MIRA
INFORM REPORT
|
Report Date : |
02.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
RANGSONS
ELECTRONICS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
347,
D 1 & 2, KIADB Electronic City, Hebbal Industrial Area, Mysore – 570 016,
Karnataka, INDIA. |
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|
Country : |
India
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Financials (as
on) : |
31.03.2006 |
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Date of
Incorporation : |
30.06.1993 |
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Com. Reg. No.: |
08-14470 |
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CIN No.: [Company
Identification No.] |
U31909KA1993PTC014470 |
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|
|
TAN No.: [Tax Deduction
& Collection Account No.] |
BLRR02027E |
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|
|
|
Legal Form : |
Private
limited liability company. |
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|
|
|
Line of
Business : |
Manufacturer
and Exporter of Electronic Products, PCB and Cable Harness, Printed Circuit
Assembly. |
RATING &
COMMENTS
|
MIRA’s Rating
: |
Ba |
RATING |
STATUS |
PROPOSED
CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
|
Maximum Credit
Limit : |
USD 175000 |
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|
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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. Directors are reported as
experienced, respectable and having substantial means of their own. Their
trade relations are fair. Financial position is good. Payments are usually
correct and as per commitment. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered
Office/Factory/ Corporate
Office: |
Plot
No. 347, D 1 & 2, KIADB Electronic City, Hebbal Industrial Area, Mysore –
570 016, Karnataka, India. |
|
Tel. No.: |
91-821-2404550
– 554/ 428 0000 |
|
Fax No.: |
91-821-2404529/
428 0060 |
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E-Mail : |
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Website : |
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Area : |
20000
sq. fts. |
|
Location : |
Owned |
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|
Regional
office: |
Parvati
Plaza, 1st Floor, 104/105, Richmond Circle, Bangalore – 560 025,
Karnataka, India |
|
Tel. No.: |
91-80-2272038 |
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Fax No.: |
91-80-2272039 |
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E-Mail : |
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|
|
|
|
Bangalore
Office : |
77,
Hope Farm, ITPL Road, White Field, Bangalore – 560 006, Karnataka, India. |
|
Tel. No.: |
91-80-4125
4701-02-03/ 4152 3820 |
|
Mobile No.: |
91-99455 52032 |
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Fax No.: |
91-80-4125 4704 |
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E-Mail : |
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Contact
Person: |
Mr. N H Ashok |
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|
|
|
Overseas
office : |
Located
at Singapore, Dubai, Germany, France and USA |
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|
|
|
Group
offices: |
All
over India |
DIRECTORS
|
Name : |
Mr.
Arjun Murthy Ranga |
|
Designation : |
Director |
|
Address : |
2634, II Main, Gokulam,
V V Mohalla, Mysore – 570002, Karnataka |
|
Date of
Birth/Age : |
30.04.1974 |
|
Date of
Appointment : |
31.03.2001 |
|
|
|
|
Name : |
Mr.
Guru Ranga Rao |
|
Designation : |
Director
|
|
Address : |
3005,
Gokulam, V V, Mohalla, Mysore – 570002,
Karnataka |
|
Date of
Birth/Age : |
09.10.1942 |
|
Date of
Appointment : |
31.03.2001 |
|
|
|
|
Name : |
Mr.
Phanisha Kalale Nagappa |
|
Designation : |
Director
|
|
Address : |
3 - 20th
Block, Madhuvana Layout 8th Cross, Sriramapuram II Stage, Mysore –
570 023, Karnataka, India. |
|
Date of
Birth/Age : |
14.12.1967 |
|
Date of
Appointment : |
20.12.2002 |
|
|
|
|
Name : |
Mr. Vasu Ranga
Rao |
|
Designation : |
Director |
|
Address : |
2980, 6th
Main Gokuldham, V V Mohalla, Mysore – 570 002, Karnataka, India. |
|
Date of
Birth/Age : |
08.01.1949 |
|
Date of
Appointment : |
30.06.1993 |
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|
|
|
Name : |
Mr.
Pavan G. Ranga |
|
Designation : |
Chief
Executive Officer |
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|
|
|
Name : |
Mr. H. M. Dattatri |
|
Designation : |
Company Secretary |
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|
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|
Name : |
Mr. G. J. Singh |
|
Designation : |
Vice President - Sourcing and SCM |
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|
|
Name : |
Mr. R. C. Scuchitra |
|
Designation : |
Vice President – Operations |
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|
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|
Name : |
Mr. H. S. Ramesh |
|
Designation : |
Head
- HRD |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names
of Shareholders |
No. of Shares |
|
Equity
shares of Rs. 100/- each |
|
|
Mr.
Arjun Murthy Ranga |
4900 |
|
Mr. Anirudh
Ranga |
4900 |
|
Mr.
Guru Ranga Rao |
4600 |
|
Mr.
Pavan Ranga |
4600 |
|
Mr.
Sridhar Ranga Rao |
1000 |
|
Others |
1100 |
|
Total: |
21100 |
|
Names
of Shareholders |
No. of Shares |
|
Preference
shares of Rs. 1000/- each |
|
|
Mr. Arjun
Murthy Ranga |
490 |
|
Mr.
Anirudh Ranga |
490 |
|
Mr.
Guru Ranga Rao |
460 |
|
Mr.
Pavan Ranga |
460 |
|
Mr.
Sridhar Ranga Rao |
100 |
|
Others |
110 |
|
Total: |
2110 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturer
and Exporter of Electronic Products, PCB and Cable Harness, Printed Circuit
Assembly. |
|
|
|
|
Products: |
Ř
OC-48
PO System Ř
2048
Port Fault Tolerant PABX Ř
Electronics
for Quadro-pole Mass Spectrometer Ř
Telco
Switch for 128, 512 and 64K port Ř
Slip
Ring Power Recovery System Ř
Printed
Circuit Boards Ř
Cable
Assemblies Ř
Electronic
Assemblies & Components |
|
|
|
|
Export To: |
Europe and USA |
|
|
|
|
Imports from : |
USA,
Japan, Korea, Singapore, Malaysia, UK, Hong Kong and Taiwan |
|
|
|
|
Terms : |
|
|
Selling : |
Credit
(30-60 days) |
|
|
|
|
Purchasing : |
L/C
or credit (60-120 days) |
GENERAL
INFORMATION
|
Trade
Reference/ Customer: |
L & T |
|
|
|
|
No. of
Employees : |
429 |
|
|
|
|
Bankers : |
State
Bank of Mysore, Mysore Main Branch, No. 7, Ashoka Road, Mysore – 570 001,
Karnataka |
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|
|
|
Facilities : |
-- |
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|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Loknath
& Company Chartered
Accountants |
|
Address: |
459, Aashianaa,
6th Main, 1st Stage, Vijayanagar Layput, Mysore – 570
017, Karnataka, India. |
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|
|
|
Associates/Subsidiaries
: |
Ř N Ranga Rao & Sons - Agarbatti manufacturers and exporters Ř Manmohak Creations Ř Property Marketing Services Ř VCT Labs Ř Rangsons Perfumes Private
Limited Ř
Natural
Essential Oils Private Limited |
|
|
|
|
Parent
company: |
Ř Rangsons Group Leading
industrial house in South India, with a spectrum of divisions taking care of its
multifaced activities viz. Incense sticks, essential oils, perfumes, etc. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity
shares |
Rs. 100/- each |
Rs. 3.000 millions |
|
6500 |
Redeemable
Preference Shares |
Rs. 1000/- each |
Rs. 6.500 millions |
|
|
Total |
|
Rs. 9.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21100 |
Equity
shares |
Rs. 100/- each |
Rs. 2.110 Millions |
|
2110 |
Redeemable
Preference Shares |
Rs. 1000/- each |
Rs. 2.110 Millions |
|
|
Total |
|
Rs. 4.220 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 |
4.220 |
4.000 |
4.000 |
|
|
2] Share
Application Money |
0.000 |
2.150 |
18.080 |
|
|
3] Reserves &
Surplus |
38.276 |
24.896 |
0.000 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
42.496 |
31.046 |
22.080 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
60.057 |
42.421 |
43.690 |
|
|
2] Unsecured
Loans |
34.673 |
29.636 |
20.390 |
|
TOTAL
BORROWING
|
94.730 |
72.057 |
64.080 |
|
|
DEFERRED TAX
LIABILITIES |
5.603 |
6.146 |
5.960 |
|
|
|
|
|
|
|
TOTAL
|
142.829 |
109.249 |
92.120 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
74.428 |
60.905 |
52.960 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
37.140 |
21.501
|
12.650
|
|
|
Sundry Debtors
|
50.755 |
32.943
|
32.630
|
|
|
Cash & Bank Balances
|
12.635 |
9.770
|
6.850
|
|
|
Other Current Assets
|
0.000 |
0.000
|
0.000
|
|
|
Loans & Advances
|
9.792 |
9.030
|
11.530
|
Total Current Assets
|
110.322 |
73.244 |
63.660
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
35.886 |
23.130
|
24.500 |
|
|
Provisions
|
6.035 |
1.77
|
0.00 |
Total Current Liabilities
|
41.921 |
24.900 |
24.500
|
|
Net
Current Assets
|
68.401 |
48.344 |
39.160
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
142.829 |
109.249 |
92.120 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income]
|
192.385 |
122.139 |
112.500 |
|
|
|
|
|
|
|
Profit/(Loss) Before Tax
|
15.417 |
8.553 |
5.240 |
|
Provision for Taxation
|
4.187 |
2.716 |
1.870 |
|
Profit/(Loss) After Tax
|
11.230 |
5.837 |
3.370 |
|
|
|
|
|
|
|
Export Value (USD)
|
NA |
NA |
131.675 |
|
|
|
|
|
|
|
Import Value
|
NA |
NA |
48.710 |
|
|
|
|
|
|
|
Total Expenditure
|
162.253 |
101.876 |
N.A |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
5.84 |
4.78 |
3.00
|
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
8.01 |
7.00 |
4.65
|
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
8.34 |
6.38 |
4.49
|
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.36 |
0.28 |
0.23
|
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
3.22 |
3.12 |
4.01
|
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
2.63 |
2.94 |
2.60
|
LOCAL AGENCY
FURTHER INFORMATION
The
company’s fixed assets of important value include land, building, plant and
machinery, furniture and fixtures and vehicles.
HISTORY
The
company was incorporated on 13th June 1993 at Mysore in Karnataka
having Company Registration Number 14470.
The
company’s registered office was shifted from Rangsons House, P. B. No. 52, 1553,
Vani Vilasa Road, Mysore - 570 004, Karnataka to present address before six
months.
The
company’s factory was also shifted from 145, Manandavadi Road, Mysore - 570
008, Karnataka to present address before six months.
It
is in trade terms with:
Ř Multicore, Malaysia
Ř Nippon Electronics, Japan
Ř Advance Technology, USA
Ř Samsung, Korea
Ř Quantum, UK
Ř Memec Components, Hong Kong
Ř Epotech Electric Corporation,
Taiwan
Ř Wintech Corporation, Japan
Ř Kobaden Electronics, Japan
Ř Future Electronics Distribution
Pte. Ltd., Singapore
Ř Wipro Ge Medical Systems
Limited, Bangalore, Karnataka, India
Ř Larsen & Toubro Limited,
Mysore, Karnataka, India
Ř Wipro Peripherals / Wipro
Limited, Mysore, Karnataka, India
Ř Bharat Heavy Electricals
Limited, Bangalore, Karnataka, India
Ř Asea Brown Boveri Limited,
Bangalore, Karnataka, India
Ř Indian Telephone Industries
Limited (ITI), Bangalore, Karnataka, India
Ř Tata Electronic Development
Services, Bangalore, Karnataka, India
Ř BPL Group, Palakkad
Ř BPL Group, Bangalore, Karnataka,
India
Ř HCL Information Systems Limited,
Bangalore, Karnataka, India
Ř Crompton Greaves, Bangalore
Karnataka, India
Ř Enercon Systems Private Limited,
Bangalore Karnataka, India
Ř Electronic Corporation of India
Limited, Hyderabad, Andhra Pradesh, India
Ř HCL Peripherals Limited,
Chennai, Tamilnadu, India
Ř HCL Peripherals Limited,
Pondicherry, Tamilnadu, India
Ř
Kirloskar
Electric Company Limited, Mysore, Karnataka, India
TRADE REFERENCE
Ř
Emerson
Network Power India Private Limited
Ř
Tata Honeywell
Limited
Ř
Aspire
Communications Private Limited
Ř
Chaya Graphics
Private Limited
Ř
Electro
Magnetic Devices
AS
PER WEBSITE
Vision
To become a global leader in
Electronic manufacturing by providing complete solutions required to transform
ideas into successful products & services
Mission
v
To maximize the value of all their Stake Holders including
Employees, Customers, Share Holders & Suppliers by providing quality
products & services through Total Electronic Manufacturing Solutions
(TEMS).
v
To assure the highest level of customers satisfaction by
being flexible.
v
To address the need of the individual customer by being
systems driven & process centric.
v
To develop people within & outside the organization by
encouraging the employees to work diverse teams & through training &
delegation.
v
To work with the highest level of ethical standards in all
dealings.
v
To serve the community to be environment friendly
Equipment
Rangsons Electronics features a flexible, fully automatic in-line Surface Mount
process. Their SMT process portrays outstanding equipment from the leaders in
their industry. They have designed their automated processes specifically to
allow for quick changeovers and flexibility as well as mid-high volume runs.
People
The company at Rangsons Electronics believe that-
v
their people are the most valuable assets.
v
they owe their
success to the commitment & dedication of their work force.
v
Training is the backbone of the company’s success in the
development & implementation of global quality systems.
The latest trends in technology is continually updated within the organization
through their extensive Training Programmes. Their Training center supports the
requirements for the entire spectrum of Operational & Managerial activities
by providing very dynamic training & development services with the belief
that an educated workforce has better ability to contribute to generation of
innovative ideas and implementation solutions.
PLANT
LIST :
LINE
ALPHA
Screen Printer
SMD Placement - Chip Shooter
SMD Placement - Flexible Placer
Reflow Soldering
LINE BETA
Screen Printer
SMD Placement
Reflow Soldering
LINE
GAMMA
Screen Printer
Specifications of SMD Placement
Specifications of Reflow
Soldering
LINE
DELTA
Screen Printer
SMD Placement
Reflow Soldering
Specifications for Machineries
MYDATA
FUJI
Specifications of Screen Printers
Specifications of Reflow Ovens
Standards and Certifications
All 4 facilities of Rangsons are ISO 9001:2000 certified. Their main facility
is also ISO 14001 & 18001 certified*. From order entry through the entire
manufacturing process & support services, all activities are processed
& controlled in accordance with the quality management system for ISO 9001.
They have been assessed & certified by TUV Suddeutschland.
The company are totally committed to producing PWA's in a high yield
manufacturing process & PWA's are manufactured to conform to the IPC- 610C
standards adhering to all contractual & customer requirements
Rangsons Electronics has embarked on certification strategy with a strong sense
of commitment to achieving Customer Delight through Quality, Delivery, Cost,
along with controlling the usage of resources used for manufacturing & with
a drive towards protection & conservation of the environment
Quality
Policy
REPL is committed to:
Establish Market Leadership By
Adopting The State Of The Art Technology In The Field Of PCB Assembly And
Through The Active Participation Of All Concerned.
Provide A Competitive Atmosphere
Through Continual Improvement, On-time Delivery And Identify And Meet The Needs
Of The Customer To Give Complete Satisfaction.
Quality Circles
Rangsons Electronics considers process control as the key to achieve product
reliability. Quality circles are formed with a commitment to proactive process
control. Representatives from various related departments comprise of these
teams who analyze the data utilizing various proven quality control
methodologies to ensure that products cost and reliability is built-in through
their controlled processes. SPC techniques are widely used.
Quality basic model is that of
Data collection
Pareto Analysis- identification of vital few problems
Fish bone Analysis
Brain storming sessions - evolve corrective & preventive
actions.
This is followed by the implementation phase of the corrective & preventive
actions during which stringent monitoring is done to analyze the effectiveness
of the corrective actions before the closure of the non-conformance.
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.44.56 |
|
UK Pound |
1 |
Rs.85.79 |
|
Euro |
1 |
Rs.58.40 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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 |
|