MIRA
INFORM REPORT
|
Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
|
Correct Name : |
EBONY
RETAIL HOLDINGS LIMITED |
|
|
|
|
Registered Office : |
C-66,
NDSE – II, New Delhi – 110 049, India |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
01.06.1988 |
|
|
|
|
Com. Reg. No.: |
55-31907 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1988PLC031907 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELE02167E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACD0207B |
|
|
|
|
Legal Form : |
A
Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
To
carry on the business of marketing and selling as wholesaler, retailers,
indenting agents, advertisers, manufacturers representatives and sales
representatives either on profit, fee, commission, or on commission and
profit sharing basis, of all kinds of goods, materials and services whether
consumables or industrial and to provide all kinds of marketing services, do
market research, survey, advertising and publicity of all types of products,
commodities and materials manufactured or supplied by any company, firm,
association of persons, body, whether incorporated or not, individuals,
government, semi-government or local authority. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
2000000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established and reputed company having satisfactory track.
Directors are reported as experience and respectable businessmen. Trade
relations are 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
|
Registered Office : |
C-66,
NDSE – II, New Delhi – 110 049, India |
|
Tel. No.: |
91-11-26255835/
29552401 |
|
Fax No.: |
91-11-29552957 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head
Office : |
F 2/1, Khanpur
Extension, New Delhi – 110062, India |
|
Tel.
No.: |
91-11-29551296/
29552057 |
|
Fax
No.: |
91-11-29552957 |
DIRECTORS
|
Name : |
Mr.
Balbir Singh Narula |
|
Designation : |
Director
|
|
Address : |
No. 3,
Golf Links, New Delhi – 110 003, India |
|
Date of Appointment : |
01.06.1988 |
|
|
|
|
Name : |
Mr.
Virender Singh Narula |
|
Designation : |
Director
|
|
Address : |
No. 3,
Golf Links, New Delhi – 110 003, India |
|
Date of Appointment : |
04.12.1990 |
|
|
|
|
Name : |
Mr.
Narinder Singh Narula |
|
Designation : |
Director
|
|
Address : |
No. 3,
Golf Links, New Delhi – 110 003, India |
|
Date of Appointment : |
01.06.1988 |
|
|
|
|
Name : |
Mr.
Birinder Singh Narula |
|
Designation : |
Director
|
|
Address : |
No. 3,
Golf Links, New Delhi – 110 003, India |
|
Date of Appointment : |
01.06.1988 |
|
|
|
|
Name : |
Mr.
Harvinder Singh Kohli |
|
Designation : |
Director
|
|
Address : |
A-108,
Paryavaran Complex, Aaket, New Delhi, India |
|
Date of Appointment : |
24.09.2002 |
|
|
|
|
Name : |
Mr.
Lalit Kumar |
|
Designation : |
Director
|
|
Address : |
C-1
A/97B, Janak Puri, Delhi – 110 058, India |
|
Date of Birth/Age : |
01.08.1964 |
|
Date of Appointment : |
03.09.2005 |
KEY EXECUTIVES
|
Name
: |
Mr.
Ajay Kumar Mehta |
|
Designation
: |
Company
Secretary |
|
Address
: |
A-81,
Preet Vihar, Delhi – 110 092, India |
|
Date
of Birth/Age : |
18.09.1966 |
|
Date
of Appointment : |
15.02.2006 |
|
|
|
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. B
S Narula |
|
19600 |
|
Mr.
Narinder Singh Narula |
|
13000 |
|
Mr.
Virender Singh Narula |
|
13000 |
|
Mr.
Harpinder Singh Narula |
|
11347000 |
|
Mr.
Birinder Singh Narula |
|
801600 |
|
Mrs.
Satwinder Kaur Narula |
|
13000 |
|
Mrs.
Rajinder Kaur Narula |
|
11000 |
|
Mrs.
Davinder Kaur Narula |
|
11000 |
|
Ms.
Surina Narula |
|
4500 |
|
Mr. M
S Narula |
|
715000 |
|
Alphamatics
Investments Limited |
|
4401250 |
BUSINESS DETAILS
|
Line of Business : |
To
carry on the business of marketing and selling as wholesaler, retailers,
indenting agents, advertisers, manufacturers representatives and sales
representatives either on profit, fee, commission, or on commission and
profit sharing basis, of all kinds of goods, materials and services whether
consumables or industrial and to provide all kinds of marketing services, do
market research, survey, advertising and publicity of all types of products,
commodities and materials manufactured or supplied by any company, firm,
association of persons, body, whether incorporated or not, individuals,
government, semi-government or local authority. |
|
|
|
|
Products with ITC Code : |
|
|
|
|
GENERAL
INFORMATION
|
No. of Employees : |
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Bankers : |
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Facilities : |
Secured Loan (Rs. in millions)
Unsecured
Loan (Rs. in millions)
1.
Subject enjoys mortgage facility from HDFC Bank Limited dated 28.01.2006. |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Kanwal
Channa and Associates Chartered
Accountants |
|
Address : |
5,
Babar Road, New Delhi – 110 001, India |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18500000 |
Equity
Shares |
Rs. 10/- |
Rs. 185.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17349950 |
Equity
Shares |
Rs. 10/- |
Rs. 173.499 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
173.499 |
173.499 |
507.500 |
|
|
2] Share Application Money |
334.000 |
334.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.112 |
9.911 |
9.432 |
|
|
NETWORTH |
518.611 |
517.410 |
516.932 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
172.319 |
96.758 |
182.378 |
|
|
2] Unsecured Loans |
139.877 |
141.349 |
148.725 |
|
|
TOTAL BORROWING |
312.196 |
238.107 |
331.103 |
|
|
DEFERRED TAX LIABILITIES |
9.188 |
8.648 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
839.995 |
764.165 |
848.035 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
457.129 |
451.797 |
447.415 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.005 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
472.794
|
408.683 |
377.664 |
|
|
Sundry Debtors |
1.816
|
3.103 |
4.345 |
|
|
Cash & Bank Balances |
38.644
|
50.101 |
13.209 |
|
|
Loans & Advances |
123.802
|
83.918 |
221.939 |
|
Total Current Assets |
637.056
|
545.805 |
617.152 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
263.368
|
238.309 |
223.303 |
|
|
Provisions |
6.266
|
4.202 |
3.904 |
|
Total Current Liabilities |
269.634
|
242.511 |
227.207 |
|
|
Net Current Assets |
367.422
|
303.294 |
389.945 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
15.439 |
9.074 |
10.675 |
|
|
|
|
|
|
|
|
TOTAL |
839.995 |
764.165 |
848.035 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
830.251 |
856.312 |
825.144 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
2.909 |
1.851 |
1.266 |
|
Provision
for Taxation |
0.000 |
0.000 |
0.000 |
|
Profit/(Loss)
After Tax |
2.909 |
1.851 |
1.266 |
|
|
|
|
|
|
Total
Expenditure |
827.342 |
854.461 |
823.878 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
0.35
|
0.21 |
0.15 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
0.35
|
0.21 |
0.15 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
0.26
|
0.18 |
0.12 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.005
|
0.003 |
0.002 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
2.14
|
1.94 |
2.08 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
2.36
|
2.25 |
2.71 |
LOCAL AGENCY
FURTHER INFORMATION
Profile
When Ebony first opened its doors to the
discerning Indian consumer in 1994 at South Extension, New Delhi, it had little
idea of the retail revolution that was about to sweep the country. Leading the
revolution and with a core aim to bring a global shopping experience to India,
Ebony has, ever since, successfully opened seven stores across 7 Indian cities.
As a leader in the retail industry, Ebony Retail
Holdings Limited the company that owns and runs all seven Ebony outlets in
India, has pioneered several industry trends. Most notable among them are the
highly successful Ebony in-house brand ETC and a special books and music
venture called Wordsworth. With over 2 lac square feet of retail outlet space, Ebony is today among the largest retail
players in India.
Ebony is characterized by an
ambience that is comfortable, unobtrusive and spacious. The first
organized retail player to make its entry into Chandigarh and Noida(Uttar
Pradesh) with two large format stores each spread across 35,000 sq.ft, has one
store each in Ludhiana and Jalandhar in Punjab. The Amritsar store, which
opened in October 2002 and Faridabad in January 2003 is the most recent
addition to a venture that originated at South Extension in New Delhi.
Attracting
over 8000 people everyday, with the figure doubling over the weekends, the
Ebony stores cater to over 50% of a consumer's shopping basket. Ebony is known
for its innovative promotions that offer value-add benefits to shoppers across
all stores, right through the year. Besides cross promotions, regular impromptu
promotions keep excitement alive within the stores.
Partnerships with some of the best companies in
India today gives the Ebony loyalist a wide range of high quality products to
choose from among well-known apparel
brands, household items, cosmetics and personal care products, Jewellery,
fashion accessories, books and music, stationery, household items, furnishing,
crystal ware and even prams.
The home floor at each store is truly a
homemaker's delight, with products ranging from crockery and kitchen appliances
to the finest linen, bathroom accessories, furniture, carpets and even
gardening equipment. A number of these products are imported and exclusive to
Ebony. Sourced from across the world, these products are a reflection of
Ebony's endeavor to offer superior merchandising mix at the most affordable
prices.
Ebony Elite Club comprising of 55000
Ebony loyalists. The Ebony Elite club offers its members to accumulate
bonus points against shopping. These are redeemable at regular intervals
through special promotional schemes. Special customers, from among the Elite
club members are issued the Ebony Gold Card that offers them many additional
privileges and entitles them to avail of the discounts at the various food and
entertainment joints in the city in which Ebony is present.
The USD 1 Billion Conglomerate-
DS Group, the promoter
of Ebony Retail Holdings Ltd, is a multinational group founded
in the 1940s with business interests in infrastructure development, real
estate, IT, hotels & leisure management and retailing. In India, the
Group's thrust is retailing and infrastructure.
Product Range
Ebony, the word that is
synonymous with retail revolution in India, has been offering its valued
customers an array of the very best products and labels, all under one roof.
Ebony has acquired a distinct leadership position in the Indian retail
industry. Ebony is among the first to offer the Indian shoppers an
international shopping experience. Its stores are characterized by an ambience
that is comfortable, unobtrusive, spacious and backed by international service
standards.
Partnerships with some of
the best companies in India today gives the Ebony loyalist a wide range of high
quality products to choose from among well-known
apparel brands, household items, cosmetics and personal care products,
Jewellery, fashion accessories, books and music, stationery, household items,
furnishing, crystal ware and even prams.
The home floor at each store
is truly a homemaker's delight, with products ranging from crockery and kitchen
appliances to the finest linen, bathroom accessories, furniture, carpets and
even gardening equipment. A number of these products are imported and exclusive
to Ebony. Sourced from across the world, these products are a reflection of
Ebony's endeavor to offer superior merchandising mix at the most affordable
prices.
Press Releases
Complete range of Fashion Accessories to be
available under one roof for the first time in Ludhiana
LUDHIANA, December 2, 2005
As the
craze of the festive and wedding season mounts among the city youngsters,
Ebony, the leading fashion and lifestyle retailer today announced the launch of
“Envy range” of fashion accessories targeted at the style minded youngsters.
The fashion forward customers will now get to catch up on latest fashion trends
and try on an entire array of exciting accessories at Ebony.
Ebony
through the Envy range will be providing the customers of Ludhiana with the
entire spectrum of fashion accessories ranging from costume jewelry, hair
accessories, kids jewelry, fun cosmetics, fun watches, pedicure/ manicure set,
gift boxes and beautiful phone accessories.
Speaking
at the occasion, Mr. Lalit Kumar,
Chief Executive Officer and Director, Ebony Retail Holdings
Ltd. said, “Recent consumer surveys showed us a growing need for fashion
accessories to accompany the designer clothes being increasingly preferred by our
customers. We are delighted to launch the Envy range of accessories at our
store as with this we are bridging the gap that our customers felt”. “It has
been Ebony’s endeavor to provide a global shopping experience to its customers
and in this process it has introduced innovative concepts such as Studio Ivory
which was the first designer concept store in Ludhiana”, he added.
Expressing his happiness on the launch of
Envy, Mr. D.L. Narayanan, Chief
Operating Officer, Ebony Retail Holdings Ltd. said, “Today we
have a highly educated and sophisticated base of customers who want to try out
and own the best of designer clothes and fashionable accessories to go along
with them. Envy is a positive step in providing our customers with an
opportunity to pick up a complete fashion wardrobe for themselves”. He added.
Under Envy range, the customers can pick up an entire array of costume jewelry
such as Necklace and pendants, Earrings, Bracelets, Wrist bands/cuffs, Finger
rings, Anklets, Bangles/ Kadas and funky tattoos from Ebony.
To add
zing to their hair accessories rack there is a special collection of Hair
sticks, Hair pins, Hair clips / Butterfly clips, Ponytailers, Bandana, Curlers
and other hair products as per latest trends.
Also
latest styles will be available in Scarves, Bags, Belts, Wallets, Socks / Caps,
Gift boxes, Fun pouches and Phone Accessories for the people who believe in
setting trends by adopting the latest styles. On offer will also be new range
of pedicure and manicure sets.
In
addition to the above kids will also love to shop for the latest accessories at
the Ebony store for its special collection of kids jewelery and accessories
under the Envy brand. Also adding to fun will be a host of fun watches and fun
cosmetics.
Ebony is
also planning to have special display and promotional techniques for promoting
the Envy range in an innovative manner. A trend board will be placed inside the
store to capture the latest styles and display it for creating awareness and
interest among the customers regarding the latest fashion styles setting in.
Ebony
which has recently completed five years at Ludhiana was the first organized
retail player to enter into the Ludhiana market. Since its opening Ebony has
introduced some of the latest products and trends into Ludhiana, it has also
been coming out with innovative promotional offers such as ICICI – Ebony
co-branded credit cards.
About Ebony Retail
Holdings Limited
Ebony Retail Holdings Ltd. is the parent company of the stores under the brand
name Ebony. Ebony started its first store in Delhi (South Extension) in October
1994. Now with 8 Stores, Ebony is the largest retailer in North India. Their
total retail space now stands at about 150000 sq. ft. All Ebony stores offer
consumers a truly international shopping experience. The stores are known for
their innovative promotions that offer value added benefits to shoppers,
throughout the year and are characterized by an ambience that is comfortable,
unobtrusive and spacious.
Fixed Assets
- Plant and Machinery
- Motor Vehicle
- Fax Machine
- Furniture and Fixtures
- Office Equipment
- Land and Building
- Garment Finishing Machine
- Sewing Machine
- Popcon Machine
- Transformer
- Dumb Waiter
- Water Cooler
- Telephone Equipment
- Music Systems
- Scooter
- Air Conditioner
- Television Set
- Data Processing Machine
Bankers
Charges Report as per Registry
Name of the Company : Ebony Retail Holdings
Limited
Presented by : -- Director
|
1.
Date and description of the instrument creating or evidencing the charge
|
Letter
of Hypothecation and charge and hypothecation of Debts and Assets dated
25.02.2003, Regd. 31.03.2003 |
|
2.
Amount secured by the charge /amount
owing on security of the charge |
Rs.
50.000 millions |
|
3.
Short Particular of the property charged. If
the property acquired is subject to change date of acquisition of property should be
given
|
Hypothecation
of goods, described in general terms in the schedule hereto, particularly all
that goods, articles, items, durables etc, located / situated at various
showrooms that are opened / to be opened in various location in India of the
company and the goods which shall hereafter be stored in the said premises in
addition to the goods now stored or by way of substitutions for and in lieu
of any goods which may from time to time have been withdrawn. Hypothecation
of all the borrowers book debts, outstanding, money receivables, claims and
bills, which are now due and owing and which may at any time during the
continuance of this security become due and owing to the borrower in the
course of its business by any person, firm, company by way of first
charge. |
|
4.
Gist of the terms and conditions and extent and operation of the charge. |
Interest
: @ 12% Margin
: 25% on stocks, 50% on Book Debts Above
is to secure OCC Limit of Rs. 50.000 millions Other
term and conditions as per sanction letter no. LKB/ND/10894/2002 dated
28.12.2002 |
|
5.
Names, address and description of the
persons entitled to charge |
Lord
Krishna Bank Limited K-2,
Chaudhary Building, Connaught Place, New Delhi – 110 001, India |
|
6.
Date and brief description of instrument modifying the charge |
Letter
of Hypothecation and charge and hypothecation of Debts and Assets dated
15.01.2004 |
|
7.
Particular of modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
OCC
Limit stands enhanced from Rs. 50.000 millions to Rs. 180.000 millions
(including Rs. 80.000 millions Adhoc Limit) with interst @ 13@ p.a. Other
terms as per sanction letter no. LKB/ND/ /2003 dated 19.12.2003 |
Name of the Company : Ebony Retail Holdings
Limited
Presented by : -- Director
|
1.
Date and description of the instrument creating or evidencing the charge
|
Agreement
for negotiable instrument purchased / discounted dated 10.11.2005 |
|
2.
Amount secured by the charge /amount
owing on security of the charge |
Rs.
10.000 millions |
|
3.
Short Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
|
Bills
drawn by the suppliers and accepted by the company Hypothecation
of goods stored in premises at the
company at its works / godown at and
hypothecation of stock in trade, finished goods stored anywhere else and
belonging to the borrower and / or book debts, bills receivables, goods in
transit. |
|
4.
Gist of the terms and conditions and extent and operation of the charge. |
Above
is to be secured bills discounting limit of Rs. 10.000 millions Interest
@ BPLR – 1@ i.e. 11@ p.a. Other
terms and conditions as per sanction letter no. LKB/CP/17993/2005 dated
16.09.2005 |
|
5.
Names, address and description of the
persons entitled to charge |
Lord
Krishna Bank Limited K-2,
Chaudhary Building, Connaught Place, New Delhi – 110 001, India |
|
6.
Date and brief description of instrument modifying the charge |
N A |
|
7.
Particular of modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
N A |
Contact
Head Office
Mr. Lalit Kumar
Chief Executive Officer
F 2/1, Khanpur Extension, New Delhi – 110062, India
Phone: 91-11-29551296/ 29552057
Fax: 91-11-29552957
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.17 |
|
UK
Pound |
1 |
Rs.86.66 |
|
Euro |
1 |
Rs.57.25 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|