MIRA
INFORM REPORT
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Report Date : |
13.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
LAKSHMI CARD
CLOTHING MANUFACTURING COMPANY PRIVATE LIMITED |
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Registered Office : |
Semmipalayam Kuppusway
Naidupuram Post, Coimbatore – 641 662, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
06.01.1960 |
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Com. Reg. No.: |
18 - 343 |
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CIN No.: [Company
Identification No.] |
U17219TZ1960PTC000343 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBL03203E |
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Legal Form : |
A Closely held
Public Limited Liability Company |
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Line of Business : |
Manufacturer of Card
Clothing and Card Room Service Machineries |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 2185030 |
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Status : |
Good |
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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 of LMW Group, a well- known industrial
house of Coimbatore. Trade relations
are fair. Financial position is good. Payments are correct and as per
commitments. The company can
be considered good for normal business dealing at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Semmipalayam Kuppusway Naidupuram, Coimbatore - 641 662, Tamil Nadu, India |
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Tel. No.: |
91-4255-277105 to
277 107 |
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Fax No.: |
91-4255-277107 |
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E-Mail : |
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Website : |
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Corporate Office : |
Lakshmi Plaza,
1089, Avanashi Road, Coimbatore – 641037, India |
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Tel. No.: |
91-422-210 205 [4
Lines] |
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Fax No.: |
91-422-216694 |
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E-Mail : |
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Website: |
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Corporate Office : |
Kuppuswamynaidupuram
Post 641 662, Coimbatore District |
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Factory: |
Samipalayam
Village, Kuppuswami Nalcker Puram, Palada Taluk, Coimbatore - 641662, India |
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Selling Agent
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1413, Trichy
Road, Coimbatore – 641014, India |
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Tel. No.: |
91-422-2303083 |
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Fax No.: |
91-422-2301515 |
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E-Mail : |
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Liaison
Office: |
191, Marshalls
Road, Egmore - 600 008, Chennai, Tamil Nadu, India |
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Tel. No.: |
91-44-2855 4990 /
2855 4369 |
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Branch Office: |
203, Anshi Avenue, Behind Ketav Petrol Pump, Opp. to Vandana School,
Gulbai Tekra, Ahmedabad - 380 015, Gujarat, India |
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Tel No.: |
91-79 -2646 5754 |
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Fax No.: |
91-79 -2646 4933 |
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Email: |
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Branch Office: |
"Meeting Point", S.C.O.487-488, Sector 35-C, Chandigarh - 160
022, Punjab, India |
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Tel No.: |
91-172-508 7324/260 3771 |
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Fax No.: |
91-172-262 1404 |
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Email: |
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Branch Office: |
302, Pragathy Enclave, Bhagya Nagar Colony Opp: Kukat Pally Housing
Board, Kukat Pally Post Hyderabad - 500 072, Andhra Pradesh, India |
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Tel No.: |
91-40-2306 5542 |
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Mobile No.: |
91-98481 35542 |
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Email: |
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Branch Office: |
305, Yesodha Apartments, 6/7, Mahaveer Nagar, Kanadia Road, Indore -
452 018, Madhya Pradesh, India |
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Tel No.: |
91-731-503 5175 |
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Fax No.: |
91-98263 95175 |
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Email: |
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Branch Office: |
E/1894, F-1, Karekar Sankul, Rajarampuri 10th Lane, Kolhapur - 416 008,
Maharashtra, India |
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Tel No.: |
91-231-252 9709 |
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Mobile No: |
91-98222 77791 |
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Email: |
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Branch Office: |
32/3, Doctor Bagane Lane, P.O. Serampore Dist. Hooghly, Kolkata – 712
203, West Bengal, India |
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Tel No.: |
91-33-2622 3142 |
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Email: |
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Branch Office: |
I-3 SIDCO Industrial Estate, K.Pudur, Madurai - 625 007, Tamil Nadu,
India |
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Tel No.: |
91-452-256 5855, 256 6756 |
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Fax No.: |
91-452-256 8263 |
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Email: |
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Branch Office: |
Flat No.203,
Sukhakarta Apartments, 15, Balraj Marg, Dhantoli, Nagpur - 440 012,
Maharashtra, India |
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Tel No.: |
91-712-2548340 |
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Fax No.: |
91-98229-32770 |
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Email: |
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Branch Office: |
403-C, Ocean
Plaza, Sector 18, Noida 201 301, Dist.Gautam Budh Nagar, Uttar Pradesh, India |
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Tel No.: |
91-120-2511047/019 |
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Fax No: |
91-120-2591498 |
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Email: |
DIRECTORS
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Name : |
Mr. S. Kuppuswamy Sundaram |
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Designation : |
Director |
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Address: |
Rasakondalu, Circuit House Road, Coimbatore – 641018, Tamilnadu, India |
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Date of Birth/Age : |
29.05.1914 |
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Date of Appointment : |
12.09.1980 |
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Name : |
Mr. Rangaswamy Santhanam |
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Designation : |
Vice Chairman and Managing Director |
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Address: |
Prathishta, New No.241, Old No.183, Race Course, Coimbatore – 641018,
Tamil nadu, India |
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Date of Birth/Age : |
21.03.1937 |
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Date of Appointment : |
11.09.1964 |
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Name : |
Mr. Sundaram Pathy |
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Designation : |
Director |
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Address: |
Rasakondalu, Circuit House Road, Coimbatore – 641018, Tamilnadu, India |
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Date of Birth/Age : |
17.11.1949 |
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Date of Appointment : |
27.03.1975 |
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Name : |
Mr. Reddyygari Chinna Hanumantha Reddy |
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Designation : |
Director |
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Address: |
Flat No.A4/2, 45, Park Avenue, Race Course, Coimbatore – 641018,
Tamilnadu, India |
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Date of Birth/Age : |
01.06.1935 |
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Date of Appointment : |
26.06.1996 |
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Name : |
Mr. Santharam Harishankar |
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Designation : |
Whole Time Director |
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Address: |
Prathishta, New No.241, Old No.183, Race Course, Coimbatore – 641018,
Tamil nadu, India |
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Date of Birth/Age : |
07.05.1973 |
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Date of Appointment : |
01.04.2007 |
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Name : |
Mr. M Thangavelu |
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Designation : |
Director |
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Name : |
Mr. V Mohan |
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Designation : |
Director |
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Name : |
Mr. M Palaniswamy |
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Designation : |
Director |
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Name : |
Mr. Ralph a. Graf |
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Designation : |
Director |
KEY EXECUTIVES
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Name |
Mr. S. K.
Sundaram |
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Designation |
Chairman |
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Date of Birth |
20.19.1914 |
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Address |
27, Circuit House
Road, Coimbatore – 641018, India |
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Name |
Mr. R. Santhanam |
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Designation |
Vice Chairman and
Managing Director |
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Date of Birth |
04.03.1938 |
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Address |
Prathisht, 183,
Race Course Road, Coimbatore – 641018, India |
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Name |
Mr. S. Pathy |
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Designation |
Director |
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Date of Birth |
17.11.1949 |
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Address |
Rasakondalu, 27,
Circuit House Road, Coimbatore – 641018, India |
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Name |
Mr. Ralph A. Graf |
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Designation |
Director |
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Date of Birth |
25.09.1939 |
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Address |
Graf Sales
Limited, 28, Burgstrasse CH 8750, Switzerland |
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Name |
Mr. R. C. H.
Reddy |
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Designation |
Director |
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Date of Birth |
01.06.1935 |
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Address |
48, Race Course
Road, Coimbatore – 641018, India |
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Name |
Mr. S.
Harishankar |
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Designation |
Whole Time
Director |
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Date of Birth |
07.05.1973 |
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Address |
Prathishta, 183,
Race Course Road, Coimbatore – 641018,
India |
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Name |
Mr. M Palaniswamy |
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Designation |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2006
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Names of Shareholders |
Percentage |
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Directors and
Relatives directors |
85.00 |
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Other top fifty(50)
shareholders (other than listed above) |
15.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Card Clothing and Card Room Service Machineries |
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Products : |
Card
Clothing
C-Cleaner
Mark II Carding Systems
Card
Room Accessories
Hydro
Extractor RF
Dryer |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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GENERAL
INFORMATION
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No. of Employees : |
800 |
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Bankers : |
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Facilities : |
The subject is enjoying
the following facilities from Andhra Bank as per agreement dated 28.06.2006
It is secured against
immovable properties of land admeasuring area of 40.12 Acres situated at
Kuppusamy Puram, Palladam Taluk, Coimbatore, Tamil Nadu and land area: 12.06
acres situated at Nallatipalayam, Kinathukadavu, Pollachi Taluk in Coimbatore
District, Tamil Nadu. Hypothecation of
plant and machinery, stocks and book debts of the company. |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Subbchar and
Srinivasan Chartered
Accountants |
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Address : |
34, Kalingarayar Street,
Ram Nagar, Coimbatore - 641 009, Tamilnadu, India |
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Name: |
M S Rajagopalan Chartered
Accountants |
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Address: |
65-A, Venkata
Samy Road, R.S. Puram, Coimbatore – 641 002, Tamilnadu, India |
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Memberships : |
Confederation of Indian
Industry |
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Associates/Subsidiaries : |
1100, Avanashi Road, Coimbatore-641037, Tamil Nadu, India Tel. No. 91-422-2215461/68 Fax No. 91-422-2216508 E-mail : contact@lakshmimills.com
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Quality Assessment : |
ISO 9001 : 2000 certification by RW-TUV of Germany |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity shares |
Rs. 100/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity shares |
Rs. 100/-
each |
Rs. 30.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
30.000 |
30.000 |
30.000 |
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2] Reserves & Surplus |
407.006 |
370.516 |
318.325 |
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3] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
437.006 |
400.516 |
348.325 |
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LOAN FUNDS |
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1] Secured Loans |
189.060 |
98.673 |
99.175 |
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2] Unsecured Loans |
99.961 |
114.637 |
97.833 |
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TOTAL BORROWING |
289.021 |
213.310 |
197.008 |
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DEFERRED TAX LIABILITIES |
26.277 |
12.986 |
17.270 |
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TOTAL |
752.304 |
626.812 |
562.603 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
150.568 |
108.201 |
96.740 |
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Capital work-in-progress |
4.244 |
0.000 |
2.884 |
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INVESTMENT |
78.731 |
87.168 |
53.139 |
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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 |
131.297
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124.357 |
125.447 |
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Sundry Debtors |
159.510
|
151.068 |
122.776 |
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Cash & Bank Balances |
275.868
|
207.836 |
176.399 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
284.699
|
212.867 |
155.762 |
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Total
Current Assets |
851.374
|
696.128 |
580.384 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
116.605
|
110.512 |
81.527 |
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Provisions |
217.649
|
155.518 |
90.814 |
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Total
Current Liabilities |
334.254
|
266.030 |
172.341 |
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Net Current Assets |
517.120
|
471.701 |
408.043 |
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MISCELLANEOUS EXPENSES |
1.641 |
1.345 |
1.797 |
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TOTAL |
752.304 |
626.812 |
562.603 |
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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 |
817.637 |
798.217 |
630.634 |
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Total Income |
817.637 |
798.217 |
630.634 |
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Profit/(Loss) Before Tax |
141.729 |
138.735 |
101.989 |
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Provision for Taxation |
52.591 |
48.916 |
38.751 |
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Profit/(Loss) After Tax |
89.138 |
89.819 |
63.238 |
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Earnings in Foreign Currency : |
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Export Earnings |
115.052 |
106.155 |
81.940 |
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Total Earnings |
115.052 |
106.155 |
81.940 |
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Imports : |
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Raw Materials |
150.347 |
75.131 |
N.A. |
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Total Imports |
150.347 |
75.131 |
N.A. |
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Expenditure |
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Raw Material Consumed |
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237.949 |
157.994 |
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Consumption of Stores ands Spare Parts |
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53.630 |
41.774 |
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Increase / decrease in Finished Goods |
NA |
(7.857) |
2.816 |
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Salaries, Wages and Bonus |
|
86.519 |
79.663 |
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Managerial Remuneration |
|
10.313 |
9.273 |
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Administrative Expenses |
|
228.142 |
195.798 |
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Financial Charges |
|
28.769 |
18.275 |
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Depreciation |
25.152 |
22.017 |
23.052 |
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Other Expenditures |
650.756 |
0.000 |
0.000 |
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Total Expenditure |
675.908 |
659.482 |
528.645 |
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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 |
(%) |
10.90
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11.25 |
10.03 |
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Net Profit Margin (PBT/Sales) |
(%) |
17.33
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17.38 |
16.17 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
17.33
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17.38 |
16.17 |
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Return on Investment (ROI) (PBT/Networth) |
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0.32
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0.35 |
0.29 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.76
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0.65 |
0.49 |
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Current Ratio (Current Asset/Current Liability) |
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2.55
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2.81 |
3.37 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate identity
number (CIN) Foreign company registration number |
U17219TZ1960PTC000343 |
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Name of the
Company |
LAKSHMI CARD
CLOTHING MANUFACTURING COMPANY PRIVATE LIMITED |
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Address |
Semmipalayam Kuppusway Naidupuram, Coimbatore - 641 662, Tamil Nadu, India |
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This form is for |
Modification of
charge |
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Type of Charge |
Movable Property
(not being pledge) |
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Particulars of
the charge holder |
Andhra Bank Main Branch, 17 –
Mill Road, Coimbatore – 641041, Tamilnadu, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Composite
Agreement |
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Date of the
instrument creating or modifying the charge |
01.11.2007 |
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Amount secured by
the charge |
Rs.160.750
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
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Short particulars
of the property charged (including location of the property) |
The Plant and
Machinery Erected at the Factory or Stored at any other place. |
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Particular of the
present modification |
Modification of
the limits from Rs.80.750 Millions to Rs.160.750 Millions and all other
conditions remain the same. |
Form 8
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Name of the company |
LAKSHMI CARD
CLOTHING MANUFACTURING COMPANY PRIVATE LIMITED |
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Presented By |
Lakshmi Card
Clothing Mnufacturing Company Private Limited and Bank of Baroda
and Andhra Bank, Coimbatore |
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1) Date and description of instrument creating the change |
Date and
Description of the instrument Creating the charge. Joint equitable mortgage
created by Lakshmi Card Clothing Mnufacturing Company Private Limited., by
deposit of title deeds of the immovable properties and fixed assets of the
company in favour of Bank of Baroda and Andhra Bank on 12.08.1985 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Amount Secured by
the charge/amount owing on security of the charge- Bank of
Baroda Rs.
13.429 Millions Andhra Bank Rs. 9.238
Millions Total Rs. 22.667 Millions |
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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 |
Short Particular
of the property charged, If the acquired is subject to charge, date of the
acqulstion of property should be given. Deposit of title
deeds of the immovable property belonging to the company, briefly as under;
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4) Gist of the terms and conditions and extent and operation of the charge. |
The Company has Created
joint equitable mortgage by deposit of title deeds in favour of Bank of
Baroda and Andhra Bank on jointly on a pari passu on the immovable property
of the company together with building and other stricture, Fixed plants and
machinery, equipment, installation, fitting and fixture now erected or
hereafter to be brough theron and to be creted to secured the due repayment
of the following.
The due repayment
of the interest repayment, Premia Cost charge and expenses liquidated damages
in the default in payment of installment and interest and all other monies
payable by the company to bank of Baroda and Andhra Bank. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Baroda 82 Bank Road,
Coimbatore - 641018 |
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6) Date and brief description of instrument modifying the charge |
09.01.2006 Letter of
confirmation executed by the Company Memorandum of entry by Bank of Baroda acting for itself and andhra
bank. Letter of the bank for shifting the wind mill. |
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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. |
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As Per Website Details
The company is a part
of the celebrated Indian corporate house ‘The House of Lakshmi’ which holds a
prestigious position in the textile and textile machinery market. The company offers the ‘Complete Card Room
Technology’.
The company is
capable of manufacturing complete range of Card Clothing and Card Room Service
Machineries. They have been awarded the
EN-ISO 9001 certification by RW-TUV of Germany, which turns out to be the
recognition of its expertise in designing, development, manufacturing and
servicing in the domain of Card Clothing.
The subject company has recently launched 6 new products. In addition to
the existing cardroom accessories, 4 new products have been launched. One
product - CuttySharp II from Card Clothing and one more product - C-Factor
Carding System has also been launched
The efforts of its
R and D team backed by expertise and quality is sustained by its close
association with leading Original Equipment Manufacturers like LMW an TRUMAC.
This has lead to the development of sophisticated products, which have
revolutionised the carding technology.
Subject is a
revolution redefine the way cotton is processed. Avant-grade technology that
takes speed to an all- new level innovation that brings together a mélange of
cutting edge know-how a passion for excellence and the company’s 4 decade
expertise.
Services
Subject has a well
linked Sales and Service network. This helps us in providing excellent service
and support to their customers.
They are represented
by both International and National selling agents.
Products
v Card Clothing
v Cylinder Wires
v Doffer Wires
v Flat Tops
v Lickerin Wires
v Special Wires
v Stripping Fillets
v C-Cleaner Mark II Carding System
v Card Room Accessories
v Radio Frequency Dryer
v Hydro Extractor [Brand Name Zeneros] – It is
specially designed for centrifuge of yarn cones or cheeses
After dyeing.
v R.F. Dryer [Brand Name INSTA] – It is very useful in cases where the textile materials are to be dried
after
dyeing, mercerising or wet processing.
Lakshmi Card Clothing unveils Qubex. A revolution that will redefine the way cotton is processed. Avant-garde technology that takes speed to an all - new level. Innovation that brings together a melange of cuttion edge know-how, a passion for excellence and the company's 4 decade expertise.
Qubex from LCC is the latest dimension to card room technology and is specially
designed to match the needs of high production cards, Qubex focuses on
maximising quality output at high production using innovation in design,
metallurgy and process techniques.
Qubex is specifically designed to match processing requirements of versatile
cotton applications.
LCC is one of the most trusted solution providers for card room. With the
combined synergies of excellence, expertise and experience, Qubex will clearly
take carding to a new dimension; a new dimension of excellence.
Qubex Cylinder Wire
v
Special tooth profile to enhance the consistency in carding
performance of ultra high production cards.
v
Better metallurgical composition to withstand wear and tear
at super high production rate
v
New process techniques for sharper curvature.
v
Retention of sharpness avoids frequent sharpening
Qubex
Doffer Wire
v
A special tooth profile with sharper
wire points for superior transfer of fibre from cylinder.
v Re-cycling of fibre is avoided at ultra high speed cards
v Micro ridges on one flank prevent web slippage.
v Retention of sharpness avoids frequent re-sharpening
Qubex Flat Tops
v
Infinitely progressive setting pattern upgraded with
increased density of wire points for ultra high production cards.
v
Improved pattern results in better extraction of trash and
seed particles and individualization of fibre
v
Advanced metallurgical composition on flat wire to withstand
higher load / stress at high production rates.
v
New process techniques to enhance sharpness of flat wire
pins
Trade Terms
·
Raymonds
Limited, Chinchwada, Maharashtra, India
·
Tuticorin
Spinning Mills Limited, Tuticorin, Tamil Nadu, India
·
Dev Tharea Rag
Rugs, Ghaziabad, Uttar Pradesh, India
·
Precot Mills
Limited, Unit STP Dyeing
·
Sivasakthi Tex
Processes, Tirupur, Tamil Nadu, India
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 :
The 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.
The 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. 45.77 |
|
UK Pound |
1 |
Rs. 80.67 |
|
Euro |
1 |
Rs. 64.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
68 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|