MIRA
INFORM REPORT
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Report Date : |
03.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
EROS METAL WORKS PRIVATE LIMITED |
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Registered Office : |
Jhansi Rani Square, Sitabulde, Nagpur – 440 001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.02.1976 |
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Com. Reg. No.: |
11-18808 |
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CIN No.: [Company
Identification No.] |
U99999MH1976PTC018808 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NGPE00197B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Diverse Range of Products such as Tractor
Trailer, Agriculture Implements, Garbage Handling Products – Solid Waste
Management Products, Sheet Metal Tubular and Fabricated Components including
Galvanisation. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 66000 |
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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 well established and reputed company having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually made as per commitments. The company can be considered good for normal business dealings. Mr. Dhanija declined to part with any details despite several
follow-ups. |
LOCATIONS
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Registered Office : |
Jhansi Rani Square, Sitabulde, Nagpur – 440 001, Maharashtra, India |
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Tel. No. : |
91-712-2522055 |
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Fax No. : |
91-712-2522055 |
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E-Mail : |
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Website : |
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Corporate Office : |
Ghat Road, Nagpur - 440 018, Maharashtra, India |
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Tel. No.: |
91-712 2728182 / 2773943 |
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Fax No.: |
91-712 2774740 |
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E-Mail : |
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Contact Person : |
Mr. Atul K. Pande |
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Infrastructure : |
Eros Infrastructure Private Limited G-97 M.I.D.C. Industrial Area Buttibori -441103 Tel.: 91-7104-645005 Email: cipl@erosgroup.co.in Contact Person: Mr. Anil K. Pande. |
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Manufacturing-Furniture : |
Eros Industries G-19/1, M.I.D.C. Area, Nagpur 440 028, Maharashtra State
India Fax : 91-7104 237361 Email : erosfur_ngp@sancharnet.in Contact Person: Mr. Anil K. Pande |
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Trading
Furniture : |
Eros General Agencies Private Limited Rani Jhansi Square, Nagpur - 440 012, Maharashtra, India Tel.: 91-712 556691 Fax : 91-712 542267 Email : erosind_ngp@sancharnet.in Contact Person: Mr. Akhil K. Pande |
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Manufacturing-Light Engineering Products: |
Eros Metal Works Private Limited G-5, M.I.D.C. Area, Nagpur - 440 028, Maharashtra State
India Fax : 91-7104 32748 Email : emwpl_ngp@sancharnet.in Contact Person: Amit K. Pande. |
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Automobile
Franchises : |
Eros Motors Private Limited Ghat Road, Nagpur – 440018, Maharashtra, India Tel.: 91-712 – 2773943 Fax : 91-712 – 2774740 Email: empl_ngp@sancharnet.in Contact Person : Mr. Anuj K. Pande |
DIRECTORS
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Name : |
Mr. Atul Narayan Pande |
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Designation : |
Director |
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Address : |
7, Bhagwaghar Layout, Dharampeth, Nagpur – 440 010, Maharashtra, India |
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Date of Birth/Age : |
11.08.1952 |
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Date of Appointment : |
04.05.2004 |
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Name : |
Mr. Amit Narayan Pande |
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Designation : |
Director |
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Address : |
7, Bhagwaghar Layout, Dharampeth, Nagpur – 440 010, Maharashtra, India |
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Date of Birth/Age : |
16.12.1962 |
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Date of Appointment : |
04.05.2004 |
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Name : |
Mr. Akhil Narayan Pande |
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Designation : |
Director |
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Address : |
7, Bhagwaghar Layout, Dharampeth, Nagpur – 440 010, Maharashtra, India |
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Date of Birth/Age : |
10.03.1961 |
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Date of Appointment : |
04.05.2004 |
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Name : |
Mr. Narayanprasad Manmohan Pande |
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Designation : |
Director |
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Address : |
7, Bhagwaghar Layout, Dharampeth, Nagpur – 440 010, Maharashtra, India |
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Date of Birth/Age : |
18.10.1929 |
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Date of Appointment : |
10.02.1976 |
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Name : |
Mrs. Gayatridevi Narayanprasad Pande |
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Designation : |
Director |
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Address : |
7, Bhagwaghar Layout, Dharampeth, Nagpur – 440 010, Maharashtra, India |
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Date of Birth/Age : |
31.03.1934 |
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Date of Appointment : |
10.02.1976 |
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Name : |
Mrs. Veenadevi Pande |
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Designation : |
Director |
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Address : |
7, Bhagwaghar Layout, Dharampeth, Nagpur – 440 010, Maharashtra, India |
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Date of Birth/Age : |
15.07.1955 |
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Date of Appointment : |
22.03.2007 |
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Name : |
Mrs. Pooja Pande |
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Designation : |
Director |
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Address : |
7, Bhagwaghar Layout, Dharampeth, Nagpur – 440 010, Maharashtra, India |
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Date of Birth/Age : |
20.06.1972 |
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Date of Appointment : |
22.03.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2007
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Names of Shareholders |
No. of Shares |
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Gayatridevi Narayanprasad Pande |
183960 |
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Atul Narayan Pande |
45990 |
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Anil Narayan Pande |
45990 |
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Avinash Narayan Pande |
45990 |
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Akhil Narayan Pande |
45990 |
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Amit Narayan Pande |
45990 |
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Anuj Narayan Pande |
45990 |
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Total |
459900 |
As on 29.09.2007
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Diverse Range of Products such as Tractor
Trailer, Agriculture Implements, Garbage Handling Products - Solid Waste Management
Products, Sheet Metal Tubular and Fabricated Components including
Galvanisation. |
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Products : |
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Brand Names : |
“EROS” |
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Exports : |
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Countries : |
Middle East, Sub Sahara Countries, United Kingdom |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
145 |
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Bankers : |
Nagpur Main, Sardar Patel Marg, Kingsway,
Nagpur – 440 001, Maharashtra, India
Ground Floor, National Insurance Building,
Kingsway, Nagpur – 440 001, Maharashtra, India
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Facilities : |
Secured Loans :
Unsecured Loans :
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B.C. Bhartia Chartered Accountants |
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Address : |
Sadoday Complex, Central Avenue Road, Nagpur – 440 018, Maharashtra,
India |
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Associates/Subsidiaries : |
· Eros Industries · Eros General Agencies (Private) Limited · Eros Motors ( Private) Limited · Eros Infrastructure ( Private ) Limited · Eros Metal Works ( Private ) Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- Each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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459900 |
Equity Shares |
Rs.10/- Each |
Rs.4.599
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 |
4.599 |
4.599 |
4.599 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
8.548 |
8.053 |
7.882 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.147 |
12.652 |
12.481 |
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LOAN FUNDS |
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1] Secured Loans |
27.218 |
9.648 |
7.348 |
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2] Unsecured Loans |
15.619 |
14.388 |
13.099 |
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TOTAL BORROWING |
42.837 |
24.036 |
20.447 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
55.984 |
36.688 |
32.928 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.168 |
13.450 |
13.539 |
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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 |
24.545
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20.005 |
13.694 |
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Sundry Debtors |
21.802
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5.740 |
7.532 |
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Cash & Bank Balances |
3.900
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3.000 |
1.483 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
6.579
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3.106 |
3.659 |
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Total
Current Assets |
56.826
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31.851 |
26.368 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
20.965
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8.463 |
6.799 |
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Provisions |
1.045
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0.150 |
0.180 |
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Total
Current Liabilities |
22.010
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8.613 |
6.979 |
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Net Current Assets |
34.816
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23.238 |
19.389 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
55.984 |
36.688 |
32.928 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
80.671 |
39.291 |
43.225 |
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Other Income |
0.317 |
0.382 |
1.804 |
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Total Income |
80.988 |
39.673 |
45.029 |
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Profit/(Loss) Before Tax |
0.527 |
0.321 |
0.469 |
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Provision for Taxation |
0.031 |
0.150 |
0.536 |
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Profit/(Loss) After Tax |
0.496 |
0.171 |
(0.067) |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
(0.539) |
(6.412) |
(5.002) |
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Financial Charges |
4.416 |
2.331 |
1.625 |
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Depreciation & Amortization |
1.707 |
1.596 |
1.240 |
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Other Expenditure |
74.877 |
41.837 |
46.697 |
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Total Expenditure |
80.461 |
39.352 |
44.560 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.61
|
0.43 |
(0.15) |
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Net Profit Margin (PBT/Sales) |
(%) |
0.65
|
0.82 |
1.09 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.68
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0.71 |
1.18 |
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Return on Investment (ROI) (PBT/Networth) |
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0.04
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0.03 |
0.04 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.93
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2.58 |
2.20 |
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Current Ratio (Current Asset/Current Liability) |
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2.58
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3.70 |
3.78 |
LOCAL AGENCY
FURTHER INFORMATION
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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10043730 |
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Corporate
identity number of the company |
U99999MH1976PTC018808 |
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Name of the
company |
EROS METAL WORKS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Jhansi Rani Square, Sitabulde, Nagpur – 440 001, Maharashtra, India |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Small Industries Development Bank of India Ground Floor, National Insurance Building, Kingsway, Nagpur – 440 001,
Maharashtra, India E-Mail: rvprasad@sidbi.in |
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Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
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Date of
instrument Creating the charge |
10.05.2007 |
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Amount secured by
the charge |
Rs.8.500 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
On New Project Loan of Rs.4.000 Millions at the rate specified by SIDBI at
present – 12% p.a. Terms of
Repayment: The New Project Loan of Rs.4.000 Millions is repayable in 25 equal
quarterly installments of Rs.0.160 Million each starting from March 1, 2008
and dates of payment shall be March 1, June 1, September 1 and December 1 of
each year. Interest shall be paid with monthly rests. Margin: Rs.3.400
Millions by way of unsecured loan. Extent and
Operation of the charge: Hypothecation of all the Movable including Plant,
Machinery and Equipment acquired |
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Short particulars
of the property charged |
Movable including
Plant, Machinery and Equipment acquired / to be acquired against the Term
Loan of Rs.4.500 Millions sanctioned by SIDBI. |
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Particulars of
the present modification |
By present
Modification additional Credit facility by way of project finance of Rs.4.000
Millions is granted to Eros Infrastructure Private Limited. |
FIXED ASSETS:
- Land
- Factory
Building
- Plant and
Machinery
- Electrical
Fitting
- Furniture and
Fixture
- Office
Equipment
- Computer
- Mobile
- Vehicle
WEBSITE DETAILS:
GROUP PROFILE:
With inherent strengths stemming from infrastructure of a competent
Light Engineering Unit - diversified successfully as OEM to Automobile Industry
and then added wide range of Solid Waste management Products.
Group is proud to be associated with leading International names in Automobile
- as franchisee for Hyundai, Swaraj Mazda LCVs and PIAGGIO Three Wheelers.
Also launched the first Furniture Mall of Central India with 12,000 sft of
display area in the heart of city of Nagpur.
Now, entering the fast growing field of "Infrastructure" with focus
on Power, Telecom and Railway sectors
Family Managers
A family owned business with professional outlook operates on "Profit
Centre" concept. There are four Profit Centers, two each for trading and
manufacturing activities. Each Profit Centre is headed by a Family Manager, who
is the CEO accountable for the performance and growth to the Group Management
Fifth Profit Centre is being added with manufacturing activity of 'TLT'.
Milestones
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1962 : |
Diversified from Trading to Manufacturing of Steel Furniture |
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1966 : |
Recognition by Maharashtra State Government - by awarding Rate
Contract for round the year supplies for Steel Furniture |
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1970 : |
Launched chain of Retail Furniture Stores for Furniture and wide range
of Consumer Durables |
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1975 : |
Manufacturing shifted to new plant built on a 36,000 Sq Mtr. Plot at
MIDC Industrial Area. |
|
1989 : |
Automobile Franchise for "Swaraj-Mazda"range of LCVs |
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1993 : |
Time bound successful execution of a very prestigious contract for
Steel Furniture to a 'World Bank' aided Project. |
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1994 : |
Commencement of Coach building activity |
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1995 : |
Successful execution of maiden export order for Steel Furniture (CKD)
- to S F C E France |
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1996 : |
OEM for Sheet Metal Components with Mahindra and Mahindra ? An
Automobile giant of India |
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1997 : |
Franchise for Complete range of cars from FIAT stable. |
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2001 : |
Launched the first "Furniture Mall" of Central India. |
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2003 : |
Launched Swaraj Mazda LCV franchise at Jabalpur (M.P.) |
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2004 : |
ISO-9002-2000 accreditation for Manufacturing Unit |
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2006 : |
Commissioning of 25,000 MT capacity Hot Dip Galvanised 'Tower" manufacturing
Plant at Butibori Industrial Area, Nagpur |
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2007 |
Franchise for Complete range of cars from Hyundai Cars. |
EROS Group is having well diversified activities and hard
built credibility nearing 5 decades now. Currently having following operating
Profit Centres:
- Eros
Industries
Pioneers of Steel Furniture manufacturing in Central India ,
Marketed under famous "Eros" brand
- Eros General
Agencies Private Limited
Popularly known as Eros Furniture Mall - Trading in latest
Furniture designs sourced from all over the world
- Eros Motors
Private Limited
Franchisee for Sales, Spares and Service for renowned automobile
Products like Hyundai Cars, Swaraj Mazda L C Vs and PIAGGIO
3-Wheelers
- Eros Metal
Works Private Limited
- "O E M to Mahindra and Mahindra"
for Tractor Components
- Mfrs of "Ammunition Boxes" for
Defence
- Mfrs of wide range "Solid Waste
Management Products"
- Eros
Infrastructures Private Limited
Manufacturers Towers of all kinds for varied applications like Power
Transmission, Telecom, Railways etc in tie-up with K E C Limited ( An R P G Group Company ).
Company Profile
Subject, Nagpur (India), established in the year 1976, is a prominent manufacturer and exporter of diverse range of products such as tractor trailer, agriculture implements, garbage handling products - solid waste management products, sheet metal tubular and fabricated components including galvanisation. The spectrum of products manufactured by them has wide usage in various industries such as agriculture farm segments, automobile industry, electric, power, telecom, railway industry as well as solid waste management products in Health related Department/organization.
Ever since inception, offering reliable, quality products and services has been the greatest endeavor. The efficient infrastructural framework comprising of indigenous machinery has greatly enabled them to mark a prominent place in the Indian market. They have a talented human resource that work consistently to upgrade the manufacturing process and thereby are immensely contributing their best for the remarkable impressive image of the company.
Owing to the customer centric approach, they also offer customized solutions as per the specifications demanded by the client with a view to improvise healthy cordial relations within the ethical business boundaries.
The Mentor
Initially, the company was founded by Late Shri Narayan Prasad Pande in the year 1962. The lineage of quality services is forwarded with same precision and presently the various Product Group are headed by the family Manager's (Sons of the founder). They have been a potent source of inspiration and has stood by them during every fragile moment. It has been his humble nature that stimulates them to perform the level best and thus helps in propagating the glory more optimistically.
Achievements
They have three designs registered with Patent Authorities for "Solid
Waste Management Products" NAME- Mobile Container Device "EMR"
NO. 190909,190910,190912.
The Journey Down The Years
They have traversed across a long span of time and have established an
eminent place with regard to the reliable products as well as services. A long
account of the firm grasp in this field is as follows:
1962: Diversified from Trading to Manufacturing of Steel Furniture
1966 : Recognition by Maharashtra State Government
- by awarding Rate Contract for round the year supplies for Steel Furniture
1970: Launched chain of
Retail Furniture Stores for Furniture and wide range of Consumer Durables
1975: Manufacturing shifted to new plant built on a 36,000 Sq Mtr. Plot
at MIDC Industrial Area.
1989: Automobile Franchise for Swaraj-Mazda range
of LCVs
1993 : Time bound successful
execution of a very prestigious contract for Steel Furniture to a World Bank
aided Project.
1994 : Commencement of Coach building activity
1995 : Successful
execution of maiden export order for Steel Furniture (CKD) - to S F C E France.
1996 : OEM for Sheet Metal Components with Mahindra and Mahindra An
Automobile giant of India
1997 : Franchise for Complete range of cars from
FIAT stable.
2001 : Launched the first Furniture Mall of
Central India.
2003 : Launched Swaraj Mazda LCV franchise at
Jabalpur (M.P.)
2004 : ISO-9002-2000 accreditation for
Manufacturing Unit
2007 : Commissioning of 25,000 MT capacity Hot Dip
Galvanised Tower manufacturing Plant at Butibori Industrial Area, Nagpur
2008 : Franchise for Complete range of "
HYUNDAI" cars.
Customization
They offer customized solutions on the wide range of the products according to
the specifications demanded by the esteemed clients. They understand that the
broad range of clients have different requirements pertaining to the
application of the products. Some of the parameters on which they offer
customization on the products are as follows:
- Dimensions
- Shapes and Colors
- Functionality
- Durability
Team
They have a talented team that have a single minded approach towards their area
of specialization. The team comprises of experienced engineers, technicians and
workers that work with utmost dedication in order to achieve highest accolades
in their domain. The engineers and technicians are diligent in carrying out the
manufacturing of the products with utmost precision. In addition to it, the
traditional sheet metal craftsmen harness to shape the most complicated sheet
metal designs.
After Sales Support
They understand that the customers and their requirements vary and everyone may not be aware of the proper functionality of the products. Thus they offer after sales support to the esteemed clients to help in smooth running of the products that meet all the farming requirements efficiently and effectively. The after sales services can be availed for the following:
- Repairing
- User Manual
- Onsite Support
- Query Handling
- Installation
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Name of C.E.O. |
Shri Amit Pande |
|
Establishment Year |
1976 |
|
Primary Business Type |
Manufacturer and Exporter |
|
No. of Employees |
350 |
|
Annual Turn Over |
500 Millions |
|
Market Cover |
Middle East, Sub Sahara Countries, United Kingdom |
- Tractor Trailer - (Tipping and Non Tipping)
- Agriculture Implements : Mb Plough 2 and 3 Bottom, Reversible Plough Single and Double Furrow, Mounted Disc Plough, Mounted Disc Harrow, Rotavator, Cultivator – Rigid and Spring Loaded, Seed Drill, Thresher Tractor Driven, Peanut Planter, Peanut Drigger, Sugarcane Planter
- Steel Bullock Cart
- Garbage Handling Products / Solid Waste Management Products (Bell Handcart and Wheel Barrow, Container Carrier Handcart, Mobile Container, Rickshaw, Litter Bins, Open and Closed Garbage Ms Container, Refuse Bin - Galvanised and Painted Suitable for Compactors, Garbage Waste Handling Vehicles On Trailers such as :- Vacuum Emptier, Mobile Toilet, Animal Carrying Low Bed Trailer
- Sheet Metal, Tubular and Fabricated Components Including Galvanisation.:- Tool Box, Battery Cover, Battery Tray, Battery Cum Tool Box, Hood Mounting Structure, Rear Climber, Fender Seat, Foot Steps, Frame Assembly Chassis, Platform Assembly/rear Sitting Cum Loading Body, Railway Sleeper, Distribution Box, Ladders, Junction Boxes, Electric Poles, Cable Tray, Cable Trench, Earthing Strip Plate, Highway Safety Guard, Road Sign Board, Accessories and Fittings
- Tower Electrical Transmission (tlt),Telecom and Any Galvanised Structure
- Steel Packaging Box, Steel Container, Steel Cane, Steel Ammunition Box.
- Furniture – Steel and Wooden
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
|
UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
48 |
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 |
|