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|
MIRA INFORM REPORT
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Report No. : |
493998 |
|
Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
KYB MOTORCYCLE SUSPENSION INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No: 6, SIPCOT Industrial Park, Vallam Vadagal Village, Sriperumbudur Taluk, Kancheepuram-631604, Tamilnadu |
|
Tel. No.: |
91-44-30124311 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
11.12.2012 |
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|
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Com. Reg. No.: |
18-088875 |
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Capital
Investment / Paid-up Capital : |
INR 1261.000 Million |
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|
|
CIN No.: [Company Identification
No.] |
U34100TN2012FTC088875 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAFCK0007K |
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GST No.: |
33AAFCK0007K1ZY |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Manufacturing and Assembling of Suspension Parts, Shock Absorbers, Steering Dampers, Rear Components and other related Ancillary Accessories for Vehicles. [Registered Activity] |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 2226000 |
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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 “KYB Corporation Ltd”, Japan. The company was incorporated in the year 2012. It is an Manufacturing and Assembling of Suspension Parts, Shock Absorbers, Steering Dampers, Rear Components and other related Ancillary Accessories for Vehicles. For the financial year ended 2017, the company has achieved 78.62% growth in its revenue as compared to previous year revenue but has incurred operational loss. The moderate financial profile of the company is marked by negative reserve base along with negligible debt level. However, Rating takes into consideration strong financial and managerial support that the company receives from its holding entity backed by its well experienced management team. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 26.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
LOCATIONS
|
Registered Office : |
Plot No: 6, SIPCOT Industrial Park, Vallam Vadagal Village, Sriperumbudur Taluk, Kancheepuram-631604, Tamilnadu, India |
|
Tel. No.: |
91-44-30124311 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Masahiro Inoue |
|
Designation : |
Director |
|
Address : |
Urban Life Unit No 204, 1100-1 Youzu Cho Minami-Ku, , Shizuoka Pref Hamamatsu City 4300855, Japan |
|
Date of Birth/Age : |
25.03.1959 |
|
Qualification : |
Professional |
|
Date of Appointment : |
02.10.2013 |
|
DIN No.: |
06691745 |
|
|
|
|
Name : |
Mr. Shigeru Oshita |
|
Designation : |
Director |
|
Address : |
719-58 Mukasa Nishi, Iwata Shizuoka-4380014, Japan |
|
Date of Birth/Age : |
23.06.1957 |
|
Qualification : |
Professional |
|
Date of Appointment : |
09.07.2015 |
|
DIN No.: |
07236580 |
|
|
|
|
Name : |
Mr. Shinichi Sugioka |
|
Designation : |
Director |
|
Address : |
4-62 Nijigaoka Kani-City Gifu Gifu 5090207, Japan |
|
Date of Birth/Age : |
12.01.1963 |
|
Qualification : |
Professional |
|
Date of Appointment : |
01.04.2016 |
|
DIN No.: |
07475668 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 02.08.2017
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
KYB Corporation, Japan |
83976000 |
66.59 |
|
Yamaha Motor Co., Limited, Japan |
42124000 |
33.41 |
|
|
|
|
|
Total |
126100000 |
100.00 |
AS ON: 02.08.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
66.59 |
|
Public/Other than promoters - Body Corporate |
33.41 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturing and Assembling of Suspension Parts, Shock Absorbers, Steering Dampers, Rear Components and other related Ancillary Accessories for Vehicles. [Registered Activity] |
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Products : |
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Brand Names : |
“KYB” |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Auditors : |
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|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
No.10,
Mahatma Gandhi Road, Nungambakkam, Chennai-600034, Tamilnadu, India |
|
PAN No.: |
AAIFB7355D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
KYB Corporation, Japan (Formerly known as Kayaba Industry Co. Limited, Japan) |
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|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives: |
Yamaha Motor Co. Limited, Japan |
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|
|
Fellow Subsidiary company : |
· Wuxi KYB Top Absorber Co Limited · KYB (China) Investment Co. Limited · KYB Asia Company Limited, Thailand · KYB Conmat India Private Limited · KYB Motorcycle Suspension Company Limited, Japan · Conmat India Private Limited [U29248GJ2007PTC052381] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
126100000 |
Equity Shares |
INR 10/- each |
INR 1261.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
126100000 |
Equity Shares |
INR 10/- each |
INR 1261.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1261.000 |
1261.000 |
1261.000 |
|
(b) Reserves and Surplus |
(481.863) |
(336.170) |
(58.274) |
|
(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) |
779.137 |
924.830 |
1202.726 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
643.173 |
653.387 |
427.804 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.050 |
|
(d) long-term
provisions |
5.353 |
0.916 |
21.989 |
|
Total Non-current
Liabilities (3) |
648.526 |
654.303 |
449.843 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
190.000 |
190.000 |
90.000 |
|
(b) Trade
payables |
77.450 |
51.725 |
16.600 |
|
(c) Other
current liabilities |
13.685 |
25.844 |
147.601 |
|
(d) Short-term
provisions |
0.445 |
0.692 |
0.067 |
|
Total Current
Liabilities (4) |
281.580 |
268.261 |
254.268 |
|
|
|
|
|
|
TOTAL |
1709.243 |
1847.394 |
1906.837 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1395.137 |
1491.793 |
133.298 |
|
(ii)
Intangible Assets |
0.215 |
0.434 |
0.388 |
|
(iii) Tangible assets
capital work-in-progress |
0.245 |
1.111 |
1297.830 |
|
(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 loans and advances |
32.409 |
39.136 |
72.894 |
|
(e) Other
Non-current assets |
1.202 |
1.101 |
1.028 |
|
Total Non-Current
Assets |
1429.208 |
1533.575 |
1505.438 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
88.887 |
26.945 |
1.813 |
|
(c) Trade
receivables |
41.648 |
71.372 |
0.000 |
|
(d) Cash and
bank balances |
97.701 |
140.743 |
360.623 |
|
(e) Short-term
loans and advances |
51.760 |
73.937 |
37.752 |
|
(f) Other
current assets |
0.039 |
0.822 |
1.211 |
|
Total
Current Assets |
280.035 |
313.819 |
401.399 |
|
|
|
|
|
|
TOTAL |
1709.243 |
1847.394 |
1906.837 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
836.871 |
468.530 |
0.000 |
|
|
Other Income |
5.187 |
58.706 |
31.814 |
|
|
TOTAL |
842.058 |
527.236 |
31.814 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
584.508 |
342.966 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(41.125) |
(3.620) |
0.000 |
|
|
Employee benefit expense |
97.090 |
82.636 |
30.387 |
|
|
Other expenses |
167.106 |
165.826 |
47.638 |
|
|
TOTAL |
807.579 |
587.808 |
78.025 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
34.479 |
(60.572) |
(46.211) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
74.052 |
100.024 |
0.534 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(39.573) |
(160.596) |
(46.745) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
106.120 |
117.300 |
2.171 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(145.693) |
(277.896) |
(48.916) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
9.611 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(145.693) |
(277.896) |
(58.527) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(1.16) |
(2.20) |
(0.54) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(145.693) |
(277.896) |
(48.916) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(145.693) |
(277.896) |
(48.916) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
18.16 |
55.60 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
20.09 |
6.56 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
48.36 |
55.05 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.39 |
(2.25) |
(25.49) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.02 |
(0.04) |
(0.03) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.54 |
0.50 |
0.36 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.07 |
0.91 |
0.43 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.36 |
0.29 |
0.21 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.79 |
1.61 |
1.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.47 |
(0.61) |
(86.54) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(17.41) |
(59.31) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(8.52) |
(15.04) |
(3.07) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(18.70) |
(30.05) |
(4.87) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.99 |
1.17 |
1.58 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.68 |
1.07 |
1.57 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.46 |
0.50 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.66 |
0.67 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.99 |
1.17 |
1.58 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
1261.000 |
1261.000 |
1261.000 |
|
Reserves & Surplus |
(58.274) |
(336.170) |
(481.863) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1202.726 |
924.830 |
779.137 |
|
|
|
|
|
|
Long-term borrowings |
427.804 |
653.387 |
643.173 |
|
Short term borrowings |
90.000 |
190.000 |
190.000 |
|
Total
borrowings |
517.804 |
843.387 |
833.173 |
|
Debt/Equity
ratio |
0.431 |
0.912 |
1.069 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
0.000 |
468.530 |
836.871 |
|
|
|
0.000 |
78.616 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
0.000 |
468.530 |
836.871 |
|
Profit/ (Loss) |
(58.527) |
(277.896) |
(145.693) |
|
|
0.000 |
(59.31
%) |
(17.41
%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO CHARGES
EXISTS FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other external commercial borrowings |
643.173 |
653.387 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
190.000 |
190.000 |
|
|
|
|
|
Total |
833.173 |
843.387 |
COMPANY OVERVIEW
Subject was incorporated on December 11, 2012 as per the provisions of the Companies Act, 1956. The Company is a subsidiary of KYB Corporation, Japan. The Company is engaged in the manufacture of motorcycle front fork and rear cushion unit.
BRIEF DESCRIPTION OF THE COMPANY’ S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIR
Subject
(hereafter referred as ‘the Company’) was incorporated on 11th
December 2012 and is engaged in manufacturing, producing, assembling, buying,
selling, processing, vulcanizing, importing and such other processing of
suspension parts, shock absorbers, steering dampers, rear components and other
related ancillary accessories for vehicles as set forth in the Memorandum.
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Office equipment
· Computer equipments
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
|
INR |
|
US Dollar |
1 |
INR 64.82 |
|
UK Pound |
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.