MIRA INFORM REPORT
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Report Date : |
25.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FIREPRO SYSTEMS
PRIVATE LIMITED |
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Registered Office : |
No. 10 & 11,
Service Road, Hal 2nd Stage, Indiranagar, Bangalore – 560008,
Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.12.2001 |
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Com. Reg. No.: |
08-29937 |
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CIN No.: [Company
Identification No.] |
U28999KA2001PTC029937 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM04985B |
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PAN No.: [Permanent
Account No.] |
AAACE7406Q |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer,
Importer and Installation of Fire Protection Systems. |
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 2445652 |
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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 normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office / Factory: |
No. 10 & 11,
Service Road, Hal 2nd Stage, Indiranagar, Bangalore – 560008,
Karnataka, India |
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Tel. No.: |
91-80-41588800 /
51588800 |
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Fax No.: |
91-80-41153100 /
51153100 |
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E-Mail : |
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Website : |
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Area : |
4000 sq. fts. |
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Location : |
Owned |
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Corporate Office: |
C – 202, Mangalya Off Marol Maroshi Road, Marol , Andheri (East),
Mumbai – 400 059, Maharashtra, India |
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Branches : |
Chennai Chennai 600 102 Phone: 91-44 - 4217 0023 Fax: 91-44 - 4205 7902 E-mail: pvukrishnan@fireprosystems.com Contact Person: Mr. P V Unnikrishnan Hyderabad Hyderabad 500 082 Phone: 91-40 - 5562 2292 TeleFax: 91-40 - 5562 2282 E-mail: sekar@fireprosystems.com Contact Person: Mr. Sekar D Delhi Phone: 91-11 - 5160 2428 Fax: 91-11 - 5160 2429 E-mail: anilkumra@fireprosystems.com / sjha@fireprosystems.com Contact Person: Mr. Anil Kumra / Mr. Sunil Jha Kolkata Phone: 91-33 - 3097 2282 Fax: 91-33 - 2840 0398 E-mail: abhijitdatta@fireprosystems.com Contact Person: Mr. Abhijit Datta Mumbai Marol Naka, Andheri (East), Mumbai 400 059 Phone: 91-22 - 5675 4861 Fax: 91-22 – 56754862 E-mail: anilrathi@fireprosystems.com Contact Person: Mr. Anil Rathi |
DIRECTORS
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Name : |
Mr. N. S.
Narendra |
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Designation : |
Director |
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Address : |
No. 10 & 11,
Service Road, Hal 2nd Stage, Indiranagar, Bangalore – 560008,
Karnataka, India |
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Date of Birth/Age : |
06.03.1966 |
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Date of Appointment : |
27.12.2001 |
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Name : |
Mr. Santosh
Senapti |
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Designation : |
Director |
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Address : |
11 Tahnee
Heights, A wing Petit Hall 66 Napeansea Road, Mumbai – 400 006, Maharashtra,
India |
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Date of Birth/Age : |
30.07.1962 |
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Date of Appointment : |
31.03.2006 |
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Name: |
Mrs. Cauvery
Narendra |
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Designation : |
Director |
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Address : |
501, Embassy
Crown 24 Aga Abbas Ali Road, Bangalore – 500 042, Karnataka, India |
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Date of Birth/Age : |
27.01.1972 |
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Date of Appointment : |
27.12.2001 |
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Name: |
Mr. Ashish Kumar |
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Designation : |
Director |
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Address : |
83 Maker Tower
‘L’ Cuffe Parade, Mumbai – 400 005, Maharashtra, India |
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Date of Birth/Age : |
06.03.1972 |
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Date of Appointment : |
31.03.2006 |
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Name: |
Mr. Ada Tse |
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Designation : |
Director |
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Address : |
2/F, 25 South Bay
Road, Hong Kong HA9046275, Hong Kong |
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Date of Birth/Age : |
09.09.1966 |
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Date of Appointment : |
31.03.2006 |
KEY EXECUTIVES
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Name : |
Mr. Debasis Bhattacharya |
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Designation : |
Company Secretary |
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Address : |
Koramangala, Bangalore – 560 034, Karnataka, India |
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Date of Birth/Age : |
05.04.1957 |
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Date of Appointment : |
01.04.2005 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Equity Shareholders |
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Mr. N S Narendra |
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150000 |
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Mr. Cauvery Narendra |
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140990 |
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Firepro Employees Trust |
|
9000 |
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Total
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299990 |
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Preference
Shareholders |
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M/S. Ambadevi Mauritius Holdings Limited |
|
20978 |
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M/S Ashoka Investment Holdings Limited |
|
69928 |
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Total
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|
90906 |
Equity Shares Breakup (Percentage of Total Equity):
|
Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
97.00 |
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2 |
Others |
3.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Importer and Installation of Fire Protection Systems. |
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Imports : |
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Countries : |
U.S.A. |
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Terms : |
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Selling : |
Advance Payment
and Customer Based Credit Line |
GENERAL
INFORMATION
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Suppliers : |
· Notified, U.S.A. ·
Xtron, U.S.A. |
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Customers : |
IT Parks · International Technology Park Limited Whitefield, Bangalore · Makino Asia Technical Centre, Whitefield, Bangalore · Toyota Technopark India Limited, Bidadi · Prasad Technology Park Limited, Bangalore Hospitality Industry · Royal Orchids Resorts, Harsha Hotels, Bangalore · Welcom Group Hotel Grand Bay, ITC Group, Vishakapatanam · Hyagreeva Hotels and Resorts, Bangalore · K. Raheja Hotels and Estates Private Limited · The Oberoi, Bangalore · Topkapi Restaurant, Bangalore · Chola Sheraton, Chennai · The Leela Palace, Bangalore · The Taj Residency The Corporates · Intel, Bangalore · Digital, Bangalore · Microsoft, Bangalore · 24/7 Customer.com, Bangalore · Wipro Limited, Bangalore · Huawei, Bangalore · Motorola India Electronics Limited, Bangalore · Honeywell India Software Operation, Bangalore · Lucent India Technologies, New Delhi · Max India Limited, New Delhi · Cisco System (India) Private Limited, Bangalore · Larsen and Toubro Limited, Bangalore · Verifone India Limited, Bangalore · BPL Systems India Limited, Corporate Office, Bangalore · Max Healthcare Limited Corporate Office, New Delhi · Tata IBM, Corporate Office, Bangalore · Kirloskar Investments and Finance Limited, Bangalore · Max Newyork Life Insurance, New Delhi · BPL U.S West Cellular Telecommunication, Coimbatore · HDFC Corporate Office Complex, Nagarwala Engineers Co. Private Limited, Bangalore · Max Newyork Life Insurance, Chandigarh · Videsh Sanchar Nig Limited, Bangalore · Wipro Global Rand D · Oracle Software India (Private) Limited Bangalore · Canara Bank, Bangalore · DELL International Services · Infosys Technologies Limited · Texas Instruments, Bangalore Commercial Complexes · Prestige Meridian I and II, Prestige Group, Bangalore · Casa Ansal, Ansal Buildwell Limited Bangalore · Embassy Square, Embassy Group, Bangalore · Embassy Diamante, Embassy Group, Bangalore · Eden Park, Shanti Group, Bangalore · Owens Coring, Monalisa Interior Decorators (Private) Limited Mumbai · H.M.G Ambassador, H.M.G Engineering Limited, Bangalore · Ashok Heights, Ashok Leyland Properties Limited Bangalore · Prestige Estates Projects (Private) Limited · The Forum Mall Industrial · Delhi Metro Rail, Delhi · Astra Zeneca, Bangalore · Glidmeister Machine, (Plant Engineering Department), Motor Industries Company Limited (MICO) · Bunzl India Private Limited, Bangalore · Lapp Kabel India Limited, Bangalore · Parle Products Limited, Bangalore · Novo Nordisk Enzymes Private Limited Bangalore · Powergrid Corporation of India, Bangalore · Inlac Granston Limited ( An LML Vespa Group Company), Bangalore · STI Granites Limited, Bangalore · Molex India Limited · BPL-PTI Chemical Industries Limited, Bangalore · L.R.D.E · Smithkline Beecham (India) Limited, Bangalore · Aurigene Discovery Technologies Limited ·
Hospitals · Max Clinic/ Medcentre, Max Healthcare Limited New Delhi · Cauvery Medical Center Limited, Bangalore · Manipal Heart Foundation · Super Speciality Hospital, Gokula Education Foundation, Bangalore · Prestige Monte Carlo, Bangalore · The summit- India Builders Corporation, Bangalore · The Club House, Diamond District, Bangalore · The Embassy, Embassy Builders, Bangalore · Ansal Krishna – II, Ansal Buildwell Limited Bangalore · Adarsh Palace, Adarsh Developers, Bangalore · Adarsh Manor, Adarsh Developers, Bangalore · Adarsh Garden, Adarsh Developers, Bangalore · Shanti Park, Shanti Group, Bangalore · Golden Orchid, Shanti Group, Bangalore · National Games Housing Project, Bangalore · Adarsh Residency, Adarsh Developers, Bangalore · R.J. Gardens, Sun City Developers (Private) Limited, Bangalore · South City, Larsen and Toubro Limited, Bangalore · Embassy Tranquil, Embassy Constructions and Developments Private Limited, Bangalore · Vijaya Bank Group Housing, Bangalore · Aspen Gardens, S.I. Property Limited, Bangalore · Temple Court, Diners Business Service Leasing and Finance Limited, Bangalore · Ramya Residency, Ramya Housing and Finance Limited · Purvankara Group Others · American School, Bangalore · Department of Physics (Bio Informatics Center) Indian Institute of Science, Bangalore · C.V.R.D.E. Madras “ Laboratory” Complex Combat Vehicle Research Development Establishment · Reserve Bank Of India, Bangalore · The Printers (Mysore) Limited, Managlore · Universal Projects, Bangalore · Jagatjit Industries Limited, Gurgaon · Sundaram Consultants, Bangalore · Bangalore City Corporation · William Carey Center, Bible Society of India ·
J.J.M Education Society, Davangere |
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No. of Employees : |
75 |
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Bankers : |
· Canara Bank Cantonment Branch, No. 88, M. G. Road, Bangalore – 560001, Karnataka,
India · Punjab National Bank Ing Vysya Bank Standard Chartered Bank Address: Large
Corporate Branch, Centenary Building,. No 28 M G Road, Bangalore – 560 001,
Karnataka, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sharma Moras
& Company Chartered
Accountants, |
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Address : |
1096, 1st
Floor, Triveni Road, K N Extn. Yeshwantpur, Bangalore – 560 022, Karnataka,
India |
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Associates/Subsidiaries : |
· Saffire, Bangalore · Saffire Devices Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity shares |
Rs. 100/- each |
Rs. 50.000 millions |
|
90906 |
Preference
Shares |
Rs. 5500.19/- each |
Rs.500.000 millions |
|
|
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Total |
Rs.550.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
299990 |
Equity shares |
Rs. 100/- each |
Rs.29.999 millions |
|
90906 |
Preference
Shares |
Rs. 5500.19/- each |
Rs. 500.000 millions |
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|
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Total |
Rs.529.999 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
529.999 |
29.999 |
19.999 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
81.414 |
33.504 |
9.326 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
611.413 |
63.503 |
29.325 |
|
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LOAN FUNDS |
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1] Secured Loans |
274.744 |
117.398 |
43.797 |
|
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2] Unsecured Loans |
10.206 |
3.478 |
0.000 |
|
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TOTAL BORROWING |
284.950 |
120.876 |
43.797 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
896.363 |
184.379 |
73.122 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
85.897 |
77.988 |
7.566 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
7.168 |
1.832 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
29.356
|
41.335 |
|
|
|
Sundry Debtors |
697.722
|
204.775 |
|
|
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Cash & Bank Balances |
521.132
|
8.914 |
148.533 |
|
|
Other Current Assets |
0.000
|
0.000 |
|
|
|
Loans & Advances |
23.503
|
22.846 |
|
|
Total
Current Assets |
1271.713
|
277.870 |
148.533 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
424.691
|
164.592 |
|
|
|
Provisions |
43.724
|
8.719 |
|
|
Total
Current Liabilities |
468.415
|
173.311 |
82.977 |
|
|
Net Current Assets |
803.298
|
104.559 |
65.556 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
896.363 |
184.379 |
73.122 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
1095.902 |
553.140 |
259.887 |
|
|
Other Income |
0.291 |
0.000 |
0.000 |
|
|
Total Income |
1096.193 |
553.140 |
259.887 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
92.409 |
40.054 |
12.973 |
|
|
Provision for Taxation |
33.098 |
15.870 |
4.467 |
|
|
Profit/(Loss) After Tax |
59.311 |
24.184 |
8.506 |
|
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Financial Charges |
37.379 |
15.881 |
NA |
|
|
Depreciation & Amortization |
6.380 |
6.713 |
NA |
|
Total Expenditure |
43.759 |
22.594 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total
Income |
(%) |
5.41 |
4.42 |
3.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.43 |
7.24 |
4.99 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.81 |
11.25 |
8.31 |
|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.63 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.23 |
4.63 |
4.32 |
|
|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.71 |
1.60 |
1.79 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U28999KA2001PTC029937 |
|
Name of the company |
FIREPRO SYSTEMS PRIVATE LIMITED |
|
Address |
No. 10 & 11, Service Road, Hal 2nd Stage, Indiranagar,
Bangalore – 560008, Karnataka, India |
|
This Form is for |
Creation of Charge |
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Type of Charges |
· Book Debts · Movable Property |
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Particular of the charge holder
|
Punjab National Bank Ing Vysya Bank
Standard Chartered Bank Address: Large Corporate Branch, Centenary
Building,. No 28 M G Road, Bangalore – 560 001, Karnataka, India Email ID: tr_jairam@vsnl.com |
|
Nature or description of the instrument creating charge |
Joint Deed of Hypothecation Pari passu Letters exchanged between banks (Both the above pertain to the same
charge) |
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Date of the instrument creating charge |
07.03.2007 |
|
Amount Secure by the charge |
Rs. 1300.000 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
Rate
of interest: As stipulated from time to time by respective banks. Terms of repayment: As per the terms of sanction prescribed by respective banks Margin: As may be prescribed from time to time. Extent and operation of the
charge: The charge shall operate to the extent of Rs. 1300.000 millions plus
interest, commission, costs, expenses and other charges thereon. Others: The present limits of Rs. 1300.000 millions are extended by the 3
banks viz, Punjab National Bank, LCB, MG Road, Bangalore Rs. 500.000
millions; ING VYSYA Bank Limited No. 22 MG Road, Bangalore Rs. 500.000
millions and Standard Chartered Bank, Raheja Towers, No. 26/27 MG Road, Bangalore
Rs. 300.000 millions under multiple banking arrangement the said arrangement
does not constitute any consortium as such and only for operational reasons a
common document viz joint deed is executed. |
|
Short particulars of the Property charged |
First pari passu charge on the current assets present and future
comprising stocks of raw materials, stock in process, semi finished goods and
finished goods, etc, and book debts and whole of the movable fixed assets viz
plant and machinery, stores and spares, furniture , fixtures, office
equipment, computers and accessories and all movable block assets both
present and future stored / installed at company’s premises at No. 10 and 11,
Services Road, HAL II Stage, Indiranagar, Bangalore 8 or wherever else. |
|
Name of the
company |
FIREPRO SYSTEMS PRIVATE LIMITED |
|
Presented
By |
FIREPRO SYSTEMS
PRIVATE LIMITED |
|
1) Date and
description of instrument creating the change |
09.10.2002 Common
Hypothecation Agreement (Doc No.
12.12.2002) |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 30.000
millions (CC – Rs. 20.000
millions , ILC (DA/ DP) Rs. 1.500 millions, FLC (DA/DP) – Rs. 1.500 millions
and BG – Rs. 7.000 millions) |
|
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
all the present and future of stocks of raw materials, work in process,
finished goods and semi finished goods, book debts, outstanding money
receivables , bills, claims, etc and all fixed assets, furniture and fixture,
office equipment, computers, etc belonging to the company. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 2.75% p.a over PLR with a
minimum of 14.25% p.a Repayable on Demand |
|
5) Name and
Address and description of the person entitled to the charge. |
Canara Bank Address: Cantonment Branch, 88, Mg Road,
Bangalore – 560 001, Karnataka, India |
|
6) Date and brief description of instrument
modifying the charge |
21.07.2005 Supplemental
Common Hypothecation Agreement |
|
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. |
Limit Increased
from Rs. 182.500 millions to Rs. 262.500 millions (CC – Rs. 120.000 millions,
BG – ILC/ FLC / (DA/DP) Rs. 100.000 millions, BG /ILC/FLC (DA/DP) Term Loan
Rs. 42.500 millions). All other terms, conditions and securities continue for
the increased limit of Rs. 262.500 millions. |
COMPANY PROFILE:-
Subject was incorporated in 1992. The business focus initially was in the area of fire safety and protection - primarily in the sourcing and supply of stand alone equipment. As the footprint on fire protection grew in complexity and scale, Subject moved into intelligent solutions that could often work in larger environments.
The Rs 5 million start-up was now viewing a larger canvas, looking at bigger opportunities and working on projects that stretched the company in terms of vision, resource and growth potential.
Subject’s current turnover has crossed many milestones since and its portfolio has logged over 350 successfully implemented projects.
SERVICES
Subject offers a range of services to compliment the diverse solutions portfolio, it offers to all its clientele.
The range of services offered by the company systems include:
· Feasibility Study
· Design
· Procuring and Supply
· Installation
· Systems Integration
· Quality Control and Commissioning
· Annual Maintenance Contract (AMC)
Alliances
One of the real measures of subject’s reliability and track record is the host of global leaders with whom subject has forged alliances. The wide spread experience and expertise of subject when combined with the world's leading safety and security products becomes an unbeatable solution. In effect, the synergies provided by these associations are expected to elevate subject as a premier Total Safety Solutions Company in the country.
Ansul, USA
Restaurant Fire Protection Systems
BOSCH
CCTV Surveillance and PA Systems
GE Security
Access Control, CCTV Surveillance,
Analog Addressable Fire Detection, Alarm and Intrusion Alarm Systems
Honeywell
Access Control Systems
System Sensor, USA
Conventional Fire Detection and
Alarm Systems
Trend Control Systems
Limited
Building Automation Solutions
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.39.73 |
|
UK Pound |
1 |
Rs.78.96 |
|
Euro |
1 |
Rs.59.60 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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 |
|