MIRA
INFORM REPORT
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Report Date : |
19.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
STP LIMITED |
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Formerly Known As : |
SHALIMAR TAR PRODUCTS (1935) LIMITED |
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Registered Office : |
3rd Floor, Farm Bhawan, 14-15, Nehru Place, New Delhi
110 019 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.11.1935 |
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Com. Reg. No.: |
21-8423 |
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CIN No.: [Company
Identification No.] |
U23109WB1935PLC008423 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALS00703D |
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Legal Form : |
A public limited liability company. The company’s shares are listed on the
Stock Exchanges. |
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Line of Business : |
Manufacturing of water proofing membranes of chemicals,
admixtures industrial flooring grouts pipe protection services, walants &
anti corrosive products & thermoplastic rod making compound; application
of the company’s own water proofing systems, thermoplastic road marking
compound, civil construction. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track.
Company’s profitability is under severe pressure. It has some accumulated losses.
Payments are reported as slow but correct. The Company can be considered normal for small business dealings at
usual trade terms and conditions, with slight caution initially. |
LOCATIONS
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Registered Office : |
6 Lyons Range, Kolkata –
700001, West Bengal, India |
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Tel. No.: |
91-33-23280022 |
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E-Mail : |
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Website : |
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Corporate Office : |
3rd Floor, Farm Bhawan, 14-15, Nehru Place, New Delhi
110 019, India |
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Tel. No.: |
91-11-46561359 |
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Fax No.: |
91-11-46561358 |
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E-Mail : |
Sales Enquiries
: sales@stpLimitedcom Company related information
: waterproofing@stpLimitedcom Any other information : contactus@stpLimitedcom |
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Factory : |
Located at :
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Branches : |
Ø Lucknow
– Uttar Pradesh -
Tel. No.
91-522-382623 Ø Bangalore
– Karnataka - Tel. No. 91-80-222
0101 Ø Baroda
– Gujarat - Tel. No. 91-265-380446 - E-mail stp.baroda@gnahd.globalnet.vsnl.net.in Ø Chandigarh - Tel. No. 91-172-543597 Ø Cochin,
Kerala - Tel. No. 91-484-344724 Ø Secunderabad,
Andhra Pradesh - Tel. No. 91-40-845448 |
DIRECTORS
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Name : |
Mr. G. C. Datta Roy |
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Designation : |
Director |
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Address : |
1/203 Malibu Town, Sohna Alwar Road, Gurgaon, Haryana, India |
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Date of Birth/Age : |
25.02.1945 |
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Date of Appointment : |
18.05.2002 |
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PAN No. : |
AAAPD2583M |
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Name : |
Mr. Amit Sudge |
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Designation : |
Director |
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Address : |
20 B, H Block Abul, Fazal Enclave Jamia, New Delhi – 110025 |
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Date of Birth/Age : |
14.10.1958 |
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Date of Appointment : |
29.09.2004 |
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PAN No. : |
AACPJ3138Q |
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Name : |
Mr. Srikumar Bhaskaran |
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Designation : |
Managing Director |
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Address : |
13/1, Ballygunge, Circular Road, Kolkata – 700019, West Bengal, India |
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Date of Birth/Age : |
13.04.1960 |
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Date of Appointment : |
17.03.2003 |
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Date of Ceasing : |
30.09.2005 |
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PAN No. : |
ADZPS1719C |
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Name : |
Mr. Salim Mohammad |
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Designation : |
Director |
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Address : |
174 Balco Apartment, Plot No 58, Patparganj, Delhi – 110092, India |
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Date of Birth/Age : |
15.11.1967 |
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Date of Appointment : |
23.02.2001 |
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Date of Ceasing : |
29.09.2004 |
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PAN No. : |
AAECS6339M |
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Name : |
Mr. Krishna Kumar Biyani |
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Designation : |
Director |
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Address : |
308 Kailash Tower, East of Kailash, New Delhi – 110017, India |
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Date of Birth/Age : |
01.07.1950 |
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Date of Appointment : |
27.09.2005 |
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PAN No. : |
AFVPB1894D |
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Name : |
Mr. Atul Mittal |
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Designation : |
Director |
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Address : |
No 65 Panchsheel Park, New Delhi – 110017, India |
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Date of Appointment : |
29.09.2004 |
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Date of Ceasing : |
27.04.2005 |
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PAN No. : |
AAECS6339M |
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Name : |
Mr. Krishan Prasad Shrivastav |
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Designation : |
Director |
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Address : |
A 1/43 Safdarsung Enclave, New Delhi – 110029, India |
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Date of Birth/Age : |
02.09.1955 |
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Date of Appointment : |
19.06.2003 |
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PAN No. : |
ANYPS5602F |
KEY EXECUTIVES
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Name : |
Ms. Neha Kejriwal |
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Designation : |
Company Secretary |
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Address : |
87/88, Jadu Colony, Behala, Kolkata – 700034, West Bengal, India |
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Date of Birth/Age : |
01.01.1979 |
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Date of Appointment : |
29.08.2006 |
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Name : |
Mr. Jai Prakash Kureja |
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Designation : |
Company Secretary |
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Address : |
D-504, Hig Flats, Jhuelal Apartments, Road No. 44, Pitampura, Delhi –
110034, India |
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Date of Birth/Age : |
09.04.1961 |
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Date of Appointment : |
18.12.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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Percentage of
Holding |
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Public Financial Companies |
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1.19 % |
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Nationalised or other banks |
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0.01 % |
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Foreign Holdings |
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1.04 % |
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Bodies Corporate |
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95.11 % |
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Other top fifty shareholders |
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2.65 % |
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Total |
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100.00 % |
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Names of Shareholders |
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No. of Shares |
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M. A. Hughes |
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1 |
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C. E. L. Milne Robertson |
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1 |
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Total |
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2 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of water proofing membranes of chemicals,
admixtures industrial flooring grouts pipe protection services, walants &
anti corrosive products & thermoplastic rod making compound; application
of the company’s own water proofing systems, thermoplastic road marking
compound, civil construction. |
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Products : |
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Brand Names : |
“TARFELT”, “TERAROOF” and “THERMOLAY” |
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Exports : |
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Products : |
Coal tar based pipe protection products |
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Countries : |
Middle East and South East Asia |
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Imports : |
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Products : |
Polymer modified water proofing membranes, thermoplastic
road making compound |
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Countries : |
Italy, Malaysia and Saudi Arabia |
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Terms : |
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Selling : |
Contract and Credit terms |
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Purchasing : |
Contract, L/C and Credit |
GENERAL
INFORMATION
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Customers : |
Maruti Larsen &
Toubro Oil And
Natural Gas Corporation National
Productivity Council MES Indian
Railways Builders And
Developers Ranbaxy Airport
Authority Of India EPOXY FLOORING Bajaj Motors Ciba
Speciality Chemicals D-Link India
Limited Dr Reddy’s
Lab Escorts
Limited Glenmark
Pharmaceuticals Limited Jognson
& Mathey India Limited L&T
Mauritius Microsoft MRF Limited Nuclear Fuel
Complex OMAX Auto
Limited Reliance
Industries Simples
Concrete Piles Toyota
Lakozy Auto TVS Suzuki
Limited Unichem
Laboratories Glen Marc Hyundai TAFE Addison BITUMINOUS PRODUCTS Delhi Metro MES Indian
Railways Indian Air
Force Airports
Authority Of India National
Highways Authority Of India EXIDE Batteries COAL TAR PRODUCTS PSL Indian Oil ONGC BALCO Hindalco Welspun Saw Pipes Bedro Shaw
International NPCC Iran Petrojet
Egypt Man
Industries |
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No. of Employees : |
350 |
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Bankers : |
ICICI Bank Limited AJC Bose Road State Bank of Hyderabad Scope Complex, Lodhi Road, New Delhi – 110003, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Lodha & Company Chartered Accountants |
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Address : |
12, Bhagat Singh Marg, New Delhi – 110001, India |
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Memberships : |
Confederation of Indian Industry |
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Collaborators : |
Euclid Chemicals International, USA |
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Holding Company : |
Turner Morrison Limited U51109WB1913PLC002404 |
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Associates/Subsidiaries : |
SHALIMAR
SINGAPORE PTE LIMITED
Singapore provides a comprehensive range of
world class carbon products and chemicals. It’s product range includes
precision grades of high-quality Coal Tar Pitches, anthracene oils, creosote
oils, naphthalene, phenol etc. catering to a cross-section of industries like
Aluminium, Graphite, Carbon Black, steel, metallurgical amongst others. SHALIMAR TANGSHAN CHEMICAL COMPANY LIMITED
SHALIMAR SINGAPORE PTE. LIMITED has established a wholly owned
subsidiary Shalimar Tangshan Chemical
Corporation Limited a
state-of-the-art manufacturing facility at the Tangshan Seaport Zone,
Tangshan, China. The plant is capable of handling bulk quantities of both
solid / liquid pitches and other distillates. Its seaport location offers a
tremendous logistical advantage. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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13500000 |
Equity Shares |
Rs. 10/- each |
Rs. 135.000 Millions |
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Issued Capital :
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No. of Shares |
Type |
Value |
Amount |
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13400010 |
Equity Shares |
Rs. 10/- each |
Rs. 134.000
Millions |
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Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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13392656 |
Equity Shares |
Rs. 10/- each |
Rs. 133.927
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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133.927 |
129.927 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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90.853 |
77.343 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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224.780 |
207.270 |
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LOAN FUNDS |
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1] Secured Loans |
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52.278 |
53.644 |
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2] Unsecured Loans |
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62.569 |
91.009 |
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TOTAL BORROWING |
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114.847 |
144.653 |
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DEFERRED TAX LIABILITIES |
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2.144 |
2.420 |
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TOTAL |
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341.771 |
354.343 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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108.387 |
115.380 |
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Capital work-in-progress |
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0.000 |
0.845 |
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INVESTMENT |
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17.098 |
43.150 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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128.943 |
131.340 |
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Sundry Debtors |
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82.839 |
80.404 |
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Cash & Bank Balances |
|
13.575 |
16.426 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
78.876 |
111.580 |
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Total
Current Assets |
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304.233 |
339.750 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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114.450 |
140.079 |
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Provisions |
|
6.792 |
7.129 |
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Total
Current Liabilities |
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121.242 |
147.208 |
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Net Current Assets |
|
182.991 |
192.542 |
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MISCELLANEOUS EXPENSES |
|
33.295 |
2.426 |
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TOTAL |
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341.771 |
354.343 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
|
475.643 |
547.591 |
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Other Income |
|
14.414 |
36.962 |
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Total Income |
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490.057 |
584.553 |
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Profit/(Loss) Before Tax |
|
[24.548] |
14.797 |
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Provision for Taxation |
|
6.321 |
3.011 |
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Profit/(Loss) After Tax |
|
[30.869] |
11.786 |
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Expenditures : |
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Raw Material Consumed |
|
352.338 |
398.133 |
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Salaries, Wages, Bonus, etc. |
|
30.525 |
31.029 |
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Managerial Remuneration |
|
4.613 |
2.312 |
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Payment to Auditors |
|
0.246 |
0.241 |
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Interest |
|
24.314 |
21.910 |
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Insurance Expenses |
|
0.777 |
0.904 |
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Power & Fuel |
|
6.061 |
6.224 |
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Depreciation & Amortization |
|
7.373 |
7.677 |
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Other Expenditure |
|
88.358 |
101.326 |
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Total Expenditure |
|
514.605 |
569.756 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
|
6.30 |
2.02 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
5.16 |
2.70 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
5.95 |
3.25 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.11 |
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
1.05 |
1.42 |
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Current Ratio (Current Asset/Current Liability) |
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1.68 |
2.31 |
LOCAL AGENCY FURTHER
INFORMATION
HISTORY
The company was incorporated on 6TH November 1935
under name as Shalimar Tar Products (1935) Limited and changed to Present
name. It’s Company Registration No.
8423.
The company’s fixed assets of important value include land,
building, plant & machinery, furniture & office equipments, laboratory
and motor car.
Bankers Charges
Report as per Registry
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Name of the company |
STP LIMITED |
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Presented By |
Mr. B. Stikumar,
Managing Director |
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1) Date and description of instrument creating the change |
Agreement dated
26.10.1989 as modified by 1st supplemental agreement dated
04.07.1992 made between the company of the first part and ANZ Grindlays Bank
of the second part and by 2nd supplemental agreement dated
02.03.19983 between the company and the consortium bankers comprising ANZ
Grindlays Bank, Allahabad Bank, State Bank of Hyderabad and Standard
Chartered Bank of the 2nd Part modified by 3rd
supplemental agreement dated 14.03.1997 between the company of the first part
and consortium bankers comprising State Bank of Hyderabad, Allahabad Bank
and ANZ Grindlays Bank |
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2) Amount secured by the charge/amount owing on the securities of charge |
the original
limit was Rs. 79.883 Millions which was increased to Rs. 97.000 Millions by 1st
supplemental agreement dated 04.07.1992 and Rs. 131.300 Millions by 2nd
supplemental agreement dated 04.07.1992 and Rs. 131.300 Millions by 2nd
supplemental agreement dated 02.03.1993 further modified vide agreement dated
14.03.1997 to increase the limit to Rs. 230.000 Millions in favour of
consortium bankers comprising of State Bank of Hyderabad, ANZ Grindlays Bank
and Allahabad Bank which is now being reduced to Rs. 160.300 Millions in
favour of State Bank of Hyderabad and Allahabad Bank. |
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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 |
As per
modification of charge vide agreement dated 14.03.1997 already filed on
20.03.1997 and registered on 18.06.1997 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As per
modification of charge vide agreement dated 14.03.1997 already filed on
20.03.1997 and registered on 18.06.1997 |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of Hyderabad Scope Complex, Lodhi Road, New Delhi – 110003, India Allahabad Bank,
16, Strand Road, Kolkata ANZ Grindlays
Bank, PLC, H Block, Connaught Place, New Delhi – 110001 All the above
said bankers shall collectively be referred to as “SBH Consortium” |
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6) Date and brief description of instrument modifying the charge |
Memorandum of
Understanding dated 24.05.2004 between STP Limited and Standard Chartered
Bank. The total value
of charge favour of the remaining bank i.e. State Bank of Hyderabad an Allahabad
Bank is Rs. 160.300 Millions |
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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. |
The company has
repaid the total outstanding amount due to Standard Chartered Bank The bank has
released first charge on raw material, work in progress, finished goods etc.
and its second charge on fixed assets of the company. Total value of
borrowing and security has been reduced from Rs. 230.000 Millions to Rs.
160.300 Millions The consortium of
bankers now comprises State Bank of
Hyderabad and Allahabad Bank with their share in the working capital
facilities remaining the same and they will continue to have the charges
accordingly. |
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Corporate
identity number of the company |
U23109WB1935PLC008423 |
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Name of the
company |
STP LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
8 CAMAC Street,
Kolkata – 700001, West Bengal, India |
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This form is for |
Creation of
Charge |
|
Type of charge |
Hypothecation
|
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Particular of
charge holder |
State Bank of Hyderabad Scope Complex, Lodhi Road, New Delhi – 110003, India |
|
Nature of
instrument creating charge |
Hypothecation
agreement for goods and assets |
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Date of
instrument Creating the charge |
28.07.2006 |
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Amount secured by
the charge |
Rs. 77.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
The above is to
secure the following credit facilities Rate of interest
@ 2.25 % + PLR presently 13.75 % |
|
Description of
the property charged indicating whether it is a charged on |
Stock in trade Plant and
Machinery Furniture and
Fixture Stock in trade Book Debts |
|
Particulars of
the property charged |
First charge by
hypothecation of stocks and book debts, movable assets and fixed assets both
present and future |
News
STP has developed special competencies in : Corrosion
Protection Products, Waterproofing Products and Epoxy Floorings.
It has an extremely wide range of Bitumen based, Coal Tar based and Chemical based
products for Corrosion Protection of pipelines and structures.
Company’s leadership in Coal Tar Enamel has earned it a global presence with
its Coal Tar Enamel and Outerwrap being exported to many countries.
The company has always remained abreast of the latest innovations by acquiring
technology from external sources and through in-house innovations.
The company has earned wide acclaim for its high performance Epoxy Floorings
and Chemical Waterproofing products.
STP Limited, formerly Shalimar Tar Products Limited, is a
member of the Turner Morrison Group.
Though, widely acknowledged as the “First Family of the Waterproofing World”,
STP is a diversified player in the infrastructure space. It has four business
verticals:
Bitumen Based Waterproofing and other products
Road Marking paints and allied products
The company has divided in three divisions i.e. Pipe
Protection Services Division, Construction Services Division and Construction
Additives Division.
The company has collaboration with Euclid Chemicals
International, USA. The company has
also joined hands with some of the most respected names in the industry like
the Bitumat of Saudi Arabia, Isoltema of Italy, Euclid of USA & DPI of Malaysia.
Factories:
Goa:
STP’s Specialty Chemical Division operates from a ISO 9001 factory at Goa and
manufactures a staggering array of products including Admixtures, Grouts,
Waterproofing compounds, Epoxy Floorings and Coatings, Floor Hardeners, Tile
Adhesives, Sealants and repair compound.
The company has earned wide acclaim for its high performance Epoxy Floorings
and Chemical Waterproofing products.
Jamshedpur:
STP’s factory at Jamshedpur in Jharkhand has ISO 9001 and ISO 14001
certification and manufactures Coal Tar Enamel, Coal Tar Pitch, Outerwrap, Coal
Tar Tape and Synthetic Primer of various types.
Chennai:
STP’s factory at Ambattur Industrial Area in Chennai manufactures
various grades of blown grade Bitumen, Waterproofing membranes and Bitumen
based products such as CPRX compounds, Tar Plastic, Tankmastic etc.
The company has developed special competencies in: Corrosion Protection,
Waterproofing and Epoxy Floorings.
STP’s customers range from individual house owners to large private and public
sector organizations like Railways, MES, ONGC, IOC, Reliance, L & T,
Hyundai and many Central and State Government departments.
Company’s leadership in Coal Tar Enamel has earned it a global presence with
its Coal Tar Enamel and Outerwrap being exported to many countries.
The company has always remained abreast of the latest innovations by acquiring
technology from external sources and through in-house innovations.
Products
Though, widely acknowledged as the “First Family of the
Waterproofing World”, STP is a diversified player in the infrastructure space.
It has four business verticals:
- Construction Chemicals
- Bitumen Based Products
- Coal Tar Based Products
- Road Marking Paints and Allied Products
STP products are used everywhere. They are used in
residential and commercial complexes, in thermal power plants and factories,
oil and gas pipelines, bridges and flyovers, airport runways and tunnel, in
dams, highways and border roads.
The company has developed special competencies in: Corrosion Protection,
Waterproofing and Epoxy Floorings.
STP’s customers range from individual house owners to large private and public
sector organizations like Railways, MES, ONGC, IOC, Reliance, L & T,
Hyundai and many Central and State Government departments.
Company’s leadership in Coal Tar Enamel has earned it a global presence with
its Coal Tar Enamel and Outerwrap being exported to many countries.
The
STP Expertise
STP has developed special competencies in : Corrosion
Protection Products, Waterproofing Products and Epoxy Floorings.
It has an extremely wide range
of Bitumen based, Coal Tar based and Chemical based products for Corrosion
Protection of pipelines and structures.
Company’s leadership in Coal Tar Enamel has earned it a global presence with
its Coal Tar Enamel and Outerwrap being exported to many countries.
The company has always remained abreast of the latest innovations by acquiring
technology from external sources and through in-house innovations.
The company has earned wide
acclaim for its high performance Epoxy Floorings and Chemical Waterproofing
products.
Their work speaks for itself.
STP’s customers range from individual house owners to large private and public
sector organizations like ONGC, IOC, Reliance, L & T, Hyundai and many
Central and State Government departments.
Take a look at some of the customers who have utilized their expertise for
achieving their needs.
Shalimar Tangshan Chemical Company Limited and Shalimar
Singapore Pte. Limited are the sister concerns of STP Limited. Shalimar
Singapore Pte. Limited has established a wholly owned subsidiary Shalimar
Tangshan Chemical Corporation Limited.
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.44.28 |
|
UK Pound |
1 |
Rs.86.64 |
|
Euro |
1 |
Rs.58.10 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
36 |
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 |
|
PRIVATE
& CONFIDENTIAL : This information is provided to you at
your request, you having employed MIPL for such purpose. You will use the
information as aid only in determining the propriety of giving credit and
generally as an aid to your business and for no other purpose. You will hold
the information in strict confidence, and shall not reveal it or make it known
to the subject persons, firms or corporations or to any other. MIPL does not
warrant the correctness of the information as you hold it free of any liability
whatsoever. You will be liable to and indemnify MIPL for any loss, damage or
expense, occasioned by your breach or non observance of any one, or more of
these conditions