Attachment 1
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Report Update On |
15th January, 1999 |
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Report on |
AIR COOL CORPORATION |
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Registered Office |
D-11, Sector 10, Noida – 201 301, Uttar Pradesh, India |
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Tel. No. |
91-11-529 662 / 529 330 / 552 667 |
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Fax No. |
-- |
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E-Mail |
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Telex |
-- |
Attachment 2
S U M M A R Y
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Incorporated |
1995 |
Status |
Moderate |
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Registration No. |
-- |
Chief Executive |
Kamal Gupta |
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Capital (Rs.) |
0.400 million |
Payments |
Usually Correct |
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Sales (Rs.) |
10.000 millions |
Litigation |
-- |
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Net Worth (Rs.) |
-- |
Banking Reputation |
Satisfactory |
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No. of Employees |
12 |
Auditors |
-- |
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Credit Rating |
Ba (See attachment 3) |
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INDUSTRY
With the domestic turnover at Rs. 5.8 billion the Aircon (A/C) segment is the smallest in the consumer durable industry. Its small size is a deterrent for the entry of multinationals. But almost all MNCs plant to make forays into the segment once they streamline the operating systems in other segments of consumer durables. Inspite of the small size, the Aircon industry has been lucrative for the small number of Companies operating in the domestic market.
Yearly growth rates have been in excess of 30 %. Some of the established players in the domestic arena are carrier Aircon, Voltas and Blue Star. The entire A/C market can be divided into room A/C and central A/C segments. Room A/Cs comprise nearly half the total demand for A/Cs, with central A/Cs accounting the rest of the demand. Carrier Aircon is the market leader in the room A/C segment and Blue star leads in the central A/C segment. A large unorganised sector also operates in the domestic room A/C market. In fact, the unorganised sector meets nearly half the total domestic demand for room A/Cs. In the budget for Financial year – 1998, the excise duty rate have been cut from 40 % to 30 %. As a result, the retail price of room A/Cs charged by the organised sector has come down, and is only around 22 % more than the price charged by the unorganised sector.
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FACTORY
Not applicable
BRANCH
Nil
HISTORY
Subject was established in December 1995 at Noida in Uttar Pradesh as a Sole Proprietory concern.
LEGAL FORM
It is a Sole Proprietorship Concern.
SOLE PROPRIETOR
Kamal Gupta
[Qualification
– Degree in Electrical Engineering; Experience – 18 years as Dealers of Various
Companies]
BUSINESS
The concern is engaged in marketing, sales & service activities.
The agencies held by the concern are :
K Carrier Aircon Limited
K Honda Siel Power Products Limited
K HCL Limited
K Zenith Computers
K Sidwal Refrigeration Industries Limited
The concern is in trade terms with :
K Carrier Aircon Limited, 40, Shahpur, New Delhi
The concern operates from a caption rented office premises of 2,500 sq.ft.
SISTER CONCERNS
Nil
MEMBERSHIPS
K AMIC
K NEA
K Lions Club
BANKERS
K Dena Bank, Noida
K State Bank of Patiala, Noida
FINANCIAL INFORMATION
[figures are in Rupees Millions]
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PARTICULARS |
31.03.1998 |
31.03.1997 |
31.03.1996 |
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Capital Investment |
0.4 |
NA |
NA |
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Annual Turnover |
10.0 |
6.0 |
1.0 |
COMMENTS
Subject is a small proprietory concern. Proprietor of the concern is respectable, experienced and having satisfactory means of his own. His trade relations are fair. Payments are reported as correct and as per commitments.
Maximum credit upto USD 1,860 can be granted.
Attachment 3
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SCORE SHEET |
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SCORE |
CREDIT RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to
meet normal commitments. Maybe drawn to slightly difficult position as
unfavourable conditions arise. Minimal assurance for timely payment on
interest and principal sums |
Moderate |
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26-40 |
B |
Unfavourable & favourable factors carry similar
weight in credit consideration. Capability to overcome financial difficulties
seems comparatively limited or considered not known. Capability to pay both
interest and principal sums is doubtful |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit
not recommended |