MIRA
INFORM REPORT
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Report Date : |
30.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
GARGI HUTTENES ALBERTUS
PRIVATE LIMITED |
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Registered Office : |
203, Vasant Vihar Complex, Next to Basant Cinema, Dr. C Gidwani
Road, Chembur, Mumbai - 400 074, Maharashtra, Mumbai. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.03.1988 |
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Com. Reg. No.: |
11-46413 |
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CIN No.: [Company
Identification No.] |
U74999MH1988PTC046413 |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Manufacture, produce, process, use, buy or otherwise acquire, develop, refine, manipulate, import, export, sell, distribute, trade in, dispose off or otherwise deal in consumable chemical products and auxiliary materials required by foundries and steel Industries including core oil, foundry fluxes, resin coated sand and all kinds of industrial resins and binders. Subject is engaged in manufacturing of foundry chemicals
and fluxes, P. F. resins, hardners and refractory coatings. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 850000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 resourceful businessmen. Their trade relations are reported as fair. General financial position is satisfactory. Payments are reported as slow but correct. The Company can be considered normal for business dealings
at usual trade terms & Conditions . |
LOCATIONS
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Registered Office : |
203, Vasant Vihar Complex, Next to Basant Cinema, Dr. C
Gidwani Road, Chembur, Mumbai - 400 074, Maharashtra, Mumbai. |
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Tel. No.: |
91-22-25563596 / 25563597 / 25562705 / 25580815 / 25564379
/ 25201596 |
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Fax No.: |
91-22-25562706 / 25562080 |
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E-Mail : |
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Website : |
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Corporate Office : |
205, Vasant Vihar Complex, Next to Basant Cinema, Dr. C.
Gidwani Road, Chembur, Mumbai - 400 074, Maharashtra, Mumbai. |
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Tel. No.: |
91-22-25563596 / 25563597 / 25562705 / 25580815 /
25564379 |
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Fax No.: |
91-22-25562706 / 25562080 |
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E-Mail : |
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Website: |
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Factory 1 : |
Plot No. D-360, M.I.D.C., TTC Industrial Area, District Thane, Maharashtra, India |
SOLE
PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr. Vinod Vishwamitra Kapur |
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Designation : |
Chairman and Managing
Director |
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Address : |
18, Union Park,
Chembur, Mumbai - 400 071, Maharashtra, India |
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Date of Birth/Age : |
B.Sc. |
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Qualification : |
26.10.1943 |
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Previous Employment: |
Gargi Chemicals
Private limited for 24 Years |
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Experience : |
41 years |
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Date of Appointment : |
07.03.1988 |
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Name : |
Mr. Vicky Vishwamitra Kapur |
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Designation : |
Joint Managing
Director |
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Address : |
18, Union Park,
Chembur, Mumbai - 400 071, Maharashtra, India |
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Date of Birth/Age : |
B.Sc. |
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Qualification : |
30.10.1952 |
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Previous Employment: |
Gargi Chemicals
Private Limited for 24 Years |
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Experience : |
33 years |
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Date of Appointment : |
07.03.1988 |
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Name : |
Mr. Bernd Stapenhorst (foreign) |
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Designation : |
Director |
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Address : |
Kalsar Wihale Ringis,
4, Dusseldorf ober Kassel, West Germany |
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Date of Birth/Age : |
07.03.1988 |
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Experience : |
Mr. Klaus Karl
Georg Pampel |
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Date of Appointment : |
Director |
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Wiesenstrasse 23,
40549 Dusseldorf, Germany |
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Name : |
B.Sc. |
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Designation : |
14.02.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Huttens Albertus Chemische werke GmbH (Germany) |
194000 |
40.00 |
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Mr. Vinod V. Kapur joint with Ms Vana K Ghatalia Ms Kamini Jain Ms Nandiata Ghatlia |
1 |
0.00 |
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Mr. Vinod V. Kapur |
1 |
0.00 |
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Mr. Vinod V. Kapur joint with Mr Rahul Jain |
1 |
0.00 |
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Mr. Vinod V. Kapur joint with Mr S Bahrdwaja HUF Mr Rajkumar Keda HUF |
1 |
0.00 |
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Mr Vinod Kapoor joint with Mr Yogesh Vyas |
1 |
0.00 |
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Mr. Vinod V. Kapur joint with Ms Seema Kapur Mr J P Ahluwalia Mrs Hemlata Kamani |
1 |
0.00 |
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Mr. Vinod V. Kapur joint with Mr P I Kapur |
1 |
0.00 |
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Mr. Vinod V. Kapur joint with Mrs Hardevi Mehra Ms Sangeeta Mehra Mr Suresh Shastri |
1 |
0.00 |
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Mr Vinod Kapoor joint with Ms Madhuri Mehra |
1 |
0.00 |
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Mr Vinod Kapoor joint with Mr Nayyar Kapoor Ms Sudha Shastri |
1 |
0.00 |
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Mr. Vinod V. Kapur joint with Mr U Periera |
1 |
0.00 |
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Mr. Vinod V. Kapur joint with Ms Pushpa Jadhav Ms Kiran Gurbaxani Ms Anjana Gurbaxani |
1 |
0.00 |
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Mr. Vinod V. Kapur |
32881 |
6.78 |
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Mr. Vicky V. Kapur joint with Khosla Industries Mr VIshwamitra Shastri |
1 |
0.00 |
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Mr Vicky Kapur Joint with Ms Jyoti Gandhi |
1 |
0.00 |
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Mr Vicky Kapur |
1 |
0.00 |
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Mr Vicky Kapur joint with |
1 |
0.00 |
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Mr Vicky Kapur joint with Ms Margaret Kedia Mr Rajkumar Kedia |
1 |
0.00 |
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Mr Vicky Kapur joint with Ms Bina Ray |
1 |
0.00 |
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Mr Vicky Kapur joint with Mr S Bhardawaja Mr K V Ghatia |
1 |
0.00 |
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Mr Vicky Kapoor joint with Ms Sitadevi Sahani |
1 |
0.00 |
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Mr Vicky Kapur joint with Ms Heena S Maru |
1 |
0.00 |
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Mr Vicky Kapur joint with Ms Vaishali K Ghatalia Ms Anjali Kedia |
1 |
0.00 |
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Mr Vicky Kapur |
32883 |
6.78 |
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Gargi Holdings Private Limited |
375 |
0.08 |
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Mr Vishamitra Kapur HUF Karta Mr. Vinod Kapur |
115089 |
23.73 |
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Mr. Vinod Kapur Joint HUF |
44000 |
9.07 |
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Ms. Vicky Kapoor HUF |
44000 |
9.07 |
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Mr Gaurav V Kapoor Joint with Mr Vinod Kapoor Ms Geeta V Kapoor |
10875 |
2.24 |
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Master Varun V Kapoor (Minor) joint with Father Mr Vicky Kapoor Mrs Namita V Kapoor |
10875 |
2.24 |
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485000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture, produce, process, use, buy or otherwise acquire, develop, refine, manipulate, import, export, sell, distribute, trade in, dispose off or otherwise deal in consumable chemical products and auxiliary materials required by foundries and steel Industries including core oil, foundry fluxes, resin coated sand and all kinds of industrial resins and binders. Subject is engaged in manufacturing of foundry chemicals
and fluxes, P. F. resins, hardners and refractory coatings. |
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Products : |
Generic Names of the Principal Products of the company are : Name of the Product Item Code No P. F. Resins 39094020 Hardners 38159000 Refractory Coatings 38160000 |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
Actual
Production |
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Foundry Resins, Hardeners and Coatings |
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17000 TPA |
13632 Matrix Tones |
GENERAL
INFORMATION
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No. of Employees : |
200 |
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Bankers : |
Ř The Cosmos Cooperative Bank Limited, Pune Development Co-operative Bank Limited, Vashi Branch, New
Mumbai – 400703, Sector 17, DBC Vashi |
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Facilities : |
The Cosmos Cooperative Bank Limited – v Hypothecation of Tangible goods/movable property : Rs. 7.000 millions as on 22.04.2003 v Hypothecation
of Tangible goods/movable property : Rs. 5.000 millions as on 03.12.2003 |
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Auditors : |
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Name : |
J.V. Sanghvi & Company Chartered Accountants |
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Address : |
90 Feet Road, 4/97, Pant Nagar, Mumbai - 400
075,Maharashtra, India |
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Tel. No.: |
91-22-25129458 |
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Collaborators : |
Huttenes Albertus Chemische Werk Gmbh |
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Associates/Subsidiaries : |
v Gargi Steel Chem Private Limited v Gargi Holding Private Limited v Gargi Impex Corporation v Gargi Steel Chem Private Limited v Karjat Horticultural Private Limited v GVK Trust v Varun Enterprises v Gargi Mettallurgical Corporation (Merged with Gargi Chemicals Private Limited) v 205, Vasant Vihar Complex, Next to Basant Cinema, Dr. C. Gidwani Road, Chembur, Mumbai - 400 074, Maharashtra, Mumbai. v Tel. No. : 91-22-25563596 / 25563597 / 25562705 / 25580815 / 25564379 v Fax No. : 91-22-25562706 / 25562080 v E-Mail : gargi@bom2.vsnl.net.in / info@gargi-india.com v Website : http://www.gargi-india.com v Act as traders v Gargi Industries - Division of Gargi Chemicals Private Limited v 2, Mercantile Apartments, Next to Basant Cinema, Chembur, Mumbai - 400 074 v Tel. No. 91-22-25563596 / 97 v Fax No. 91-22-25562706 / 25572080 v E Mail : gargi@bom2.vsnl.net.in v Website : http://www.gargi-india.com |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity
Shares |
Rs. 100/-each |
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
485,000 |
Equity
Shares |
Rs. 100/- each |
Rs. 48.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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48.500 |
48.500 |
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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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169.526 |
125.154 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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218.026 |
173.654 |
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LOAN FUNDS |
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1] Secured Loans |
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37.922 |
56.715 |
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2] Unsecured Loans |
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39.990 |
23.726 |
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TOTAL BORROWING |
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77.912 |
80.441 |
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DEFERRED TAX LIABILITIES |
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4.221 |
5.005 |
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TOTAL |
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300.159 |
259.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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56.858 |
53.388 |
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Capital work-in-progress |
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0.982 |
0.051 |
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INVESTMENT |
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5.166 |
0.268 |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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59.256 |
50.408 |
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Sundry Debtors |
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338.359 |
267.547 |
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Cash & Bank Balances |
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12.723 |
18.477 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
14.471 |
7.562 |
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Total
Current Assets |
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424.809 |
343.994 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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145.755 |
130.080 |
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Provisions |
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41.901 |
8.521 |
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Total
Current Liabilities |
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187.656 |
138.601 |
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Net Current Assets |
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237.153 |
205.393 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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300.159 |
259.100 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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1164.872 |
922.877 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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1164.872 |
922.877 |
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Profit/(Loss) After Tax |
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126.195 |
65.307 |
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Earnings in Foreign Currency : |
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Total Earnings |
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77.404 |
58.998 |
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Expenditures : |
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Interest |
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11.173 |
9.816 |
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Depreciation & Amortization |
|
4.371 |
3.997 |
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Other Expenditure |
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1023.132 |
843.756 |
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Total Expenditure |
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1038.676 |
857.569 |
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KEY RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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10.83 |
7.07 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
0.86 |
0.79 |
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Current Ratio (Current Asset/Current Liability) |
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2.26 |
2.48 |
LOCAL AGENCY
FURTHER INFORMATION
Subject is joint venture between Gargi Group and Huttenes Albertus Chemicals Works GmbH, Germany.
The group has manufacturing facilities at Navi Mumbai, Taloja and Belgaum. It also has offices and godowns at Ahmedabad, Baroda, Belgaum, Bangalore, Chandigarh, Coimbatore, New Delhi, Hyderabad, Kolhapur, Chennai, Pune, Raipur and Sholapur.
The company's fixed assets of important value include MIDC leasehold land, factory building, plant & machinery, electrical installation and office equipments.
The company employs around 200 persons in its' set up.
The group employs around 270 dynamic personnel including strong technical team and has excellent marketing network all over India.
Leading manufacturers of foundry additives, fluxes, degassers, metal feeding aids, etc. It exports its products to Middle East, Africa and South East Asian Countries. It represents the following :
Ř Omega Foundry Machinery Limited, UK (Continuous sand mixers / reclamation plant)
Ř Henrich Wagner Sinto, Germany (Moulding lines with high pressure air flow moulding machine)
Ř Simpson Technologies, Switzerland (Sand mixers / mullers, multi coolers)
Ř Globe Metallurgicals, USA (Magnesium ferro silicon alloys)
Ř Le Laboratories, France (Ceramic metal filters)
The product range includes :
Ř Phenolic no Bake Binders including fast setting types, novalak for coated sands, cold box resins, furan resin, ester cured phenolic resins
Ř Refractory coatings including zircon base coating, zircon / graphite base coating, ceramic / graphite / iron oxide base coating and magnasite base coating
Ř Three part no bake system
Ř Core oils
Ř CO2 binder and breakdown agent
Ř Innoculants for high duty grey iron and S.G. iron
Ř Sleeves and exothermic compounds
Ř Slag holding compounds
Ř Hot tops and tundish boards
Ř Hot joining and cold joining core paste
Ř Degasser, deoxidisers and grain refiners for non ferrous
Ř Lubricants for die casting
Ř Gargi Softsys Private Limited
Subject offers a wide range of value-added consultancy in information technology and custom-made software development services. The services include :
Ř Business management control system
Ř Inventory control systems
Ř Application software systems for scientific and engineering applications
Ř Production control systems
Ř General support services including web-based projects
Ř Software interfaces for automated control of instruments / measuring devices including data acquisition and data processing.
Product
Technology
With GERMAN TECHNOLOGY
: Phenolic no Bake Binders including,
Fast
Setting Types
Novalak
for Coated Sands
Cold
Box Resins
Furan
Resin
Ester
Cured Phenolic Resins
The Latest in Refractory Coatings,
Zircon
Base Coating
Zircon/Graphite
Base Coating
Ceramic
/ Graphite / Iron Oxide Base Coating
Magnasite
Base Coating
With GARGI IN-HOUSE RESEARCH & DEVELOPMENT :
Three
Part No Bake System
Core
Oils
CO2
Binder and Breakdown agent
Innoculants
for High Duty Grey Iron and S.G.Iron
Sleeves
and Exothermic Compounds
Slag
Holding Compounds
Hot
Tops & Tundish Boards
Hot Joining and Cold Joining Core Paste
Degasser, Deoxidisers and Grain Refiners for
Non-Ferrous
Lubricants for Die Casting
Performance
During the year 2004-05, the company registered substantial growth in sales by Rs 348.100 Millions increase by 61 %. The volume of sales jumped from Rs 573.800 Millions to Rs 921.900 Millions significantly improving the company’s market share. The export sales grew by 50%.
The company has achieved sustainable growth in its operations supported by aggressive marketing policy, motivated management team, better operating and financial efficiency. The cost management and strategic management techniques helped in maintaining a good profitable track record despite increase in input costs which could not be fully passed on to the customers.
The year under review witnessed unprecedented increase in prices of major raw materials viz. Petroleum Products and petrol based chemicals and with robust global demand, price as well as material availability continued to be a major challenge.
The relative impressive top and bottom line achievements have been in a backdrop of continuing steep increase in the input costs. The overall performance, therefore proves both the volume and price leadership of the company.
Fixed Assets
- Leasehold Rights to MIDC Land
- Land at Mann (Pune)
- Factory Buildings
- Office Premises
- Staff Quarters
- Trade Mark
- Plant and Machinery
- Electrical Installation
- Furniture and Fixtures
- Motor Cars
- Delivery Vans
- Office Equipments
- Office Equipments (Computers)
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Name of the company |
GARGI HUTTERIES ALBERTUS PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Modification of
Charge/ Mortgage dated 24.04.2002 modified on 23.10.2006 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs 145.000
Millions |
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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 |
Modification of
Charge/ Mortgage dated 24.04.2002 modified on 23.10.2006 with increased total
limit to Rs 145.000 Millions |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
NA |
|
5) Name and Address and description of the person entitled to the charge. |
The Cosmos
Co-operative Bank Limited Chembur Branch,
Mumbai – 400071, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
23.10.2006 |
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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. |
NA |
|
Name of the company |
GARGI HUTTERIES ALBERTUS PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Agreement of
Mortgage/ Charge created on 20.11.2006 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs 30.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Agreement of
Mortgage/ Charge created on 20.11.2006 with Rs 30.000 Millions |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
NA |
|
5) Name and Address and description of the person entitled to the charge. |
Citi Bank N.A. Global Corporae
Banking, 1st Floor, Block F No C-61, Bandra East, Mumbai – 400051,
Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
20.11.2006 |
|
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. |
NA |
|
Name of the company |
GARGI HUTTERIES ALBERTUS PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Hypothecation of
Tangible Goods/ Movable Property dated 24.10.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs 5.000 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Stock and book-debts
lying at the borrower’s premises at D-360, TTC Industrial Area, Thane,
company’s property at D-360, TTC Industrial Area, Thane and the plant and
machinery located at the aforesaid premises and flat no 205, vasant vihar
complex, chembur, Mumbai |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 8.50
p.a. Facility :
Packing Credit |
|
5) Name and Address and description of the person entitled to the charge. |
The Cosmos
Co-operative Bank Limited Chembur Branch,
Plot No 208, ED-EL Building, Central Avenue, 11th Road, Chembur Mumbai – 400071,
Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
|
Name of the company |
GARGI HUTTERIES ALBERTUS PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Agreement of
Mortgage/ Charge on Book Debts, Movable property (not being pledge), Floating
charge created on 20.11.2006 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs 30.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The whole of
movable assets, including stocks of raw materials, goods in process of manufacture,
semi finished goods and all finished and manufactured goods and articles
together with all stores, components and spares which now belongs to and
pertains to or may hereafter from time to time during the continuance of this
security. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest The company shall pay interest to bank on
the principal amount of the aforesaid fund based facilities advanced and
outstanding from time to time with monthly rests on the last date of each
month in each year. The bank shall at any time or from time to time entitled
to change the rate of interest and notify such changes to the borrower. Margin Margin of
security of 32% against the said stocks and 40% against the book debts Extend and
operation of charge The borrower
hypothecated / charged the properties stated in Item No 14 by way of first
charge to and in favour of the bank for the credit facilities together with
interest, cost commission, costs, charges, expenses and all other monies
which are payable to the bank. |
|
5) Name and Address and description of the person entitled to the charge. |
Citi Bank N.A. Global Corporae
Banking, 1st Floor, Block F No C-61, Bandra East, Mumbai – 400051,
Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
20.11.2006 |
|
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. |
N.A. |
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.43.47 |
|
UK Pound |
1 |
Rs.85.36 |
|
Euro |
1 |
Rs.57.89 |
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 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|