MIRA INFORM REPORT
|
Report No. : |
341047 |
|
Report Date : |
14.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
LEAKLESS GASKET INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No 124, Sector 6, Growth Centre, HSIDC Bawal, Rewari 123501, Haryana |
|
Tel. No.: |
91-1284-264064 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.11.2005 |
|
|
|
|
Com. Reg. No.: |
55-035931 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.84.459 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300HR2005PTC035931 |
|
|
|
|
IEC No.: |
0506007413 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL1715D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Miscellaneous gaskets and gaskets seals, automotive
gaskets, rubber gaskets, metallic gaskets, industrial gaskets. |
|
|
|
|
No. of Employees
: |
37 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of U.S. Leakless Inc., USA. It was
incorporated during the year 2005. It has a fine track record. For the financial year 2014, the company possesses healthy operational
activity along with decent sales turnover and profitability margin of 19.1%.
Although, the company has a decrease in its profits due to appreciation of
India rupee against other currencies. It has maintained the revenue profile. The rating takes into consideration comfortable capital structure,
adequate networth position, experienced promoters and management team. It
further gets support from its holding company. Trade relations are fair. Business is active. Payment terms are
reported as regular. In view of strong holding company, it can be considered 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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Pawan Bhardwaj |
|
Designation : |
Deputy Manager - Finance |
|
Contact No.: |
91-1284-264064 / 9812001717 |
|
Date : |
12.09.2015 |
LOCATIONS
|
Registered Office / Factory : |
Plot No 124, Sector 6, Growth Centre, HSIDC Bawal, Rewari 123501, Haryana |
|
Tel. No.: |
91-1284-264064 |
|
Mobile No.: |
91-9812001717 (Mr. Pawan Bhardwaj) |
|
Fax No.: |
91-1284-264094 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
DIRECTORS
As on 31.07.2014
|
Name : |
Shinya Miyamoto |
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|
Designation : |
Director |
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|
Address : |
3-20-C-905, Naka Arai, Tokorozawa, 3590041, Japan |
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Date of Birth/Age : |
20.04.1934 |
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Date of Appointment : |
23.12.2005 |
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DIN No.: |
00503065 |
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Other Directorship :
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Name : |
Koji Homma |
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|
Designation : |
Director |
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|
Address : |
6/12,(SF), Shanti Niketan, New Delhi - 110021, India |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
12.01.1964 |
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Date of Appointment : |
30.08.2012 |
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DIN No.: |
00640301 |
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Other Directorship :
|
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|
Name : |
Akira Komatsu |
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Designation : |
Director |
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Address : |
6-24-3, Koyama, Shinagawa-Ku,Tokyo - 1420062, Japan |
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Date of Birth/Age : |
15.03.1947 |
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Date of Appointment : |
25.11.2005 |
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DIN No.: |
00729454 |
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Other Directorship :
|
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Name : |
Noriyuki Deguchi |
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Designation : |
Whole-Time Director |
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|
Address : |
Flat No F-92, Raheja Atlantis,, Sector 31, N. H. 8, Gurgaon - 122001, Haryana, India |
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Date of Birth/Age : |
31.12.1958 |
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Date of Appointment : |
30.08.2012 |
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DIN No.: |
05251839 |
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KEY EXECUTIVES
|
Name : |
Mr. Neeraj Rawat |
|
Designation : |
Company Secretary |
|
Address : |
A-128 Joshi Marg, Sanjay Nagar Jhotwara, Jaipur, 302012, Rajasthan, India |
|
Date of Birth/Age : |
09.10.1969 |
|
Date of Appointment : |
05.06.2014 |
|
PAN No. : |
AAEPR8180N |
|
|
|
|
Name : |
Mr. Pawan Bhardwaj |
|
Designation : |
Deputy Manager - Finance |
MAJOR SHAREHOLDERS
As on 31.07.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
US Leakless Inc., USA |
8361409 |
99.00 |
|
NLK Engineering , Japan |
84459 |
1.00 |
|
Total |
8445868 |
100.00 |
As on 31.07.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Miscellaneous gaskets and gaskets seals, automotive
gaskets, rubber gaskets, metallic gaskets, industrial gaskets. |
|
|
|
|
Products : |
|
|
|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
|
Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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|
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Terms : |
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Selling : |
Cash and Credit (30/60/90 Days) |
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|
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Purchasing : |
Cash and Credit (30/60/90 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users, OEMs
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No. of Employees : |
37 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Anil Shekhawat and Company Chartered Accountants |
|
Address : |
B-53, Yash Pathtilak Nagar, Jaipur, Rajasthan, India |
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PAN No.: |
ACMPK5234G |
|
|
|
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
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Holding company : |
US Leakless Inc., USA |
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|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8445868 |
Equity Shares |
Rs.10/- each |
Rs.84.459
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 |
84.459 |
84.459 |
84.459 |
|
(b) Reserves &
Surplus |
731.802 |
605.309 |
450.127 |
|
(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) |
816.261 |
689.768 |
534.586 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
31.546 |
61.516 |
159.935 |
|
(b) Deferred tax
liabilities (Net) |
31.651 |
35.539 |
46.529 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
3.073 |
2.603 |
1.967 |
|
Total Non-current
Liabilities (3) |
66.270 |
99.658 |
208.431 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
52.656 |
46.549 |
53.832 |
|
(c) Other current
liabilities |
8.797 |
6.819 |
4.405 |
|
(d) Short-term provisions |
1.845 |
1.117 |
159.197 |
|
Total Current Liabilities
(4) |
63.298 |
54.485 |
217.434 |
|
|
|
|
|
|
TOTAL |
945.829 |
843.911 |
960.451 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
340.611 |
350.298 |
340.354 |
|
(ii) Intangible Assets |
0.000 |
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 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.026 |
11.000 |
164.429 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
349.637 |
361.298 |
504.783 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
113.461 |
78.363 |
93.530 |
|
(c) Trade receivables |
167.496 |
216.262 |
217.420 |
|
(d) Cash and cash
equivalents |
291.370 |
151.252 |
112.879 |
|
(e) Short-term loans and
advances |
15.929 |
32.396 |
31.529 |
|
(f) Other current assets |
7.936 |
4.340 |
0.310 |
|
Total Current Assets |
596.192 |
482.613 |
455.668 |
|
|
|
|
|
|
TOTAL |
945.829 |
843.911 |
960.451 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
637.039 |
656.160 |
837.730 |
|
|
Other Income |
23.235 |
26.216 |
35.263 |
|
|
TOTAL |
660.274 |
682.376 |
872.993 |
|
|
|
|
|
|
|
Less |
EXPENSES |
457.848 |
452.699 |
568.375 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
229.677 |
304.618 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
20.703 |
20.905 |
20.618 |
|
|
|
(Including
Depreciation and Finance Expenses) |
(Including
Depreciation and Finance Expenses) |
(Including
Depreciation and Finance Expenses) |
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
181.723 |
208.772 |
284.000 |
|
|
|
|
|
|
|
Less |
TAX |
55.230 |
53.590 |
91.534 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
126.493 |
155.182 |
192.466 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Sale of Finished Goods |
267.872 |
304.229 |
370.854 |
|
|
Sale of Traded Goods |
31.588 |
12.516 |
89.485 |
|
|
Sale of Plant and
Machinery |
0.000 |
0.000 |
5.071 |
|
|
TOTAL EARNINGS |
299.460 |
316.745 |
465.410 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
214.079 |
178.558 |
298.903 |
|
|
Consumable Stores and
tools |
0.049 |
0.087 |
0.845 |
|
|
Capital Goods |
0.000 |
0.000 |
11.928 |
|
|
TOTAL IMPORTS |
214.128 |
178.645 |
311.676 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
14.97 |
18.37 |
22.78 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
650.000 |
The above information has been parted by Mr. Pawan Bhardwaj (Deputy Manager
– Finance).
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 |
168.867 |
161.746 |
97.920 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
19.86 |
23.65 |
22.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.21 |
24.74 |
29.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.30 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.04 |
0.09 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.42 |
8.86 |
2.10 |
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 |
84.459 |
84.459 |
84.459 |
|
Reserves & Surplus |
450.127 |
605.309 |
731.802 |
|
Net worth |
534.586 |
689.768 |
816.261 |
|
|
|
|
|
|
long-term borrowings |
159.935 |
61.516 |
31.546 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
159.935 |
61.516 |
31.546 |
|
Debt/Equity ratio |
0.299 |
0.089 |
0.039 |
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 |
837.730 |
656.160 |
637.039 |
|
|
|
(21.674) |
(2.914) |
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 |
837.730 |
656.160 |
637.039 |
|
Profit |
192.466 |
155.182 |
126.493 |
|
|
22.97% |
23.65% |
19.86% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
Note:
Registered address has been shifted from the Plot No. 78, Sector 6, IMT
Manesar, Gurgaon – 122050, Haryana, India to the present address w.e.f
04.04.2007.
FINANCIAL PERFORMANCE
The company has recorded net sales (excluding excise duty) of Rs.637.039 Million during the financial year 2013-14, as compared to Rs.656.160 Million of previous year, down by 2.91%; Profit before Tax (PBT) for the year has decreased by 12.96% to Rs.181.723 Million, as compared to Rs.208.772 Million in the previous year. The Company has earned a Profit after Tax (PAT) of Rs.126.493 Million as against Rs.155.182 Million in the previous year. The decrease in sales arises as a result of lower export orders from overseas customers. There is a reduction in profit due to higher depreciation and lower exchange gain due to appreciation of Indian rupee against other currencies.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Other Loans and advances |
31.546 |
61.516 |
|
Total |
31.546 |
61.516 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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 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.66.38 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.