MIRA
INFORM REPORT
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Report Date : |
23.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
FRESH AND HONEST CAFÉ LIMITED |
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Registered Office : |
Old No. 5, New No. 7, 3rd Street, Dr. Radhakrishnan Salai, Mylapore,
Chennai 600 004, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.05.1997 |
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Com. Reg. No.: |
38099 |
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CIN No.: [Company
Identification No.] |
U55101TN1997FLC038099 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEF02145D |
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PAN No.: [Permanent
Account No.] |
AAACF1516H |
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Legal Form : |
Closely Held Public Limited Liability Company. |
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Line of Business : |
Manufacturer and Exporter of Coffee Beans, Coffee Machines and Other
Beverages. |
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 890000 |
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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 and reputed company having fine track. Directors are reported as experienced
and respectable businessmen. Trade relations are 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. |
LOCATIONS
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Registered Office/ Head Office : |
Old No. 5, New No. 7, 3rd Street, Dr. Radhakrishnan Salai,
Mylapore, Chennai 600 004, Tamilnadu, India |
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Tel. No.: |
91-44 - 28475975 / 28475978 / 28475973 / 28470541 / 28472634 |
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Fax No.: |
91-44 - 28475972 |
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E-Mail : |
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Website : |
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Corporate Office : |
No. 16-F, IInd Floor, Whites Road, Royapettah, Chennai –600 004, Tamil
Nadu, India |
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Tel. No.: |
91-44-28527707/28555731 |
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Tele Fax No.: |
91-44-28555732 |
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E-Mail : |
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Factory : |
Soya Division Located at: Guindy, Tamilnadu, India |
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Branches : |
* 13, Muthu Pandian Avenue, Santhome, Chennai – 600 004, Tamil Nadu, India * Bangalore, Karnataka, India |
DIRECTORS
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Name : |
Mr. C R Sitaraman |
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Designation : |
Director |
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Address : |
5, Subbarayar Avenue, Abhiramapuram, Chennai 600 018, Tamilnadu, India
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Date of Birth/Age : |
04.09.1948 |
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Date of Appointment : |
18.11.2002 |
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Name : |
Mr. K V Nithyavathe |
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Designation : |
Director |
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Address : |
W617, Anna Nagar West Extension, Chennai 600 040, Tamilnadu, India |
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Date of Birth/Age : |
13.02.1966 |
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Date of Appointment : |
21.12.2002 |
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Name : |
Ms. Padmavathy Suresh |
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Designation : |
Director |
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Address : |
07, Rohini Gardens, R A Puram, Chennai 600 28, Tamilnadu, India |
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Date of Birth/Age : |
02.04.1967 |
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Date of Appointment : |
07.01.2004 |
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Name : |
Mr. V Srinivasan |
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Designation : |
Director |
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Address : |
Flat 2B, K G Central Court, 9-11, Jagadamba L Street, T Nagar, Chennai
600 017, Tamilnadu, India |
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Date of Birth/Age : |
15.05.1957 |
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Date of Appointment : |
28.07.2005 |
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Name : |
Mr. D Chandrasekhar |
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Designation : |
Director |
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Address : |
No. 1, Balaji Avenue, 3rd Street, Chennai 600 017,
Tamilnadu, India |
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Date of Birth/Age : |
15.10.1948 |
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Date of Appointment : |
28.07.2005 |
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Name : |
Mr. Shivashankar Ramachandran |
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Designation : |
Whole Time Director |
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Address : |
Old No. 92, New No. 78, 5th Street, Padmanabha Nagar,
Adyar, Chennai 600 020, Tamilnadu, India |
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Date of Birth/Age : |
14.05.1965 |
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Date of Appointment : |
09.08.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. R Chinnakannan |
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999994 |
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Senthil Trade and Business Links Private Limited |
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1 |
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Hi-Tech Traders Private Limited |
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1 |
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Hi-Tech Property Development and Enterprises Private Limited |
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1 |
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Senthil Business Associates Private Limited |
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1 |
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Hi-Tech Housing Projects Private Limited |
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1 |
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Sterling Information Technology Park Private Limited |
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1 |
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Names of Shareholders |
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Percentage of
Holding |
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Foreign Holdings [Foreign Institutional Investor(s), Foreign
Companie(s), Foreign Financial Institution(s), Non-Resident Indian(s), or
Overseas Corporate Bodies or Others |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Coffee Beans, Coffee Machines and Other
Beverages. |
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Products with ITC Code : |
Coffee Vending Soya products Coffee Powder – 851617 |
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GENERAL
INFORMATION
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Customers : |
* Citibank * Philips * HP * Robert Bosch * Microsoft * Dr. Reddy's Labs * TCS * Standard Chartered Bank * Reliance Industries * Deutsche Bank * Google India * Saint Gobain Glass * Taj Group of Hotels * Oberoi Group of Hotels * The Marriott Group of Hotels * Leela Group of Hotels * The Radisson Group of Hotels * ITC Group of Hotels * Shangri-La Group of Hotels * Hyatt Regency, Kolkata * Hyatt Regency, New Delhi * Intercontinental - The Grand, New Delhi * Intercontinental Eros, New Delhi * The Apeejay Surrendra Park Hotels * Le Meridien, Mumbai * Le Meridien, New Delhi * Southern, Western, Eastern and Metro Railways * Airports at Hyderbad, Pune and other major cities * Bus stations across India * Tourism departments of Tamil Nadu and Karnataka * Prominent educational institutions, Law offices, Courts, Government hospitals etc. * Sundaram Medical Foundation * Apollo Hospitals * Breach Candy Hospital * Tata Memorial Hospital * Sabarimala * Sri
Sai Baba Ashram at Puttaparathy and at Whitefield, Bangalore |
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No. of Employees : |
About 60 |
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Bankers : |
* Industrial
Development Bank of India Limited, IDBI Towers, WTC Complex, Cuffe Parade,
Mumbai 400 005, Maharashtra, India * Industrial Development
Bank of India Limited, 115 Anna Salai, Saidapet, Chennai 600 015, Tamilnadu,
India * Punjab
National Bank, 17, Rajaji Salai, Chennai 600 001, Tamilnadu, India * Vijaya Bank, 123, Marshalls Road, Egmore,
Chennai – 600 008, Tamilnadu, India * ICICI Bank Limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Geetha Suryanarayanan Chartered Accountants |
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Address : |
2nd Floor, Temple Towers, 672, Anna Salai, Nandanam, Chennai
600 035, Tamilnadu, India |
CAPITAL STRUCTURE
As on 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 millions |
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600000 |
Preference Shares |
Rs. 100/- each |
Rs. 60.000 millions |
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Total |
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Rs. 75.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1316831 |
Equity Shares |
Rs. 10/-
each |
Rs. 13.168
millions |
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600000 |
Equity Shares |
Rs. 100/-
each |
Rs. 60.000
millions |
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Total |
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Rs. 73.168 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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71.560 |
70.000 |
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2] Share Application Money |
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0.000 |
50.550 |
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3] Reserves & Surplus |
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150.034 |
116.713 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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221.594 |
237.263 |
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LOAN FUNDS |
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1] Secured Loans |
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96.787 |
147.554 |
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2] Unsecured Loans |
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225.944 |
111.781 |
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TOTAL BORROWING |
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322.731 |
259.335 |
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DEFERRED TAX LIABILITIES |
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29.935 |
35.408 |
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TOTAL |
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574.260 |
532.006 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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409.742 |
383.418 |
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Capital work-in-progress |
|
34.703 |
23.932 |
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INVESTMENT |
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0.000 |
0.125 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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46.991 |
41.508 |
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Sundry Debtors |
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92.238 |
81.982 |
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Cash & Bank Balances |
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44.180 |
10.373 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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54.534 |
71.660 |
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Total
Current Assets |
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237.943 |
205.523 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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105.227 |
79.358 |
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Provisions |
|
3.088 |
2.009 |
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Total
Current Liabilities |
|
108.315 |
81.367 |
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Net Current Assets |
|
129.628 |
124.156 |
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MISCELLANEOUS EXPENSES |
|
0.187 |
0.375 |
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TOTAL |
|
574.260 |
532.006 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
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Sales Turnover |
|
766.968 |
635.104 |
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Other Income |
|
4.426 |
5.335 |
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Total Income |
|
771.394 |
640.439 |
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Profit/(Loss) Before Tax |
|
(18.913) |
27.852 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
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(18.913) |
27.852 |
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Expenditures : |
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Raw Material Consumed |
|
347.985 |
264.694 |
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Increase/(Decrease) in Finished Goods |
|
0.199 |
(1.576) |
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Salaries, Wages, Bonus, etc. |
|
52.343 |
36.739 |
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Managerial Remuneration |
|
4.491 |
2.333 |
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Payment to Auditors |
|
1.052 |
0.515 |
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Interest |
|
23.348 |
15.425 |
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Insurance Expenses |
|
1.698 |
1.184 |
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Power & Fuel |
|
2.786 |
1.827 |
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Depreciation & Amortization |
|
63.268 |
58.891 |
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Other Expenditure |
|
293.137 |
232.555 |
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Total Expenditure |
|
790.307 |
612.587 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
|
(2.45) |
4.34 |
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Net Profit Margin (PBT/Sales) |
(%) |
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(2.45) |
4.34 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
(2.77) |
4.54 |
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Return on Investment (ROI) (PBT/Networth) |
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(0.08) |
0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
3.08 |
2.58 |
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Current Ratio (Current Asset/Current Liability) |
|
|
2.19 |
2.52 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
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Name of the company |
FRESH AND HONEST CAFÉ LIMITED |
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Presented By |
Mr. C R Sitaraman, Director |
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1) Date and description of instrument creating the change |
Agreement of hypothecation of assets dated 23.03.2005 Hypothecation agreement of movable assets dated 23.03.2005 Agreement of hypothecation of current assets dated 23.03.2005 Deed of hypothecation to secure FLC on D/A and D/P basis dated 23.03.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
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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 |
First and exclusive charge on stocks of raw material, stock-in-process, packing materials, by-products, stores and spares, by-products and finished goods and receivables and other current assets and automated vending machines acquired / to be acquired and all other movable assets of the company, present and future, lying at the factory premises and other godowns. Bills of exchange payable with tenor up to 360 days accompanied by full set of documents including airway bills covering dispatch of machinery All current assets of the company, both present and future and such other securities as may be accepted by the bank |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Facility for a period of 5 years Interest @ 10.75% p.a. @ monthly rests presently at and with an additional interest of 2% p.a. on default |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National Bank 17, Rajaji Salai, Chennai 600 001, Tamilnadu, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
Fixed Assets :
*
Coffee Machine
*
Plant and Machinery
*
Computer
*
Electrical Fittings
*
Furniture and Fittings
*
Vehicles
*
Leased Building – Porur Factory
*
Leased Building – Kolathuvanchery
*
Leased Building – Guindy Factory
Contingent
Liabilities
|
|
2003-2004 |
2002-2003 |
|
Outstanding guarantee / Counter guarantee furnished to banks * |
Rs. 2.619
millions |
Rs. 2.499
millions |
|
Estimated amount of contracts reaming to be executed on capital
account |
-- |
Rs. 7.200 millions
|
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Disputed liability in respect of sales tax |
Rs. 7.601
millions |
Rs. 2.010
millions |
* In addition to the above the interest arising on account of the non
fulfillment of export obligation under EPCG scheme amounts to Rs. 1.150 millions
(approx)
The manufacturing unit of Soya Division has been shifted from Porur to
Guindy and it has commenced production at Guindy from 01.07.2003.
The total insurance claim received on account of the fire accident in one
of the branch office if the company is recognized as revenue income in Profit
and Loss Account.
The value of fully damaged consumables and spares and the written down
value of the fully damaged asset are treated as consumption / Loss in the
Profile and Loss Account. The partially damaged assets are put to use after
necessary servicing.
Subject began with a refreshing cup of perfectly brewed Coffee.
Subject is a part of the Sterling Group of Companies and has installed
over 500 coffee brewing machines across the country. The uniqueness of its
operation is that it install, service and maintain the machine without any
investment on the part of the customer. It also supply roasted coffee beans and
other consumables to all its installations.
As a part of Expansion subject it is now venturing into Soy Division by
introducing Soya Milk and Tofu for the first time in India using
state-of-the-art processing equipment patented by Prosoya Inc., Canada.
Advanced technology that gives milk an incredible smooth and creamy texture
with no be any flavour.
Nutritional and Medical benefits of soy proteins are well known. Soya
food and beverages are a rich source of proteins and minerals, and are free
from cholesterol and lactose. Their consumption reduces the risk of heart
disease, cancer and osteoporosis.
Subject offers advanced technology and equipment for producing great
tasting soymilk beverages, Tofu and other soya foods; similar to those produced
by its existing customers and licensees in 35 countries.
Extracted from fresh Soybean, using state of the art Canadian
Technology. 100% Vegetarian Rich in Soy Protein Low in fat and Calories,
Cholesterol and Lactose free.
AS PER WEB:
Milestone
Fresh & Honest
began as a small division of Sterling Horticulture & Research Limited, with
five imported Swiss Egro machines that were brought to India by their Chairman
for the Ahara exhibition in Delhi during February, 1995. These machines were
installed in some of the five star hotels in Delhi.
The success of the
venture was mainly due to the unique franchising system whereby world class
freshly brewed coffee vending machines were given to users on a capital-free
basis with an assured supply of quality roasted coffee beans and 24-hr
maintenance. The user paid per cup of coffee vended. In essence, he had a
capital-free business wherein he paid for the usage out of his earnings.
The initial thrust was on Star Hotels and from a single machine in many
of the hotels the usage multiplied to several machines in the same hotel, which
reflected their confidence in their service, quality and concept.
The next major breakthrough came with the installation of the machines
in Chennai Central Railway Station and later on at Mumbai Churchgate and
Victoria Terminus Railway stations. This happened in late 1996 and the next
logical step was airports and again Chennai airport was the first to have the
installations. At all these locations the Company operated the machines
directly.
These locations really opened up public awareness to these machines and
the appreciation of quality led to many enquiries and installations.
The MNCs and major hospitals constituted another important segment of important
large-scale customers because of the convenience, quality, pricing, besides
hygiene.
In 1997 the Company became an independent entity under the name Fresh &
Honest Cafe Limited. As the name implies, the product dispensed has always been
fresh and the various backup claims made have been honest and adhered to.
The company was the first to introduce from one single machine several
other hot beverages like tea, soups, hot chocolate, etc., and each product was
the best in the market. Tea was from Twinings of England, natural vegetable
soups and hot chocolate were from the world-famous Swiss companies imported for
exclusive use on the machines of Fresh & Honest and not available to any
other such companies.
In 2000, the Company launched a separate division for soya milk and soya
products with a patented Canadian technique - again, a first-time achievement
in India - and established a modern plant in Chennai.
Naturally with such an ever-increasing installation base, the company
went for its own roasting plant, packaging units, etc., and again the
facilities installed were the best and world-class.
In 2003, the company launched a range of cold beverages including a
variety of Swiss-imported milkshakes, ice teas and cold chocolate, besides the
usual cold coffee.
The company is proud that FHCL name has become synonymous with fresh quality
coffee in India, and that the hospitality industry and MNCs today automatically
choose us for service.
In 2004, obtained ISO 9001:2000 certification.
In 2005, obtained HACCP Certification for the factory.
In 2006, their factory became a Fully-Automated plant with pneumatic
controls.
Profile
Coffee buffs are a unique breed - very demanding, very choosy and
quality-conscious to the last drop. Yet, across the globe, for over a century,
the Italian brand LavAzza has been delighting even the most stringent of coffee
connoisseurs with its inimitable range.
To the discerning coffee drinkers of India, Fresh & Honest Café
Limited (FHCL), a decade-old pioneer in the Indian coffee vending industry,
(and now a part of the Luigi LavAzza S.p.A. group), brings the joy of rich
traditional taste in every sip.
There is a lot that goes into a cuppa from FHCL - the finest raw
materials, a peerless technique, years of experience, and above all, a passion
to feast every palate. And it is this passion that propels us to deliver the
finest quality coffees across the country. The result, needless to say, is the
invigorating aroma of success.
The LavAzza Heritage
For well over a century, one brand has conquered the hearts of millions
of coffee lovers across the globe. 'LavAzza' - a name synonymous with
perfection, quality and uniqueness. And, without a shade of doubt, a name that
springs to the lips of every connoisseur who wishes to savor the very best of
coffees.
Right from the moment Lavazza was born in 1864, it has set a distinct
class for itself, which remains unsurpassed. Founder Luigi Lavazza, had a lofty
objective - to spread the aroma and quality of Italian espresso around the
world. He invented the concept of the blend, the intricate art of mixing
coffees of different origins to achieve a well-balanced taste in every cup. The
result? Lavazza today stands as the symbol and spirit of Italian espresso.
The sheer strength of its people's skill and experience, the use of the
finest raw materials and the employment of advanced technological resources are
the secrets of Lavazza's stunning European success. Now in India, Fresh &
Honest Café Limited (FHCL) brings the popular Lavazza range of Italian coffees
to the discerning coffee drinkers.
Partners
*
Thermoplan, Switzerland
Activity : Leading coffee vending machine manufacturer & supplier to
Starbucks
www.thermoplan.ch
*
Egro, Switzerland
Activity : Leading coffee vending machine manufacturer
www.egro.ch
*
Domaco,Switzerland
Activity : Leading Pharma company supplying us with low-calorie health
beverages like Milkshakes, Chocolate & Ice tea
www.domaco.ch
*
Haco, Switzerland
Activity : Leading instant food manufacturer
www.haco.ch
*
Probat Werke, Germany
Activity : Leading turnkey supplier of machinery to coffee industry
www.probat.com
*
Animo
www.animo.nl
News
Alive! filter
coffee, Soyfresh milk and tofu now available in all Southern States, Mumbai and
Pune
Fresh and Honest Café Limited, the Indian market leader in the freshly
brewed coffee vending business launched 'Alive!' filter coffee powder, its new
initiative in the retail market segment in March last year (2006). The
extraordinary success of the company's coffee vending division has carved a
natural entry path for their foray into the Packaged filter coffee segment.
'ALIVE!', Fresh & Honest's latest offering is a rich, roast & ground
coffee, made from the best of Indian beans with a balanced blend of 70% coffee
and 30% chicory. The company uses state-of-the-art and proven technology right
from the sourcing of raw beans to roasting, blending, grinding of beans into
powder and blending of coffee and chicory, to provide a supreme coffee
experience to the coffee connoisseur who prefers the taste of authentic filter
coffee.
The fresh coffee beans that go into the preparation of 'Alive!', are subject to
both drum and air roasting processes. Various grades of roasted beans are
blended using Norweigan make Forberg mixers. These mixers are being used for
the first time in the country and ensure consistency in blending. Grinding
equipment from world leaders - Probat of Germany are used to ensure better
aroma retention in the ground powder through a unique chilling process. Also,
each grade of coffee bean is individually roasted to release its full flavour,
thereby providing a rich filter coffee with better yield, aroma, strength and
colour that would serve the right blend to coffee enthusiasts who prefer
traditional filter coffee.
'Alive!', which is packed in high optical density metallised polyester material
with nylon poly inner layer for better moisture barrier and aroma retention
properties, is available in 50, 100, 200 and 500 gms retail packs in the
market.
The brand is currently available in Tamil Nadu, Karnataka, Andhra Pradesh,
Kerala, Mumbai and Pune. The brand will soon be introduced in major metros in
the rest of India where there is a skew of South Indian population.
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.39.81 |
|
UK Pound |
1 |
Rs.78.94 |
|
Euro |
1 |
Rs.60.12 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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. |
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 |
|