MIRA
INFORM REPORT
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Report Date : |
26.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SPECTRUM GARMENT FINISHING EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
15/2, Punjabi Bagh Ext, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04.12.1992 |
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Com. Reg. No.: |
051240 |
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CIN No.: [Company
Identification No.] |
U29267DL1992PTC051240 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS09058A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter And Supplier Of Industrial Washing Machines,
Pressing Machines, Dyeing Machines, Hydro Extractors, Drying Tumblers, Dry Cleaning
Machines, Washer Extractors, Flat Bed Press, Flat Work Ironer, Stain Removing
Machines And Steam Finishing Machines, Etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade relations
are reported as fair. Business is active. Payments are however reported as
usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
15/2, Punjabi Bagh Ext, |
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Tel. No.: |
91-124-4107515-18 |
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Fax No.: |
91-124-4011019 |
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Website : |
DIRECTORS
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Name : |
Mr. Rajeev Arora |
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Designation : |
Director |
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Name : |
Mr. Kailash Arora |
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Designation : |
Director |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr. Rajeev Arora |
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26200 |
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Mr. Poonam Arora |
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17550 |
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Mr. Kailash Arora |
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500 |
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Rajeev Arora (HUF) |
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1700 |
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Shivam Arora |
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1600 |
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Suheena Arora |
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1500 |
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Category |
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Percentage |
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Director or relatives of Director |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter And Supplier Of Industrial Washing Machines,
Pressing Machines, Dyeing Machines, Hydro Extractors, Drying Tumblers, Dry
Cleaning Machines, Washer Extractors, Flat Bed Press, Flat Work Ironer, Stain
Removing Machines And Steam Finishing Machines, Etc. |
GENERAL INFORMATION
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No. of Employees : |
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Bankers : |
Unknown |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Sanjeev Kohli Chartered Accountant |
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Address : |
80, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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49550 |
Equity Shares |
Rs.10/- each |
Rs.0.495
Million |
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.495 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.524 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.019 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.389 |
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TOTAL BORROWING |
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0.389 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.408 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.562 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.075 |
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Sundry Debtors |
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0.085 |
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Cash & Bank Balances |
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0.013 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.050 |
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Total
Current Assets |
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0.223 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.377 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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1.377 |
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Net Current Assets |
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(1.154) |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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1.408 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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5.000 |
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Other Income |
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0.000 |
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Total Income |
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0.000 |
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Profit/(Loss) Before Tax |
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0.000 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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0.000 |
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Expenditures : |
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Other Expenditure |
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0.000 |
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Total Expenditure |
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0.000 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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PAT / Total Income |
(%) |
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-- |
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Net Profit Margin (PBT/Sales) |
(%) |
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-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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-- |
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Return on Investment (ROI) (PBT/Networth) |
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-- |
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Debt Equity Ratio (Total Liability/Networth) |
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1.73 |
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Current Ratio (Current Asset/Current Liability) |
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0.00 |
LOCAL AGENCY FURTHER INFORMATION
As Per Web Site:
The Company established in the year 1985, is a manufacturer,
exporter and supplier of Industrial Washing Machines, Pressing Machines, Dyeing
Machines, Hydro Extractors, Drying Tumblers, Dry Cleaning Machines, Washer
Extractors, Flat Bed Press, Flat Work Ironer, Stain Removing Machines and Steam
Finishing Machines, etc. With over 20 years of engineering expertise, one can
be assured of getting the best equipment in the market that will meet the needs
of today and the future.
Them products include much more than just Washing, Dry Cleaning and
Finishing Equipments. They deal into a quality range of Industrial Washing
Machine, Pressing Machines, Dyeing Machines, Hydro Extractors, Drying Tumblers,
Dry Cleaning Machines, Washer Extractors, Flat Bed Press, Flat Work Ironer,
Stain Removing Machines and Steam Finishing Machines, etc.
Mr. Rajeev Arora is the founder and promoter of the company, a
technocrat, who started this company with an ambition to excel in this
industry. He was committed to make user-friendly, durable and cost-effective
Industrial Washing Machines and Drying Machines to suit Indian
conditions and stand out in the International Market for their quality standard
and reliability. Them machines are sturdy, user-friendly, simple functions, low
maintenance, long lasting, rust-free and requires lesser space, which make them
the most sought after among them users.
Today, with over 3500 installations comprising of over 17, 000
machines, them quality has allowed us to become the largest manufacturer of
Industrial Washing Machines in
Them machines have high levels of Efficiency, Quality and Durability.
They have always maintained a standard of excellence. They have spread them
wings into world-market with superior quality raw material sourcing and
state-of-the-art manufacturing facility based in
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.40.60 |
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1 |
Rs.80.65 |
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Euro |
1 |
Rs.54.55 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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33 |
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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