MIRA
INFORM REPORT
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Report Date : |
08.10.2007 |
IDENTIFICATION DETAILS
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Name : |
LOBA CHEMIE PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.03.1991 |
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Com. Reg. No.: |
11-60977 |
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CIN No.: [Company
Identification No.] |
U24100MH1991PTC060977 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUML01493C |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturers of
Chemicals. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 379384 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having satisfactory track. Trade relations are fair. Financial position is satisfactory. Payments are usually correct and as per
commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
107, Wode House, Jehangir
Villa, Colaba, Mumbai – 400005, |
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Tel. No.: |
91-22-22151010 |
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Fax No.: |
91-22-22151099 |
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E-Mail : |
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Website : |
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Factory 1 : |
Shed No. 62,
Arihant Commercial Complex, |
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Tel. No.: |
91-2522-272933 |
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Fax No.: |
91-2522-272934 |
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Area : |
22000 sq. ft. |
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Location : |
Owned |
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Factory 2 : |
Plot No. 52 &
53, Vasai Taluka Industrial Co-operative Estate Limited, Vasai [East], Thane
– 401208, |
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Tel. No.: |
91-250-2454743 |
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Fax No.: |
91-250-2455342 |
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Factory 3 : |
D – 62, MIDC,
Boiser, Tarapur |
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Area : |
6 acres |
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Location : |
Owned |
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Distributors
Representatives : |
Bharat Chemie 9, Pathak Wadi,
Mani Bhavan, Mumbai – 400002, Tel: 91-22-2203 5317/
2208 1904 Fax: 91-22-2208 2632 email: bchemie@vsnl.com
Chemical
Centre 65, Babu Genu
Road, P.O. Box No. 2638, Mumbai – 400002, Maharashtra, India Tel: 91-22-2205 1564 /
2205 7538 Fax: 91-22-2208 4559 email: chemcen@bom5.vsnl.net.in
Glab-Kem Tel: 91-22-2203 6125 /
2234 9486 Fax: 91-22-2205 2483 email: glab_kem@vsnl.net
Jasok
Chemicals 11, Bharat
Bhavan, Tel: 91-22-2201 4185 /
2205 5782 Fax: 91-22-2200 0295 R. Kumar &
Company 15, Tel: 91-22-2207 7944 /
2208 7945 Fax: 91-22-2207 7945 email: rkumarco@vsnl.com
Viresh
Chemicals 42/44, Tel: 91-22-2208 4064 /
2206 1675 Fax: 91-22-2208 4064 |
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Distributors
Representatives [International] : |
Located at : Kuwait, Malaysia,
Mauritius, Myanmar, Nepal, Sultanate of Oman, Peru, Russia, Saudi Arabia, Sri
Lanka, Sudan, Tanzania, Trinidad and Tobago, Turkey, UAE, United Kingdom,
Vietnam, Yemen |
DIRECTORS
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Name : |
Mr. Naren J. Shah |
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Designation : |
Managing Director |
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Address : |
B -12, Sealord,
Cuffe Parade, Colaba, Mumbai – 400005, |
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Date of Birth/Age : |
21.06.1948 |
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Qualification : |
B.S.C. |
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Experience : |
35 years |
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Date of Appointment : |
27.03.1991 |
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E-mail : |
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Name : |
Ms. Pratima N.
Shah |
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Designation : |
Director |
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Address : |
B -12, Sealord, Cuffe
Parade, Colaba, Mumbai – 400005, |
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Date of Birth/Age : |
12.01.1951 |
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Experience : |
8 years |
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Date of Appointment : |
30.08.1991 |
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E-mail : |
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Name : |
Mr. Praful J.
Shah |
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Designation : |
Whole Time
Director |
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Address : |
B – 51, Sealord,
Cuffe Parade, Colaba, Mumbai – 400005, |
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Date of Birth/Age : |
05.12.1938 |
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Date of Appointment : |
11.04.1991 |
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Name : |
Ms. Hansa P. Shah |
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Designation : |
Director |
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Address : |
B – 51, Sealord,
Cuffe Parade, Colaba, Mumbai – 400005, |
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Date of Birth/Age : |
17.11.1944 |
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Date of Appointment : |
27.03.1991 |
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Name : |
Mr. Dhiren J.
Shah |
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Designation : |
Whole Time
Director |
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Address : |
B – 61, Sealord
Cuffe Parade, Colaba, Mumbai – 400005, |
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Date of Birth/Age : |
21.10.1946 |
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Qualification : |
Inter Science |
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Experience : |
35 years |
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Date of Appointment : |
11.04.1991 |
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E-mail : |
dhiren@lobachemie.com |
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Name : |
Mr. Niruben D.
Shah |
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Designation : |
Director |
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Address : |
B – 61, Sealord
Cuffe Parade, Colaba, Mumbai – 400005, |
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Date of Birth/Age : |
21.09.1947 |
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Qualification : |
Graduate |
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Experience : |
35 years |
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Date of Appointment : |
27.03.1991 |
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E-mail : |
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Name : |
Mr. Parag Praful
Shah |
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Designation : |
Whole Time
Director |
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Address : |
B – 51, Sealord,
Cuffe Parade, Colaba, Mumbai – 400005, |
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Date of Birth/Age : |
23.06.1972 |
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Date of Appointment : |
01.10.1997 |
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Name : |
Mr. Nikhil Dhiren
Shah |
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Designation : |
Whole Time
Director |
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Address : |
B – 61, Sealord
Cuffe Parade, Colaba, Mumbai – 400005, |
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Date of Birth/Age : |
15.02.1974 |
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Qualification : |
B. Com / M.B.A. |
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Experience : |
35 years |
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Date of Appointment : |
01.10.1997 |
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E-mail : |
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Name : |
Mr. Vikas Naren
Shah |
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Designation : |
Whole Time
Director |
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Address : |
B -12, Sealord,
Cuffe Parade, Colaba, Mumbai – 400005, |
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Date of Birth/Age : |
16.04.1975 |
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Qualification : |
B. Com/ M.B.A. |
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Experience : |
8 years |
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Date of Appointment : |
01.10.1997 |
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E-mail : |
KEY EXECUTIVES
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Name : |
Mr. S. Poojari |
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Designation : |
Manager – Exports |
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E-mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of
Shareholders |
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No. of Shares |
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Mr. Naren J. Shah |
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146000 |
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Ms. Hansa P. Shah |
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22000 |
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Ms. Niruben D.
Shah |
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62000 |
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Mr. Praful J.
Shah |
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104020 |
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Mr. Dhiren J.
Shah |
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104020 |
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Ms. Pratima N.
Shah |
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60020 |
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Naren J. Shah
[HUF] |
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20 |
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Praful J. Shah
[HUF] |
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20 |
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Dhiren J. Shah
[HUF] |
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20 |
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Mr. Parag P. Shah |
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80020 |
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Mr. Rajeev P.
Shah |
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100020 |
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Ms. Punita Dhiren
Shah |
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20 |
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Mr. Nikhil Dhiren
Shah |
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100020 |
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Ms. Rinal Sumit
Shah |
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20020 |
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Mr. Vikas Dhiren
Shah |
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100020 |
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Ms. Ekta Nikhil
Zaveri |
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60000 |
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Ms. Dayita Parag
Shah |
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20000 |
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Mr. Parag Praful
Shah |
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40 |
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Mr. Nikhil Dhiren
Shah |
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40 |
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Mr. Vikas Naren
Shah |
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40 |
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TOTAL |
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978360 |
Equity Shares Breakup (Percentage Of Total Equity):
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of
Chemicals. |
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Brand Names : |
LOBA |
GENERAL INFORMATION
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No. of Employees : |
70 |
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Bankers : |
CITI Bank N.A. Citi Business, Citi Bank Centre,
2nd Floor, Bandra Kurla Complex, Bandra [East], Mumbai – 400051, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ketan Mehta &
Associates Chartered
Accountants |
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Address : |
8, Bharat House, 104 Mumbai Samachar Marg, Mumbai – 400 023, |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1978360 |
Equity shares |
Rs. 10/- each |
Rs. 19.783 millions |
NANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.784 |
9.783 |
9.783 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
85.062 |
53.982 |
32.429 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
94.846 |
63.765 |
42.212 |
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LOAN FUNDS |
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1] Secured Loans |
0.598 |
0.000 |
0.100 |
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2] Unsecured Loans |
46.500 |
22.550 |
35.250 |
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TOTAL BORROWING |
47.098 |
22.550 |
35.350 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
141.944 |
86.315 |
77.562 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
31.495 |
3.196 |
3.529 |
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Capital work-in-progress |
6.995 |
2.884 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
78.093 |
45.656 |
36.737 |
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Sundry Debtors |
45.430 |
45.668 |
34.270 |
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Cash & Bank Balances |
0.135 |
0.102 |
0.054 |
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Other Current Assets |
10.608 |
5.028 |
9.684 |
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Loans & Advances |
0.790 |
0.372 |
1.021 |
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Total
Current Assets |
135.056 |
96.826 |
81.766
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
24.815 |
11.144 |
4.599 |
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Provisions |
6.831 |
5.503 |
3.201 |
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Total
Current Liabilities |
31.646 |
16.647 |
7.800
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Net Current Assets |
103.410 |
80.179 |
73.966 |
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MISCELLANEOUS EXPENSES |
0.044 |
0.056 |
0.067 |
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TOTAL |
141.944 |
86.315 |
77.562 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
179.955 |
146.887 |
116.891 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
179.955 |
146.887 |
116.891 |
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Profit/(Loss) Before Tax |
56.858 |
34.235 |
20.467 |
|
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Provision for Taxation |
0.000 |
0.000 |
7.017 |
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Profit/(Loss) After Tax |
56.858 |
34.235 |
13.450 |
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Export Value |
38.220 |
25.399 |
0.000 |
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Interest |
5.235 |
4.737 |
0.000 |
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Depreciation |
1.337 |
0.808 |
0.000 |
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Other Expenditure |
116.525 |
107.107 |
0.000 |
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Total Expenditure |
123.097 |
112.652 |
96.424 |
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KEY RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
31.59 |
14.78 |
11.50 |
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Net Profit Margin (PBT/Sales) |
(%) |
31.59 |
14.78 |
17.50 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
32.76 |
34.22 |
23.99 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.59 |
0.53 |
0.48 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.83 |
0.61 |
1.02 |
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Current Ratio (Current Asset/Current Liability) |
|
4.26 |
5.81 |
10.48 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
LOBA CHEMIE PRIVATE LIMITED |
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Presented By |
Mr. Dhiren J. Shah |
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1) Date and description of instrument creating the change |
Goods security agreement dated |
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2) Amount secured by the charge/amount owing on the securities of charge |
Total working capital facilities of Rs. 15 millions |
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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 |
The whole of movable assets, including plant and machinery, both present and future, stocks of raw materials, goods in process of manufacture, semi – finished goods and all finished and manufactured goods and articles together with all stores, components, and spares which now belongs to and pertains, to or may hereafter from time to time during the continuance of this security belong to and pertains to the company and which are or shall or may be brought into stored or be in or upon or about. The company’s factory, godown and / or their premises wherever else the same may be situated, stored or lying or being including any such raw materials, inventories, article or goods, any stores spared and components or other similar moveable assets in course of transit or delivery to the company and all of the company’s present and future book debts, outstanding monies, receivables, claims, bills, investments, rights to or on moveable properties and moveable assets forming part of current and belonging to or pertaining to the company or which may at any time hereafter during the continuance of this security become due, owing payable or belonging to or pertaining to the company or which may at any time hereafter during the continuance of this security become due, owing payable or belonging to or pertaining to the company in the course of its business and together with all benefits, advantages and legal incidence thereof. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
In consideration of the lender having agreed to lend advance to the company the said credit facilities under agreement, the company covenants inter alia, as follows : 1. The company do repay the facility as mentioned in [2] above and pay interest and all other monies in the manner set out in the said agreement between the company and the lender and to comply with the terms and conditions of the said agreement 2. The said current assets & fixed assets hypothecated to the lender by way of first exclusive charge created in favour of the bank, as security for and be charged with the repayment of the loan with all interest, liquidated, damages, premia on prepayment or on redemption, costs, charges, and other expenses payable by the company to the lender in respect thereof. Margin – 32% for stocks and 41% for book debts 3. The company to keep the said assets in marketable and good condition and also insured as provided therein 4. Power of entry, power to take charge and / or possession of, seize, recover, receive, appoint and sell, contract, dispatch for realisation or otherwise dispose of or deal with all or any part of the said assets; etc. as provided therein |
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5) Name and Address and description of the person entitled to the charge. |
CITI Bank N.A. |
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Corporation identity number or foreign
company registrations number of the company
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U24100MH1991PTC060977 |
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Name of the company |
LOBA CHEMIE
PRIVATE LIMITED |
|
Address |
107, Wode House,
Jehangir Villa, Colaba, Mumbai – 400005, |
|
This Form is for |
Creation of charge |
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Type of Charges |
Hypothecation |
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Particular of the charge holder |
CITI Bank N.A. Citi Business, Citi Bank Centre,
2nd Floor, Bandra Kurla Complex, Bandra [East], Mumbai – 400051, E-mail : vinod.raghavan@citgroup.com |
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Nature or description of the instrument
creating charge |
Term Loan Agreement |
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Date of the instrument creating charge |
24.04.2006 |
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Amount Secure by the charge |
Rs. 25.000 millions |
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Brief of the principal terms and conditions
and extent and operation of the charge |
i. Interest @ 9.50% p.a. subject to changes
from time to time ii. Additional Interest by way of liquidated
damages @4% p.a. iii. The facilities granted to the company,
shall be repayable on demand |
|
Description of the property charge whether
it is a charge on |
Plant and Machinery, Furniture &
Fixtures, Stock in trade and Book debts |
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Particulars of the Property charged |
The whole of movable assets, including plant
and machinery, both present and future stocks of raw materials, goods in
process of manufacture, semi finished goods and all finished and manufactured
goods and articles together with all stores, components and spares which now
belongs to and pertains to, or may hereafter from time to time during the
continuance of this security belong to and pertains to the company and which
are or shall or may be brought into stored or be in or upon or about the
company’s factory, godowns and/or
their premises wherever else the same may be situated, stored, or lying or
being including and such raw materials, inventories, article or goods, any
stores spares and components or other similar movable assets in course of
transit or delivery to the company and all of the company’s present and
future book debts outstanding monies, receivables, claims, bill, investments,
rights to or on movable properties and movable assets forming part of current
& movable fixed assets which are now due owing or payable or belonging to
or pertaining to the company or which may at any time hereafter during the
continuance of this security become due, owing payable or belonging to or
pertaining to the company in the course of its business and together with all
benefits, advantages and legal incidence thereof. |
|
Corporation identity number or foreign
company registrations number of the company
|
U24100MH1991PTC060977 |
|
Name of the company |
LOBA CHEMIE
PRIVATE LIMITED |
|
Address |
107, Wode House, Jehangir
Villa, Colaba, Mumbai – 400005, |
|
This Form is for |
Modification of Charge |
|
Type of Charges |
Immovable Property |
|
Particular of the charge holder |
CITI Bank N.A. Citi Business, Citi Bank Centre,
2nd Floor, Bandra Kurla Complex, Bandra [East], Mumbai – 400051, E-mail : vinod.raghavan@citgroup.com |
|
Nature or description of the instrument
creating charge |
Constructive Memorandum of Equity |
|
Date of the instrument creating charge |
12.06.2007 |
|
Amount Secure by the charge |
Rs.48.000 millions |
|
Brief of the principal terms and conditions
and extent and operation of the charge |
Rate of interest: The borrower shall pay interest at such rate
as may be determined by bank from time to time Terms of repayment: On Demand Margin: As may be stipulated by the lenders from
time ot time Extent and operation: Equitable mortgage created by deposit of the
title deeds (by way of constructive delivery) in respect of immovable
properties including land and building more particularly described in column
No. 14 as security for repayment of credit facilities together with interest,
charges, costs and expenses and other monies due and payable by the company
to the bank. |
|
Short Particulars of the Property
charged |
Immovable Property situate At i)
Plot No. D – 22, Tarapur Industrial Estate, MIDC,
Village Salwad, Palghar, district, Thane and ii) Plot No. 3 F
P No. 427 of T P Scheme No. 1075, |
|
Date of latest modification prior to the
present modification |
24.04.2006 |
|
Particulars of the present modification |
The bank has now increased credit facilities
from Rs. 40.000 millions to Rs. 48.000 millions together with all interest,
costs, charges, expenses and other monies payable under or in respect of said
credit facilities. |
WEBSITE DETAILS:
Founded in 1973 as a
fine chemical manufacturer, Subject has grown into a customer-focused global
supplier of high quality chemicals, laboratory supplies and equipment. All
their facilities are ISO 9001:2000 certified. The New plant at Tarapur will
operate as per Good Manufacturing Practices (cGMP) Standards.
Subject has
implemented and follows the ISO Guidelines since 2002. The adoption of
the ISO International Quality Management Standards provides the foundation for
the development of Subject’s entire line of product offerings. At The Company,
customers can be assured of quality, safety and reliability. Continual
improvement is an integral and fundamental part of the ISO 9001:2000 standard.
Internationally accredited external auditors continually re-certify their
quality system every six months. In addition, Subject’s internal teams audit
the system in the intervals between outside audits to further strengthen their
quality management system.
Tarapur 2007 - The new upcoming plant of 150000
Square Feet, constructed area will be spread over 6.5 acres of
land. The plant will be in complete compliance with HAZMAT guidelines for
storing and handling of Chemicals. The unit will have over 12 Clean Room
facilities for packing of its Solids and Liquids to assure the highest quality
of its products.
Tarapur has a state
of the art Quality Assurance Laboratory equipped with technologically advanced equipment
for testing and maintaining the consistency and quality of all its products.
The company has also
introduced a new line of product range called LOBA LIFE to deal in Laboratory
Instruments and Safety Products.
Subject is being
represented in over 85 countries and is successful in gaining the market
share with its wide range of quality products. Special Packaging to meet
international guidelines gives Subject the ability to ship its products by Air,
Sea and Land to any part of the globe.
OTHER INFORMATION:
Subject was a
venture started over 25 years ago to deal in Biochemicals and Reagents for life
science research and other specialty chemicals. Subject today is one of the
forerunners in the Indian chemical industry. In a matter of years Subject
through its team work and efficiency, not forgetting its superior products, has
been able to establish a strong market share through out
Subject stepped into
the International Market 5 years ago and has been able to develop its good name
with customer satisfaction and its Quality products in many corners of the
world. At present Subject is doing business with
CORE VALUES
ACCOUNTABILITY
They take
responsibility for their decisions at the individual and company levels.
ACHIEVEMENT
They aspire to the highest
level of excellence in their products and services.
ACTION
They move quickly into
action after wise planning. They believe in moving forward for maximum results.
ATTITUDE
They believe that remaining
positive and looking ahead are essential parts of achieving goals.
BALANCE
They strive for
well-rounded employees who combine work, family, and recreation.
BOLDNESS
They believe that taking calculated risks encourages growth and new discovery.
CHALLENGE
They push their selves to the limit, question boundaries, and continually
advance.
COMMITMENT
They keep their promises to clients, employees, and their families.
.
COMMUNITY
They donate time, money, and
resources to local charitable organizations. They build key relationships by
supporting their community.
MOTTO
To achieve a
systematic and well-balanced growth through increased customer participation
and market expansion
To provide newer products
and services according to customer needs
To use their
in-depth knowledge of the market to ensure a fair deal to both customers and
principals
To provide
personalized service, on schedule deliveries and reliable quality at
competitive prices at all time
PRODUCTS
LAB CHEMICALS
INCOMPATIBILITY
OF COMMON LABORATORY CHEMICALS
When certain
hazardous chemicals are stored or mixed together, violent reactions may occur
because the chemicals are unsuitable for mixing, or are incompatible. Classes of incompatible chemicals should be
segregated from each other during storage, according to hazard class. Use the
following general guidelines for hazard class storage:
Flammable/Combustible
Liquids and Organic Acids
· Flammable Solids
· Mineral Acids
· Caustics
· Oxidizers
· Perchloric Acid
· Compressed Gases
· Before mixing any chemicals
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.39.38 |
|
|
1 |
Rs.80.96 |
|
Euro |
1 |
Rs.56.81 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|