MIRA
INFORM REPORT
|
Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
BHANSALI CABLES
AND CONDUCTORS PRIVATE LIMITED |
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Registered Office : |
GB-17, Shivaji
Enclave, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
02.11.1987 |
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Com. Reg. No.: |
55-29645 |
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CIN No.: [Company
Identification No.] |
U74899DL1987PTC029645 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB02919A |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturers of
Cables, Wires and Data Cables |
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 : |
USD 75000 |
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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 company having satisfactory track records. Directors are reported
as experienced, respectable and having satisfactory means of their own. Their
trade relations are reported as fair. General financial position is
satisfactory. Payments are usually correct and as per commitments. The
company is doing well. It can be
considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered
Office : |
GB-17, Shivaji
Enclave, |
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|
91-11-25446590 /
25468865 / 51694254 |
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Fax No.: |
91-11-25131184 |
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E-Mail : |
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Website : |
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Marketing
Office : |
A-38/4, Maya Puri
Phase-I, |
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91-11-25144496 /
25131086 / 25132203 / 51694254 |
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Fax No.: |
91-11-28115151 |
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Email : |
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Location : |
Industrial |
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Factory /
Works : |
B-816, RIICO
Industrial Area, Phase II, Bhiwadi, Wlwar, |
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91-1492-223560/224105 |
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E-Mail : |
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Location : |
Industrial |
DIRECTORS
|
Name : |
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Designation : |
Director |
|
Address : |
GB-17, Shivaji
Enclave, |
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Date of
Birth/Age : |
05.07.1946 |
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Date of
Appointment : |
02.11.1987 |
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Name : |
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Designation : |
Director |
|
Address : |
GB-17, Shivaji
Enclave, |
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Date of
Birth/Age : |
12.05.1969 |
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Date of
Appointment : |
02.11.1987 |
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Name : |
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Designation : |
Director |
|
Address : |
GB-17, Shivaji
Enclave, |
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Date of
Appointment : |
25.03.1997 |
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|
|
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Name : |
|
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Designation : |
Director |
|
Address : |
GB-17, Shivaji
Enclave, |
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Date of
Birth/Age : |
08.09.1972 |
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Date of
Appointment : |
31.03.1999 |
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Name : |
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Designation : |
Director |
|
Address : |
GB-17, Shivaji Enclave, |
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Date of
Birth/Age : |
20.06.1977 |
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Date of
Appointment : |
02.11.1987 |
KEY EXECUTIVES
|
Name : |
RMG and
Associates |
|
Designation : |
Company Secretary
|
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Address : |
207, |
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91-11-51450970 |
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Mobile No.: |
91-9212221110/
9868113870 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Balwant Singh
Jain |
|
20,000 |
|
Suraj Jain |
|
15260 |
|
Deepak Jain |
|
8250 |
|
Vikas Jain |
|
5280 |
|
Vishal Jain |
|
11110 |
|
Ritu Jain |
|
50 |
|
B. S. Jain and
Sons, HUF |
|
14000 |
|
Deepak Jain, HUF |
|
6,000 |
|
Vikas Jain &
Sons HUF |
|
1500 |
|
Kanta Kochhar |
|
1 |
|
Sukhraj Kumar
Kochhar |
|
1 |
|
Prem Lata |
|
1 |
|
Sukraj Kumar
& Sons, HUF |
|
1 |
|
Pankaj Daga |
|
1 |
|
Bhansali Tech
Private Limited |
|
200 |
|
Sunita Kochhar |
|
1 |
|
Saithak Jain |
|
1 |
|
Bhaqvika Jain |
|
1 |
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Category |
|
Percentage of
Holding |
|
Directors or relatives of directors |
|
100.00 % |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Cables, Wires and Data Cables |
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|
|
|
Products : |
v
Switchboard
and Telephone Cables v
PCM
Cables v
Radio
Frequency Coaxial Cables v
Polythylene
Insulated Jelly Filled Cables v
Ethernet
Cables for Broadband Solutions v
Power
Cables v
Equipment
Wires v
Instrumentation
and Data Cables v
Control
Cables v
Local
Area Network (LAN) Cables v
CATV Cables |
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Exports : |
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Countries : |
Europe and |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
Around 150 |
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Bankers : |
♠
UCO
Bank, Mayapuri Branch, ♠
Standard
Chartered Bank ♠
State
Bank of ♠
HDFC
Bank Limited ♠
ICICI
Bank Limited |
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|
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Facilities : |
Cash Credit (UCO Bank) Vehicle Loan (Standard Chartered Bank) Secured Loan (RIICO) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
G. S. Kohli and
Company Chartered
Accountants |
|
Address : |
A. R. A. Enclave,
E-2, Jhandewalan Extension, |
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Tel. No.: |
91-11-23521330 |
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Fax No.: |
91-11-25791159 |
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E-Mail : |
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Memberships : |
v
EEPC v
TEMA v
FISME |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
88859 |
Equity Shares |
Rs. 100/- each |
Rs. 8.886 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
8.886 |
8.166 |
7.666 |
|
|
2] Reserves &
Surplus |
10.098 |
6.836 |
5.250 |
|
NETWORTH
|
18.984 |
15.002 |
12.916 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
44.550 |
29.316 |
12.396 |
|
|
2] Unsecured
Loans |
14.438 |
14.384 |
15.292 |
|
TOTAL BORROWING
|
58.988 |
43.700 |
27.688 |
|
|
DEFERRED TAX
LIABILITIES |
0.791 |
1.008 |
0.000 |
|
|
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|
|
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TOTAL
|
78.763 |
59.710 |
40.604 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
18.941 |
19.041 |
18.432 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
|
|
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|
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Inventories
|
18.770
|
12.965
|
12.227 |
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Sundry Debtors
|
47.801
|
36.481
|
9.898 |
|
|
Cash & Bank Balances
|
5.031
|
3.565
|
3.252 |
|
|
Other Current Assets
|
1.008
|
2.006
|
2.694 |
|
|
Loans & Advances
|
3.954
|
1.510
|
3.388 |
Total Current Assets
|
76.564
|
56.527
|
31.459 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities & Provisions
|
16.742
|
15.858
|
9.290 |
Total Current Liabilities
|
16.742
|
15.858
|
9.290 |
|
Net
Current Assets
|
59.822
|
40.669
|
22.169 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.003 |
|
|
|
|
|
|
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TOTAL
|
78.763 |
59.710 |
40.604 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
250.120 |
124.464 |
57.339 |
|
Other Income |
|
|
|
|
Total Income |
250.120 |
124.464 |
57.339 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
2..729 |
2.268 |
0.490 |
|
Provision for Taxation |
0.739 |
0.682 |
0.165 |
|
Profit/(Loss) After Tax |
1.990 |
1.586 |
0.325 |
|
|
|
|
|
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Expenditures : |
|
|
|
|
Total Expenditure |
241.155 |
122.196 |
56.849 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
0.79
|
1.27
|
0.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.09
|
1.82
|
0.85 |
|
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.85
|
2.10
|
0.65 |
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
10.57
|
2.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.99
|
2.91
|
2.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.57
|
3.56
|
3.39 |
LOCAL AGENCY FURTHER INFORMATION
Subject acts as
Manufacturer of Cables, Wires and Data Cables.
Incorporated in
1987, a part of Bhansali group, the subject is engaged in the business of
manufacturers of Cables, Wires and Data Cables. The subject is manufacturing
most comprehensive lines of coaxial cables and their products are designed to
meet the needs for safe and reliable transmission of voice, video and data.
The subject has
accredited ISO 9001 certification for Quality Practices.
Subject exports its
finished Cables Wires and Data Cables to Worldwide.
Bankers Charges
Report as per Registry
|
Name of the company |
BHANSALI CABLES AND CONDUCTORS PRIVATE
LIMITED |
|
Presented By |
B. S. JAIN |
|
1) Date and description of instrument creating the change |
Date of regd.
Agreement 30.03.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 38.000
Millions [CC Rs. 7.500 Millions; PCL Rs. 5.000 Millions; BP Rs. 12.000 Millions
BG Rs. 6.000 Millions and LC Rs. 7.500 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 |
Primary – Stock in
trade and process all raw materials, finished goods and book debts and all
other current assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Collateral : Property at GB
17, Shivaji Enclave, Repayable on
demand with Interest. |
|
5) Name and Address and description of the person entitled to the charge. |
UCO Bank,
Mayapuri, Phase – I, |
|
6) Date and brief description of instrument modifying the charge |
Date of documents
: 16.01.2006 |
|
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. |
Limits
enhancement from 38.600 Millions to Rs. 60.000 Millions |
|
Corporate
identity number of the company |
U74899DL1987PTC029645 |
|
Name of the
company |
BHANSALI CABLES
AND CONDUCTORS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
GB-17, Shivaji
Enclave, |
|
This form is for |
Modification of charge |
|
Type of charge |
Equitable mortgage or mortgage of property by deposition the title deeds |
|
Particular of
charge holder |
UCO Bank,
Mayapuri Industrial Area, Phase – I, |
|
Amount secured by
the charge |
Rs. 70.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Repayable on
demand; Rate of interest – BPLR + 1 %; Margin : 25 % on all goods; Penal rate
on Interest 2 % |
|
Description of
the property charged indicating whether it is a charged on |
Immovable
properties Stock in trade Book debts |
|
Particulars of
the property charged |
Property at GB
17, Shivaji Enclave, |
|
Charge
identification number of the charge to be modified |
80006919 |
|
Brief description
of the instrument modifying the charge under section 135 |
Agreement Re
Inland / Foreign Bills Purchased and advances against Bills in course of
collection dated 22.06.2006 |
|
Particulars of
the present modification |
The overall
limits is enhanced from Rs. 60.000 Millions to Rs. 70.000 Millions and shall
cover the additional AD + HOC Bill purchased limit of Rs. 10.00 Millions for
three months. A bill purchased is now Rs. 30.000 Millions. |
Group Profile
Established way
back in the year 1940 Bhansali Group
is a renowned name in the field of manufacturing and exporting the most
comprehensive line of Radio Frequency Coaxial cables, Equipment wires,
Instrumentation & Data cables, Control cables, Telephone cables, Local Area
Network cable, CATV cables for critical installations.
The company has been awarded ISO 9002
certification for its Quality Practices and enjoys a solid client base
that include the most reputed names in the Industry.
Bhansali Group has been in
existense in
From the beginning customer service has been of utmost importance to us. As
they strongly believe in the sovereign position of the customer, they provide
quick and efficient service which ensure customer satisfaction. To accomplish
this they have a separate unit for customer care that is responsible for taking
into account every query given by the customer, which is resolved as quickly as
possible.
Quality Assurance
and Testing
They strictly follow the concept of Total quality management and have been awarded ISO 9002 certification for their quality system.
Their products are put through IMI, in-process and final strenuous testing procedures in their testing lab well equipped with latest testing equipment.
Research and
Development
They give immense stress on Research & Development at various levels of manufacturing and testing. Continuous improvement in the quality of existing products, services and development of new products is a policy matter at their works.
They develop cables to suit the stress & strain of installation conditions at various industries.
Product Packaging
and Shipment
They are capable of meeting the most strict delivery schedules. Meeting the deadline is always the top priority as any delay in the delivery of cable can contribute to overall project delay and cost overrun.
Cable is supplied in wooden reels, corrugated boxes and coils. Cable ends are sealed with BOPP self adhesive tape and non-hygroscopic sealing caps to protect the cable ends from moisture.
Approvals
- ISO
- CSA
- DOT
- DVB
- BIS
- NTPC
- MTNL
- ITI
- LCSO
- Broadcast
Engineering Consultants India Limited
- NHPC
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.44.01 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.55.04 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|