MIRA INFORM REPORT

 

 

Report No. :

338634

Report Date :

04.09.2015

 

IDENTIFICATION DETAILS

 

Name :

VTS TF AIR SYSTEMS PRIVATE LIMITED (w.e.f. 18.09.2010)

 

 

Formerly Known as :

CLIVET TF AIR SYSTEMS PRIVATE LIMITED

 

 

Registered Office :

Plot No. 222 to 224 and 229 to 232, KIADB Industrial Area, 3rd Phase, Malur – 563130, Karnataka

Tel. No.:

91-8151-232683

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.04.2005

 

 

Com. Reg. No.:

08-036130

 

 

Capital Investment / Paid-up Capital :

Rs.214.952 Million

 

 

CIN No.:

[Company Identification No.]

U29192KA2005PTC036130

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRC05991G

 

 

PAN No.:

[Permanent Account No.]

AACCC6263C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is carrying on the business of manufacturing of all kinds of air handling unit, providing consultancy, advisory, engineering services to its customers and also carrying on the business of trading of all kinds of air handing units.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 380000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track.

 

The company has incurred a loss from its operations during FY 2014.

 

However, trade relations are fair. Business is active. Payment terms are slow but correct.

 

The company can be considered for business dealings with some cautions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term rating: B+ (Suspended)

Rating Explanation

Have risk prone credit quality and carries very high credit risk.

Date

17.07.2014

 

Reason for suspension: The suspension of rating is on account of non-cooperation by VTS TF with CRISIL’s efforts to undertake a review of the ratings outstanding.

 

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 DECLINED BY

 

Name :

Ms. Fatima

Designation :

Marketing Secretary

Contact No.:

91-9945090275

Date :

02.09.2015

 

 

LOCATIONS

 

Registered Office / Factory / India Logistics Centre:

Plot No. 222 to 224 and 229 to 232, KIADB Industrial Area, 3rd Phase, Malur – 563130, Karnataka, India

Tel. No.:

91-8151-232683/ 84

Mobile No.:

91-9945090275 (Ms. Fatima)

Fax No.:

91-8151-32685

E-Mail :

joby.mathew@vtsgroup.com  

Website:

www.vtsgroup.com

 

 

Sales Head Quarters:

No. 183, Gayatri Tech Park, Road 1 B, EPIP, KIADB, Whitefield, Bangalore – 560066, Karnataka, India

Tel No.:

91-80-40540222

 

 

DIRECTORS

 

AS ON 26.12.2014

 

Name :

Krzysztof Tomasz Mital

Designation :

Director

Address :

22, Centaura, Gdansk, Poland, Poland, 80299, Poland

Date of Birth/Age :

21.07.1977

Date of Appointment :

01.07.2010

DIN No.:

02758550

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U26929KA2007PTC042219

VTS VENTUS INDIA PRIVATE LIMITED

Director

8/9/2009

8/9/2009

-

Active

NO

2

U29192KA2005PTC036130

VTS TF Air Systems Private Limited

Director

1/7/2010

1/7/2010

-

Active

NO

 

 

Name :

Hanna Barbara Siek Zagorska

Designation :

Director

Address :

Slonecznikowa 2, 81-198, Kosakowo, 0, Poland

Date of Birth/Age :

19.01.1978

Date of Appointment :

28.09.2012

DIN No.:

05310650

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29192KA2005PTC036130

VTS TF Air Systems Private Limited

Director

28/09/2012

3/7/2012

-

Active

NO

 

 

Name :

Mr. Manish Dhamija

Designation :

Director

Address :

F-23, Diamond District Apartment, Old Air Port Road,, Bangalore - 560008, Karnataka, India

Date of Birth/Age :

15.06.1971

Date of Appointment :

26.12.2014

DIN No.:

06491624

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29255KA2013PTC068480

GTS Coil Private Limited

Director

8/4/2013

8/4/2013

12/2/2014

Active

NO

2

U29220KA2013PTC068519

IPUTS Panel Equipment Private Limited

Director

12/4/2013

12/4/2013

12/2/2014

Active

NO

3

U29192KA2005PTC036130

VTS TF Air Systems Private Limited

Director

26/12/2014

12/2/2014

-

Active

NO

 

 

Name :

Joby Cherappurath Mathew

Designation :

Director

Address :

#2564, 6th Cross, Muniswamappa Layout, H.A.L 3rd Stage, Bangalore - 560037, Karnataka, India

Date of Birth/Age :

30.05.1981

Date of Appointment :

26.12.2014

DIN No.:

06801948

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U26929KA2007PTC042219

VTS VENTUS INDIA PRIVATE LIMITED

Director

30/09/2014

10/2/2014

-

Active

NO

2

U29192KA2005PTC036130

VTS TF Air Systems Private Limited

Director

26/12/2014

12/2/2014

-

Active

NO

 

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Raghavendra Bondade

Designation :

Secretary

Address :

No. 1/1/119,Near Gadiyara Kamba, Koppal, Tq Koppal, District Koppal, Koppal - 583231, Karnataka, India

Date of Appointment :

01.06.2015

PAN No:

ATDPB2581P

 

 

Name :

Ms. Fatima

Designation :

Marketing Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 26.12.2014

 

Names of Shareholders

No. of Shares

%age holding

VTS Group S. A, Luxembourg 

14273582

65.55

Safeman Limited, Cyprus

7500000

34.45

Total

21773582

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 26.12.2014

 

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 carrying on the business of manufacturing of all kinds of air handling unit, providing consultancy, advisory, engineering services to its customers and also carrying on the business of trading of all kinds of air handing units.

 

 

Products :

Item Code No.

Product Description

99546320

Ventillation and air conditioning

Equipment installation services

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Deutsche Bank AG, Raheja Towers, 26-27 M.G. Road, Bangalore - 560001, Karnataka, India

 

Banker Name

Canara Bank

Branch Address

19/7, Maruthi Mansion, Cunningham Road, Bangalore - 560052, Karnataka, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Working capital loans from banks

14.541

31.907

Total

14.541

31.907

 

Auditors :

 

Name :

Varma and Varma

Chartered Accountant

Address :

#424, 4th C Main, 6th Cross, OMBR Layout, Banaswadi, Bangalore-560043

PAN N Income-tax PAN of auditor or auditor's firm :

AABFV9555E

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company and Ultimate Holding Company:
  • VTS Group SA , Luxembourg

 

 

Subsidiary Company:
  • IPUTS Panel Equipment Private Limited, India [U29220KA2013PTC068519]
  • GTS Coil Private Limited, India [U29255KA2013PTC068480]

 

 

Fellow Subsidiaries:
  • VTS SP Zoo- Poland
  • VTS Clima Air Conditioning Equipment Company
  • VTS Clima Gulf FZCO
  • VTS America

 

 

Enterprises owned or significantly influenced by

management personnel:
  • VTS Ventus India Private Limited, India [U26929KA2007PTC042219]

 

 

CAPITAL STRUCTURE

 

AS ON 26.12.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

22000000

Equity Shares

Rs.10/- each

Rs. 220.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

21773582

Equity Shares

Rs.10/- each

Rs. 217.736 Million

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

22000000

Equity Shares

Rs.10/- each

Rs. 220.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

21495239

Equity Shares

Rs.10/- each

Rs. 214.9532 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

214.952

183.980

171.254

(b) Reserves & Surplus

(80.710)

(114.339)

(74.932)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

16.020

8.746

Total Shareholders’ Funds (1) + (2)

134.242

85.661

105.068

 

 

 

 

(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

1.433

1.909

2.796

Total Non-current Liabilities (3)

1.433

1.909

2.796

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

14.541

31.907

58.440

(b) Trade payables

196.546

126.828

158.567

(c) Other current liabilities

110.677

52.952

24.216

(d) Short-term provisions

5.686

5.416

4.982

Total Current Liabilities (4)

327.450

217.103

246.205

 

 

 

 

TOTAL

463.125

304.673

354.069

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

139.600

135.621

136.410

(ii) Intangible Assets

0.392

0.711

1.188

(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

0.140

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

5.914

6.898

4.528

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

146.046

143.230

142.126

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

64.210

40.678

59.209

(c) Trade receivables

130.880

45.312

95.118

(d) Cash and cash equivalents

8.850

22.951

10.360

(e) Short-term loans and advances

113.131

51.560

46.601

(f) Other current assets

0.008

0.942

0.655

Total Current Assets

317.079

161.443

211.943

 

 

 

 

TOTAL

463.125

304.673

354.069

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Total Revenue

459.513

358.201

326.873

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

(62.082)

(74.197)

(75.055)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

7.179

7.486

7.266

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(69.261)

(81.683)

(82.321)

 

 

 

 

 

Less

TAX

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(69.261)

(81.683)

(82.321)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(3.22)

NA

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

0.000

0.000

1.887

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

(14.96)

(26.81)

(23.25)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.52)

(0.95)

(0.78)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.11

0.37

0.57

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.97

0.74

0.86

 

 

 

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

171.254

183.980

214.952

Reserves & Surplus

(74.932)

(114.339)

(80.710)

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

8.746

16.020

0.000

Net worth

105.068

85.661

134.242

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

58.440

31.907

14.541

Current maturities of long-term debts

1.887

0.000

0.000

Total borrowings

60.327

31.907

14.541

Debt/Equity ratio

0.574

0.372

0.108

 

 

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)

Total Revenue

326.873

358.201

459.513

 

 

9.584

28.284

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Revenue

326.873

358.201

459.513

Profit

(82.321)

(81.683)

(69.261)

 

(25.18%)

(22.80%)

(15.07%)

 

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)

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

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

Yes

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 address of the company Plot No: 222 to 224 and 229 to 232, KIADB Industrial Area, 3rd Phase, Malur – 572130, Karnataka, India has been shifted to the present address w.e.f. 03.02.2012

 

REVIEW OF OPERATIONS AND BUSINESS PROSPECTS:

 

There is a marginal increase in the sales revenue of the company. The Company has incurred a loss this year also, due to increase in the cost of materials and operating cost. The Company is making its earnest effort to increase the sales and earn profit during the current financial year.

 

CORPORATE INFORMATION

 

Subject was incorporated on 21st April 2005. The Company is carrying on the business of manufacturing of all kinds of air handling unit, providing consultancy, advisory, engineering services to its customers and also carrying on the business of trading of all kinds of air handing units.

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10448231

23/07/2013

17,500,000.00

DEUTSCHE BANK AG

RAHEJA TOWERS, 26-27 M.G. ROAD, BANGALORE, KARNAT
AKA - 560001, INDIA

B84662402

2

10448246

23/07/2013

17,500,000.00

DEUTSCHE BANK AG

RAHEJA TOWERS, 26-27 M.G. ROAD, BANGALORE, KARNAT
AKA - 560001, INDIA

B84663756

3

10448241

23/07/2013

80,000,000.00

DEUTSCHE BANK AG

RAHEJA TOWERS, 26-27 M.G. ROAD, BANGALORE, KARNAT
AKA - 560001, INDIA

B84665736

 

 

FIXED ASSETS

 

Tangible assets

 

 

Intangible assets

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.66.23

UK Pound

1

Rs.101.22

Euro

1

Rs.74.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

27

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.