MIRA INFORM REPORT
|
Report No. : |
341690 |
|
Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
MUSASHI AUTO PARTS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
UG-17C, Som Datt Chambers-1, 5 Bhikaji Cama Place, New Delhi – 110066 |
|
Tel. No.: |
91-1284-308200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.07.2002 |
|
|
|
|
Com. Reg. No.: |
55-116292 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4226.581 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300DL2002PTC116292 |
|
|
|
|
IEC No.: |
Not Available |
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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.] |
Not Available |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of transmission systems for 2 wheelers segment. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 19600000 |
|
|
|
|
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 Musashi Seimitsu Industry Co. Ltd., Japan.
It was established in the year 2002 and engaged in the manufacturing and selling
of automotive components. Company has registered moderate operational activity and reported huge
losses during FY 2014. The rating derives the strength from company’s decent sales turnover
along with good top line growth. It has healthy financial risk profile marked
by strong net worth position. The company receives strong financial and managerial support from its
holding company. Trade relations are reported as fair. Business is active. Payment are
slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Sandeep Sharma |
|
Designation : |
Financial Controller |
|
Contact No.: |
91-1284-308200 |
|
Date : |
18.09.2015 |
LOCATIONS
|
Registered Office : |
UG-17C, Som Datt Chambers-1, 5 Bhikaji Cama Place, New Delhi – 110066,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Sy. Nol. 52/1, 52/2 P, 53P, 54/1P,55,56, 61/1, 61/2, 61/3, 62/1 and
62/2 Doddaballapura 3rd Phase Industrial Area, Village –
Raghunathpura, Hobli-Kasaba, Taluk-Doddaballarpura, District-Bangalore Rural
Karnataka 561203, India |
|
|
|
|
Factory 2 : |
Plot No. 33-35 and 46-60, Sector – 7, Industrial Growth Centre, Bawal Distt.
Rewari – 123501, Haryana, India |
|
Tel. No.: |
91-1284-308200 |
|
Fax No.: |
91-1284-264016 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Koji Horibe |
|
Designation : |
Managing Director |
|
Address : |
Flat No. G212, Park Heights Park Place, DLF Phase-V, Gurgaon – 122002,
Haryana, India |
|
Date of Birth/Age : |
23.03.1960 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06533726 |
|
|
|
|
Name : |
Mr. Sandeep Kalia |
|
Designation : |
Director |
|
Address : |
D-6/8, Ground Floor, Exclusive Floors, DLF City – V, Gurgaon – 12002,
Haryana, India |
|
Date of Birth/Age : |
21.08.1962 |
|
Date of Appointment : |
27.05.2008 |
|
DIN No.: |
02175265 |
|
|
|
|
Name : |
Kenji Morisaki |
|
Designation : |
Director |
|
Address : |
Flat VF 606, Purva, Venezia Yelahanka
New Town Bangalore – 560064, Karnataka, India |
|
Date of Birth/Age : |
21.11.1966 |
|
Date of Appointment : |
07.09.2012 |
|
DIN No.: |
05233243 |
|
|
|
|
Name : |
Akihiro Matsui |
|
Designation : |
Director |
|
Address : |
Icon E-42, Icon DLF Phase, Gurgaon – 122018, Haryana, India |
|
Date of Birth/Age : |
22.10.1962 |
|
Date of Appointment : |
07.09.2012 |
|
DIN No.: |
06380502 |
|
|
|
|
Name : |
Tadaharu Imoto |
|
Designation : |
Director |
|
Address : |
L-184, DLF Park Place, DLF Phase -
V, Gurgaon – 122011, Haryana, India |
|
Date of Birth/Age : |
27.01.1965 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
03610267 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Kumar Gupta |
|
Designation : |
Secretary |
|
Address : |
VPO Kund, District – Rewari - 123102, Kund, India |
|
Date of Birth/Age : |
08.10.1976 |
|
Date of Appointment : |
10.11.2011 |
|
PAN No.: |
AHMPG1914G |
|
|
|
|
Name : |
Mr. Sandeep Sharma |
|
Designation : |
Financial Controller |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Musashi Seimitsu Industry Company Limited, Japan |
|
28585647 |
|
Kyushu Musashi Seimitsu Company Limited, Japan |
|
2000 |
|
Total |
|
28587647 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
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 transmission systems for 2 wheelers segment. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
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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) |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
S.R. Baitliboi and Company LLP Chartered Accountants |
|
Address : |
1st floor, Tower A, Building- 8, DLF Cyber City, Phase-II, Sector-25, Gurgaon, 122002, Haryana, India |
|
PAN No.: |
ACHFS9180N |
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|
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
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Fellow subsidiaries
: |
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CAPITAL STRUCTURE
After 26.09.2014
Authorised Capital: Rs.7000.000 Million
Issued, Subscribed & Paid-up Capital: Rs.4226.581 Million
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000000 |
Equity Shares |
Rs.100/- each |
Rs. 7000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38932474 |
Equity Shares |
Rs.100/- each |
Rs. 3893.247
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 |
3893.247 |
2858.765 |
1996.696 |
|
(b) Reserves & Surplus |
2990.770 |
2692.626 |
2111.973 |
|
(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) |
6884.017 |
5551.391 |
4108.669 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1666.088 |
1476.219 |
1235.854 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
41.079 |
139.539 |
0.000 |
|
(d) long-term
provisions |
32.835 |
50.554 |
12.290 |
|
Total Non-current
Liabilities (3) |
1740.002 |
1666.312 |
1248.144 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1635.000 |
2070.688 |
1500.259 |
|
(b) Trade
payables |
2053.575 |
1299.617 |
821.823 |
|
(c) Other current
liabilities |
2014.039 |
2702.847 |
825.333 |
|
(d) Short-term
provisions |
4.643 |
10.117 |
0.399 |
|
Total Current
Liabilities (4) |
5707.257 |
6083.269 |
3147.814 |
|
|
|
|
|
|
TOTAL |
14331.276 |
13300.972 |
8504.627 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
9791.245 |
7027.004 |
3812.230 |
|
(ii)
Intangible Assets |
4.480 |
2.718 |
3.403 |
|
(iii)
Capital work-in-progress |
371.120 |
3002.193 |
2375.905 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
31.865 |
25.492 |
25.492 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
45.187 |
|
(d) Long-term Loan and Advances |
231.121 |
356.907 |
191.394 |
|
(e) Other
Non-current assets |
0.025 |
5.489 |
0.000 |
|
Total Non-Current
Assets |
10429.856 |
10419.803 |
6453.611 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1123.023 |
860.720 |
599.590 |
|
(c) Trade
receivables |
1269.588 |
793.884 |
681.127 |
|
(d) Cash
and cash equivalents |
225.435 |
76.673 |
24.472 |
|
(e)
Short-term loans and advances |
1282.120 |
1147.951 |
745.677 |
|
(f) Other
current assets |
1.254 |
1.941 |
0.150 |
|
Total
Current Assets |
3901.420 |
2881.169 |
2051.016 |
|
|
|
|
|
|
TOTAL |
14331.276 |
13300.972 |
8504.627 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
8283.303 |
5577.489 |
4255.488 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL INCOME |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
890.844 |
526.673 |
780.136 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
369.609 |
262.554 |
91.475 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
521.235 |
264.119 |
688.661 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2180.100 |
1214.457 |
508.060 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(1658.865) |
(1102.092) |
180.601 |
|
|
|
|
|
|
|
Less |
TAX |
8.506 |
(44.813) |
6.971 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(1667.371) |
(1057.279) |
173.630 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(58.32) |
(36.98) |
6.07 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
10000.000 |
|
|
|
|
|
The above information has been parted by Mr. Sandeep Sharma (Finance
Controller)
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) operation |
326.986 |
1093.702 |
180.601 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(18.90) |
(18.96) |
4.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
10.10 |
9.44 |
18.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.91) |
(10.73) |
2.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.24) |
(0.20) |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.48 |
0.64 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.68 |
0.47 |
0.65 |
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 |
1996.696 |
2858.765 |
3893.247 |
|
Reserves & Surplus |
2111.973 |
2692.626 |
2990.770 |
|
Net
worth |
4108.669 |
5551.391 |
6884.017 |
|
|
|
|
|
|
long-term borrowings |
1235.854 |
1476.219 |
1666.088 |
|
Short term borrowings |
1500.259 |
2070.688 |
1635.000 |
|
Total
borrowings |
2736.113 |
3546.907 |
3301.088 |
|
Debt/Equity
ratio |
0.666 |
0.639 |
0.480 |
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 |
4255.488 |
5577.489 |
8283.303 |
|
|
|
31.066 |
58.195 |
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 |
4255.488 |
5577.489 |
8283.303 |
|
Profit |
173.630 |
(1057.279) |
(1667.371) |
|
|
4.08% |
(18.96%) |
(18.90%) |
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 |
Yes |
|
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 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 |
PERFORMANCE:
Financial Year 2013-14witnessed further expansion of operations of the Company. Sales have increased by Rs.2706.000 Million in 2013-14 from Rs.5577.000 Million to Rs.8283.000 Million. The Company achieved the growth of 49% in sales in Financial Year 2013-14 as compared to the previous year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Foreign currency term loans from banks |
1036.088 |
775.856 |
|
Rupee term loans from banks |
630.000 |
700.000 |
|
SHORT TERM
BORROWING |
|
|
|
Term loans from banks |
1635.000 |
2070.688 |
|
Total |
3301.088 |
3546.544 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Factory equipment’s
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment’s
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.66.75 |
|
UK Pound |
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.74.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
JYO/GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
41 |
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.