MIRA
INFORM REPORT
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Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
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Name : |
C P V ENGINEERS PRIVATE LIMITED |
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Registered Office : |
N – 27, Industrial Estate, 1st |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
31.03.2000 |
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Com. Reg. No.: |
026835 |
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CIN No.: [Company
Identification No.] |
U26835KA2000PTC026835 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRC05529G |
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PAN No.: [Permanent
Account No.] |
AABFC1164C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of high quality Chemical Process
Pumps and Industrial Valves |
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 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. 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 : |
N – 27, Industrial Estate, 1st |
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Tel. No.: |
91-836-2331039/2331038/3293934 |
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Mobile No.: |
91-9343105739 |
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Fax No.: |
91-836-2331038 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Ashokrao Pandharinath Belamkar |
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Designation : |
Chairman and Managing Director |
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Address : |
Plot No. 26, Bankers Colony, Laxmipur, Hubli, Dharwad – 580 024, |
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Date of Birth/Age : |
31.07.1955 |
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Date of Appointment : |
31.03.2000 |
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Name : |
Mr. Jaisingh Doulatram Singh |
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Designation : |
Managing Director |
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Address : |
Plot No. 14, Bankers Colony, Laxmipur, Hubli, Dharwad – 580 024, |
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Date of Birth/Age : |
03.01.1951 |
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Date of Appointment : |
31.03.2000 |
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Name : |
Mr. Ramakant Pandharinath Belamkar
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Designation : |
Whole Time Director |
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Address : |
Plot No. 24, Bankers Colony, Laxmipur, Hubli, Dharwad – 580 024, |
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Date of Birth/Age : |
25.5.1959 |
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Date of Appointment : |
02.03.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Ashokrao Pandharinath Belamkar |
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6500 |
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Mr. Jaisingh Doulatram Singh |
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6500 |
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Mr. Ramakant Pandharinath Belamkar
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6500 |
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Category |
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Percentage
of Holding |
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Directors or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of high quality Chemical Process
Pumps and Industrial Valves |
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Products : |
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Exports to: |
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PRODUCTION STATUS
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Products |
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Actual
Production |
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Chemical
Process Pumps and Industrial Valves |
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As per
Customer’s Requirement |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Facilities : |
- |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
D J Munnolli and Associates Chartered Accountants |
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Address : |
No. 15,16, Ankush Arcade, 1st Floor, B Block, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000 |
Equity Shares |
Rs. 100.00 each |
Rs. 0.200 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1950 |
Equity Shares |
Rs. 100.00 each |
Rs. 0.195 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.950 |
1.950 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.763 |
0.763 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.713 |
2.713 |
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LOAN FUNDS |
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1] Secured Loans |
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1.203 |
0.017 |
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2] Unsecured Loans |
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2.394 |
2.288 |
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TOTAL BORROWING |
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3.597 |
2.305 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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PROFIT AND LOSS ACCOUNT |
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1.027 |
0.406 |
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TOTAL |
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7.337 |
5.423 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.943 |
2.705 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.831 |
2.508 |
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Sundry Debtors |
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8.247 |
7.306 |
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Cash & Bank Balances |
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0.939 |
0.411 |
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Other Current Assets |
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1.960 |
2.003 |
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Loans & Advances |
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0.343 |
0.653 |
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Total
Current Assets |
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14.320 |
12.881 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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10.541 |
9.928 |
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Provisions |
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0.381 |
0.235 |
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Total
Current Liabilities |
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10.922 |
10.163 |
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Net Current Assets |
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3.393 |
2.719 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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7.337 |
5.423 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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50.000 |
NA |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.35 |
4.60 |
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Current Ratio (Current Asset/Current Liability) |
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1.31 |
1.27 |
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Incorporated in the year 1989, they are a pioneer amongst the manufacturers and exporters of high quality Chemical Process Pumps and Industrial Valves. They offer huge variety of valves and pumps covering Ball Valves, Butterfly Valves, Globe Valves/ Bellow Sealed, Non Return Valves/ Wafer Type, Swing Check Valves, Drain Valves, Pulp Valve, Globe Valves and Chemical Pumps. Their wide experience of more than two decades is the core reason of their success as the deep expertise and well-versed knowledge is the result of their hard and sincere effort.
They are known for international quality products giving
highly reliable and durable output. Today, they have earned a respectful place
in the industry and their wings are expanded from
Quality is their back bone and they confirm to all the relevant standards to maintain it. Their commitment to quality has motivated us to invest in upgrading their technology and infrastructure. They have installed all the latest and sophisticated machineries in their plant coupled with hi-tech communication channels. Their team of experts consists of highly educated staff and engineers maintain a strict vigil on the manufacturing process for ensuring flawless products and they are the key of their success. Not even a single product is released in the market without the approval of in-house quality check department.
Their products are preferred by many big national and international organizations due to their reliable quality, high performance and competitive rates. Understanding the needs and requirements of the esteemed clients, their chemical pumps and industrial valves meet their exact demand. They provide wide options to choose, from Ball Valves, Butterfly Valves, Globe Valves/ Bellow Sealed, Non Return Valves/ Wafer Type, Swing Check Valves, Drain Valves, Pulp Valve to Globe Valves and Chemical Pumps.
Their R&D department is engrossed in coming out with new product innovations to maximize their clients' satisfaction.
Primary Competitive Advantages
v
Good Quality At Competitive
Price
v Timely Delivery
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 41.01 |
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1 |
Rs. 81.39 |
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Euro |
1 |
Rs. 55.30 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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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. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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