MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
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Registered Office : |
80/85 Om Laxmi Niwas, 1st Floor, Prabhat Road, Erdwane,
Pune – 411004, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
18.03.2005 |
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Com. Reg. No.: |
20432 |
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CIN No.: [Company
Identification No.] |
U28920PN2005PTC020432 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEJ05533D |
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PAN No.: [Permanent
Account No.] |
AABCJ5421E / AABCJ4557H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Paints and Coatings |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company in its field. Directors are reported
as experienced, respectable and having satisfactory means of their own. Trade
relations are fair. Business is active. Payments are reported as usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Pradeep Vasant Joshi |
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Designation : |
Director |
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Contact No.: |
91-9822053789 |
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Date : |
16.06.2008 |
LOCATIONS
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Registered Office : |
80/85 Om Laxmi Niwas, 1st Floor, Prabhat Road, Erdwane,
Pune – 411004, Maharashtra, India |
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Tel. No.: |
91-20-25665105 / 25665106 / 07 |
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Mobile No.: |
91-9822053789 [Pradeep Joshi] / 9822509408 [Shipla Joshi] |
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Fax No.: |
91-20-25665105 / 06 / 07 |
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E-Mail : |
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Area : |
Rented |
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Factory : |
Sr. No. 14, Mahtma Hyotiba Phyle Marg, Dhadge Industrial Estate,
Nanded, Pune – 411041 |
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Tel. No.: |
91-20-20240209 |
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Area : |
Rented |
DIRECTORS
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Name : |
Mrs. Shilpa Pradeep Joshi |
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Designation : |
Chairperson cum Director |
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Address : |
Flat No. 204, Amit Anand, 1178, Shivajinagar, Pune – 411005,
Maharashtra, India |
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Date of Birth/Age : |
09.05.1970 |
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Qualification : |
BSc, Interior Designer |
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Experience : |
15 Years |
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Date of Appointment : |
18.03.2005 |
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Name : |
Mr. Pradeep Vasant Joshi |
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Designation : |
Managing Director |
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Address : |
Flat No. 204, Amit Anand, 1178, Shivajinagar, Pune – 411005,
Maharashtra, India |
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Date of Birth/Age : |
14.03.1965 |
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Qualification : |
B. Com. |
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Experience : |
20 Years |
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Date of Appointment : |
18.03.2005 |
KEY EXECUTIVE
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Name : |
Mrs. Shilpa Pradeep Joshi |
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Designation : |
Technical Head [Interiors / JCPL] |
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Name : |
Mr. Pradeep Vasant Joshi |
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Designation : |
Admin Head |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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Percentage of
Holding |
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Mr. Pradeep Vasant Joshi |
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50 % |
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Mrs. Shilpa Pradeep Joshi |
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50 % |
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Total |
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100
% |
Equity Share Breakup
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Paints and Coatings |
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Terms : |
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Selling : |
Credit [60 days] |
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Purchasing : |
Cash |
PRODUCTION STATUS
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Particulars |
Installed
Capacity |
Actual Production |
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2007-08 |
2008-09 |
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Buildfast Ecorender Jotex – Exoticrenders |
3500 MTs per anum |
25 % |
35 % |
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Particulars |
Unit |
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Actual
Production |
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Polycryl |
In Ltrs |
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14250 |
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Acrystrech |
In Ltrs |
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1120 |
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Exterol |
In Ltrs |
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920 |
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Primex |
In Ltrs |
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4920 |
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Basico |
In Ltrs |
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580 |
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Freelancer |
In Kgs |
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18750 |
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Texture Plastners |
In Kgs |
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3100 |
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Fairwall |
In Kgs |
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3350 |
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Magicoat |
In Kgs |
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6400 |
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Stone Majik |
In Kgs |
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14425 |
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Eco Plaster |
In Kgs |
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165350 |
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Build Fast |
In Kgs |
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92125 |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
Construction Industry |
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No. of Employees : |
30 [In Office : 4 and In Factory : 16] |
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Bankers : |
Union Bank of India S.S.I. Branch, F. C. Road, Pune – 411005, Maharashtra, India |
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Facilities : |
Term loan RS. 0.500 Million and
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Abhijeet Khade and Associates Chartered Accountants |
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Address : |
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Tel. No.: |
91-20-66201693 |
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E-Mail : |
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Associates/Subsidiaries : |
Joshi
Technocoatings Private Limited Address : 80/85, “OM” Laxmi Niwas, 1st Floor, Prabhat Road,
Erandwane, Pune – 411004 Activities : Trading and Distribution Shilipa and
Pradedp Joshi Interior Designers and Consultants Address : 80/85, “OM” Laxmi Niwas, 1st Floor, Prabhat Road,
Erandwane, Pune – 411004 Activities : Interior Designers and Consultants |
CAPITAL STRUCTURE
AS ON 30.03.2008
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
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90000 |
Preference Shares |
Rs. 10/- each |
Rs. 0.900 Million |
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Total |
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Rs. 1.000
Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
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50000 |
Preference Shares |
Rs. 10/- each |
Rs. 0.500 Million |
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Total |
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Rs. 0.600
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.600 |
0.600 |
0.600 |
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2] Share Application Money |
0.250 |
0.250 |
0.000 |
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3] Reserves & Surplus |
0.442 |
0.155 |
0.030 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.292 |
1.005 |
0.630 |
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LOAN FUNDS |
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1] Secured Loans |
2.541 |
2.845 |
1.293 |
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2] Unsecured Loans |
0.300 |
0.300 |
0.000 |
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TOTAL BORROWING |
2.841 |
3.145 |
1.293 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4.133 |
4.150 |
1.923 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.377 |
1.035 |
0.548 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
1.775
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1.116 |
0.665 |
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Sundry Debtors |
3.095
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2.699 |
0.850 |
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Cash & Bank Balances |
0.204
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0.162 |
0.143 |
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Other Current Assets |
0.215
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0.216 |
0.075 |
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Loans & Advances |
0.154
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0.049 |
0.000 |
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Total
Current Assets |
5.443
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4.242 |
1.733 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2.078
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0.642 |
0.352 |
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Provisions |
0.837
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0.773 |
0.164 |
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Total
Current Liabilities |
2.915
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1.415 |
0.516 |
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Net Current Assets |
2.528
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2.827 |
1.217 |
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MISCELLANEOUS EXPENSES |
0.228 |
0.288 |
0.158 |
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TOTAL |
4.133 |
4.150 |
1.923 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
10.079 |
7.933 |
1.708 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
10.079 |
7.933 |
1.708 |
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Profit/(Loss) Before Tax |
0.453 |
0.210 |
0.029 |
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Provision for Taxation |
0.167 |
0.085 |
0.001 |
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Profit/(Loss) After Tax |
0.287 |
0.125 |
0.030 |
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Expenditures : |
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Purchase |
6.223 |
5.249 |
1.405 |
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Direct Expenses |
1.841 |
0.732 |
0.132 |
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Indirect Expenses |
1.989 |
1.961 |
0.728 |
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Depreciation |
0.219 |
0.231 |
0.059 |
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Other Expenditure |
0.012 |
0.000 |
0.020 |
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Increase / [Decrease] in Stock |
[0.658] |
[0.451] |
[0.665] |
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Total Expenditure |
9.626 |
7.722 |
1.679 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
2.85
|
1.58 |
1.76 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.49
|
2.65 |
1.70 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.64
|
3.98 |
1.27 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.21 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.46
|
4.53 |
2.87 |
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Current Ratio (Current Asset/Current Liability) |
|
1.87
|
3.00 |
3.36 |
LOCAL AGENCY
FURTHER INFORMATION
Registered office
of the company has been shifted from Office No. 67-68 3rd Floor,
Shrinath Plaza, Dnyaneshwar, Raduka Chowk F C Road, Pune – 411005, Maharashtra,
India to the present address w.e.f. 02.04.2007
Trade Reference
- M. B. Chitale Construction Company
- Elite Erectors
- Unity Infra Products Limited
Bankers Charges
Report as per Registry
|
Name of the company |
JOSHI COATINGS
PRIVATE LIMITED |
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Presented By |
JOSHI COATINGS
PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Composite
Hypothecation Deed Date : 26th
August, 2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.500
Millions Term Loan as well
as Cash Credit Facilities |
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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 |
Hypothecation by
way of First Charge in favour emulsion, fillers, binders, acrylic, polymer,
coatings etc, stocks, raw materials, plant and machinery, fixture,
implements, fittings and other installations, furniture, vehicles, computers
and all other articles and things both present and future borrower’s godowns
situated at 134, Dalvi Wadi, Vadgaon Dhayai Pune – 411026 Borrower’s
present and future book debts, outstanding, monies, receivables, claims, contracts,
securities, investments, rights, and assets |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
: For cash Credit : BPLR + 2 % minimum 12.75 % per annum and for Term Loan
BPLR + 3 %, minimum 13.75 % per annum Margin Money :
2.5 % per annum |
|
5) Name and Address and description of the person entitled to the charge. |
Union Bank of India S.S.I. Branch, F. C. Road, Pune – 411005, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
Fixed Assets
- Computer and
Peripherals
- Furniture and
Fixture
- Plant and
Machinery
Background
Subject is in the field of coatings since
2005, when they established the company in the name of Joshi Coatings Private
Limited at Pune. The purpose of the company was to manufacture premium coatings
useful for various surfaces such as building materials, wood, metal etc,
Initially the company was engaged in producing products party known to the
field of construction. These products range from micro coatings @ 100 microns
thickness commonly known Paints, to 2 to 3mm thk coatings similar to texture
coatings. Most of the coatings were innovative with similarities to existing
ones, mainly introduced to establish market. These products are introduced to
the market in the name JOTEX.
As intended the company has established its
own market and has succeeded in introducing the most innovative, products in
the next two years. With rigorous efforts, they have been successful in developing a world class
technology of eco friendly – brick laying adhesives and plasters, for which the
world patent is pending.
These products are based on natural mineral
fillers and polymers and are available as ready made pastes and do not need pre
and post curing, thus saving enormous quantity of water needed for construction
in conventional practices. With many more such technical and practical
advantages over the conventional materials they have successfully launched
these unique materials in the name BUILD FAST and ECO RENDER.
Subject is in the field of Interior designing
under their own name ‘Shilpa and Pradeed Joshi, Interior designers and
consultants’ since last 13 to 14 years and have several prestigious clients in
the commercial interiors. Some of their esteemed clients include ‘Axis Bank’
‘Indusind Bank’, ‘Bank of Maharashtra’, LML India Limited, Crane Process Flow
Technologies, M B Chitale Constructions, Madura Garments etc.
They have designed as well as executed most of
the works for the above clients, and take pride in excellent relations with the
clients due to their merits. Amongst them Mrs. Shilpa Joshi, is technical
authority with a team of 5/6 qualified designers technical supervisor,
technical supervisors, site coordinators etc, while Mr. Pradeep Joshi is the
incharge of Admin, Finance and business developments with a qualified staff of
5/6.
With all this sound establishment, they have
floated a company in the name of “Joshi Technologies Private Limited” for
trading the building construction products, which are absolutely essential for
any construction process. Initially the range of products were sourced from
different manufacturers, two from India, while one from a MNC called LAFARGE
which is from France, and is well known for building construction products all
around the world several years.
He indigenous products are made in Mumbai and
are used as base products for the plastered surfaces, which serve as a ready
base for the painting. The other products are surface coatings, which are used
as protective and decorative coatings all over the world as well as in India. All
these products are based on Acrylic Polymers, which is being successfully used
all other world as a strong protective coating for walls.
The paint consumption in India is too low when
compared to its counterparts, as such the requirement for these coatings is in
tremendous in India which is predicted to be increasing significantly in the
next twenty years.
Hence they right introduced products
manufactured in India to fulil the increasing market needs by manufacturing the
specialty surface protection coatings in Pune under the name “Joshi Coatings
Private Limited”.
Products
Joshi Coatings manufacturer different types of
surface coatings for special purpose. Basically the walls / surface are exposed
to weathering, pollution, cracks etc which are responsible for the
deterioration of the walls which in turn affects the life of the construction
by damaging and structure. To minimize these problems, and to offer a complete
solution to the clients for the total protection of the walls by applying
protective castings.
Since last two years they have developed their
own technology and introduced, ECO Friendly, Brick and Block Laying \ adhesive in the name – Buildfast and
Plasters in the Name – ECORENDER.
Their major brands are thus – JOTEX – Pure
acrylic polymer coatings, Buildfast – the brick / block laying adhesive, ECO –
Render – the pre polymerized plasters,
JOTEX – All products under this brand are
basically meant to be pure acrylic polymer coatings for construction purpose
designed to give total wall protection.
Buildfast – It is a ready o use viscous paste
designed to be used as plaste drsigned to work as adhesive for bricks / blocks
used for the construction purpose.
ECO – RENDER – it is a ready to use viscous
paste designed to be used as plaster for ay wall.
All these products are ecofriendly – since
they are made from natural mineral fillers and wastes, polymers and use water
as a medium only. Thus these products consume optimum water, saves water, time,
labour, material handeling with other added technical benefits such as water
resistance, crack resistance, fungal resistant, fire and heat resistant as well
as user friendly.
Product Composition and Standardisation
The proposed product range of Joshi Coatings
Private Limited is based on formulation with a major content of the Pure
Acrylic Polymers. The entire product composition includes :
- Acrylic Polymer Emulsions
- Natural Mineral Fillers
- Additives
- Water
All the raw materials used are sources form
reknowned companies, like Rohm and Hass, K-Tech Specialty Chemicals etc, and
are approved on sample trials by the technical consultant. Each products is
subjected to various standard tests for quality, and all the products are duly
tested for the ISI standards for quality assurance in the market.
They also have their own set up of inhouse
laboratory for the essential testing of the products of ISI standards. The
products are made available under the brand name of JOTEX, Build Fast,
Ecorender and are available in 20 ltrs sealed containers and 25 kg bags as
applicable. The raw materials as well as
the ready products are eco friendly and not hazardous to the users and
makers.
The Production Process
The total production capacity is 13500 kg /
13.5 tonnes / day and 3560 tonnes / year.
The products are made in two steps – with
immediate conversion of intermediate products into final products. However it
is possible to store he intermediate products to a certain period upto @ 30
days in sealed conditions.
Team
To bring their concept to Total Surface
Production they have associated themselves with a senior technical consultant
Dr. A. J. Singh, who is a Paint technologist, and a Dr. of Environmental
Sciences.
Their in house incharge for the manufacturing
activity, quality control and technical activities is their promoter director
Mrs. Shilpa Joshi, who is a science graduate, with Dip-Interior Designing and
is the promoter and proprietor of their Interior section. She has been the
active specifier for similar products has full awareness of the market, trends,
its problems and the needed solutions.
Other promoter director Mr. Pradeep Joshi is
the experienced personnel of business development, and finance management. He
shall be looking after the entire business development as well as the finance
of the actively.
Market
The Indian market has become a most eligible
market for all the above range of products. Basically the consumption of
coatings/ person is very low in India as compared to other countries. As per
the Crisial rating published few months before this figure is almost 2 kg / per
person / per year compared to @ 15 kg / per person / per year in European and
other countries.
Moreover the various raw material
manufacturers are also expanding in India since the expected raise in the
demand for coatings is almost @ 20 times than the existing.
The current focus in India is on the cement
products and not on Acrylic Based Products as against outside India. However
the globalization has brought in shift of thought from using cement base paints
for decoration to using coatings for protection of surfaces.
Educating the clients is still essential but,
the process has commenced. As such use of Acrylics is now known to the market,
and is popular nowadays. This is making the process of spreading the products
is simplified.
Client Segments :
Project Market
Builders for various townships etc.
Hospitals
Hotels
Commercial Institutes
IT and BIOTECH Parks
Educational Institutes
Secondary Focus
Retails Market
Stockist
Dealers
Marketing Strategy
To access the above markets they need the
products introduction and acceptance by the teams involved in the construction
and supply.
As such they approach :
- Architects : through Indian Institute of Architects
- Interior Designers : through Indian Institute of Interior designers
- Builders : through Association of Builders and Promoters
- Engineers – Site engineers and Institute of Concrete
- Contractors – Civil Contractors
- Applicators – Painting Contractors
- Suppliers – Area distributors and dealers network
Since they are well acquainted in this field
as specifiers in respect of their other activity of commercial interiors for
long time, they have deep contacts in the markets which makes the process a
known process.
Marketing supports
To aquaint their products and their concepts
of total wall protection they intend to :
- Conduct seminars for Architects / Interior designers and builders.
- Seminars and training programmes for the site engineers, applicators
- Seminar for contractors
- Meets for suppliers
- Informative programmes by lectures from eminent persons in the filed
to educate the clients.
- Techno commercial supports to the dealers from company to help in
educating the clients.
- Articles in various publications to educate users as well as to
inform about products and their need to todays context.
Build Green Live Green by
Using Build Fast for construction and ECO Render for plastering
- Ecofreindly materials using mineral fillers and excellent binders
- Water saving – as no water is needed for curing
- Non shrinking – thus arresting cracks
- User friendly
- Long life
- Time and labour saving
Total wall protection by
Using JOTEX – internal and external coatings
- Pure Acrylic polymer based products
- Calibered raw materials
- Focus on various problems which cause the damages to the structure
and offering a solution on the root causes.
- Speciality products, suitable for different weathering conditions
like heavy rainfall, extreme dry areas, thermal insulation, crackles
facades, antipollution products etc.
- Base products like primers, base coats, to help in improving the
adhesion, and inturn offering more durable products.
Swot Analysis
Strengths
Geographical location: India is easily
accessible country from any part of the world. Maharashtra is the centally
located in India and has the commercial capital of the country i.e. Mumbai,
which is further easily accessible to almost all the world, is also located
extremely near to Pune. Pune too has very regular business activities which are
aggressive.
Infra structure : Well equipped office
centrally located in Pune on F.C. Road, Shivajinagar, which is easily
accessible, Qualified staff for administrative accounting and marketing work.
Qualified technical consultant, Director and staff for production activities.
Background : Being experienced Interior
Designers and consultants and turnkey project maker, they have been specifiers
as well as users of various products required for the buildings, of
residential, commercial, industrial as well as institutional nature. As such
they are also aware of the difficulties encountered by the users of the
premises and the builders and Architects who design and construct them. As such
they are in a better position to offer solutions to the problems. For ex;
Permanent and maintenance free materials are required by the Architects
specially for Multistoreyed buildings, commercial complex etc, which they are
able to offer.
Market and marketing policy
As mentioned above they are well aquainted
with various prestigious Architects as well as builders not only as designers
but also duet to their activity of trading of building construction products by
their other company – Joshi Technologies Private Limited
They have also studied the market, and
highlighted earlier the growing demand for the Polymer coatings in India due to
the tremendous advantages of Polymers coatings in India due to the tremendous
advantages of polymers. The Crisil rating has already published the very low
consumption of the paints and coatings in India per person per year compared to
the other countries. As such the predicted increase in the usage of the paints
and protective coatings is expected to the 20 times compared to the usage
today.
Products
- The choice of the products as per the market requirement
- The quality of the products is very high and they are targeting the
clients who require quality products
- The raw materials used are of approved quality and make. Some of the
raw materials are also imported which are available in Mumbai with the
authorized representative of the parent company
- The availability of raw materials is easy due to easy access to
Mumbai as well as Gujarat and Rejastan and some parts of south India.
However most of the raw materials are available in Mumbai as well as Pune.
- The concentrated efforts for the quality control, the standard
testing correct choice of raw materials for the maintenance of goodwill in
the market.
- All the products are ecofriendly.
Opportunities
- Growing awareness and need towards green building materials – for
reducing global warming effects.
- Need to save natural resources such as water.
- Alternative resources for saving natural non renewable resources.
- Increasing demand in the consumption of protective polymer coatings
- The Indian Government Policy of open market is inviting the
different MNC in different business sectors in India. This has promoted
the construction industry in India which is expected t be increasing along
with the increase in business of other sectors.
- Comparatively less competition of indigenous based products
- Increasing requirement of products to solve construction related
problems like cracks, time curtaining by fast setting, drying products,
easy application, one time application to avoid maintenance specially for
towers anticarbonation products for protection of structure, thermal
insulation products to reduce electrical consumtion
- Changing economy – which permits use of quality products.
- Changing mentality of the users to maintain the constructions.
- Competition amongst the builders and Architects to give special
gestures in their constructions to attract their clients as well as for
status.
Marketing Target
They are already in the market since 2005
December and have successfully competed several projects in Pune, Jaipur and
recently in Bangalore. Their products have been applied on several lacs sf. Ft.
area of walls in above said areas in various town ships and projects and is
showing growing demand in the near futures too.
Products Range
Build Fast : The Ready to use Eco friendly,
Self Curing, Birck / Block Laying Prepolymerised Adhesive plaster
Ecorender : The ready to use Eco Friendly,
self curing, prepolymrise plaster
Jotex – Roller finish / brush finish for
exterior and interior facades
Polycryl
Exteretch
Primex
Jotex – Exotic Renders – Trowel applicable and
sprayable coatings for interior and exterior facades
Polycryl
Extretch
Freelancer
Jotex – Exclusives
Majicoat – an all in one internal coating
Exterol – D – dirt pick up resistant clear
coat
Thermal coat – HRC – hear resistant coat
Resume of Dr. A. J. Singh
Objective : Spread the most important message of Environment Protection
all over the country specially among the young
General
Name : Mr. Amar Jit Singh
Postal Address : 9, Manish Complex, Patrick’s Town, Pune – 411013
Age : 59 Years
Educational
Graduation in Science Delhi University 1965
Graduation in Paints Technology Kanpur University 1968
Master’s degree in Paints Technology Bombay University 1973
Doctorate in Environment Science The Netherlands 1998
Working Experience
A total of thirty four year working experience
Twenty six in Philips Components Loni Pune –
Now known as Vishay Components India
Activities
- Paints and lacquers and Printing inks
- Development and manufacturing of paints, lacquers etc for
electronics, electrical plastics items of various kinds, domestic
appliances, lighting gears and industrial goods.
- Creating new finishes
- Finishing of various substrates and applications and applications techniques
- Problems solving in application field
- Standardizing of suitable products
- Writing products specifications
- Testing of paints, resins, pigments and additives and allied
Chemical used in paints
- Evaluation of metals, chemicals, paints and other allied chemicals
- Evaluation of finished products
- Soldering technology including soldering chemicals and fluxes
- Engineering Polymers – Testing, standardization
- Study of alternative technologies
- New products and materials
- Writing / Drafting MSDS for chemicals and related products
- Training and education in Environmental aspects
- Safe handling of materials
- Disposal, life class assessment
- Involvement in ISO 14001
- EMS activities as Plant Coordinator
Short training Courses Attended
- In-company management courses
- Finance for non finance persons
- Course in Laboratory recognition by NABL
- Exploring Advanced learning and teaching
- Design of Experiment
- Design of Experiments
- Environmental designing aspects
- Environmental Legislation
- ISO, QS and TS awareness programs
- EMS awareness and auditor program
- Presentation skills
Foreign assignment
- Presented a technical paper ‘Power Coatings’ at SME annual
convention at Ohio’87
- Presented paper on Soldering Life of Electronics at France’88
- Presented Designing the consumer durable goods at SME annual
conference during 1989 at Ohio
- Two weeks training at European Phillips laboratories
- One week training at Philips Brazil for chemical manufacturing
activities
- One week training for Hitech paints in Europe
- One month in finishing of small components in BCcomponents Roermond
Factory
Computer Literacy
Word, Ex-cel, Power Point, E-Mail, Lotus mail,
Internet etc.
Higher Education
The program of Ph. D. was finished while in
services of the company in year 1998
Subject was very relevant to modern age, the
Environment. The topic of study was “Looking for Green Pastures in the light
Engineering and electronic Industries”
The project was selected with the consultation
and guidance of Indian Institute of Environment, New Delhi.
Extra Curricular Activities
Educational – Teaching
Has been the Hon. Secretary for technical
house magazine in UDCT Bombay. Visiting professor to D. E. Society’s Technical
Institute in surface coating technology Nearly 27 years teaching various
subjects of interest and importance. And 17 year Examiner for Maharashtra State
Board of Technical Examinations Course – in – charge for Paint Technology in J.
R. Vocational Guidance and Training. Has been editor for the ‘Souvenirs’
published on the ‘Diamond Jubilee’ and other occasions of D E Society technical
Institute. Active Participation in two Workshops organized by Central Institute
of Road Transport Pune tgo design specification for State Transport Vehicles.
Examiner for M. Sc. Project work of
environmental science at Pune University visiting lecturer to Marathawad Mitra
Mandal College of Interior Decoration.
Seminars and lectures
Attended a number of technical seminars /
workshops in India and abroad
Presented over 36 papers at various occasions
and subjects
Presented two papers on Environmental programs
Organized various seminars and lectures in the
city
Invited by Indian Paints Association as
speaker for Seminar organized in Calcuta in the year 1998
Invited by Sadolin at Oman to impart one week
training in Decorative paints to their marketing and Internal staff.
Invited by Bajaj Auto and other companies for
a day program on paints and Painting
Membership to associations
Life Members of Paint and Coatings
Technologists Association, Kanpur
Life
Member of the colour Society at Mumbai
Chairman of Pune
Center of The Colour Society
Life Member of Institute of Engineers Pune
Centre
Life
Member of India Environmental Association
Life
Membership of Jan 15th Club
Special Tasks
Responsible for compete technology transfer in
field of paints manufacturing and application on small radial products on
automatic lines, from Europe to India
Established Industrial Environment Health and
Safety organization. Nominated as a Chartered Engineer by IE Kolkata.
Active committee IEA Member for organizing
various activities
Have been on the panel of BIS for
Thermoplastics
Organizing Compatibility
- Launched Pune Center of Colour Society in the year 1999
- Organized regular lectures in technical filed and Seminars
- Started a No. of Environmental Programs in the company and
residential society
- Managing committee member of India Environment Association
- Organized seminars at various occasions
- Member of organizing committee at various occasions
- Member of organizing committee at various event
- Chairman of Seminar committee on the CS international seminar in
January 2004
Counseling
Counseling Students and Presented three times
talks on Career after 12 for students and their parents organized by Institute
of Engineers Pune Chapter
Counceling small industrialists new
industrialists – to –be from time to time.
Consolations
Have been offering consultation to various
paint and resin manufacturers and engineering industries for last many years in
the filed of Project reports, developments, projects, testing manufacturing,
application establishments and testing of finished products etc.
PROJECT PROFILE [FINANCIAL]
|
Particulars |
Unit |
1st Year |
Vth year |
|
Estimated team Loan Requirement Takeover of TL with UBI Total Term Loan Required |
Rs in Millions |
0.900 0.500 1.400 |
0.000 |
|
Estimated W/C Requirements |
Rs in Millions |
3.000 |
3.000 |
|
Estimated Annual Turnover [Net] |
Rs in Millions |
18.940 |
38.995 |
|
Profit After Tax |
Rs in Millions |
0.925 |
2.672 |
|
ROCE - |
Radio |
0.56 |
0.53 |
|
Current Ratio [Excluding Term Loan Installments] Current Ratio [including Term Loan Installments] |
Ratio Radio |
1.32 1.21 |
2.19 1.94 |
|
DSCR |
Average Maximum Minimum |
0.588 1.355 0.329 |
|
|
Payback Period [Fresh TL] |
Moratorium Months Total |
0.300 5.400 5.700 |
|
|
Emploment Potential [Factory and office] |
Nos |
20.00 |
|
|
Expected period of implementation from the
date of sanction of loan |
Months |
2.00 |
|
PROJECTED SUMMARIZED BALANCE SHEET
Rs in Millions
|
Particulars |
31.03.2009 |
31.03.2010 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
LIABILITIES |
Projected |
||||
|
|
|
||||
|
Partner’s Share Capital |
0.850 |
0.850 |
0.850 |
0.850 |
0.850 |
|
Reserves and surplus |
1.367 |
2.201 |
3.385 |
4.898 |
6.460 |
|
Existing Term Loan |
0.368 |
0.168 |
0.000 |
0.000 |
0.000 |
|
Fresh Term Loan |
0.800 |
0.600 |
0.400 |
0.200 |
0.000 |
|
Bank borrowings for W C |
3.000 |
3.400 |
3.400 |
3.000 |
1.400 |
|
Unsecured Loans |
0.300 |
0.300 |
0.300 |
0.300 |
0.300 |
|
Other Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
6.685 |
7.519 |
8.335 |
9.248 |
9.010 |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
Gross Block |
3.085 |
3.085 |
3.085 |
3.085 |
3.085 |
|
Depreciation |
0.964 |
1.334 |
1.635 |
1.882 |
2.084 |
|
Net Block |
2.121 |
1.751 |
1.450 |
1.203 |
1.001 |
|
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Current Assets |
4.338 |
5.567 |
6.647 |
7.805 |
7.808 |
|
Cash and Bank Balance |
0.043 |
0.063 |
0.145 |
0.195 |
0.201 |
|
Preliminary and pre – Op Expenses |
0.183 |
0.138 |
0.093 |
0.045 |
0.000 |
|
|
6.685 |
7.519 |
8.335 |
9.248 |
9.010 |
DSCR ESTIMATES
Rs in Millions
|
Particulars |
31.03.2009 |
31.03.2010 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Projected |
||||
|
|
|
||||
|
Net Profit after tax |
0.925 |
1.389 |
1.850 |
2.290 |
2.672 |
|
Depreciation |
0.456 |
0.370 |
0.301 |
0.247 |
0.202 |
|
Interest on Existing Term Loan |
0.061 |
0.035 |
0.011 |
0.000 |
0.000 |
|
Interest on Fresh Term Loan |
0.111 |
0.091 |
0.065 |
0.039 |
0.013 |
|
|
|
|
|
|
|
|
Total [A] |
1.553 |
1.885 |
2.227 |
2.576 |
2.887 |
|
|
|
|
|
|
|
|
Interest on Existing Term Loan |
0.061 |
0.035 |
0.011 |
0.000 |
0.000 |
|
Interest on Fresh Term Loan |
0.111 |
0.091 |
0.065 |
0.039 |
0.013 |
|
Annual Repayment |
|
|
|
|
|
|
Existing Term Loan |
0.200 |
0.200 |
0.168 |
0.000 |
0.000 |
|
Fresh Term Loan |
0.100 |
0.200 |
0.200 |
0.200 |
0.200 |
|
|
|
|
|
|
|
|
Total [B] |
0.472 |
0.526 |
0.444 |
0.239 |
0.213 |
|
|
|
|
|
|
|
|
DSCR [A/B] |
0.329 |
0.358 |
0.502 |
1.078 |
1.355 |
|
Average DSCR |
5.88 |
|
|
|
|
BREAK EVEN POINT
Rs in Millions
|
Particulars |
Variation |
31.03.2009 |
31.03.2010 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
|
Projected |
||||
|
Sales |
A |
18.940 |
24.085 |
29.230 |
34.375 |
38.995 |
|
Variable Cost |
|
|
|
|
|
|
|
Raw Material |
100 % |
10.417 |
13.247 |
16.077 |
18.906 |
21.447 |
|
Consumable |
100 % |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Utilities |
60 % |
0.057 |
0.072 |
0.088 |
0.103 |
0.117 |
|
Direct Labour |
60 % |
0.909 |
1.156 |
1.403 |
1.650 |
1.872 |
|
Other Misc
Expenses |
100 % |
1.231 |
1.566 |
1.900 |
2.234 |
2.535 |
|
Selling and Administrative Expenses |
25 % |
0.805 |
1.024 |
1.242 |
1.461 |
1.657 |
|
Total variable Cost |
B |
13.419 |
17.065 |
20.710 |
24.354 |
27.628 |
|
Fixed Cost |
|
|
|
|
|
|
|
Utilities |
40 % |
0.038 |
0.048 |
0.058 |
0.069 |
0.078 |
|
Direct Labour |
40 % |
0.606 |
0.771 |
0.935 |
1.100 |
1.248 |
|
Repairs and Maintenance |
100 % |
0.100 |
0.150 |
0.200 |
0.250 |
0.300 |
|
Selling and Administrative Expenses |
75% |
2.415 |
3.071 |
3.727 |
4.383 |
4.972 |
|
Depreciation |
100 % |
0.456 |
0.370 |
0.301 |
0.247 |
0.202 |
|
Interest on WC |
100 % |
0.293 |
0.350 |
0.400 |
0.450 |
0.500 |
|
Interest on Term Loan |
100 % |
0.172 |
0.126 |
0.076 |
0.039 |
0.13 |
|
Total Fixed Cost |
C |
4.080 |
4.885 |
5.697 |
6.538 |
7.313 |
|
|
|
|
|
|
|
|
|
Total Cost |
D=B+C |
17.499 |
21.950 |
26.407 |
30.892 |
34.941 |
|
|
|
|
|
|
|
|
|
Profit Before Tax |
A-D |
1.441 |
2.135 |
2.823 |
3.483 |
4.054 |
|
|
|
|
|
|
|
|
|
Provision for Tax |
|
0.516 |
0.746 |
0.973 |
1.193 |
1.382 |
|
|
|
|
|
|
|
|
|
Profit after Tax |
|
0.925 |
1.389 |
1.850 |
2.290 |
2.672 |
|
|
|
|
|
|
|
|
|
BEP Sales |
|
13.997 |
16.760 |
19.545 |
22.427 |
25.087 |
|
Percentage to sales |
|
73.90 % |
69.59 % |
66.87 % |
65.25 % |
64.33 % |
|
Cash BEP sales |
|
12.432 |
15.491 |
18.513 |
21.580 |
24.394 |
|
Percentage to Sales |
|
65.64 % |
64.32 % |
63.33 % |
62.78 % |
62.56 % |
|
Profit as per CMA |
|
0.925 |
1.389 |
1.850 |
2.290 |
2.672 |
BALANCE SHEET – PROJECTED
|
Particulars |
31.03.2009 |
31.03.2010 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Projected |
||||
|
|
|
||||
|
Share Capital |
0.850 |
0.850 |
0.850 |
0.850 |
0.850 |
|
General Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Share Premium |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Subsidy |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
P & L A/c |
1.367 |
2.201 |
3.385 |
4.898 |
6.460 |
|
|
|
|
|
|
|
|
Existing Fresh Term Loan |
0.368 |
0.168 |
0.000 |
0.000 |
0.000 |
|
Fresh Term Loan |
0.800 |
0.600 |
0.400 |
0.200 |
0.000 |
|
Working Capital [Cash Credit] |
3.000 |
3.400 |
3.400 |
3.000 |
1.400 |
|
Vehicles Loans |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Unsecured Loans 1 |
0.300 |
0.300 |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
|
|
Total |
6.685 |
7.519 |
8.335 |
9.248 |
9.010 |
|
|
|
|
|
|
|
|
Fixed Assets |
|
|
|
|
|
|
Gross Block |
3.085 |
3.085 |
3.085 |
3.085 |
3.085 |
|
Depreciation |
0.964 |
1.334 |
1.635 |
1.882 |
2.084 |
|
|
2.121 |
1.751 |
1.450 |
1.203 |
1.001 |
|
|
|
|
|
|
|
|
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Current Assets : |
|
|
|
|
|
|
Stocks – Raw material [1.25 M] |
1.085 |
1.380 |
1.675 |
1.969 |
2.234 |
|
Stock – Stores |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Stock – WIP |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Stock – finished Goods [0.75 M] |
0.863 |
1.086 |
1.310 |
1.535 |
1.737 |
|
Debtors [2.00 M] |
3.362 |
4.275 |
5.188 |
6.102 |
6.922 |
|
Bank |
0.038 |
0.058 |
0.140 |
0.190 |
0.196 |
|
Cash |
0.050 |
0.050 |
0.050 |
0.050 |
0.050 |
|
Advance Income Tax [Net] |
0.172 |
0.323 |
0.321 |
0.394 |
0.461 |
|
Loan and Advance |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Advances |
0.240 |
0.324 |
0.416 |
0.513 |
0.622 |
|
|
|
|
|
|
|
|
|
5.765 |
7.451 |
9.055 |
10.708 |
12.177 |
|
|
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
|
Creditors for purchases [1 M] |
0.868 |
1.104 |
1.340 |
1.576 |
1.787 |
|
Advance from customers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Liabilities for Expenses |
0.075 |
0.100 |
0.125 |
0.150 |
0.175 |
|
Provision for Taxation [net] |
0.341 |
0.492 |
0.642 |
0.787 |
0.912 |
|
Statutory Liabilities |
0.100 |
0.125 |
0.156 |
0.195 |
0.244 |
|
Dividend Payable |
0.000 |
0.000 |
0.000 |
0.000 |
1.000 |
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.050 |
|
|
|
|
|
|
|
|
|
1.384 |
1.821 |
2.263 |
2.708 |
4.168 |
|
Net Current Assets |
4.381 |
5.630 |
6.792 |
8.000 |
8.009 |
|
Preliminary and Pre Operating Expenses |
0.183 |
0.138 |
0.093 |
0.045 |
0.000 |
|
Total |
6.685 |
7.519 |
8.335 |
9.248 |
9.010 |
PROJECTIONS OF PERFORMANCE,
PROFITABILITY AND REPAYMENT Rs in millions
|
Particulars |
31.03.2009 |
31.03.2010 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Projected |
||||
|
|
|
||||
|
Sales |
|
|
|
|
|
|
Domestic Sales |
20.171 |
25.650 |
31.130 |
36.609 |
41.529 |
|
Labour Charges |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deduct : Excise Duty |
1.231 |
1.565 |
1.900 |
2.234 |
2.534 |
|
|
|
|
|
|
|
|
Net Sales |
18.940 |
24.085 |
29.230 |
34.375 |
38.995 |
|
|
|
|
|
|
|
|
Cost of Production |
|
|
|
|
|
|
Raw Material Consumption |
|
|
|
|
|
|
Imported |
|
|
|
|
|
|
Indigenous |
10.417 |
13.247 |
16.077 |
18.906 |
21.447 |
|
Direct Labour |
1.515 |
1.927 |
2.338 |
2.750 |
3.120 |
|
Electricity
Charges |
0.095 |
0.120 |
0.146 |
0.172 |
0.195 |
|
Consumable stores |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Repairs and maintenance |
0.100 |
0.150 |
0.200 |
0.250 |
0.300 |
|
Other misc. expenses |
1.231 |
1.566 |
1.900 |
2.234 |
2.535 |
|
Depreciation |
0.456 |
0.370 |
0.301 |
0.247 |
0.202 |
|
|
|
|
|
|
|
|
Total [Cost of Production] |
13.814 |
17.380 |
20.962 |
24.559 |
27.799 |
|
Opening Stock |
|
|
|
|
|
|
Finished |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Semi Finished |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
13.814 |
17.380 |
20.962 |
24.559 |
27.799 |
|
|
|
|
|
|
|
|
Less : Closing Stock |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Finished Semi Finished |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Cost of sales |
13.814 |
17.380 |
20.962 |
24.559 |
27.799 |
|
|
|
|
|
|
|
|
Gross Profit |
5.126 |
6.705 |
8.268 |
9.816 |
11.196 |
|
|
|
|
|
|
|
|
Interest : |
|
|
|
|
|
|
On Existing Term Loan |
0.061 |
0.035 |
0.011 |
0.000 |
0.000 |
|
On Fresh Term Loan |
0.111 |
0.091 |
0.065 |
0.039 |
0.013 |
|
On Working Capital |
0.293 |
0.350 |
0.400 |
0.450 |
0.500 |
|
Total Interest |
0.465 |
0.476 |
0.476 |
0.489 |
0.513 |
|
Selling and Administrative Expenses |
3.220 |
4.094 |
4.969 |
5.844 |
6.629 |
|
Non – Operating Income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit before Taxation |
1.441 |
2.135 |
2.823 |
3.483 |
4.054 |
|
Provision for Taxes |
0.516 |
0.746 |
0.973 |
1.193 |
1.382 |
|
Net Profit |
0.925 |
1.389 |
1.850 |
2.290 |
2.672 |
|
Depreciation added back |
0.456 |
0.370 |
0.301 |
0.247 |
0.202 |
|
Net cash Accruals |
1.381 |
1.759 |
2.151 |
2.537 |
2.874 |
|
Repayment Obligations |
|
|
|
|
|
|
Existing Term Loan |
0.200 |
0.200 |
0.168 |
0.000 |
0.000 |
|
Fresh Term Loan |
0.100 |
0.200 |
0.200 |
0.200 |
0.200 |
|
Vehicle Loan |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Interest on Term Loans |
0.172 |
0.126 |
0.076 |
0.039 |
0.013 |
|
Debt Services Ratio |
3.29 |
3.58 |
5.02 |
10.78 |
13.55 |
|
BEP Sales |
13.997 |
16.760 |
19.545 |
22.427 |
25.087 |
|
Cash BEP Sales |
12.432 |
15.491 |
18.513 |
21.580 |
24.394 |
|
B/F Syrplus |
0.442 |
1.367 |
2.201 |
3.385 |
4.898 |
|
Transferfrom reserves |
0 |
0 |
0 |
0 |
0 |
|
Available for appropriation |
1.367 |
2.756 |
4.051 |
5.675 |
7.570 |
|
Appropriation |
|
|
|
|
|
|
Drawings |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Dividend |
0.000 |
0.500 |
0.600 |
0.700 |
1.000 |
|
Dividend Tax |
0.000 |
0.055 |
0.066 |
0.077 |
0.110 |
|
Balance [C/F] |
1.367 |
2.201 |
3.385 |
4.898 |
6.460 |
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.42.90 |
|
UK Pound |
1 |
Rs.83.76 |
|
Euro |
1 |
Rs.65.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|