MIRA
INFORM REPORT
|
Report Date : |
23rd
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
EMPIRE
PLASTICS LIMITED |
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Registered Office : |
19-A,
Mira Co-Op. Industrial Estate, Western, Express Highway, Mira Road, Thane –
401104 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
17.08.1989 |
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Com. Reg. No.: |
11-90697
(New) 53079
(old) |
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CIN No.: [Company
Identification No.] |
U99999MH1989PTC053079
/ U28129MH1995PLC090697 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUME05145A |
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PAN No.: [Permanent
Account No.] |
AAACES238K |
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Legal Form : |
A
Closely held public limited liability company. |
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Line of Business : |
The
company is engaged in Technical Development and manufacturing of Plastic
Container and Caps for Pharmaceuticals and Cosmetics industry with
Decoration, Plastic Containers with caps, Hollow Plastic Balls. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
225000 |
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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 well established company having satisfactory track. General financial
position is satisfactory. Payments are reported as slow but correct. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
19-A,
Mira Co-Op. Industrial Estate, Western, Express Highway, Mira Road, Thane –
401104 |
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Tel. No.: |
91-22-28455583
/ 5525 / 5027 |
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Fax No.: |
91-22-28456841 |
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E-Mail : |
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Factory
1 : |
Survey
No. 194, Village Masat, Silvassa – 396230 |
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Tel.
No.: |
91-260-3098448 |
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Mobile
No.: |
91-9377028534 |
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Factory
2 : |
5-A,
and 6, Ankur Industrial estate, Plot No. 01, Survey No.260, Dadra, Dadra and
Nagar Haveli (UT) |
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Factory
3 : |
Survey
No. 202/2/2, Unit No. 2, Arjun Industrial Estate, Dadra, Silvassa (U T D N H)
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E-Mail
: |
91-9377012864
/ 65 |
DIRECTORS
|
Name : |
Avinash
B. Gupta |
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Designation : |
Managing
Director |
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Address : |
R –
7/12, Sapta Ratna Co-op Housing So. Limited, Sunder Nagar, S V Road, Malad
(West), Mumbai – 400034, Maharashtra, India |
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Date of Birth/Age : |
29.11.1951 |
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Date of Appointment : |
17.07.1995 |
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Name : |
Mrs.
Neelam A Gupta |
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Designation : |
Wholetime
Director |
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Address : |
R –
7/12, Sapta Ratna Co-op Housing So. Limited, Sunder Nagar, S V Road, Malad
(West), Mumbai – 400034, Maharashtra, India |
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Date of Birth/Age : |
21.05.1955 |
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Date of Appointment : |
17.07.1995 |
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Name : |
Mr.
Amit S Gupta |
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Designation : |
Wholetime
Director |
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Address : |
4B-32,
Manali, Evershine Nagar, Malad (West), Mumbai – 400064, Maharashtra, India |
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Date of Birth/Age : |
17.03.1977 |
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Date of Appointment : |
17.07.1995 |
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Name : |
Mr.
Paresh S. Zaveri |
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Designation : |
Wholetime
Director |
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Address : |
C-2,
Mewawala Apartment, ST. Mary Road, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
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Date of Birth/Age : |
23.07.1945 |
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Date of Appointment : |
17.07.1995 |
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Name : |
Mr.
Vicent P Noronha |
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Designation : |
Wholetime
Director |
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Address : |
B-13,
Parshwanath Apartment, Desai and Seth Nagar, Borivali (West), Mumbai –
400092, Maharashtra, India |
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Date of Birth/Age : |
12.07.1951 |
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Date of Appointment : |
20.12.1995 |
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Name
: |
Mr.
Kashyap C Dalal |
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Designation
: |
Director
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Address
: |
Alfardan
Group of Cvompanies, P O Box – 9948, Doha, Quttar |
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Date
of Birth/Age : |
03.06.1954 |
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Date
of Appointment : |
09.03.1996 |
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Name
: |
Mr.
Sumit S. Gupta |
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Designation
: |
Wholetime
Director |
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Address
: |
B –
601/02, Adarsh Classics, Adarsh Dughdhalay, Off. Marvey Road, Malad (West),
Mumbai – 400064, Maharashtra |
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Date
of Birth/Age : |
06.05.1979 |
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Date
of Appointment : |
04.09.2003 |
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Name
: |
Bhawani
Shanker Sharma |
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Designation
: |
Director |
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Address
: |
406,
Mehta Patel Apartment, Modi Patel Road, Bhayander (W), Mumbai – 401101,
Maharashtra, India |
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Date
of Birth/Age : |
05.12.1956 |
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Date
of Appointment : |
08.06.2004 |
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Name
: |
Mr.
Yogesh R Jani |
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Designation
: |
Director
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Address
: |
A-1, 301, Tirupati Apartment, Rajendra Complex, Off. C Road, Dahisar (E), Mumbai , Maharashtra, India |
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Date
of Birth/Age : |
04.10.1962 |
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Date
of Appointment : |
08.06.2004 |
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Name
: |
Mr.
Hareshvarshan Kaushik |
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Designation
: |
Director
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Address
: |
406,
Mehta Patel Apartment, Modi Patel Road, Bhayander (W), Mumbai – 401101,
Maharashtra , India |
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Date
of Birth/Age : |
18.04.1975 |
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Date
of Appointment : |
08.06.2004 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
|
No. of Shares |
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Patel
Bhikabhai kalabhai |
|
12500 |
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Patel
Bhikha Bhagirath |
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12500 |
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Dalal
Kashyap C. |
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200000 |
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Dalal
Ketki K. |
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100000 |
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Gupta
Amit S. |
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134000 |
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Gupta
Ashish B. |
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430910 |
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Gupta
Neelam A. |
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61000 |
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Gupta
Sumit S. |
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130000 |
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Gupta
Sushil B. |
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33300 |
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Gupta
Kiran S. |
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26400 |
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Karan
P Zaveri |
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21300 |
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Noronha
Vincent P. |
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244500 |
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Patel
Hitesh R. |
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7500 |
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Norohna
Herriet |
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10000 |
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Patel
Ila |
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25000 |
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Patel
Manjuben R. |
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25000 |
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Patel
Shobhana A. |
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12500 |
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Patel
Anil R. |
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45000 |
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Patel
Ankit Hitesh |
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32500 |
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Patel
Santosh A. |
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10000 |
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Patel
Urmila C. |
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5000 |
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Surrao
Boniface |
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8000 |
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Bhikha
Sunil |
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12500 |
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Sachin
P Zaveri |
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21400 |
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Shah
Vima |
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21400 |
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Shah
Pankaj |
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21300 |
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Zaveri
Paresh S. |
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66500 |
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Zaveri
Jyoti Paresh |
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91000 |
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BUSINESS DETAILS
|
Line of Business : |
The
company is engaged in Technical Development and manufacturing of Plastic Container
and Caps for Pharmaceuticals and Cosmetics industry with Decoration, Plastic
Containers with caps, Hollow Plastic Balls.
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Products : |
Caps
for Pharmaceuticals (Cork, Nylon, Plastic, Rubber) Plastic containers.
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PRODUCTION
STATUS
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Particulars |
Unit |
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Actual Production |
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Finished / Semi Finished Goods (Bottles, Containers, Caps and Shifters) |
Pcs. |
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91.755 |
GENERAL
INFORMATION
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No. of Employees : |
200 |
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Bankers : |
The
Malad Sahakari bank Limited, Malad Dena
Bank, Vile Parle – Mumbai Dena
Bank, Amil Branch – Silvassa ING
Vysys Bank Limited – Mira Road HDFC
Bank Limited – Silvassa |
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Facilities : |
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Banking Relations : |
Satisfactory
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Auditors : |
Ashok
Jayesh and Associates Chartered
Accountants 52-A,
Gopal mansion, Turner Road, Bandra (West), Mumbai – 400050 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
3250000 |
Equity
Shares |
Rs. 10/- each |
Rs. 32.500 millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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2387110 |
Equity
Shares |
Rs. 10/- each |
Rs. 23.871 millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
23.871 |
23.871 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
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37.997 |
32.360 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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61.868 |
56.231 |
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LOAN FUNDS |
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1] Secured Loans |
|
50.056 |
45.366 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
50.056 |
45.366 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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111.924 |
101.597 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
74.884 |
67.002 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.200 |
0.200 |
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DEFERREX TAX ASSETS |
|
10.314 |
8.720 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
18.377 |
18.975 |
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Sundry Debtors |
|
28.589 |
20.627 |
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Cash & Bank Balances |
|
2.200 |
1.487 |
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Other Current Assets |
|
0.00 |
0.000 |
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Loans & Advances |
|
4.592 |
2.754 |
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Total Current Assets |
|
53.758 |
43.843 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
21.972 |
15.199 |
|
|
Provisions |
|
5.283 |
3.013 |
|
Total Current Liabilities |
|
27.255 |
18.212 |
|
|
Net Current Assets |
|
26.503 |
25.631 |
|
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MISCELLANEOUS EXPENSES |
|
0.023 |
0.044 |
|
|
|
|
|
|
|
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TOTAL |
|
111.924 |
101.597 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
157.434 |
113.168 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
7.322 |
5.223 |
|
Provision
for Taxation |
|
|
|
|
Profit/(Loss)
After Tax |
|
5.636 |
6.418 |
|
|
|
|
|
|
Import
Value |
|
3.695 |
0.912 |
|
|
|
|
|
|
Total
Expenditure |
|
150.113 |
107.944 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
3.57 |
5.67 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
4.65 |
4.61 |
|
|
|
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|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
5.69 |
4.71 |
|
|
|
|
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|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.11 |
0.09 |
|
|
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|
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Debt
Equity Ratio (Total
Liability/Networth) |
|
|
1.24 |
1.13 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
1.97 |
2.40 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed
Assets
v
Land
v
Factory
Premises
v
Computer
v
Furniture
v
BPL
Mobiles
v
Pager
v
Cycle
v
Air
conditioner
v
Refrigerator
v
Motor
Cycle / car
v
Electrical
Install
v
Plant
v
Machinery
v
Dies
and Moulds
Operation
The
company has achieved turnover of Rs. 160.397 millions during the year under
review as against turnover of Rs. 112.418 Millions during the previous year.
net profit after tax has increased to Rs. 6.720 millions during the year under
review as against net profit after tax of Rs. 4.680 millions during the
previous year. it will be endeavour of the directors to give yet improved
performance in the coming years.
|
Name of the company |
EMPIRE PLASTICS LIMITED |
|
Presented By |
ING Vyasya
limited, Mumbai |
|
1) Date and description of instrument creating the change |
Agreement for hypothecation of Stocks in trade, Machinery, Book debts, Bills and all other movable Term loan agreement both dated 30th June 2003, and create single charge. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 65.900 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation by way of Exclusive charge on the entire stock of raw materials, stock in process finished goods, consumable stores and spares, packing, materials. Movable assets such as tools, furniture, Vehicles, computer and other movable, entire plant and machinery book debts, receivable claims bills rights to or in movable properties and movable assets both present and future and future wherever situated or in transit. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 0.5 % above PLR for CC and @ 1 % p.a. above PLR for term loan margin for OC 25 % LC / BG 10 % Cash margin in TDR. TL repayable in 16 quarterly instalment commencing form 31st July 2003, security to secure OC Rs. 30.000 millions. TL Rs. 25.000 millions ILC Rs. 10.000 millions and BG Rs. 0.9 millions with interest, cost, expenses, charge, commission etc. |
|
5) Name and Address and description of the person entitled to the charge. |
ING VYSYA bank Limited Mira Road Branch Thane |
|
6) Date and brief description of instrument modifying the charge |
Supplemental General Hypothecation agreement dated 09.02.2005 Supplemental Memorandum of Entry extension mortgage on 09.02.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The original charges dated 30.06.2003 for Rs. 65.900 millions modified on 27.2004 enhancing total charge form Rs. 65.900 millions to Rs. 71.900 millions by way of additional term loan of Rs. 6.000 millions. Further modified on 09.09.2004 enhancing the total facilities from Rs. 71.900 millions to Rs. 78.875 millions and the facilities to the extent of Rs. 78.875 millions further secured by equitable mortgage created by deposit of title deeds in respect of immovable properties situated at village Masat , Arjun Industrial estate dadra , Ankur Industrial Estate, Dadra Now further modified on 09.02.2005 reduced the total facilities form Rs. 78.875 millions to Rs. 74.675 millions consisting of CC Rs. 25.000 millions , LC Rs. 16.000 millions and equitable mortgage created on 09.09.2004 also to secured additional credit facilities together with interest, cost, expenses charges, commission etc. |
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Name of the company |
EMPIRE PLASTICS LIMITED |
|
Presented By |
ING Vyasya Bank Limited, Mumbai |
|
1) Date and description of instrument creating the change |
Agreement for hypothecation of Stocks in trade, Machinery, Book debts, Bills and all other movable Term loan agreement both dated 30th June 2003, and create single charge. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 65.900 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation by way of Exclusive charge on the entire stock of raw materials, stock in process finished goods, consumable stores and spares, packing, materials. Movable assets such as tools, furniture, Vehicles, computer and other movable, entire plant and machinery book debts, receivable claims bills rights to or in movable properties and movable assets both present and future and future wherever situated or in transit. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 0.5 % above PLR for CC and @ 1 % p.a. above PLR for term loan margin for OC 25 % LC / BG 10 % Cash margin in TDR. TL repayable in 16 quarterly instalment commencing form 31st July 2003, security to secure OC Rs. 30.000 millions. TL Rs. 25.000 millions ILC Rs. 10.000 millions and BG Rs. 0.9 millions with interest, cost, expenses, charge, commission etc. |
|
5) Name and Address and description of the person entitled to the charge. |
ING VYSYA bank Limited Mira Road Branch Thane |
|
6) Date and brief description of instrument modifying the charge |
Supplemental General Hypothecation of stock in trade, machinery, book
dents, bills and all other movable Term loan agreement Letter of renewal all dated 27.04.2004 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The original charges dated 30.06.2003 for Rs. 65.900 millions modified on 27.2004 consisting of CC Rs. 25.000 millions(Reduced form Rs. 30.000 millions), Term Loan of Rs. 25.000 millions Inland LC Rs. 10.000 millions Bank guarantee of Rs. 0.900 millions and fresh term loan of Rs. 6.000 millions. |
|
|
|
|
Name of the company |
EMPIRE PLASTICS LIMITED |
|
Presented By |
ING Vyasya Bank Limited, Mumbai |
|
1) Date and description of instrument creating the change |
Agreement for hypothecation of Stocks in trade, Machinery, Book debts, Bills and all other movable Term loan agreement both dated 30th June 2003, and create single charge. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 65.900 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation by way of Exclusive charge on the entire stock of raw materials, stock in process finished goods, consumable stores and spares, packing, materials. Movable assets such as tools, furniture, Vehicles, computer and other movable, entire plant and machinery book debts, receivable claims bills rights to or in movable properties and movable assets both present and future and future wherever situated or in transit. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 0.5 % above PLR for CC and @ 1 % p.a. above PLR for term loan margin for OC 25 % LC / BG 10 % Cash margin in TDR. TL repayable in 16 quarterly instalment commencing form 31st July 2003, security to secure OC Rs. 30.000 millions. TL Rs. 25.000 millions ILC Rs. 10.000 millions and BG Rs. 0.9 millions with interest, cost, expenses, charge, commission etc. |
|
5) Name and Address and description of the person entitled to the charge. |
ING VYSYA bank Limited Mira Road Branch Thane |
|
6) Date and brief description of instrument modifying the charge |
Supplemental General Hypothecation of stock in trade, machinery, book
dents, bills and all other movable Term loan agreement Letter of renewal all dated 27.04.2004 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The original charges dated 30.06.2003 for Rs. 65.900 millions modified on 27.4.2004 enhancing total charge form Rs. 65.900 millions to Rs. 71.900 millions by way of additional term loan of Rs. 6.000 millions. No. Further modified on 09.09.2004 enhancing the total facilities from Rs. 71.900 millions to Rs. 78.875 millions consisting of OC Rs. 29.000 millions TL I Rs. 25.000 millions Inland LC Rs. 10.000 millions IL II Rs. 6.000 millions BG Rs. 3.075 millions TL III Rs. 9.8 millions Interest on TL III @ 1.25 % above INRR P.a. present IVRR 11.25 % p.a. TL – III repayable in 16 instalments. The facilities to the extent of Rs. 78.875 millions further secured by equitable mortgage created by deposit of title deeds in respect of : Non agriculture land admeasuring 7000 sq. ft. of S. No. 193 situated at village Masat in union Territary of Dadra and Nagar haveli together with building constructed thereon. Industrial shed Unit No,. 82.639 sq. ft.super built up area of the group floor of building known as Arjun Industrial estate constructed on the land of S No. 802/2/2 of village dadra of Union Territory of Dadra Nagar Haveli with build up area of 672 sq. ft.. at the 1st Floor connected with the above industrial shed/ unit. Unit Bearing 1/5 admeasuring 1020 sq. ft. and Unit bearing 1/6 admg 2040 sq. ft. both on ground floor of the building known as Ankur Industrial estate constructed on the land of S No. 802/2/2 of village dadra of Union Territory of Dadra Nagar Haveli together with all building, structures, furniture and fixture, immovable and movable plant and machinery or installed thereon both present and future. |
|
|
|
|
Name of the company |
EMPIRE PLASTICS LIMITED |
|
Presented By |
ING Vyasya Bank Limited, Mumbai |
|
1) Date and description of instrument creating the change |
Agreement for hypothecation of Stocks in trade, Machinery, Book debts, Bills and all other movable Term loan agreement both dated 30th June 2003, and create single charge. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 65.900 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation by way of Exclusive charge on the entire stock of raw materials, stock in process finished goods, consumable stores and spares, packing, materials. Movable assets such as tools, furniture, Vehicles, computer and other movable, entire plant and machinery book debts, receivable claims bills rights to or in movable properties and movable assets both present and future and future wherever situated or in transit. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 0.5 % above PLR for CC and @ 1 % p.a. above PLR for term loan margin for OC 25 % LC / BG 10 % Cash margin in TDR. TL repayable in 16 quarterly instalment commencing form 31st July 2003, security to secure OC Rs. 30.000 millions. TL Rs. 25.000 millions ILC Rs. 10.000 millions and BG Rs. 0.9 millions with interest, cost, expenses, charge, commission etc. |
|
5) Name and Address and description of the person entitled to the charge. |
ING VYSYA bank Limited Mira Road Branch Thane |
|
6) Date and brief description of instrument modifying the charge |
Nil |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Nil |
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs. 46.40 |
|
UK
Pound |
1 |
Rs. 84.50 |
|
Euro |
1 |
Rs. 58.32 |
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 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |