MIRA
INFORM REPORT
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Report Date : |
17.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
OTIS ELEVATOR COMPANY INDIA LIMITED |
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Registered Office : |
9th Floor, Magnus Towers, Mindspace, Link Road, Malad (West), Mumbai – 400 064, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.10.1953 |
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Com. Reg. No.: |
9158 |
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CIN No.: [Company
Identification No.] |
U29150MH1953PLC009158 |
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Legal Form : |
Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of Lifting & Handling Equipment |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 20000000 |
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Status : |
Excellent |
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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. Available information indicates high financial responsibility of the company. Directors are reported as experienced, respectable and having satisfactory means of their own. Their 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 dealing
at usual trade terms and conditions. |
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LOCATIONS
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Registered Office / Head Office / Marketing Office: : |
9th Floor, Magnus Towers, Mindspace, Link Road, Malad (West), Mumbai – 400 064. |
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Tel. No.: |
91-22-56795151/28805060 |
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Fax No.: |
91-22-28441471/1279 |
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Email Id: |
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Websites: |
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Factory 1 : |
Manufacturing Facility, 92, KIADB Industrial Estate Phase 11, Jigani Industrial Area, Anekal Taluk, Bangalore – 562 106, Karnataka, India |
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Tel. No.: |
91-80-27825401 /02 |
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Fax No.: |
91-80-27825404 |
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Factory 2: |
Akurli Road, Kandivli (East), Mumbai – 400 101, Maharashtra, India |
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Tel. No.: |
91-22-28873346 |
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Fax No.: |
91-22-28878767 |
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Factory 3: |
Mumbai – Ahmedabad Road, Taluka, Vasai District Thane – 401 202, Satualli Village, Maharashtra, |
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Logistics Centre: |
Otis Consolidation, Otis Elevator Company (India) Limited, Sativali Village, Mumbai Ahmedabad Road, Taluka Vasai (East), Thane – 401 202 |
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Service Centre: |
National Service Centre, ‘E’ Wing, Bonanza Industrial Estate Private Limited, Ashhok Chakravarty Road, Kandivli (East), Mumbai – 400 101 |
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Regional Offices : |
· 9th Floor, Magnus Towers, Mindspace, Link Road, Malad (West), Mumbai – 400 064. |
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· Jeevan Deep 1, Middleton Street, Kolkata – 700 071, West Bengal, India Tel No: 91-33-22470220 / 9724 Fax No: 91-33-22471041 |
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· 11th Floor, Himalaya House, 23, Kasturba Gandhi Marg, New Delhi – 110 001 Tel No: 91-11-23312686/92 /51606847 Fax No: 91-11-23310677 |
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· 272 Anna Saiai, Teynampet, Chennai – 600 018, Tamil Nadu, India Tel No: 91-44-24320849/24340280 Fax No: 91-44-24347995 |
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· 504-505, 5th Floor, Rectangle One, D -4, Saket Place, Saket, New Delhi – 110 017, India |
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· Otis House, The Phoenix 2-A, Hayes Cross Road, Hayes Road, Bangalore – 560 025 |
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· Bhupati Chambers, 2nd Floor, 13, Mathew Road, Mumbai – 400 001, Maharashtra, India Tel No: 91-22-23631690 Fax No: 91-22-23634693 |
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Service Centres : |
Agra, Ahmedabad, Allahabad, Anand, Ankleshwar, Aurangabad, Bangalore, Baroda, Bhopal, Bhubaneshwar, Bokaro, Bhavnagar, Calicut, Chandigarh, Chennai, Coimbatore, Cuttack, Damanjodi, Dehradun, Delhi, Dhanbad, Durgapur, Ernakulam, Gandhinagar, Guwahati, Gaziabad, Goa, Gurgaon, Hardwar, Hyderabad, Indore, Jaipur, Jammu, Jamshedpur, Kalyan, Kanpur, Kolhapur, Kolkata. Kottayam, Kota, Lucknow, Madurai, Mangalore, Mira Road, Mumbai, Mysore, Nashik, Navi Mumbai, Noida, Ootacamund, Patna, Pondicherry, Pune, Raipur, Rajkot, Ramagundam, Ranchi, Rourkela, Salem, Shaktinagar, Siliguri, Shimla, Srinagar, Surat, Tirunelveli, Thiruvananthapuram, Thane, Trichur, Trichy, Udaipur, Varanasi, Vijaywada, Valsad, Visakhapatnam, Nepal, And Bangladesh |
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Sales Representatives : |
Chandigarh,
Haryana,Himachal Pradesh, Jammu & Kashmir,Madhya Pradesh, Punjab,
Rajasthan,Uttar Pradesh, Nepal And Bangladesh |
DIRECTORS
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Name : |
Mr. Ashok I. Malhotra |
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Designation : |
Managing Director |
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Date of Birth/Age : |
59 Years |
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Qualification : |
B. E. (Mech), MMS |
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Experience : |
34 Years |
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Date of Appointment : |
14.05.1973 |
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Name : |
Dr. Ram S. Tarneja |
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Designation : |
Director |
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Name : |
Mr. P. S. Dasgupta |
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Designation : |
Director |
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Name : |
Mr. R. Wijeyakumar |
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Designation : |
Director |
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Name : |
Mr. Mark George |
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Designation : |
Director |
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Name : |
Mr. Sundar Parthasarathy |
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Designation : |
Managing Director |
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Date of Appointment : |
16.05.2007 |
KEY EXECUTIVES
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Name : |
Mr. Pierre Dejoux |
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Designation : |
Chairman |
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Date of Appointment : |
28.06.2007 |
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Name : |
Mr. Atul Juvle |
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Designation : |
Company Secretary |
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Name : |
Mr. Randal Wilcox |
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Designation : |
Chairman |
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Date of Ceasing: |
28.06.2007 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Lifting & Handling Equipment |
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Products : |
· Elevators and Escalators |
PRODUCTION STATUS
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Lifts |
Nos. |
2000 |
2949 |
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Previous lifts |
Nos. |
2000 |
3352 |
GENERAL
INFORMATION
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Suppliers : |
Ø Ace Electronics Ø Bibhuti Engineering Works Ø Cimotech Hydro Machines Ø Deepak Automotive Industries Ø Essen Aluminium Ø S. R. Engineering Works Ø Vashi Electrical Private Limited Ø Fon-Ess India Private Limited Ø Kansa Enterprises Private Limited Ø Mallik Engineering Ø Premier Sealing Products Ø Unique Panch Systems Private Limited Ø Welflex Polymer Private Limited |
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No. of Employees : |
2632 ( 258 Engineers, 115 Manager, others 2259) |
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Bankers : |
· Citi Bank N. A., 293, Dr. D. N. Road, Mumbai – 400 001 · Standard Chartered Grindlays Bank, 90, Mahatma Gandhi Road, Mumbai – 400 001 · Canara Bank, B.S. Marg, Mumbai – 400 001 · HDFC Bank Limited, Tulsiani Chambers, Nariman Point, Mumbai – 400 021 |
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Banking Relations
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Satisfactory |
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Auditors : |
Price Waterhouse Chartered Accountant |
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Address : |
1102, Raheja Chambers, Nariman Point, Mumbai – 400 021 |
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252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400 028, Maharashtra, India |
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Collaborators : |
Otis Elevator Company |
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Holding Company: |
United Technologies Corporation Incorporation |
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Associates/Subsidiaries : |
· Otis Elevator Company Pty Limited · Otis Elevator Company (Thailand) Limited · Otis Elevator Company (HK) Limited, Hongkong · Pernas Otis Elevator Company Limited Sdn Bhd – Pernas Malaysia · Otis Elevator Company Limited , South Africa · Otis , France · Otis Elevator Company, Kuwait · Otis Limited, UK · Otis SPA, Italy · Zardoya Otis SA, Spain · Otis Elevator Company, Philippines, Inc, Philippines · China Tianjin Otis Elevator Company, China · Hang Chau Xizi Otis Elevator Company, China · Otis Elevator Company , Farmington · Otis Elevator Company, Bloomington · Otis Elevator Company, Bloomfield · Otis GMBH And Company OHG, Germany · Nippon Otis Elevator Company, Japan · Guangzhou Otis Elevator Company Limited, China · Otis Elevator Company, Tucson · PT Citas Otis Elevator, Indonesia · LG Otis Elevator Company Limited, Korea · Pratt And Whitney , USA · Otis Lilama Elevator Company Limited, Vietnam · Tatung Otis Elevator Company, Taiwan · Sigma Elevator (M) Sdn. Bhd. , Malaysia · Shanghai Otis Elevator Company Limited, China · Otis LLC, UAE · Carrier Aircon Limited · Carrier Refrigeration Private Limited · Otis Escalators Sro, Czech Republic. · Otis Elevator Company, New Jersey · Otis Elevator Company (S) Pte, Limited, Singapore · Otis Mauritius Limited · Trio Elevators Company (India) Limited · Information Systems Resource Centre Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000000 |
Equity shares |
Rs. 10/- each |
Rs.150.000 millions |
Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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12542088 |
Equity shares |
Rs. 10/- each |
Rs.125.420 millions |
Notes:
(1) Of the above,
10586044 Equity Shares of Rs. 10 each (Previous Year - 10586044 Equity Shares
of Rs. 10 each) are allotted as fully paid-up Bonus Shares by way of Capitalisation
of General Reserve and Share Premium Account.
(2) Of the above,
5644800 (Previous Year - 5644800) Equity Shares, 2995810 (Previous Year -
2995810) Equity Shares and 3634361 (Previous Year - 3571010) Equity Shares are
held by Otis Elevator Company, New Jersey, U.S.A. Otis Elevator Company (S)
Pte. Limited, Singapore and Otis Mauritius Limited, Mauritius respectively.
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
125.420 |
125.420 |
125.420 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2606.834 |
1891.488 |
1376.337 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2732.254 |
2016.908 |
1501.757 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2732.254 |
2016.908 |
1501.757 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
308.671 |
264.124 |
300.654 |
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Capital work-in-progress |
7.899 |
1.297 |
0.000 |
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INVESTMENT |
60.400 |
14.000 |
14.000 |
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DEFERREX TAX ASSETS |
9.936 |
7.488 |
9.778 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
386.555
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289.168
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324.509
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Sundry Debtors |
1519.597
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1225.330
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1241.271
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Cash & Bank Balances |
3899.255
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2450.974
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1174.996
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Other Current Assets |
30.311
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23.923
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0.000
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Loans & Advances |
398.034
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268.134 |
576.274
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Total
Current Assets |
6233.752
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4257.529 |
3317.050 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3691.273
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2562.061 |
2221.181
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Provisions |
320.204
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128.471 |
112.153
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Total
Current Liabilities |
4011.477
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2690.532 |
2333.334 |
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Net Current Assets |
2222.275
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1566.997 |
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MISCELLANEOUS EXPENSES |
123.073 |
163.002 |
193.609 |
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TOTAL |
2732.254 |
2016.908 |
1501.757 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
6124.835 |
5306.234 |
4870.689 |
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Other Income |
273.320 |
153.455 |
0.000 |
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Increase in work in progress at sites |
7.068 |
5.262 |
0.000 |
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Total Income |
6405.223 |
5464.951 |
4870.689 |
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Profit/(Loss) Before Tax |
1215.097 |
905.642 |
725.293 |
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Provision for Taxation |
499.752 |
390.491 |
252.795 |
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Profit/(Loss) After Tax |
715.345 |
515.151 |
472.498 |
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Export Value
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29.795 |
38.239 |
24.495 |
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Import Value
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435.998 |
341.681 |
341.436 |
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Expenditures : |
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Material Consumed |
2575.653 |
2400.122 |
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Operating and other Expenses |
1661.364 |
1307.335 |
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Payments to and Provision for Employees |
834.155 |
733.284 |
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Depreciation |
46.762 |
40.638 |
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Total Expenditure |
5117.934 |
4481.379 |
4072.538 |
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KEY RATIOS
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Year |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt-Equity Ratio |
0.00 |
0.00 |
0.00 |
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Long Term Debt-Equity Ratio |
0.00 |
0.00 |
0.00 |
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Current Ratio |
1.56 |
1.50 |
1.31 |
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TURNOVER RATIOS |
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Fixed Assets |
8.91 |
7.71 |
6.59 |
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Inventory |
18.13 |
17.29 |
16.94 |
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Debtors |
4.46 |
4.30 |
4.10 |
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Interest Cover Ratio |
312.54 |
211.63 |
182.33 |
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Operating Profit Margin(%) |
20.67 |
17.91 |
16.60 |
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Profit Before Interest And Tax Margin(%) |
19.90 |
17.15 |
15.65 |
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Cash Profit Margin(%) |
12.44 |
10.47 |
11.09 |
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Adjusted Net Profit Margin(%) |
11.68 |
9.71 |
10.14 |
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Return On Capital Employed(%) |
54.62 |
57.56 |
67.54 |
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Return On Net Worth(%) |
30.12 |
29.28 |
37.33 |
LOCAL AGENCY
FURTHER INFORMATION
OPERATIONS:
FINANCIALS:
During
the year under review the world economy continued to be buoyant and Asia continued
to be prime mover of growth, with China's growth once again dominating the
world Economy. India was not far behind with their Economy growing over 9% in
the year under review. This growth environment also helped the Company to
achieve further growth in its business results.
During the year ended March 31, 2007, the company has registered a Sales
Turnover of Rs. 6124.83 million as compared to Rs.5306.23 million, recorded
last year i.e. a growth of 15.4% over the previous year. The profit before tax
was Rs. 1287.28 million against Rs. 983.57 millions, recorded last year,
reflecting an increase of 30.8% on annual basis.
Besides the growth in the Indian realty industry the other key drivers to these
results have been the relentless cost reduction efforts and operational process
improvements by employees across the company.
BUSINESS:
In the current economic scenario, they have witnessed good activity in the
construction industry in a large number of non-metro cities besides the metros
themselves. The company has experienced strong growth in revenues and profit in
the year under review, from the three major business segments - New Equipment
Sales, Service and Modernisation.
NEW EQUIPMENT
SALES:
Overall, there was a high level of activity in the realty industry
during the year under review. This helped the Company surpass earlier in terms
of turnover and profits. The continuing growth in IT/ITES and the shopping mall
segments has led the boom in high rise buildings and superior residential complexes
with all modern facilities. This in turn has led to an increase in demand for
escalators and auto door elevators which indeed are the focus area of their
operations. This helped improve the product mix and booking values. Going
forward, they expect this would help drive future growth.
SERVICE:
the Company today has the largest network of 83 service centres spread
across India serving more than 280 towns. The infrastructure support resulting
in speedy and efficient response to the customers have helped Company to
increase its existing service base by over 7.4% during the year under review
and is continuing its march in the area of 'Service Excellence'.
MODERNISATION:
During the year under review the company was able to reflect a growth of
53% in the Modernisation segment. The Company continues its focus on
modernisation of its old base and upgrading them with the latest
technology.
CURRENT OUTLOOK:
With the rapid investment in certain infrastructure projects over the
last six years, it is expected that the growth in the realty industry would
continue. Globalisation and growth in the economy has fuelled a boom in the
real estate which has attracted most of the overseas manufacturers to introduce
their products in India. This growth in demand and increased level of
competition have increased the challenge in not only attracting and retaining
talent, but also in getting required number of skilled people for timely
completion of elevator installations. However, the Company has maintained its
leadership position with quality products and excellence in service.
SAFETY:
The
Company has known no boundaries in providing safety. The Company constantly
strives to ensure that its products and services are safe, its work place is
safe from hazards and it is committed in protecting the natural environment.
During the year under review the company continued to maintain SAFETY at the
highest standards. Safety is always 24 X 7 without any shortcuts or
exception.
INFORMATION TECHNOLOGY:
During the year under review an enterprise integrated system covering
all Financial, Sales and Distribution Modules was implemented.
JOINT VENTURE IN GUJARAT:
On the 31st July 2006, the company signed a Joint Venture Agreement with
Trio Elevator Company (I) Limited, (now known as ALPS Technologies Private
Limited) for forming a Joint Venture for supply, installation and servicing of
elevators in Gujarat. The initial investment in the equity will be Rs. 72.5
millions to be contributed by both the partners. The Joint Venture Company
commenced its operations on 7th September 2006. The first year of Joint Venture
Company scheduled to end on 30th September 2007. Hence, the accounts are not
attached to the Annual Report. As per section 212 of the Companies Act, 1956
they confirm that, there is no change in the holding company's interest in the
subsidiary company and from the date of investment till 31st March 2007 there
is no material change in the subsidiary company's networth. The details of
investment are shown in the Note 4(ii) of Schedule 19 to the Profit and Loss
account for the year ended 31st March 2007.
FIXED ASSETS:
·
Leasehold Land
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Leasehold Improvements
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Buildings
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Plant And Machinery
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Electrical Installation
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Furniture And Fixtures
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Office Equipments
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Vehicles.
WEBSITE DETAILS:
Subject is the world’s largest manufacturer
of elevators, escalators and moving walkways. For architects and contractors,
developers and homeowners, subject is the world’s leading people mover.
While they manufacture, install, modernize and maintain elevators,
escalators, moving walks and shuttles, the heart of their business is problem
solving. Whether a customer needs a sophisticated elevator system for the
tallest building in the world or a simple lift for a two-story home, they are
dedicated to providing the safest, most reliable solutions possible.
Changing the shape of the world
In 1853, Elisha Graves subject introduced the
world’s first safety elevator in Yonkers, New York — changing the shape of the modern
world. From that point forward, buildings could rise beyond the limitations of
stairs. Cities would have skylines. Today, their pioneering spirit is as strong
as it was when they began. With every new product and service, subject is
moving their industry, their company and their customers forward.
Sharing strengths
Subject is part of United Technologies Corporation, a Fortune 500 company and world leader in the building systems and aerospace industries. Sharing strengths with UTC allows subject to draw on remarkable resources in engineering, product testing, purchasing, marketing and information systems. Subject brings all these strengths to bear in creating better solutions for their customers.
PRESS RELEASE:
Otis wins record
order for its ‘green’ technology elevator system
Dec.
04, 2007
FARMINGTON,
Connecticut (Dec. 4, 2007) – Otis Elevator Company, a unit of United
Technologies Corp. (NYSE:UTX), will supply and install 580 of its
environmentally friendly, energy-efficient and space-optimizing Gen2® Comfort
elevator systems at Tres Molinos, a luxury resort in the Murcia region of
southeast Spain.
This win marks the largest single Gen2 elevator order in Otis history.
“This award-winning system is Otis’ fastest-selling product,” said Otis
President Ari Bousbib. “It will allow the developers and owners of Tres Molinos
to lower building costs and increase rentable space.”
The Gen 2 machine-roomless system, with its gearless permanent magnet
motor, reduces energy usage by up to 50 percent when compared to conventional
systems. The system is also cleaner for the environment as its flat,
polyurethane-coated steel belts and permanent magnet gearless machine do not
require additional lubrication.
With sales of more than 100,000 units since its release in 2000, the Gen2
elevator system has received acclaim throughout the world for its environmental
benefits. In November, Fast Company magazine featured the Gen2 system as one of
the top 50 ways companies are “greening” their businesses. In 2006, the Gen2
system was named one of Spain’s “100 best ideas” by the country’s leading
business magazine, Actualidad Económica, and was also recognized by the Chinese
government as one of China’s “Top 10 Architectural Science and Technology
Achievements.” In 2005, Otis became the first elevator company to receive the
“Green Product Award” from the China Environmental Protection Foundation for
the Gen2 system.
In addition to its environmental benefits, the Gen2 system offers flexibility
in building design, superior ride quality, increased durability, and smooth,
quiet operation with outstanding leveling accuracy.
To be built in three phases, the Tres Molinos resort is aimed at attracting
foreign tourists and will offer 10,800 residences and three golf courses.
Otis Elevator Company is the world's largest manufacturer and maintainer of
people-moving products including elevators, escalators and moving walkways.
With headquarters in Farmington, Connecticut, Otis employs 62,000 people,
offers products and services in more than 200 countries and territories and
maintains 1.6 million elevators and escalators worldwide. United Technologies
Corp., based in Hartford, Connecticut, is a diversified company providing high
technology products and services to the building and aerospace industries.
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.39.37 |
|
UK Pound |
1 |
Rs.79.47 |
|
Euro |
1 |
Rs.56.83 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
80 |
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 |
|