MIRA INFORM REPORT
|
Report No. : |
339957 |
|
Report Date : |
08.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
HITACHI LIFT INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Units 802A-802B, Tower 2, 8th Floor, Konnectus Building, Bhavbhuti
Marg, Near Minto Bridge, Connaught Place, Delhi - 110001 |
|
Tel. No.: |
91-11-30605290 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
28.01.2008 |
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|
|
|
Com. Reg. No.: |
55-173227 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.430.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45400DL2008FTC173227 |
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|
|
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IEC No.: |
0508000131 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AABCH9680D |
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Subject is engaged in the services provider and installation of
elevators, escalators. |
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|
|
|
No. of Employees
: |
85 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Hitachi, Limited” Japan. 'It is an established company incorporated in the year 2008 having a satisfactory track record. The company has incurred some accumulated losses However, balance sheet of the company is totally debt free. The rating also derives strength from its strong parentage (viz. Hitachi Limited) and its experienced management. Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. In view of strong holding support the company can be considered normal for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC 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 |
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 PARTED BY
|
Name : |
Mr. Ajay Verma |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-11-30605290 |
|
Date : |
07.09.2015 |
LOCATIONS
|
Registered Office / Head Office: |
Units 802A-802B, Tower 2, 8th Floor, Konnectus Building,
Bhavbhuti Marg, Near Minto Bridge, Connaught Place, Delhi – 110001, India |
|
Tel. No.: |
91-11-30605290 |
|
Fax No.: |
91-11-30605299 |
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E-Mail : |
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Website : |
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Branch Office 1 : |
207, Ascot Centre, Shar Road, Next to Hilton Hotel, Andheri (East),
Mumbai – 400099, Maharashtra, India |
|
Tel. No.: |
91-22-67357575 |
|
|
|
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Branch Office 1 : |
103, 1st Floor, Shah Sultan Complex No. 17, Cunningham Road,
Bangalore – 560052, Karnataka, India |
|
Tel. No.: |
91-80-22386988/87 |
DIRECTORS
AS ON 17.07.2014
|
Name : |
Mr. Takayuki Unno |
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|
Designation : |
Managing director |
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Address : |
202, Milana, 29-5, Higashinakamachi, Urawa-Ku, Saitama, Saitama
City, Na, Japan |
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Date of Birth/Age : |
03.05.1972 |
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Date of Appointment : |
17.07.2014 |
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DIN No.: |
06842424 |
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Other
Directorship:
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Name : |
Mr. Osamu Kubo |
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Designation : |
Director |
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Address : |
187-16 Himeko 2-Chome, Mito, Ibaraki, 3114151, Japan |
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Date of Birth/Age : |
14.09.1970 |
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Date of Appointment : |
17.07.2015 |
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DIN No.: |
03361754 |
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Other Directorship:
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Name : |
Mr. Kojin Nakakita |
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Designation : |
Director |
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Address : |
Hotel Le Meridien, Windsor Place, Janpath, New Delhi -
110001, India |
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Date of Appointment : |
17.07.2015 |
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DIN No.: |
07107266 |
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Other
Directorship:
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Name : |
Mr. Hitoshi Okamoto |
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Designation : |
Director |
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Address : |
27-17 Nasuzukuri-Kitamachi,, Hirakata,, Osaka, NA, Japan |
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Date of Appointment : |
17.07.2015 |
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DIN No.: |
07188660 |
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Other
Directorship:
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Name : |
Mr. Siew Yat Hung |
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Designation : |
Director |
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Address : |
27, Hazel Park Terrace #18-01, Singapore, Hazel Park
Terrace, 678949, Singapore |
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Date of Birth/Age : |
19.02.1968 |
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Date of Appointment : |
17.07.2014 |
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DIN No.: |
05349447 |
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Other
Directorship:
|
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|
Name : |
Mr. Yusuke Takahashi |
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|
Designation : |
Director |
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Address : |
38-1-106, Funabashi 4 Chome, Setagaya Ku, 1560055, Japan |
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Date of Birth/Age : |
05.12.1966 |
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Date of Appointment : |
17.07.2014 |
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DIN No.: |
01820908 |
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Other
Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Ajay Verma |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.07.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Hitachi Limited, Japan |
23650000 |
55.00 |
|
Hitachi Building Systems Company Limited, Japan |
12900000 |
30.00 |
|
Hitachi Elevator Asia Pte Limited, Singapore |
6450000 |
15.00 |
|
Total |
43000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 17.07.2014
|
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 the services provider and installation of
elevators, escalators. |
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C 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 : |
85 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Golf View Tower B Sector 42 , Sector Road, Gurgaon-122002, Haryana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9180N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
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Fellow Subsidiary
Company: |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
165000000 |
Equity Shares |
Rs.10/- each |
Rs. 1650.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43000000 |
Equity Shares |
Rs.10/- each |
Rs. 430.0000
Million |
|
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|
|
|
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 |
430.000 |
430.000 |
430.000 |
|
(b) Reserves & Surplus |
(30.936) |
(24.491) |
(51.863) |
|
(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) |
399.064 |
405.509 |
378.137 |
|
|
|
|
|
|
(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 |
0.067 |
|
(d) long-term provisions |
6.659 |
6.865 |
4.197 |
|
Total
Non-current Liabilities (3) |
6.659 |
6.865 |
4.264 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
28.676 |
23.816 |
17.966 |
|
(c) Other current liabilities |
44.768 |
44.067 |
40.531 |
|
(d) Short-term provisions |
15.930 |
19.444 |
8.702 |
|
Total
Current Liabilities (4) |
89.374 |
87.327 |
67.199 |
|
|
|
|
|
|
TOTAL |
495.097 |
499.701 |
449.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10.065 |
14.509 |
20.661 |
|
(ii) Intangible Assets |
0.150 |
0.000 |
0.000 |
|
(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 |
3.500 |
0.000 |
|
(d) Long-term Loan and Advances |
9.162 |
11.429 |
15.537 |
|
(e) Other Non-current assets |
0.295 |
0.150 |
0.250 |
|
Total
Non-Current Assets |
19.672 |
29.588 |
36.448 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
23.651 |
3.043 |
9.183 |
|
(c) Trade receivables |
35.918 |
63.654 |
16.906 |
|
(d) Cash and cash equivalents |
382.059 |
379.416 |
354.371 |
|
(e) Short-term loans and
advances |
22.652 |
9.468 |
9.377 |
|
(f) Other current assets |
11.145 |
14.532 |
23.315 |
|
Total
Current Assets |
475.425 |
470.113 |
413.152 |
|
|
|
|
|
|
TOTAL |
495.097 |
499.701 |
449.600 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
113.193 |
190.433 |
186.426 |
|
|
|
(Market
Down) |
|
|
|
|
Other Income |
37.073 |
36.648 |
35.197 |
|
|
TOTAL
|
150.266 |
227.081 |
221.623 |
|
|
|
|
|
|
|
Less |
EXPENSES |
152.217 |
183.379 |
182.867 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(1.951) |
43.702 |
38.756 |
|
|
|
|
|
|
|
Less |
TAX |
4.494 |
16.330 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(6.445) |
27.372 |
38.756 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(24.491) |
(51.863) |
(90.919) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(30.936) |
(24.491) |
(52.163) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.15) |
NA |
NA |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
210.000 (Increase in
activity) |
The above information has been parted by Mr. Ajay Verma
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(5.69) |
14.37 |
20.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.39) |
8.81 |
8.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.11 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.32 |
5.38 |
6.15 |
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 |
430.000 |
430.000 |
430.000 |
|
Reserves & Surplus |
(51.863) |
(24.491) |
(30.936) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
378.137 |
405.509 |
399.064 |
|
|
|
|
|
|
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 |
186.426 |
190.433 |
113.193 |
|
|
|
2.149 |
(40.560) |
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 |
186.426 |
190.433 |
113.193 |
|
Profit |
38.756 |
27.372 |
(6.445) |
|
|
20.79% |
14.37% |
(5.69%) |
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 |
Yes |
|
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 four 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 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
BUSINESS PLAN AND
FUTURE BUSINESS PROJECTION OF THE COMPANY
The year of 2013-2014 is a tough year for Hitachi Lift India Private Limited (Company) under economic circumstances.
The Indian economic growth of the fiscal is below 5%. INR had been depreciated by about 20% between April and August. These factors made customers put their decisions slower. In addition, the inflation rate has stayed around 10% and it resulted in higher costs of the Company activities. However, all members of the Company have tried best and delivered results to a greater extent.1st half of the fiscal, the Company received 3 repeating orders, Mindspace Building No.12-B in Hyderabad, Nirlon Knowledge Park Phase IV in Mumbai, and Patina IT Park in Chennai. These are results of our successful executions of previous projects. The company has also entered Bangalore with Prestige group’s projects followed by a premium office project of Synergy Group. Pane is another new city for the Company, starting with multiple office projects for Panchshil Realty. In North, the Company has also added new customers such as Palm Olympia by Sam India Abhimanyu Housing is a premium residential project in Greater Noida. The fiscal has been closed successfully by securing Nathani Heights in Mumbai. The 73 story project will be the 1st ultra-high speed elevator project of the Company. Apart from new orders, more than 100 units have been handed over during the fiscal in various locations, and the maintenance base of the Company has been strengthened.
The Company expects a recovery and further growth of the market in 2014-2015 after the general election. The stabilized INR is another positive sign. On the other hand, the price level will still be challenging for the Company due to competition. The Company will keep monitoring the market situation carefully, target premium projects, and continue to deliver projects successfully for customer satisfaction.
CORPORATE INFORMATION
Subject was incorporated on 28th January, 2008 as a subsidiary (55%) of Hitachi, Limited., Japan with the main object of sales, marketing, installation and maintenance of elevators, escalators and moving walkways of all kinds and similar equipments.
FIXED ASSETS
Tangible assets
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
- Leasehold improvements
Intangible assets
- 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, 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 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.66.74 |
|
UK Pound |
1 |
Rs.101.36 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
42 |
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.