MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
HIGH
POLYMER LABS LIMITED |
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Registered Office : |
803, Vishal Bhavan, 95, Nehru Place, New Delhi – 110019 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.08.1976 |
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Com. Reg. No.: |
55-8309 |
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CIN No.: [Company
Identification No.] |
U25209DL1976PLC008309 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELH00318D |
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Legal Form : |
Closely held public limited liability
company |
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Line of Business : |
Manufacturing of Antioxidants, Azodicarbonamide, Blowing agents, Speciality Chemicals and Water Treatment Chemicals. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD
4250000 |
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Status : |
Good |
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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 concern having satisfactory track. Partners
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/ Corporate Office : |
803, Vishal Bhavan, 95, Nehru Place, New Delhi – 110019, India |
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Tel. No.: |
91-11-26431379/26431522/26421570/26421571 |
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Fax No.: |
91-11-26474350/26460981 |
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E-Mail : |
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Website : |
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Area : |
1200 Sq.ft. |
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Location : |
Owned |
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Overseas
Office : |
4 Fairhaven Mall, Suite # E-15, Minneola. NY-11501, USA |
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Tel.
No.: |
(516) 294 3387 |
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Fax
No.: |
(516) 294 1034 |
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E-Mail
: |
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International Office (USA) : |
High
Polymer Labs, Inc., 21 Sagamore Lane, Dix Hills, NY 11746. USA |
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Tel.
No.: |
(631) 643 5714 |
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Telefax
No.: |
(631) 643 5715 |
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E-Mail
: |
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Factory
1 : |
Plot No.6,7,8, Sector 25, Ballabhgarh, Faridabad – 721 004, Haryana |
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Tel.
No.: |
91-129-2232355/2232911/2232912 |
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Fax
No.: |
91-129-2232586 |
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Factory
2 : |
Village Bhagwanpur, Derabassi-Barwala Road, Derabassi – 140 517, Punjab |
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Tel.
No.: |
91-1762-270701/270291/270376 |
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Fax
No.: |
91-1762-270702 |
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Factory
3 : |
Plot No.72, Sector 25, Ballabgarh, Faridabad – 121 004, Haryana |
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Tel.
No.: |
91-129-2232350 |
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Factory
4 : |
Village Dudhaula, Prithla-Datir Road, Tehsil Palwal, Faridabad – 121 004, Haryana |
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Branches
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Located at :- v Mumbai, Maharashtra v Hyderabad, Andhra Pradesh v Kolkata, West Bengal v Chandigarh |
DIRECTORS
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Name : |
Mr. Harcharan Singh |
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Designation : |
Chairman |
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Address : |
174-A, Sainik Farms, Khanpur, New Delhi – 110 062. |
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Date of Birth/Age : |
22.07.1937 |
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Date of Appointment : |
01.01.2004 |
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Name : |
Mr. Umesh Anand |
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Designation : |
Managing Director |
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Address : |
K-210, Sainik Farms, New Delhi – 110 062. |
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Date of Birth/Age : |
16.10.1964 |
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Date of Appointment : |
01.06.2002 |
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Name : |
Mr. Satpal Singh |
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Designation : |
Director |
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Address : |
Whole time House No.439, Sector 14, Faridabad, Haryana |
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Date of Birth/Age : |
08.08.1944 |
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Date of Appointment : |
01.01.2004 |
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Name : |
Mr. Amarjeet Kalra |
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Designation : |
Director |
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Address : |
38 B, Sector 21 A, Urban Estate, Faridabad, Haryana |
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Date of Birth/Age : |
14.09.1949 |
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Date of Appointment : |
14.11.2004 |
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Name : |
Mr. Ajay Relan |
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Designation : |
Director |
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Address : |
C-121, Defence Colony, New Delhi – 110 024 |
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Name : |
Mr.
Kundan Singh Toon |
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Designation : |
Director |
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Address : |
D-1/14,
Janakpuri, New Delhi-110058 |
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Date of Birth/Age : |
10.06.1938 |
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Date of Appointment : |
16.09.2004 |
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Name : |
Mr.
Anil Kumar Soni |
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Designation : |
Director |
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Address : |
G-4,
Haus Khas, 2nd Floor, Anupama Building, New Delhi-110016, Delhi |
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Date of Birth/Age : |
18.02.1945 |
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Date of Appointment : |
30.09.2003 |
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Name : |
Mrs.
Veena Choudhary |
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Designation : |
Director |
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Address : |
H.
No.22, Taxila Apartments, IIT Campus, Hauz Khas, New Delhi-110016, Delhi,
India |
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Date of Birth/Age : |
05.01.1951 |
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Date of Appointment : |
13.10.2005 |
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Name : |
Dr.
Krishna Kumar Saxena |
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Designation : |
Director |
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Address : |
25
E/4, Model Town, Balrajeshwar Road, Mulund (West), Mumbai-400080,
Maharashtra, India |
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Date of Birth/Age : |
15.08.1939 |
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Date of Appointment : |
13.10.2005 |
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Name : |
Mr.
Rajesh Sehgal |
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Designation : |
Director |
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Address : |
102/2
and 3, L.B.S. Marg, Mulund Colony, Mulund (West), Mumbai-400082, Maharashtra, |
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Date of Birth/Age : |
16.02.1971 |
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Date of Appointment : |
13.10.2005 |
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Name : |
Mr.
Dilip Digamber Ravetkar |
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Designation : |
Director |
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Address : |
I-202,
Nav Pinnac, Kanchanganga, Aundh, Pune-411007, Maharashtra |
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Date of Birth/Age : |
29.07.1953 |
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Date of Appointment : |
13.10.2005 |
KEY EXECUTIVES
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Name
: |
Mrs.
Charu Saluja |
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Designation
: |
Company
Secretary |
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Address
: |
C
3A-12C, Janakpuri, New Delhi-110058, Delhi |
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Date
of Birth/Age : |
09.06.1973 |
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Date
of Appointment : |
01.08.1998 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr. Harcharan Singh |
1839928 |
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Mr. Satpal Singh |
306815 |
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Clear Chem Private Limited |
244567 |
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HPL Mercantile Private Limited |
567926 |
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HPL Securities Private Limited |
871344 |
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Mr.
Manjinder Pal Kaur |
1011755 |
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HPL
Industries Private Limited |
1587952 |
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Mr.
Maninder Kaur |
312946 |
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Mrs.
Mona Anand |
447619 |
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Mrs.
Minal Anand |
328581 |
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Mrs.
Minal Anand |
328581 |
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Mrs.
Ritu Singh |
34952 |
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Mrs.
Arpana Singh |
155337 |
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Mrs.
Simran Singh |
148430 |
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Mr. A.
D. Singh |
251600 |
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Mrs.
Annupreet Singh |
157567 |
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Mr.
Umesh Anand |
161085 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Amioxidants,
Azodicarbonamide, Blowing Agents, Speciality Chemicals and Water Treatment
Chemicals. |
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Products : |
Generic Names of Principal Products of the company are : v AZO Initiators v Blowing Agent v Water Treatment Chemicals v Antioxidants v Biocides v Speciality Chemicals v Industrial Chemicals v Activator v Polymer Additives – property Extenders, Modifiers, Polymerisation catalysts v Specialty Chemicals – for water treatment, for pharma intermediates, for agro intermediates, for photographic chemicals, for personal care v Industrial Chemicals – hydrazine hydrate
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PRODUCTION
STATUS
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Particulars |
Unit |
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Installed Capacity |
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Blowing Agents Speciality |
MT |
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4000 |
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Treat Chambers |
MT |
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800 |
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AZO Initiators |
MT |
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200 |
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Antioxidants |
MT |
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-- |
GENERAL
INFORMATION
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No. of Employees : |
195 |
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Bankers : |
v IDBI Bank Limited, Siri Fort, New Delhi – 110 016 v Canara Bank, DDA Building, Nehru Place, New Delhi – 110 019 v Canara Bank, Foreign Exchange Department, DDA Building, Nehru Place, Delhi - 110 016 v Citibank NA, Jeevan Vihar Building, 3, Sansad Marg, New Delhi-110001, Delhi, India |
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Facilities : |
Secured Loans :
Unsecured Loans :
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Banking Relations : |
Satisfactory |
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Auditors : |
BSR & Company Chartered Accountants 4 B, DLF City, Phase 2, Gurgaon-122002, Haryana, India |
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Memberships : |
v CHEMEXCIL v PHD Chamber of Commerce & Industry v Indo-German Chamber of Commerce v Indo-African Chamber of Commerce v Associated Chamber of Commerce & Industry of India |
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Associates/Subsidiaries : |
v HPL Group of Companies v HPL Investments 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 |
|
12402774 |
Equity Shares |
Rs.10/- each |
Rs.124.028 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
124.027 |
71.667 |
71.667 |
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2] Share Capital Suspense |
0.000 |
12.861 |
0.000 |
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3] Reserves & Surplus |
940.194 |
467.694 |
340.446 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1064.221 |
552.222 |
412.113 |
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LOAN FUNDS |
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1] Secured Loans |
264.885 |
173.726 |
101.543 |
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2] Unsecured Loans |
0.930 |
2.769 |
1.868 |
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TOTAL BORROWING |
265.815 |
176.495 |
103.411 |
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DEFERRED TAX LIABILITIES |
106.090 |
57.238 |
41.865 |
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TOTAL |
1436.126 |
785.955 |
557.389 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
859.037 |
383.499 |
275.771 |
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Capital work-in-progress |
37.446 |
119.528 |
64.899 |
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INVESTMENT |
24.695 |
24.972 |
24.671 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
277.469
|
202.146 |
142.187 |
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Sundry Debtors |
243.295
|
163.444 |
99.767 |
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Cash & Bank Balances |
66.725
|
13.283 |
6.560 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
144.702
|
55.678 |
43.773 |
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Total Current Assets |
732.191
|
434.551 |
292.287 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
185.997
|
173.850 |
85.423 |
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Provisions |
31.349
|
3.049 |
14.816 |
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Total Current Liabilities |
217.346
|
176.899 |
100.239 |
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Net Current Assets |
514.845
|
257.652 |
192.048 |
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MISCELLANEOUS EXPENSES |
0.103 |
0.304 |
0.000 |
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TOTAL |
1436.126 |
785.955 |
557.389 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
1244.009 |
1013.694 |
688.814 |
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Profit/(Loss)
Before Tax |
194.296 |
123.653 |
73.276 |
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Provision
for Taxation |
73.418 |
39.781 |
20.053 |
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Profit/(Loss)
After Tax |
120.878 |
83.872 |
53.223 |
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Total
Expenditure |
1049.713 |
890.041 |
580.702 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
9.72
|
8.27 |
7.73 |
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Net
Profit Margin (PBT/Sales) |
(%) |
15.62
|
12.20 |
10.64 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
12.21
|
10.25 |
12.90 |
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Return
on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.22 |
0.18 |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
0.45
|
0.64 |
0.49 |
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Current
Ratio (Current
Asset/Current Liability) |
|
3.37
|
2.46 |
2.91 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of
charges
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Name of the company |
HIGH POLYMER LABS LIMITED |
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Presented By |
Canara Bank, Nehru Place, New Delhi-19 |
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1) Date and description of instrument creating the change |
Agreement dated 06.09.1995 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.22.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of raw material, stocks in process, finished goods and other imported raw material situated at Plot No.8, Sector -25, Ballabgarh (Haryana) All the book debts, outstanding moneys, receivables, claims and bills arising out of the sale, disposal, of the goods received under ILC/FLC/Bank Guarantee limit both present and future. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest @20% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Nehru Place, New Delhi-19 |
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6) Date and brief description of instrument modifying the charge |
Letter evidencing extension of equitable mortgage alongwith schedule A and B dated 26.05.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Earlier
Modification : Modification on 22.04.2002 (Registered on 03.05.2002) and finally on 26.03.2004 (Registered on 20.05.2004) for collateral security as equitable mortgage of land and building situated at Ballbgarh and Dudhola District Palwal (Haryana) for various credit facilities of Rs.262.500 millions. Present
Modification : ILC/FLC Limit of Rs.50.000 millions within the overall enhanced various credit facilities of Rs.413.000 millions i.e. OCC/ODBD-85.000 millions (sub limit for PC-50.000 millions), FDB/FBE (O)/NPBLC-20.000 millions, FDB/FBE (PBLC)-20.000 millions ILC/FLC-50.000 millions, BG-5.000 Millions, Term Loan 1-Rs.18.000 millions, Term Loan 2-Rs.65 millions, Term Loan 3- Rs.150.000 millions is further collaterally secured by way of Equitable mortgage of all thet piece and parcel of land and building situated at Plot No.6, 7 and 8, Sector -25, Faridabad, Haryana total admeasuring 29500.00 Sq.yards. Mustatil No.30, 30, 31, 31 Khasra No.10, 11, 6, 15 admeasuring 17 Kanals, 11 Marla; Mustatil No.30, 41 Kharsa No.22/2, 3/1,2, admeasuring 6 Kanals, 2 Marla; Mustatil No.41 Khasra No.2/1, 10/1/3 admeasuring 4 Kanals, 3 Marla, Mustatil No.41, 41, 31, 31, 30, Khasra No.1/2/2, 10/1/2, 14/2, 15/2, 11 admeasuring 5 Kanals, 8 Marla, Mustatil No.41, 43, Khasra No.2/2, 3/1/1/1 admeasuring 10 Marla; Mustatil No.30, 30, 30, 30 Khasra No.2/2, 3, 8/2, 9/2, 9/2/1 admeasuring 18 Kanals, 7 Marla; Mustatil No.41, 31, 30 Khasra No.1/2, 9/2, 10/1, 10/2, 15/3, 16, 17, 11, 12/1, 9/2, 20/2 admeasuring 37 Kanals, 16 Marla, Mustatil No.31, Khasra No.23/2, 24/1, 24/2, 25/4, 25/2 admeasuring 17 Kanals, 13 Marla, Mustatil No.41, 31, 30 Khasra No.1/2, 9/2, 10/1, 10/2, 15/3, 16, 17, 11, 12/1, 9/2, 20/2 admeasuring 37 Kanals, 15 Marla, Dahtil Sohna Road, Village Dudhola, Tehsil Palwal District Faridabad, Haryana existing and/or to be constructed thereon and shown under schedule B together with easemantry and appurtenants thereto including all structures and machinery items standing/installed thereon and to be put up in future. Other terms and conditions remain same. |
Subject is a flagship company of the HPL group which was founded in 1964.
BUSINESS
It also acts as importers and exporters.
The company has been accredited with ISO 9001 certification in 1997.
Initially the company started out to manufacture only Chemical blowing agents for plastics and rubbers. It has also diversified to produce Antioxidants for plastics, Azo-initiators, Hydrazine hydrate, Activators for chemical blowing agents, Biocides and Speciality Chemicals.
Subject has established a formidable reputation in both the international and domestic markets for being a producer of ‘World Class’ chemicals. Being the single largest player, with over 75% share of the Indian market, for most of its products subject products have also been widely accepted in the discerning market of the West, with exports currently being made to approximately 20 countries across the world through its international distribution and agency network.
Company’s fixed assets include Land, Building, Plant and Machinery, Agricultural Plant and Machinery, Furniture and fixtures, Office Equipments, Vehicles, Other fixed assets, Air conditioner, Computer, and Research and Development Assets.
Manufacturing:
Over the year the company has established a strong manufacturing base through appropriate and timely investment in the required Infrastructure. The company has four plants-three in Delhi and the fourth in Punjab. The plants are equipped with ‘state of the art’ equipment, instruments and processes that ensure consistent quality.
Subject employs around 195 persons in its set up comprising of 150 persons in factory premises, 35 persons in office premises and 10 are others.
Website Details :
History
Inception In 1964
Ever since its
inception in 1964, subject has always endeavored to cover all segments of
customers and has therefore provided flexibility in its product range. Tailor
made products are provided for customer-specific needs and operating
conditions.
Multi Product Profile
Although subject had started as a Polymer Additive manufactures, it has
successfully diversified into Biocides, Polymerisation Catalysts, Photographic
Chemicals, Pharma and Agro intermediates.
They believe in providing solutions rather than products only. They have added
many products in the same group and have gone for diversification at appropriate
opportunity. At present, there are around 60 products for different
applications and many more in pipe line.
Philosophy
Customer
Care
Subject believes that all it's achievements are
through interactive relationship with customers. Be it external customer or
internal customers. Subject is even thankful to its competitors who have a
significant contribution to its success. They owe their success to their
customers and shall strive to deliver the best to them - Always.
Vendor
Development
They at
subject, feel that vendor is a partner to their strength and occupies a seat
only next to their customer. A closer interaction with vendors has given us a
competitive edge in sourcing their needs. Honestly, they could not be fair to
their customers without the support of their vendors.
Employee Care
Subject is a professional
corporation. It believes that it is the people who make an organization
successful. It enjoys very cordial Industrial Relations. Motivation, Rewards
and Welfare Schemes for employees and their families have further strengthened
the relationship and professional commitment.
Socially
Responsible Business
Subject has a firm conviction that
any business must have a social concern. It is their constant effort to make
their products, processes, installations safer and environment friendly. New
environment friendly technologies, processes are being researched constantly.
As a gesture of goodwill and being a big brother, Subject runs a number of
welfare schemes at community level in the areas of education and health.
Health and Safety :
Environmental Health
And Safety (EHS) Cell
Subject group has
commissioned an Environment Health and Safety cell which addresses related
issues. Audits get conducted on process, products and installations both
internally as well as externally from reputed organizations. Awareness,
trainings, skill up gradation programmes, mock drills are a part of being fit
and safe.
Safety Audits
An in-house team of
Environment Health and Safety (EHS) engineers audits all plants at regular
intervals. Third party audits are also conducted annually by reputed
international consultants.
Mission
The HPL Group shall
strive to improve the Occupational Health and Safety standards of all its units.
Objectives
v
To reduce the
incidence of occupational disease amongst its employees.
v
To improve the
general health standards by improving cleanliness, housekeeping and hygiene
standards at the work place.
v
To introduce safe
installation and operational practices.
v
To train and
educate all concerned with respect to safety, emergency preparedness, use of
PPE and housekeeping.
v
To improve
productivity by enhancing the confidence level of all with respect to plant,
machinery, process, products and wastes.
Medical Check-up And Training on Health
All employees undergo
regular medical examination for occupational ailments. Ailing employees are
provided medical treatment and steps are taken to prevent its recurrence. This
is done by a team of environmental engineers and in-house physicians. The
medical officers also train employees on occupational health, hygiene and
family welfare.
Antidotes
To meet emergencies
arising out of accidents, there is a ready stock of antidotes available at all sites.
Training is conducted periodically to educate the workforce about the use of
antidotes and first aid.
On-site Emergency Plan
All manufacturing
sites have established On-Site emergency plans (Disaster Management Plans).
These plans are based on the nature and type of operations, the possible
accidents and emergencies arising out the operations, and the scale of the
emergency. Training and mock drills are conducted based on these plans. They
are reviewed and modified whenever there is a change in the process or
technology at large.
On-site emergency
plans clearly define the hierarchy through a responsibility matrix. This
ensures a clear chain of command during an emergency and prevents duplication
and/or neglect of vital response activities.
Mock Drills
'Mock Drills' are
conducted to ascertain the level of preparedness to tackle emergencies arising
out of fire, gaseous leaks, and other accidents. They are conducted at regular
intervals, recorded and evaluated for response time, effectiveness and
mitigation.
Industrial Relations :
Transparent
Policies
There is a sufficient transparency between the
management and employees, the company and its customers, vendors and other
related agencies. This is ratified annually through Customer Satisfaction
Surveys and Employee Satisfaction Surveys.
Responsible
Trade Union
There is a single trade union operating at all sites.
The fact that there has been no labour unrest in 38 years reflects the level of
transparency and fair practices on the part of the management. The trade union
is a key player in improving the productivity, safety, and maintenance of good
Industrial relations in the company.
Participative
Decisions
Employees are encouraged to participate in the
decision making process. This is done at a number of forums like - Safety
meetings, Welfare committee meetings, Productivity improvement committee
meetings, Disciplinary committee meetings, and Quality Circles etc.
Welfare
Schemes
As a step forward, Subject has installed many welfare
schemes for the employees, their families and society in general.
Safety and productivity awards
Safety is a key focus area. Awards have been
instituted and are given to individuals who are judged as having contributed to
improving and maintaining the safety standards in the company. Productivity
linked bonus and reward schemes prevalent in the company brings about enhanced
productivity at all levels. Individuals, teams, and departments depending on
the performance are awarded these incentives. This has a very positive impact
in improving productivity.
Employee's
Rehabilitation Schemes
The company recognizes and values the association and
contribution of all its employees. In case of permanent disablement/death of an
employee, there is a scheme for rehabilitation of the family. This is over and
above employee benefit schemes like Provident Fund, Gratuity and Group
Insurance.
Soft loans
Loans are provided on subsidized and soft terms to
employees to construct homes, purchase vehicles, and white goods. This is done
to ensure all employees are able to maintain a certain standard of living.
Loans are also provided to employees on the occasion of the marriage of their
dependants.
Families
Tuition fee for wards
As part of the employee benefit scheme tuition and
other education related expenses are reimbursed for select and deserving
children of employees.
Society
Community health and education
There is a tremendous concern for the health of the
community and society at large. The company funds and sponsors many primary
health centers in rural and urban areas in and around Delhi.
A number of scholarships and charity funds have been instituted and sponsored
by the company at leading educational institutions to promote excellence across
various fields.
Distribution Network :
International
Indian
Sub - Continent
v India
v Bangladesh
v Nepal
v Sri
Lanka
America's
v Argentina
v Brazil
v Canada
v Chile
v Mexico
v USA
Asian
and Far East
v China
v Indonesia
v Japan
v Korea
v Malaysia
v Myanmar
v Singapore
v Thailand
Emea
Europe
v Belgium
v France
v Germany
v Netherlands
v Spain
v Sweden
v Italy
v United
Kingdom
Middle
East
v Iran
v Israel
v Kuwait
v Saudi
Arabia
v Syria
v Turkey
v UAE
Africa
v Ghana
v Egypt
v Kenya
v South
Africa
Domestic
India
v Agra
v Ahmedabad
v Bahadurgarh
v Kolkatta
v Chandigarh
v Delhi
v Faridabad
v Ghaziabad
v Hyderabad
v Jaipur
v Jallandhar
v Jodhpur
v Kanpur
v
Mumbai
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.44.09 |
|
UK
Pound |
1 |
Rs.86.59 |
|
Euro |
1 |
Rs.57.92 |
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 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
59 |
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 |
|