MIRA
INFORM REPORT
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Report Date : |
26.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
FLS AUTOMATION INDIA PRIVATE LIMITED |
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Formerly Known As : |
FLSMIDTH LIMITED |
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Registered Office : |
Capital Tower, 180 Kodambakkam High Road, Chennai – 600 034, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
18.04.2000 |
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Com. Reg. No.: |
18-44765 |
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CIN No.: [Company
Identification No.] |
U26941TN2000PTC044765 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject provide services for the Cement and Minerals Industries, Electrical
Power Engineering, Electrical System Design, Elevator Bucket Bolts, Power
Plant, Structural Fabricating Engineering, High Pressure Fans, Filters, Bag
Filters, Pulse Jet Filters, Filtration Equipment, Flow Meters, Gas Analysis
Systems, Gas Detectors, Carbon Monoxide Gas. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 4200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is new closely held private company having part of
multi-national operations. Available information indicates high financial responsibility of the company.
Trade relations are fair. Payments are correct and as per commitments. The company can be considered good for any normal business dealings. |
LOCATIONS
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Registered Office : |
Capital Tower, 180 Kodambakkam High Road, Chennai – 600 034,
Tamilnadu, India |
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Tel. No.: |
91-44-28276030 / 6343 / 9569 / 28311480 |
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Fax No.: |
91-44-28279393 |
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E-Mail : |
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Customer Services : |
Vigerslev Alle 77, DK-2500 Valby Copenhagen, Denmark |
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Tel. No.: |
91-45-36181000 |
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Fax No.: |
91-45-36441119 |
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Sales Office : |
Located at ·
China ·
India ·
Mexico ·
France ·
Indonesia ·
Turkey ·
Middle East ·
Spain ·
Asia ·
South Africa ·
United Kingdom |
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Factory : |
Located at Arakkonam, Tamil Nadu |
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Project Centres : |
F. L. Smidth Inc 2040 Avenue C, Bethlehem, PA 18017-2188, United States |
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Tel. No.: |
+ 1 – 610-264-6011/ +1 – 800-523-9482 |
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Fax No.: |
+1 – 610-264-6170 |
DIRECTORS
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Name : |
Mr. Rasmussen L Benny |
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Designation : |
Director |
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Address : |
F L Smidth Limited, 180 K H Road, Chennai – 600 034, Tamilnadu, India |
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Date of Birth/Age : |
05.05.1948 |
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Date of Appointment : |
16.05.2001 |
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Name : |
Mr. Skjoth Poul |
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Designation : |
Director |
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Address : |
F L Smidth Limited, 180 K H Road, Chennai – 600 034, Tamilnadu, India |
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Date of Birth/Age : |
22.06.1952 |
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Date of Appointment : |
16.05.2001 |
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Name : |
Mr. Venderby Christian |
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Designation : |
Director |
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Address : |
9-1B T Block, Venus Colony, II ST Alwarpet, Chennai – 600 018,
Tamilmnadu, India |
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Date of Birth/Age : |
01.08.1969 |
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Date of Appointment : |
10.06.2002 |
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Name : |
Mr. Anders Christian Bech |
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Designation : |
Managing Director |
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Address : |
2/151, Rajan Gardens, Uthandi, Chennai – 600 119, Tamilnadu, India |
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Date of Birth/Age : |
23.10.1960 |
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Date of Appointment : |
21.07.2006 |
KEY EXECUTIVES
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Name : |
Mr. V Vijayagopal |
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Designation : |
Secretary |
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Address : |
GF 2 Akshaya 12, Chamie R S Road, Nandanam, Chennai – 600 035,
Tamilnadu, India |
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Date of Birth/Age : |
27.05.1962 |
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Date of Appointment : |
06.11.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 21.06.2005)
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Names of Shareholders |
No. of Shares |
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Dan Indian Holding AP |
1699900 |
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F L Smidth A/S |
100 |
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Dan Indian Holding AP |
300000 |
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Total |
2000000 |
Equity share breakup (percentage of total equity)
(As on 30.06.2006)
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Category |
Percentage |
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Financial holdings (Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject provide services for the Cement and Minerals Industries, Electrical
Power Engineering, Electrical System Design, Elevator Bucket Bolts, Power
Plant, Structural Fabricating Engineering, High Pressure Fans, Filters, Bag
Filters, Pulse Jet Filters, Filtration Equipment, Flow Meters, Gas Analysis
Systems, Gas Detectors, Carbon Monoxide Gas. |
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Products : |
·
Prefabricated metal buildings,
greenhouses, glazed metal structures, verandas ·
Testing and analysing
equipment for the chemical, pharmaceutical and cosmetic industries ·
Regulating and control systems
and equipment NES ·
Heat exchangers, cooling
towers, water condensers and radiators ·
Ovens, kilns and furnaces for
industrial use ·
Air filtration, dust and fume
collection and extraction equipment ·
Crushers, mills and
pulverisers ·
Screeners, mixers, blenders, granulators
and centrifuges ·
Filters and strainers ·
Simulators ·
Underground mining machinery
and equipment ·
Opencast mining machinery and
equipment ·
Quarrying and stoneworking
machinery and equipment ·
Cement and plaster making,
chalk and lime processing plant and equipment ·
Heavy mechanical handling
equipment, winches and cranes ·
Continuous mechanical handling
and storage equipment for bulk ·
Continuous mechanical handling
and storage equipment for unit loads ·
Heat treatment furnaces for
metal |
GENERAL INFORMATION
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No. of Employees : |
Above 2000 |
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Bankers : |
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ICICI Bank Limited No.110, Prakash Presidium, Nungambakkam
High Road, Chennai – 600 034, Tamilnadu, India · ABN AMRO Bank N.V., Mumbai, Maharashtra, India ·
Canara Bank |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
5, Nandanam Extension, 1st Street Nandanam, Chennai – 600
035, Tamilnadu, India |
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Subsidiaries : |
·
F L Smidth Infotech Private Limited · F. L. Smidth Limited Rua Nebraska 443, Brooklin Paulista – CEP 04560, Caixa Postal 3506, 01051 Sao Paulo-SP, Brazil Tel. : + 55-11-5532-8500 Fax : +55-11-5533-9612 E-mail : flsmidth@flsmidth.com.br
· F. L. Smidth Canada Limited 10, Thornmount Drive, Scarborough, Ontario M1B 3J4, Canada Tel. : +1-416-2848200 Fax : +1-416-2848348
· F. L. Smidth Representative Office China East Lake Office Building, 5th Floor, 35, Dong Zhi Men Wai Da Jie, Beijing 100027, P. R. of China Tel.: +86-106 4677070 Fax : +86-106 4677071 E-mail : info@flsmidth.com.cn
· F.L. Smidth GmbH Am Seestern 8, 40547 Dusseldorf, Germany Tel. : +49-211-591-038 Fax : +49-211-593-223 E-mail : flsmidth.ge@t-online.de
· FLS Indonesia P. T. Fajar Laksana Sejahtera, Gedung BRI II, Suite 2101, J1. Jendral Sudirman 44-46, Jakarta 10210, Indonesia Tel. : +62-21-251-2738/2739 Fax : +62-21-251-2740 E-mail : fls@flsindo.co.id
· F. L. Smidth & C. Italiana S.r.L. Via G. Marconi, 20, I – 24030 Valbremo, Italy Tel. : +39 035-46 83 11 Fax : +39 035-46 08 38
· FLS Pakistan [Pvt.] Limited 1st Floor, Ali Plaza, Fazal-e-Haq Road, Blue Area, Islamabad, Pakistan Tel. : +92-51 28 79 141 Fax : +92-51 28 79 142 E-mail : flspak@isb.comsats.net.pk
· F. L. Smidth S.A. Carretera de La Coruna, km. 17, 8 E – 28230 Las Rozas [Madrid], Spain Tel. : +34-91-634-90-00 Fax : +34-91-636-11-50 E-mail : fls@fls-sp.com
2/4 rue Vincent Van Gogh, F – 93364 Neuilly-Plaisance, Cedex, France Tel. : +33-1-4944-6800 Fax : +33-1-4308-5099 /+33-1-4308-5188 E-mail : fls.france@fls-fr.com
· Larsen & Toubro Limited [Licensee] Cement Machinery Division, Powai Works, P. O. Box 8901, Mumbai – 400072, Maharashtra, India Tel. : 91-22-28581401 Fax : 91-22-28581126 Website : http://www.larsentoubro.com
· F. L. Smidth S.A. de C.V. Edificio F.L.S. San Alberto # 406, Residencial Santa Barbara, Garza Garcia, N. L. 66260, Mexico Tel. : +52 81 1001 9547 Fax : +52 81 1001 9545 E-mail : flsmidth@fls-me.com.mx
· F. L. Smidth Polska Sp. z.o.o. Biuro Katowice, ul. Chorzowska 50, 40-151 Katowice, Poland Tel. : +48 32 731 51 14-16 Fax : +48 32 731 51 13 E-mail : buj@flsmidth.pl
· F. L. Smidth [pty] Limited Constantia Park Lakeview House, Cnr. Hendrik Potgieter & 14th Avenue, Constantia Kloof, Roodepoort, South Africa
17, Lansdowne Road, Croydon, CR9 2JT, London, United Kingdom Tel. : +44-208-603-1500 Fax : +44-208-603-1549 E-mail : fls@flsmidth.co.uk
· F. L. Smidth Regional Representative Office F. L. Smidth A/S, Hanoi Representative Office 15B Nguyen Thuong Hien Str., Hai Ba Trung District, Hanoi, Vietnam Tel. : +84-4-942-1227 / +84-4-942-1305 Fax : +84-4-942-1254 E-mail : flsmidth@tuanduc.netnam.vn
· F. L. Smidth · Liasion Office Turkey C/o Trakmas A. S., Macka Cad. Feza Apt., 1/1 80200 Tesvikiye, Istanbul, Turkey Tel. : +90-212-232-30-31 Direct Line : +90-212-296-93-26 Fax : +90-212-296-93-43 E-mail : trakmas@superonline.com |
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Sister Concern : |
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KCP Biotech Limited, Biotech Park, Shameerpet,
Hyderabad To Manufacture Biotech related Products. ·
KCP Heavy Engineering
Plant II , Chennai To execute medium to large sized fabrication projects. ·
KCP Hydel Power Division,
Andhra Pradesh Canal of Krishna river to generate 8 MW of power. ·
KCP Vietnam Industries Limited Manufacturer of sugar at Thua
Thien Hue Province at Central
Vietam. ·
KCP Technologies Limited To provide high quality IT solutions and Engineering Technical
Services. ·
FCB-KCP Limited, A joint venture with Fives Cail Group of France for the design and
manufacture of Sugar Plants. ·
KCP Sugar Manufacturing
Division demerger into a separate company, KCP sugar and industries Limited ·
Arakonam Castings and
Forging Limited A joint venture between the KCP Limited and the Tamilnadu Industrial Development
Corporation ·
Fuller KCP Limited A joint venture with Fuller International Inc, U.S.A. was launched,
for the design and manufacture of large sized cement plants and other mineral
processing equipments. KCP divested its stake to FL Smidth, Denmark in 1996. ·
EIMCO-KCP Limited started a joint venture between the KCP limited and EIMCO Corporation,
U.S.A. Currently a 100% subsidiary of KCP Sugar and Industries Limited ·
KCP Cement Division,
Macherla, Andhra Pradesh India’s 1st dry process kiln was installed at Macherla by
HUMBOLDT AG, Germany in 1958 ·
KCP Heavy Engineering
Division Plant I, Tiruvottiyur, Chennai An integrated manufacturing facility, which caters to a wide range of
heavy mechanical equipment and sub systems for core sector industries. ·
An 800 TCD Sugar Plant
was setup at Vuyyuru, Andhra Pradesh, India by Sri V. Ramakrishna, Founder
Chairman of KCP |
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Parent Company : |
KCP Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2005 |
31.12.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
20.000 |
20.000 |
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2] Share Application Money |
|
98.433 |
0.000 |
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3] Reserves & Surplus |
|
727.940 |
15.139 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
846.373 |
35.139 |
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LOAN FUNDS |
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1] Secured Loans |
|
13.542 |
0.000 |
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2] Unsecured Loans |
|
40.149 |
40.574 |
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TOTAL BORROWING |
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53.691 |
40.574 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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900.064 |
75.713 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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296.455 |
11.941 |
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Capital work-in-progress |
|
16.495 |
0.000 |
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INVESTMENT |
|
1794.833 |
9.200 |
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DEFERREX TAX ASSETS |
|
13.035 |
2.143 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
147.443 |
5.746 |
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Sundry Debtors |
|
396.307 |
22.954 |
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Cash & Bank Balances |
|
84.083 |
8.256 |
|
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Other Current Assets |
|
0.291 |
0.000 |
|
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Loans & Advances |
|
356.602 |
37.838 |
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Total
Current Assets |
|
984.726 |
74.794 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Current Liabilities |
|
2178.030 |
21.835 |
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|
Provisions |
|
27.450 |
0.530 |
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Total
Current Liabilities |
|
2205.480 |
22.365 |
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Net Current Assets |
|
(1220.754) |
52.429 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
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900.064 |
75.713 |
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KEY RATIOS
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PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
2.67 |
1.79 |
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Current Ratio (Current Asset/Current Liability) |
|
|
0.45 |
3.34 |
LOCAL AGENCY
FURTHER INFORMATION
History
The Company was first incorporated as
Fuller-KCP Limited on December 3, 1984. On May 26, 1997, its name was changed
to Fuller India Limited. Again on February 12, 2004, it was rechristened as FL
Smidth Limited
Now, the company is likely to be remaned as FLS
Automation India Private Limited
These name changes have occurred more or less
according to the changes in the ownership and management of the parent Danish
company.
Form No. 8
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Name of the company |
FLS AUTOMATION INDIA PRIVATE LIMITED |
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Presented By |
FLS AUTOMATION INDIA PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Deed of
Hypothecation dated the 5th day of October, 2005 executed by FLS
Automation India Private Limited (therein and hereinafter referred to as the
“Borrower”) in favour of ICICI Bank Limited (“ICICI”). |
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2) Amount secured by the charge/amount owing on the securities of charge |
Secured working
capital facilities not exceeding Rs.55 millions (Rupees fifty five million)
(the aforesaid working capital facilities as renewed / modified / amended
from time to time are hereinafter collectively referred to as “the
Facilities”) extended / granted to the Borrower. |
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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 |
The properties
more particularly described in hereto (hereinafter collectively referred to
as “the Assets). |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1.
Covenant by
the Borrower to comply / to ensure compliance with all the terms and
conditions set out in the Master Facility Agreement dated October 5, 2005
entered between the Borrower and ICICI, as
modified amended / renewed / supplemented from time to time
(hereinafter collectively referred to as “the Agreement”). 2.
The Borrower
shall pay/repay all amounts in respect of the Facilities and pay interest and
all other monies in the manner set out in the Agreement and the Transaction
Documents (as defined in the Agreement). 3.
The Assets
were thereby hypothecated inter alia to ICICI as and by way of first charge,
as specified in hereto, as security for and be charged with the repayment of
the Facilities, all interest and other monies payable by the Borrower to
ICICI as specified in the Agreement and the other Transaction Documents. 4.
The Borrower
to keep the Assets in marketable and good condition and also insured as
provided in the Deed of Hypothecation / the Agreement. 5.
Power of
Entry, power to take charge and / or possession of seize, recover, receiver,
appoint receivers of land / or sale by auction or private contract, dispatch
for realization or otherwise dispose of or deal with all or any part of the
Assets etc. as provided in the Deed of Hypothecation. 6.
All other
terms and conditions as contained in the Deed of Hypothecation. |
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5) Name and Address and description of the person entitled to the charge. |
ICICI Bank Limited No.110, Prakash Presidium, Nungambakkam High Road, Chennai – 600 034,
Tamilnadu, India |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
As per Website Details:
FLSmidth India
FLSmidth Private Limited
FLSmidth House, 34, Egatoor, Kelambakkam (Old Mohabalipuram
Road – Chennai, 603 103, Tamil Nadu, India
Recolated in May 2007 from central Chennai
(previously Madras) to approx. 30km south of the city along the IT-corridor or
Rajiv Gandhi Road.
FLSmidth India
|
1964 |
FLSmidth establish license agreement with L
and t for supplies in India |
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1984 |
Fuller Company of USA establishes joint
venture with KCP Limited of Chennai. |
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1997 |
Fuller takes 100% control of Fuller – KCP
and creates Fuller India. |
|
2004 |
Fuller India is named FLSmidth Limited and
the License agreement with L and T ceases to exist. |
|
2006 |
FLSmidth Private limited is established |
Summary projects
·
High cement consumption growth rates are
expected in the foreseeable future in India
·
FLSmidth is well positioned having the biggest
set-up in India and benefiting from globally integrated engineering tools
·
Trend setting production equipment and biggest
product portfolio
·
Best in class with energy consumption,
emission control technology and alternative fuels
Summary aftermarket
·
All aftermarket competencies available in
India
·
Pro-active plant service program
·
Specialized plant maintenance services
·
Warehousing for rapid response
·
FLSmidth Training Institute
·
and M launched this year
News
Proposed merger scheme — FL Smidth gives 2 options for shareholders
Kohinoor Mandal
Nilanjan Dey
Kolkata
, Jan. 7
FL
Smidth Ltd, the Indian outfit of the Danish cement plant manufacturer and
consultant, is not giving its minority shareholders any chance to opt out of
its proposed amalgamation scheme with its sister concern, FLS Automation India
Pvt Ltd.
After
operating in India for decades (incorporated in 1984), the company has just
initiated the process of becoming a privately-held organisation from being a
publicly listed company.
FLS
Automation, established only in 2000, is engaged in the business of control
system and automation for cement and other process industries. Its promoter is
the Denmark-based Dan India Holdings ApS. Both, FLS Automation India and FL
Smidth are Chennai-based and their registered head offices share the same
address.
According
to the scheme of amalgamation prepared by consultant Ernst & Young and U
Gopinath & Co, a CA firm, the minority shareholders were given two options.
The
first option stated that they would be given an eight per cent non-convertible
redeemable secured debentures worth Rs 85 for every one equity share (of Rs 10
face value) held by them. In the second option, FLS Automation India would pay
the minority shareholders of FL Smidth Rs 85 for every equity share (of Rs 10
face value) held by them.
If
a minority shareholder does not accept any of the two options, then FLS
Automation India would consider that the shareholder has "deemed to have
accepted" the second option. Then, the company would pay the minority
shareholder accordingly (Rs 85 per equity share).
Another
aspect of interest of the amalgamation proposal is that a bigger company is
being merged into a smaller entity. While FL Smidth's authorised share capital
and paid capital is Rs 20 crore and Rs 10.25 crore respectively, that of FLS
Automation India is Rs 2 crore and it is fully paid up.
The
amalgamation proposal has already been approved by the boards of directors of
FL Smidth and FLS Automation India. The appointed date for the scheme of
amalgamation is January 1, 2005.
The
amalgamation proposal stated that there would be two record dates. In the first
record date, Dan Indian Holdings would issue the equity shares of FLS
Automation India in favour of the promoters of FL Smidth. In the second record
date, the minority shareholders would have to specify the option they are
opting for.
Four
names in two decades
Once
the amalgamation with FLS Automation India is formally over, FL Smidth Ltd
would have the distinction of operating in India with four different names
within a time span of two decades.
The
company was first incorporated as Fuller-KCP Ltd on December 3, 1984. On May
26, 1997, its name was changed to Fuller India Ltd. Again on February 12, 2004,
it was rechristened as FL Smidth Ltd.
Now,
the company is likely to be renamed as FLS Automation India Pvt. Ltd.
These
name changes have occurred more or less according to the changes in the
ownership and management of the parent Danish company, a senior corporate
observer said.
Despite
these changes in nomenclature, the company has remained a leader with an
overwhelming market share.
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.42.23 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.66.41 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|