MIRA INFORM REPORT
|
Report Date : |
29.03.2007 |
IDENTIFICATION DETAILS
|
Name : |
PARVEEN INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
Plot No. 32, Phase -II, Badli Industrial Estate, Delhi - 110 042,
India. |
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Country : |
India |
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Financials (as
on) : |
31.03.2005 |
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Date of
Incorporation : |
01.09.1960 |
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Com. Reg. No.: |
55-3290 |
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CIN No.: [Company
Identification No.] |
U74999DL1960PTC003290 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
DELP08355E |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturers of Oil Field Equipments and Accessories. |
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 |
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Maximum Credit
Limit : |
USD 1250000 |
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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 company having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered
Office : |
Plot No. 32, Phase -II, Badli Industrial Estate, Delhi - 110 042,
India. |
|
Tel. No.: |
91-11-27855468/ 20063882/ 27850008/ 27855468/ 27854612 |
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Fax No.: |
91-11-27857612/ 3626 |
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E-Mail : |
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Website : |
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Location : |
Industrial |
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Factory 1 : |
Plot No. 32, Phase -II, Badli Industrial Estate, Delhi - 110 042,
India. |
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Tel. No.: |
91-11-27855468/ 20063882/ 27850008/ 27855468/ 27854612 |
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Fax No.: |
91-11-27857612/ 3626 |
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E-Mail : |
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Location : |
Industrial |
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Factory 2 : |
Plot No. 33, Phase -II, Badli Industrial Estate, Delhi - 110 042,
India. |
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Tel. No.: |
91-11-27855468/ 20063882/ 27850008/ 27855468/ 27854612 |
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Fax No.: |
91-11-27857612/ 3626 |
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E-Mail : |
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Factory 3: |
R-55, MIDC, TTC Industrial Area, Thana
Belapur Road, Navi Mumbai - 400 701, Maharashtra, India. |
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Tel. No.: |
91-22-27690897/27694725/27640609/55905732 |
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Fax No.: |
91-22-55905731 |
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E-Mail : |
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Forging Plant : |
Plot No:- 459, EPIP, Kundli Industrial Estate, Kundli, Sonepat,
Haryana, India |
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Tel. No.: |
91-130-2372017/2372018/2371154
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Fax No.: |
91-130-2371154 |
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E-Mail : |
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International Sales Office : |
202, Rattan Jyoti Building, 18 Rajendra Place, New Delhi - 110 008,
India. |
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Tel. No.: |
91-11-25714775/25763992/25756420/25781927 |
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Fax No.: |
91-11-25763992 |
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E-Mail : |
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Sales Office Mumbai : |
11Q, Laxmi Industrial Estate, Off Veera Desai Road, Andheri (West), |
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Tel. No.: |
91-22-26362926/26367440/26329181/56923932 |
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Fax No.: |
91-22-26337240/ 26312553 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Prakash Kumar Mittal |
|
Designation : |
Director |
|
Address : |
65-A, Cozhi Home, Pali Hill, Bandra (West), Mumbai, Maharashtra, India
|
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Date of
Birth/Age : |
12.09.1951 |
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Date of
Appointment : |
23.06.1989 |
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Name : |
Mr. Prabhat Kumar |
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Designation : |
Director |
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Address : |
2-E, Kamla Nagar, New Delhi – 110 007, India |
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Date of
Birth/Age : |
16.11.1957 |
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Date of Appointment
: |
14.11.1995 |
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Name : |
Mr. Sanjiv Kumar |
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Designation : |
Director |
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Address : |
2-E, Kamla Nagar, New Delhi – 110 007, India |
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Date of
Birth/Age : |
13.10.1960 |
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Date of
Appointment : |
07.12.1987 |
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Name : |
Mr. Parveen Kumar Gupta |
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Designation : |
Director |
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Address : |
2-E, Kamla Nagar, New Delhi – 110 007, India |
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Date of
Birth/Age : |
12.09.1950 |
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Date of
Appointment : |
01.08.1999 |
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KEY EXECUTIVES
|
Name : |
Arora Jitender and Company |
|
Designation : |
Company Secretary |
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Email : |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
Mr. Parveen Kumar Mittal |
79988 |
16.00 |
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Mr. Prakash Kumar |
79888 |
15.98 |
|
Mr. Prabhat Kumar |
87988 |
17.60 |
|
Mr. Sanjiv Kumar |
88076 |
17.62 |
|
Ms. Neel Garg |
80 |
0.02 |
|
Ms. Rajni Gupta |
36960 |
7.39 |
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Ms. Veena Mittal |
36940 |
7.39 |
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Ms. Poonam Gupta |
36920 |
7.38 |
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Ms. Sunita Gupta |
36920 |
7.38 |
|
Mr. Mayank Gupta |
8000 |
1.60 |
|
Ms. Anshu Mittal |
8000 |
1.60 |
|
Mr. Pradip Kumar |
100 |
0.02 |
|
Ms. Promila Garg |
10 |
0.00 |
|
Mr. Manish Aggarwal |
10 |
0.00 |
|
Ms. Anshu K Aggarwal |
10 |
0.00 |
|
Ms. Padma Aggarwal |
10 |
0.00 |
|
Ms. Anjani Aggarwal |
100 |
0.02 |
|
Total |
500000 |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturers of Oil Field Equipment and Accessories. |
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Products : |
§
Oil Field Equipment §
Accessories |
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Exports to : |
USA, Canada, Kuwait, Brazil, Iran and other parts of the world. |
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GENERAL INFORMATION
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Bankers : |
§
Canara Bank, 3F, Kamla Nagar, New Delhi, India §
Indian Bank, Mumbai, Maharashtra, India §
ICICI Bank Limited §
Citibank NA §
ABN Amro Bank §
State Bank of India, Mumbai, Maharashtra, India §
Punjab National Bank §
Corporation Bank |
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Facilities : |
Packing Credit: Rs. 22.000 millions from Canara Bank. It is secured
against hypothecation of stocks and hypothecation of stocks of oil field
equipments and all other goods lying at Plot No. 32, Phase I, Badli
Industrial Area, Delhi, India. |
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|
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Banking
Relations : |
Satisfactory |
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Auditors : |
Surender K Aggarwal and Company Chartered Accountants |
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Address : |
I-2/ 16, Ansari Road, Darya Ganj, New Delhi 110 002, India |
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Tel. No.: |
91-11-23243913/ 5744 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
|
2] Reserves & Surplus |
150.000 |
130.000 |
100.000 |
|
|
3] Profit and Loss A/c |
170.578 |
145.325 |
121.116 |
|
|
4] Investment Allowance Reserve Utilized
A/c |
0.351 |
0.351 |
0.351 |
|
|
NETWORTH |
325.929 |
280.676 |
226.467 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
67.535 |
27.204 |
25.183 |
|
|
2] Unsecured Loans |
8.675 |
3.371 |
2.495 |
|
|
TOTAL BORROWING |
76.210 |
30.575 |
27.678 |
|
|
|
|
|
|
|
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TOTAL |
402.139 |
311.251 |
254.145 |
|
|
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APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net
Block] |
181.727 |
152.669 |
135.454 |
|
|
Capital
work-in-progress |
10.543 |
0.000 |
0.000 |
|
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|
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CURRENT ASSETS,
LOANS & ADVANCES |
|
|
|
|
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|
Sundry Debtors |
85.850
|
81.591 |
43.889 |
|
|
Cash & Bank
Balances |
8.134
|
9.315 |
25.722 |
|
|
Other Current
Assets |
162.872
|
108.254 |
63.803 |
|
|
Loans &
Advances |
72.830
|
38.538 |
35.317 |
|
Total Current Assets |
329.686
|
237.698 |
168.731 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
119.817
|
79.116 |
50.040 |
|
|
Total Current Liabilities |
119.817
|
79.116 |
50.040 |
|
|
Net
Current Assets |
209.869
|
158.582 |
118.691 |
|
|
|
|
|
|
|
|
TOTAL |
402.139 |
311.251 |
254.145 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2005 |
|
Sales Turnover [including other income] |
|
|
458.569 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
72.551 |
|
Provision for Taxation |
|
|
27.298 |
|
Profit/(Loss) After Tax |
|
|
45.253 |
|
|
|
|
|
|
Export Value |
|
|
318.413 |
|
|
|
|
|
|
Total Expenditure |
|
|
386.018 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2005 |
|
PAT / Total Income |
(%) |
|
|
9.87
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
15.82
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
13.90
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.22
|
|
|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
1.60
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.75
|
LOCAL AGENCY FURTHER INFORMATION
As Per Website :
The origin of business which now operates worldwide, could be tracked
back to the year 1960, when the family business in the name of Parveen
Industries Private Limited was founded to manufacture metallic conduits of
electric cables. In the year 1983 Parveen diversified in the manufacture of Oil
Field Equipment to cater to the needs of Oil Industry in India and today in a
span of 2 decades Parveen has grown to be a leader in the design, development
and manufacture of oil field equipment. Our name is synonymous with quality,
high precision machining and customer's satisfaction. Infact it is a one stop
shop for oil field equipment.
The evidence of Parveen in the manufacture of high quality oil field equipment has
led to it's worldwide recognition. Parveen's products have carved a niche not
only in India but in several countries abroad. Today Parveen has three plants
(one at Delhi and two in Mumbai) to manufacture oil field equipments while one
forge plant has recently been setup at Kundli, Haryana (near Delhi) to cater
for not only our internal requirements but also to cater for the needs of
domestic industry and for exports.
Organisation
The company believes in a sound organisation built on enduring principles
and practices, ethical business practices, commitment to the quality of
products and services and a high degree of professionalism in safeguarding the
interests of various stakeholders.
The board of Directors comprising of three Director's takes all critical
decisions for enhancement of the business. While one Director looks after the
badli plant at Delhi and also the corporate office, the other director is the
Chief Executive of the two plants located in MUMBAI, NEW MUMBAI and the third
director is the Chief Executive of Forge plant at Kundli, Haryana.
Each of the above plant is organised in a manner that while Production Manager
looks after the production as well as quality but Quality Control In-Charge who
does the regular quality audits in the plant on a day to day basis reports
directly to the Chief Executive.
As an organisation we would like to be benchmarked for our quality of
performance, professionalism and high standards on business practices.
Total Quality
Management
Total Quality Management
Quality admits
no comprises. For this purpose PARVEEN exercises strict control right from the
starting materials to various stages of manufacture and then through final
testing/acceptance tests before shipment. Equipments manufactured by PARVEEN
owes its high quality to manufacturing procedures, using CNC's for precision
machining giving accuracy and repeatability, procedures being suitably upgraded
to suit precision requirements of the items. Third party inspections are done
to suit the customers.
Indeed customer satisfaction has been a guiding principle at Parveen. This we
have achieved by providing quality goods at very competitive rates. Having
instituted Quality Assurance Programmes in various plants and carrying out
internal audits at regular intervals. Parveen today has not only ISO 9001
certification but has several API Monograms such as for products falling under
API 5CT, 5D, 5L, 6A, 6D, 7, 11AX, 11VI, 16A & 16C and authorized API
Licensce.
Parveen's Quality Assurance Standards being independently audited
and qualified to ISO 9001: 1994 by DNV, Netherlands (For Badli Plant, Delhi)
& by International Certifications Services (ASIA) Pvt Ltd. (For Navi Mumbai
Plant)
Parveen is also authorized API Licensce to apply API Monograms on following API
Specifications.
Products
§
Cementing
Equipments
§
Choke
and Kill System
§
Coil
Tubing Pressure Control Equipment
§
Fishing
/ Down Hole Tool
§
Flanges
and Pipe Fitting
§
Forgings
and Castings
§
Gas
Lift Equipments
§
Logging
Tools
§
Rotary
Drilling Equipments
§
Sub
Surface Flow Control
§
Sucker
Rod Equipment
§
Tubulars
§
Valves
and Chokes
§
Well
Head and Christmas Tree Equipments
§
Wire
Handling and Pressure Control Equipment
§
Wireline
Service Tools
Quality admits no
compromises. For this purpose PARVEEN exercises strict control right from the
starting materials to various stages of manufacturing and then through final
testing/acceptance test before shipment. Equipments manufactured by PARVEEN
owes its high quality manufacturing procedures , using CNC's for precision machining
giving accuracy and repeatability, procedures being suitable upgraded to suit
precision requirements of the items. Third party inspections are done to suit
the customers.
Indeed customers
satisfaction has been a guiding principles at PARVEEN. This we have achieved by
providing quality goods at very competitive rates. Having instituted Quality
Assurance Programmes in various plants and carrying out internal audits at
regular intervals, PARVEEN today has not only ISO 9001 certification but has
several API monograms such as for products falling under API 5CT, 5D, 5L, 6A,
6D, 7, 11AX, 11VI, 16A & 16C.
Parveen exclusively manufactures
oil field equipments in India.
Engineering, Research and
Development :
The design and
development of products is carried out by a team of qualified & experienced
personnel. Parveen uses today CAD/CAM to design/manufacture the products to
International Standards and have inhouse facility for doing the same work.
Except for Gas Lift Equipments which were manufactured in technical
collaboration with Teredyne Merla of USA, all other items have been developed
with our own R&D effort. Even in Gas Lift Equipment, the collaboration for
which having elapsed in 1997, we have done lot of improvements/modifications
with our own R&D effort and with the help of IOGPT(Institute of Oil &
Gas Production Technology) at Panvel, Mumbai, India and this improvement
process is still continuing.
Parveen has designed products upto 20,000 PSI pressure rating with unique
Inhouse Testing Equipment. Special type of components with higher pressure
rating can be designed to suit customer specifications.
Achievements
|
Certificates |
For Plant |
Product / Services |
|
Badli, Delhi |
Line Pipe Couplings |
|
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Processor of Line Pipe Plain End at PSL 1 |
||
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Processor of Line Pipe Plain End at PSL 2 |
||
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Processor of Line Pipe Threaded and Coupled |
||
|
Threader |
||
|
Badli, Delhi Navi Mumbai |
Casing & Tubing Pup Joints |
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Casing & Tubing Connectors |
||
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Casing & Tubing Couplings |
||
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Casing & Tubing Accessories |
||
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Processor of Casing & Tubing Plain End |
||
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Processor of Casing & Tubing Thread and Coupled at
Groups 1, 2, 3 and 4 |
||
|
Threader |
||
|
Badli, Delhi Navi Mumbai |
Manufacture/Repair of Flanged Connections |
|
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Threaded Connections |
||
|
Valves |
||
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Casing & Tubing Heads |
||
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Casing & Tubing Hangers |
||
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Tubing Head Adapters |
||
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Chokes |
||
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Tee & Crosses |
||
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Fluid Sampling Devices |
||
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Crossover Connectors |
||
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Adapter & Spacer Spools |
||
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Top Connectors |
||
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Flanged Connectors |
||
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Threaded Connectors |
||
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Other End Connectors |
||
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Ring Joint Gaskets at PSL 1 through 3 |
||
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Back Pressure Valve (PSL not applicable) |
||
|
Bullplugs (PSL not applicable) |
||
|
Surface & Underwater Safety Valve at PSL/RL 1 through
4 |
||
|
Repair of Actuators at RL 1 through 4 |
||
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Ring Joint Gaskets at PSL 1 through 4 |
||
|
Badli, Delhi |
Gate Valves |
|
|
Plug Valves |
||
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Ball Valves |
||
|
Check Valves |
||
|
Badli, Delhi Navi Mumbai |
Kelly Valves |
|
|
Kellys |
||
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Tool Joints |
||
|
Drill Stem Subs |
||
|
Drill Collars |
||
|
Threading for Rotary Shouldered Connections |
||
|
Navi Mumbai |
Polished Rods |
|
|
Stuffing Box & Pumping Tees |
||
|
Sinker Bars |
||
|
Threads |
||
|
Badli, Delhi |
Gas Lift Equipment |
|
|
Reverse Flow (Check) Valves |
||
|
Orifice Valves |
||
|
Dummy Valves |
||
|
Wireline Retrievable Valve Mandrels |
||
|
Navi Mumbai |
Lock Mandrels at V3 through V1 |
|
|
Landing Nipples at V3 and V2 |
||
|
Navi Mumbai |
Manufacture/Repair/Remanufacture of Ram BOP |
|
|
Annular BOP |
||
|
Drilling Spools |
||
|
Adapters |
||
|
Loose Connections |
||
|
Manufacture of Ram Blocks |
||
|
Packers |
||
|
Top Seals |
||
|
Badli, Delhi |
Articulated Choke and Kill Lines |
|
|
Union Connections |
||
|
Rigid Choke and Kill Lines |
||
|
Swivel Joints |
||
|
Choke and Kill Manifold Assemblies |
||
|
Type Approval Certificate-D2431 |
Badli, Delhi |
2" Fig. 1502 Hammer Union Butt Weld Ends |
|
2" Style 50 Long Sweep Joint w/ fig. 1502 M x F
Hammer Union Ends |
||
|
2" 10 ft Straight Pipe Integral (Welded &
Non-welded) w/ fig. 1502 M x F Hammer Union Ends |
||
|
2" Tee Integral w/ fig. 1502 M x F Hammer Union Ends |
||
|
2" Plug Valve w/ fig. 1502 M x F Hammer Union Ends |
||
|
ISO 9001:2000 ISO 9001:2000 |
Badli, Delhi |
Design, Development, Manufacture, Sales and Service of Oil
Field Equipments Such as: - |
|
Gas Lift |
||
|
Subsurface Flow Control |
||
|
Down Hole Completion, |
||
|
Wireline Pressure Control |
||
|
Choke & Kill Lines |
||
|
Well Head |
||
|
Rotary Drilling |
||
|
Wireline Tools |
||
|
Down Hole Tools |
||
|
Fishing Tools |
||
|
X-Mas Trees |
||
|
Flanges & Fittings |
||
|
Gate & Plug Valves |
||
|
Unions |
||
|
Swivel Joints |
||
|
Cementing Head |
||
|
Line Pipes |
||
|
Casing Tubing |
||
|
Quad BOP's |
||
|
Tubing & Strippers |
||
|
ISO 9001:2000 |
Kundli, Haryana |
Design, Development, Manufacture, Sale of Forged Steel |
|
Components for Oil Field Equipment and other Industrial |
||
|
applications. |
In addition, Parveen are members of the ASME, ASTM, NACE, API which
ensures that we are always upto date with the latest standards and technical
documents. Parveen in a span of 2 decades has won several awards from Ministry
of Industry Govt. of India, Delhi Govt. and also from private firms dealings
with oil industry. Some of the achievements are enumerated below:-
|
TYPE OF AWARD/CERTIFICATION |
BY |
REASONS |
|
1.For Safe & Effecient Practices. |
Managing Director Enron Oil & Gas India Ltd |
Joint Venture Operations between PARVEEN and ENRON for providing
equipment & services for PANNA/MUKTA & TAPTI Phase-I work programme
During April 1996 to March 2001. |
|
2.State Award for Export Excellence |
Commissioner of Industries, Delhi Govt of National Capital Territory
of Delhi. |
Exports during Year 2000 - 2001. |
|
3.Award for Export Excellence. |
Govt. of Delhi. |
Exports during Year 1998 - 1999. |
|
4.All India Trophy for Highest Exporters in Category of Exports to
New Difficult Markets. |
Chairman Engineering Export Promotion Council. |
Exports during Year 1998 - 1999. |
|
5.Award for Export Excellence. |
Chairman Engineering Export Promotion Council. |
Exports during Year 1997 - 1998. |
|
6.Award for Export Excellence. |
Govt. of Delhi. |
Exports during Year 1997 - 1998. |
|
7.Award for Export Excellence. |
Govt. of Delhi. |
Exports during Year 1996 - 1997. |
|
8.Certification of Export Excellence |
Regional Chairman, Engineering Export Promotion Council (North
Region) |
Outstanding Export Performance for Year 1994 - 1995. |
|
9.Certification of Export Excellence |
Regional Chairman, Engineering Export Promotion Council (North
Region) |
Outstanding Export Performance for Year 1993 - 1994. |
|
10.National Award For Import Substitution |
By Ministry of Industry, Govt. of India, New Delhi |
Indigenous Developing of Casing Scraper For Oil Wells 1989 - 1990. |
|
11.State Award for Export |
Commissioner of Industries, Delhi State Govt. |
Outstanding Exports during Year 1985 - 1986, 1986-1987 & |
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.43.59 |
|
UK Pound |
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.58.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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 |
|