MIRA
INFORM REPORT
|
Report Date : |
30.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ATHARVA METAL CRAFT PRIVATE LIMITED |
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|
|
|
Registered Office : |
# 2904, Link Road, Near Samrala Chowk, Ludhiana – 141003, Punjab |
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|
Country : |
India |
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|
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|
Date of Incorporation : |
27.02.2008 |
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|
Com. Reg. No.: |
31704 |
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|
CIN No.: [Company
Identification No.] |
U28112PB2008PTC031704 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
JLDA03523C |
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|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business : |
Manufacturer of Aluminium and Allied products of all kinds |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
New Company |
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|
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company promoted by experienced, respectable and
resourceful promoters. The project is under implementation. However the
financial position of its sister concern seems to be satisfactory. In view of the above, it would be advisable to take adequate
securities and guarantees of its sister concerns and directors while dealing
with the subjects. |
INFORMATION PARTED
BY
|
Name : |
Mr. Viprender Aggarwal |
|
Designation : |
Director |
|
Contact No.: |
91-9878873601 |
|
Date : |
26.06.2008 |
LOCATIONS
|
Registered Office : |
# 2904, Link Road, Near Samrala Chowk, Ludhiana –
141003, Punjab, India |
|
Tel. No.: |
91-161-5026443 |
|
Mobile No.: |
91-9876800825 / 9878873601 |
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Fax No.: |
91-161-4632043 |
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E-Mail : |
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Area : |
13000 sq. yard |
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Factory : |
Village Rangian, 25th Milestone, Ludhiana- Malerkotla
Highway, Near ESSAR Petrol Pump, Ludhiana – 5026443, Punjab, India |
DIRECTORS
|
Name : |
Mr. Viprender Aggarwal |
|
Designation : |
Director |
|
Address : |
3168, Dugri, Phase – II, Ludhiana, Punjab, India |
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PAN No.: |
AAEPA1404A |
|
Date of Birth/Age : |
38 Years |
|
Qualification : |
Graduate |
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|
|
|
Name : |
Mr. Rohit Goyal |
|
Designation : |
Director |
|
Address : |
19, Rajguru Nagar Extn. Ludhiana, Punjab, India |
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PAN No.: |
AAYPG0552F |
|
Date of Birth/Age : |
33 Years |
|
Qualification : |
Graduate |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium and Allied products of all kinds |
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Exports : |
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|
Products : |
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|
Imports : |
|
|
Products : |
|
GENERAL
INFORMATION
|
No. of Employees : |
2 |
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|
|
|
Bankers : |
Corporation Bank |
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|
|
|
Banking
Relations : |
- |
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|
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|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
Not Available |
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
SIDHI
VINAYAK ALLOY INDUSTRIES [JAMMU]
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
36.556 |
16.628 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
36.556 |
16.628 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
15.162 |
15.267 |
|
|
2] Unsecured Loans |
|
0.000 |
3.565 |
|
|
TOTAL BORROWING |
|
15.162 |
18.832 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
51.718 |
35.460 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
7.877 |
5.546 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
18.061 |
15.631 |
|
|
Sundry Debtors |
|
19.437 |
6.013 |
|
|
Cash & Bank Balances |
|
1.787 |
3.870 |
|
|
Other Current Assets |
|
0.000 |
1.515 |
|
|
Loans & Advances |
|
8.125 |
1.562 |
|
Total Current Assets |
|
47.410 |
28.591 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
3.569 |
1.677 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities |
|
3.569 |
1.677 |
|
|
Net Current Assets |
|
43.841 |
26.914 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
51.718 |
32.460 |
|
PROFIT & LOS S
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
302.363 |
99.064 |
|
|
Other Income |
|
0.007 |
4.074 |
|
|
Total Income |
|
302.370 |
103.138 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before
Tax |
|
57.955 |
16.823 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
57.955 |
16.823 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Manufacturing Expenses |
|
4.669 |
0.726 |
|
|
Salaries, Wages, Bonus,
etc. |
|
0.484 |
0.286 |
|
|
Payment to Auditors |
|
0.075 |
0.034 |
|
|
Bank Interest |
|
4.138 |
1.474 |
|
|
Insurance Expenses |
|
0.459 |
0.184 |
|
|
Depreciation &
Amortization |
|
0.974 |
0.553 |
|
|
Other Expenditure |
|
233.616 |
83.058 |
|
Total Expenditure |
|
244.415 |
86.315 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
19.17 |
16.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
19.17 |
16.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
104.83 |
49.29 |
|
|
|
|
|
|
|
Return on Investment
(ROI) (PBT/Networth) |
|
|
1.59 |
1.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.51
|
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current
Liability) |
|
|
13.28 |
17.04 |
SIDHI
VINAYAK ALLOY INDUSTRIES [GURGAON]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
0.301 |
0.162 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.301 |
0.162 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.301 |
0.162 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
3.425 |
|
|
Cash & Bank Balances |
|
0.078 |
0.025 |
|
|
Other Current Assets |
|
0.239 |
0.000 |
|
|
Loans & Advances |
|
0.007 |
0.605 |
|
Total
Current Assets |
|
0.324 |
4.055 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.023 |
3.893 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.023 |
3.893 |
|
|
Net Current Assets |
|
0.301 |
0.162 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.301 |
0.162 |
|
PROFIT & LOS S
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
|
|
|
|
|
|
Sales Turnover |
|
35.254 |
19.358 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
35.254 |
19.358 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.140 |
0.162 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
0.140 |
0.162 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Salaries, Wages, Bonus, etc. |
|
0.120 |
0.096 |
|
|
Legal and Professional Expenses |
|
0.018 |
0.022 |
|
|
Insurance Expenses |
|
0.004 |
0.005 |
|
|
Other Expenditure |
|
34.972 |
19.073 |
|
Total Expenditure |
|
35.114 |
19.196 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
0.40 |
0.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.40 |
0.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
43.21 |
4.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.47 |
1.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.08 |
24.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
14.09 |
1.04 |
PUNJAB GAS
CYLINDERS LIMITED
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.836 |
4.836 |
4.836 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.552 |
1.007 |
2.336 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.388 |
5.843 |
7.172 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.638 |
9.138 |
11.680 |
|
|
2] Unsecured Loans |
5.000 |
0.000 |
7.500 |
|
|
TOTAL BORROWING |
9.638 |
9.138 |
19.180 |
|
|
DEFERRED TAX LIABILITIES |
1.717 |
1.916 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
17.743 |
16.897 |
26.352 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.263 |
10.612 |
11.173 |
|
|
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 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.157
|
8.355 |
15.552 |
|
|
Sundry Debtors |
12.480
|
11.313 |
10.279 |
|
|
Cash & Bank Balances |
1.683
|
0.972 |
2.953 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.256
|
6.081 |
10.223 |
|
Total
Current Assets |
34.576
|
26.721 |
39.007 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
25.668
|
20.263 |
23.792 |
|
|
Provisions |
0.428
|
0.173 |
0.036 |
|
Total
Current Liabilities |
26.096
|
20.436 |
23.828 |
|
|
Net Current Assets |
8.480
|
6.285 |
15.179 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
17.743 |
16.897 |
26.352 |
|
PROFIT & LOS S
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
|
|
|
|
|
|
Sales Turnover |
245.707 |
164.520 |
247.215 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
245.707 |
164.520 |
247.215 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.774 |
0.759 |
0.455 |
|
|
Provision for Taxation |
0.229 |
2.087 |
0.036 |
|
|
Profit/(Loss) After Tax |
0.545 |
[1.328] |
0.419 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Material Consumed |
226.391 |
147.992 |
200.859 |
|
|
Manufacturing Expenses |
9.353 |
8.677 |
29.630 |
|
|
Personnel Expenses |
1.552 |
1.048 |
1.339 |
|
|
Administrative and other Expenses |
4.654 |
3.136 |
4.000 |
|
|
Financial Expenses |
1.847 |
1.749 |
2.867 |
|
|
Sales Tax |
0.000 |
0.000 |
6.903 |
|
|
Depreciation |
1.135 |
1.159 |
1.162 |
|
Total Expenditure |
244.932
|
163.761 |
246.760 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.22
|
[0.81] |
0.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.32
|
0.46 |
0.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.77
|
2.03 |
0.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.13 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.59
|
5.06 |
6.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.31 |
1.64 |
PASHUPATINATH INTERNATIONAL
|
SOURCES OF FUNDS |
|
|
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
|
|
5.640 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
5.640 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
5.509 |
|
|
2] Unsecured Loans |
|
|
1.261 |
|
|
TOTAL BORROWING |
|
|
6.770 |
|
|
DEFERRED TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
12.410 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4.686 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
8.745 |
|
|
Sundry Debtors |
|
|
10.820 |
|
|
Cash & Bank Balances |
|
|
0.388 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1.722 |
|
Total
Current Assets |
|
|
21.675 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
13.951 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
13.951 |
|
|
Net Current Assets |
|
|
7.724 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
12.410 |
|
PROFIT & LOS S
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
|
|
|
|
|
|
|
Sales Turnover |
|
|
109.600 |
|
|
Other Income |
|
|
0.183 |
|
|
Total Income |
|
|
109.783 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
0.481 |
|
|
Provision for Taxation |
|
|
0.000 |
|
|
Profit/(Loss) After Tax |
|
|
0.481 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Insurance Expenses |
|
|
0.064 |
|
|
Depreciation |
|
|
0.495 |
|
|
Other Expenditure |
|
|
108.743 |
|
Total Expenditure |
|
|
109.302 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2007 |
|
PAT / Total Income |
(%) |
|
|
0.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
1.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
2.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.55 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE
- Punjab Gas Limited, Punjab
- Siddhivinayak Alluminium Industries – Jammu Kashmir
STATEMENT OF ASSES AND LIABILITIES [MR. VIPRENDER AGGARWAL]
Annual Income
|
Source |
Annual Income [Rs in Millions] |
|
From Salary |
0.192 |
|
From Business |
15.000 |
|
From Others |
0.065 |
Investment in Business Capital
[Rs in Millions]
|
Sidhivinayak Alloys Industries |
13.900 |
|
Punjab Gas Cylinders Limited |
2.500 |
|
N. C. Associates Private Limited |
4.970 |
|
Atharva Metalcraft Private Limited |
2.700 |
|
Name of the Bank |
Natural of Deposits Held |
Amount of Deposit [Rs in Millions] |
|
ICICI Bank |
F. D. R. |
0.025 |
|
Name of the Bank |
Natural of Deposits Held |
Amount of Deposit [Rs in Millions] |
|
Naveenoverseas [Pvt] Limited |
Loan |
0.100 |
|
Shree Ganesh IND |
Loan |
1.050 |
|
Sidhivinayak Metal |
Loan |
0.800 |
|
Kapil Singla |
Loan |
0.500 |
Life Insurance Policies
Rs in Millions
|
Date of Policy |
Policy No. |
Whether Endowment Policy or Whole Life Policy |
Annual Premium [Rs.] |
Sum assured [Rs.] |
Surrender Value |
|
28.02.2003 |
300088952 |
Endowment and ULIP |
5698.500 |
50000.000 |
0.250 |
|
28.03.2005 |
300366580 |
5363.500 |
1.000 |
0.120 |
|
|
18.01.2006 |
02328070 |
2500.000 |
0.150 |
0.060 |
Immovable Properties
|
Name of the owner |
Description of Property |
Location / address of property |
Extent of land |
|
Viprender Aggarwal 25% |
Residential Property |
3168 – II Ludhiana |
500 sq. yard |
|
|
|
|
|
|
Viprender Aggarwal 100% |
Plot |
1065, Phase – III, Ludhiana |
445 sq. ft. |
|
Extent of building area constructed |
Type of property i.e. whether residential / agricultural / industrial
commercial etc |
Details of documents conterring right |
Date of purchase of property |
|
4000 sq. ft. |
Residential |
Sale Deed |
October 2003 |
|
|
|
|
|
|
N/A |
Plot |
Allotment Letter |
October 2007 |
Rs in Millions
|
Original Purchase cost [Rs.] |
Present market value as on 31.03.2008 [Rs.] |
Details of encumbrances, if any on the property |
|
1.700 |
12.500 |
Hypothecation with ICICI Bank Limited |
|
3.300 |
6.000 |
-- |
Government Securities / National Savings Certificates / Shares of listed
companies units of Unit Trust of India etc :
Rs in Millions
|
Description of security |
Face Value [Rs.] |
Market Value [Rs.] |
|
P. P. F. |
0.138 |
0.138 |
|
Various Share |
0.875 |
0.700 |
Total Assets : Rs. 32.988 Millions
Borrowing from others
Rs in Millions
|
Nature of Lender |
Amount borrowed [Rs.] |
Details of securities furnished |
|
ICICI Bank Limited |
1.218 |
Residential Stocks |
Total Liabilities : Rs. 1.218 Millions
Net Worth : Rs. 31.700 Millions
STATEMENT OF ASSES AND LIABILITIES [MR. ROHIT GOYAL]
Annual Income
|
Source |
Annual Income [Rs. In Millions] |
|
Business Income |
Rs. 0.018 Million |
Investment in Business Capital
|
Name of the company / firm / concern in which investment is made |
Amount invested [Rs in Millions] |
|
Capital in Pashupatinath Intl. Share Applications, Money in Atharva Metal
Craft Private Limited |
4.300 6.000 |
Description held with Banks
|
Name of the Bank |
Natured of Deposit held |
Amount of Deposit [Rs.] |
|
UCO Bank |
Cash and Bank Balance |
Rs. 0.025 Million |
Immovable Properties
|
Name of the owner |
Description of property |
Location / address of property |
Extent of land |
|
Rohit Goyal |
400 sq. yds Res. |
19 Rajguru Nagar Extension Ludhiana |
400 sq. yds. |
|
Rohit Goyal |
400 Sq. Yds. Commercial |
290 Link Road, Ludhiana |
400 sq. yds. |
|
Rohit Goyal |
Plot |
Mohali |
500 sq. yds. |
|
Other Investment in various plot |
Plot |
Rs. 1.300 Millions |
|
|
Extent of building area constructed |
Type of property i.e. whether residential / agricultural / industrial
commercial etc |
Details of documents conterring right |
Date of purchase of property |
|
Property is 2 fully coro. |
Property No. 1 Residential |
Title Deed |
Old |
|
|
|
|
|
|
Property 3 Only Plot |
2. Commercial |
|
|
|
Present market value |
Details of encumbrances, if any, on the property |
|
Total Rs. 32.400 Millions |
Property 1 & 2 sq. fts. For loan from
UCO Bank fro working capital of Pasupatinath International |
Total Assets Rs. 44.575 Millions
Details of Existing Guarantee Obligations
|
Name of the Principal debtors on whose behalf guarantee is
furnished |
Extent to which guarantee is furnished |
Name of the creditor |
|
Guarantees given to UCO Bank fro availing
working capital facilities for Pashupatinath International |
Rs. 15.000 Millions |
Pashupatinath International |
PROJECT CONCEPT
The project of Aluminium extruded products in
intended to be set up at Village Rangian near Dehlon [Ludhiana – Malerkotla
Road] in Ludhiana district, which is hub of industrial activities in Punjab by
the young and energetic entrepreneurs Mr. Rohit Goyal and Mr. Viprender
Aggarwal. The products shall consist of Aluminium sections for doors, Windows,
panes, vertical, angles, square or rounded rods etc. These products range have
uses in Construction, Transport, Power Consumer products and other industries.
Mr. Rohit Goyal and Mr. Viprender Aggarwal has vast experience of these
industry. Mr. Rohit Goyal has been successfully dealings in the product as a
wholesaler for more than 8 year and Mr. Viprender Garg has vast experience in
the technical and production line of Aluminium Recycling. Thus the concept is
not germane to the promoters of this project.
Considering the above Para it could be
concluded that the entrepreneurs have rightly taken the decision to establish a
new unit a Village Rangian near Dehlon [Ludhiana – Malerkotla Road] in Ludhiana
district, a district a centrally located place and close to the vicinity for
acquiring of the raw materials a marketing of finished products. Robust growth
in the real estate sector, a wide gap in the demand and supply of the items and
presence of very few players in this particular industry is the driving force
for the concept of this project.
The promoter have already taken a step ahead
by purchasing land and acquiring plant and machinery of running industrial unit
from State Bank of India for Rs. 4.850 Millions and Jagan Industries for Rs.
11.800 Millions
PROMOTERS
A Private Limited Company Atharva Metalcraft
Private Limited of which following are the two promoter directors is promoting
the project of manufacturing of Aluminium Extruded products :
Mr. Rohit Goyal
Mr. Viprender Aggarwal
Mr. Rohit Goyal
Mr. Rohit Goyal is a young, educated and
experienced businessman of 33 years of age. He is B. Com. And MBA [Marketing]
by qualification. He is already into the business of wholesale trading of these
products at Ludhiana and in the name and style of Pashupatinath International
of which he is the Proprietor. He is in this line of business or more than
eight years and having a turnover of more than 150.000 Millions.
Mr. Viprender Aggarwal
Mr. Viprender Aggarwal is also young, educated
and experienced businessman of 38 years of age. He is BSC [electrical] and LLB
by qualification, he is engaged in the business of Aluminium manufacturing
since 1990. at present, he is director in Punjab Gas Cylinders Limited, Kathua
[Jammu] and handling an annual turnover of more than Rs. 500.000 Millions.
It can be seen that both the promoters are
experienced in this line of business which line of business which is a very
positive aspect of the proposed project.
The proposed unit has production capacity of
3600 tones per annum which in the opinion of the promoters is quite adequate
for the propose.
The promoters are young and enthusiastic and
have an urge to do always the best of their ability.
INFRASTRUCTURE
The proposed unit is located at village Rangian
near Dehlon [Ludhiana – Malerkotla Road] in Ludhiana district. With all the
infrastructure available.
1. Land
An Industrial Land measuring 2.69 Acres [13014
Sq. Yds.] has already been purchased by the Company utilized for the proposed
Unit – The land is sufficient for the proposed activity and future growth.
2. Building
The proposed factory building is an under :
[Sq.
Ft.]
Factory shed [75 ft. *312.50 ft] 21875
Office Building [25 ft * 50 ft] 1250
-------------------
23125
The proposed building is sufficient for the
proposed activity and further growth
3. Plant and Machineries
The main plant consists of Flowing Machineries
:
- Melting Furnace
- Hot Top Casting
- Cutting Machine
- Billet Pre heater
- Extrusion press
- Handling System
- Stretching Machine
- Finish Shearing Machine
- Die Heater
The other machineries include :
- Oil Filtering Unit
- Generator
- Tool Room
4. Utilities
Power : The unit is in the process of applying the
power connection for the power shall be connected by the PSEB. The estimated
expenses will be approx. 1.200 millions.
Water : Bulk quality of water is not required in the
production process, some quantity required for production purposes will be
recirculated. Arrangement has been made for human consumption.
5. Manpower
The unit is situated in the industrial city of
Ludhiana and as such the labour, both skilled and unskilled is easily
available.
Since the promoters are from the same
industry, they are of the opinion that there shall not be any difficulty in
getting the required manpower.
6. Transportation
Both in ward as well as outward transportation
is required at the project site. There are good numbers of transport operators
for large, medium and small size [tonnage]. The proposed unit is well connected
by Road as well as Railway so one can expect round the clock availability of
transportation.
7. Communication
All the modern modes of communication i.e.
telephone, fax, internet etc. are available at site. Thus efficient and prompt
communication mode is available at the site.
RAW MATERIALS AND PACKING MATERIALS
Raw Materials
The raw materials are un alloyed aluminium [99
% purity] aluminium based alloy ingot and aluminium scraps, magnesium and
magnesium base alloy shapes and forms, copper and copper alloy shapes, silicon
manganese. The main suppliers of Aluminium Ingot are :
- HINDALCO
- INDAL
- BALCO
- NALCO
For Scraps, it could be procured from
wholesale dealers in scraps from the local market of Ludhiana, Delhi and
Maharashtra etc. The aluminium scrap can be imported. There should not be any
difficulty envisaged by the promoters on this count.
Packing Materials
There is in fact not need of any packing
materials as such. However it has been estimated that ropes, strops etc. could
be sued for stacking of bundles of finished products. Also wrappers made from
PP cloth would be used for safely handling of the finished products. The same
could be had from the vicinity of the project site.
MANUFACTURING PROCESS
The Manufacturing Process narrated below :
- Ingots are melted on oil fired melting furnaces, with addition of
silicon, magnesium, copper, manganese etc. as required.
- Molten metal is then poured in semi automatic billeting machines.
- The extrusion process being with creation of a metal die, which
precisely matches the profile of the shape specified by he designer.
- Aluminium billets or logs, produce from ingots are heated and forced
under pressure through die.
- The variety of shapes is virtually endless, and profiles are
produced to exact specification with very close tolerances.
- the finished products are send to packing and dispatched section.
The firm can carry out following additional
process for acquitting different markets
- After profile is extruded, it can be further Fabricated cut to
length machined drilled, purchased, notched, bent and assembled into a
semifinished products.
- An extruded tube even can be “stretched” to produce tubing of exact
inside and outside dimension.
MARKETING AND COMPETITION
Marketing
Extruded products account for over 25 % of the
total Aluminium consumption in the country. Share of extruded products has
consistently increased over the past year. Their Share is expected to continue
to rise in the future along with the rise of the Industry of the where these3
products are being used. The Industries using the extruded products are :
Construction
Doors, Panels, frames, vertical bolts,
handles, hinges, architectural, section etc.
Transportation
Trucks, LCVs, Jeeps, scooters, mopeds, 3
wheelers, rails coaches, tractors, wagons, bicycles etc
Power
Transformers, motors, cable trays, bus bars,
HT and LT switch, breakers, electric light fittings, transmission fitting etc.
Consumer Products
TV antenna, refrigerator, furniture and fancy
fitting, moulded luggage, certain railing.
Others
Aerospace panels, refrigerator machineries,
dairy machineries, sugar machineries, taxtile machineries, lifts machine tools
etc.
Since the promoter are already in he Industry
for more then 10 years and having established marketing arrangements the
marketing of the products is not at all the problem.
The construction industry having the largest
consumption of the proposed products. This Industry is prospering by lips and bounds.
The major thrust will be on such products by the promoters. Along with
construction industry is transport industry has also wide consumption. In fact
in India automobile industry has tremendous growth potential as many parts o
the engine and fittings are made from Aluminium.
Competition
There are good number of manufacturers of
similar product of in the country. However considering the potential growth and
multiple use of the products there is no threat in particular from competition.
The exiting competitions cannot pose any
threat to the unit as the as the promoter belong to the similar Industry and
have and knowledge of market. Thus competition ha hardly any role to play to
deter the promoters to establish unit.
COST OF PROJECT AND MEANS OF FINANCE
|
COST OF PROJECT |
RS IN MILLIONS |
|
Land |
2.250 |
|
Building |
9.200 |
|
Plant and Machinery |
18.957 |
|
Other Fixed Assets |
0.300 |
|
Electricity security |
1.200 |
|
Preliminary Expenditure |
0.300 |
|
Working capital margin |
12.256 |
|
|
44.463 |
|
MEANS OF FINANCE |
|
|
Promoters contribution |
24.463 |
|
Term loans |
20.000 |
|
|
44.463 |
CALCULATION OF PROFITABILITY
[Rs in Millions]
|
PARTICULARS |
YEAR 1 |
YEAR 2 |
YEAR 3 |
YEAR 4 |
YEAR 5 |
YEAR 6 |
|
|
[Projected] |
|||||
|
|
|
|
|
|
|
|
|
Production Capacity |
60 % |
70 % |
80 % |
80 % |
80 % |
80 % |
|
|
|
|
|
|
|
|
|
Sale – Domestic |
349.920 |
408.240 |
466.560 |
466.560 |
466.560 |
466.560 |
|
|
|
|
|
|
|
|
|
Total Sales |
349.920 |
408.240 |
466.560 |
466.560 |
466.560 |
466.560 |
|
|
|
|
|
|
|
|
|
Raw Material Consumed |
321.588 |
338.745 |
388.631 |
385.817 |
385.977 |
385.981 |
|
Wages |
5.633 |
6.477 |
7.449 |
8.566 |
9.851 |
11.329 |
|
Other Manufacturing Expenses |
14.256 |
16.632 |
19.008 |
19.008 |
19.008 |
19.008 |
|
Electricity |
8.411 |
9.813 |
11.215 |
11.215 |
11.215 |
11.215 |
|
Depreciation |
3.625 |
3.146 |
2.735 |
2.380 |
2.073 |
1.806 |
|
|
|
|
|
|
|
|
|
Opening stock of WIP and FG |
[17.676] |
[1.065] |
[2.711] |
0.103 |
[0.057] |
[0.061] |
|
Closing Stock of WIP and FG |
|
|
|
|
|
|
|
Repairs and maintenance |
1.000 |
1.500 |
2.000 |
3.000 |
4.000 |
5.000 |
|
Selling and Dist Exp @ 2 % |
6.998 |
8.165 |
9.331 |
9.331 |
9.331 |
9.331 |
|
Administration Expenses |
0.500 |
1.000 |
2.000 |
2.500 |
3.000 |
3.500 |
|
Salaries |
0.998 |
1.147 |
1.319 |
1.517 |
1.745 |
2.006 |
|
Interest on Term Loan |
2.138 |
2.000 |
1.5000 |
1.000 |
0.500 |
0.130 |
|
Interest on Working Capital |
2.125 |
2.500 |
2.500 |
2.500 |
2.500 |
2.500 |
|
Preliminary Expenses W/off |
0.060 |
0.060 |
0.060 |
0.060 |
0.060 |
0.000 |
|
|
|
|
|
|
|
|
|
Total Expenses |
349.655 |
390.120 |
445.036 |
446.996 |
449.202 |
451.746 |
|
PBT |
0.265 |
18.120 |
21.524 |
19.564 |
17.358 |
14.814 |
|
Income Tax and FBT |
0.214 |
6.411 |
7.685 |
7.131 |
6.490 |
5.732 |
|
|
|
|
|
|
|
|
|
PAT |
0.051 |
11.709 |
13.839 |
12.433 |
10.868 |
9.082 |
|
Cash Profit |
3.675 |
14.855 |
16.573 |
14.812 |
12.940 |
10.889 |
|
Interest on Term Loan |
2.138 |
2.000 |
1.500 |
1.000 |
5.000 |
0.130 |
|
Total |
5.813 |
16.855 |
18.073 |
15.812 |
13.440 |
11.019 |
|
|
|
|
|
|
|
|
|
Interest on MTL |
2.138 |
2.000 |
1.500 |
1.000 |
0.500 |
0.130 |
|
0MTL Installment |
2.000 |
4.000 |
4.000 |
4.000 |
4.000 |
2.000 |
|
Total |
4.138 |
6.000 |
5.500 |
5.000 |
4.500 |
2.130 |
Amount of Loan : Rs. 11.000 Millions
Repayment Schedule of Term Loan
Rate of Interest : 12.50 %
Repayment Terms : 60 Monthly Installments of Rs. 333333.00 each together
with interest and last installment of Rs. 333353.00
Gestation Period : 6 Months
Rs in Millions
|
|
Opening Balance |
Installment |
Closing Balance |
Interest |
|
|
|
|
|
|
|
Year 1 |
20.000 |
2.000 |
18.000 |
2.138 |
|
|
|
|
|
|
|
Year 2 |
18.000 |
4.000 |
14.000 |
2.000 |
|
|
|
|
|
|
|
Year 3 |
14.000 |
4.000 |
10.000 |
1.500 |
|
|
|
|
|
|
|
Year 4 |
10.000 |
4.000 |
6.000 |
1.000 |
|
|
|
|
|
|
|
Year 5 |
6.000 |
4.000 |
2.000 |
0.500 |
|
|
|
|
|
|
|
Year 6 |
2.000 |
2.000 |
0.000 |
0.130 |
CALCULATION OF INCOME TAX-NEW PROJECT
Rs in Millions
|
PARTICULARS |
YEAR 1 |
YEAR 2 |
YEAR 3 |
YEAR 4 |
YEAR 5 |
YEAR 6 |
|
|
|
[Projected] |
|
|||||
|
|
|
|
|
|
|
|
|
|
Profit per P & L |
0.265 |
18.120 |
21.524 |
19.564 |
17.358 |
14.814 |
|
|
Add : Depreciation as per Co. Act |
3.625 |
3.146 |
2.735 |
2.380 |
2.073 |
1.806 |
|
|
|
3.890 |
21.266 |
24.258 |
21.943 |
19.430 |
16.621 |
|
|
Less : Depreciation as per Income Tax |
3.844 |
3.287 |
2.825 |
2.435 |
2.103 |
1.817 |
|
|
Taxable Profit |
0.046 |
17.979 |
21.433 |
19.508 |
17.327 |
14.803 |
|
|
Less : B/F Loss |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
Taxable Profit |
0.046 |
17.979 |
21.433 |
19.508 |
17.327 |
14.803 |
|
|
|
|
|
|
|
|
|
|
|
Income Tax |
0.014 |
6.111 |
7.285 |
6.631 |
5.890 |
5.032 |
|
|
FBT |
0.200 |
0.300 |
0.400 |
0.500 |
0.600 |
0.700 |
|
|
|
|
|
|
|
|
|
|
|
Total Tax Liability |
0.214 |
6.411 |
7.685 |
7.131 |
6.490 |
5.732 |
|
OPERATING STATEMENT
Rs in Millions
|
PARTICULARS |
YEAR 1 |
YEAR 2 |
YEAR 3 |
YEAR 4 |
YEAR 5 |
YEAR 6 |
|
|
[Projected] |
|||||
|
1.
Gross Sales |
|
|
|
|
|
|
|
Sales – Local |
349.920 |
408.240 |
466.560 |
466.560 |
466.560 |
466.560 |
|
Sales – Export |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total |
349.920 |
408.240 |
466.560 |
466.560 |
466.560 |
466.560 |
|
|
|
|
|
|
|
|
|
2. Less Excise Duty |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3. Net Sales [1-2] |
349.921 |
408.240 |
466.560 |
466.560 |
466.560 |
466.560 |
|
|
|
|
|
|
|
|
|
4. % rise [+] or fall [-] in net sales as compared to
previous year |
249.201 |
1.667 |
1.429 |
0.000 |
0.000 |
0.000 |
|
[a] S.V.P. |
367.597 |
409.305 |
469.271 |
466.457 |
466.617 |
466.621 |
|
5. COST OF SALES |
|
|
|
|
|
|
|
i] Raw Materials [Including stores and other items used in
the process of manufacture] |
|
|
|
|
|
|
|
[a] Imported |
321.589 |
338.745 |
388.631 |
385.817 |
385.977 |
385.981 |
|
[b] Indigenous |
8.748 |
8.276 |
8.282 |
8.271 |
8.272 |
8.272 |
|
[% of spv] |
|
|
|
|
|
|
|
ii] Other Spares |
|
|
|
|
|
|
|
[a] Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[b] Indigenous |
|
|
|
|
|
|
|
iii] Power and Fuel |
8.411 |
9.813 |
11.215 |
11.215 |
11.215 |
11.215 |
|
iv] Direct labour [Factory Wages] |
5.633 |
6.477 |
7.449 |
8.566 |
9.851 |
11.329 |
|
v] other Mfg. Expenses |
14.256 |
16.632 |
19.008 |
19.008 |
19.008 |
19.008 |
|
vi] Depreciation |
3.625 |
3.146 |
2.735 |
2.380 |
2.073 |
1.806 |
|
vii] SUB TOTAL [i to iv] |
353.513 |
374.813 |
429.037 |
426.986 |
428.124 |
429.339 |
|
|
|
|
|
|
|
|
|
viii] Add : Opening Stocks – in – process |
0.000 |
2.946 |
3.123 |
3.575 |
3.558 |
3.568 |
|
Sub Total |
353.513 |
377.759 |
432.161 |
430.561 |
431.682 |
432.907 |
|
ix] Deduct : Closing Stock – in – Process |
2.946 |
3.123 |
3.575 |
3.558 |
3.568 |
3.578 |
|
|
|
|
|
|
|
|
|
x] Cost of production |
350.567 |
374.636 |
428.585 |
427.003 |
428.114 |
429.329 |
|
|
|
|
|
|
|
|
|
xi] Add : Opening Stock of finished goods |
0.000 |
14.730 |
15.617 |
17.877 |
17.791 |
17.838 |
|
Sub – total |
350.567 |
389.365 |
444.203 |
444.879 |
445.905 |
447.168 |
|
xii] Deduct: Closing Stock – in - finished goods |
14.730 |
15.617 |
17.877 |
17.791 |
17.838 |
17.889 |
|
|
|
|
|
|
|
|
|
xiii] Total Cost of Sales |
335.838 |
373.748 |
426.326 |
427.088 |
428.067 |
429.278 |
|
|
|
|
|
|
|
|
|
6. Selling general and administrative expenses |
9.467 |
11.812 |
14.650 |
16.348 |
18.076 |
19.838 |
|
|
|
|
|
|
|
|
|
7. SUB – TOTAL [5+6] |
345.334 |
385.560 |
440.976 |
443.436 |
446.142 |
449.116 |
|
8. Operation profit before interest [3-7] |
4.587 |
22.680 |
25.584 |
23.124 |
20.418 |
17.444 |
|
|
|
|
|
|
|
|
|
9. Interest |
4.263 |
4.500 |
4.000 |
3.500 |
3.000 |
2.630 |
|
|
|
|
|
|
|
|
|
10. Operating profit after interest [8-9] |
0.325 |
18.180 |
21.584 |
19.624 |
17.418 |
14.814 |
|
|
|
|
|
|
|
|
|
11. i] Add : other non-operating income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub – total [Income] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
ii] Deduct other non-operating expenses |
|
|
|
|
|
|
|
[a] Preliminary Expenses |
0.060 |
0.060 |
0.060 |
0.060 |
0.060 |
0.000 |
|
Sub total [Expenses] |
0.060 |
0.060 |
0.060 |
0.060 |
0.060 |
0.000 |
|
iii] Net of other non-operating income / expenses |
[0.060] |
[0.060] |
[0.060] |
[0.060] |
[0.060] |
0.000 |
|
12. Profit before tax / Loss [10+11[iii]] |
0.265 |
18.120 |
21.524 |
19.564 |
17.358 |
14.814 |
|
13. Provision for taxes |
0.214 |
6.411 |
7.685 |
7.131 |
6.490 |
5.732 |
|
|
|
|
|
|
|
|
|
14. Net profit / loss [12-13] |
0.051 |
11.709 |
13.839 |
12.433 |
10.868 |
9.082 |
|
Cash Accruals |
3.675 |
14.855 |
16.573 |
14.812 |
12.940 |
10.889 |
|
15 [a] Equity Dividend Paid |
0.000 |
0.000 |
0.000 |
0.000 |
0.500 |
0.000 |
|
[b] Dividend Rate |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
16. Retained profit [14-15] |
0.051 |
11.709 |
13.839 |
12.433 |
10.368 |
8.582 |
|
|
|
|
|
|
|
|
|
17. Retained profit / Net profit [%] |
100.000 |
100.000 |
100.000 |
100.000 |
95.40 |
94.49 |
ANALYSIS OF BALANCE SHEET
Rs in Millions
|
LIABILITIES |
YEAR 1 |
YEAR 2 |
YEAR 3 |
YEAR 4 |
YEAR 5 |
YEAR 6 |
|
|
[Projected] |
|||||
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
01 Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
|
|
|
i] From applicant Bank |
20.000 |
20.000 |
20.000 |
20.000 |
20.000 |
20.000 |
|
|
|
|
|
|
|
|
|
ii] From other Banks |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
iii] [of which BP and BD] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sub Total [A] |
20.000 |
20.000 |
20.000 |
20.000 |
20.000 |
20.000 |
|
|
|
|
|
|
|
|
|
02 Short Term Borrowings from others |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
03 Sundry creditors [Trade] |
13.400 |
7.057 |
3.239 |
3.215 |
3.216 |
3.217 |
|
|
|
|
|
|
|
|
|
04 Advance payments from customers / Deposits from
dealers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
05 Provision for tax [net of Tax paid] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
06 Dividend and Dividend Tax payable |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
07 other statutory liabilities [due within one year] |
1.00 |
1.500 |
2.00 |
2.00 |
2.00 |
2.00 |
|
08 Deposits / Installments of term loans / DPGs /
debentures, etc [due within one year] |
4.000 |
4.000 |
4.000 |
4.000 |
2.000 |
0.000 |
|
|
|
|
|
|
|
|
|
09 Other current liabilities and provisions [due within
one year] |
1.000 |
1.500 |
2.000 |
2.000 |
2.000 |
2.000 |
|
|
|
|
|
|
|
|
|
Sub – Total [B] |
19.400 |
14.057 |
11.239 |
11.215 |
9.216 |
7.217 |
|
|
|
|
|
|
|
|
|
10 TOTAL CURRENT LIABILITIES [Total of 1 to 9] |
39.400 |
34.057 |
31.239 |
31.215 |
29.216 |
27.217 |
|
|
|
|
|
|
|
|
|
11 Debentures [not maturing within one year] |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
12 Preference Shares [Redeemable after 1 year] |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
13 Term loans [excluding installments payable within
one year] |
14.000 |
10.000 |
6.000 |
2.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
14 Deferred Sales Tax / Deferred Loan Deferred Payment
Credit [Excluding installments due within one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
15 Term deposit [repayable after one year] |
14.663 |
14.663 |
14.663 |
14.663 |
14.663 |
5.000 |
|
|
|
|
|
|
|
|
|
16 other Term Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
17 TOTAL TERM LIABILITIES [Total of 11 to 16] |
28.663 |
24.663 |
20.663 |
16.663 |
14.663 |
7.500 |
|
|
|
|
|
|
|
|
|
18 TOTAL OUTSIDE LIABILITIES [10 + 17] |
68.063 |
58.720 |
51.902 |
47.878 |
43.879 |
34.717 |
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
19 Ordinary share Capital |
9.800 |
9.800 |
9.800 |
9.800 |
9.800 |
9.800 |
|
|
|
|
|
|
|
|
|
20 Deferred Tax Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
21 Other Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
22 Subsidy |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
23 Surplus [+] or deficit [-] in Profit and Loss Account |
0.051 |
11.759 |
25.598 |
38.031 |
48.399 |
56.981 |
|
|
|
|
|
|
|
|
|
24 NET WORTH [19+23] |
9.851 |
21.559 |
35.398 |
47.831 |
58.199 |
66.781 |
|
|
|
|
|
|
|
|
|
25 TOTAL LIABILITIES [18+24] |
77.913 |
80.280 |
87.300 |
95.709 |
102.078 |
101.498 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26 Cash and Bank Balance |
0.736 |
0.598 |
0.693 |
0.262 |
0.200 |
0.365 |
|
|
|
|
|
|
|
|
|
27 Investments [Other than long term investments]
Government and other Trustee securities |
|
|
|
|
|
|
|
I] Fixed deposit with bank |
|
|
|
|
|
|
|
II] Share with Co-operative Bank |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28 I] Receivables other than deferred and exports
[Including bills purchased and discounted by banks] |
14.580 0.050 |
17.010 0.050 |
19.440 0.050 |
19.440 0.050 |
19.440 0.050 |
19.440 0.050 |
|
II] Export receivables [Including bills purchased /
discounted by banks] |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
29 Instalments of Deferred receivables [due within
one year] |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
30 Inventory |
|
|
|
|
|
|
|
I] Raw materials [Including stores and other items used in
the process of manufacture] |
|
|
|
|
|
|
|
Imported |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Indigenous |
13.400 0.050 |
14.114 0.050 |
16.193 0.050 |
16.076 0.50 |
16.082 0.050 |
16.083 0.050 |
|
II] Stock – in – process |
2.946 0.010 |
3.123 0.010 |
3.575 0.010 |
3.558 0.010 |
3.568 0.010 |
3.578 0.010 |
|
II] Finished Goods |
14.730 |
15.617 |
17.877 |
17.791 |
17.838 |
17.889 |
|
IV] Other consumable spares |
|
|
|
|
|
|
|
Imported |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Indigenous |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
31 Advances to suppliers of raw materials and stores /
spares |
2.000 |
3.000 |
5.000 |
16.500 |
25.000 |
26.000 |
|
|
|
|
|
|
|
|
|
32 Advance payment of taxes [NET] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
33 Other current assets |
1.000 |
1.500 |
2.000 |
2.000 |
2.000 |
2.000 |
|
|
|
|
|
|
|
|
|
34 TOTAL CURRENT ASSETS [Total of 26 to 33] |
49.391 |
54.963 |
64.778 |
75.627 |
84.129 |
85.355 |
|
FIXED ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35 Gross Block |
30.707 |
30.707 |
30.707 |
30.707 |
30.707 |
30.707 |
|
|
|
|
|
|
|
|
|
36. Depreciation to date |
3.625 |
6.771 |
9.505 |
11.885 |
13.957 |
15.764 |
|
|
|
|
|
|
|
|
|
37 NET BLOCK [35-36] |
27.082 |
23.936 |
21.202 |
18.822 |
16.750 |
14.943 |
|
|
|
|
|
|
|
|
|
OTHER NON – CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
38 Investments / book / debts / advances / deposits which
are not Current Assts |
|
|
|
|
|
|
|
I] [a] Others Investments in Subsidiary |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
[b] Others companies / affiliates |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
II] Advances to suppliers of capital goods and contractors
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
III} Deferred receivables [maturity exceeding one year] |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
IV] Others |
1.200 |
1.200 |
1.200 |
1.200 |
1.200 |
1.200 |
|
|
|
|
|
|
|
|
|
39 Non consumables Stores and Spares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40 Other non – current assets including dues from
directors |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
41 TOTAL OTHER NON – CURRENT ASSETS [total of 38 to 40] |
1.200 |
1.200 |
1.200 |
1.200 |
1.200 |
1.200 |
|
|
|
|
|
|
|
|
|
42 Intangible assets [Patents, goodwill, prelim, expenses,
bad / doubtful debts Not provided for etc.] |
0.240 |
0.180 |
0.120 |
0.060 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
43 TOTAL ASSETS [Total of 34, 37, 41 and 42] |
77.913 |
80.280 |
87.300 |
95.709 |
102.078 |
101.498 |
|
|
|
|
|
|
|
|
|
44 TANGIBLE NET WORTH [24-22] |
9.611 |
21.379 |
35.278 |
47.771 |
58.199 |
66.781 |
|
|
|
|
|
|
|
|
|
45 NET WORKING CAPITAL |
9.991 |
20.906 |
33.539 |
44.412 |
54.912 |
58.138 |
|
[17 + 24]-[37+41+42] |
|
|
|
|
|
|
|
to tally with [34-10] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
46 Current Ratio [Items 34/10] |
1.25 |
1.61 |
2.07 |
2.42 |
2.88 |
3.14 |
FUND FLOW STATEMENT
Rs in Millions
|
LIABILITIES |
YEAR 1 |
YEAR 2 |
YEAR 3 |
YEAR 4 |
YEAR 5 |
YEAR 6 |
|
|
[Projected] |
|||||
|
SOURCES |
|
|
|
|
|
|
|
[a] Net Profit [after tax] |
0.051 |
11.709 |
13.839 |
12.433 |
10.868 |
9.082 |
|
[b] Depreciation |
3.625 |
3.146 |
2.735 |
2.380 |
2.073 |
1.806 |
|
[c] Increase in Capital |
9.800 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[d] Increase in Term Liabilities |
28.663 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[e] Decrease in |
|
|
|
|
|
|
|
Fixed Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other non-current assets |
0.000 |
0.060 |
0.060 |
0.060 |
0.060 |
0.000 |
|
[f] Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
[g] TOTAL |
42.138 |
14.915 |
16.633 |
14.872 |
13.000 |
10.889 |
|
|
|
|
|
|
|
|
|
2 USES [a] Net Loss |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[b] Decrease in Term Liabilities [Including A Closely Held Public
Limited Liability Company Deposits] |
0.000 |
4.000 |
4.000 |
4.000 |
2.000 |
7.163 |
|
[c] Increase in |
|
|
|
|
|
|
|
Other Non Current Assets |
|
|
|
|
|
|
|
Fixed Assets [Net] |
30.707 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other non-current assets |
1.440 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[d] Dividend payments |
0.000 |
0.000 |
0.000 |
0.000 |
0.500 |
0.500 |
|
[e] Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
[f] Total |
32.147 |
4.000 |
4.000 |
4.000 |
2.500 |
7.663 |
|
|
|
|
|
|
|
|
|
3 Long – Term Surplus [+] / Deficit [-] [Item 1 minus Item
2] |
9.991 |
10.915 |
12.633 |
10.872 |
10.500 |
3.226 |
|
|
|
|
|
|
|
|
|
4 Increase / Decrease in Current Assets [As per details given
below] |
49.391 |
5.573 |
9.815 |
10.849 |
26.350 |
19.125 |
|
|
|
|
|
|
|
|
|
5 Increase / Decrease in Current Liabilities other than
bank borrowings. |
19.400 |
[5.342] |
[2.819] |
[0.023] |
[1.999] |
[2.000] |
|
|
|
|
|
|
|
|
|
6 Increase / Decrease in Working Capital Gap |
[29.991] |
10.915 |
12.633 |
10.872 |
10.500 |
3.226 |
|
|
|
|
|
|
|
|
|
7 Net Surplus [+] / Deficit [-] [Difference of 3 & 6] |
[20.000] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
8 Increase / Decrease in Bank Borrowings |
20.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INCREASE / DECREASE IN NET SALES |
349.920 |
58.319 |
58.320 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
BREAK UP OF [4] |
|
|
|
|
|
|
|
[i] Increase / Decrease in raw Materials |
|
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.010 |
0.010 |
|
Indigenous |
13.400 |
0.715 |
2.079 |
[0.117] |
1.763 |
1.807 |
|
|
|
|
|
|
|
|
|
[ii] Increase / Decrease stock – in – process |
2.946 |
0.178 |
0.452 |
[0.117] |
[3.558] |
[3.568] |
|
|
|
|
|
|
|
|
|
[iii] Increase / Decrease in Finished goods |
14.730 |
0.888 |
2.259 |
[0.085] |
[17.791] |
[17.838] |
|
|
|
|
|
|
|
|
|
[iv] Increase / Decrease in Receivables |
|
|
|
|
|
|
|
[a] Domestic |
14.580 |
2.430 |
2.430 |
0.000 |
[19.440] |
[19.440] |
|
[b] Exports |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[v] Increase / Decrease in Store and Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
[vi] Increase / Decrease in other Current Assets |
3.736 |
1.363 |
2.595 |
11.069 |
65.367 |
58.155 |
FINANCIAL RATIO
[Rs in Million]
|
LIABILITIES |
YEAR 1 |
YEAR 2 |
YEAR 3 |
YEAR 4 |
YEAR 5 |
YEAR 6 |
|
|
[Projected] |
|||||
|
|
|
|
|
|
|
|
|
Net Sales |
3499.21 |
4082.40 |
4665.60 |
4665.60 |
4665.60 |
4665.60 |
|
Profit before tax |
2.65 |
181.20 |
215.24 |
195.64 |
173.58 |
148.14 |
|
PBT/Net Sales [%] |
0.08 |
4.44 |
4.61 |
4.19 |
3.72 |
3.18 |
|
Profit after tax |
0.51 |
117.09 |
138.39 |
124.33 |
108.68 |
90.82 |
|
Cash accruals |
36.75 |
148.55 |
165.73 |
148.12 |
129.40 |
108.89 |
|
Paid up Capital |
98.00 |
98.00 |
98.00 |
98.00 |
98.00 |
98.00 |
|
Tangible Net Worth |
96.11 |
213.79 |
352.78 |
477.71 |
581.99 |
667.81 |
|
TOL/TNW |
7.08 |
2.75 |
1.47 |
1.00 |
0.75 |
0.52 |
|
Current Ratio |
1.25 |
1.61 |
2.07 |
2.42 |
2.88 |
3.14 |
|
Net Sales / TTA |
4.51 |
5.10 |
5.35 |
4.88 |
4.57 |
4.60 |
|
PBT/TTA [%] |
0.34 |
22.62 |
24.69 |
20.45 |
17.00 |
14.60 |
|
Op. Cost / Net Sales [%] |
98.69 |
94.44 |
94.52 |
95.04 |
95.62 |
96.26 |
|
Bank Finance / CA [%] |
40.49 |
36.39 |
30.87 |
26.45 |
23.77 |
23.43 |
|
Inv. + Receivable / Net Sales [Days] |
48.00 |
45.00 |
45.00 |
44.00 |
45.00 |
45.00 |
|
|
|
|
|
|
|
|
|
RISK RATING RATIO |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PBDIT / Intt. |
1.91 |
5.73 |
7.06 |
7.27 |
7.48 |
7.32 |
|
PAT / Net Sales [%] |
0.01 |
2.87 |
2.97 |
2.66 |
2.33 |
1.95 |
|
PBDIT / Total Capital Employed [ROCE] |
82.76 |
119.51 |
79.83 |
53.19 |
38.54 |
28.83 |
ABOUT ASSOCIATES/SUBSIDIARIES :
|
Name of the
Company |
SIDHI VINAYAK
ALLOY INDUSTRIES |
|
|
|
|
Address : |
46 B-50, SICOP Industrial Estate Hatli More Kathua, Jammu |
|
|
|
|
Branch Office : |
Plot No. 5, Sector 17-18 Road, Sheetla lane, Gurgaon, Haryana |
|
|
|
|
Status : |
Partnership Firm |
|
|
|
|
Partners Name : |
|
|
|
|
|
Nature of
Business : |
Manufacturer of Aluminium Alloy Ingots and Dross |
|
|
|
|
PAN No : |
ABBFS1745A |
|
|
|
|
Name of the Bank
|
|
|
|
|
|
Fixed Assets |
|
|
|
|
|
Name of the
Auditor |
Rajesh Jain and Associates Chartered Accountants 49, Pushpanjali, Opposite Anand Exten. Delhi – 110092 Tel No. : 91-11-22371689 / 22375766 Email : jainrkj@hotmail.com |
|
Name of the
Company |
PASHUPATINATH
INTERNATIONAL |
|
|
|
|
Address : |
2904, Link Road, New Cheema Chowk, Ludhiana |
|
|
|
|
Status : |
Proprietorship Firm |
|
|
|
|
Proprietor Name
: |
Mr. Rohit Goyal |
|
|
|
|
Nature of
Business : |
Trading |
|
|
|
|
Name of the Bank
|
|
|
|
|
|
Fixed Assets |
|
|
|
|
|
Name of the
Auditor |
A. Kumar Gupta and Company Chartered Accountants K – 109, Kismat, 1st Floor, G. P. Road, Miller Ganj,
Ludhiana – 141003 Tel No. : 91-161-2532596 / 4645968 Fax No. :91-161-2539576 |
|
|
|
|
Capital
Investment : |
Rs. 5.640 Millions |
|
Name of the
Company |
PUNJAB GAS
CYLINDERS LIMITED |
|
|
|
|
Address : |
Village Malikpur, Ahmedgarh, Malerkotla, Punjab |
|
|
|
|
Status : |
Public Limited |
|
|
|
|
Proprietor Name
: |
Mr. Viprender Aggarwal Mr. Mam Chand Mittal |
|
|
|
|
Nature of
Business : |
Manufacturer of LPG Cylinders and Aluminium Alloy Ignots |
|
|
|
|
Name of the Bank
|
Corporation Bank, New Delhi |
|
|
|
|
Fixed Assets |
|
|
|
|
|
Name of the
Auditor |
Dass Khanna and Company Chartered Accountants |
|
|
|
|
Authorised
Capital : |
Rs. 10.000 Millions |
|
7 |
|
|
Paidup Capital :
|
Rs. 4.836 Millions |
|
|
|
|
Bank Facility : |
Corporation Bank : Rs. 4.638 Millions [Cash Credit Limit secured by Stocks lying at Village Malikpur, Book
Debts and personally guaranteed by the directors ] |
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 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.43.30 |
|
UK Pound |
1 |
Rs.86.13 |
|
Euro |
1 |
Rs.68.72 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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 |
|