MIRA
INFORM REPORT
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Report Date : |
15.05.2007 |
IDENTIFICATION DETAILS
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Name : |
FMC INDIA PRIVATE LIMITED |
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Registered Office : |
17 / 2, Palace Road, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.05.2003 |
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Com. Reg. No.: |
08-32004 |
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CIN No.: [Company
Identification No.] |
U02429KA2003PTC032004 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRF00776G |
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PAN No.: [Permanent
Account No.] |
AAACF4579N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Pesticides and other agro chemical products. |
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 500000 |
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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 and reputed company having satisfactory
track records. Directors are reported as
experience and respectable businessmen.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
17 / 2, High Grounds, |
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Tel. No.: |
91-80-22384311 / 22 |
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Fax No.: |
91-80-22385255 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Sartaj Sewa Singh |
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Designation : |
Managing Director |
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Name : |
Mr. Ram Narayan Vishwanathan Malarcode |
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Designation : |
Whole Time Director |
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Name : |
Ms. Soumitra Purkayastha |
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Designation : |
Whole Time Director |
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Name : |
Mr. Sunil Kohli |
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Designation : |
Director |
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Address : |
D- 21, Golden Enclave, |
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Date of Birth/Age : |
18.08.1961 |
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Date of Appointment : |
11.04.2006 |
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Name : |
Mr. Thomas Chadwick Wood |
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Designation : |
Additional Director |
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Address : |
87, |
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Date of Birth/Age : |
04.10.1960 |
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Passport No. : |
094857734 |
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Date of Appointment : |
11.04.2006 |
SHAREHOLDING PATTERN
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Particulars |
No. of Shares |
Percentage of
Holding |
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Foreign holdings (Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas corporate bodies or Others |
1,00,000 |
100.00 |
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Total |
1,00,000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Pesticides and other agro chemical products. |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
Maruthi Info-tech Centre, 11-12 / 1, Inner Ring Road, Koramangala, |
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Holding
Company : |
FMC Agricultural Products International AG, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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9,00,000 |
Equity Shares |
Rs.100.00 each |
Rs. 90.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,00,000 |
Equity Shares |
Rs.100.00
each |
Rs.10.000
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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10.000 |
10.000 |
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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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116.695 |
66.521 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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126.695 |
76.521 |
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LOAN FUNDS |
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1] Secured Loans |
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6.952 |
0.998 |
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2] Unsecured Loans |
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105.000 |
71.830 |
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TOTAL BORROWING |
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111.952 |
72.828 |
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DEFERRED TAX LIABILITIES |
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2.668 |
4.286 |
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TOTAL |
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241.315 |
153.635 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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36.902 |
31.798 |
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Capital work-in-progress |
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0.878 |
0.090 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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199.877 |
180.160 |
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Sundry Debtors |
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116.458 |
20.598 |
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Cash & Bank Balances |
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20.389 |
15.040 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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25.561 |
18.087 |
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Total
Current Assets |
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362.285 |
233.885 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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143.742 |
105.241 |
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Provisions |
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15.008 |
6.897 |
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Total
Current Liabilities |
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158.750 |
112.138 |
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Net Current Assets |
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203.535 |
121.747 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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241.315 |
153.635 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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830.764 |
561.313 |
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Other Income |
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28.577 |
35.928 |
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Total Income |
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859.341 |
597.241 |
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Profit/(Loss) Before Tax |
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79.765 |
37.087 |
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Provision for Taxation |
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29.591 |
11.489 |
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Profit/(Loss) After Tax |
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50.174 |
25.598 |
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Expenditures : |
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Financial Charges |
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11.990 |
10.520 |
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Depreciation & Amortization |
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13.815 |
9.714 |
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Other Expenditure |
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753.771 |
539.920 |
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Total Expenditure |
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779.576 |
560.154 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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5.84 |
4.29 |
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Net Profit Margin (PBT/Sales) |
(%) |
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9.60 |
6.61 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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19.98 |
13.96 |
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Return on Investment (ROI) (PBT/Networth) |
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0.63 |
0.48 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.14 |
2.42 |
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Current Ratio (Current Asset/Current Liability) |
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2.28 |
0.21 |
LOCAL AGENCY FURTHER INFORMATION
Transfer Company From Mumbai to KK. CLB 26.03.2003
Website details Attached:
FMC Corporation is one of the world’s
foremost, diversified chemical companies with leading positions in
agricultural, industrial and consumer markets. From their inception in 1883,
concern has been providing solutions to the world’s best companies and their
customers. Today, they use an array of advanced technologies in research and
development to improve the delivery of medications; enhance foods and
beverages; power batteries; protect crop yields, structures and lawns, and
advance the manufacture of glass, ceramics, plastics, pulp and paper, textiles
and other products.
Subject’s Spirit of Invention was born in 1883 when founder
John Bean created an innovative insecticide spray pump to combat scale, an
infestation that was ravaging
Today, concern continues changing lives as the innovative force behind industry and agriculture, where their products maintain leading market positions.
Subject is a
diversified chemical company serving agricultural, industrial and consumer
markets globally for more than a century with innovative solutions,
applications and quality products. The company employs approximately 5,000 people
throughout the world. The company operates its businesses in three segments:
Agricultural Products, Specialty Chemicals and Industrial Chemicals.
The
North American operations detailed here is but one of five operating units the
Agricultural Products Group has throughout the world. The others are
Asia-Pacific, Europe-Middle East-Africa, Latin America South and Latin America
North. Follow the links at the top of the page for contacts in other
parts of "The World" or to find out about other divisions on our
"Corporate Home Page."
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 41.93 |
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1 |
Rs. 81.20 |
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Euro |
1 |
Rs. 55.42 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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