MIRA INFORM
REPORT
|
Report
Date : |
25.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
SAMSONITE
SOUTH ASIA PRIVATE LIMITED |
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|
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Formerly
Known As: |
SAMSONITE
INDIA PRIVATE LIMITED |
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Registered
Office : |
Gat Nos.
159 to 163, Mumbai- Nashik Highway, Nashik Village-Gonde (Dumala), Igatpuri, Maharashtra,
India |
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Country
: |
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Financials
(as on) : |
31.12.2005 |
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Date
of Incorporation : |
08.11.1995 |
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Com.
Reg. No.: |
11-94287 |
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CIN
No.: [Company
Identification No.] |
U19120MH1995PTC094287 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
NSKS02903F |
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Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
The Company is engaged in manufacture, purchase, sale and distribution
of travel good such as suitcases, briefcases and accessories in the domestic
and export market. |
RATING
& COMMENTS
|
MIRA’s
Rating : |
Ba |
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
1800000 |
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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 part of SAMSONITE Group worldwide. Available
information indicates high financial responsibility of the company. Trade
relations are fair. 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 : |
Gat Nos.
159 to 163, Mumbai- Nashik Highway, Nashik Village-Gonde (Dumala), Igatpuri,
Maharashtra, India |
|
Tel.
No.: |
91-2553-225131/32/34 |
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Fax
No.: |
91-2533-
225133 |
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Factory
1 : |
Village Gonde (Dumala), District-Nashik, |
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Tel.
No.: |
91-2553-225131,32,34,35 |
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Fax
No.: |
91-2553-225133 |
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Factory
2 : |
Tainwala House, |
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Tel.
No.: |
91-22-228219171, 228350388 |
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Fax
No.: |
91-22-228352510 |
DIRECTORS
|
Name : |
Mr. Marc Marie Bertrand Robert Matton |
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Designation
: |
Chairman cum Managing Director |
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Address
: |
Marlbouroughstraat, 12, 9630, |
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Date
of Birth/Age : |
12.02.1949 |
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Date
of Appointment : |
01.04.2003 |
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Name : |
Mr. Mahesh S Makhijani |
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Designation
: |
Whole time Director and Company Secretary |
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Address
: |
5A, Space Venus, Mahatma Nagar, Nashik-422005, |
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Date
of Birth/Age : |
26.01.1959 |
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Date
of Appointment : |
15.05.2006 |
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|
|
|
Name : |
Mr. Mukund B Khadilkar |
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Designation
: |
Whole time Director |
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Address
: |
Shree Apartments, 56, Samarth Nagar, Nashik-422005, |
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Date of
Birth/Age : |
18.08.1949 |
|
Date
of Appointment : |
31.05.2005 |
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|
|
|
Name : |
Dr. Ramesh Tainwala |
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Designation
: |
Chief Operating Officer |
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Date
of Birth/Age : |
46 years |
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Date
of Appointment : |
8th November, 1995 |
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|
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|
Name : |
Mr. Marcello S Bottoli |
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Designation
: |
Director |
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Address
: |
Belforts Street, 18/E, 9000 Gent 9000, |
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Date
of Birth/Age : |
05.01.1962 |
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Date
of Appointment : |
16.04.2004 |
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Name : |
Mr. Shashi S Dash |
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Designation
: |
Director |
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Address
: |
32, |
|
Date
of Birth/Age : |
03.10.1943 |
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Date
of Appointment : |
10.07.1997 |
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|
Name : |
Mr. Patrick A Baele |
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Designation
: |
Director |
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Address
: |
Markette 4A, 9688, |
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Date
of Birth/Age : |
15.01.1957 |
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Date
of Appointment : |
01.06.2000 |
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|
|
|
Name : |
Mr. Rajendra V Agarwal |
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Designation
: |
Director |
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Address
: |
408, Shantivan, 2-B, |
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Date
of Birth/Age : |
19.09.1962 |
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Date
of Appointment : |
31.05.2000 |
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|
Name : |
Mr. Paul J Melkebeke |
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Designation
: |
Director |
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Address
: |
Diepstraat, 14-9860, |
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Date
of Birth/Age : |
23.06.1959 |
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Date
of Appointment : |
07.03.2003 |
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Date
of Ceasing : |
25.06.2004 |
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|
|
|
Name : |
Mr. Willy M Vanslembrouck |
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Designation
: |
Director |
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Address
: |
Watervallestreet, 52 B-8480, |
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Date
of Birth/Age : |
29.09.1945 |
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Date
of Appointment : |
10.09.2003 |
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Date
of Ceasing : |
02.12.2004 |
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|
|
Name : |
Mr. Paul J Melkebeke |
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Designation
: |
Director |
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Address
: |
Diepstraat, 14-9860, |
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Date
of Birth/Age : |
23.06.1959 |
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Date of
Appointment : |
07.03.2003 |
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Date
of Ceasing : |
25.06.2004 |
MAJOR
SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Ramesh D Tainwala |
1802020 |
|
Samonite
Mauritius Limited |
21294740 |
|
Tainwala
Chemicals & Plastics India Limited |
3069873 |
|
Tainwala
Personal Care Products Private Limited |
1795000 |
|
Tainwala
Holdings Private Limited |
556000 |
|
Tainwala Trading
and Investment Company Private Limited |
2189000 |
|
Tainwala
Gangadhar Dungarmal |
1433000 |
|
Mr.
Rajkumar D Tainwala |
226600 |
|
Ms.
Shobha R Tainwala |
5000 |
|
Katyayan
Constructions & Developers Private Limited |
2500000 |
|
Amishi R
Tainwala |
620000 |
|
Concept
Realty & Securities Limited |
1236500 |
|
Concept
Realty & Securities Limited |
620000 |
|
Tainwala
Holdings Private Limited |
688000 |
As on 31.03.2006
|
Names
of Shareholders |
|
Percentage of Holding |
|
Foreign
holdings |
|
60.00 |
|
Bodies
Corporate |
|
28.49 |
|
Others |
|
11.51 |
|
Total |
|
100.00 |
BUSINESS
DETAILS
|
Line
of Business : |
The Company is engaged in manufacture, purchase , sale and
distribution of travel good such as suitcases, briefcases and accessories in
the domestic and export market. |
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Products
: |
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PRODUCTION STATUS
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Particulars |
|
Unit |
Licensed Capacity |
Installed Capacity |
|
Luggage |
|
Nos. |
Delicenced |
312,000 |
GENERAL
INFORMATION
|
Bankers
: |
v State Bank of v ICICI Banking Corporation Limited,
Mumbai v Indusind Bank Limited, Mumbai |
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Facilities: |
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Banking Relations : |
Good |
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Auditors
: |
BSR and Company Chartered Accountants KPMG House, Kamala Mills Compounds, 448, Senapati Bapat Marg,
Lower Parel, Mumbai-400013, |
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Tel.
No.: |
91-22-24913030, 3131, 91-22-24988368 |
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Fax
No.: |
91-22-24913132 |
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Associates/Subsidiaries
: |
Ø Samsonite Corporation, Ø Samsonite Mauritius Limited Ø Samsonite Ø Samsonite Asia Limited –Hongkong Ø Samsonite SA de CV Ø Samsonite Ø Samsonite Ø Samsonite Ø Samsonite Ø Longberg Express S A Ø Samsonite |
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|
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Joint
Venture: |
Ø Taiwala Chemicals and Plastics
Limited Ø Taiwala Holding Limited Ø Dr. Ramesh Tainwala Ø Tainwala Trading and Investment
Co. Limited Ø Taiwala personal Care Products
Limited |
CAPITAL
STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
36000000 |
Equity Shares |
Rs. 10/- each |
Rs. 360.000 Millions |
Issued,
Subscribed & Paid-up Capital:
|
No. of
Shares |
Type |
Value |
Amount |
|
35491233 |
Equity Shares |
Rs. 10/- each |
Rs. 354.912 Millions |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2005 |
31.12.2004 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
|
354.912 |
354.912 |
|
|
2] Share
Application Money |
|
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
|
97.178 |
21.332 |
|
|
4] (Accumulated
Losses) |
|
0.000 |
0.000 |
|
NETWORTH
|
|
452.090 |
376.244 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
|
173.562 |
159.946 |
|
|
2]
Unsecured Loans |
|
0.000 |
0.000 |
|
TOTAL
BORROWING
|
|
173.562 |
159.946 |
|
|
DEFERRED
TAX LIABILITIES |
|
48.494 |
45.238 |
|
|
|
|
|
|
|
TOTAL
|
|
674.146 |
581.428 |
|
|
|
|
|
|
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APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block]
|
|
460.364 |
374.914 |
|
Capital work-in-progress
|
|
48.769 |
52.397 |
|
|
|
|
|
|
|
INVESTMENT
|
|
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
315.709 |
225.795 |
|
|
Sundry Debtors
|
|
271.268 |
97.719 |
|
|
Cash & Bank Balances
|
|
11.550 |
9.044 |
|
|
Other Current Assets
|
|
0.000 |
0.000 |
|
|
Loans & Advances
|
|
204.407 |
81.830 |
Total Current Assets
|
|
802.934 |
414.388 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
|
561.693 |
242.698 |
|
|
Provisions
|
|
76.228 |
17.573 |
Total Current Liabilities
|
|
637.921 |
260.271 |
|
Net
Current Assets
|
|
165.013 |
154.117 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
674.146 |
581.428 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
|
Sales
Turnover |
|
1678.857 |
1152.722 |
|
|
Other Income |
|
|
|
|
|
Total
Income |
|
1678.857 |
1152.722 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
182.594 |
99.469 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
182.594 |
99.469 |
|
|
|
|
|
|
|
|
Export Turnover |
|
893.743 |
545.105S |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
|
|
|
|
Manufacturing Expenses |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
Raw Material Consumed |
|
|
|
|
|
Purchases made for re-sale |
|
|
|
|
|
Consumption of stores and spares parts |
|
1496.263 |
1053.253 |
|
|
Increase/(Decrease) in Finished Goods |
|
|
|
|
|
Salaries, Wages, Bonus, etc. |
|
|
|
|
|
Managerial Remuneration |
|
|
|
|
|
Payment to Auditors |
|
|
|
|
|
Interest |
|
10.610 |
7.751 |
|
|
Depreciation & Amortization |
|
64.117 |
56.145 |
|
Total
Expenditure |
|
1570.99 |
1117.149 |
|
KEY
RATIOS
|
PARTICULARS |
|
|
31.12.2005 |
31.12.2004 |
PAT / Total Income
|
(%)
|
|
10.87
|
8.62 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
10.87
|
8.62 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
14.45
|
12.60 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.40
|
0.26 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
1.79 |
1.12 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
|
1.26 |
1.59 |
LOCAL
AGENCY FURTHER INFORMATION
The name of the company was changed to present w.e.f. 8th
September 2004.
Form 8 Particular for creation or modification of
charges
|
Corporation identity number or foreign company registrations
number of the company |
U19120MH1995PTC094287 |
|
Name of the company |
SAMSONITE SOUTH ASIA PRIVATE LIMITED |
|
Address |
Gat Nos. 159 to 163, Mumbai- Nashik Highway, Nashik
Village-Gonde (Dumala), Igatpuri, Maharashtra, India |
|
This Form is for |
Modification of charge |
|
Type of Charges |
Immovable property |
|
Particular of the charge holder |
State Bank of |
|
Nature or description of the instrument creating
charge |
No instrument. Memorandum of entry
was executed by way of constructive delivery. |
|
Date of the instrument creating charge |
14.02.2007 |
|
Amount Secure by the charge |
Rs.287.000 millions |
|
Modification charge Charge identification number of the charge to be modified |
90156589 |
|
Date of latest modification prior to the present
modification |
28.08.2006 |
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Particulars of the Property charged |
Borrowers current assets such as stock
of raw materials, semi finished and finished goods, stores and spares not
relating to plant and machinery (Consumable stores and spares) Receivables
and Book debts and all other pertaining to the said division both present and
future excluding such movables as per permitted by bank. |
|
Particulars of the present modification |
Now by the present modification
dated 14.02.2007 memorandum of entry was executed by ICICI Bank, ICICI Bank
acting for itself and as an agent of SBI, Indusind and IVB to create a second
charge by way of joint mortgage by deposit of title deeds by way of
constructive delivery on the company’s immovable properties of village Gonde,
Taluka Igatpuri, District Nashik in the state of Maharashtra as security by
the company to : SBI Rs.18.500 millions/IVB of Rs.12.500 millions/ Indusind
of Rs.17.750 millions. |
|
Name
of the company |
SAMSONITE SOUTH ASIA PRIVATE LIMITED |
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|
Presented By |
Mr. Mahesh Makhijani, director
Finance and Company Secretary |
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|
1) Date and
description of instrument creating the change |
Working capital consortium agreement Inter se agreement Joint deed of hypothecation All the above agreements are dated 20.05.1997 and executed
for the creation of a single charge. |
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2) Amount
secured by the charge/amount owing on the securities of charge |
|
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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 |
Borrowers current assets namely, stock of raw materials,
semi finished goods, stores and spares not relating to plant and machinery
(consumables, stores and spares) Bills receivables and book debts and all
other moveable of the borrower pertaining to the said division both present
and future excluding such movables as may be permitted by the said banks from
time to time of the borrower’s division at Village Gonde, Nashik in the state
of Maharashtra. |
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|
4) Gist
of the terms and conditions and extent and operation of the charge. |
ROI : Rate applicable to cash
credit account + 2% exclusive of interest tax. |
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5) Name
and Address and description of the person entitled to the charge. |
State Bank of ICICI Banking Corporation Limited,
Mumbai Indusind Bank Limited, Mumbai |
||||||||||||||||
|
6)
Date and brief description of instrument
modifying the charge |
No instrument was executed. Declaration by director (in
the matter of joint mortgage by deposit of title deeds (Constructive
delivery)) dated 30.11.2004 and Memorandum of entry dated 01.12.2004, on
30.11.2004 a joint mortgage was created by the company by deposit of title
deeds (constructive delivery) with ICICI Bank, ICICI Bank acting for itself and as agent of State
Bank of India, Indusind Bank and ING Vysya Bank Limited in respect of the
immovable properties of the company situated at Gat No.159 to 163, village
Gonde (Dumala), Taluka Igatpuri, District Nashik together with all buildings
and strictures thereon and all plant and machinery attached to the earth both
present and future. |
||||||||||||||||
|
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. |
The original charge was created on 20.05.1997 for
Rs.189.400 millions Firstly modified on 02.12.1997 by giving an additional
collateral security over the company’s immovable proprieties. Secondly modified on 08.09.2003 wherein at the request of
the borrower (i.e. the company) and with the concurrence of the consortium
members ICICI Banking Corporation
opted out of the Bank consortium and ING Vysya Bank Limited was inducted into
the consortium in place of ICICI Bank and the earlier working capital
facilities of Rs.189.400 millions was enhanced to Rs.190.600 millions as
follows :
Thirdly modified on 16.11.2004 when the working capital facilities
were enhanced upto the amounts but not exceeding in the aggregate the um of
Rs.218.250 millions as follows :
Now by the present modification dated 30.11.2004, No
instrument was executed nit a joint mortgage was created by the company by
deposit of title deeds (constructive delivery) with ICICI Bank, ICICI Bank
acting for itself and as agent of State Bank of India, Indusind Bank Limited
and ING Vysya Bank Limited in respect of the immovable properties of the
company situated at Gat Nos.159 to 163, Village Gonde (Dumala) Taluka
Igatpuri, District Nashik together with all buildings and structures thereon
and particularly described in the second schedule to the memorandum of entry
as collateral security on second ranking pari passu basis with other lenders
for securing the due repayment, discharge and redemption by the company to
the consortium bankers the working capital facilities aggregating to
Rs.218.250 millions sanctioned by the consortium. |
FIXED ASSETS:
Land,
OPERATIONS
The year 2003 has overall been a good year for the Company.
This is the first year since incorporation; the Company has showed a carried
forward profit in the balance sheet. Gross Sales grew by 10 % as compared to
the previous year and stood at Rs. 841.52 Millions. Net Profits during the year
have also increased to Rs. 45.95 Millions. Compared to Rs. 35.04 Millions, last
year thereby recording an increase of 31 % this is the year the company has
adopted Accounting Standards 22-i.e. “Accounting for tax on Income” As a result
of this company has provided Rs. 18.40 Millions on account of deferred tax
expenses. Had it not been for this, the net profit for the year under review
would have been higher and would have shown an increase of as much as 83.6 %
export were badly affected from the second quarter of the due to SARS. But
Company made all efforts to catch up for the loss and ended the year with an
export turnover of Rs. 433 Millions registering an increase of 7 % as compared to
the previous year.
During the year under review company introduced “AT Esteem”
both “Zipper closed ” as well as “Framed ” versions. These bags have been fully
designed and development in company ABS competency center at Nashik and has
been well accepted in both the international and domestics markets. Directors
are pleased to inform that the company have big orders in hand for the current
year for these products.
The company has cordial labour relations and new agreement
has been signed for three and half year.
Decision to put additional resources in brand building is
paying off dividends. Brand awareness has increased and domestic sales have
shown a growing trend. The distribution network has been further expanded with the
opening up of 16 New “travel words” mostly in the upcoming malls and shopping
complexes.
Notes
Samsonite South Asia
Private Limited, name has been approved vide Registration Number 11-146907.
This is a last available details as per Registry.
The Indian Promoters would not part any business details
about them.
They are pursuing from Registry but not sure when they would
be able to lay their hands on concrete details.
In the meantime, a press clipping giving vital details are
enclosed herewith.
Perhaps, on the basis of the proposed business dealings of
GBP 30000 against D/A, or D/P terms suggested.
Caption address is their manufacturing facility on a large
plot of land.
At last they could obtain the Registration Details of the
company. A detailed report will follow soon.
As per Web Details
Subject plans lifestyle accessories
Prabodh Chandrasekhar in Mumbai | June 07, 2005 10:29 IST
Lugguage manufacturer Samsonite Corporation is planning to launch shoes,
sunglasses and watches in
"This is their brand extension strategy in
The new products will be promoted through its Nasik-based
subsidiary Samsonite South Asia Private Limited.
Subject is currently marketing its shoes in
Subject
has plans to set up eight new lifestyle retail outlets in leading Indian metros
in the immediate future, he said. These stores will market new lifestyle range
of products including luggage brands.
"As a brand extension of Subject in
Subject is a 60:40 JV between Samsonite Corporation and the
Tainwala family. "Samsonite
About 85 per cent of the production is exported to markets
in Europe, US and
Future Plans of Action:
Following projects are in the pipeline:
Ø Star walker (Polycarbonate)
Ø Streamline MPC
Ø Low end Cruisair
Ø Luggage for Japanese market
Ø Silhouette 9
Ø AT Esteem II
TRADE TERMS WITH:
Ø Anmol Packagers Private Limited
Ø Apras Polybond Private Limited
Ø Baijnath Plastic Products Private
Limited
Ø Ditisha Engineering Private Limited
Ø Goa Sintered products Private
Limited
Ø Gripotex India Private Limited
Ø Kartar Eire Industries Private
Limited
Ø K C Cimbines Private Limited
Ø Manek Plastics Private Limited
Ø Monifa Engineering Private Limited
Ø Nishon Engineering Private Limited
Ø
Ø Trillon Industries Private Limited
Ø Ujjwal Heat trasfer Private Limited
Ø Venkatesh Plastofilms Private
Limited
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. 40.60 |
|
|
1 |
Rs.80.65 |
|
Euro |
1 |
Rs. 54.55 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |