MIRA INFORM REPORT
|
Report Date : |
16.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GUJARAT GREEN REVOLUTION COMPANY LIMITED |
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Registered
Office : |
GSFC Agro Development and Agrovigyanbhavan
G S F C, Science Foundation, Post Office Fertilizer Nagar, Vadodara – 391
750, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2008 |
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Date of
Incorporation : |
27.11.1998 |
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Com. Reg. No.: |
04-35039 |
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CIN No.: [Company
Identification No.] |
U63020GJ1998PLC035039 |
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Legal Form : |
A closely held public limited liability company |
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Line of Business
: |
The subject is engaged in implementing Micro Irrigation System in the
Gujarat State and also provides agro inputs such as Bio-fungicide products,
Pesticides, Bio-fertilizers, Seeds, etc. to the farmers so that they can save
water, energy and also improve their
agriculture productivity |
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 650000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is promoted by strong promoters having fine track. Trade
relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. It can be regarded as a promising business partner in a medium to
long-term. |
INFORMATION PARTED
BY
|
Name : |
Mr. S G Thakur |
|
Designation : |
Accounts Manager |
|
Date : |
04.11.2008 |
LOCATIONS
|
Registered
Office : |
GSFC Agro Development and Agrovigyanbhavan G S F C, Science Foundation,
Post Office Fertilizer Nagar, Vadodara – 391750, Gujarat, India |
|
Tel. No.: |
91-265-2242547 / 2243069 / 2242641 / 3093945 |
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Fax No.: |
91-265-2241685 / 2244685 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq. ft. |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Alexander Koippuram Luke |
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Designation : |
Chairman and Managing Director |
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Address: |
MD’s Bunglow, P O Fertilizer Nagar, Vadodara – 391 750, Gujarat, India |
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Date of
Birth/Age : |
04.08.1948 |
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Qualification : |
IAS |
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Date of
Appointment: |
30.05.2003 |
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|
Name : |
Mr. Premkumar Taneja |
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Designation : |
Chairman and Managing Director |
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Address: |
MD’s Bunglow, P O Fertilizer Nagar, Vadodara – 391 750, Gujarat, India
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Date of
Birth/Age : |
05.02.1957 |
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Qualification : |
IAS |
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Date of
Appointment: |
19.09.2008 |
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Date of Ceasing
: |
08.04.2008 |
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|
Name : |
Mr. Pradipkumar R. Pujari |
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Designation : |
Secretary (Economic Affairs, Finance Dept) –
Director |
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Address: |
A / 4, 304, Bageshri Apartment Satellite,
Cross Road, Ahmedabad – 380054, Gujarat, India |
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Date of
Appointment: |
27.09.2005 |
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Qualification : |
IAS |
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|
Name : |
Mr. Balwant R. Singh |
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Designation : |
Director |
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Address: |
K - 8, Sector 19, Gandhinagar – 382019,
Gujarat, India |
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Date of
Birth/Age : |
06.12.1951 |
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Qualification : |
IAS |
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Date of
Appointment: |
07.05.2005 |
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|
Name : |
Mr. Kiritbhai N. Shelat |
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Designation : |
Principal Secretary (Agri), GoG – Director |
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Address: |
6, Mani Kamal Society, Near Surdhara Circle,
Thaltej, Ahmedabad, Gujarat, India |
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Date of
Appointment: |
27.09.2005 |
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Qualification : |
IAS |
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Name : |
Mr. Shaileshbhai. J. Desai |
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Designation : |
Secretary (Narmada) – Director |
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Address: |
B – 1 / 001, Anupam Apartments, Near Water Tank,
Near Shabri Flats, Besides Himalay Arcade, Vastrapur, Ahmedabad, Gujarat,
India |
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Date of
Birth/Age : |
18.06.1957 |
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Date of
Appointment: |
07.05.2005 |
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Name : |
Mr. Mahesh. S. Patel |
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Designation : |
Secretary (Water Resources), GWRDC – Director |
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Address: |
7 / A, Sitabag Society, Near Aradhana High
School, Maninagar, Ahmedabad – 380008, Gujarat, India |
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Date of
Appointment: |
27.09.2005 |
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|
Name : |
Mr. Lalnunmawia. Chuaungo |
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Designation : |
Director (Admn), Energy and Dev. Corpn. –
Director |
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Address: |
GACL House, Near Amar Complex, Sama Road,
Vadodara – 8, Gujarat, India |
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Date of
Birth/Age : |
01.03.1962 |
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Date of
Appointment: |
07.05.2005 |
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Qualification : |
IAS |
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Name : |
Mr. Mahesh Balubhai Joshi |
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Designation : |
Managing Director |
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Address: |
Block No. 7, Kamalkunj, Society, Opp Arpan Complex, Delux Char Rasta,
Nizampura, Vadodara – 390 002, Gujarat, India |
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Date of
Birth/Age : |
08.07.1943 |
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Date of Appointment: |
28.06.2001 |
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Name: |
Mr. S. C. Shrivastav |
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Designation: |
Nominee Director |
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Address: |
A-1, Satyam Government Flat, Near Gujarat College, Ahemdabad, Gujarat, India |
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Date of
Appointment: |
30.12.2005 |
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Name : |
Mr. Pankaj B. Nanavati |
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Designation : |
Director |
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Address : |
A-9/9 Sector No. 39, GNFC Township, P O Narmda Nagar, Bharuch – 390
015, Gujarat, India |
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Date of Birth/Age : |
18.12.1946 |
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Date of
Appointment : |
30.12.2005 |
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|
Name : |
Mr. Shyamal Tikadar |
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Designation : |
Managing Director |
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Address : |
102 Fertilizer Nagar, P O Fertilizer Nagar, Vadodara – 391 750,
Gujarat, India |
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Date of Birth/Age : |
31.07.1962 |
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Qualification : |
IFS |
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Date of
Appointment : |
14.05.2008 |
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Date of Ceasing
: |
13.05.2008 |
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|
Name : |
Mr. Ramarao Chelluri |
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Designation : |
Director |
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Address : |
431-B, Fertilizer Nagar Township, P O
Fertilizer Nagar, Vadodara – 391 750, Gujarat, India |
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Date of Birth/Age : |
06.07.1948 |
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Date of Appointment : |
22.09.2006 |
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Name : |
Mr. Satishchandra Srivastav |
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Designation : |
Director |
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Address : |
A-1 Satyam Govt. Flats, Near Gujarat
College, Ellisbridge, Ahmedabad – 380 014, Gujarat, India |
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Date of Birth/Age : |
28.10.1956 |
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Date of Appointment : |
30.12.2005 |
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|
Name : |
Mr. Rameshbhai Bapubhai Desai |
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Designation : |
Director |
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Address : |
Street No. 31, A-3, GNFC Township, P O
Narmada Nagar, Bharuch – 392 015, Gujarat, India |
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Date of Birth/Age : |
01.06.1949 |
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Date of Appointment : |
10.07.2007 |
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Date of Ceasing : |
16.09.2008 |
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|
Name : |
Mr. Natarajan Thiruvenkadam |
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Designation : |
Director |
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Address : |
Street No. 31, Block No. 7, GNFC Township, P
O Narmada Nagar, Bharuch – 392 015, Gujarat, India |
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Date of Birth/Age : |
05.05.1971 |
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Date of Appointment : |
10.09.2008 |
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Name : |
Mr. Arvind Motilal Agarwal |
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Designation : |
Director |
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Address : |
Lane-16, Bunglow-302, Satyagrah Chhavni, Satellite
Road, Ahmedabad – 380 015, Gujarat, India |
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Date of Birth/Age : |
23.04.1960 |
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Date of Appointment : |
10.01.2008 |
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Name : |
Mr. Shivabhai Rughanathbhai Chaudhari |
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Designation : |
Director |
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Address : |
Plot No. 447/1, Gokul Society, Sector BB,
Gandhinagar – 382 008, Gujarat, India |
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Date of Birth/Age : |
11.07.1958 |
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Date of Appointment : |
21.05.2008 |
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|
Name : |
Mr. Chelluri Rama Rao |
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Designation : |
Director |
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Address : |
431-B, Fertilizer Nagar, P O Fertilizer
Nagar, Vadodara – 391 750, Gujarat, India |
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Date of Birth/Age : |
06.07.1948 |
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Date of Appointment : |
30.12.2005 |
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|
Name : |
Mr. Haribhai Vallabhbhai Patel |
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Designation : |
Director
|
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Address : |
MD’s Bungalow Fertilizer nagar P O
Fertilizer Nagar, Vadodara – 391 750,
Gujarat, India |
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Date of Birth/Age : |
02.01.1954 |
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Date of Appointment : |
30.04.2008 |
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E-Mail : |
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|
Name : |
Mr. Thiruvenkadam Natrajan |
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Designation : |
Director
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Date of Birth : |
05.05.1971 |
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Date of Appointment : |
10.07.2007 |
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Date of Ceasing : |
10.09.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Abraham Pandicherril Mathai
|
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Designation : |
Secretary |
|
Address : |
304 B, Fertilizer Nagar, Township, P O
Fertilizer Nagar, Vadodara – 391 750, Gujarat, India |
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Date of Birth/Age : |
23.10.1953 |
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Date of Appointment : |
27.09.2005 |
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|
Name : |
Mr. S G Thakur |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Mr. Vinubhai Shah |
10 |
|
Gujarat State Fertilizers and Chemicals Limited |
1250000 |
|
Gujarat Narmada Valley Fertilizers Company Limited |
1250000 |
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Gujarat Agro Industries Corporation Limited |
166800 |
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Mr. Harhadrai Premshankar Pandya |
10 |
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Mr. Vishvesh Dineshchandra Nanavaty |
10 |
|
Mr. Abraham P |
10 |
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Mr. Dilip Shah |
10 |
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Mr. Sanjeev Varma |
10 |
|
Mr. Vishvesh Vachhrajani |
10 |
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Total |
2666870 |
List of Allotees
|
Names of Allotees |
No. of Shares |
|
Gujarat State Fertilizers and Chemicals Limited |
500000 |
|
Gujarat Narmada Valley Fertilizers Company Limited |
500000 |
|
Gujarat Agro Industries Corporation Limited |
16800 |
|
Total |
1016800 |
Equity shares Breakup (percentage
of total equity) {As on 30.09.2008}
;-
|
Category |
Percentage |
|
Bodies Corporate |
99.99 |
|
Others |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
The subject is engaged in implementing Micro Irrigation System in the
Gujarat State and also provides agro inputs such as Bio-fungicide products,
Pesticides, Bio-fertilizers, Seeds, etc. to the farmers so that they can save
water, energy and also improve their
agriculture productivity |
|
|
|
|
Products : |
Agricultural
Inputs such as
|
PRODUCTION STATUS (As on 31.03.2008)
Actual Production
|
Particulars |
|
|
Installed
Capacity |
Actual
Production |
|
Bio – Fungicide |
|
|
100000 |
30400 |
Turnover
|
Particulars |
|
|
Quantity
|
Amount
(In
millions) |
|
Bio – Fungicide |
|
|
33130 |
2.004 |
GENERAL
INFORMATION
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Customers : |
Farmers |
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No. of Employees
: |
100 |
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Bankers : |
·
State Bank of Saurashtra, Ahmedabad ·
Indian Overseas Bank, Undera Branch, Undera, Vadodara – 396 003,
Gujarat, India ·
Dena Bank, Sudanpura ·
Bank of Baroda, Fertilizer Nagar |
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Facilities : |
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Auditors : |
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Name : |
C. C. Chokshi and Company Chartered Accountants |
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Address: |
31, Nutan Bharat Society, Alkapuri, Vadodara – 390007, Gujarat, India |
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Tel No.: |
91-265-2333776 |
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Fax No.: |
91-265-2339729 |
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Subsidiaries : |
·
Gujarat State Fertilizers and Chemicals Limited ·
Gujarat Urja Vikas Nigam Limited ·
Gujarat Agro Industries Corporation Limited ·
Gujarat Narmada Valley Fertilizers Company Limited |
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Parent Company : |
Gujarat State Financial Corporation (GSFC) |
CAPITAL STRUCTURE
As on 30.09.2008
Authorised Capital :
|
No. Of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- Each |
Rs.200.000
Millions |
Issued, Subscribed & Paid-Up Capital :
|
No. Of Shares |
Type |
Value |
Amount |
|
2666870 |
Equity Shares |
Rs.10/- Each |
Rs. 26.669 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
26.669 |
16.501 |
16.500 |
|
|
2] Share Application Money |
0.000 |
10.000 |
0.000 |
|
|
3] Reserves & Surplus |
101.931 |
21.363 |
6.682 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(15.151) |
|
|
NETWORTH |
128.600 |
47.864 |
8.031 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.005 |
28.840 |
|
|
2] Unsecured Loans |
0.000 |
12.796 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
12.801 |
28.840 |
|
|
DEFERRED TAX LIABILITIES |
1.207 |
1.243 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
129.807 |
61.908 |
36.871 |
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APPLICATION OF FUNDS |
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|
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|
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|
|
|
|
FIXED ASSETS [Net Block] |
25.869 |
25.936 |
24.750 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.317
|
4.575
|
4.395 |
|
|
Sundry Debtors |
0.086
|
0.632
|
0.000 |
|
|
Cash & Bank Balances |
1265.099
|
777.416
|
294.050 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.650 |
|
|
Loans & Advances |
93.420
|
36.233
|
10.393 |
|
Total
Current Assets |
1358.922
|
818.856
|
309.488 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
1182.845
|
766.240
|
296.367 |
|
|
Provisions |
72.139
|
16.644
|
1.000 |
|
Total
Current Liabilities |
1254.984
|
782.884
|
297.367 |
|
|
Net Current Assets |
103.938
|
35.972
|
12.121 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
129.807 |
61.908 |
36.871 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
123.859 |
97.387 |
41.771 |
|
|
Other Income |
103.233 |
15.914 |
3.262 |
|
|
Total Income |
227.092 |
113.301 |
45.033 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
122.508 |
48.777 |
14.779 |
|
|
Provision for Taxation |
41.939 |
12.262 |
0.740 |
|
|
Profit/(Loss) After Tax |
80.569 |
36.515 |
14.039 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
2.070 |
2.404 |
0.373 |
|
|
Consumption of stores and spares parts |
6.821 |
8.715 |
8.865 |
|
|
Increase/(Decrease) in Finished Goods |
4.150 |
(0.005) |
(1.318) |
|
|
Salaries, Wages, Bonus, etc. |
26.426 |
12.639 |
5.662 |
|
|
Managerial Remuneration |
0.461 |
0.594 |
0.683 |
|
|
Payment to Auditors |
0.169 |
0.149 |
0.068 |
|
|
Interest |
16.938 |
0.352 |
1.002 |
|
|
Insurance Expenses |
0.205 |
0.071 |
0.050 |
|
|
Power & Fuel |
0.047 |
0.058 |
0.000 |
|
|
Depreciation & Amortization |
4.220 |
4.094 |
3.012 |
|
|
Other Expenditure |
43.077 |
35.453 |
11.857 |
|
Total Expenditure |
104.584 |
64.524 |
30.254 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
35.48
|
32.23
|
31.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
98.90
|
50.09
|
35.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.85
|
5.77
|
4.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.95
|
1.02
|
1.84 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.76
|
16.62
|
40.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
1.05
|
1.04 |
LOCAL AGENCY
FURTHER INFORMATION
Performance Highlights:-
· Total business size increase to Rs. 2796 millions from Rs. 1749.3 millions in the previous year reflecting a growth of 59.84 %
· MIS segment business size is Rs. 2786.6 millions as compared to Rs. 1738.8 millions in the previous year reflecting a growth of 60.26%
· Gross profit and Net profit are Rs. 122.5 millions and Rs. 80.6 millions respectively as compared to Rs. 48.8 millions and Rs. 36.5 millions in the previous year.
· MIS segment coverage has increased from 27231 hectares in the previous year to 50776 hectares indicating a rise of 86.50%
· Beneficiary farmers went up from 13805 in the previous year to 32834 an increase of 137.80% - depicting wide coverage of small and marginal farmers; thus leading to fulfillment of the objective of MIS scheme of the Government.
Operations:
Micro Irrigation
Activity:
During the year, the company has facilitated installation of Micro
Irrigation System (MIS) for a total area of 50776 hectares covering 32834
farmers as compared to 27231 hectares covering 13805 farmers in the previous
year.
During the year, the company disbursed Government subsidy of Rs. 1198.9
millions. It is worth mentioning that all out efforts are made by the company
to popularise the Scheme and benefits of mIS
to the farmers of Gujarat not only by reduction of Unit Cost but also by using
various Mass Media Communication tools extensively.
The company has increased the number of MIS suppliers from 23 to 31,
thereby providing more choice to farmers on the one hand and enhancing the
speed of coverage of area on the other hand.
The company has standardized the system for application processing and
introduced transparency through computerization. The MIS suppliers offer
customized MIS suitable for different crops and areas.
During the 1st Quarter of the current year, the company has
already made firm commitments for installation of MIS in 7249 hectares covering
5040 farmers, whereas that for the corresponding period of the year 2007-08 was
8612 hectares and 5090 farmers. This indicates that the focus of the company is
to provide MIS to more number of small and marginal farmers. During the 1st Quarter of the
current year, the company has committed Government subsidy amount to the tune
of Rs. 355.6 millions
The company has been registered as an ISO 9001: 2000 company on
19.12.2007. This has resulted into a systematic approach facilitating prompt
service to the farmers of Gujarat for implementations of MIS.
During the year, Gujarat Urja Vikas Nigam Limited (GUVNL) has taken
initiatives to start various Schemes for providing preferential power
connection to those farmers who installed Micro Irrigation System.
Fixed Assets
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
Green Houses
·
Biofungicide Building
·
Drip Irrigation System (Dakor)
·
Technology Know-How
·
Vehicles
Web Details:-
Establishment
GAPC jointly promoted by GSFC, GAIC and GNFC was
in existence since 1999 and undertaking production of Banana Tissue Culture
Plants and also maintaining farm at Dakor. Board of Directors of GAPC decided
to rename this Company as Gujarat Green
Revolution Company Limited (GGRC)
and modify article of association so that business of Micro Irrigation System
can be taken up.
Applied to Registrar of Companies (RoC), Ahmedabad for change of name from
Gujarat Agri Processing Company Limited (GAPC) to GGRC on 05/03/2005 and RoC
approved renaming with effect from 04/05/2005.
Principles of
Micro Irrigation
· Water is applied
directly to the root zone of the plants.
· Water is applied at
frequent intervals at precise quantities based on Crop Water Requirements.
· Water is applied
through a low-pressure pipe network comprising Mains, Submains, Laterals and
Emitting Devices
Advantages of Micro Irrigation
·
Crop Yield Enhancement
·
Saving in Irrigation Water
·
Saving in Energy in pumping
·
Savings in Fertilizer consumption
·
Quality Improvement of Produce
·
Improved Pest and Disease Control
·
Improves Soil Health
·
Reduced Weed Growth
·
Reduced Labor Costs
·
Suitable and Marginal lands
·
Suitable and Marginal lands
·
Suitable for inferior quality water
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.47.94 |
|
UK Pound |
1 |
Rs.72.07 |
|
Euro |
1 |
Rs.64.70 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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. |
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 |
|