1. Summary Information
|
|
|
Country |
India |
|
Company Name |
TTP Technologies Private Limited |
Principal Name 1 |
Mr. Balaram Menon |
|
Status |
Moderate |
Principal Name 2 |
Mr. Malleshaiah Devarajaiah |
|
|
|
Registration # |
004963 |
|
Street Address |
#486 ‘D’, 4th Phase, 13th Cross, Peenya
Industrial Area, Near Atlanta Pumps, Bangalore – 560058, Karnataka, India |
||
|
Established Date |
21.09.1982 |
SIC Code |
-- |
|
Telephone# |
91-80-28394918/ 28361488 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-80-28394304 |
Business Style 2 |
-- |
|
Homepage |
www.ttpradiators.com |
Product Name 1 |
Transformer Radiators Heat Exchangers |
|
# of employees |
1200
(Approximately) |
Product Name 2 |
Other Heat Exchanger Systems of Various Designs. |
|
Paid up capital |
Rs.24,880,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate- 0.95%, Directors or relatives of directors- 96.61%,
Other top fifty shareholders- 2.44% |
Banking |
State Bank of India |
|
Public Limited Corp. |
No |
Business Period |
29
years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (31) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
-- |
MPP Technologies Private Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
572,946,000 |
Current Liabilities |
176,526,000 |
|
Inventories |
36,882,000 |
Long-term Liabilities |
260,861,000 |
|
Fixed Assets |
321,216,000 |
Other Liabilities |
150,596,000 |
|
Deferred Assets |
0,000,000 |
Total Liabilities |
587,983,000 |
|
Invest& other Assets |
986,000 |
Retained Earnings |
319,167,000 |
|
|
|
Net Worth |
344,047,000 |
|
Total Assets |
932,030,000 |
Total Liab. & Equity |
932,030,000 |
|
Total Assets (Previous Year) |
613,161,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
1627,200,000 |
Net Profit |
149,600,000 |
|
Sales(Previous yr) |
1186,500,000 |
Net Profit(Prev.yr) |
75,900,000 |
MIRA
INFORM REPORT
|
Report Date : |
17.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
TTP TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
Thermal Transfer Products Private Limited |
|
|
|
|
Registered Office
: |
#486 ‘D’, 4th Phase, 13th Cross, Peenya
Industrial Area, Near Atlanta Pumps, Bangalore-560058, Karnataka. |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
21.09.1982 |
|
|
|
|
Com. Reg. No.: |
004963 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.24.880
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909KA1982PTC004963 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRT02462F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT7188B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Transformer Radiators Heat Exchangers and other Heat
Exchanger Systems of various designs. |
|
|
|
|
No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The management
has not filed the latest financials of the company with the government
departments. However, trade relations are reported as fair. Business is
active. Payment terms are unknown. The company can be considered for business dealing with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Rajender |
|
Designation : |
Accountant |
|
Date : |
12.08.2011 |
LOCATIONS
|
Registered Office : |
#486 ‘D’, 4th Phase, 13th Cross, Peenya Industrial
Area, Near Atlanta Pumps, Bangalore-560058, Karnataka, India |
|
Tel No.: |
91-80-28394918 / 28361488 |
|
Fax No.: |
91-80-28394304 |
|
E-Mail : |
yeness@rediffmail.com |
|
Website : |
www.ttpradiators.com |
|
|
|
|
Overseas Office: |
For UK &
Continental Mr Sameer Shetty M/s S.M.S. Trading Corporation Limited Cell: 0044 7956 385 761 For North America & Canada please contact: M.L Gopal Tel\Fax: 254 742
1979 Jim VanArsdale For Latin America and |
DIRECTORS
AS ON: 23.09.2009
|
Name : |
Mr. Balaram Menon |
|
Designation : |
Additional Director |
|
Address : |
No. D 402, Brigade Apartments, 8th Main, 19th
Cross, Malleshwaram, Bangalore-560003, |
|
Date of Birth/Age : |
05.07.1950 |
|
Date of Appointment : |
09.02.2007 |
|
|
|
|
Name : |
Mr. Malleshaiah Devarajaiah |
|
Designation : |
Director |
|
Address : |
No. 228, 15th C Cross, 2nd Phase, Mahalakshmi
Layout, Bangalore-560086, |
|
Date of Birth/Age : |
24.05.1954 |
|
Date of Appointment : |
31.03.1998 |
|
|
|
|
Name : |
Mr. Renee Mohandas Shetty |
|
Designation : |
Directors |
|
Address : |
No.41, Kuteera |
|
Date of Birth/Age : |
17.02.1976 |
|
Date of Appointment : |
31.10.1997 |
|
|
|
|
Name : |
Mr. Alva Ratnakar |
|
Designation : |
Director |
|
Address : |
# 25 Sea Ward Valmiki Nagar,
Chennai – 600 041, Tamil Nadu |
|
Date of Appointment : |
22.09.1982 |
|
Date of ceasing : |
30.10.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mohandas Dejoo Shetty |
|
224972 |
|
Hannah Mohandas Shetty |
|
11460 |
|
BR Shanthala Devi |
|
720 |
|
Renee Mohandas Shetty |
|
7500 |
|
Paragon metalex Private
Limited, |
|
06 |
|
N N Shyamala |
|
600 |
|
Sathyendra Sujatha |
|
600 |
|
Ashok Dejoo Shetty |
|
15 |
|
Nanjunda Rao Gurumurthy Gayathri |
|
600 |
|
Malleshaiah Devarajaiah |
|
30 |
|
Harishchandra Dejoo Shetty |
|
15 |
|
Saraswathi A Shetty |
|
15 |
|
Puchpalatha H Shetty |
|
15 |
|
Sameer Shetty |
|
15 |
|
MV Prasanna |
|
15 |
|
Protective Coatings Private Limited, |
|
15 |
|
G. Sathyendra |
|
15 |
|
Rajendra |
|
15 |
|
MS Subbanna Bhat |
|
15 |
|
VJ Shetty |
|
800 |
|
MPP Technologies Private Limited, |
|
1362 |
|
|
|
|
|
Total |
|
248800 |
AS ON 30.09.2009
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate
|
|
0.95 |
|
Directors or relatives of directors |
|
96.61 |
|
Other top fifty shareholders |
|
2.44 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Transformer Radiators Heat Exchangers and other Heat
Exchanger Systems of various designs |
||||
|
|
|
||||
|
Products : |
Generic name of
principle product of the company
|
GENERAL INFORMATION
|
No. of Employees : |
1200 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State bank
of MID Corporate Loan Administration Unit, No. 61, |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Note: 1) In addition to the above securities
additional securities have been taken as under: By state Bank of · Personal guarantees from two directors ·
Equitable Mortgage of land and building at 487
(C) and 486 D At IV phase, peenya
industrial Area, ·
Equitable mortgage of · Equitable Mortgage of KIADB Housing Tenements No. 7A & 7B, at PIE, Banglore-58 · Industrial Shed #B-264, II Stage, belonging to Mr. M. D. Shetty. · Hypothecation of Unknown-encumbered Plant and Machinery · Lien on FD of Rs.2.500 millions 2) The aggregate amount of secured Loans Sanctioned in 31.03.2009 –
599.700 millions and in 31.03.2008 – 245.500 millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H.R. Alva and Associates Chartered Accountant |
|
Address : |
#483, 1st Cross, K.H.B. Colony, 5th Block,
Kormangala, Bangalore-560095, |
|
|
|
|
Associates : |
· MPP Technologies Private Limited · Rani Enterprises · Paragon Metalex Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,50,000 |
Equity Shares |
Rs.100/- each |
Rs.35.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
248800 |
Equity Shares |
Rs.100/-
each |
Rs.24.880
millions |
|
|
|
|
|
NOTE:
· 2720 Equity Shares are allotted as fully paid –up pursuant to a contract without payments being received in cash
· 53730 Equity Shares are allotted as fully paid –up by way of bonus shares by capitalization of profits.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
24.880 |
14.369 |
14.369 |
|
|
2] Share Application Money |
0.000 |
10.510 |
10.510 |
|
|
3] Reserves & Surplus |
319.167 |
169.496 |
93.533 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
344.047 |
194.375 |
118.412 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
242.288 |
132.301 |
102.980 |
|
|
2] Unsecured Loans |
18.572 |
6.051 |
1.346 |
|
|
TOTAL BORROWING |
260.861 |
138.352 |
104.326 |
|
|
DEFERRED TAX LIABILITIES |
12.440 |
0.803 |
0.281 |
|
|
|
|
|
|
|
|
TOTAL |
617.348 |
333.530 |
223.019 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
321.216 |
119.371 |
70.459 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.515 |
0.515 |
0.415 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
36.882
|
44.814
|
43.768 |
|
|
Sundry Debtors |
277.441
|
298.250
|
170.118 |
|
|
Cash & Bank Balances |
13.750
|
7.905
|
3.220 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
281.755
|
141.412
|
99.368 |
|
Total
Current Assets |
609.828
|
492.381
|
316.474 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
6.197
|
14.745
|
15.767 |
|
|
Sundry Creditors |
170.329
|
194.254
|
119.016 |
|
|
Provisions |
138.156
|
70.632
|
29.859 |
|
Total
Current Liabilities |
314.682
|
279.631
|
164.642 |
|
|
Net Current Assets |
295.146
|
212.750
|
151.832 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.471 |
0.894 |
0.313 |
|
|
|
|
|
|
|
|
TOTAL |
617.348 |
333.530 |
223.019 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1627.200 |
1186.500 |
946.700 |
|
|
|
Other Income |
20.200 |
2.700 |
6.900 |
|
|
|
TOTAL (A) |
1647.400 |
1189.200 |
953.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing Expenses |
|
|
|
|
|
|
Employees Remuneration |
|
|
|
|
|
|
Increase/(Decrease) in Finished Goods |
1394.900 |
1060.300 |
880.100 |
|
|
|
Selling and Distribution Expenses |
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1394.900 |
1060.300 |
880.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
252.500 |
128.900 |
73.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
252.500 |
128.900 |
73.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.700 |
11.700 |
9.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
228.800 |
117.200 |
64.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
79.200 |
41.300 |
22.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
149.600 |
75.900 |
41.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
168.800 |
92.800 |
50.900 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
318.400 |
168.700 |
92.800 |
|
|
|
|
|
|
|
|
|
|
Total EARNINGS IN FOREIGN CURRENCY |
1183.957 |
758.762 |
585.410 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
9.976 |
31.276 |
NA |
|
|
|
Stores & Spares |
2.280 |
4.105 |
1.782 |
|
|
|
Capital Goods |
27.891 |
6.871 |
1.610 |
|
|
|
Others |
63.901 |
13.960 |
10.432 |
|
|
TOTAL IMPORTS |
104.048 |
56.212 |
13.824 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
601.57 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
9.08
|
6.38 |
4.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.06
|
9.88 |
6.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.57 |
19.16 |
16.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.67 |
0.60 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.71 |
2.15
|
2.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94 |
1.76
|
1.92 |
LOCAL AGENCY FURTHER INFORMATION
Sales and financial performance
The Company continued to maintain its position as the largest
manufacturer in India and a leading global manufacturer of Transformer
radiators. During the year under report the company achieved Net sales of
Rs.1627.200 millions, registering a growth of 37.14% over the previous year.
The company’s strategic focus on exports, widening its customer base,
entering new markets and improving its product range contributed to this
sustained growth.
During 2008-09 capacity was increased, with the setting up of a new
plant and adding of a new product capability for manufacturing Galvanized
radiators which was operationalized in February’2009.
This latter activity has opened up a new product segment, as large
international Power equipment manufactures use a mix of both pained and
galvanized radiators. With the anticipated revival of the industry, the sale is
expected to increase for the year 2009-10 and exponentially thereafter, as the
new plant progressively increase its capacity utilization.
Export and Domestic Sales Mix
Exports grew by 49%, excluding gains on account of exchange fluctuation.
Similarly in the domestic market, sales grew by an encouraging 10%.
The Chart alongside indicates the growth in Exports and Domestic sales
during the last 6 years.
In the year under report the company continued its focus on exports.
Domestic Sales increased by 10% over the previous year, despite recessionary
conditions that prevailed during the year under report. With the increase in
production capacity currently in house Hot Dig Galvanizing facility, the
company, will be able exploit the growth opportunities within the country that
would be thrown up by the aggressive investments planned in the Power sector.
Further, with the recently announced entry of international power equipment
suppliers, who have announced plans to set up manufacturing facilities in
contingent liabilities:-
|
Contingent Liabilities not Provided For |
31.03.2009 Rs. in millions |
31.03.2008 Rs. in millions |
|
|
|
|
|
Bills discounted and outstanding (PY
Rs.95.210 millions) |
163.259 |
95.209 |
|
Counter Guarantees given to the bankers
against guarantee issued by them and LC issued (PY 48.489 millions) including
FLC of the value of $ 174723.30 (PY Rs. nil) |
28.200 |
48.488 |
|
The company has extended corporate guarantee
to SBI – Peenya in respect of advances made to MPP Technologies Private
Limited. The company has also extended Equitable mortgage of land and
building in respect this advances |
256.700 |
201.500 |
fixed assets:-
· Land
· Buildings
· plant and machinery
· Furniture and fixtures
· Vehicles
form 8:-
|
Corporate
identity number of the company |
U31909KA1982PTC004963 |
|
Name of the
company |
TTP TECHNOLOGIES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
#486 ‘D’, 4th Phase, 13th Cross. Peenya
Industrial Area, Near |
|
This form is for |
Modification of
charge |
|
Type of charge |
· Immovable property |
|
Particular of charge
holder |
State bank of E-Mail: jsurya@vsnl.com |
|
Nature of
instrument creating charge |
FORM - B |
|
Date of
instrument Creating the charge |
12.03.2010 |
|
Amount secured by
the charge |
Rs. 292.600
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per schedule Terms of repayment WC : Repayable on
demand TL : Repayable as per schedule Margin CC : 25% LC & BG : 20% New TL : 27.65% Extent and operation of the charge Charge extends by
way of first charge on all the assets throughout the period of sanctioned
limits. Other NA |
|
Short particulars
of the property charged (Including location of the property) |
EM on co's
immovable properties situated at Plot No. 487 C, Peenya Industrial Estate, |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. If yes, in whose
name it is registers |
No |
|
Charge
identification number of the charge to be modified |
80017903 |
|
Date of
instrument modifying the charge |
15.04.2009 |
|
Particulars of
the present modification |
EM on co's
immovable properties situated at Plot No. 487 C, Peenya Industrial Estate, All other terms,
conditions and existing securities to continue. |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.45.25 |
|
|
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.