MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
IMPERIAL AUTO INDUSTRIES LIMITED |
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Registered Office : |
202, Kaushal Bazar, 32-33 Nehru Place, New Delhi – 110019, India |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.04.1975 |
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Com. Reg. No.: |
55-7737 |
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CIN No.: [Company
Identification No.] |
U74899DL1975PLCO07737 |
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TAN No.: (Tax Deduction & Collection Account No.) |
RTKI00449B |
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PAN No.: (Permanent Account No.) |
AAACI0645J |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Manufacturers and Exporters of Motor Vehicle Parts, Hydraulic Parts, IC Engine Parts and other Auto Parts |
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 3600000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track. Trade relations are fair. General financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
202, Kaushal Bazar, 32-33 Nehru Place, New Delhi – 110019, India |
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Tel. No.: |
91-11-26419619/22619619/26412022 |
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Fax No.: |
91-11-26412736 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Location : |
Commercial |
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Corporate Office / Factory : |
Opposite Railway Goods Shed, Faridabad – 121 001, Haryana, India |
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Tel. No.: |
91-129-2423791/2412311/2412736 |
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Fax No.: |
91-129-2412136/2428158 |
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E-Mail : |
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Area : |
Owned Land : 8500 sq. meters Building : 4550 sq. meters |
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Location : |
Industrial |
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Factory : |
Unit
II
· Plot No. 94, Sector 25, Faridabad - 121004, Haryana, India Tel.No : 91-129-5062744/5062741/5062742/2441027 Fax No : 91-129-2441028 Email : iail2@vsnl.net Area : Land- 7040 sq. meters, Building – 3070 sq. meters Unit
III
· Plot No. 32, Sector 27, Faridabad - 121003, Haryana, India Tel. No: 91-129-2273692/2271792/2271146 Area : Land- 1485 sq. meters, Building – 800 sq. meters Location: Industrial Unit
IV
· Plot No. 83, Sector 25, Faridabad - 121004, Haryana, India Tel. No. 91-129-2231148/2232993/5062744 Fax No. 91-129-2441028 Area : Land- 8780 sq. meters, Building – 4650 meters Location: Industrial |
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Detroit Warehouse : |
· 18840 Kelly Ct. Clinton Township ML 48035, USA Tel. No.: +1 586 415 0297 Fax No.: +1 586 415 6231 E-Mail : shawncox734@cs.com
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Warehouse : |
Located at
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DIRECTORS
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Name : |
Mr. Jagjit singh |
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Designation : |
Chairman-cum-Managing Director |
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Address : |
9, Sector 16-A, Faridabad – 121 003, Haryana, India |
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Date of Birth/Age : |
15.09.1938 |
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Date of Appointment : |
01.04.2005 |
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Name : |
Mr. Shyam Bihari Sardana |
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Designation : |
Managing director |
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Address : |
D-99, Panchsheel Enclave, New Delhi – 110 016, India |
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Date of Birth/Age : |
21.03.1944 |
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Date of Appointment : |
01.04.2005 |
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Name : |
Mr. R. N. Malik |
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Designation : |
Director |
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Address : |
House No 15, Sector 16 A Faridabad, Haryana |
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Date of Birth/Age : |
20.09.1937 |
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Date of Appointment : |
28.09.1998 |
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Name : |
Mr. M. K. Valecha |
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Designation : |
Director |
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Address : |
S-234 Greater Kailash, New Delhi |
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Date of Birth/Age : |
24.10.1954 |
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Date of Appointment : |
28.09.1998 |
KEY EXECUTIVES
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Name : |
Mr. Manav Mittal |
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Designation : |
Company Secretary |
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Address : |
B-33 Friends Towers, Sector – 9, Rohini, Delhi |
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Date of Birth/Age : |
29.07.1975 |
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Date of Appointment : |
05.11.2001 |
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Name : |
Mr. Pankaj Kumar |
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Designation : |
Fianace Head |
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Name : |
Mr. Vikram Mehra |
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Designation : |
Secretary |
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Address : |
408, A Block, Rail Vihar, Sector – 45, Faridabad – 121 004, Haryana, India |
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Date of Birth/Age : |
24.01.1972 |
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Date of Appointment : |
06.05.2006 |
MAJOR SHAREHOLDERS
(As on 27.09.2005)
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Names
of Shareholders |
No. of Shares |
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Ms. Vishan Devi |
292020 |
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Mr. Sham Behari
Sardana |
6478820 |
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Mr. Jagjit Singh |
7041681 |
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Mr. Manjeet lamba |
722400 |
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Mr. Sham
Bihari Sardana |
638440 |
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Ms. Manav Sardana |
120870 |
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Ms. Shobha
sardana |
519300 |
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Mr. Tarun Lamba |
157008 |
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I. S. Jaggi, HUF |
42687 |
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P D Saradana HUF |
72300 |
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Tarun Lamba HUF |
42600 |
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Jagjit Singh HUF |
115374 |
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Total |
16243500 |
Equity share breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Motor Vehicle Parts, Hydraulic Parts, IC Engine Parts and other Auto Parts |
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Products : |
· Hydraulic House · Fuel & Oil House · Bend Houses · Hydraulic House Assemblies · Nylon Tube Assemblies · Moulded Branch Hose · Teflon House Assembly · Branch House Assembly · Brake Hose Assembly · Silicon Houses · Power Steering Hose Assemble · Fabricated Tubes · Fuel Injection Pipes · Strainer Pipes |
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Exports to : |
USA, UK, Italy, South Africa |
GENERAL
INFORMATION
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Suppliers : |
· Anand Engineering Works · Ansul Enterprises · Auto Tech Engineers · D K Enterprise · Dharma Engineering Works · Ganesh Automatics · J S Enterprise · M J Enterprise · Mamta Engineering Corporation · Marshall Casting Limited · Neha Engineering Works · Nidhi Engineering and fabricators · Preeti Industries · Rikki Plastic · V S Industries · Chawla Enterprises · S K Enterprises · Alpha Engineers · New Swan Enterprises · Hindustan Graphics · Raj Industries · Santokh Industries · Akash Auto Industries |
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Customers : |
· Boss Forklifts · Case Excavators · Caterpillar Engines · Cummins Engines · Daewoo Cars and Excavators · Dynapack · Fiat Uno Cars · General Motors · Honda Motorcycles · Hyundai Cars · Iveco Trucks · Jcb Loaders · John Deere Tractors · Komatsu Forklifts · Leyland Trucks · Massey Fergusson Tractors · Mazda Trucks · Mitsubishi Lancer Cars · New Holland Tractors · Nissan Trucks · Perkins Engines · Peugot Cars · Peugot Engines for Jeeps · Suzuki Cars |
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No. of Employees : |
Total: 900 (Manager:48, Engineers:107, C.Staff:86, Workers:659) |
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Bankers : |
·
Bank of
Baroda A-5, Nehru Ground, Faridabad – 121 001, Haryana, India Bank of India · Citi Bank NA, Jeevan Vihar – III, Sansad Marg, New Delhi – 110001, India · Standard Chartered Bank Credit Risk Control, Narain Manzil, 23 Barakhamba Road, New Delhi – 110 001, Delhi, India · ICICI Bank Limited |
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Banking Relations
: |
Satisfactory |
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Auditors : |
· J L Malhotra & Company Chartered Accountants 48 Khan Market, New Delhi, India Tel. 91-11-2461 6820/2469 4549 Fax. 91-11-2460 28369 · Sunil Garg Chartered Accountants 48, Khan Market, New Delhi – 110 019, Delhi, India · Rakesh Raj and Associates Chartered Accountants B-565, Sector – 7, Faridabad – 121 006, Haryana, India |
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Associates : |
· IAI Industries Limited Chakan,
Pune, Maharashtra · Eagle Picher Imperial Auto Industries Limited Pune
(Now known as Imperial Auto Nylon Tubing’s Limited) ·
IAI Limited, Pune,
Maharashtra ·
IAI Limited, Lucknow, Uttar
Pradesh · IAI Limited, Jamshedpur, Bihar |
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Group Companies : |
· Imperial Auto Nylon Tubing Limited Line of Business :Manufacturers of Extruded Nylon Tubes, Automotive Nylon Tube Assemblies · IAI Industries Limited, Pune Line of business : Manufacturers of Brake / Fuel tubes – Fuel injection tubes, Sheet Metal components, Brake Shoes for two wheelers · IAI Limited – Ware Houses Pune – Lucknow – Jamshedpur · Overseas Warehousing Facilities ISO – Detroit, USA-HEL-London, U.K. · Solar Glass Works Private Limited · Imperial Auto Industries · Ideal Auto Industries · Inspi Auto Industries Private Limited · S J Industries · Good Well Industries · Santokh Industries |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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16243500 |
Equity Shares |
Rs.10/- each |
Rs. 162.435 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
162.435 |
162.435 |
162.435 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
551.096 |
325.202 |
161.838 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
713.531 |
487.637 |
324.273 |
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LOAN FUNDS |
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1] Secured Loans |
1009.202 |
485.282 |
373.578 |
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2] Unsecured Loans |
0.000 |
1.202 |
1.367 |
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TOTAL BORROWING |
1009.202 |
486.484 |
374.945 |
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DEFERRED TAX LIABILITIES |
16.474 |
11.096 |
9.073 |
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TOTAL |
1739.207 |
985.217 |
708.291 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
330.660 |
248.105 |
209.936 |
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Capital work-in-progress |
176.395 |
35.828 |
2.513 |
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INVESTMENT |
100.790 |
71.270 |
2.390 |
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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 |
366.243
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189.502
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164.460
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Sundry Debtors |
1081.534
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699.493
|
514.042
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Cash & Bank Balances |
125.606
|
39.523
|
53.405
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
365.581
|
187.532
|
144.506
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Total
Current Assets |
1938.964
|
1116.050
|
876.413
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
617.991
|
400.393
|
382.975
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Provisions |
191.685
|
88.408
|
0.000 |
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Total
Current Liabilities |
809.676
|
488.801
|
382.975 |
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Net Current Assets |
1129.288
|
627.249
|
493.438
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MISCELLANEOUS EXPENSES |
2.074 |
2.765 |
0.014 |
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TOTAL |
1739.207 |
985.217 |
708.291 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
3597.721 |
2654.473 |
2031.479 |
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Other Income |
105.318 |
6.032 |
9.779 |
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Total Income |
3703.039 |
2660.505 |
2041.258 |
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Profit/(Loss) Before Tax |
423.576 |
254.230 |
174.247 |
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Provision for Taxation |
134.123 |
90.431 |
64.724 |
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Profit/(Loss) After Tax |
289.453 |
163.799 |
109.523 |
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Earnings in Foreign Currency : |
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Sale of goods manufactured |
833.408 |
513.217 |
0.000 |
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Expenditures : |
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Raw Material Consumed |
2252.403 |
1707.115 |
1411.628 |
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Consumption of stores and spares parts |
122.504 |
60.669 |
0.000 |
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Increase/(Decrease) in Finished Goods |
(27.499) |
(8.985) |
10.949 |
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Salaries, Wages, Bonus, etc. |
97.525 |
73.935 |
35.981 |
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Managerial Remuneration |
20.000 |
15.000 |
14.400 |
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Payment to Auditors |
1.100 |
1.150 |
9.181 |
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Interest |
63.346 |
40.652 |
28.334 |
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Insurance Expenses |
6.541 |
4.222 |
2.885 |
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Power & Fuel |
55.492 |
32.020 |
23.687 |
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Depreciation & Amortization |
45.436 |
36.868 |
22.802 |
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Other Expenditure |
642.615 |
443.629 |
307.164 |
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Total Expenditure |
3279.463 |
2406.275 |
1867.011 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
7.82
|
6.16 |
5.37 |
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Net Profit Margin (PBT/Sales) |
(%) |
11.78
|
9.58 |
8.58 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
18.66
|
18.64 |
16.04 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.59
|
0.52 |
0.54 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.55
|
2.00 |
2.34 |
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Current Ratio (Current Asset/Current Liability) |
|
2.39
|
2.28 |
2.29 |
LOCAL AGENCY
FURTHER INFORMATION
History
Subject was incorporated on 22nd July, 1975 at New Delhi in India
having Company Registration Number 55-7737.
It was
established as a partnership concern and started assembling fuel hoses in a
small area (30 sq.mtrs.).
It was converted into public limited company with effect from 1st
April, 1998
Subject has invested with M/s
Imperial Auto Nylon Tubing Limited,
(Formerly known as Eagle Picher Imperial Auto Industries Limited)
Subject has 99.96% share holding in its subsidiary company “Imperial
Auto Nylon Tubing Limited”
It exports finished products.
It Imports raw materials, consumables and capital goods
The company is certified by ISO/TS 16949 :2002, ISO 14001.
Its major machinery and Equipments include:
·
RIGID
TUBES
GI Cnc Pipe Bending Machines
Flaring Machines
Induction Heating/ Brazing Equipment
Thread Rolling Machine
Power Presses Capacity
10t
Tig Welding Machines
Electroplating Line
Barrel For Electro
Planting
Rectifier
Intensifier
Oven For Drying
Centrifugal Dryer
Controlled Atmosphere Continuous
Brazing Furnace
Pneumatic Spm Bender
·
RUBBER TUBING & HOSES
Kneaders, Coldfeed Extruders
Mixing Mills, Vulcanising Lines
Braiders, Knitting Machines
Co-Extrusion Line
Transfer Molding
·
HOSE ASSEMBLY
Hose Cutting & Skiving, Ewald Teflon
Hose Cutter, Cnc Crimpers, Nut Crimpers
Air Hydro Pumps For Burst & Leakage Testing
Finn Power Crimpers
·
RUBBER & TESTING LABORATORY
Muffle Furnace For Rubber
Hot Air Circulation Oven Upto 300 Deg.C
Cold Flexibility Testing Equipment (-70 Deg.C)
Hyd. Brake Hose Assembly. Testing (Is 7079)
Tensile Testing Machine
Votumetric Expansion Testing Equipment
Whip Testing Equipment
Rheometer
Ageing Machine
Vibration Testing Rig
Ozone Testing M/C
Rheometer Ageing Machine
Salt Spray Chamber
Magnaflux Crack Detector
Profile Projector
Millipore Test Apparatus For Wt &
Particle Size Measurement
Surface Finish Tester
Form No. 8
|
Corporate
identity number of the company |
U74899DL1975PLCO07737 |
|
Name of the
company |
IMPERIAL AUTO INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
202, Kaushal Bazar, 32-33 Nehru Place, New Delhi – 110019,
India |
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This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Others |
|
Particular of
charge holder |
Bank of Baroda A-5, Nehru
Ground, Faridabad – 121 001, Haryana, India |
|
Nature of
instrument creating charge |
Memorandum of Deposit
of title Deeds dated 25.05.2007 for property No. 13/6, Mathura Road,
Faridabad |
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Date of
instrument Creating the charge |
25.05.2007 |
|
Amount secured by
the charge |
Rs.80.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
Interest Rate of Interest as applicable from time to time ·
Terms of
repayment On demand ·
Margin The company shall maintain such margin as may be specified by the Bank
from time to time. ·
Extent and operation
of the charge Pari Passu charge to secure credit limits for Rs.80.000 millions |
|
Particulars of
the property charged |
Plot No. 13/6,
Mathura Road, Faridabad (Details as per Memorandum of Entry) |
|
Particulars of
the present modification |
Pari Passu charge of property bearing No. 13/6, Marhura Road, Faridabad in favour of other lenders namely Bank of India upto limit of Rupees Eighty Millions Only, Citi Bank N.A. upto limit of Rupees Four Sixty Millions Only, Standard Chartered Bank upto limit of Rupees Three Hundred Millions and HSBC upto Rupees Three Hundred Millions |
The company's
fixed assets of important value include telephones, fax machine, computers,
Xerox machine, furniture, etc
Profile :
Founded in 1969, company today is a pioneer
manufacturer and exporter in automotive tubing sector. Employing about 900
qualified People, it has manufacturing operations in 5 different plants in
India & warehouses in Detroit and London. In 1990 IAI became Supplier
to the most OES like New Holland, Suzuki, DCM Toyota, JCB, Mahindra
Nissan and other main players of the industry.
With an ambition to become a globally
recognized and financially strong company, Subject sustains an
undisputed leadership in the Indian market. subject
is well established strong company and has heavily invested in several
auto-parts plants in important automotive fields, each plant's
facilities meet international standards to assure the quality of
the product at international level.
The company policy is to ensure value for money
to the customer, by providing products, which meet customer's
requirement.
Subject strives to achieve consistent
improvement in quality through process control, adherence to
quality system and safe and clean working environment.
QS-9000 Certified in the year 2000 , ISO-14001
awarded in 2003 and TS-16949 certified in 2004 IAI has become the
ultimate choice of the global market in the automotive sector.
Customers
where IAI enjoys Self-Certification
MARUTI
UDYOG LIMITED
TELCO
KIRLOSKAR OIL ENGINES LIMITED
ESCORTS LIMITED
EICHER TRACTORS LIMITED
HINDUSTAN MOTORS
TAFE (EICHER)
Companies
Philosophy
·
Ensure
value for money to the customers.
·
Make products which meet / exceed customer expectations.
·
Treat work force as members of a big family.
·
Run all business groups operations profitably.
Main
Business Groups
·
Automotive Steel Tubings
·
Brake Tubes
·
Fuel Tubes
·
Fuel Injection Tubes
·
Over Flow Lines
·
Fabricated Tube Assemblies
·
Cross Members
·
Flexible Hoses
·
Fuel Hose Assemblies
·
Radiator Hoses
·
Brake Hose Assemblies
·
Hyd. High Pressure Hose Assemblies
·
Vacuum & Heating Hose Assemblies
·
Air Starting System Hoses
·
Automotive Fuel System
·
Related Components and Sub- Assemblies
·
Hyd. Circuits or Industrial Equipment and Railway
·
Traction Locomotives
Milestones
1969
Established as a partnership firm and started assembling full hoses in
a small area (30 sq. mtr).
1970
Supplies to Mahindra & Mahindra Limited
Commenced as O.E.
1971
Supplies to Kirloskar Oil Engines Limited
Started as O.E.
1972
Supplies to Telco as O.E.
Supplies to Escorts as O.E.
1978
Rubber processing facilities for manufacture of rubber hoses.
1979
Established facilities for manufacture of fuel injection pipes.
1982
Manufacturing of F.I. pipes started in bulk.
1984
Supplies of brake tubes & fuel lines to Maruti Udyog Limited
started.
1985
Numerically controlled bending machines installed for bending larger
diameter pipes
1989
Collaboration with Meiji Rubber for brake hoses
Supply of fuel injection tubes for Railway Traction Locomotives
1990
Caterpillar fuel injection tube development started.
1992
Commenced manufacture of high pressure hose
assemblies at new unit at plot 94, sector-25, faridabad.
ISI certification obtained for brake hoses
1995
Started activities for ISO 90002 accreditation
Adopted Cummins supplier improvement programme.
1996
Supplies to Tata Cummins commenced
Improved facilities for radiator/bend hoses installed.
New plant for fuel injection pipes at sector 27-c, completed.
New plant at plot no. 83, sector-25, started.
1997
ISO 9002 accreditation.
Self certification for auto Malt Telco, Pune
Technical collaboration with Gates, USA.
1998
Imperial auto industries becomes public limited
Production started at pune plant
Joint venture with Eagle Picher Fluid Systems Limited U.K
Started activities for QS-9000.
1998
Imperial auto industries becomes public limited
Production started at pune plant
Joint venture with Eagle Picher Fluid Systems Limited U.K
Started activities for QS-9000.
1999
Target exports to developed countries
2000
QS-9000 accreditation for all plants (Plant-I,II,III,IV).
Global supplier to JCB, John-Deree & Cummins
2003
Certificate awarded ISO-14001
2004
Certification TS-16949
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.42.30 |
|
UK Pound |
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.66.42 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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/normal. |
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 |
|