%20PRIVATE%20LIMITED%2001-Mar-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
01.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRECISION EQUIPMENT (CHENNAI) PRIVATE LIMITED |
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Registered Office : |
No. 26, Mount
Poonamallee Road, Nandambakkam, Chennai 600089, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.06.1998 |
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Com. Reg. No.: |
18-40651 |
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CIN No.: [Company
Identification No.] |
U29309TN1998PTC040651 |
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IEC No.: |
0494030852 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEP02096D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of
Precision Equipment |
RATING &
COMMENTS
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MIRAs 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 282388 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed 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 : |
No. 26, Mount
Poonamallee Road, Nandambakkam, Chennai 600089, Tamilnadu, India |
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Tel. No.: |
91-44-22325138 /
22325566 / 24961916 / 1460 / 2855 / 2866 |
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Mobile |
91-9840096858 /
9841090117 |
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Fax No.: |
91-44-22329129 /
24960411 |
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Email : |
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Website : |
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Area : |
372 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
130, Industrial Estate,
Perungudi, Chennai 600096, Tamilnadu, India |
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Tel. No.: |
91-44-24961916 /
24961460 / 22325138 / 5566 |
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Mobile No. : |
91-9841096660 |
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Fax No.: |
91-44-24960411/22329129 |
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Email : |
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Website : |
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Area : |
50000 sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. K
Balasubramanian |
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Designation : |
Director |
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Address : |
1/53 I, 2nd
Street, Sripuram Colony, St. Thomas Mount, Chennai 600016 |
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Date of Birth/Age : |
56 Years |
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Qualification : |
BE (Mech) |
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Experience : |
38 Years |
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Name : |
Mr. Panapalayam
Kandasamy Easwaramurthy |
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Designation : |
Managing Director
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Address : |
Old No.: 47/2B,
New: 101, Flat-2B, 1st Main Road, Gandhi Nagar, Adyar, Chennai
600020 |
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Date of Birth/Age : |
29.06.1959 |
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Qualification : |
B. Sc. PGDBM |
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Experience : |
26 Years |
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Date of Appointment : |
11.06.1998 |
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Name : |
Mr.
Balasubramanian Padma |
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Designation : |
Director |
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Address : |
1/53 I, 2nd
Street, Sripuram Colony, St. Thomas Mount, Chennai 600016 |
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Date of Birth/Age : |
02.06.1957 |
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Qualification : |
M. S. |
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Date of Appointment : |
11.06.1998 |
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Name : |
Mr. Kandasamy
Periasmay |
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Designation : |
Director |
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Address : |
No. 18, Sri Sai
Nagar, Thoraipakkam, Chennai 600096 |
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Date of Birth/Age : |
07.02.1960 |
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Qualification : |
M. Tech. MIIchE,
MIE |
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Experience : |
23 Years |
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Date of Appointment : |
11.06.1998 |
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Name : |
Mr.
Balasubramanian Prabhu |
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Designation : |
Director |
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Address : |
No.6, Swamy Colony,
Nandambakkam, Chengalpattu 89 |
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Date of Birth/Age : |
08.10.1974 |
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Date of Appointment : |
16.06.1999 |
KEY EXECUTIVES
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Name : |
Mr. G Ramakrishnan |
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Designation : |
Company Secretary |
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Address : |
New No.5, Old No. 12, Sivasailam Street, T Nagar, Chennai 600017 |
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Tel No.: |
91-44-42166988/ 43502997 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. P K
Easwaramurthy |
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754000 |
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Mr. B Padma |
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320000 |
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Mr. K Periasmay |
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126000 |
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Mr. K
Balasubramanian |
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135000 |
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Mr. E. Vasanthamani |
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55000 |
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Mr. P Tamileselvi |
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5000 |
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Mr. B Prabhu |
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20000 |
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Mr. K Kulandaisamy |
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14200 |
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Mr. R K Sugamar |
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17000 |
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Mr. S Lalitha |
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10000 |
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Mr. S Sivaramkrishna |
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5000 |
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Mr. Eashwari Palaniappan |
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50 |
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Mr. D Chellamal |
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50 |
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Mr. S Poongodi |
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50 |
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Mr. Cauvery |
|
50 |
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Mr. P Senthil Kumar |
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50 |
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Mr. K Venkateshan |
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50 |
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Mr. T Kamaraj |
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50 |
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Rainbow Metals India |
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50 |
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Mrs. Lakshmi Narayan Balaji |
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50 |
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Mr. S. Manonmani |
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50 |
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Mr. V Vatsala |
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50 |
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Mr. P P Krishnan |
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50 |
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Mr. K Nagamal |
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50 |
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Mr. K S Selvaraj |
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50 |
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Mr. K Subramani |
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50 |
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Mr. S. Ponnammal |
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50 |
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Mr. P P Kandasamy |
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50 |
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Mr. P P Kandammal |
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50 |
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Mr. K Chinasmy |
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50 |
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Mr. C. Muthalakshmi |
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50 |
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Total |
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1462200 |
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Category |
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Percentage |
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Directors or relatives of directors |
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99.97 |
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Other top fifty (50) shareholders (other than listed above) |
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0.03 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Precision Equipment |
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Products : |
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Exports : |
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Products : |
Process
Equipments |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
188 |
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Bankers : |
Commercial
Branch, Guindy, Chennai 600032
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Facilities : |
Rs. 77.500
millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K. V. Ranganathan
and Company Chartered
Accountants |
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Address : |
Room 113, kamaraj
Bhavan, Old # 574, New # 500, Anna Salai, Chennai - 600006 |
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Tel. No.: |
91-44-24349914 |
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Fax No.: |
91-44-24349914 |
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Associates/Subsidiaries : |
No. 25, Mount Poonamallee
Road, Nandambakkam, Chennai 600089, Tamilnadu, India Machining
Services
DRR Avenue, AUDOC
Nagar, Kattupakkam, Poonamallee, Chennai 600096, Tamilnadu, India Fabrication |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs. 10/- Each |
Rs.30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2350000 |
Equity Shares |
Rs. 10/- Each |
Rs.23.500
Millions |
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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 |
23.500 |
17.022 |
14.622 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
47.097 |
25.423 |
12.003 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
70.597 |
42.445 |
26.625 |
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LOAN FUNDS |
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1] Secured Loans |
143.341 |
89.240 |
31.566 |
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2] Unsecured Loans |
0.048 |
0.576 |
2.073 |
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TOTAL BORROWING |
143.389 |
89.816 |
33.639 |
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DEFERRED TAX LIABILITIES |
0.585 |
0.705 |
0.728 |
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TOTAL |
214.571 |
132.966 |
60.992 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
60.579 |
48.515 |
22.347 |
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Capital work-in-progress |
46.084 |
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 |
98.811
|
76.941
|
16.597
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Sundry Debtors |
76.280
|
17.732
|
12.186
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Cash & Bank Balances |
32.548
|
19.201
|
7.389
|
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Other Current Assets |
8.058
|
4.388
|
1.336
|
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Loans & Advances |
21.435
|
13.979
|
11.495
|
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Total
Current Assets |
237.132
|
132.241 |
49.003
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
113.921
|
40.585
|
6.094
|
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Provisions |
15.303
|
7.205
|
4.264
|
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Total
Current Liabilities |
129.224
|
47.790 |
10.358
|
|
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Net Current Assets |
107.908
|
84.451 |
38.645
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
214.571 |
132.966 |
60.992 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
351.696 |
237.022 |
219.918 |
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Other Income |
11.859 |
9.324 |
0.000 |
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Total Income |
363.555 |
246.346 |
219.918 |
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Profit/(Loss) Before Tax |
27.829 |
15.613 |
9.149 |
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Provision for Taxation |
6.155 |
2.193 |
3.332 |
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Profit/(Loss) After Tax |
21.674 |
13.420 |
5.817 |
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Export Value |
16.297 |
1.124 |
3.381 |
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Import Value |
70.971 |
54.883 |
3.026 |
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Expenditures : |
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Depreciation & Amortization |
7.025 |
3.413 |
2.030 |
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Financial Charges |
16.264 |
10.357 |
0.000 |
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Other Expenditure |
312.437 |
216.963 |
208.739 |
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Total Expenditure |
335.726 |
230.733 |
210.769 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
5.96
|
5.45 |
2.64
|
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Net Profit Margin (PBT/Sales) |
(%) |
7.91
|
6.59 |
4.16
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.35
|
8.64 |
12.82
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Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.37 |
0.34
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Debt Equity Ratio (Total Liability/Networth) |
|
3.86
|
3.24 |
1.65
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Current Ratio (Current Asset/Current Liability) |
|
1.83
|
2.77 |
4.73
|
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate
identity number (CIN) Foreign company registration number |
U29309TN1998PTC040651 |
|
Name of the
Company |
PRECISION EQUIPMENT (CHENNAI) PRIVATE LIMITED |
|
Address |
No. 26, Mount
Poonamallee Road, Nandambakkam, Chennai 600089, Tamilnadu, India |
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This form is for |
Modification of
Charge |
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Type of Charge |
Immovable
Property |
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Particulars of
the charge holder |
State Bank of
India Commercial
Branch, Guindy, Chennai 600032, Tamilnadu, India |
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Nature or description
of the instrument(s) creating or modifying the charge |
No instrument
Creation of Equitable Mortgage by deposit of title deeds of the companys
immovable property, 2 Nos (Letter Attached) dated 24.04.2007 |
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Date of the
instrument creating or modifying the charge |
24.04.2007 |
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Amount secured by
the charge |
Rs.380.100
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: As per
Modification dated 06.12.2006 Terms of repayments: As per
Modification dated 06.12.2006 Margin: As per
Modification dated 06.12.2006 Extent and
operation of the charge: As per Agreement Others: CC
(Hypothecation): Rs.60.000 Millions EPC/FBDN (Sub
Limit): Rs.(2.500) Millions Term Loan I and II:
Rs.21.300 Millions Term Loan III and
IV: Rs.50.000 Millions L/C(WC):
Rs.27.500 Millions Adhoc (LC):
Rs.80.000 Millions BG(WC): Rs.70.000
Millions Adhoc (BG):
Rs.71.300 Millions Total :
Rs.380.100 Millions |
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Short particulars
of the property charged (including location of the property) |
Creation of
Equitable Mortgage by deposit of title deeds of the company immovable
property situated at: All the piece and parcel of land situated at P
Vadagapalayam Village, Pallam Taluk, Tirupra SRO, Land Measuring 5.92 acres
in S No. 407/1, 11.48 acres in 408/1, 0.56 acres in 408/3 totalling 17.96
acres and factory land and building situated at plot No.131 in developed
plots, industrial Estate, Perungudi, Chennai at R S No.104/2, Palavakkam Village,
Perungudi. |
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Particular of the
present modification |
Creation of
Equitable Mortgage by deposit of title deeds of the company immovable
property situated as per Colum No.14 as security to secure the present
overall Limit of Rs.380.100 Millions |
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Name of the company |
PRECISION
EQUIPMENT (CHENNAI) PRIVATE LIMITED |
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Presented By |
State Bank of India Commercial Branch, Guindy, Chennai
600032, India |
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1) Date and description of instrument creating the change |
15th
July 1998 General Agreement
for the grant of small Industrial Advances and Hypothecation of movables,
book debts and other assets (Working Capital Finance) Dated 15th
July 1998 No instrument,
Creation of Equitable Mortgage by deposit of title deeds. Both relate to
one and the same charge. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.13.500
Millions
Together with
Interests, Costs, Charges and all other expenses which may be debited to the
account from time to time. |
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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 |
Primary Security: All Present and
future goods viz, raw materials, semi finished goods and finished goods, book
debts, movable and other assets of the company, outstanding monies,
receivables, claims, bills, invoices, documents, contacts, engagements,
securities, investments and rights belonging to or in the possession or under
the control of the company wherever lying, stores and kept and whether in
possession of the company or of the Bank or of any third party whether in
India or elsewhere thought the world (including all such goods, movables and
other assets as may be in course of shipment, transit or delivery) stand
hypothecated to the Bank by way of first charges. Collateral Security: Creation of Equitable
Mortgage on the companys immovable properties viz., factory land and
building at Plot No.130, Developed Plot, Industrial Estate, Perungudi,
Chennai 600096 (44 cents land, building-RCC Proof ACC Sheds) and existing/
unencumbered machines (as per enclosed-valued at Rs.4.895 Millions w d v as
on 31.03.1998), as security for the due repayment of Rs.2.900 Millions by the
company to the Bank. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interests at the
of 1.75% over SBAR with a minimum of 14.75% p.a. plus interests tax of 0.36%
(effective rate 15.06%) Margin 25%, Cover
Period: 90 days |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India Guindy Branch,
Chennai 600032 Renamed as: State Bank of
India Commercial
Branch, Guindy, Chennai 600032 |
|||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
17th
October, 2005
All the above
were made on 17th October, 2005 and relate to one and the same
modification |
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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. |
Effect of Modification: The various
credit limit enjoyed by the company has now been enhanced from Rs.145.000
Millions to Rs.232.000 Millions ass Follows: (Rs. In Millions)
Terms and Conditions: One time adhoc
Letter of Credit
10% One time adhoc
Bank Guarantee 10% Securities :- Primary Security: All the company
present and future goods, book debts, movables and other assets including the
entire current assets, viz., Raw Materials, Stock in process, finished Goods,
Spares, Receivable Outstanding Monies, Claims, Bills, Invoices, documents
contracts, engagements, securities, investments and rights and all machinery. Documents of
Title to Goods/ Goods covered under LC and extension of charge on the entire
current assets of the company. Counter Guarantee
from the company and extension of charge on current assets. Collateral Security: Extension of
equitable Mortgage by deposit of title deeds of the company immovable
property viz., Land, Factory and
Building at Door No.130, Industrial Estate, Perungudi, Chennai 600096 RS
No. 140/2, Palavakkam Land Area 44 sent Building 7200 sq. ft. As Collateral
Security: All the above
securities were area hypothecated/ mortgaged with State Bank of India,
Commercial Branch, Guindy, Chennai by way of first charge and now they shall
continue to secure the present enhanced overall limit of Rs.232.000 Millions
together with interests, costs, charges and all other expenses which may be
to the said account from time to time All other terms
and conditions remain unchanged. |
List of Agent in Foreign
|
Name of the Company |
Contact Person |
Address |
Tel / Fax
|
Email |
|
D & D Technologies |
Mr. Dematte |
VIA Edison 13/1720012 S. Ilario, Nerlano (Milan), Italy |
0039/535857 0039/347/1670840 Fax No : 0039/0331/533553 Admin Fax :
0039/02/700593708 Factory 0039/046/019915 |
|
|
Gas Arbian Services |
Mr. M S Kumar |
P O Box 3422, Damman 31471, Saudi Aradia |
00966 3 8351500 Extn 310 00966 3 832282 |
|
|
Aida import Export |
Mr. S Khouzam |
Khouzam Building, IBN Mamaa Street, Elhamedie Avenue, Homs Syris |
00963 31 487041 Mobile : 00963 94 744667 Fax 00963 31 228568 |
|
|
Mousa A Bahman Est General Trading and Contacting |
Mr. Mujeebula Mukarram |
P O Box 24218, 13103, Safat, Kuwait |
0096 4819450-484955, 00965 4840862 4841864 00965-4810982 |
|
|
GSI Trading Limited, Korea |
Mr. C J Park |
RM 601, FL. Sam Sun Building 891-46, Deachi Dong, Kaugnam-Ku, Seoul, 135-280, Korea. |
82-2-553-2116/2117 Fax : 82-2-553-2118, 82-11-9060-1401 |
|
|
Petrogulf, Doha |
Mr. Pankaj Summanwar |
P O Box No. 9841, Doha, Qatar |
00974-4350151 Fax : 00974-4350140 |
|
|
Alwazan Trading |
Mr. Mahammed Nayeemuddin |
P O Box No. 3994, Abu Dhabi, United Arab Emirates |
00971-2-622-3400/00971-2-622-3200 Fax : 00971-2-622-3334, 00971-2-622-3335 |
|
|
Dafar Trading Agencies Company Limited |
Mr. Nabeeh Nadeem |
P O Box No. 3004, Elwia, Naghdad Iraq |
00964-1-7186425 00964-1-7174142 00964-1-7186425 00964-1-7174142 |
|
|
Bhawan Engineering Company LLC |
Mr. P P Koppikar |
P O Box No. 703, Ruwi, Postal Code 117, Sultanate of Oman |
00968-597510 00968-597511 |
List of Agent in India
|
PSP International |
Ashok Jain |
1205, Ansal Tower, 38, Nehru Place New Delhi 110019 |
91-11-36985993 011-51621069 093132-85993 |
|
|
B.V.S. Prakash Vizag |
Prakash B V S |
45-57-47/6, Narashima Nagar, Vizag 530024 |
0891-799804 0891-799804 098480-49918 |
- |
|
Krubha Consultant, Trichy |
Bhaskaran |
M 58, Anna Nagar Phase III, Trichy 620026 |
0431-581070 0431-581070 9842458107 |
- |
|
S and K Associates, Kochi |
Jacob |
House No : 11/103, LFC Road, Kaloor |
0484-530847 0484-530847 9895205576 |
|
|
Anoop Kumar Srivastava |
Anoop Kumar |
E 217, Riddhi Siddhi Society, Near Pawandham, Subhanpura, Vadodara 390023 |
0265-2396420 0265 0 2292165 9376223822 |
|
|
Arasu Associates, Neyveli |
Mutharasu |
C-17/1, Masuthi, Salai, Vattam 12, Neyveli |
954142 280111 954142-25344 |
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 Intl
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 companys 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.39.92 |
|
UK Pound |
1 |
Rs.79.31 |
|
Euro |
1 |
Rs.60.63 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
This score serves as a reference to assess SCs 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 |
|