1. Summary Information
|
Company Name |
ALPINE KNITS INDIA PRIVATE
LIMITED |
Principal Name 1 |
MR. RAJA MUTHUSAMY SHANMUGAM |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. MUTHUSAMY RAMASWAMY |
|
Street Address |
71-B, Sri Towers, Municipal
Office Road, Tirupur – 641 604, Tamilnadu, India |
||
|
Established Date |
30.12.2002 |
SIC Code |
-- |
|
Telephone# |
91-421-5321180 / 2239085 |
Business Style 1 |
TRADING |
|
Fax # |
91-421-2239085 / 5321180 / 5321181 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
SEWING MACHINES |
|
|
# of employees |
135 |
Product Name 2 |
- |
|
Paid up capital |
Rs.2400000 |
Product Name 3 |
- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS (100%) |
Banking |
CANARA BANK |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
Ba |
|
Related Company |
|||
|
Relation – Group Company |
Country – India |
Company Name |
ALPINE
ACCESSORIES |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2007 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
78,036,000 |
Current Liabilities |
60,998,000 |
|
Inventories |
17,237,000 |
Long-term Liabilities |
50,776,000 |
|
Fixed Assets |
32,153,000 |
Other Liabilities |
7,057,000 |
|
Deferred Assets |
000 |
Total Liabilities |
118,831,000 |
|
Invest& other Assets |
35,002,000 |
Retained Earnings |
23,960,000 |
|
|
|
Net Worth |
26.360,000 |
|
Total Assets |
145,191,000 |
Total Liab. & Equity |
145,191,000 |
|
Total Assets (Previous Year) |
103,677,000 |
|
|
|
P/L Statement as of |
31.03.2007 |
(Unit: Indian Rs.) |
|
|
Sales |
172,117,000 |
Net Profit |
13,120,000 |
|
Sales(Previous yr) |
165,510,000 |
Net Profit(Prev.yr) |
11,236,000 |
MIRA
INFORM REPORT
|
Report Date : |
10.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ALPINE KNITS INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
71-B, Sri Towers, Municipal Office Road, Tirupur – 641
604, Tamilnadu |
|
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|
Country : |
India |
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|
|
Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.12.2002 |
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Com. Reg. No.: |
18-10423 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U01810TZ2002PTC010423 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEA09143B |
|
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|
|
PAN No.: [Permanent
Account No.] |
AADCA9626N |
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|
Legal Form : |
Private limited liability company. |
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|
Line of Business : |
Trader of Sewing Machines |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 130000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY (PARTIAL INFORMATION)
|
Name : |
Mr. Kulandieval |
|
Designation : |
Accounts Manager |
|
Date : |
09.12.2008 |
LOCATIONS
|
Registered Office / Head Office / Factory : |
71-B, Sri Towers, Municipal Office Road, Tirupur,
Coimbatore– 641604, Tamilnadu, India |
|
Tel. No.: |
91-421-5321180
/ 2239085 |
|
Mobile No.: |
91-9843321180 |
|
Fax No.: |
91-421-2239085
/ 5321180 / 5321181 |
|
E-Mail : |
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|
Website : |
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|
Area : |
15000 sq. ft. |
|
Location : |
Owned |
|
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Branch Office 1 : |
No:1, K.R.Colony,Domular 7th
Cross, Bangalore-71, Karnataka, India |
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Tel. No.: |
91-80-25359777 |
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E-Mail : |
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Branch Office 2 : |
Plot No:41,Viajayanagar Colony,
Vikrampuri, Secunderabad - 500 009, Andhra Pradesh, India |
|
Tel. No.: |
91-40-40150248 |
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E-Mail : |
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Branch Office 3 : |
Door No: 45/7/8 Golalilatalam, Near Jggarao Bridge,
Akkayyapalam |
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E-Mail : |
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Branch Office 4 : |
No.2-A,Sengunthapuran, 6th
Cross, Karur - 638 001, Tamilnadu, India |
|
Tel. No.: |
91-4324-234180 |
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E-Mail : |
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Branch Office 5 : |
New No: 100, Old No : 95, Gopalan Street, Chairman
Vasudevan Nagar, |
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Tel. No.: |
91-44-45579491 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Raja Muthusamy Shanmugam |
|
Designation : |
Director |
|
Address : |
No. 33, Vaikkal Thottam, Sheriff Colony, Tirupur – 641
604, Tamilnadu, India |
|
Date of Birth/Age : |
08.02.1965 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
30.12.2002 |
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|
Name : |
Mr. Muthusamy Ramaswamy |
|
Designation : |
Director |
|
Address : |
No. 33B, Vaikkal Thottam, Sheriff Colony, Tirupur – 641
604, Tamilnadu, India |
|
Date of Birth/Age : |
24.07.1967 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
30.12.2002 |
|
|
|
|
Name : |
Mr. Ramasamy Ramasamy Shrinivasan |
|
Designation : |
Director |
|
Address : |
1, Ramaswamy Nagar, Kangayam Road, Tirupur, Coimbatore –
641 604, Tamilnadu, India |
|
Date of Birth/Age : |
11.01.1967 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
30.12.2002 |
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|
|
Name : |
Mr. Praveenraj Vikram Raj |
|
Designation : |
Director |
|
Address : |
10, Eswari Bhavan, Odakadu, Tirupur – 641 602, Tamilnadu,
India |
|
Date of Birth/Age : |
24.04.1966 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
30.12.2002 |
MAJOR SHAREHOLDERS
(As on 24.09.2007)
|
Names of Shareholders |
No. of Shares |
|
Raja M. Shanmugam |
60000 |
|
M. Ramaswamy |
60000 |
|
R. R. Shrivasan |
60000 |
|
P. Vikram Raj |
60000 |
|
|
|
|
Total |
240000 |
Equity share
breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage |
|
Directors or relatives of
directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Sewing Machines |
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Products : |
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Agencies Held : |
·
Pegasus Sewing Machines, Osaka , Japan ·
Juki Sewing Machines, Japan ·
Lectra Cutting Solution, France ·
Sunstar Sewing Machines, Korea ·
Smart MRT Company, Singapore ·
Kansai Special, Japan ·
Naomoto Products, Japan |
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Imports : |
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Countries : |
·
Korea ·
Japan ·
China |
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Terms : |
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Selling : |
Credit (90 days) |
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Purchasing : |
Credit (90 days) |
GENERAL
INFORMATION
|
Customers : |
·
Eastman
Exports ·
Centwin ·
Ahill
Apparels ·
Best
International ·
Shakthi
Knitting Limited ·
Royal
classic Mills Private Limited ·
Leeds
Exports ·
R.A.
Knitting ·
RBR
Garments ·
Stallion
Garments ·
Fab
N Fabrics ·
Gold
King Export ·
Jindal
Textiles ·
Saran
Garments ·
Modern
Knitting Company |
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No. of Employees : |
135 |
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Bankers : |
Canara Bank Tirupur Main Branch, SAK Complex, Palladam Road, Tirupur –
641 604, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
P. S. Krishnan and Company Chartered Accountants |
|
Address : |
55, Universal Road, Tirupur – 641 601, Tamilnadu, India |
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|
|
|
Group Companies : |
·
Alpine Accessories Spares and Garment Accessories ·
Alpine Knits India (Private)
Limited Manufacturers of Cotton Yarn. ·
Active Engineering Associates Authorized Service Centre for HO
HSING, Taiwan ·
Warsaw International Garment Export House. ·
AZO Textile Testing Laboratory
Textile Testing under
International Standards. ·
Aalfa Dyes and Chemicals Manufacturer of Textile Dyes and
Chemicals. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
240000 |
Equity Shares |
Rs.10/- each |
Rs.2.400 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.400 |
2.400 |
2.400 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
23.960 |
13.325 |
5.378 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
26.360 |
15.725 |
7.778 |
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LOAN FUNDS |
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1] Secured Loans |
36.767 |
12.117 |
7.135 |
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2] Unsecured Loans |
14.009 |
3.763 |
0.159 |
|
|
TOTAL BORROWING |
50.776 |
15.880 |
7.294 |
|
|
DEFERRED TAX LIABILITIES |
7.057 |
4.695 |
1.444 |
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|
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|
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TOTAL |
84.193 |
36.300 |
16.516 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
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FIXED ASSETS [Net Block] |
32.153 |
22.424 |
11.316 |
|
|
Capital work-in-progress |
34.691 |
0.000 |
0.092 |
|
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|
|
|
|
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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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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.237
|
20.128 |
17.034 |
|
|
Sundry Debtors |
33.119
|
33.353 |
27.154 |
|
|
Cash & Bank Balances |
5.076
|
12.418 |
8.957 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
22.604
|
15.338 |
4.473 |
|
Total
Current Assets |
78.036
|
81.237 |
57.618 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
58.048
|
66.037 |
51.705 |
|
|
Provisions |
2.950
|
1.340 |
0.838 |
|
Total
Current Liabilities |
60.998
|
67.377 |
52.543 |
|
|
Net Current Assets |
17.038
|
13.860 |
5.075 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.311 |
0.016 |
0.033 |
|
|
|
|
|
|
|
|
TOTAL |
84.193 |
36.300 |
16.516 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
172.117 |
165.510 |
100.782 |
|
|
Services |
0.811 |
1.101 |
0.310 |
|
|
Other Income |
24.631 |
21.449 |
11.745 |
|
|
Total Income |
197.559 |
188.060 |
112.837 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
14.970 |
12.576 |
6.087 |
|
|
Provision for Taxation |
1.850 |
1.340 |
0.770 |
|
|
Profit/(Loss) After Tax |
13.120 |
11.236 |
5.317 |
|
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|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Purchases |
0.000 |
0.000 |
99.430 |
|
|
Manufacturing Expenses |
5.129 |
2.157 |
0.000 |
|
|
Administrative Expenses |
24.900 |
19.874 |
11.320 |
|
|
Raw Material Consumed |
142.686 |
152.845 |
0.000 |
|
|
Direct expenses |
0.000 |
0.000 |
2.640 |
|
|
Increase/(Decrease) in Finished Goods |
2.891 |
(3.095) |
(7.079) |
|
|
Interest |
4.031 |
1.901 |
0.251 |
|
|
Miscellaneous Expenses W/Off |
0.016 |
0.016 |
0.016 |
|
|
Depreciation & Amortization |
2.936 |
1.786 |
0.172 |
|
Total Expenditure |
182.589 |
175.484 |
106.750 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
6.64
|
5.97 |
4.71 |
|
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|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.70
|
7.60 |
6.04 |
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.59
|
12.13 |
8.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.57
|
0.80 |
0.78 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.24
|
5.29 |
7.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28
|
1.21 |
1.10 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
ALPINE
KNITS INDIA PRIVATE LIMITED |
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|
1) Date and description of instrument creating the change |
Hypothecation
agreement of machinery dated 26.03.2003 executed by Alpine
Knits India Private Limited in favour of Canara Bank, Palladam Road, Tirupur |
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|
2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Rs.
0.500 Millions Letter of Credit
FLC [D/A] Rs. 10.000 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 |
Hypothecation of
Stock of Spares and accessories for the use of machines imported under FLC on
DA basis. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest,
commission and charges as applicable |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank Palladam Road Tirupur |
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6) Date and brief description of instrument modifying the charge |
Deed of
hypothecation [Machinery] dated 24.12.2004 Supplemental
agreement for cash credit dated 24.12.2004 |
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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. |
Limits enhanced
from Rs. 10.500 Millions to Rs. 19.250 Millions as detailed below : Rs. In millions
Hypothecation of
1 No. 250 KW Pioneer Wincon Wind Energy Generator to be installed at
Sellakarachal Village, Palladam
Coimbatore District at project cost of Rs. 9.05 Millions. Repayable in 20
quarterly installments of Rs. 337500 each Rate of interest
14.25 % |
|
Corporate
identity number of the company |
U01810TZ2002PTC010423 |
|
Name of the
company |
ALPINE KNITS INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
71-B, Sri Towers, Municipal Office Road, Tirupur – 641
604, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Canara Bank Tirupur Main Branch, SAK Complex, Palladam Road, Tirupur –
641 604, Tamilnadu, India |
|
Nature of
instrument creating charge |
Supplemental
Common Hypothecation Agreement dated 19.04.2008 |
|
Date of
instrument Creating the charge |
19.04.2008 |
|
Amount secured by
the charge |
Rs.366.898
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest For Cash Credit – 1-14.25% p.a. (At present 11.50%) And For Cash Credit 2-11.50% pa. For FLC1-Rs.10.000 millions – Charges
as applicable For BG Rs.30.042 millions – As per norms depending upon the margin For
TL1-14.25% pa (Reduced to 12% pa) For TL2-13.25% pa. (Reduced to 12% pa.) For
TL3-15% p.a. (Reduced to 12% pa) For TL4-Rs.189.100 millions – Floating rate – 11% For Tl5-Rs.17.500
millions – Floating rate – 11.50% For DPN (STL) Loan – 13.25% For KCC (ST) loan BPLR 1.25% (Presently
11.50%) ·
Terms of
repayment For CC1, CC2, LC (FLC/DA)1, BG, KCC-On demand TL1 in 20 quarterly
instalments of 337500- TL2 in 20 quarterly instalments of 385000-Tl 3 in 78
quarterly instalements (77 installments of 101200 and one installment of
107600) – TL4 in 27 quarterly instalments (26 quarterly instalments of
Rs.7.000 millions and last instalments of Rs.7.100 millions TL5 in 27
quarterly instalments (26 quarterly instalments of 0.648 million and last
instalments of 0.652 millions) DPN (STL) Loan – Within 10 months from the
date of availment by way of bullet payment. ·
Margin For Cash Credit 1 – 25% For Cash Credit 2-25% For BG – Not less than 25% For term loan 1 – 25% For term loan 2 – 25% For term loan 3 – 25% For term loan 4 – 27.30% For term loan 5 – 27.30% For DPN (STL) Loan – 30.57% For KCC (ST) loan – 10% ·
Extent and
operation of charge For cash credit (1 and 2), For LC (FLC/DA) 10.000 millions, BG and DPN
(STL) Loan and KCC (ST) loan – Hypothecation of stock oh spares and
accessories for the use of machines imported under FLC on DA basis. TL 1 – Hypothecation of 1 no. wind energy generator. TL 2 – Hypothecation of 1 no. wind energy generator. TL 3 – Hypothecation of 1 no. wind energy generator to be purchased
and installed for a cost of Rs.10.400 millions TL 4 and TL 5 – Hypothecation of textile machineries. |
|
Particulars of
the property charged |
Extension of
Hypothecation of textile machineries, stock of imported machines and Book
Debts, Extension of Hypothecation of WEG @ Chittambalam, Palladam TK, 1 WEG
with EM of land @ Sellakarachal, Palladam, 1 WEG with EM of land @
Panikkampatti, Palladam and Extension of security by way of EM of property @
Yelavanthi Village, Tirupur Tk and @ Chittambalam, Palladam Tk and @ SF
no.160 Chittambalam Palladam Tk (6.83 acres) by deposit of title deeds to
cover the present overall limit of Rs.366.898 millions. |
Operation
During the year the turnover of the Company has increased from
Rs.165.510 millions to Rs.172.117 millions which is 4%. The profit before
appropriation has also increased from 12.575 millions to Rs.14.970
millions.
Fixed Assets
·
Land
·
Airconditioner
·
Furniture and Fittings
·
Computer and Accessories
·
Vehicle
·
Office Equipments
·
Plant and Machinery (Wind Mill)
As per Website
Alpine
Knits India (Private) Limited was found in the year 2003, getting into sewing
machine industries, as a solution provided for the garment making industries of
South India.
The improvingly quality conscious Indian products have a special niche in the
readymade garment segment, knitted as well as woven. India, well known from
time immemorial, for its excellent cotton quality is now having the added
advantage of using the machine technology to turn the cotton into fine yarn and
further as premium fashion wear.
With
the increasing media glare adding to the dressing sensibility with the new
intellectual creative generation making waves in the fashion industry, the
scope for the readymade industry is manifold and fast growing all over the
world. This trend has led to more people turning to the skilled job of
tailoring and more usage of advanced and specialized stitching machines. Thus,
the fashion trend, local and international, gives them a vast area of high
potential to market quality machines to make readymade garments.
The economic scenario too plays a vital roll in determining the growth of the
industry as the export depends on various factors like currency value and the
WTO agreement on free trade. As they see it today, the economic stability and
the political stability contributing to the consistency in industrial growth,
not only makes the Europe and the West to have steady business relationship
with them, but entering into more of investing in joint ventures too. Quite a
few branded companies in the textile sector have ventured into such joint
operations. More such are expected to follow suit. On the other front of the
trade agreements, the impending quota system expected to give way to more of
free trade in the export avenue from the year 2004, would certainly turn many a
business heads towards them for their imports of ready wear.
In
short, the above factors point to one aspect. i.e. more, fast paced, guaranteed
growth where the usage of machines is expected to grow manifold. A clear
indication, well supported by the daily growing demand for the machines, which
has not been met even substantially. Thus, giving them a wider scope to plan
and perform.
Product
Principles
include
·
Pegasus Sewing Machines, Osaka,
Japan
·
Juki Sewing Machines, Japan
·
Lectra Cutting Solution, France
·
Sunstar Sewing Machines, Korea
·
Smart MRT Company, Singapore
·
Kansai Special, Japan
·
Naomoto Products, Japan
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.49.22 |
|
UK Pound |
1 |
Rs.73.03 |
|
Euro |
1 |
Rs.63.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
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 |
|