MIRA
INFORM REPORT
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Report Date : |
12.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
K U SODALAMUTHU AND COMPANY PRIVATE LIMITED |
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Registered Office : |
428, Mettupalayam Road, Coimbatore – 641 043, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
06.04.1990 |
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Com. Reg. No.: |
18 – 2670 |
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CIN No.: [Company
Identification No.] |
U05110TZ1990PTC002670 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Paper Conversion Machineries. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 148270 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mrs. Swarna Lata |
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Date : |
09.07.2008 |
LOCATIONS
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Registered Office : |
428, Mettupalayam Road, Coimbatore – 641 043, Tamilnadu, India |
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Tel. No.: |
91-422-2441223/ 2438346/ 2441805 |
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Fax No.: |
91-422-2431279 |
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E-Mail : |
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Website : |
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Area : |
11000 Sq. ft |
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Location : |
Owned |
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Factory : |
SF # 73/1 – A, Solavampalayam Post, Kinathukadavu, Coimbatore – 642 109,
Tamilnadu, India |
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Tel. No.: |
91-4259-242383, 241417, 200462 |
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Area : |
20000 Sq. ft |
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Location : |
Owned |
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Sales Office : |
Located At : v New Delhi v Mumbai v Kolkata v Chennai |
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Overseas Office : |
Located At : v USA v United Kingdom v Russia v Bangladesh v Malayasia v South Africa v Syria v Spain v Turkey v Saudi Arabia v Brasil v Italy v Kuwait v Iran |
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Agents : |
Located in India Chennai Mr. Shyam Sundar Narayan M-99/4, 30th Cross Street 7th Avenue, Besant Nagar, Tel : +91-44-24462297 Email:mail2shyams@yahoo.co.in New Delhi Mr.K.P.Vithal Rao Mumbai Mr.S.S.Chettiar Kolkata Mr.A.Nayudu |
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Bangladesh Mr.M.R.Chowdhury Tel : +880-2-9559601 Malaysia & Singapore Mr.A.Barakath Tel : +603-80616117 Syria Eng.Shaker Telefax : +963-33-227535 Uae Mr. S.Seran Telefax: +971-6-5688681 Turkey Mr.Gokhan Yurdusev Tel : +90-212-5191567 Greece Mr.Spyros Papassotiriou / South Africa Mr.Bryan Parry United Kingdom Mr. John Cox Russian Federation Mr. Denys Rustamov Brasil, Uruguay, Argentina, Paraguay, Peru & Chile Mr.Fabio Eminente, Director Distributors For Libya, Tunisia, Morocco & Algeria Mr.Popolani Francesco |
DIRECTORS
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Name : |
Mr. K S Balamurugan |
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Designation : |
Director |
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Address : |
24, 5th Cross, Bharathi Park Road, Coimbatore – 641043,
Tamilnadu, India |
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Date of Birth/Age : |
19.01.1964 |
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Date of Appointment : |
06.04.1990 |
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Name : |
Mr. K S Viswanathan |
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Designation : |
Director |
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Address : |
24, 6th Cross, Bharathi Park Road, Coimbatore – 641011,
Tamilnadu, India |
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Date of Birth/Age : |
15.06.1953 |
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Date of Appointment : |
06.04.1990 |
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Name : |
Mr. K S Subramanian |
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Designation : |
Director |
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Address : |
67, 8th Crosss, Bharathi Park Road, Coimbatore – 641011,
Tamilnadu, India |
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Date of Birth/Age : |
25.11.1954 |
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Date of Appointment : |
06.04.1990 |
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Name : |
Mrs. Parimala Subramanian |
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Designation : |
Director |
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Address : |
Old No. 36, No. No. 67, 8th Cross, Bharathi Park Road,
Coimbatore – 641011, Tamilnadu, India |
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Date of Birth/Age : |
08.04.1961 |
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Date of Appointment : |
15.11.1991 |
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Name : |
Mrs. Shanthi Balamurugan |
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Designation : |
Director |
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Address : |
24, 5th Cross, Bharathi Park Road, Coimbatore – 641043,
Tamilnadu, India |
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Date of Birth/Age : |
29.12.1972 |
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Date of Appointment : |
30.12.1996 |
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Name : |
Mrs. Saraswathi Viswanathan |
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Designation : |
Director |
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Address : |
24, 6th Cross, Bharathi Park Road, Coimbatore – 641011,
Tamilnadu, India |
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Date of Birth/Age : |
17.02.1959 |
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Date of Appointment : |
15.11.1991 |
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Name : |
Mr. Suresh Balamurugan |
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Designation : |
Director |
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Address : |
24, 5th Cross, Bharathi Park Road, Coimbatore – 641043,
Tamilnadu, India |
KEY EXECUTIVES
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Name : |
Mr. Venkatesh Indumathi |
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Designation : |
Company Secretary |
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Address : |
7 C, Nachimuthu Layout, K K Pudur, Coimbatore – 641 038, Tamilnadu,
India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 28.09.2004
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Names of Shareholders |
No. of Shares |
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Mrs. Shanthi Balamurugan |
8000 |
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Mr. K S Viswanathan |
117000 |
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Mr. K S Subramanian |
114500 |
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Mr. K S Balamurugan |
123500 |
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Mrs. Saraswathi Viswanathan |
18500 |
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Mrs. Parimala Subramanian |
18500 |
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Total |
400000 |
Equity share breakup
(Percentage of total equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Paper Conversion Machineries. |
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Products : |
v
Paper Cone Production Line v
Paper Tube and
Core Production Line v
Edge Protector
Production Line v
Paper Core
Polishing Machine v
Paper Core
Shredding Machine |
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Brand Names : |
“Sodaltech” |
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Exports : |
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Countries : |
v Worldwide |
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Terms : |
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Selling : |
L/C, D/D |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Suppliers : |
v Executive Forms
Private Limited v Aspiration
Computer Forms Private Limited v Trinity Papers India
Private Limited v Usam Technology
Solutions Private Limited v ETA Biopower
Systems Private Limited v Kamalin
Engineering Industries v Getit Info-media
Tags Private Limited |
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Customers : |
v Wholesalers v Retailers v End Users v OEM’s Major Customers v APR Packaging
Limited v Lords Fibre v Archana paper
Products private limited v Bharath paper
Conversions v Sodal Systems
and Software |
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No. of Employees : |
Total : 200 (Office : 150, Factory: 50) |
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Bankers : |
v Oriental Bank of
Commerce 1057, Jaya Enclave, Avinashi Road, Coimbatore – 641018, Tamilnadu,
India v Indian Bank Mettapalayam v Karur Vysya Bank Main Branch, Oppanakara Street, Coimbatore – 641001, Tamilnadu, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Karthikeyan and Jayaram Chartered Accountants |
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Address : |
399, Alagesan Road, Coimbatore – 641 011, Tamilnadu, India |
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Tel. No.: |
91-422-2447759 |
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Fax No.: |
91-422-2433800 |
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Memberships : |
v Engineering Export Promotion Council v Indo-German Chamber of Commerce v Indian Institute of Packaging v Confederation of Indian Industry v International Molded Pulp Environmentral Packaging Association (IMPEPA), USA |
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Associates : |
v Sodaltech Exports Address : 429, Mettupalayam Road, Coimbatore – 641 001, Tamilnadu, India. Activity – Exporters of Paper Conversion Machineries. Established – 1995 v Bharath Paper Conversions Adsdress : 24, 5th Cross, Bharathi Park Road, Coimbatore - 641 001, Tamilnadu, India Activity – Manufacturers and Exporters of Paper Products. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,00,000 |
Equity shares |
Rs. 10/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4,00,000 |
Equity shares |
Rs. 10/- each |
Rs. 4.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.000 |
4.000 |
4.000 |
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2] Share Application Money |
19.923 |
19.423 |
15.557 |
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3] Reserves & Surplus |
5.731 |
6.553 |
6.464 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
29.654 |
29.976 |
26.021 |
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LOAN FUNDS |
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1] Secured Loans |
11.189 |
1.136 |
0.918 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
11.189 |
1.136 |
0.918 |
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DEFERRED TAX LIABILITIES |
1.421 |
0.944 |
0.824 |
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TOTAL |
42.264 |
32.056 |
27.763 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.530 |
6.883 |
9.446 |
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Capital work-in-progress |
6.667 |
3.326 |
0.000 |
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INVESTMENT |
0.158 |
0.158 |
0.158 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
21.720
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20.143 |
15.835 |
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Sundry Debtors |
6.272
|
5.361 |
8.337 |
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Cash & Bank Balances |
1.507
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1.116 |
0.566 |
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Other Current Assets |
1.813
|
1.228 |
0.933 |
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Loans & Advances |
4.974
|
2.022 |
2.135 |
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Total
Current Assets |
36.286
|
29.870 |
27.806 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
17.385
|
5.750 |
7.662 |
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Provisions |
3.996
|
2.437 |
1.993 |
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Total
Current Liabilities |
21.381
|
8.187 |
9.655 |
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Net Current Assets |
14.905
|
21.683 |
18.151 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.005 |
0.007 |
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TOTAL |
42.264 |
32.056 |
27.763 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover ( Including Other Income) |
|
121.944 |
146.852 |
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Total Income |
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121.944 |
146.852 |
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Profit/(Loss) Before Tax |
|
0.145 |
1.082 |
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Provision for Taxation |
|
0.677 |
0.304 |
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Profit/(Loss) After Tax |
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(0.532) |
0.778 |
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Expenditures : |
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Other Expenditure |
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121.799 |
145.770 |
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Total Expenditure |
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121.799 |
145.770 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
(0.44)
|
0.53 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
0.12
|
0.74 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.12
|
0.74 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.04 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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0.72
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0.27 |
0.37 |
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Current Ratio (Current Asset/Current Liability) |
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1.70
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3.65 |
2.88 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v Lords Fibre
v Bharat Paper Conversions
Trust Seal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
K U Sodalamuthu and Company Private Limited |
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Statutory Approvals |
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Income Tax Registration |
AAACK7236 M |
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VAT / TIN Registration |
33832000551 |
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Import Export Code |
0488006091 |
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Name of Bank |
Oriental Bank of Commerce |
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Current Account Number |
10441010007290 |
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Credibility Factors |
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India Mart Client Since |
8 Years |
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Trade Affiliations |
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SSI Registration |
180406634 |
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Standards and Certifications |
ISO Certificate – 9001: 2000 dated till December 2008 |
Form 8
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This form is for |
Creation of charge |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U05110TZ1990PTC002670 |
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Name of the company |
K U SODALAMUTHU AND COMPANY PRIVATE LIMITED |
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Address |
428, Mettupalayam Road, Coimbatore – 641 043, Tamilnadu, India |
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Type of Charges |
v Movable property (not being pledge) v Others |
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Particular of the charge holder |
Name : Oriental Bank of Commerce Address : Coimbatore Branch, 1057, Jaya Enclave, Avinash Road City : Coimbatore State : Tamilnadu ISO country code : IN Pin code : 641018 e-mail ID: bm1044@obc.co.in |
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Nature or description of the instrument creating or modifying the charge |
v Agreement of Term Loan v Agreement of hypothecation of assets |
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Date of the instrument creating charge |
29.03.2007 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 3.400 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest TL – PLR 1% (A+) Normal Rate of 7.75% for PC and Export Bills Terms of repayment Term Loan – Repayable in 36 Equal Monthly Installments of Rs. 0.052 million with first installment falling due on 29.04.2007 Margin TL and PC – 25% Export Bills – Nil BG – 10% by way of CDR/DR Extent and operation of the charge The term loan is secured by no. 1 of Hass USA make vertical machining centre model VF – 2, PC/FBD/BG is secured by Raw materials, WIP, Finished Goods and automatic machines for conversion and also lien over title to goods and goods covered under bills of lading. Others The Total amount of Rs. 3.400 millions is Bifuricated as under – Term loan – Rs. 1.900 millions and PC/FBD/BG/FDUBP – Rs. 1.500 millions. |
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Short particulars of the Property charged |
The term loan and {C/FBD/BG/FDUBP of Rs. 1.900 millions and Rs. 1.500 millions respectively is covered by the securities detailed under column 12(d) |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
Form 8
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Name of the company |
K U SODALAMUTHU AND COMPANY PRIVATE LIMITED |
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Presented By |
Mr. K S Balamurgan |
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1) Date and description of instrument creating the change |
Hypothecation agreement for term loan (Hypothecation of motor, vehicle ambassador, Nova Diesel, Deluxe Car dated 21.08.1995. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.225 million |
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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 |
Ambassador Nova Diesel Deluxe Car |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1. The loan repayable in 36 monthly installments – Rs. 6250/- per instalment for 36 months. 2. Interest @ 7.75% over the rate of interest with minimum of 20.25% p.a. compounded monthly (Quarterly or at such rate as may be revised as per the instruction of the Reserve Bank of India from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
The Karur Vysya Bank Main Branch, 577, Opp. Ankara Street, Coimbatore – 641001, Tailnadu, India |
Business
Subject is engaged in as manufacturers and exporters of Automatic Machineries for Paper Conversion.
The company has so far supplied more than 500 units all over India and exported to Mexico, Sri Lanka, Nigeria, Bangladesh, Egypt, Thailand, Turkey, Singapore, Malaysia, Kuwait, Kenya, Zambia, Saudi Arabia, UAE, Brazil, Syria, South Africa, Iran, Libya, Ghana, Sudan, Russia, Bulgaria, Indonesia, etc.
The company had won export award for its outstanding export performance for 11 consecutive years and pacmachine awards for excellence in machinery design. It had also won the All- India Awards for the year 1996-97 and 2000-01 and a proud recipient of the prestigious Jamnala Bajaj Award for the Fair Business Practices.
The machines are manufactured under stringent quality control to ensure reliability and trouble-free performance. The company offers a total package of services including in plant training, market guidance, prompt after sales service etc. It had been shipping more than 90% of its production for exports.
Trade Terms
v Global Trust Bank Limited, Avinashi Road, Coimbatore – 641018
Contact Person – Mr. Rajasekar
v Indian Bank, ADUC Branch, Mettupalayam Road, Coimbatore – 641043
The company is enjoying market share of 96.5% in India and 36% in Exports. The company is proud recipient of EEPC export award for the 9 consequent years and Pacmachine Award for Excellence in Packaging Machinery Design. Shortly receiving ISO 9002 Certificate.
Major Agents
v Halcyon Engineers (India) Private Limited, New Delhi
v Esstex Engineers and Trading Company Private Limited, Mumbai, Maharashtra
v Capron Marketing Private Limited, Kolkata, West Bengal
v The Business Friends Limited, Bangladesh
v B. J. Impex and Marketing, Malaysia and Singapore
v Shatex, Syria
v Novatex Trading, UAE
v Go-Khan Consulting and Trade Company Limited
v Eastern Corrugated (Pty) Limited, South Africa
v Butler Cox and Company, U.K
v L. F. Popolani, Algeria
As Per Website Details
Profile
Creative thinking and an innate
sense of observation are vital ingredients for any successful business venture.
The Late Mr. K.U.Sodalamuthu had them in him when he observed the potential in
Paper Conversion Machinery. He chose an uncommon industry which was largely
related to a common one - Textiles. It is a laudable fact that an innovative
brand of industry has its origin in a city popularly known as "Manchester
of South India".
The Brand - Sodaltech holds an amazing 96% of the Indian Market
for its paper Conversion Machinery.The Company has more than 500 installations
to its credit worldwide, with 36.5% of the international market.
The Industry has continued to
climb the ladder of success steadily over the past 37 years. The three sons of
the founder have been actively involved in the Company's remarkable success.
The eldest Son Mr.K.S.Viswanathan handles the Production Department .The second
son Mr.K.S.Subramaniam is responsible for the Marketing while the third son
Mr.K.S.Balamurugan takes care of the Administration. Sodaltech has maintained
its tempo throughout meeting the challenges thrown out by the rapidly advancing
technology, head on. New enhancements are a permanent part of the show based on
research and surveys. Rich in experience and always on the lookout for
challenge, Sodaltech is a versatile brand which can meet any form of
requirement adapting itself to different levels of economy and technology.
Project
Paper Tube and
Core Production Line
Edge Protector
Production Line
|
ACTIVITY |
To manufacture Paper cones used in textile yarn winding. |
|
TYPE OF PRODUCTS |
Paper cones of size 5 Deg 57' Embossed and velvet finish, 4 Deg 20'
embossed, 3 Deg 30' velvet finish Rayon cones and 3
Deg 30' velvet finish jumbo cones. |
|
OUTPUT AT 100% EFFICIENCY |
Approx.15 million cones per annum (3 shifts per day basis) |
|
PLANT & MACHINERY |
Fully automatic Paper cone Plant model ACM 55 consists of mainly the
following with a capacity of 40 to 45 cones / minute (or) 3000 cones /
hour (approx) : a. Automatic cone making machine with standard accessories
(Inner logo & outer strip printer) b. On-Line Drier (Electrical) c. Cone Finishing machine d. Any one standard size (conicity) cone manufacturing
attachment (tool set) e. One year standard set of spares f. Paper testing standard equipments g. Paper cone strength tester h. Knife grinder i. Glue Preparation machine j. 2 sets of Parts list-cum-Instruction manual with trouble
shooting with CD support |
|
LAND & BUILDING (APPROX). |
400 SQ.MTRS |
|
POWER REQUIRED |
60 KW approx. |
|
LABOUR REQUIRED |
1 Operator + 2 helpers per shift |
|
RAW MATERIAL REQUIREMENT |
Recycled kraft paper reels |
|
TECHNICAL KNOW- HOW, IN-PLANT TRAINING AND MARKETING GUIDANCE |
As Sodaltech has their own Paper Cone Manufacturing Division, using the
above type Plant, an extensive training and guidance can be provided
alongwith latest technical Know-how, at reasonable extra cost. |
Note: The above technical details are given based on some operating conditions. There may be some changes in practical operation.
PAPER CONE PLANT
(REEL MODEL – JAPANESE TYPE )
|
ACTIVITY |
To manufacture Paper cones used in yarn winding |
|
TYPE OF PRODUCTS |
Paper cones of size 9 Deg 15' Embossed, 5 Deg 57' embossed
and velvet finish and 4 Deg 20’ embossed using relevant extra
attachments |
|
OUTPUT AT 100% EFFICIENCY |
Approx. 9 million cones per annum (3 shifts per day
basis) |
|
PLANT & MACHINERY |
Paper Cone Plant (Reel Model) PCF 1500 consists of : 1. Paper cone Pattern Forming machine 2. Glueing machine 3. Paper Cone winders – 2 Nos. 4. Paper cone finishing machine (5-in-1) 5. Glue Preparation machine |
|
LAND & BUILDING (APPROX). |
250 Sq.Mtrs |
|
POWER REQUIRED |
22 KW without Drier |
|
LABOUR REQUIRED |
5 Persons per shift |
|
RAW MATERIAL REQUIREMENT |
Kraft Paper reels, Starch glue, casein glue etc |
|
TECHNICAL KNOW- HOW, IN-PLANT TRAINING AND MARKETING GUIDANCE |
As Sodaltech has their own Paper Cone Manufacturing Division,
an extensive training and guidance can be provided along with latest
technical know-how at reasonable extra cost. |
Note: The above technical details are given based on some operating conditions. There may be some changes in practical operation.
News
Sodaltech wins EEPC All India Trophy for Highest
exporters for the year 2001-2002 and All India Award (Export excellence) for
the year 2002-2003.
Managing Director Mr. K.S. Balamurugan receiving the award from Mr. Kamalnath, Union Minister
of Commerce and Industry, Government of India
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 :
The 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.
The 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. 42.72 |
|
UK Pound |
1 |
Rs. 84.42 |
|
Euro |
1 |
Rs. 67.38 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|