MIRA
INFORM REPORT
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Report Date : |
04.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
LIPI
DATA SYSTEMS LIMITED |
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Registered Office : |
1, Mittal Chambers,
Nariman Point, Mumbai – 400 021, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
13.05.1992 |
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Com. Reg. No.: |
11-66759 |
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CIN No.: [Company
Identification No.] |
U36007MH1992PLC066759 |
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Legal Form : |
Closely Held Public Limited Liability
Company |
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Line of Business : |
Manufacturing, Importing, Exporting and
Trading of Computer Peripherals. |
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
1250000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track records. Directors
are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Payments are usually correct and as per
commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
1, Mittal Chambers,
Nariman Point, Mumbai – 400 021, Maharashtra, India |
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Tel. No.: |
91-22-2288 2960 / 2961 / 2962 / 2963 |
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Fax No.: |
91-22- 2287 3314 |
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E-Mail : |
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Website : |
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Factory
: |
Mewar Industrial Area, Madri, Udaipur – 313 001, Rajasthan |
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Tel.
No.: |
91-294-2492400 |
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Fax
No.: |
91-294-2492409 |
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Depot
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Unit No. 53-56, Building No. 1, Electronic Sadan, T. T. C. Industrial
Area, MIDC, Mahape, Thane, Navi Mumbai, Maharashtra |
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Tel.
No.: |
91-22-27680030 |
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Fax
No.: |
91-22-27670054 |
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Branches
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Located at:- New Delhi, Bangalore, Chennai, Kolkata,
Ahmedabad, Aurangabad, Baroda, Belgaum, Bhopal, Calicut, Kochi, Chandni,
Coimbatore, Nagpur, Surat, Nashik, Hadapsar, Thane, Jamshedpur, Jaipur,
Kanpur, Kolhapur, Lucknow, Mangalore, Trichy, Vishakhapatnam |
DIRECTORS
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Name : |
Mr. Piyush Singhal |
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Designation : |
Chairman & Managing Director |
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Name : |
Mr. Mukul Singhal |
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Designation : |
Director |
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Name : |
Mr. Sameer Singhal |
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Designation : |
Director |
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Name : |
Mr. Vivek Singhal |
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Designation : |
Director |
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Name : |
Ms. Manjula Singhal |
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Designation : |
Director |
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Name
: |
Mr. P. N. Shah |
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Designation
: |
Director |
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Name
: |
Mr. M. M. Deshmukh |
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Designation
: |
Director |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Chemical Industries Limited |
3150000 |
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Samuk Holdings Private Limited |
640000 |
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Mr. Piyush Singhal |
640000 |
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Mr. Mukul Singhal |
640000 |
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Mr. Sameer Singhal |
640000 |
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Ms. Sunita Singhal |
640000 |
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Mr. Vivek Singhal |
0 |
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Chemical Industries Limited |
20 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Importing, Exporting and Trading of Computer Peripherals. |
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Products : |
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Agencies Held : |
Data Products Group Hitachi-Koki, Japan Tally Limited Printer Systems International (PSI), Germany - for impact and non-impact printers PBTI, United Kingdom - for Laser Toner Cartridge |
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Exports to : |
Singapore,
Malaysia, Australia, Ireland, Germany, Italy and U.S.A. |
PRODUCTION
STATUS
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Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Line Printers |
Nos. |
27200 |
27200 |
3043 |
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Sub Assembly |
Nos. |
100000 |
100000 |
-- |
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Cartridges |
Nos. |
100000 |
100000 |
7144 |
GENERAL
INFORMATION
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No. of Employees : |
450 |
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Bankers : |
Canara Bank The Bank of Rajasthan Limited |
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Facilities : |
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Banking Relations : |
Good |
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Auditors : |
M. Bhandari & Company Chartered Accountants, Beawar, Rajasthan, India |
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Associates : |
Chemicals International Limited, New Delhi Samuk Holding Private Limited, Mumbai P. P. Singhal & Company, Mumbai Computronics International [India] Limited, New Delhi Chemicals International Mumbai Private Limited, New Delhi Lipi
Infosoft Limited Lipi Infosoft Limited has development centers in Navi Mumbai and Udaipur in India and San Jose in USA. The company is into developing Device Drivers, Embedded software solutions, E commerce solutions, Client / Server solutions for Small and Medium Enterprises and Software maintenance. Website : http://www.lipiinfosoft.com Singhal
Pesticides, Agra Singhal Pesticides, Agra was established in 1966. The manufacturing facilities are situated in the populous state of Uttar Pradesh ( U.P.), which is extremely rich in agricultural and farm produce. The formulating unit is located on a 25,000 square meter plot with a covered area of over 4,600 square meters. Singhal Pesticides, which manufactures agrochemicals mainly for the market in U.P. over the past 25 years , has earned a big reputation among the farmers for the range and quality of its products. Website : http://www.singhalpesticides.com Computronics
Financial Services (India) Limited Computronics Financial Services (India) Limited is among the first five companies to get registered with SEBI as category I Registrars to issue and Share Transfer Agents. Having spent the last 25 years gaining professional expertise, CSFL has now attained a quality level comparable with the best in the industry. Something, which has received widespread appreciation and accolades from our client companies and investors. CSFL is among the few registrars having extensive expertise in handling open ended schemes of Mutual Funds. Website : http://www.computronicsindia.com |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs.10/-
each |
Rs.
100.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
6350000 |
Equity Shares |
Rs.10/-
each |
Rs.
63.500 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
63.500 |
63.500 |
63.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
309.696 |
271.245 |
209.200 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
373.196 |
334.745 |
272.700 |
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LOAN FUNDS |
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1] Secured Loans |
36.967 |
37.015 |
60.300 |
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2] Unsecured Loans |
1.596 |
10.540 |
31.800 |
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TOTAL BORROWING |
38.563 |
47.555 |
92.100 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
411.759 |
382.300 |
364.800 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
105.389 |
103.474 |
93.500 |
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Capital work-in-progress |
3.333 |
0.000 |
0.000 |
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INVESTMENT |
16.897 |
46.576 |
15.800 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
139.764
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116.047
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136.600
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Sundry Debtors |
169.046
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129.747
|
140.700
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Cash & Bank Balances |
72.528
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62.733
|
47.100
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
28.846
|
26.904
|
70.700
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Total Current Assets |
410.184
|
335.431 |
395.100
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
124.044
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103.200
|
139.600 |
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Total Current Liabilities |
124.044
|
103.200 |
139.600
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Net Current Assets |
286.140
|
232.231 |
255.500
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MISCELLANEOUS EXPENSES |
0.000 |
0.019 |
0.000 |
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TOTAL |
411.759 |
382.300 |
364.800 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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Sales Turnover [including other income] |
731.915 |
1067.813 |
686.400 |
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Profit/(Loss)
Before Tax |
54.179 |
87.629 |
55.900 |
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Provision
for Taxation |
17.500 |
21.000 |
20.000 |
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Profit/(Loss)
After Tax |
36.679 |
66.629 |
35.900 |
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Total
Expenditure |
677.736 |
980.184 |
630.500 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
5.01 |
6.23 |
5.23 |
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Net
Profit Margin (PBT/Sales) |
(%) |
7.40
|
8.20 |
8.14 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
10.50
|
19.96 |
11.44 |
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Return
on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.26 |
0.20 |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
0.43
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0.45 |
0.84 |
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Current
Ratio (Current
Asset/Current Liability) |
|
3.30
|
3.25 |
2.83 |
LOCAL AGENCY
FURTHER INFORMATION
BUSINESS
OPERATIONS :
During
the year, the revenue of the company closed at 730.200 millions, as against
1072.700 millions in the previous year, registering a decline of 32%. The revenue from Sales & Services are
placed at Rs. 718.800 millions, as against Rs. 1058.900 millions in the
previous year, registering a decline of 32%.
The sales and services revenue in the current year cannot be compared
with the previous year because of execution of one time bulk order received
from one of the public sector bank for Rs. 400 millions approx. Excluding the exceptional bulk order, the
current year sales and service revenue shows a marginal increase of 18%. The income from services namely AMC has
reasonably grown but is however below the expectation due to competition coupled
with enhanced warranty terms. Further company
is taking active steps to increase the base thereby revenue.
The
Directors wish to inform that profit before tax is placed at Rs. 54.200
millions as against Rs. 87.600 millions in the previous year. The current year net profit cannot be
compared with the last year due to the reasons mentioned above. The directors are actively taking the steps
to increase volume thereby profits of the company. Having regard to the circumstances the directors are of the
opinion that current year results are satisfactory.
The
directors would like to state that due to the globalization, the IT hardware
industry is facing fearceful competition coupled with increase in the cost and
inability to increase the price has put tremendous pressure on margins. The directors would like to state that in
spite of the above factors company has done well due to over all cost control
and operational efficiency.
During
the current year the directors expect that performance of company will show
reasonable growth in volume and correspondingly profits from the business.
EXPANSION
:
With a
view to reap the benefit and seize the opportunities of globalization, the
directors have thought to expand the product base either by manufacturing or
taking trading agencies of the well known multinational companies. They have taken distributorship of renowned
multinational companies for marketing their Laser Printers, Thermal Printers
and Scanners.
The
Board has thought that it is advisable to set up a unit at Badi a backward
industrial zone in Himachal Pradesh to manufacture new range of products. The unit will be eligible for Excise, Sales
Tax and Income Tax benefit. The
industrial shed has been taken on rent and orders for equipment and machinery
have been placed and received. The
production at Badi has started effective from 26.05.2005.
AWARDS :
9th
consecutive year retained their position of “TOP INTERNATIONAL DISTRIBUTOR”
2004 from Tally Genicom.
Generic Names of Principal Products/Services of the company’s are :-
Ř Line Printers
Ř Spare and Accessories
Ř High Speed Heavy Duty Printer
Ř Continuous Stationery
Ř LaserJet Printers
Ř Laser Inkjet Printers for continuous stationary
Ř Bank Passbook Printers
Ř Remanufacture of used toner
Ř Cartridges for laser printers and photocopies of all brands and makes
Award for Excellence in Electronics 1998 received from Government of India, Ministry of Information Technology, New Delhi received on 11th August, 2000.
The company’s fixed assets of important value include leasehold land, factory building, plant & machinery, computer and office vehicles.
WEBSITE
DETAILS
Tapping an unexplored
realm of business opportunities marks the beginning of any far-sighted business
idea. When the Division of Chemical International ventured into
diversification, it was also into one such area - engineering of Heavy Duty,
High speed Computer Line Printers.
Thus, was born Lipi Data Systems Limited, in 1986 - a time when only
International Computer Giants like IBM and ICL were present in India.
Adjusting to ever
changing business environment and prevailing market situation, Lipi took
advantage of the technology license from Data products Corporation of U.S.A and
Tally, Germany (both the companies are world leaders in the field of High Speed
Computer Printers) and put the right foot forward, capturing the top slot in
high speed printing arena.
Lipi has built a
reputation for its vast range of high speed heavy duty line printers, dot
matrix printers, fanfold laser printers and printer suppliers. In fact, Lipi
printers are sold along with all leading computer systems. Its list of
customers comprises top Indian OEMs, various government houses and corporate
sectors such as banking and finance, airline, insurance, automobile, etc.
Lipi has, over the last 15 years gained the distinction of being the pioneer in
its chosen segment.
Their Resources & Strengths
Market Leader in Heavy
Duty High Speed Computer Line Printers
Amongst the TOP 5
Computer Peripherals Companies in India today
Solid Experience -
Commenced Production of Computer Printers in 1986
Dynamic and Innovative
Management Team
Strong Financial Base
Proven Ability to
Assimilate Sophisticated Technology
Excellent R&D
Facilities to ensure International Standards
Excellent Reputation
for Quality of Products and Services
Effective Manufacturing
Infrastructure
Experience in Export
Computer Line Printers
Holds ISO 9001 and ISO
9002 Certificate Awards Under Various Catagories
Follows Japanese
Management Concepts like Kaizen and JIT apart from Six Sigma
Contract Manufacturing
Electromechanical/Electronics
Products.
Lipi has following major strengths related to assimilation of sophisticated
technology
Dynamic and Innovative
Management
Ability to Achieve
International Standards
Capacity for
Indigenisation of Foreign Technology for Adaptation to local requirements
Effective
Manufacturing Infrastructure
Capability of handling
flexible volumes
Quest for six sigma
quality standards to strengthen ISO9001, TQM, Kaizen and ISO14000
Lipi's infrastructure
now spreads to 4 manufacturing sites -
Udaipur 60,000 sq. ft.
New Bombay 30,000 sq. ft.
Pondicherry 6000 sq. ft.
Himachal Pradesh 20,000 sq. ft.
Suitable for
Electronics/IT Industry. It has a work force of over 600 people with Sales
& Service network located at over 90 locations covering all major cities of
the country.
Lipi Data Systems
Limited can organize contract manufacturing on the following Lines :
Design - Hardware and
Software
Parts Procurement
Inventory Management
Prototype/Pilot
Production
Low/High volume
Production
Functional and
Environment Testing
Warranty Repairs
LIPI has a complete
manufacturing facility including SMT line to undertake Contract Manufacturing
of Printed Circuit Board (PCB) Assemblies. Expertise exists in all three types:
Through-hole, SMT and Mixed Technology based PCB Assemblies.
With Gerber files/
artworks or inputs, LIPI provides a total solution from Fabricated PCB's to
component assembly and final testing. This avoids outsourcing of so many
components and related items from different vendors. The PCB Assemblies are
supplied in anti-static packaging wherever applicable.
Their excellent vendor
base developed over past several years has resulted in good quality and shorter
time cycle. They can take up following job work assignment as per
specifications demanded.
Sheet Steel/Press
Components
Machined/Turned
Components
Die Cast Components
Plastic/Rubber Molded
Items
Springs
Wire Forms
Glass Fiber Items
Jigs & Fixtures
Wire Harness
PCB Assembly:
One Stop shopping for
Electromechanical / PCB Assemblies
PCB fabrication from
Gerber files/ artworks
Global Sourcing of
Components
Through-hole/ SMD/
Mixed type of Components Assembly (Stuffing)
Double sided mounting
of Components
Functional Testing
(Test specifications required preferably)
Design support for
minor modifications
Turnkey Manufacturing
Sample/Prototypes on
request
Small and Medium level
volumes also acceptable
Materials
Management:
They can work with
LIPI on either a parts consignment basis or a complete turnkey parts sourcing
arrangement or a mix of both.
Customers and
Industries:
LIPI is the name
trusted by the customers. Customers have audited and approved LIPI as their
outsourced manufacturing partner for Electronics manufacturing. Flexibility and
Quality is what it takes to satisfy our broad set of customers from different
fields.
PRINTER SUPPLIES
Lipi Data Systems Limited an ISO 9001 Company. Established in the year 1986 is renowned for its range of high speed heavy duty Line Printers, Dot Printers, Fan Fold Laser Printers and Consumables. In fact, it is the only company to manufacture Line printers in India. International tie-ups with world leaders TallyGenicom - USA & Germany. PSI-Germany & Data Products Hitachi Koki-Japan have ensured Indian Customer the benefit of advanced printing technology. Lipi's forte has been in adapting the best of international technology to suit Indian conditions.
In Keeping with same objective the Company has introduced high quality printer
ribbons & Compatible Inkjet Cartridges for complete range of Dot-matrix
& Inkjet Printer.
They at Lipi, with a vast experience of 15 years in printers and print
technology, from the days of old hand printers to present dot matrix/line
matrix and future of Inkjet/Laser understand the pulse of the printers.
They ensure that their customers get high quality ribbons & Inkjet
Cartridges at reasonable prices for efficient healthy functioning of printer
for years together.
HP COMPATIBLE INKJET CARTRIDGES
EPSON COMPATIBILITY INKJET CARTRIDGES
Compatible
Inkjet Cartridges
Use of Compatible Cartridge is a global trend, accounting for 50% of the international market. Lipi Inkjet Cartridges are compatible with HP, Canon, Epson & Lexmark inkjet printers, ensuring your Lipi quality on your choice of printer.
Product
Highlights Longest Printer Life
Laboratory tests have proved that Lipi Printer Ribbons/Refills have a longer print life as compared to most
of the other Ribbons Refills.
High
Quality Ink
Extensive research and stringent quality ensures that the performance of Lipi Cartridges is at par with the best of OEM cartridges.
Superior
Print Quality
Due to minimal variation in print density of the Lipi Ribbons / Refills it gives consistently superior print quality throughout the life.
Extra
Ink for Extra Yield (Model Specific)
Their Cartridges have more ink than any other brands available and thus delivers higher number of prints per cartridge.
Strongest
Ribbon weld
Special welding technique ensures strongest weld and minimum charter loss at point of weld.
Customer
Audit Simulation Test (CAST)
Before each batch is packed, it goes through "Cast" in a printer with a set of different test patterns to confirm the effective and efficient functioning of its various parts. Only those that pass these stringent tests are released in the market.
Ink
Quality
Lipi Ribbons/Refills have a special corrosion free ink that does not corrode the metallic parts nor does it deform the rubber rollers of the printer, thus saving on costly replacements. Also Lipi Ribbons/Refills are Oil based which enables self Lubrication of the print head & moving parts in the Ribbon path.
Clear
Image
Unmatched clarity in images printed using Lipi cartridges is the result of complete lack of smudging and ink patches.
Winding
Torque
Precise winding torque ensures smooth Ribbon movement and prevents motor overloading.
Long
& Lasting Colours
Lipi cartridges produce enhanced colours, thereby enabling photo quality, real images.
Specially
Woven Nylon
Lipi Ribbon/Refills use imported, specially woven Nylon having high ink holding capacity for longer print life. The fabric is of optimum thickness and prevents the piercing of pins thus safe guarding the print head.
Long
trouble free operations :
100% guaranteed to offer uninterrupted operation and ensures peace of mind.
Proactive
services :
In adherence to the Company's policy, each dealer offers prompt and effective service support. Backed by Lipi Direct support thought its network of over 50 branches.
Exports
After its inception as a small scale unit, Lipi is engaged in manufacture of line printers and sub-assemblies.
The unit entered the export market in the year 1994-95 by exporting goods worth USD 2 million. In the year 1995-96 the figure rose to USD 7.5 million. Commendable feature is its success in exporting Hi-tech items to industrially and technologically advanced European countries.
The unit has been awarded for excellence in export for computer hardware by ESC ( The Electronics and Computer Software Export Promotion Council). The Government of Rajasthan State has honored Lipi by offering Award for the Export Excellence in the year 1995-96.
The unit has been credited with ISO-9000 series certification for designing, manufacturing and trading of printers and related products.
Recently Lipi has achieved significant progress in export of Compatible Toner Cartridges.
Alliances
To achieve its mission of being the top printing solutions company, Lipi has always sought for international tie-ups with world class technology providers. First it was Dataproducts in Ireland and USA /Hitachi Koki and later TallyGenicom in Germany and USA, PSI in Germany and PBTI in UK.
Lipi 's forte lies in adapting the best of technology to suit Indian
conditions. The alliances have helped Lipi deliver the most advanced,
technologically superior products to its discerning buyers.
The collaboration with TallyGenicom brings line printers, dot matrix printers
and laser printers. Lipi also manufactures and exports compatible printer
/copier cartridges in collaboration with PBT International Limited
Awards
Lipi's unending quest
for excellence has been appreciated and honored by the customers, industry and
government. Its outstanding performance has seen Lipi printers finding their
way to advanced countries like US, Europe, Australia ands Asia-Pacific regions.
To its credit, Lipi has won a string of much-coveted awards such as...
"Excellence in Exports of Hardware (SSI) for 1995-96" by Electronics
& Computer Software Promotion Council, Ministry of Commerce, Govt. Of
India.
"Highest Export" award in Computer Hardware amongst SSI category in
1996-97.
"Excellence in Export of Engineering & Electronics for 1995-96"
by Govt. Of Rajasthan.
"Top Reseller Award for 1996, 1997 & 1998 for Highest Professional
Standards and Customer Support " by their collaborators Tally, UK.
"Outstanding
contribution in IT Hardware Exports" awarded by Manufacturers Association
for Information Technology for 1996-97.
"Best Sellers in printers" by IS Computer World (ISCW) Premier 200
Techies '97.
"Best Exhibitor" for computer exhibition 1997 organized by Computer
Society of India, Vadodara Chapter.
"One of the Best Service Providers" during CSI'97 at Ahmedabad.
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.44.84 |
|
UK
Pound |
1 |
Rs.85.55 |
|
Euro |
1 |
Rs.57.28 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
TOTAL |
|
54 |
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 |
|
NR |
In view of the lack of information, we have
no basis upon which to recommend credit dealings |
No Rating |
|