MIRA
INFORM REPORT
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Report Date : |
19.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
KLR INDUSTRIES LIMITED |
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Registered Office : |
Survey No. 222/1, Near Nagarjuna Nagar Colony, Cherlapally Road, ECIL (PO), Hyderabad – 560 062, Andhra Pradesh |
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Country: |
India |
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Financials as on: |
31.03.2006 |
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Date of Incorporation : |
29.01.2002 |
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Com. Reg. No.: |
01-38416 |
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CIN No.: |
U28939AP2002PLC038416 |
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IEC No.: |
0991009312 |
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TAN No.: |
HYDK02977C |
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PAN No.: |
AABCK7920K |
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Legal Form : |
A Closely held Public limited liability company. |
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Line of Business : |
Manufacturers of Waterwell Drilling Rigs, Minning and Construction Equipments and its tools & accessories under the brand name KLR |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 296000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company with a strong capital base. Directors are reported as experienced, respectable and having satisfactory means of their own. 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 with slight caution. |
LOCATIONS
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Registered Office/Factory : |
Survey No. 222/1, Near Nagarjuna Nagar Colony, Cherlapally Road, ECIL (PO), Hyderabad – 560 062, Andhra Pradesh, India |
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Tel. No.: |
91-40-27121828/ 27127068 |
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Fax No.: |
91-40-27120558 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
222/1, Kapra Village, Keesara, Hyderabad – 500062, Andhra Pradesh, India |
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DIRECTORS
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Name : |
Mr. K. Laxma Reddy |
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Designation : |
Chairman cum Managing Director |
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Address: |
Plot No.22, Kimtee Enclave, Tarnaka, Hyderabad, Andhra Pradesh |
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Age/Date of Birth: |
23.04.1956 |
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Qualification: |
M.Sc. |
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Experience: |
18 Years |
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Date of Appointment : |
29.01.2002 |
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Name : |
Mrs. K. Vijayalaxmi Reddy |
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Designation : |
Director |
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Address: |
Plot No.22, Kimtee Enclave, Tarnaka, Hyderabad, Andhra Pradesh |
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Age/Date of Birth: |
11.10.1960 |
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Qualification: |
B. A. |
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Experience: |
10 years |
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Date of Appointment : |
29.01.2002 |
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Name : |
Mr. K. Venkateshwar Reddy |
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Designation : |
Director |
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Address: |
Plot No.22, Kimtee Enclave, Tarnaka, Hyderabad, Andhra Pradesh |
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Age/Date of Birth: |
02.08.1964 |
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Qualification: |
B.E. (Mech) |
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Experience: |
9 years |
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Date of Appointment : |
29.01.2002 |
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Name : |
Mr. Raja Gopal Reddy Kalva |
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Designation : |
Director |
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Address: |
2-3-8/30/1/A Tulasi Nagar, Golnaka, Hyderabad, Andhra Pradesh |
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Age/Date of Birth: |
24.08.1961 |
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Date of Appointment : |
01.06.2005 |
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Name : |
Mr. Upal N Thatikonda |
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Designation : |
Technical Director |
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Address: |
H. No.8-3-168/M/26, Serval Cooperative Housing Society, Usafguda, Hyderabad-45 |
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Age/Date of Birth: |
15.06.1957 |
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Date of Appointment : |
27.10.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. K. Laxma Reddy |
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1000000 |
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Mr. K. Vijayalaxmi Reddy |
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1000000 |
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Mr. K. Venkateswar Reddy |
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100000 |
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Mr. K. Rajgopal Reddy |
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100000 |
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Mr. K. Pratap Reddy |
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100000 |
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Mr. K. Konda Reddy |
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100000 |
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Mr. K. Lalitha Reddy |
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100000 |
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Total |
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2500000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Waterwell Drilling Rigs, Minning and Construction Equipments and its tools & accessories under the brand name KLR |
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Products : |
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Exports of |
AL-Faber Trading & Construction Company Limited and Khalid Electrical & Mechanical EST |
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Exports to : |
Dhoha & Qatar |
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Imports of: |
Zhu Zhou Cemented Carbridge works |
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Imports from: |
China |
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Terms : |
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Selling : |
L/C 90 days |
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Purchasing : |
L/C 90 days |
PRODUCTION STATUS
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Particulars |
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Installed Capacity |
Actual Production |
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Drilling Rigs |
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150 |
147 |
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Accessories / Tools (assorted) |
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NA |
13,702 |
GENERAL
INFORMATION
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No. of Employees : |
Office – 50, Factory – 200.Total – 250 |
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Bankers : |
State Bank of Hyderabad Hyderabad, Andhra Pradesh, India HDFC Bank Limited ICICI Bank |
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Facilities : |
Secured Loans (Rs.
In millions) : As on 31.03.2005
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Banking Relations
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Satisfactory |
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Auditors : |
C. V. Ramana Associates Chartered Accountants |
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Address: |
409, Metro Residency, Raj Bhavan Road, Somajyuda, Hyderabad-500082, Andhra Pradesh |
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Mobile No.: |
91-9849438998 |
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Associates : |
KLR Group of Companies |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,00,000 |
Equity Shares |
Rs.10/-
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Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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25,00,000 |
Equity Shares |
Rs.10/- |
Rs. 25.000 millions |
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Share Application
Money |
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Rs.27.835 millions |
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Total |
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Rs.52.835 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES
OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
66.935 |
25.000 |
25.000 |
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2] Share Application Money |
0.000 |
27.834 |
28.121 |
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3] Reserves & Surplus |
7.199 |
3.733 |
4.080 |
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NETWORTH
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74.134 |
56.567 |
57.201 |
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LOAN FUNDS |
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1] Secured Loans |
87.098 |
61.796 |
46.239 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING
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87.098 |
61.796 |
46.239 |
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TOTAL
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161.232 |
118.363 |
103.440 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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33.440 |
36.778 |
33.169 |
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Capital work-in-progress
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0.000 |
0.000 |
0.000 |
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INVESTMENT
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21.431 |
0.382 |
0.382 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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50.388
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85.234 |
97.208 |
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Sundry Debtors
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62.371
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15.483 |
12.328 |
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Cash & Bank Balances
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5.996
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4.493 |
4.345 |
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Loans & Advances
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24.180
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17.358 |
18.246 |
Total Current Assets
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142.935
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122.568 |
132.127 |
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Less :
CURRENT LIABILITIES & PROVISIONS
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43.846
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48.667 |
69.570 |
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Total Current Liabilities
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43.846
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48.667 |
69.570 |
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Net Current Assets
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99.089
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73.901 |
62.557 |
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MISCELLANEOUS EXPENSES
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7.272 |
7.302 |
7.332 |
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TOTAL
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161.232 |
118.363 |
103.440 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
253.392 |
175.109 |
458.099 |
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Other Income |
7.377 |
13.184 |
41.437 |
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Total Income |
260.769 |
188.293 |
499.536 |
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Profit/(Loss) Before Tax |
7.199 |
3.733 |
4.581 |
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Provision for Taxation |
0.000 |
0.000 |
0.352 |
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Profit/(Loss) After Tax |
7.199 |
3.733 |
4.229 |
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Total Earnings |
NA |
50.987 |
6.812 |
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Imports : |
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Raw Materials |
NA |
0.277 |
10.290 |
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Others |
NA |
0.402 |
-- |
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Total Imports |
NA |
0.679 |
10.290 |
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Expenditures : |
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Manufacturing Expenses |
NA |
NA |
70.386 |
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Administrative Expenses |
NA |
NA |
46.049 |
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Raw Material Consumed |
162.641 |
109.536 |
360.377 |
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Increase/(Decrease) in Finished Goods |
18.909 |
16.064 |
NA |
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Salaries, Wages, Bonus, etc. |
4.347 |
4.243 |
7.196 |
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Managerial Remuneration |
1.200 |
1.200 |
NA |
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Payment to Auditors |
0.027 |
0.027 |
NA |
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Interest |
12.531 |
7.113 |
NA |
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Insurance Expenses |
0.764 |
0.661 |
NA |
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Power & Fuel |
7.138 |
8.390 |
NA |
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Depreciation & Amortization |
5.675 |
5.638 |
5.883 |
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Other Expenditure |
40.338 |
31.687 |
5.064 |
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Total Expenditure |
253.570 |
184.559 |
494.955 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
2.76
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1.98 |
0.85 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.76
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1.98 |
0.92 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.08
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2.34 |
2.77 |
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Return on Investment (ROI) (PBT/Networth) |
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0.10
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0.06 |
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.77
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1.95 |
2.02 |
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Current Ratio (Current Asset/Current Liability) |
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3.26
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2.52 |
1.90 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Corporation identity number or foreign company registrations number of the company |
U28939AP2002PLC038416 |
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Name of the company |
KLR INDUSTRIES LIMITED |
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Address |
Survey No. 222/1, Near Nagarjuna Nagar Colony, Cherlapally Road, ECIL (PO), Hyderabad – 560 062, Andhra Pradesh |
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This Form is for |
Craeation of charge |
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Type of Charges |
Hupothecaion Equitable mortgage or mortgage of property by depositing the title deeds |
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Particular of the charge holder |
Andhra Pradesh State Financial Corporation 5-9-194, Chirag Ali Lane, Hyderabad-500001, Andhra Pradesh |
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Nature or description of the instrument creating charge |
Deed of hypothecation and memorandum of deposit of title deeds. |
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Date of the instrument creating charge |
17.03.2006 |
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Amount Secure by the charge |
Rs.24.000 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
Shall be repayable in 34 monthly installments (Rs.0.700 millions in 33 installments and Rs.0.900 millions as last installment). Interest @ 15% per annum. Collateral security to the extent of Rs.30.000 millions. Second charge ion the fixed assets. Personal Guarantees of Mr. K L Laxma Reddy and Mrs. K Vijaya Lakshmi Reddy. |
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Description of the property charge whether it is a charge on |
Immovable properties Plant and machinery Stock in trade Book debts |
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Particulars of the Property charged |
222/1, Cherlapally Road, ECIL Post, Hyderabad-62 Plant and machinery |
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Name of the company |
KLR INDUSTRIES LIMITED |
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Presented By |
K LAXMA REDDY, Managing Director |
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1) Date and description of instrument creating the change |
Hypothecation of goods and assets dated 24.12.2002. |
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2) Amount secured by the charge/amount owing on the securities of charge |
(Rs. In millions) CC : Rs.20.000 LC : Rs.5.000 BG : Rs.5.000 IIIrd : Rs.3.000 Total : Rs.33.000 |
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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 goods raw materials tocks in process, finished goods consumables, spares, book debts, receivables. Hypothecation of goods in particular bore well rigs drilling equipments bits, hammers etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
ROI 14.75% Margin 25% |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of Hyderabad SBI Cherapally Branch Cherapally, Hyderabad |
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6) Date and brief description of instrument modifying the charge |
Agreement of hypothecation of goods and assets dated 21.04.2004 |
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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. |
Enhancement of overall limits from Rs.39.100 millions to Rs.42.600 millions. (Rs. In millions) CC : Rs.20.000 SME Credit : Rs.2.500 Packing : Rs.3.500 LC : Rs.5.000 BG : Rs.5.000 IIIrd : Rs.3.600 DDP : Rs.3.600 Total : Rs.42.600 |
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Name of the company |
KLR INDUSTRIES LIMITED |
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Presented By |
K LAXMA REDDY, Managing Director |
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1) Date and description of instrument creating the change |
Agreement of Hypothecation of goods and assets dated 24.12.2002. |
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2) Amount secured by the charge/amount owing on the securities of charge |
(Rs. In millions) CC : Rs.20.000 LC : Rs.5.000 BG : Rs.5.000 IUBD : Rs.3.000 Total : Rs.33.000 |
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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 of goods raw materials tocks in process, finished goods consumables, spares, book debts, receivables. Hypothecation of goods in particular bore well rigs drilling equipments bits, hammers, spares etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest : 15.5% p.a. (as applicable to SBH) (SS) 4 CRA Penal interest : 1% Margin : 25% Usance Period FLC 90 days ILC – 30 days |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of Hyderabad SSI Branch Cherapally, Hyderabad-500051 |
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6) Date and brief description of instrument modifying the charge |
23.09.2004 Supplemental Agreement of hypothecation of goods and assets for increase in the overall limit. Letter regarding the grant of individual limits within the overall limit. |
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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 Facilities agreed to be granted/ continued by the Bank are increased form Rs.42.600 millions to Rs.43.100 millions pursuant to the increase in the cash credit hypothecation limit from Rs.26.000 millions to Rs.26.500 millions pursuant to the modification the limits stands in the manner below : (Rs. In millions) CC : Rs.26.500 LC : Rs.5.000 BG : Rs.5.000 IUBD: Rs.3.000 DDP : Rs.3.600 Prepaid instrument outside ABF Interest – 3.5% above PLR i.e.14.50% p.a. quarter
compound. |
Company’s fixed assets include Land, Buildings, Plant and Machinery, Electrical equipments, H T Furnaces, Office Equipments, Lab Equipments and Tools, Furniture and fixtures, Computers and Peripherals, Vehicles, Vehicle 2 wheelers, Civil Work in progress and Truck mounted rig.
Website Details :
Profile
They are manufacturer and supplier of Drilling equipment over two decides such as blast hole drills, drilling rigs.
KLR DTH / ROTARY DRILL RIG
Overwhelming support from well wishers have established their products as
leading Market Brands under "UNIVERSAL" / KLR" and they strive
hard to keep their support reputation intact till date with the following
standards products.
Hydraulically Operated Drilling Rig
Modules with cap abilities of 4" to 14"dia Bore to a Drill
Depth of 2000 ft.
For.
DTH applications.
DTH / ROTARY applications.
Core Drilling Equipment to a drill Depth of 100 mtrs.
Utility Series Drills (Tractor Mounted)
Core Drilling
Blast Hole Drills
Bore well / In well Drilling
Drilling Rigs
Blast Hole Drills : In Collaboration with Cubex Limited, Canada
DTH Hammers - 4" to 12" Valve & Valueless Models
DTH - T.C Button Bits - 4: to 24" Dia for all standard Hammers
Drill Roads / Tubes - Dia 3" to 5 ½ "
Tractor Mounted Hydraulic Drill Blast Hole Drilling Rigs
Since inception in 1984, the turnover and profitability graph of the company
has registered a steady upward rise. Guiding the Company's destiny, with the
utmost dedication to quality, they have maintained high standards of excellence
over the past 2 decades, keeping briskly abreast with the latest state-of-art
technology.
Today, KLR is a major manufacturer, exporting to tough international
markets, relying solely on the technological strengths and expertise of its
personnel. Setting the pace for growth in this industry in India, they are
optimistic of their export prospects, with new units going on stream, to
develop customer specific products in an ever expanding range.
The Company has pioneered appreciable, research work for ensuring higher
product performance, all along maintaining a growth strategy that concentrates
on core competence. Inevitably. commitment shows in their inherent strength
that KLR builds towards global growth.
U-Dex KL
Button
Bits & Hammers
They are proud to stand tall among 1500 plus units of heavy duty, Drilling Rigs Working throughout India in water as well as in construction & mining sectors. Diversification in construction & mining sector : After establishing the stability of Quality and Quantity KLR expended its actives in Mining and Construction application.
It’s products range include :-
- Truck Mounted Drilling Rigs
KLR 300 DTH
QKH 46
KLR DTH
KLR-CDR 400
KLR DR 100
KLR 400 Meters
- BackHoe Loaders
KLR-BL-400
KLR-Versatile-400
KLR-TC-400
U-Dex KL
Button Bits and Hammers
- Truck Mounted Drilling Rigs
KLR 300 DTH/Rotary Drill Rig
KLR DR 100 Rotary Drill Rig
KLR 400 Meters DTH/Rotary Drill Rig
KLR-CDR 400 Core Blast Hole Drill Rig
KLR DTH Drill Rigs
It exports to USA, Canada, Sweden, Ethiopia, Kenya, Uganda, Tanzania, Zambia, South Africa, Mauritius, Bangladesh, Sri Lanka, Qatar and Korea.
Subject is a major manufacturer, exporting to tough international markets, replying slowly on the technological strengths and expertise of its personnel.
The Company has pioneered appreciable, research work for ensuring higher product performance, all along maintaining a growth strategy that concentrates on core competence.
KLR INDUSTRIES -
MINING AND DRILLING EQUIPMENT, DRILLING RIGS AND DHT HAMMERS AND BITS
KLR Industries Limited was incorporated in 1984. KLR Industries manufactures a wide range of mining and drilling equipment, construction equipment, drilling rigs, waterwell drill rigs, direct rotary rigs, DHT hammer and bits.
KLR drilling equipment is designed using state-of-the-art technologies and is manufactured to suit international standards of quality and precision. The company has been accredited with ISO 9001:2000 certification.
TRUCK / SKID /
TROLLEY MOUNTED BOREWELL DRILL RIGS
KLR offers truck-mounted borewell drilling rigs capable of drilling through direct rotary or rotary / DTH modes. These drilling rigs have bores of diameter 16in, 12in, 8in or 6in and can drill up to 1,000m. KLR also provides a core-hole drilling feature with drill hole diameter of 115mm. The different drilling equipment models offered are:
KLR 300 DTH / rotary drill rig - it has a drill hole size of 10in and drills up to 984ft. The KLR 300 has a rotary head, which has a maximum speed of 0rpm-100rpm.
KLR DR 100 rotary drill rig - the KLR 100 has a drill hole size of 10in and can drill up to 330ft.
KLR 400 meters DTH / rotary drill rig - the KLR 400 has a drill hole size of 6.5in and drills up to 1,312ft.
KLR-CDR 400 core blast hole drill rig - the KLR CRD 400 drills up to a depth of 2,200ft.
QKH 46 blast hole drill rig - the QKH 46 blast hole drill rig has a drill hole size of 6in and drills up to 300ft.
KLR DTH drill rigs - the KLR DTH drill rigs have a drilling diameter of 6in-10in.
TRACTOR MOUNTED BLAST HOLE / BOREWELL / COREHOLE DRILLING MACHINES
KLR provides hydraulically operated tractor mounted rigs specially designed for fast and cost effective drilling by air, mud or foam drilling methods. The tractor mounted drilling rigs use hole hammers and bits, core barrel and tools, rotary tricone bits and other conventional tools. The drilling rigs have bores of diameter 4.5in, 6in and 6.5in and can drill up to 500ft.
CRAWLER MOUNTED BLAST
HOLE DRILLING RIGS
The crawler mounted blast hole drilling rigs are suitable for mines, quarries and construction sites. It is hydraulically operated and has a diesel engine on board. The crawler mounted blast hole has an air compressor and is used for 6in depths.
KLR industries also undertake custom built drilling equipment and machines. It designs, manufactures and supplies these custom built special machinery on the basis of modular, multipurpose design approach.
BACKHOE LOADERS
The two backhoe loader models offered by KLR are:
KLR-BL-400 - KLR-BL-400 has a backhoe loader bucket capacity of 1m³ and an excavator bucket capacity of 0.3m³. The transmission is of power-shuttle type with four forward and reverse speeds.
KLR-VERSATILE-400 - KLR-VERSATILE-400 is a hydrodynamic torque converter with a separate clutch plate drive for forward and reverse gears. It has a bucket capacity of 1m³.
BUTTON BITS AND HAMMERS
KLR button bits and hammers are manufactured from the best quality alloy steel. The button bits and hammers are heat-treated and are fully process controlled.
U-DEX KL DRILLING AND
CASING
The U-DEX KL drilling and casing is the most advanced and high-tech model available for high proficiency drilling operations. Its double-pinned pilot bit eliminates the risk of loosening bits down the hoe. It has a button angle and enhanced diameter for the reamer. This facility is available for uniform wear and load distribution over the buttons. Internal driver reamer is available for optimum reaming. The U-DEX KL system is available in 115mm / 152mm-165mm and 152mm-165mm / 215 mm configurations to suit all conventional hammers.
KLR CORE / ROTARY
DRILL RIG
KLR core rotary drill rigs have a drilling depth of 150m and a maximum drilling torque of 250kg/m. It has a drill engine with 149.6hp at 2,400rpm
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.41.64 |
|
UK Pound |
1 |
Rs.83.11 |
|
Euro |
1 |
Rs.56.46 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
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 |
|
TOTAL |
|
44 |
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 |
|