MIRA
INFORM REPORT
|
Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GTP GRANITES
LIMITED |
|
|
|
|
Registered
Office : |
No. 4/36,
Bharathi Street, Swarnapurai, Salem – 636004, Tamil Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2007 |
|
|
|
|
Date of
Incorporation : |
29.05.1990 |
|
|
|
|
Com. Reg. No.: |
18-002722 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U14102TZ1990PLC002722 |
|
|
|
|
IEC No.: |
3292000441 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEG05934F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACG7711K |
|
|
|
|
Legal Form : |
A closely held
Public Limited Liability Company |
|
|
|
|
Line of
Business : |
Manufacturers, Quarry Owners and Exporters of Cut and Polished
Granite, Slabs and Monuments |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established company having satisfactory track.
Trade relations are fair. Financial position is satisfactory. Payments are usually
correct and as per commitments. The company is doing well. It can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
|
Registered
Office : |
No. 4/36, Bharathi
Street, Swarnapurai, Salem – 636004, Tamil Nadu, India |
|
Tel. No.: |
91-427-2448490 /
2447645 / 2346392 |
|
Fax No.: |
91-427-2448744 /
2341531 / 2346304 |
|
E-Mail : |
|
|
Website |
|
|
|
|
|
Factory: |
·
Unit 1,
151/1, Jagir Ammapalayam, Mamangam, Salem – 636302, Tamil Nadu, India Tel. No. 91-427-2341932/2340722/2340663 Fax No. 91-427-2341531/2341099 E-mail : info@gtpgranites.com ·
Unit 2,
63/1C, Venkatachalapathy, Chetichavadi, Omalur, Salem – 636012, Tamil Nadu, India Tel. No : 91-427-2448733/445943 Fax No : 91-427-2430256 Email : siva@gtpgranites.com |
|
|
|
|
Headquarters: |
·
4/36
Bharathi Street, Swarnapuri, Salem - 636004 Tamilnadu, India Tel. No : 91-427-2346392/96/93 Fax No : 91-427-2346304/03 |
DIRECTORS
|
Name : |
Mr. Sengoda
Gounder Muthurajan |
|
Designation : |
Managing Director |
|
Address : |
134,
Manickavasagam Street, Balaji Nagar, Fairlands, Salem – 636016, Tamilnadu,
India |
|
Date of
Birth/Age : |
03.08.1947 |
|
Date of
Appointment : |
02.09.1996 |
|
|
|
|
Name : |
Mr. Jebamani Jaya
Singh |
|
Designation : |
Whole Time
Director |
|
Address : |
16, Indira Nagar,
Judge Road, Salem – 636 008, Tamilnadu, India |
|
Date of
Birth/Age : |
11.12.1942 |
|
Date of
Appointment : |
20.07.1995 |
|
|
|
|
Name : |
Mr. K.
Kamalakannan |
|
Designation : |
Whole Time
Director |
|
Address : |
1/183 B
Thirumalai Street, P & T Colony, Alagapuram, Salem – 636016, Tamilnadu,
India |
|
Date of
Birth/Age : |
30.07.1963 |
|
Date of
Appointment : |
02.09.1996 |
|
|
|
|
Name : |
Mr. R.
Sivasubramnian |
|
Designation : |
Whole Time Director |
|
Address : |
3, Greenlands,
Nagarmalai Road, Salem – 636016, Tamilnadu, India |
|
Date of
Birth/Age : |
17.10.1956 |
|
Date of
Appointment : |
20.07.1995 |
|
|
|
|
Name : |
Mr. K. Raghuveer |
|
Designation : |
Director |
|
Address : |
4, Newcobe Park,
Mil Hill, London Nw7 3 Q2 |
|
Date of
Birth/Age : |
17.01.1947 |
|
Date of
Appointment : |
30.09.1995 |
|
|
|
|
Name : |
Mr. M.
Balakrishnan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. K. Muthusamy |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Palaniappan
Thangavelu |
|
Designation : |
Additional
Director |
|
Address : |
276, Tvk Road,
Ammapet, Salem – 636 003, Tamilnadu, India |
|
Date of
Birth/Age : |
10.04.1946 |
|
Date of
Appointment : |
16.05.2007 |
|
Other
Directorship: |
·
Golden
Spinning Mills Private Limited ·
Sri Murugan
Spinning Mills Private Limited |
|
|
|
|
Name : |
Mr. Palaniappan
Sundaram |
|
Designation : |
Additional
Director |
|
Address : |
169, Tvk Road,
Ammapet, Salem – 636 003, Tamilnadu, India |
|
Date of Birth/Age
: |
24.07.1948 |
|
Date of
Appointment : |
16.05.2007 |
|
Other
Directorship: |
·
Golden
Spinning Mills Private Limited ·
Sri Murugan
Spinning Mills Private Limited |
|
|
|
|
Name : |
Mr. Palaniappan Gunasekaran |
|
Designation : |
Additional Director |
|
Address : |
58, Marimuthu Street, Ammapet, Salem 636 003, Tamilnadu, India |
|
Date of
Birth/Age : |
17.04.1955 |
|
Date of
Appointment : |
16.05.2007 |
|
|
|
|
Name : |
Mr. Thangavel Ganesh |
|
Designation : |
Additional Director |
|
Address : |
276, Tvk Road, Ammapet, Salem 636 003, Tamilnadu, India. |
|
Date of
Birth/Age : |
31.03.1974 |
|
Date of
Appointment : |
16.05.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names
of Shareholders |
No. of Shares |
|
Mr. S. Muthurajan |
2759948 |
|
Mr. K. Muthusamy |
115511 |
|
Mr. K.
Kamalakannan |
49511 |
|
Mr. S Manickam |
15000 |
|
Ms. M. Baby
Saroja |
93500 |
|
Arora
Trading Limited |
452978 |
|
Appichi Gounder |
40000 |
|
Fairdeal Holdings
Private Limited |
90000 |
|
Wise and Safe
Holdings Private Limited |
40000 |
|
Safe and Sound
Holdings Private Limited |
90000 |
|
Mr. M.
Venkatachalam |
70000 |
|
Total |
3816488 |
Equity share breakup
(Percentage of total equity)
|
S. No. |
Category |
Percentage |
|
1 |
Foreign holdings (Foreign institutional investor(s), Foreign
Companie(s), Foreign financial institution(s), Non-resident Indian(s) or
Overseas corporate bodies or Others |
12.00 |
|
2 |
Directors or relatives of directors |
88.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Quarry Owners and Exporters of Cut and Polished
Granite, Slabs and Monuments |
||||
|
|
|
||||
|
Product |
|
PRODUCTION STATUS
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Granite Slabs |
Cubic Meters |
326400 |
241207 |
GENERAL
INFORMATION
|
No. of
Employees : |
1500 |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
From The Lakshmi Vilas Bank Limited -
Rs. 30.972 millions Post Shipment Credit Secured by
equitable mortgage of the immovable properties of the company and by
hypothecation of stock, consumables, Spares, Plant & Machinery, book
debts both present and future and guaranteed by the directors From ICICI
Limited, Chennai – Rs. 1.336 Millions
|
|
|
|
|
Banking Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name: |
Bala and Sakthi Chartered
Accountants |
|
Tel. No.: |
91-427-210676/212718 |
|
Address: |
7AA, Ramakrishna Road, Sundaram Nursing Home Building, Salem – 636007,
Tamil Nadu, India |
|
|
|
|
Associates/Subsidiaries
: |
·
Ashok
Granites 4/36, Bharathi Street, Swarnapurai, Salem – 636004, Tamil Nadu, India Activity
: Quarrying and
manufacturing of granites slabs and monuments ·
Golden
Spinning Mills Private Limited CIN No.: U17111Z1981PTC001017 ·
Sri Murugan
Spinning Mills Private Limited CIN No.: U17111TZ1981PTC001021 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3816448 |
Equity Shares |
Rs.10/- each |
Rs. 38.164 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
38.200 |
38.165 |
38.165 |
|
|
2] Share
Application Money |
0.000 |
0.482 |
0.482 |
|
|
3] Reserves &
Surplus |
304.800 |
288.345 |
283.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
343.000 |
326.992 |
321.647 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
125.200 |
144.137 |
109.166 |
|
|
2] Unsecured
Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
125.200 |
144.137 |
109.166 |
|
|
DEFERRED TAX
LIABILITIES |
0.000 |
16.872 |
21.435 |
|
|
|
|
|
|
|
|
TOTAL |
468.200 |
488.001 |
452.248 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net
Block] |
168.800 |
204.705 |
263.356 |
|
|
Capital
work-in-progress |
3.700 |
3.717 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.100 |
4.075 |
0.000 |
|
|
DEFERREX TAX
ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS
& ADVANCES |
|
|
|
|
|
|
Inventories |
103.800
|
94.002
|
86.685 |
|
|
Sundry Debtors |
178.000
|
155.016
|
120.866 |
|
|
Cash & Bank
Balances |
7.000
|
9.354
|
5.381 |
|
|
Other Current
Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans &
Advances |
76.900
|
40.193
|
38.271 |
|
Total Current Assets |
365.700
|
298.565
|
251.203 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current
Liabilities |
74.000
|
22.137
|
60.684 |
|
|
Provisions |
4.100
|
0.924
|
1.627 |
|
Total Current Liabilities |
78.100
|
23.061
|
62.311 |
|
|
Net
Current Assets |
287.600
|
275.504
|
188.892 |
|
|
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
468.200 |
488.001 |
452.248 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
515.200 |
471.300 |
420.800 |
|
|
Other Income |
1.600 |
0.300 |
0.100 |
|
|
Total Income |
516.800 |
471.600 |
420.900 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
31.500 |
1.400 |
32.500 |
|
|
Provision for Taxation |
15.000 |
[4.000] |
8.600 |
|
|
Profit/(Loss) After Tax |
16.500 |
5.400 |
23.900 |
|
|
|
|
|
|
|
|
Export Value |
450.752 |
419.966 |
NA |
|
|
|
|
|
|
|
|
Import Value |
31.466 |
48.715 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Manufacturing Expenses |
88.800 |
73.300 |
70.100 |
|
|
Administrative Expenses |
41.400 |
40.000 |
28.400 |
|
|
Raw Material Consumed |
263.200 |
231.400 |
201.900 |
|
|
Increase/(Decrease) in Finished Goods |
[7.200] |
2.500 |
3.300 |
|
|
Salaries, Wages, Bonus, etc. |
29.400 |
29.300 |
27.900 |
|
|
Interest |
11.800 |
11.100 |
6.300 |
|
|
Power & Fuel |
12.400 |
11.900 |
12.000 |
|
|
Depreciation & Amortization |
42.700 |
58.400 |
29.400 |
|
|
Miscellaneous Expenditure |
2.800 |
12.300 |
9.100 |
|
Total Expenditure |
485.300 |
470.200 |
388.400 |
|
KEY RATIOS
|
Year |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt-Equity Ratio |
0.40 |
0.39 |
0.23 |
|
Long Term Debt-Equity Ratio |
0.19 |
0.23 |
0.11 |
|
Current Ratio |
2.43 |
2.22 |
2.49 |
|
TURNOVER
RATIOS |
|||
|
Fixed Assets |
1.44 |
1.33 |
1.57 |
|
Inventory |
5.21 |
5.22 |
5.34 |
|
Debtors |
3.09 |
3.42 |
3.43 |
|
Interest Cover Ratio |
3.67 |
1.13 |
6.16 |
|
Operating Profit Margin(%) |
16.69 |
15.04 |
16.21 |
|
Profit Before Interest And Tax Margin(%) |
8.40 |
2.65 |
9.22 |
|
Cash Profit Margin(%) |
11.49 |
13.54 |
12.67 |
|
Adjusted Net Profit Margin(%) |
3.20 |
1.15 |
5.68 |
|
Return On Capital Employed(%) |
9.22 |
2.77 |
10.21 |
|
Return On Net Worth(%) |
4.93 |
1.67 |
7.73 |
LOCAL AGENCY
FURTHER INFORMATION
Operation
Export turnover registered a marginal growth of 7 % in
comparison to the previous year. The Net profit for the year stood at Rs.17.385
millions after providing for interest, depreciation and tax.
Fixed Assets
- Land
- Building
- Plant and Machinery
- Electrical Installations
- Furniture and Fixture
- Vehicles
- Office Equipment
- Computer
- Miscellaneous Assets
- Wind Electric Generators
- Mines / Quarry Development
FORM 8 :-
|
Name of the
company |
GTP GRANITES
LIMITED |
|
Presented By |
State Bank of India, Siruthozhil Branch, 68, Cherry Road, Salem –
636007 |
|
1) Date and
description of instrument creating the change |
Agreement of
hypothecation of goods and assets dated 24.03.2005 Letter regarding the
grant of individual limit dated 24.03.2005 Memorandum of
deposit for creation of charge for term dated 24.03.2005 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 45.000
millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Hypothecation of
suzlon s64 – 1250 wind turbine generators with accessories Creation of
equitable mortgage by deposited of title deeds of land properties of the
company |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The loan is
repayable installment |
|
5) Name and
Address and description of the person entitled to the charge. |
State Bank of India,
Siruthozhil Branch, 68, Cherry Road, Salem – 636007 |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
|
Corporation identity number or foreign company registrations number of
the company |
U14102TZ1990PLC002722 |
|
Name of the company |
GTP GRANITES LIMITED |
|
Address |
4/36, Bharathi
Street, Swarnapurai, Salem – 636004, Tamil Nadu, India |
|
This Form is for |
Creation of Charge |
|
Type of Charges |
Immovable Property, Movable property (not being pledge) |
|
Particular of the charge holder
|
Lakshmi Vilas Bank Limited Salem Road, Kathaparai, karur 639 006, Tamilnadu, India |
|
Nature or description of the instrument creating charge |
Letter of Hypothecation dated 05.12.2006 F. No. 548 dated 05.12.2006 |
|
Date of the instrument creating charge |
05.12.2006 |
|
Amount Secure by the charge |
Rs. 15.681 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
a)
Rate of
Interest: 16.5% b)
Terms of
Repayment: Repayment of Demand c)
Margin: 25% Extent
and operation of the charge That the goods described in general terms in the schedule hereto which
have already been stored in the premises at 4/36, Bharathi Street, Swarnapuri,
Salem and the goods which shall hereafter be stored in the said premises or
in any other premises in addition to the goods now stored or by way of
substitution for and in lieu of any goods which may from time to time have
been withdraw, are hereby hypothecated to the bank. |
|
Particulars of the Property charged
|
Granite Materials / Blocks Extension of equitable mortgage created on 10.03.1996 by deposit of
title deeds of 8.20 Acres of Factory land and buildings of the company
situated at 63/1C.63/2A,62/2F,62/2E,62/2D,62/2A and 62/2C at Vellakkalpatti,
Omalur Taluk, Salem District Extension of Equitable mortgage created on 03.03.1999 by deposit of
title deeds of 2.16 Acres of Factory Land and Building at S. No. 151/1,
Jagirammapalayam Village, Suramangalam SRD, Salem Taluk. |
OTHER DETAILS:-
Generic Names of
Principal Product/Service of the company is as under:
|
Products |
Model |
Material |
|
|
|
|
|
Book |
B001 |
Granite |
|
Book |
B002 |
Granite |
|
Book |
TWC 22 |
Granite |
|
Decorative Arts |
TWC 25 |
Granite |
|
Decorative Arts |
TWC 26 |
Granite |
Website details :-
Way back in 1989
subject was started by the enterprising entrepreneur Sri. S. Muthurajan with a vision
to make available the finest granite stone monuments to the rest of the world.
All three of their factories are located in Salem city which is 330 kilometers
South of Chennai, in the southern part of India. Situated amidst picturesque
surroundings in the foot hills of Shervaroy mountain ranges, it is some of the
most modern and cleanest Monuments fabrication plants in India. They have
highly skilled labor force with world class master masons working round the
clock to produce stunning designs for the deserving customers. The company
Employees the largest number of man power in the monuments industry. All the
three plants are situated within a radius of 3 kilometers making it convenient
for close interactions and efficient logistic supports. It is a professionally
managed monument company with a high degree of work ethics. Sharp understanding
of customer needs combined with high quality of products and timely delivery
has made subject what it is today, the world's largest producer and exporter of
Granite Monuments
Subject has three
modern Plants equipped with the state-of-art machineries from Pellegrini,
Thibaut and Van Voordan. They have large wire saws, circular saws, auto
polishers, edge cutters and manual polishing machines. Their material handling equipment
has the capacity of 50 Tons and they have complete power back up system with
self generation capacity for uninterrupted power supply. They have their own
quarrying equipments such as excavators, tippers, jet burnners, wire saws,
compressors and drillers.
Subject also
manufactures ita own abrasives, such as sawing segments, polishing bricks, Dia
sheets, buffing plates, etc. and has its R and D facilities for constant
improvements. With sophisticated logistic support system their own transport
vehicles carry the blocks from the quarries to the factories and finished goods
from the factory to the ports. The company is a fully integrated company that
has all the facilities in every shere of monuments production.
It will not be an
exaggeration if they say that the company is one company that can deliver
anything in monuments. Whether it is simple designed cemetery marker or very
complicated public utility project, they can handle them all with ease and
versatility. From a still born child memorials project in Christ Church,
Newzealand to Thermal Spa project in the black forest of Germany, they have
fabricated amazing number of stone wonders of modern world. Simply put it, from
Grave markers to Mausoleumns, from complicated Columns to Tumed Vases and floating
balls. They can fabricate them in any thickness and in an array of colours and
designs. You demand it! they will deliver it!!
When it comes to
quarrying and Sourcing of Raw Material, they adopt a four pronged strategy:
Ř GTP gets some of the finest black and Colour
granite materials from its own quarries.
Ř GTP also receives some material from its
leased quarries from the Government and Private Companies.
Ř GTP also buys its raw material requirements
from various quarry owners and leases.
Ř GTP imports very popular materials such as
Labrador Blue, Emerald Green, Balmoral Red, Hamstead, Nero Impala, Olive Green
Etc., from countries like Norway, Sweden and South Africa
It takes years to
carve a reputation in stone, and yet subject has achieved it in a matter of a
decade. Today subject enjoys an enviable reputation throughout the world and
has bagged many a prestigious award since it's inception in 1989. For more than
a decade subject has been receiving the coveted CAPEXIL export awards which
includes special export awards consecutively for 9 years since 1995. Subject
with its traditional foresight and planning awaits a new century of goals,
achievements and fulfillments
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 42.30 |
|
UK Pound |
1 |
Rs. 84.03 |
|
Euro |
1 |
Rs. 66.42 |
0
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
60 |
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 |
|