MIRA
INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL GREEN COMPANY LIMITED |
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Formerly Known As : |
REITZEL INDIA LIMITED |
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Registered Office : |
Thapar House, 124,
Janpath, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.02.1992 |
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Com. Reg. No.: |
55-47666 |
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CIN No.: [Company
Identification No.] |
U02001DL1992PLC047666 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDG01662D |
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PAN No.: [Permanent
Account No.] |
AAACR0635H |
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Legal Form : |
Closely Held Public Limited Liability Company. |
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Line of Business : |
Planting, growing, cultivating, harvesting and processing of all kinds of fresh vegetables and fruits and to sell and deal in all kinds of foods, vegetables and fruits. |
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 1700000 |
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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 company having satisfactory track.
Directors 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 Office : |
Thapar House, 124,
Janpath, |
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Tel. No.: |
91-11-23368332 / 23368811 |
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Fax No.: |
91-11-23368729 |
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E-Mail : |
misac@globalgreencompany.com, kmanjunath@globalgreencompany.com, sbudhiraja@bilt.com |
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Website : |
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Head Office/ Factory : |
220, Alembic Glass Complex, Whitefield Campuss, |
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Tel. No.: |
91-80-28453792/28453793/28453019/28451957 |
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Fax No.: |
91-80-28453063 |
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E-Mail : |
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Area : |
1,25,000 sq.ft. (Owned) |
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Location : |
Industrial Area |
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Administrative Office : |
364, 16th Main, IV T Block, Jayanagar, |
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Tel. No.: |
91-80-26632831/26634059 |
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Fax No.: |
91-80-26637372 |
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Factory 1 : |
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Factory 2 : |
No.14, |
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Tel. No.: |
91-80-5536035/38 |
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Fax No.: |
91-80-5536061 |
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E-Mail : |
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Branches : |
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Tel. No.: |
3177-3512674 |
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Fax No.: |
3177-3549715 |
DIRECTORS
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Name : |
Mr. Gautam Thapar |
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Designation : |
Director |
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Address : |
E – 16, Pushpanjali Farm, |
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Date of Birth/Age : |
07.12.1960 |
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Date of Appointment : |
15.04.1994 |
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Name : |
Mr. Surendra Kumar Khandelwal |
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Designation : |
Director |
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Address : |
238, Kailash Hills, East of Kailash, New Delhi-110065 |
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Date of Birth/Age : |
20.02.1946 |
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Date of Appointment : |
15.04.1994 |
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Name : |
Mr. Bhuthalingam Hariharan |
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Designation : |
Director |
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Address : |
D-2/3, Vasant Vihar, New Delhi-110057 |
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Date of Birth/Age : |
18.04.1957 |
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Date of Appointment : |
25.05.1999 |
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Name : |
Mr. Adiyattil K Kelappan |
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Designation : |
Director |
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Address : |
GF – 1, 35, PNT Colony, Near Secunderabad Club, Secunderabad, Andhra
Pradesh |
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Date of Birth/Age : |
05.05.1940 |
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Date of Appointment : |
17.01.2002 |
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Name : |
Mr. Vineet Chhabra |
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Designation : |
Managing Director |
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Address : |
S 516, Greater Kailash 1, |
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Date of Birth/Age : |
20.08.1965 |
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Date of Appointment : |
01.07.2002 |
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Name : |
Mr. Karamjit Singh Bedi |
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Designation : |
Director |
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Address : |
N-118, Flat No.5, |
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Date of Birth/Age : |
15.01.1937 |
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Date of Appointment : |
07.01.2004 |
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Name : |
Mr. N Santosh Reddy |
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Designation : |
Director |
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Address : |
8/2/287/11, 1 Road No.14, Banjara Hills, Hyderabad-500034, Andhra
Pradesh |
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Date of Birth/Age : |
22.10.1938 |
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Date of Appointment : |
25.03.2004 |
KEY EXECUTIVES
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Name : |
Mr. Sandeep Budhiraja |
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Designation : |
Secretary |
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Address : |
6371, Sector B-9, Vasant Kunj, New Delhi-110070 |
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Date of Birth/Age : |
13.09.1970 |
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Date of Appointment : |
13.05.2003 |
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Name : |
Mr. Manjunath K |
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Designation : |
Company Secretary |
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Address : |
No.433, 2nd |
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Date of Birth/Age : |
26.04.1965 |
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Date of Appointment : |
08.12.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Modern Agencies Limited |
1155000 |
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Nilkash Investments and Holdings Limited |
450270 |
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Newquest Corporation Limited |
22414741 |
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Mr. S Krishnan |
10 |
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Mr. Ramesh Kumar Chopra |
10 |
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Mr. A S Banthia |
10 |
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Mr. Surendra Kumar Khandelwal |
20 |
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Ms. Neerja Sharma |
10 |
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Newquest Corporation Limited |
160610 |
All the shares are held by Bodies corporate.
BUSINESS DETAILS
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Line of Business : |
Planting, growing, cultivating, harvesting and processing of all kinds of fresh vegetables and fruits and to sell and deal in all kinds of foods, vegetables and fruits. |
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Products : |
ITC Code : 07114000 Product Description : Preserved Cucumber and Gherkins under processed
fruits and vegetables Generic Names of Principal Products/Services of the Company are :- v
Gherkin Pickled in Vinegar/Brine v
Jams v
Spirulina Food and Food Grade |
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Brand Names : |
" REITZEL" |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
L/C or Credit (60 days) terms |
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Purchasing : |
L/C, D/A, D/P or Credit (90 days) terms |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Gherkins |
MT |
12000 |
12000 |
17116 |
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Jam |
No. of bottles |
-- |
-- |
-- |
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Dethydrated Herbs |
MT |
1000 |
-- |
-- |
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Dethydrated Vegetables |
MT |
3000 |
3000 |
-- |
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Herbal Extractions |
MT |
200 |
-- |
-- |
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Space Oleosesins |
MT |
200 |
100 |
-- |
GENERAL INFORMATION
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Suppliers : |
v
Paper Pack Industries Private Limited v
Siva Sai Enterprises v
Dubin Marketing Services v
Lakhotia Belting Private Limited v
Pai and Pai Enterprises v
Sridarshan Packaging Industries v
Pack and Fab Industries v
Karl Khune, v
Pelam Fods Limited, v
Plm Glass, v
Ovens Bilt, v
Larsen & Toubro Limited, Mumbai, v
White Caps, v
Reitzel Swiss SA, v
Popuon & Reitzel Ind.Holding SA, v
Karnataka Fruiticulture Corporation of India
Limited, |
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Customers : |
The company’s major customers include wholesalers, importers and
departmental stores. Some of its’ major customers are :- Appel |
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No. of Employees : |
300 |
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Bankers : |
Canara Bank Agriculture Finance Branch, ICICI Bank Limited, ICICI Bank Limited Regional office :
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Facilities : |
Secured Loans
(As on 31.03.2005) : (Rs.
In millions)
Unsecured
Loans :
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Banking
Relations : |
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Auditors : |
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Name : |
Lovelock & Lewes, Chartered Accountants Address : 6-3-550, 2nd Floor, LB Bhavan,
Somajiguda, Hyderabad-500082, Andhra Pradesh Gittelman and Company, P.C. Chartered Accountants 300, E-Mail : info@gittco.com |
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Holding Company : |
Newquest Corporation Limited |
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Associates/Subsidiaries : |
Affiliates v
Ballarpur Industries Limited, v
Crompton Greaves Limited, v
Ownes Bilt Limited, Subsidiaries v
Tify International B. V., v
Saptarishi Agro Industries Limited, v Global Green USA Limited v
Fellow Subsidiary : v Best Bilt Bio Limited (Merged with holding company during the year) |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 millions |
|
500000 |
Preference Shares |
Rs.100/- each |
Rs.50.000 millions |
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Total |
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Rs.350.000
millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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26720071 |
Equity Shares |
Rs.10/- each |
Rs.267.201
millions |
|
490610 |
Preference Shares |
Rs.100/-
each |
Rs.49.061
millions |
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Total |
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Rs.316.262 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
316.262 |
256.262 |
256.262 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
132.526 |
19.171 |
15.713 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
448.788 |
275.433 |
271.975 |
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LOAN FUNDS |
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1] Secured Loans |
288.227 |
177.456 |
53.507 |
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2] Unsecured Loans |
9.046 |
176.555 |
160.740 |
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TOTAL BORROWING |
297.273 |
354.011 |
214.247 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
746.061 |
629.444 |
486.222 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
386.296 |
377.415 |
297.049 |
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Capital work-in-progress |
7.359 |
0.650 |
6.490 |
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INVESTMENT |
0.000 |
0.006 |
2.343 |
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DEFERREX TAX ASSETS |
53.643 |
80.798 |
86.144 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
361.500
|
181.429 |
147.449 |
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Sundry Debtors |
100.825
|
89.989 |
47.362 |
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Cash & Bank Balances |
26.908
|
11.425 |
7.290 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
78.391
|
60.060 |
65.538 |
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Total
Current Assets |
567.624
|
342.903 |
267.639 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
262.517
|
168.539 |
169.905 |
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Provisions |
6.344
|
3.789 |
3.538 |
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Total
Current Liabilities |
268.861
|
172.328 |
173.443 |
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Net Current Assets |
298.763
|
170.575 |
94.196 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
746.061 |
629.444 |
486.222 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
1063.285 |
798.727 |
549.256 |
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Other Income |
50.775 |
34.459 |
52.090 |
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Total Income |
1114.060 |
833.186 |
601.346 |
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Profit/(Loss) Before Tax |
35.441 |
9.558 |
2.544 |
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Provision for Taxation |
0.000 |
6.095 |
0.254 |
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Profit/(Loss) After Tax |
35.441 |
3.463 |
2.290 |
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Total Earnings |
NA |
703.628 |
501.877 |
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Imports : |
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Raw Materials |
NA |
14.665 |
10.880 |
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Stores & Spares |
NA |
0.868 |
0.568 |
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Packing Material |
NA |
22.481 |
18.682 |
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Others |
NA |
2.204 |
3.526 |
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Total Imports |
NA |
40.219 |
33.657 |
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Expenditures : |
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Selling and Distribution Expenses |
NA |
129.363 |
65.044 |
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Manufacturing Expenses |
NA |
511.964 |
379.506 |
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Administrative Expenses |
NA |
43.031 |
32.878 |
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Raw Material Consumed |
693.786 |
NA |
NA |
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Purchases made for re-sale |
NA |
0.000 |
1.733 |
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Consumption of stores and spares parts |
11.783 |
NA |
NA |
|
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Increase/(Decrease) in Finished Goods |
(119.742) |
NA |
NA |
|
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Salaries, Wages, Bonus, etc. |
99.278 |
81.137 |
70.672 |
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Managerial Remuneration |
6.748 |
NA |
NA |
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Payment to Auditors |
1.435 |
NA |
NA |
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Interest |
35.156 |
25.423 |
18.319 |
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Insurance Expenses |
0.859 |
NA |
NA |
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Power & Fuel |
41.586 |
NA |
NA |
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Depreciation & Amortization |
32.330 |
15.161 |
16.561 |
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Other Expenditure |
275.400 |
17.547 |
14.087 |
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Total Expenditure |
1078.619 |
823.627 |
598.802 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
3.18
|
0.41 |
0.38 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.18
|
1.15 |
0.42 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.71
|
1.33 |
0.45 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.03 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.26
|
1.91 |
1.42 |
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Current Ratio (Current Asset/Current Liability) |
|
2.11
|
1.99 |
1.54 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Subject was incorporated on 18th February 1992 at
The name of the company was changed to the present w.e.f. 23rd
December, 1997.
Subject was incorporated as a Joint Venture between Ballarpur Industries
Limited of Thapar Group,
BUSINESS
Subject is engaged in manufacturing, dealing and processing of Machinery
Equipments, Food Products (Pickles, Chutneys, Murabbas, etc) and Organisers of
Global Tours, etc.
Subject is also engaged in processing and exporting of wide range of
Fresh, Preserved Goods, Gherkin Pickled in Vinegar/Brine and Jam, conforming to international quality
standards, by working closely with over 6000 farmers providing sophisticated
Technology, Education and Guidance on latest Agri-Technologies, list of
products (proposed) include baby corn, cherry, tomatoes, cucumber, gherkins,
bell papers, papaya, yelaki bale (plantation) etc.
Fixed Assets :
v
v Buildings
v Leasehold Improvements
v Furniture
v Plant and machinery
v Assets held for sale
v Vehicles
Contingent Liabilities :
v Bank Guarantees Rs.0.750 millions
v Letter of credit : Rs.45.294 millions
v Bills discounted Rs.114.229 millions
v Bond issued in favour of President of India towards customs duty
obligations Rs.170.000 millions
v Preference dividend in arrear on Redeemable Preference shares Rs.16.578
millions
v Claims not acknowledged as debts Rs.0.097 millions
In accordance with the Scheme of Amalgamation
duly approved by the Honorable High courts of Andhra Pradesh and Delhi, Global
Natural Products Limited was amalgamated with the com 0pany with effect from
01.01.2000 and an amalgamation reserve of Rs.85.296 millions was created in the
said year in the books of account of the company. The company subsequently
filed a petition to the Honorable High Court of Delhi with the intention to
adjust the amount of accumulated debit balance in the Profit and Loss Account
as on 31.03.2002 with the credit balance in securities premium account as on
31.12.2002 and obtained approval in July 2003 confirming reduction of capital
arising out of such adjustments. Although the high court order was specific on
adjustment of securities premium account, the company adjusted the amalgamation
reserve also in the financial year 2002-03, as in the opinion of the
management, there is no restraint from the court on such adjustment and for
which a legal opinion was obtained, confirming the stand taken by the company.
Form 8 Particular for
creation or modification of charges
|
Corporation identity number or foreign company registrations number of
the company |
U02001DL1992PLC047666 |
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Name of the company |
GLOBAL GREEN COMPANY LIMITED |
|
Address |
Thapar House, 124, Janpath, |
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This Form is for |
Creation of charge |
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Type of Charges |
Book debts Movable property |
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Particular of the charge holder
|
ICICI Bank Limited, |
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Nature or description of the instrument creating charge |
Deed of hypothecation |
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Date of the instrument creating charge |
13.01.2007 |
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Amount Secure by the charge |
Rs.400.500 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of interest The aggregate of 3 months USD Libor 110 bps Terms of repayment The facility amount drawn down will be repaid in 16 equal quarterly
installments with first installment beginning from the end of 15 months from
the draw down date Extent and operation of the charge Current assets by hypothecation as and by way of second charge and
shall rank : Subsequent to the charge created/ to be created in favour of Canara Bank – Term loan facility of Rs.25.000 millions – 06.07.2005,
working capital facility – 397.500 millions – 31.07.2006 ICICI Bank – Working capital facility of Rs.195.000 millions –
23.01.2006 and Rs.30.000 millions – 21.03.2006 Exim Bank – Term loan facility of Rs.75.000 millions – 06.04.2004 and
Working capital facility of USD 1.500 millions – 20.03.2006 |
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Particulars of the Property charged
|
As per Schedule II under deed of hypothecation Stock of raw material, assets in process, semi finished assets etc.
And other movables including book debts both present and future Movable properties including movable plant and machinery etd. All amount owing to, and received and/or receivables, book debts etc. |
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Name of the company |
GLOBAL GREEN COMPANY LIMITED |
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Presented By |
Mr. Sandeep Budhiraja, Company Secretary |
|
1) Date and
description of instrument creating the change |
Equipment loan
cum hypothecation agreement dated 21.02.2005 executed by the company
(borrower) in favour of ICICI Bank Limited (Lender) |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.1.601 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 |
43 Nos. Computer
Systems Specifications : IBM 8175 42Q, 256
RaAM< 40 GB, FD Key Board, Mouse, 17” Colour Moniter, XPP 4 Nos. Thmk Pads Specifications : IBM 2888 NQ2.
256RaAM< 40 GB, Combo, 15” Colour XPP. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The property described in clause 3 above has been hypothecated as and
by way of first and exclusive charge in favour of ICICI bank Limited as security
for due payment and discharge by the borrower of all the sums which are or at
any time may become payable by the borrower to ICICI under the aforesaid
facility. During the subsistence of the security the borrower shall not without
the prior written permission of the bank, create any charge, lien pledge,
mortgage, encumbrance etc. in any manner whatsoever in favour of any person
firm or company etc, on the assets provided as security in terms of the
abovementioned document. The borrower agrees, undertakes and covenants machinery/ equipments
belong to borrower and shall be free from any charge an encumbrances save and
except in favour of ICICI Bank The borrower shall permit ICICI Bank and its representative at all
reasonable times to inspect and examine the machinery/ equipment and
documents relating thereto. The company shall keep the machinery/ equipment in sound working
condition at tall time sand shall not dispose or let out the property to any
third person n any manner. The borrower shall indemnify absolutely and unconditionally and at all
times keep indemnified saved, defended and harmless ICICI Bank Limited
against all claims, demands, rights, action, proceedings of whatsoever kind
mace. Taken by any person or party and against all losses, damages, costs
etc. relating to the machinery/ equipment The company shall keep the machinery/ equipment duly insured at all
times against risks and shall obtain necessary licenses, approvals and
sanctions the machinery/ equipment. Details of terms and conditions are provided in equipment loan cum
hypothecation agreement dated 21.02.2005. |
|
5) Name and
Address and description of the person entitled to the charge. |
ICICI Bank Limited Regional office : |
|
6) Date and brief description of instrument
modifying the charge |
N.A. |
|
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. |
N.A. |
Website Details :
Subject, the
pioneer and leader of the pickled gherkin industry in
Breaking new ground
Subject
is part of the US$2 billion Thapar Group, one of
As part
of its philosophy of developing emerging businesses with national and social
relavance, the Thapar Group is focusing its efforts on the last but most
significant area for corporate intervention in the Indian economy -
Agriculture. With its track record of performance and commitment, the Thapar
Group is developing new initiatives to bring Indian agriculture up to global
standards. The Global Green Company has been established as part of this
endeavour.
The company
processes and markets a range of preserved foods, conforming to international
quality standards. Their aim is to take the Indian farmer's produce to the
world market, thereby bridging the gap between small and marginal farmers in
Through
its holistic vision and by the integration of effort from all connected
industries, the group aims to uplift the capabilities of the horticultural
sector to world class standards, enriching the lives of thousands in rural
Expanding horizons
In the
short time since its inception, subject has maintained a path of rapid growth.
Sustaining this growth is a two-fold commitment - the commitment of quality
products to customers, and the commitment to improving the quality of life of
the Indian farmer. Even as they respond to new market opportunities and
consumer needs, this overriding commitment will be their guiding force.
Capabilities
Over the last 10 years,
they have developed expertise in seed-to-shelf operations that allow them to
control the product through the value chain - from elaborate seed evaluation
and growing programs, to customized product development, processing as well as
warehousing and delivery solutions.
In the process,
they have:
v
Become
v
Developed
a diversified production and crop sourcing base, spread over 3 large south
Indian states involving a base of 10,000 loyal farmers.
v
Positioned
themselves to best leverage the
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.34 |
|
|
1 |
Rs.83.08 |
|
Euro |
1 |
Rs.55.80 |
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 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
57 |
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 |
|