MIRA INFORM REPORT
|
Report
Date : |
22.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
PHOENIX INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
243,
Udyog Bhawan, Sonawala Road, Goregaon (East), Mumbai - 400 063, Maharashtra,
India |
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Country
: |
India |
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Financials
(as on) : |
31.03.2005 |
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Date
of Incorporation : |
19.05.1993 |
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CIN
No.: |
U45200MH1993PTC072060 |
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Com.
Reg. No.: |
11-72060 |
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TAN
No.: (Tax
Deduction & Collection Account No.) |
MUMP16189F / MUMP17739B |
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PAN
No.: (Permanent
Account No.) |
AAACP3819R |
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Legal
Form : |
Private limited liability company. |
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Line
of Business : |
Manufacturing, trading, importing, exporting and also
acting as agent for all types of ferrous and non-ferrous metals, alloys,
including billets, ingots and castings. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum
Credit Limit : |
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Status
: |
Satisfactory
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
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Comments
: |
Subject is a well established and reputed company having
satisfactory track. Directors are reported as experienced and respectable
businessmen. 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 dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
243,
Udyog Bhawan, Sonawala Road, Goregaon (East), Mumbai - 400 063, Maharashtra,
India |
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Tel.
No.: |
91-22-28755701/28721054 |
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Fax
No.: |
91-22-28755501 |
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E-Mail
: |
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Location : |
Owned |
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Factory
1 : |
Plot No. 15, Survey No. 101, Rakoli Village, Silvassa –
396 230, Union Territory of Dadra and Nagar Haveli |
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Tel.
No.: |
91-260-2640231/2640321 |
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Area : |
1500 sq. mts. |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mr.
Ramanand Shyamsunder Sanghai |
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Designation
: |
Director |
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Address
: |
1301,
Minaxi Towers, K.V. Marg, Goregaon (East), Mumbai 400 063, Maharashtra, India |
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Date
of Birth/Age : |
08.12.1962 |
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Date
of Appointment : |
30.08.1993 |
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Name : |
Mr. Anand
Shyamsunder Sanghai |
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Designation
: |
Director |
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Address
: |
1301,
Minaxi Towers, K.V. Marg, Goregaon (East), Mumbai 400 063, Maharashtra, India |
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Date
of Birth/Age : |
19.05.1970 |
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Date
of Appointment : |
30.08.1993 |
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Name : |
Mr.
Shyamsunder Chunilal Sanghai |
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Designation
: |
Director
and Chairman |
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Address
: |
1301,
Minaxi Towers, K.V. Marg, Goregaon (East), Mumbai 400 063, Maharashtra, India |
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Date
of Birth/Age : |
09.04.1938 |
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Date
of Appointment : |
01.04.1999 |
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MAJOR SHAREHOLDERS
|
Names of Shareholders |
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No. of Shares |
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Mr.
Ramanand Shyamsunder Sanghai Mr.
Shyamsunder Sanghai |
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354150 |
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Mr. Anand
Shyamsunder Sanghai Mr.
Shyamsunder Sanghai |
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374400 |
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Mr.
Shyamsunder Sanghai Mr.
Chunilal Agarwal |
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432700 |
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Mr.
Ramanand Sanghai (HUF) |
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72000 |
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Mr.
Shyamsunder Sanghai (HUF) |
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69750 |
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Mrs.
Anandidevi S. Sanghai Mr.
Shyamsunder Sanghai |
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358600 |
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Mrs.
Sulochana P. Nathani Mr.
Prakash Nathani |
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450 |
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Mrs.
Girija Jain |
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450 |
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Anand
Sanghai (HUF) |
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51750 |
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Mrs. Alka
A. Sanghai Mr. Anand
Sangai |
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145950 |
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Mrs. Sahila R. Sanghai Mr.
Ramanand Sanghai |
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139800 |
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Total |
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2000000 |
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BUSINESS DETAILS
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Line
of Business : |
Manufacturing, trading, importing, exporting and also
acting as agent for all types of ferrous and non-ferrous metals, alloys,
including billets, ingots and castings. |
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Products
: |
·
Non
Ferrous Metal Alloys |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Non-Ferrous
Metal Alloys |
MT |
NA |
6000 |
5424 |
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GENERAL INFORMATION
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Suppliers
: |
·
Hindalco
Industries Limited ·
R.M.
Mehta and Company ·
Hindustan
Zinc limited ·
Indian
Oil Corporation Limited ·
L.G.
Alloys Private Limited ·
National
Aluminium Company Limited ·
National
Aluminium Company Limited-Vaishag ·
Wesman
Thermal Engg. ·
Sainath
Clearing Agency ·
Ambtca
Metal Corporation ·
Kothari
Metal Limited ·
Kothari
Metals Limited (Import) ·
Shree
Arihant Metals ·
Sai
Clearing Agency ·
K.R.
Motor ·
National
Steel Engg. Company ·
Palco
Metals Limited ·
Phoolchand
Bhagatsingh ·
Saru
Alkoh Chemicals Limited ·
Western
Mehta Flux Private Limited |
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Customers
: |
·
Aar
Aar Equipments ·
Inductotherm
India ·
Control
and Switchgears ·
Crompton
Greaves Limited ·
M.S.
Metal Works ·
Raas
Control ·
Shakin
Industries ·
Paras
Motor ·
Steelco
Gujarat Limited ·
Sumeka
Pressure Castings ·
Vanaz
Engineers Private Limited |
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No. of
Employees : |
350 |
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Bankers
: |
Oriental
Bank of Commerce Rajnigandha Shopping Centre, Gokuldham, Film City Road,
Goregaon (East), Mumbai - 400 063, Maharashtra, India |
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Facilities : |
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Banking Relations : |
Satsiacfatory |
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Auditors
: |
J. L.
Bhatt and Company Chartered
Accountants Yusuf
Building, 2nd Floor, 43, M.G. Road, Mumbai – 400 023, Maharashtra |
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Tel.
No.: |
91-22-22043311 / 56314310 |
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Fax
No.: |
91-22-56314309 |
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E-Mail
: |
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Associates/Subsidiaries
: |
Ohm Sales Private Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
1,000,000 |
Equity
Shares |
Rs. 10 each |
Rs. 10.000 millions |
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Issued,
Subscribed & Paid-up Capital :
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No. of
Shares |
Type |
Value |
Amount |
|
1,000,000 |
Equity
Shares |
Rs. 10 each |
Rs. 10.000 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS
FUNDS |
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1] Share
Capital |
10.000 |
10.000 |
10.000 |
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2] Share
Application Money |
0.000 |
0.000 |
0.000 |
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3]
Reserves & Surplus |
64.145 |
59.219 |
57.709 |
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4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
74.145 |
69.219 |
67.709 |
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LOAN
FUNDS |
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1]
Secured Loans |
14.664 |
9.602 |
0.444 |
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2]
Unsecured Loans |
6.385 |
2.164 |
2.176 |
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TOTAL
BORROWING
|
21.049 |
11.766 |
2.620 |
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DEFERRED
TAX LIABILITIES |
2.031 |
1.695 |
1.255 |
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TOTAL
|
97.225 |
82.680 |
71.584 |
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APPLICATION OF FUNDS
|
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FIXED ASSETS [Net Block]
|
18.034 |
18.970 |
18.895 |
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Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
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INVESTMENT
|
0.000 |
0.000 |
0.000 |
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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
|
8.298
|
9.887 |
10.260 |
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Sundry Debtors
|
69.479
|
39.369 |
38.255 |
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Cash & Bank Balances
|
1.594
|
0.930 |
2.109 |
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Other Current Assets
|
0.000
|
0.000 |
0.000 |
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Loans & Advances
|
9.815
|
22.928 |
5.750 |
Total Current Assets
|
89.186
|
73.114 |
56.374 |
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Less : CURRENT LIABILITIES & PROVISIONS
|
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Current Liabilities
|
9.995
|
9.404 |
3.685 |
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Provisions
|
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Total Current Liabilities
|
9.995 |
9.404 |
3.685 |
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Net
Current Assets
|
79.191
|
63.710 |
52.689 |
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MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
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TOTAL
|
97.225 |
82.680 |
71.584 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
483.084 |
353.093 |
346.308 |
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|
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Profit/(Loss) Before Tax
|
10.993 |
8.362 |
7.106 |
Provision for Taxation
|
3.036 |
2.340 |
1.883 |
Profit/(Loss) After Tax
|
7.957 |
6.022 |
5.223 |
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Import Value
|
94.244 |
82.527 |
89.547 |
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|
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Total Expenditure
|
472.091 |
344.730 |
339.202 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
1.65
|
1.71 |
1.51 |
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Net Profit Margin
(PBT/Sales) |
(%) |
2.28
|
2.37 |
2.05 |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
10.25
|
9.08 |
9.44 |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.15
|
0.12 |
0.10 |
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Debt Equity Ratio
(Total
Liability/Networth) |
|
0.42
|
0.31 |
0.09 |
|
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|
Current Ratio
(Current
Asset/Current Liability) |
|
8.92
|
7.77 |
15.30 |
LOCAL AGENCY FURTHER INFORMATION
The
company’s fixed assets of important value include freehold land, factory
building, Flat at Silvassa, office premises, plant and machinery, furniture and
fixtures, vehicles and computers.
Contingent Liability Not Provided for :
In respect of Bills Discounted with Banks : Rs. 1.187
millions
Capital Commitments remaining to be executed amounting to
Rs. Nil
As the company has set up its manufacturing unit at
Silvassa, union Teritory of Dadra and Nagar Haveli, a notified backward area,
the company will be entitled to tax benefit under section 80 I A of the Income
Tax Act, 1961. Provision for Taxation has been made after taking into account
the Tax benefit under the said Section 80 I A
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Name of the company |
PHOENIX INDUSTRIES
LIMITED |
|
Presented By |
ORIENTAL BANK OF COMMERCE GOREGOAN (E) BRANCH, BOMBAY
–400063 |
|
1) Date and description of instrument creating the change |
20th April 1999 Hypothecation of Assets
Agreement for Cash Credit / Overdraft / Demand Loan Facility. |
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2) Amount secured by the charge/amount owing on the
securities of charge |
Rs. 33.183 millions |
|
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 |
To secure the due repayment of the Banking limits
sanctioned to the Borrowers and interest thereon first charge and
Hypothecation of the Plant and Machinery (by way of additional security)
worth Rs. 6.117 millions w.d.v. as on 31.03.99 present and future lying in
the Borrowers premises or elsewhere. |
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4) Gist of the terms and conditions and extent and
operation of the charge. |
Interest at the rate of 3.82 % p.a. over the prime lending
rate of the Bank with a minimum of 15.82 % calculated on daily balance and
charge on quarterly rest or at such rate of Interest as may be determined by
the Bank from time to time as per directives of the RBI Penal interest at
2.04 % p.a. in case of default. |
|
5) Name and Address and description of the person entitled
to the charge. |
Oriental
Bank of Commerce Rajnigandha
Shopping Centre Gokuldham,
Film City Road Goregaon
(East), Mumbai - 400 063, Maharashtra, India |
|
6) Date and brief
description of instrument modifying the charge |
10th September, 1999 Hypothecation of assets Agreement for cash credit /
overdraft/demand loan facility. |
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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. |
At the request of the Borrower the Bank has reduced the
total Banking limits from Rs. 33.183 millions to Rs. 24.541 millions
according to that extent. Against the same security as stated in column no 3 above. Interest at the rate of 3.81 % p.a. over the prime lending
rate of the Bank with a minimum of 15.81 % calculated on daily balance and
charge on quarterly rest of at such rate of Interest as may be determined by
the Bank from time to time as per the directives of the RBI Penal interest at
2.04 % in case of default. |
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|
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|
Name of the company |
PHOENIX INDUSTRIES
LIMITED |
|
Presented By |
ORIENTAL BANK OF COMMERCE GOREGOAN (E) BRANCH, BOMBAY
–400063 |
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1) Date and description of instrument creating the change |
Equitable Mortgage Deed dated 19/11/1995 |
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2) Amount secured by the charge/amount owing on the
securities of charge |
Rs. 10.000 millions |
|
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 |
Equitable Mortgage by deposit of Title deeds of Office premises at Gala no 243 and 244, Udyog Bhawan,
Sonawalla Cross Road, Goregaon (E), Mumbai-400063 Plot No 15, Admeasuring 1500 sq. mts. On part of servey
nos 101, Paiki of village Rakholi Silvassa, Union Territory of Dadra and
Nagar Haveli. |
|
4) Gist of the terms and conditions and extent and
operation of the charge. |
To secure the due repayment of the Bank on demand for all
the money now owing or which shall at any time hereinafter be owing from the
borrower in respect of advances granted by way of Term Loan, Cash Credit and
UBD facilities together with interest(incl penal interest as per directives
of RBI) , cost and other charges
thereon. |
|
5) Name and Address and description of the person entitled
to the charge. |
Oriental
Bank of Commerce Rajnigandha
Shopping Centre Gokuldham,
Film City Road Goregaon
(East), Mumbai - 400 063, Maharashtra, India |
|
6) Date and brief
description of instrument modifying the charge |
10th September, 1999 Letter of continuing security. |
|
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. |
At the request of the Borrower the Bank has reduced the
total Banking limits from Rs. 35.500 millions to Rs. 24.541 millions
according the charge stand modified form Rs. 35.500 millions to Rs. 24.541
millions. Against the same security as stated in column no 3 above. Other terms and conditions remains unchanged. |
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|
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|
Name of the company |
PHOENIX INDUSTRIES
LIMITED |
|
Presented By |
ORIENTAL BANK OF COMMERCE GOREGOAN (E) BRANCH, BOMBAY
–400063 |
|
1) Date and description of instrument creating the change |
Agreement of Hypothecation of Goods dated 24.06.1995 Agreement of Hypothecation of Book debts dated 24.06.1995 (both the above documents constitute single charge of Rs.
5.000 millions) |
|
2) Amount secured by the charge/amount owing on the
securities of charge |
Rs. 5.000 millions which includes Rs. 1.000 millions sub
limit against Hypothecation of Book debts |
|
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 over stock of Raw Material, work in process,
finished goods of Non ferrous Metal Alloys Assignments of Book debts of reputed companies, not older
than 45 days. |
|
4) Gist of the terms and conditions and extent and
operation of the charge. |
Goods : Margin 25 % Rate of interest 17.75 % Book debts Margin 50 % Rate of interest 17.75 % |
|
5) Name and Address and description of the person entitled
to the charge. |
Oriental
Bank of Commerce Rajnigandha
Shopping Centre Gokuldham,
Film City Road Goregaon
(East), Mumbai - 400 063, Maharashtra, India |
|
6) Date and brief
description of instrument modifying the charge |
10th September, 1999 Supplement Agreement Agreement for hypothecation Book Debts |
|
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. |
At the request of the Borrower the Bank has enhanced the
cash credit facility enhanced from Rs. 15.000 millions which includes Rs.
1.000 millions sub limit against Hypothecation of Book debts and accordingly
the charge stand modified from Rs. 13.500 millions to Rs. 15.000 millions. Against the same security as stated in column no 3 above. Interest at the rate of 3.81 % p.a. over the prime lending
rate of the Bank with a minimum of 15.81 % calculated on daily balance and
charge on quarterly rest of at such rate of Interest as may be determined by
the Bank from time to time as per the directives of the RBI Penal interest at
2.04 % in case of default. |
|
|
|
|
Name of the company |
PHOENIX INDUSTRIES
LIMITED |
|
Presented By |
ORIENTAL BANK OF COMMERCE GOREGOAN (E) BRANCH, BOMBAY
–400063 |
|
1) Date and description of instrument creating the change |
Agreement for hypothecation of movable assets to secure a
term loan dated 29/06/1995 |
|
2) Amount secured by the charge/amount owing on the
securities of charge |
Rs. 3.500 millions |
|
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 over Plant and Machinery i.e. rotary
furnace, trolley, 2 turn table chimney, interconnection duct die, blower,
zing furnace, head and overhead crane etc. |
|
4) Gist of the terms and conditions and extent and
operation of the charge. |
An installment of Rs. 0.093 millions may be recorded from
our cash credit account every month including interest to be adjusted in 27
equity monthly installment. Margin – 25 % Rate of interest : 17.75 % |
|
5) Name and Address and description of the person entitled
to the charge. |
Oriental
Bank of Commerce Rajnigandha
Shopping Centre Gokuldham,
Film City Road Goregaon
(East), Mumbai - 400 063, Maharashtra, India |
|
6) Date and brief
description of instrument modifying the charge |
Not Available |
|
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. |
Not Available |
|
|
|
|
Name of the company |
PHOENIX INDUSTRIES
LIMITED |
|
Presented By |
ORIENTAL BANK OF COMMERCE GOREGOAN (E) BRANCH, BOMBAY
–400063 |
|
1) Date and description of instrument creating the change |
Agreement for over draft dated 04.12.1996 Agreement regarding bills purchased/bills discounted and
advanced against bills in course of collection 04.12.1996 |
|
2) Amount secured by the charge/amount owing on the
securities of charge |
Rs. 6.000 millions |
|
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 |
Bills/invoices with maximum usance of 60 days accompanied
by receipted challans/inspections notes drawn on different reputed limited
companies. |
|
4) Gist of the terms and conditions and extent and
operation of the charge. |
Margin – 25 % Rate of interest : 17.75 % |
|
5) Name and Address and description of the person entitled
to the charge. |
Oriental
Bank of Commerce Rajnigandha
Shopping Centre Gokuldham,
Film City Road Goregaon
(East), Mumbai - 400 063, Maharashtra, India |
|
6) Date and brief
description of instrument modifying the charge |
Not Available |
|
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. |
Not Available |
|
|
|
|
Name of the company |
PHOENIX INDUSTRIES
LIMITED |
|
Presented By |
ORIENTAL BANK OF COMMERCE GOREGOAN (E) BRANCH, BOMBAY
–400063 |
|
1) Date and description of instrument creating the change |
Agreement of Hypothecation of Goods dated 24.06.1995 Agreement of Hypothecation of Book debts dated 24.06.1995 (both the above documents constitute single charge of Rs.
5.000 millions) |
|
2) Amount secured by the charge/amount owing on the
securities of charge |
Rs. 5.000 millions which includes Rs. 1.000 millions sub
limit against Hypothecation of Book debts |
|
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 over stock of Raw Material, work in process,
finished goods of Non ferrous Metal Alloys Assignments of Book debts of reputed companies, not older
than 45 days. |
|
4) Gist of the terms and conditions and extent and
operation of the charge. |
Goods : Margin 25 % Rate of interest 17.75 % Book debts Margin 50 % Rate of interest 17.75 % |
|
5) Name and Address and description of the person entitled
to the charge. |
Oriental
Bank of Commerce Rajnigandha
Shopping Centre Gokuldham,
Film City Road Goregaon
(East), Mumbai - 400 063, Maharashtra, India |
|
6) Date and brief
description of instrument modifying the charge |
Supplement Agreement dated 4th February, 1998
for Rs. 13.500 millions |
|
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. |
The original charge dated 24/06/1995 for Rs. 5.000
millions was modified to Rs. 7.500 vide supplement agreement dated 09.12.1995
and future modified to Rs. 10.500 vide supplement agreement dated 4th
December, 1996 which is now further modified by granting an additional sum of
Rs. 3.000 millions thereby enhancing the limit from Rs. 10.500 millions to
Rs. 13.500 millions. Against the same security as stated in column no 3 above. Interest at the rate of 2 % p.a. over the prime lending
rate of the Bank with a minimum of 16.33 % calculated on daily balance and
charge on quarterly rest of at such rate of Interest as may be determined by
the Bank from time to time as per the directives of the RBI. |
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. 44.25 |
|
UK Pound |
1 |
Rs. 86.41 |
|
Euro |
1 |
Rs. 58.10 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |