MIRA INFORM REPORT
|
Report No. : |
339584 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCHUECO INDIA PRIVATE LIMITED
(w. e. f. 26.05.2014) |
|
|
|
|
Formerly Known
As : |
SCHUECO INDIA SOLAR AND
WINDOWS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 64, North Avenue 3, Maker Maxity, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
Tel. No.: |
91-22-67868989 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
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Date of Incorporation
: |
06.09.2011 |
|
|
|
|
Com. Reg. No.: |
11-221550 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs.324.700 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29219MH2011PTC221550 |
|
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|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAQCS3202B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
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|
Line of Business
: |
The company is primarily engaged in trading of Aluminium profiles and accessories. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of “Schueco International KG, Germany”. It is
an established company having moderate track. The company possesses moderate operational performance and it has
incurred huge losses from its operational activities. Rating further constrained account of company’s moderate financial
risk profile marked by negative reserves and leverage balance sheet profile
of the company. However, company receives strong financial and managerial support from
its holding company. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. In view of strong holding company support, 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
31-03-2013.
INFORMATION DENIED
Management non co-operative
Contact No.:91-22-67868989
LOCATIONS
|
Registered Office : |
No. 64, North Avenue 3, Maker Maxity, Bandra Kurla
Complex, Bandra (East)s Mumbai-400051, Maharashtra, India |
|
Tel. No.: |
91-22-67868989 |
|
Fax No.: |
91-22-67868999 |
|
E-Mail : |
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|
Website : |
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|
|
|
Showroom : |
Unit No. DTJ318, 3rd Floor, DLF Jasola Tower (Tower B),
Plot No. 10 and 11, DDA District Centre, Jasola, New Delhi – 110044, India |
|
Tel. No.: |
91-9990461777 |
|
|
|
|
Warehouse: |
Survey No.10, WH No.3, Makali Village, Hobli, Dasanapura Hobli, Bangalore
North – 562123, India |
|
Tel. No.: |
91-80-23715176 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Rajeev Antony |
|
Designation : |
Managing director |
|
Address : |
31, Ambili Nagar, Tripunithura, Ernakulam – 682301, Kerala, India |
|
Date of Birth/Age : |
19.09.1972 |
|
Date of Appointment : |
12.09.2011 |
|
DIN No.: |
02666380 |
|
|
|
|
Name : |
Philipp Caspar Alfred Hubertus Neuhaus |
|
Designation : |
Additional director |
|
Address : |
IM Haderheck 7, Konigstein Im Taunus, 61462, Germany |
|
Date of Appointment : |
10.06.2015 |
|
DIN No.: |
07176832 |
|
|
|
|
Name : |
Johannes Mattheus Bruijnse |
|
Designation : |
Additional director |
|
Address : |
Neumarkt 11, Bielefeld, 33602, Netherlands |
|
Date of Appointment : |
10.06.2015 |
|
DIN No.: |
07176824 |
KEY EXECUTIVES
|
Name : |
Parshva Sanjaykumar Doshi |
|
Designation : |
Secretary |
|
Address : |
502, Minal Tower Opposite Jain Nursing Home, Old Nagardas Road, Andheri (East), Mumbai - 400069, Maharashtra, India |
|
PAN No.: |
BBVPD0643K |
|
Date of Appointment : |
10.07.2014 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Schueco International KG, Germany |
20610800 |
85.00 |
|
Schueco Service GMBH, Germany |
3637200 |
16.00 |
|
|
|
|
|
Total |
24248000 |
100.00 |
As on: 19.08.2014
LIST OF ALLOTTEES:
|
Names of Allottees |
|
No. of Shares |
|
Schueco International KG, Germany |
|
10044875 |
|
Schueco Service GMBH, Germany |
|
1772625 |
|
|
|
|
|
Total |
|
11817500 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign Holdings |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is primarily engaged in trading of Aluminium profiles and accessories. |
|
|
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|
Products : |
Aluminium profiles and accessories |
|
|
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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 : |
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Auditors : |
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|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
5Th Floor, Lodha Excelus, Apollo Mills Compound N. M. Joshi Marg, Mahalaxmi, Maharashtra, India |
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PAN No.: |
AAIFB7357B |
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Memberships : |
---- |
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Collaborators : |
--- |
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Holding company: |
Schueco International KG |
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Fellow Subsidiary
company : |
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CAPITAL STRUCTURE
After on:
30.09.2014
Authorized Capital: Rs.
480.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 442.875
Million
As on: 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39,000,000 |
Equity Shares |
Rs.10/- each |
Rs.390.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32470000 |
Equity Shares |
Rs.10/- each |
Rs.324.700
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
324.700 |
171.000 |
67.500 |
|
(b) Reserves & Surplus |
(217.147) |
(126.859) |
(27.517) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
71.480 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
107.553 |
115.621 |
39.983 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
6.700 |
6.400 |
2.900 |
|
(c) Other long term
liabilities |
2.998 |
1.315 |
0.258 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
9.698 |
7.715 |
3.158 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
115.034 |
17.810 |
20.251 |
|
(c) Other current
liabilities |
33.888 |
25.661 |
14.240 |
|
(d) Short-term
provisions |
0.142 |
0.084 |
0.025 |
|
Total Current
Liabilities (4) |
149.064 |
43.555 |
34.516 |
|
|
|
|
|
|
TOTAL |
266.315 |
166.891 |
77.657 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
13.567 |
17.198 |
13.125 |
|
(ii) Intangible Assets |
0.128 |
0.232 |
0.031 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
28.466 |
18.090 |
11.459 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
42.161 |
35.520 |
24.615 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
|
|
(b) Inventories |
103.415 |
47.167 |
26.510 |
|
(c) Trade receivables |
31.141 |
18.673 |
3.751 |
|
(d) Cash and cash
equivalents |
86.126 |
52.646 |
14.350 |
|
(e) Short-term loans
and advances |
3.129 |
12.635 |
8.431 |
|
(f) Other current
assets |
0.343 |
0.250 |
0.000 |
|
Total Current Assets |
224.154 |
131.371 |
53.042 |
|
|
|
|
|
|
TOTAL |
266.315 |
166.891 |
77.657 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
304.223 |
116.576 |
4.245 |
|
|
|
Other Income |
1.854 |
0.482 |
0.281 |
|
|
|
TOTAL |
306.077 |
117.058 |
4.526 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
394.701 |
216.399 |
31.833 |
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(94.382) |
(103.441) |
(27.307) |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
5.759 |
4.100 |
0.210 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX |
(88.623) |
(99.341) |
(27.517) |
|
|
|
|
|
|
|
|
|
|
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
AFTER TAX |
(88.623) |
(99.341) |
(27.517) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(88.623) |
(99.341) |
(27.517) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
16.301 |
53.673 |
3.127 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.65) |
(4.10) |
(4.08) |
|
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 flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(32.92) |
(92.25) |
(648.22) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(37.60) |
(64.44) |
(35.43) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.93) |
(0.93) |
(0.69) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50 |
3.02 |
1.54 |
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 |
67.500 |
171.000 |
324.700 |
|
Reserves & Surplus |
(27.517) |
(126.859) |
(217.147) |
|
Share Application money
pending allotment |
0.000 |
71.480 |
0.000 |
|
Net worth |
39.983 |
115.621 |
107.553 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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 |
4.245 |
116.576 |
304.223 |
|
|
|
2,646.196 |
160.965 |
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 |
4.245 |
116.576 |
304.223 |
|
Profit/Loss |
(27.517) |
(107.541) |
(100.141) |
|
|
(648.22%) |
(92.25%) |
(32.92%) |
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 |
BUSINESS OPERATIONS
AND FUTURE OUTLOOK:
The company incorporated in India on September 06, 2011 under the Indian Companies Act,1956, having its registered office at Premises No.064, 6 th Floor, 3 North Avenue, Maker Maxity, Bandra Kurla Complex, Bandra (East), Mumbai ? 400051.
The company is primarily engaged in trading of Aluminium profiles and accessories. To carry on the business of development, marketing and supply of locally sourced and imported aluminum windows/doors extrusions, façadetechnologies complete window/doors and façade systems including all related hardware and accessories for buildings in all market sectors, from private homes to commercial and industrial projects.
Schueco India, a subsidiary company of Schueco International KG (85%) and Schueco Services GmbH (15%), Karolinenstrabe, 1-15, 33609 Bielefeld, Germany. The Schueco Group is the European leader in system-based construction using Aluminium, U-PVC and Steel products and offer high-quality systems that satisfy the highest requirements in terms of energy.
efficiency, security, convenience and design. Schueco International KG operates as a system provider and distributor of aluminium, U-PVC and steel profile systems.
INDEX OF CHARGES: No Charges Exist for Company
FIXED ASSETS:
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Leasehold improvements
- Furniture and fixtures
- Computer software
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.66.22 |
|
|
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
28 |
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.