MIRA INFORM REPORT
|
Report Date : |
07.02.2007 |
IDENTIFICATION DETAILS
|
Name : |
THE FCML PROJECTS |
|
|
|
|
Registered Office : |
A-217, Okhla Industrial
Area, 1100120, New Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
September, 1996 |
|
|
|
|
Legal Form : |
Partnership Concern with an
unlimited liability of the partners. |
|
|
|
|
Line of Business : |
Subject acts as suppliers of hospitality industry products such as sanitary ware, C.P. fitting, bathroom accessories, bath tub, builder’s hardware, decorative light fixture in brass, copper & porcelain, carpets, signedhes, decorative items in brass & copper, marble & granite, mattresses, pillows, energy conservation systems, electromagnetic systems for fire doors, electronic safe, hair dryer, hand dryer, vacuum cleaners, trollies, stainless steel & silverware (EPNS), glassware (all types of glassware, plain & cut glass), crockery, display board, weighing & measuring instruments, upholstery, towels, chaffing dishes & food services items, pots and pans, banquet & pool furniture, purified drinking water, guest soaps, laundry detergents, kitchen hygiene systems, floor cleaners, toiletries, shampoo, moisturizers, bath gel and talcum powder. |
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 225000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established and reputed concern having satisfactory track. Partners
are reported as experienced, respectable and resourceful businessmen. Their
trade relations are fair. Payments are reported as correct and as per
commitments. Nothing adverse reported. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office/ Head
Office : |
A-217,
Okhla Industrial Area, 1100120, New Delhi-India |
|
Tel. No.: |
91-11-26372701-06 |
|
Fax No.: |
91-11-26814240/
41613545 |
|
Mobile No: |
91-9811071594/
9810014234 |
|
E-Mail : |
|
|
Area: |
600
Sq.ft |
|
Location: |
Owned |
|
|
|
|
Warehouse: |
A-217,
Okhla Industrial Area, 1100120, New Delhi-India |
|
Tel. No.: |
91-11-26814240/26817270/26372701-04 |
|
Fax No.: |
91-11-6818113 |
|
E-Mail : |
|
|
|
|
|
Showroom: |
Ø
Sultanpur Chowk,
Mehrauli-Gurgaon Road, New Delhi 110030 Tel. No.:
91-11-26800482/26800492 Ø
M-67, M Block Market,
G. K. II, New Delhi-110048 Tel. No.: 91-4053-6612-14 Ø
32, Khader Nawaz Khan
Road, Nungambakkam, Chennai-600034 Tel. No.: 91-44-55335550-2 |
|
Tel. No.: |
|
|
|
|
|
Branch: |
Located
At Ø
FCML Projects,
1083/1084, Adarsh Nagar, Andheri Link Road, Andheri (West), Mumbai 400058 Tel No.: 91-22-26741579/80 Mobile No.: 91-9820626227 Ø
Arch Bishop Mathias
Avenue, Chennai 600028, Tamilnadu, India Tel No.: 91-44-24354271 Fax No.: 91-44-24335801 Ø
No.402, 4th
Floor, Richmond Poollozio, No.5, Richmond Road, Bangalore-560025 Tel. No.: 91-80-51125763 |
PARTNERS
|
Name : |
Mr.
Nirmal Khandelwal |
|
Designation : |
Managing
Partner |
|
Address : |
C-783,
New Friends Colony, New Delhi 110065 |
|
Date of Birth/Age : |
56
Years |
|
Qualification : |
B.Com |
|
Experience : |
36
Years |
|
|
|
|
Name : |
Mr.
Abhinav Khandelwal |
|
Designation : |
Partner |
|
Address: |
C-783,
New Friends Colony, New Delhi 110065 |
|
Age: |
33
Years |
|
Qualification: |
Graduate |
|
Experience: |
13
Years |
|
|
|
|
Name : |
Mrs.
Madhu Khandelwal |
|
Designation : |
Partner |
|
Address: |
C-783,
New Friends Colony, New Delhi 110065 |
|
Age: |
54
Years |
|
Qualification: |
Graduate |
|
Experience: |
30
Years |
BUSINESS DETAILS
|
Line of Business : |
Subject
acts as suppliers of hospitality industry products such as sanitary ware,
C.P. fitting, bathroom accessories, bath tub, builder’s hardware, decorative light fixture in brass, copper
& porcelain, carpets, signedhes, decorative items in brass & copper,
marble & granite, mattresses, pillows, energy conservation systems,
electromagnetic systems for fire doors, electronic safe, hair dryer, hand dryer, vacuum cleaners,
trolleys, stainless steel & silverware (EPNS), glassware (all types of
glassware, plain & cut glass),
crockery, display board, weighing & measuring instruments,
upholstery, towels, chaffing dishes & food services items, pots and pans,
banquet & pool furniture, purified drinking water, guest soaps, laundry
detergents, kitchen hygiene systems, floor cleaners, toiletries, shampoo, moisturizers, bath gel and talcum
powder. |
|
|
|
|
Agencies Held : |
Ø
Manu Sec, France Ø
Jhohnson Wax
Professional India Private Limited, India Ø
Jacob Delafone, France Ø
RND Marketing Demesta,
U.K. Ø
Euroglass Systems
Limited, New Zealand Ø
Nikko-Patra Crockery,
Japan Ø
Milliken and Company,
U.S.A Ø
Dorn Bracht, Germany Ø
Inda, Italy Ø
Borsoil, India Ø
R. Demesta, U.K. Ø
Interlock, New Zealand Ø
Kimberly Clark, U.S.A. Ø
Better Living
Products, Canada Ø
Kolher, France Ø
Johnson Diversey Ø
GESSI, Italy Ø
Gilette India Ø
Grahe |
|
|
|
|
Exports to : |
USA,
UK, Russia, France, Sri Lanka and UAE |
|
|
|
|
Imports from : |
USA,
Canada, Germany, France, Italy, Japan and Sweden |
|
|
|
|
Terms : |
|
|
Selling : |
Cash
and Credit (30/60/90 Days) |
|
|
|
|
Purchasing : |
L/C
and Credit (30/60/90 days) |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users Some of the major customers
are : Ø
ITC Hotels Limited,
India Ø
East India Hotels
Limited, India Ø
Taj Group of Hotels,
India Ø
Le Meridien, India Ø
Raddison Hotel (AB
Hotels Limited), India Ø
Southern Pacific Hotel
Corporation, India Ø
Holiday Inn Chain of
Hotels, India Ø
Leela Kemipnski, India Ø
Hyatt Regency, India Ø
Guest Line Days Inn,
India Ø
Serling Resorts, India Ø
ITDC Chain of Hotels,
India Ø
International Group of
Hotel, India Ø
Pizza Hut, India Ø
Pizza Corner, India Ø
Marriant Group of
Hotel, India |
|
|
|
|
No. of Employees : |
59 |
|
|
|
|
Bankers : |
Ø
Punjab & Sind
Bank, Chawri Bazar, Delhi – 110 006 Ø
Canara Bank,74,
Janapath, New Delhi – 110 018 |
|
|
|
|
Facilities : |
The
concern reported to enjoy credit of Rs.35.000 millions from its Canara Bank. |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
P.K.
Behl & Company Chartered
Accountant |
|
Address: |
108,
Jama Masjid, Delhi 110006 |
|
Tel. No.: |
91-23268305/
23277698 |
|
|
|
|
Sister Concern: |
Name:
Ajanta Trading Company, India Address:
3607, Chawri Bazar Line
of Business: Trading Name:
FCML Distributors Private Limited Address:
A 217, Okhla Industrial Area, 1100120, New Delhi-India Line
of Business: Trading |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.7.910
millions |
|
Borrowed : |
-- |
|
Total : |
Rs.7.910
millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
183.617 |
138.495 |
119.252 |
|
|
|
|
|
|
Exports |
0.400 |
0.200 |
0.300 |
|
|
|
|
|
|
Import |
66.300 |
43.192 |
32.184 |
|
|
|
|
|
|
Net Profit |
4.649 |
1.904 |
1.146 |
Projected Turnover for
Current year (2006-07): Rs.280.000 millions
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
7.910 |
15.155 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWORTH
|
|
7.910 |
15.155 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
36.781 |
23.293 |
|
|
2] Unsecured Loans |
|
13.378 |
13.615 |
|
TOTAL
BORROWING
|
|
50.159 |
36.908 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
58.069 |
52.063 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
|
9.888 |
7.718 |
|
Capital work-in-progress
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
|
11.255 |
5.520 |
|
DEFERREX TAX ASSETS
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
40.761
|
34.815 |
|
|
Sundry Debtors
|
|
66.621
|
34.518 |
|
|
Cash & Bank Balances
|
|
5.552
|
1.161 |
|
|
Other Current Assets
|
|
0.000
|
0.000 |
|
|
Loans & Advances
|
|
9.627
|
3.405 |
Total Current Assets
|
|
122.561
|
73.899 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
|
85.635
|
|
|
|
Provisions
|
|
0.000
|
|
Total Current Liabilities
|
|
85.635
|
35.074 |
|
Net Current
Assets
|
|
36.926
|
38.825 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
58.069 |
52.063 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
Sales Turnover [including other income]
|
|
278.416 |
183.617 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
|
8.827 |
4.449 |
Provision for Taxation
|
|
0.000 |
0.000 |
Profit/(Loss) After Tax
|
|
8.827 |
4.449 |
|
|
|
|
|
Total Expenditure
|
|
47.398 |
33.125 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
|
3.17 |
2.42 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
3.17 |
2.42 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total Assets} |
(%) |
|
6.66 |
5.45 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
1.11 |
0.29 |
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
|
17.17 |
4.75 |
|
|
|
|
|
|
Current Ratio
(Current Asset/Current
Liability) |
|
|
1.43 |
38.82 |
LOCAL AGENCY FURTHER INFORMATION
Trade References :
Mr.
S. Govindrajan,
ITC
Hotels Limited, Plot -10, Sector -32, Institutional Area, Gurgaon-122002
Tel.
No.: 95124-4171717 (Extension -2014)
Mr.
Gurcharan,
Taj
Mahal Hotel, No.1, Mansingh Road, N.D.II
Tel.
No.: 91-230261
Mr.
Manish Uppal,
Uppal
Builders, S-19, Panchsheel Park, N.D.
Tel.
No.: 91-41745596
Profile :
Subject
is a pioneering supply company in business since 1840s and actively servicing
the hospitality and allied sectors for the last 5 decades with an exclusive
range of internationally bench-marked products. A well-entrenched player with
high industry recall subject has for the past 4 decades distributed
expeditiously for global Giants such as Milliken (U.S.A.), Kohler (USA,
France), Alape (Germany), JVD (France), Jerdon (USA), Tefal (France), Bormioli
Rocco (Italy), Nikko-Patra (Japan), Mepra (Italy), Valera (Switzerland),
Johnson Divesey, Springfit, Gillette India, Balsara Home Products, Luxor
Parker.
Subject
has distinct set of values guiding its decisions. Its vision is promoted not by
any kind of idealism, but an understanding that the customer is still the king
who wears the crown of satisfaction. That is why the service delivery of each
product launched by subject os vigilantly monitored, its cost offer clients the
best of weighed, user satisfaction periodically evaluated simply to offer
clients the best of prodycts. Subject is technologically neutral and has no
brand bias. It is only service- sensitive and wants that this new millennium
sees a more powerful and hospitable hotel industry that ultimately works in the
larger interest of the country’s growth and development.
Customer
satisfaction with product and service deliveries have merited subject with an
appreciable clientele comprising reputed hotel chains including none other than
The Taj Group, The Oberoi Group, The ITC (Sheraton) Group, Inter Continental
Chain, The Hyatt Group, The Radisson Hotel chain, The Jaypee and Meridian
Group, The Leelas and others; service sensitive hospitals such as Escorts,
Apollo, MaxIndia; professionally managed business schools with high image value
such as the Indian School of Business (Hyderabad), Pathways (Sons); besides
reputed players in the Corporate world such as Hindustan Times, Raymonds, Birla
Group Housing, GE Capital, Bhartiya Telesoft, Gopal Zarda- to name just a few.
With
ambitious expansion plans to establish itself as the single window outlet to
cater to not just premium life-style products but also routine items for the
ever increasing clientele, subject has now branched off into undertaking
various turnkey interior projects for the hospitality industry particularly the
hotels. With this diversification, subject has now further extended its
contribution from 75% to almost a one-stop shop for comprehensive need
fulfillment for the industry thereby minimizing market research time and
maximizing cost-benefit for the industry. The extra benefit comes from the fact
that subject routinely undertakes evaluation of the products and client
satisfaction to constantly up grade the product range to be offered to its
valuable client.
International Choice, Global Benefits :
For
subject, globalization has come with responsibilities. It has generated
a multi-product environment, facilitated a faster response time to change and
encouraged subscription to globally accepted standards of quality, prompt
delivery and price reasonability. In their endeavour to pass on the benefits of
globalization to its customers. Subject has forged beneficial economic linkages
with leading companies thereby introducing the Indian audience to products and
services that conformed to highest international standards. Some such domestic
and international business partnerships are given below that offer clients more
choice, more economy and more satisfaction.
For Bathrooms
|
Company |
Country
|
Products |
|
Kohler |
USA,
France |
Sanitary
ware, Whirlpool and Faucets |
|
Flaminia |
Italy |
Sanitary
ware |
|
Gessi |
Italy
|
Faucets |
|
Dorn
Bracht |
Germany |
Faucets |
|
Art
Ceram |
Italy |
Wash
Basin |
|
Alape |
Germany |
Wash
Basin |
|
Pomdor |
Spain |
Bathroom
Accessories |
|
Intra |
Denmark |
Wash
Basin |
|
Grohe |
Germany |
Faucets |
|
Zerreri |
Italy |
Faucets |
|
White
Stone |
Italy |
Wash
Basin |
|
EOS |
Italy |
Wash
Basin |
|
Hoesch |
Germany |
Bathtub
and Whirlpool |
|
Mr.
Steam |
USA |
Steam,
Generator Systems |
|
Euroglass |
New
Zealand |
Hardware
for shower cubicle |
|
Valera |
Switzerland |
Hair
Dryers |
|
Demista |
UK |
Anti
Fogging Heat Pads for Mirrors |
|
Jerdon |
USA |
Shaving/
Make Up Mirrors |
|
JVD |
France
|
Automatic
Hand Dryers/ Hair Dryers |
|
Grok |
Germany |
Faucets |
|
Ozone |
Taiwan |
Personal
Weighing Scales |
|
Never
Slip |
India |
Anti
Slippery Bath Scales |
|
FCML |
India |
Bathroom
Accessories : Glass Basin, Towel Racks, Towel Rail, Soap Dish, Robe Hook,
Shoe Shine Hook, Curtain Rod, Hide A Line |
For Rooms :
|
Company |
Country
|
Products |
|
Interlock |
New
Zealand |
Concealed
Security Chain for Guest Room Doors |
|
Milliken |
USA |
Carpets |
|
Tefal |
France |
Kettles,
Ironing Centre, Tray Sets |
|
Panasonic |
Japan |
Plasma,
LCD, Massage Lounger and all other items |
|
Grok |
Spain |
Lights |
|
Saflock |
China |
Door
Locks |
|
Sanyo |
Japan |
Radio
Alarm Clocks |
|
Kleo,
Kysu |
Turkey |
Mini
bar |
|
Ozone |
India |
Electronic
Safes, Weighing Scales |
|
Hettich,
Ozone |
India |
Wardrobe/
Rooms Hardware |
|
Springfit |
India |
Mattress
and Bed Base |
|
Luxor-Parker |
India |
Pens |
|
FCML |
India |
Signages
: In Brass, Stainless Steel, Iron, Glass etc. |
|
FCML |
India |
Light
Fittings : Custom made decorative light fittings |
For Table Top and Kitchen Accessories
|
Company |
Country
|
Products |
|
Bormioli
Rocco |
Italy |
Complete
range of table top glass ware |
|
Durobar |
Belgium |
Glassware |
|
Ocean |
Thailand |
Glassware |
|
Cristal
D’Arques |
Paris |
Glassware |
|
Nikko
|
Japan |
Bone
China and Perception Porcelain Crockery |
|
Patra
(Nikko) |
Bangkok |
Kettles |
|
Tefal |
France |
Cutlery,
Flatware, Holllow-ware |
|
Mepra |
Italy |
Pepper
Mills |
|
Olde
Thompson |
USA |
Ice
Cube Machine |
|
Brema |
Italy |
Cutlery,
Flatware, Hollow-ware |
|
Venus |
India |
Dining
Sets, beverage sets, home décor, bath/bar |
|
Artdinox |
India |
Accessories |
|
FCML |
India |
Customized
items for table tops |
For Public Area/ Hygiene Products
|
Company |
Country
|
Products |
|
Better
Living Products |
Canada |
Soap
Dispensers |
|
JVD |
France |
Automatic
Hand Dryers/ Hair Dryers |
|
Kimberly
Clarke |
India |
Soap
Dispensers, Soap Refills, Tissue Paper and Dispensers, Tissue:
(Toilet/Facial/Kitchen/Inds.) Personal Seat Cover Dispensers, Hand Towels,
Utility Wipes |
|
Johnson
Diversey Lever |
India |
Soap,
Detergents, Mops and Vacuum Cleaners |
|
Shuscho |
India |
Shoe
Dryers and Instant Shoe Shine |
|
Black
and Decker |
India |
Hair
Dryers and Other Accessories |
|
Balsara
Home Products |
India |
Promise
Toothpaste and Toothbrush, Odonil Sticks, Sanifresh, Room Fresheners |
|
Gillette/Wilkinson |
India |
Razors,
Shaving Cream |
|
Ozone |
India |
Staircase
Railing/Glazing |
|
Prudent |
India |
Toothpaste
and Toothbrush |
|
FCML |
India |
Waste
Bins, Decorative Brass items, Planters, Barricading Poles, Display Boards,
Newspaper Stands, Panic Bars, Trolleys Signages etc. |
DOMESTIC – TIE-UPS
|
Company
|
Products |
|
AOS |
Auto
Flash Systems And Auto Tap |
|
Balsara
Home Products |
Promise
Toothpaste And Toothbrush, Odonil Sticks |
|
BMW |
Wrought
Iron Furniture, Decorative Grills |
|
Bombay
Dyeing |
Bed
Linen, Pillow Covers and Towel |
|
Borosil |
Table-
Top Glassware And Other Accessories |
|
Black
And Decker |
Hair
Dryers And Other Accessories |
|
Diversey
Lever |
Soap
And Detergents |
|
Duracel |
Battery |
|
Earl
Bihari (EBCO) |
Hardware |
|
Gillete/Wilkinson |
Razors
And Shave |
|
Hydro
Bath |
Acrylic
Bath Tubs, Jacuzzi Shower Trays, Body Spray Shower |
|
Kimberly
Clark |
Soap
Dispensers, Soap Refills, Tissue Paper Dispenser, tissue Paper Personal Seat
Cover Dispenser, Hand Towels, Utility Wipes |
|
Krups |
Personal
Weighing Scale |
|
Libra |
Personal
Weighing Scale |
|
Luxor
Parker |
Pens |
|
Never-Slip |
Anti
Slip Mats |
|
Oral
B |
Tooth
Brushes |
|
Ozone |
Electronic
Safes, Weighing Scale |
|
Prudent |
Tooth
Brush And tooth paste |
|
Siemens |
Hair
Dryers |
|
Shushco |
Shoe
Shine Machine, Instant Shoe Shine |
|
Snoozer
Beddings |
Bed
Base And Mattress |
|
Venus |
Chaffing
Dish, Hollow-ware, Cutlery |
|
FCML |
Bathroom
Accessories – Towel racks, Towel Rail, Grab Bar, Soap Dish, Robe Hook, Shoe
Shine Hook, curtain Road, Hide-a-Line, |
|
|
Ashtrays,
Dustbins, Decorative Brassware Items, |
|
|
Function
Board, Display Board, Barricading Poles and a whole range of other customized
items. |
|
FCML |
Signage
– In Brass, Stainless Steel, Iron, Glass, etc. |
|
FCML |
Light
Fitting – Custom made decorative Light fitting. |
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.44.13 |
|
UK
Pound |
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.56.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |