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MIRA
INFORM REPORT
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Report Date : |
25.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
EASTMAN EXPORTS
GLOBAL CLOTHING (PRIVATE) LIMITED |
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Formerly known as : |
COTTON CANDY
PRIVATE LIMITED |
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Registered Office : |
16-17 Kumaran
Nagar (South) Tirupur 641603, Tamilnadu |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
26.03.2003 |
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Com. Reg. No.: |
18-10525 |
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CIN No.: [Company
Identification No.] |
U18101TZ2003PTC010525 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBC03790D / CMBE03291B |
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PAN No.: [Permanent
Account No.] |
AACCC0952E / AAAFE6670L |
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Legal Form : |
Private limited
liability company |
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Line of Business : |
Manufacturer,
importers, exporters and traders of knitwears and wovenwears constitute a
minor portion of its exports. Knitwears include T-shirts, Polos, Pyjamas
etc., while woven wears comprise of Bermudas, Shirts, Workwears etc |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
USD 1890000 |
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|
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Although, subject
is a new company, it is backed by well known, experienced and resourceful
promoters. Their trade relations are fair. The group is doing well. Payments
are correct and as per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
16-17 Kumaran
Nagar (South) Tirupur 641603, |
|
Tel. No.: |
91-421-2249298 /
2249296 |
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Fax No.: |
91-421-2247288 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
30-35, |
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Tel. No.: |
91-421-2249298 / 2249296 |
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Fax No.: |
91-421-2247288 |
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E-Mail : |
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Area : |
50000 Sq. ft - Owned |
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Corporate
Office : |
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Tel. No.: |
91-424-2292682 / 2292683 (subscribers from Tamilnadu can use 95454-2292682/683) |
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Fax No.: |
91-421-2247288 |
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E-Mail : |
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Area : |
30000 Sq. ft - Owned |
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Factory 1 : |
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Tel. No.: |
91-4294-225372 / 73 |
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Fax No.: |
91-421-2247288 |
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E-Mail : |
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Area : |
50000 Sq. ft - Owned |
DIRECTORS
|
Name : |
Mr. N Chandran |
|
Designation : |
Managing Director
|
|
Address : |
16-17 Kumaran
Nagar (South) Tirupur 641603, |
|
|
|
|
Name : |
Mr. N Palanisamy |
|
Designation : |
Director |
|
Address : |
16-17 Kumaran Nagar
(South) Tirupur 641603, |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
|
No. of Shares |
|
Mr. N Chandran |
|
500 |
|
Mr. N Palanisamy |
|
500 |
|
Total |
|
1000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
importers, exporters and traders of knitwears and wovenwears constitute a
minor portion of its exports. Knitwears include T-shirts, Polos, Pyjamas
etc., while woven wears comprise of Bermudas, Shirts, Workwears etc |
PRODUCTION STATUS
|
Particulars |
Installed Capacity |
Actual Production |
|
Garments
|
80000 per day |
Utilizing full
production and if orders exceed they get them produced in various
supplementary factories situated all over Tirupur |
|
Underwear |
160000 per day |
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|
Knitted garments |
35000 per day |
GENERAL INFORMATION
|
Customers : |
Wholesalers and
Retailers |
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|
|
|
No. of Employees : |
Total 1075 :- in
Office 25 + in factory 1050 |
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|
|
|
Bankers : |
State bank of ING Vysya Bank
Limited 22, UTI Bank Limited Trishul 3rd
Floor, Centurion Bank of
Punjab Limited IDBI Bank Limited |
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|
|
|
Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
|
|
Name : |
Mr. R. Ananthan Chartered Accountants |
|
Address : |
Railway |
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Associates/Subsidiaries : |
Ř
Eastman
Spinning Mills Private Limited, Tirupur, Tamil Ř
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1100000 |
Equity Shares |
Rs. 100/- each |
Rs. 110.000 Millions |
|
50000 |
Preference Shares |
Rs. 10/- each |
Rs. 0.500 Millions |
|
|
Total |
|
Rs. 110.500
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1099934 |
Equity Shares |
Rs.
100/-each |
Rs. 109.993
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
109.993 |
64.200 |
|
|
2] Share Application Money |
|
0.000 |
25.070 |
|
|
3] Reserves & Surplus |
|
363.031 |
22.529 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
473.024 |
111.799 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
558.864 |
90.709 |
|
|
2] Unsecured Loans |
|
148.506 |
137.274 |
|
|
TOTAL BORROWING |
|
707.370 |
227.983 |
|
|
DEFERRED TAX LIABILITIES |
|
107.766 |
16.955 |
|
|
|
|
|
|
|
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TOTAL |
|
1288.160 |
356.737 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
|
839.114 |
165.859 |
|
|
Capital work-in-progress |
|
8.076 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
8.325 |
3.050 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
870.732 |
8.980 |
|
|
Sundry Debtors |
|
777.384 |
180.261 |
|
|
Cash & Bank Balances |
|
37.067 |
12.832 |
|
|
Other Current Assets |
|
118.292 |
7.139 |
|
|
Loans & Advances |
|
386.028 |
10.767 |
|
Total
Current Assets |
|
2189.503 |
219.979 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
1712.692 |
36.337 |
|
|
Provisions |
|
47.625 |
1.746 |
|
Total
Current Liabilities |
|
1760.317 |
38.083 |
|
|
Net Current Assets |
|
429.186 |
181.896 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
3.459 |
5.932 |
|
|
|
|
|
|
|
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TOTAL |
|
1288.160 |
356.737 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
|
Total Income |
|
|
4503.836 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
450.221 |
|
|
Provision for Taxation |
|
|
154.548 |
|
|
Profit/(Loss) After Tax |
|
|
295.673 |
|
|
|
|
|
|
|
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Imports : |
|
|
|
|
|
|
Capital Goods and Spares |
|
|
109.512 |
|
|
Imports of Accessories |
|
|
84.502 |
|
|
Others |
|
|
161.160 |
|
Total Imports |
|
|
355.174 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
|
|
62.210 |
|
|
Depreciation & Amortization |
|
|
86.947 |
|
|
Other Expenditure |
|
|
3755.301 |
|
Total Expenditure |
|
|
3904.458 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
6.56 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
9.99 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
14.86 |
NA |
|
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|
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.95 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
5.22 |
2.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.24 |
5.78 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
COTTON CANDY PRIVATE LIMITED |
|
Presented
By |
COTTON CANDY PRIVATE LIMITED AND STATE BANK OF |
|
1) Date and description of instrument creating the change |
09/07/2004 Mortgage by deposit
of title deeds on the leasehold rights held by the company on the immovable
properties on the 09.07.2004. [Letter evidencing deposit of title deeds is
enclosed] |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 15.800
Millions by way of a term loan. |
|
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 |
Lease hold rights
held by the company on the immovable properties owned by East – Sf. No.
593 West – Sf. No.
588 South – sf. No.
Part of 587 and North – Sf. No.
586 And the building
to the constructed thereon. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
is at 9.75 & p.a. The term loan is
repayable in 20 quarterly installments as per the following manner : For the year
2005-06 of Rs. 0.2 Millions each for the 4 quarterly installments. For the year 2006-07of
Rs. 0.2 Millions each for the next 4 quarterly installments. For the year
2007-2008 of Rs. 1.160 Millions each for the next 4 quarterly installments.
For the year 2008-09 of Rs. 1.16 Millions each for the next 4 quarterly
installments. For the year 2009-2010 of Rs. 1.225 Millions each for the next
4 quarterly installments. Margin 25 % The charge
operates as security for the due repayment of all liabilities in respect of
the aforesaid limits including costs, charges and expenses and all other monies
due to the bank under the aforesaid agreements. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of Local Head Office
Chennai Branch office Overseas Branch,
No. 13 and 13 -1, Munsif Srinivasapuram, |
|
6) Date and brief description of instrument modifying the charge |
Nil |
|
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. |
Nil |
|
Corporate
identity number of the company |
U18101TZ2003PTC010525 |
|
Name of the
company |
EASTMAN EXPORTS
GLOBAL CLOTHING (PRIVATE) LIMITED |
|
Address of the registered
office or of the principal place of
business in |
16-17 Kumaran
Nagar (South) Tirupur 641603, Tamilnadu |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property Floating charge |
|
Particular of
charge holder |
UTI Bank Limited Trishul 3rd
Floor, |
|
Nature of
instrument creating charge |
Composite
Hypothecation Deed |
|
Date of
instrument Creating the charge |
18.12.2006 |
|
Amount secured by
the charge |
Rs. 185.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit : PLR
minus 3.25 % Presently 9.75 % p.a. payable monthly export packing credit /
foreign bills purchased / discounted: PLR minus 3.75 % Presently 9.25 % p.a.
payable monthly Term of repayment Repayable on
demand Margin Raw materials,
stock n process, finished good and packing materials, stores and spares and
book debts with cover period 90 days : 25 % Book debts : 35 %
Export packing
credit 25 % Extent and
operation of the charge : The charge
created to way of hypothecation operates as a continuing security for the dye
repayment and discharge of credit facilities to the bank as mentioned in the
composite hypothecation deed attached hereto. |
|
Short particulars
of the property charged |
All tangible
movable machineries, plant and machinery, Fixture fittings other
installation, cranes, furniture, computers and other accessories, vehicles
together with spares tools and accessories, whole of the movable goods and
assets and book debts and of the spinning Division of the company are charged
in favour of the bank. |
|
Particulars of
the present modification |
Cash credit limit
enhanced from Rs. 17.500 Millions to Rs. 35.000 Millions and fresh facilities
viz-Export packing credit / foreign bills purchased / foreign bills
discounted aggregating at Rs. 150.000 Millions sanctioned, thus making the
overall credit facilities to Rs. 185.000 Millions |
Amalgamation and Name
Change :
As a part of the group restructuring exercise flagship concern of the group Eastman Exports, a Partnership Concern, was converted into a Private Limited Company on 01.04.2005. the Successor company was one of the transferor companies in the scheme of arrangement and approved by Honorable High Court of Madras vide its order dated 30.09.2005. the appointed date for the said amalgamation was also 01.04.2005. Consequently, the financials of the current year represents the consolidated operations of Cotton Candy Private Limited (CCPL) along with Eastman Exports Global Clothing Private Limited (Successor company of Eastman Exports) and Eastman Apparels Private Limited.
In the same scheme CCPL being the transferee company has opted for a name change as Eastman Exports Global Clothing Private Limited.
“Eastman” is
splendidly steered by the combined vision, energy and acumen of technocrat
brother Mr. Mr. N.
Palaniswamy, the chairman and Mr.N.Chandran, the Managing Director. The modest growth form the time of inception to the current business
volume of US$ 130 Million per Annum is a complete testimony to the clarity of
vision and the quantum of energy that propels the company.
The day to day working of the
company has been departmentalized into various sections for optimum efficiency.
Sampling and
Development
Merchandising
Purchase
Production
Quality
Assurance
Logistic
Finance and
Administration
Human Resources
Compliance and
Social Management
Information
Systems
This is a part of the Eastman Exports group set up in 1983,
and this new company has been registered in 2005 to handle the same manufacture
and exports of garments that the group is engaged in. This new incorporation is due to corporate
reasons and is a part of the Eastman exports.
Since the ROC at
- Eastman
Apparels Private Limited – Registration Number 9641
- Eastman
Clothing Company Private Limited – 8455
- Eastman
Design Solutions Private Limited – 10713
- Eastman
Exports Private Limited – 8644
- Eastman
Garments Private Limited – 8454
- Eastman
Global Brand India Private Limited – 011298
- Eastman
Global And Design Solutions P Limited – 10712
- Eastman Knit
Processing Private Limited – 8645
- Eastman
Processing Mills Private Limited – 2424
- Eastman
Spinning Mills Private Limited
Eastman Exports, set up in 1983,
is a “Government
Recognized Three Star Trading House”, engaged in the business of exporting garments to various
countries across the globe. The company is located in Tirupur town, the hub of Indian knit garment industry near the textile
city of
Thanks to the
esteemed customers, the company is granted
the status of “Govt. Recognized Star Trading House”.
This prestigious status has been granted based on the export turnover, the
company has achieved & ISO series of certifications, the company has
obtained towards its commitment to quality and environment.
They are one of the customers to
M/s. Dun & Brad Street, world's leading provider of business information.
Their D&B D-U-N-S®
Number : 86-228-6721 The information about
them in their data base will no doubt,
increase the trust and confidence on them
in global business.
Eastman
Exports is certified for ISO 9001 : 2000 and ISO 14001 : 1996 towards its
excellent Quality Management System and Environmental Management System
respectively. Further, the company is certified for Oeko-Tex Standard – 100
towards complying with the human ecological requirements and thus has earned
the right to use the Oeko-Tex mark on its products.
Adding another feather to its cap, the company has also earned the right to use
eco-label in its products for
manufacturing in an environment friendly way.
The
company is constituted by the enterprising technocrat brothers Mr. N. Palaniswamy and Mr. N. Chandran. Mr.N.Palaniswamy,
the Chairman has provided the vision behind the growth of Eastman Exports,
while Mr.N.Chandran, the Managing Director has provided the energy for its
propulsion to the heights that Eastman Exports has attained till date.
Their product range includes
Ř
Ladies and Girls cardigans
Ř
Ladies and Girls skirts
Ř
Mens, ladies hooded T
shirts
Ř
Mens, ladies, girls, boys babies shorts
Ř
mens, ladies, boys, girls pyjamas
Ř
Girls ensembles
Ř
Ladies and girls blouses
Ř
Mens, boys Polo shirts
Ř
Mens, ladies, boys, girls underwears
Ř
mens, ladies, girls, boys boxer shorts
Ř
mens, ladies, girls nightwear
Ř
ladies and girls leggings
Labels for whom production is done and
labeled
Ř
J C
Penny
Ř
Tommy
Hilfiger
Ř
Nike
Ř
Guess
Ř
Wal-Mart
Ř
Wal-mart-
Ř
Zellers
–
Ř
The Bay
–
Golf Apparel
Ř
Bill
blazz
Ř
Larry
Nize
Ř
Steeve
Sticker
Ř
Raymond
Floyd
Ř
PNE-
Payne Stewar
Ř
TSL
Ř
H &
M ( Hennes and Mairitz) AB
Ř
C &
A
Ř
EPA Ag
Ř
Ř
Ř
Lee
Halle
Ř
Ř
Makra
Ř
Ahold
Ř
Kaufhalle
Ř
Casino
Ř
Kaufhof
Ř
Metro
cash and carry
Ř
Ernstings
family
Ř
K+L
Ruypert
Ř
Mon
Ř
Diesel
Stores
Ř
Ř
Western
Stores
Ř
Ř
Jean
Pascal, Germanyt
Ř
Mothercare
Ř
Woolworth
Ř
Ř
Siso
Textil
Ř
Dunnes
Stores
Ř
Carrefour
And many others
Subject exports all
types Knitted garments and imports capital goods, machinery and other
accessories
Group Turnover of
March 2004 : Rs. 3500.000 millions
Projected Turnover
for Current Year (2004-05) : Rs.3500 millions
Eastman
Exports group is one of
Eastman Exports was established in 1983
by two brothers Mr. N. Palaniswamy and Mr. N. Chandran. The company commenced
its exports to U.S.A first, but rapidly expanded its customer zones to Europe,
These accomplishments stands as a testimony to the clear
foresight, dynamic leadership and innovative spirit of the enterprising
brothers and the total dedication of it's employees.
Under
the diverse business activities related to garments the pragmatic brothers
promoted the Dye house in the late seventies which still has the pride of being
one of the best in the industry for quality dyeing . Their long time vision saw
them modernizing the India Dyeing Mills Private Limited, with latest
technology and the promotion of Eastman Spinning Mills Private
Limited Keeping in mind that it’s the apparel that often proclaims
the man and to the tune of the ever-changing trend in fashions , the company
produces T-shirts,Polos, Co-ordinates, nightwares, active garments(sports
with specialization in classic polos for golf lines) thus catering to all
requirements of all age groups.
The use
of state of the art technology has played a vital role in the company’s
run of success, giving it an edge over the others in producing quality goods
and producing it in time. The company has an integrated vertical set up
of spinning, knitting, yarn dyeing, garment washing (stone) plant,
Printing (computerized T-shirts printing) Rotary printing, computerized
embroidery, compacting, elastic(narrow fabric), stentering and fully Jacquard
machines.
The
company's production volumes are - T-shirts / Polos (about 60,000 pieces per
day) and Co-ordinates/ Nightwears / Active Garments (Sports) /Underwear
(about 160,000 pieces per day).
Eastman
Exports has consistently won prestigious awards from the Clothing
Mnaufactures Association of India Apparel promotion council of
The company has
also received SA 8000:2001 Certificate from Det Norske Veritas and certificate
of compliance from American Apparel & Footwear Association.
The company has
received awards from the following apex bodies:-
> AEPC [Apparel Exporters Promotion
Council]
> CMAI [Clothing Manufactures
Association of
> CIAE [Confederation of Indian Apparels
Exporters]
> FIEO [Federation of Indian Export
Organisation]
> Indo-German Chamber of Commerce Award
It is in trade
terms with :
> JC Penny
> Tommy Hilfiger
> Nike
> The Gap
> Guess
> Wal-Mart
>
>
> The Bay,
> Bill Blass
> Larry Mize
> Steeve Sticker
> Raymond Floyd
> PNE-Payne Stewar
> TSR
> H & M [Hennes & Mairitz] AB
> C&A
> EPA Ag
>
> Lindex AB,
> Marca
> K+L Ruppert
> Diesel Stores
> Western Stores
> Jean Pascale -
> E Leclerc
> Woolworth
> Siso Textile
> La
> Makro
> Ahold
> Kaufhalle GmbH
> Casino
> Kaufhof
> Metro Cash & Carry
> Ernstings’ Family
> Mon
>
>
>
> Dunnes Stores
> Carrefour
> Adler Edel
>
> Migros Stores
>
>
>
> Gap, The
> Coop Italia
> Briffeuil
>
> Ellos AB
> Kik Textiles
> Mackays Stores
> Rhone
> Ahold
> Cora
>
>
> Gruppu Erosk
> Veti Marche
> Inter
> Mapom
> Gruppo Coin
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.57 |
|
|
1 |
Rs.80.64 |
|
Euro |
1 |
Rs.54.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
TOTAL |
|
61 |
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 |
|