947PTC005508
CIN No.:U74200MH1977PTC020041
|
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs. 1500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
141840055 |
Equity Shares |
Rs.10/- each |
Rs. 1418.401
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 (12 Months) |
31.03.2013 (6 Months) |
30.09.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1418.401 |
1418.400 |
261.551 |
|
(b) Reserves & Surplus |
(1139.654) |
(787.477) |
(520.219) |
|
(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) |
278.747 |
630.923 |
(258.668) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
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 |
5.210 |
4.582 |
2.726 |
|
Total Non-current
Liabilities (3) |
5.210 |
4.582 |
2.726 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1341.399 |
2010.000 |
2000.000 |
|
(b) Trade
payables |
45.185 |
64.467 |
133.969 |
|
(c) Other
current liabilities |
24.053 |
34.816 |
55.745 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
1410.637 |
2109.283 |
2189.704 |
|
|
|
|
|
|
TOTAL |
1694.594 |
2744.788 |
1933.772 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1163.340 |
1259.460 |
1288.650 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.351 |
0.984 |
9.527 |
|
(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 |
131.920 |
178.916 |
142.548 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1296.611 |
1439.360 |
1440.725 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
241.925 |
317.735 |
296.811 |
|
(c) Trade
receivables |
65.804 |
37.214 |
64.797 |
|
(d) Cash
and cash equivalents |
1.999 |
884.347 |
30.092 |
|
(e)
Short-term loans and advances |
88.255 |
66.031 |
98.816 |
|
(f) Other
current assets |
0.000 |
0.101 |
2.531 |
|
Total
Current Assets |
397.983 |
1305.428 |
493.047 |
|
|
|
|
|
|
TOTAL |
1694.594 |
2744.788 |
1933.772 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 (12 Months) |
31.03.2013 (6 Months) |
30.09.2012 |
|
|
SALES |
|
|
|
|
|
Income |
275.900 |
141.050 |
312.110 |
|
|
Other Income |
1.090 |
0.770 |
0.260 |
|
|
TOTAL
|
276.990 |
141.820 |
312.370 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
403.090 |
249.940 |
569.300 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
(126.100) |
(108.120) |
(256.930) |
|
|
|
|
|
|
|
Less |
INTEREST
EXPENSES |
122.870 |
108.040 |
96.230 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(248.970) |
(216.160) |
(353.160) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
103.210 |
51.100 |
31.620 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(352.180) |
(267.260) |
(384.780) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(352.180) |
(267.260) |
(384.780) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(787.480) |
(520.220) |
(135.440) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(1139.660) |
(787.480) |
(520.220) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
14.776 |
0.000 |
NA |
|
|
TOTAL EARNINGS |
14.776 |
0.000 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3.053 |
119.324 |
529.546 |
|
|
Stores and Spares |
16.833 |
31.506 |
7.978 |
|
|
Capital Goods |
0.000 |
0.000 |
68.274 |
|
|
TOTAL
IMPORTS |
19.886 |
150.83 |
605.798 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(2.48) |
(1.88) |
(2.71) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 (12 Months) |
31.03.2013 (6 Months) |
30.09.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(82.398) |
(172.436) |
(554.097) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 (12 Months) |
31.03.2013 (6 Months) |
30.09.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(127.65) |
(189.48) |
(123.28) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(45.70) |
(76.65) |
(82.32) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(20.80) |
(9.74) |
(20.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.26) |
(0.42) |
1.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.81 |
3.19 |
(7.73) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.28 |
0.62 |
0.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
30.09.2012 |
31.03.2013 (6 Months) |
31.03.2014 (12 Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
261.551 |
1418.400 |
1418.401 |
|
Reserves & Surplus |
(520.219) |
(787.477) |
(1139.654) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(258.668) |
630.923 |
278.747 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
2000.000 |
2010.000 |
1341.399 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
2000.000 |
2010.000 |
1341.399 |
|
Debt/Equity
ratio |
(7.732) |
3.186 |
4.812 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.09.2012 |
31.03.2013 (6 Months) |
31.03.2014 (12 Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
312.110 |
141.050 |
275.900 |
|
|
|
(54.808) |
95.604 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.09.2012 |
31.03.2013 (6 Months) |
31.03.2014 (12 Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
312.110 |
141.050 |
275.900 |
|
Profit |
(384.780) |
(267.260) |
(352.180) |
|
|
(123.28)% |
(189.48)% |
(127.65)% |
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 financial
years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three financial
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 |
GENERAL INFORMATION
ThyssenKrupp Engine Components India Private Limited is engaged in manufacturing and trading of crankshafts. The Company is presently catering to the domestic markets. The Company has established its plant in India and has completed construction of its manufacturing plant in Nashik during July, 2012.
BACKGROUND
The Company was incorporated as a Private Limited Company on July 07, 2010. The Company is wholly owned subsidiary of ThyssenKrupp Gerlach GmbH, Germany. The Company has acquired the land on lease basis from ThyssenKrupp Electrical Steel India private Limited, mainly to manufacture for internal combustion piston engines and other parts and accessories for heavy motor vehicles. The company has already necessary permissions and approvals from the respective government departments for execution of the said project. The commercial production commenced in July 2012 after receiving the Consent to Operate from the Government authorities. The Company is ramping up its production and is in the phase of stabilizing its operations. The Company is also in the process of stabilising exports to ThyssenKrupp Crankshaft Company, USA as a part of the Global rebalancing of operations within the Forged and Machined Components Group. The Company expects to achieve consistent exports throughout the next year.
BUSINESS OUTLOOK
The company’s outlook is depending mainly on the general economic outlook and in particular on the future of Industrial/Automotive production. The overall market scenario in India is continually going through a turbulent phase currently. There is sizeable reduction in the commercial vehicle market compared to the last year. The Company expects the markets to grow in the near future with a stable Government in place and some recoveries already been witnessed in the market. Some stimulating initiatives from the Government of India and the RBI would help.
The company has temporarily halted its recruitment programme in view of the slowing down of the production ramp up plan. Currently, the entire capacity of the company is allotted to one customer, TCL. The Company procures forgings from local market. The Company has developed another local source and achieved certain economies. We are continuing our efforts to expand the customer base.
The company is hopeful on the positive returns for the investments taken. The company will continuously focus on highest quality and customer services to retain and improve the market share.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advance from related parties (Repayable on demand) |
1341.399 |
1510.000 |
|
Ruppe term loan from Bank |
0.000 |
500.000 |
|
|
|
|
|
Total |
1341.399 |
2010.000 |
INDEX OF CHARGES: NO CHARGES
EXIST FOR THE COMPANY
FIXED ASSETS
- Factory
- Plant and Machinery
- Weighting Scales
- Air-conditioners and refrigerators
- Computers
- Furniture and fixtures and 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 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.99.54 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
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 |
|
32 |
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.