1. Summary Information
|
|
|
Country |
|
|
Company Name |
FAIRMATE
CHEMICALS PRIVATE LIMITED |
Principal Name 1 |
Mr. Rakesh B. Shah |
|
Status |
Moderate |
Principal Name 2 |
Mr. Umesh B. Shah |
|
|
|
Registration # |
-- |
|
Street Address |
1514, Ranchhod
Bhavan, Montivasan Sheri, Saraspur, Ahmedabad – 380 008, |
||
|
Established Date |
27.06.1995 |
SIC Code |
-- |
|
Telephone# |
91-79-22160847/
26465577 |
Business Style 1 |
Manufacturing and Marketing of Construction Chemicals. |
|
Fax # |
91-79-22122545 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Concrete admixtures |
|
# of employees |
100 |
Product Name 2 |
Waterproofing systems |
|
Paid up capital |
2,000,000 |
Product Name 3 |
Engineering grouts |
|
Shareholders |
Rakesh Shah – 80000 Umesh Shah - 27420 |
Banking |
Punjab National
Bank HDFC Bank |
|
Public Limited Corp. |
-- |
Business Period |
15 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
B
(26) |
|
Related
Company |
|||
|
Relation
-- |
Country
-- |
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
54,486,000 |
Current Liabilities |
51,858,000 |
|
Inventories |
16,018,000 |
Long-term Liabilities |
29,913,000 |
|
Fixed Assets |
14,746,000 |
Other Liabilities |
-- |
|
Deferred Assets |
103,000 |
Total Liabilities |
81,771,000 |
|
Invest& other Assets |
14,000 |
Retained Earnings |
1,596,000 |
|
|
|
Net Worth |
3,596,000 |
|
Total Assets |
85,367,000 |
Total Liab. & Equity |
85,367,000 |
|
Total Assets (Previous Year) |
61,180,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
162,869,000 |
Net Profit |
780,000 |
|
Sales(Previous yr) |
153,707,000 |
Net Profit(Prev.yr) |
289,000 |
MIRA
INFORM REPORT
|
Report Date : |
26.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
FAIRMATE CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1514, Ranchhod Bhavan, Montivasan Sheri, Saraspur, Ahmedabad – 380
008, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
27.06.1995 |
|
|
|
|
Com. Reg. No.: |
04–26528 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910GJ1995PTC026528 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AHMF00074E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF1778M |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of Construction Chemicals. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 14384 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings 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 : |
Ms. Rupali |
|
Designation : |
Accounts |
LOCATIONS
|
Registered/ Head Office : |
1514, Ranchhod Bhavan, Montivasan Sheri, Saraspur, Ahmedabad – 380
008, |
|
Tel. No.: |
91-79-22160847/ 26465577 |
|
Mobile No.: |
91-9879613009 (Mr. Himesh) |
|
Fax No.: |
91-79-22122545 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Sai Sudha, 8/1 Arunoday Society, Alkapuri, Vadodara – 390 007, |
|
Tel. No.: |
91-265-2358173-74/ 2331193 |
|
Fax No.: |
91-265-2338733 |
|
E-Mail : |
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|
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Branch Office : |
Located at:
|
|
|
|
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Overseas Office : |
Located at:
|
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Rakeshbhai Baldevbhai Shah |
|
Designation : |
Director |
|
Address : |
1474, Nani Vasan Sheri, Saraspur, Ahmedabad – 380 018, |
|
Date of Birth/Age : |
08.08.1962 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.04.1997 |
|
|
|
|
Name : |
Mr. Umeshbhai Baldevbhai Shah |
|
Designation : |
Director |
|
Address : |
1514, Monti Vasan Sheri, Saraspur, Ahmedabad – 380 018, |
|
Date of Birth/Age : |
17.03.1965 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.09.2000 |
|
|
|
|
Name : |
Mr. Bhaveshbhai Baldevbhai Shah |
|
Designation : |
Director |
|
Address : |
1514, Monti Vasan Sheri, Saraspur, Ahmedabad – 380 018, |
|
Date of Birth/Age : |
13.11.1969 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.04.1999 |
KEY EXECUTIVES
|
Name : |
Mr. Himesh |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Ms. Rupali |
|
Designation : |
Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Baldevbhai Shah |
|
10 |
|
Rakesh Shah |
|
80000 |
|
Umesh Shah |
|
27420 |
|
Baldevbhai N. Shah Rakesh B. Shah (Joint) |
|
1000 |
|
Rakesh B. Shah Jaimini R. Shah |
|
1000 |
|
Umesh B. Shah |
|
1000 |
|
Bhavesh B. Shah Swati B. Shah |
|
1000 |
|
Jaimini R. Shah Rakesh B. Shah (Joint) |
|
1000 |
|
Umesh B. Shah |
|
1000 |
|
Swati B. Shah Bhavesh B. Shah (Joint) |
|
1000 |
|
Baldevbhai N. Shah Rakesh B. Shah (Joint) Bhavesh B. Shah (Joint) |
|
1000 |
|
Ranchodbhai N. Shah Umesh B. Shah |
|
1000 |
|
Ishwarbhai J. Patel |
|
10 |
|
Abhesang P. Patel Ramesh A. Patel (Joint) Chandu A. Patel (Joint) |
|
10 |
|
Prabhuben D. Patel Laxmiben R. Patel (Joint) Gitaben V. Patel (Joint) |
|
10 |
|
Amarsang J. Patel Laxmiben R. Patel (Joint) Pramilaben A. Patel (Joint) |
|
10 |
|
Dhanjibhai B. Patel Vasant J. Patel (Joint) Royajibhai B. Patel (Joint) |
|
10 |
|
|
|
10 |
|
Shravanbhai J. Patel |
|
10 |
|
Bhavesh B. Shah |
|
80000 |
|
Ranchodbhai N. Shah |
|
3500 |
|
Total |
|
200000 |
AS ON 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Construction Chemicals. |
|
|
|
|
Products : |
v Concrete admixtures v Waterproofing systems v Engineering grouts v Industrial flooring systems v Protective coatings v Concrete repairs v Surface treatment v Pre packed concrete and mortar v Polysulphide sealants |
|
|
|
|
Exports : |
|
|
Products : |
v Chemicals |
|
Countries : |
v UAE |
|
|
|
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Imports : |
|
|
Products : |
v Raw Materials |
|
Countries : |
v v UAE v |
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Terms : |
|
|
Selling : |
L/C, Cash and Credit 30/ 60 days |
|
|
|
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Purchasing : |
L/C, Cash, Credit 30 days and Payment against document. |
GENERAL INFORMATION
|
Customers : |
End Users, OEM’s and Manufacturer v Neyvelli Lignite Corporation v Indian Petrolium Corporation Limited, Dahej v
Indian Oil Corporation Limited ( v Gas Authority of India Limited v Gujarat State Fertilizers Limited v National Hydro Power Corporation Limited v National Thermal Power Corporation Limited v
National Highway Authority of v Steel Authority of India Limited v
Nirma Limited, v Reliance Petroleum Limited |
|
|
|
|
No. of Employees : |
100 |
|
|
|
|
Bankers : |
v Punjab National
Bank, Alkapuri, Vadodara v HDFC Bank v
The Saraspur Nagarik
Co-operative Bank Limited |
|
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Banking
Relations : |
-- |
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Financial Institutions : |
|
|
|
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Auditors : |
|
|
Name : |
Jayesh Patel and Company Chartered Accountants |
|
Address : |
B – 35, Third Floor, Ajanta Commercial Complex, |
|
Tel. No.: |
91-79-27544689 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity shares |
Rs.10/- each |
Rs.2.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity shares |
Rs.10/- each |
Rs.2.000 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
2.000 |
0.770 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.596 |
0.729 |
0.362 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.596 |
2.729 |
1.132 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.138 |
4.236 |
2.768 |
|
|
2] Unsecured Loans |
24.775 |
13.412 |
7.802 |
|
|
TOTAL BORROWING |
29.913 |
17.648 |
10.570 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.019 |
|
|
|
|
|
|
|
|
TOTAL |
33.509 |
20.377 |
11.721 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
14.746 |
9.593 |
6.724 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.103 |
0.059 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.018
|
12.214
|
9.332 |
|
|
Sundry Debtors |
40.922
|
24.247
|
21.216 |
|
|
Cash & Bank Balances |
4.115
|
5.873
|
3.575 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
9.449
|
9.176
|
1.723 |
|
Total
Current Assets |
70.504
|
51.510
|
35.846 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
46.939 |
38.422 |
29.484 |
|
|
Other Current Liabilities |
3.567
|
1.554
|
0.923 |
|
|
Provisions |
1.352
|
0.827
|
0.462 |
|
Total
Current Liabilities |
51.858
|
40.803
|
30.869 |
|
|
Net Current Assets |
18.646
|
10.707
|
4.977 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.014 |
0.018 |
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
33.509 |
20.377 |
11.721 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
153.564 |
113.621 |
|
|
|
Other Income |
NA |
0.143 |
0.149 |
|
|
|
TOTAL (A) |
162.869 |
153.707 |
113.770 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Expenditure |
|
|
|
|
|
|
TOTAL (B) |
NA |
150.460 |
111.765 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
3.247 |
2.005 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
NA |
0.654 |
0.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
2.593 |
1.577 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
1.939 |
1.149 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.349 |
0.654 |
0.428 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.569 |
0.365 |
0.235 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.780 |
0.289 |
0.193 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.90 |
1.44 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.48
|
0.19
|
0.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.43
|
0.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.58
|
1.07
|
1.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.24
|
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
22.73
|
21.42
|
36.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36
|
1.26
|
1.16 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Name of the company |
FAIRMATE CHEMICALS PRIVATE LIMITED |
|
Presented By |
Director |
|
1) Date and description of instrument creating the change |
Deed of principal hypothecation dated 17th day of April 2000 between M/s. FAIRMATE CHEMICALS PRIVATE LIMITED (Therein and hereinafter called the company) of the one part and Gujarat State Financial Corporation (therein and hereinafter called ‘GSFC’) of the other part. No instrument was executed but on the 17th day of April 2000 the company created an equitable mortgage in favour of Gujarat State Financial Corporation (GSFC) by depositing title deeds and documents with GSFC, relating to company’s immovable property’s being free hold land admeasuring 22000 Sq. ft, situated at R. S. No. 129, Block No. 235, Mahuvad, Taluka Padra, District Baroda all in the state of Gujarat with intent to create a security thereon as and by way of equitable mortgage pursuant to the resolution passed by its board of directors on the 1st day of march 2000. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.3.450 millions |
|
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 |
The whole of the movable and immovable properties of the company including the company’s movable plant and machinery, spares, tools accessories, electrical installation erections, furniture, fittings, fixtures, vehicles and other movables structures, building godowns constructed or to be constructed hereafter, (save and except book debts) (therein after collectively called the said properties) short particulars whereof are given in annexure “A” and “B” hereto. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
In consideration of GSFC having agreed to land and advance to the company the said loan of Rs.3.450 millions it was agreed interalia as follows: 1. Agreement by the company to repay to GSFC the said loan of Rs.3.450 millions with in a period of 7 years by 25 quarterly installments to commence after 12 months from the date of first installment of the loan disbursed together with compound interest at the rate of 17% p.a. In case GSFC decides to make interin disbursement, this will not be constructed at sanction of financial assistance. In the absence of IDBI refinance, interim disbursement made by the GSFC, if any is liable to recalled on demand at the absolute discreation of GSFC. In case of default either on principal or interest or loan, company shall pay additional interest p.a.by way of liquidated damages for the period in default and on the amount in default. The company shall be allowed 1% rebate on gross rate of interest in case of prompt payment of interest and principal installment in due date. 2. As security for due repayment
to GSFC of all principal moneys interest and all moneys to GSFC the whole of
the movable properties of the company’s including the company’s movable plant
and machinery spares, tools, accessories, furniture, fittings, fixture,
erections vehicle and other movable (save and except book debts) and the immovable
property of the company together with structure, super structures,
constructed or to be constructed there on at 22000 Sq. ft. R S No. 129, block No. 235, Madhuvad,
Taluka Padra, District: In the state of Gujarat and to be subject to the prior charges in favour of the company’s Bankers on its stocks of raw materials, goods in process, semi finished goods and finished goods, stores not relating to plant and machinery or any spare parts thereof and other movable permitted by GSFC to secure borrowings for working capital requirements. 3. GSFC entitled to determine the amount to be advanced out of the loan or allow outstanding. 4. Certain covenant on behalf of the company, power of GSFC to inspect and include the goods and acceleration of debts in certain events, specified therein power of entry, insure super intend and/or take charge of and/or to seize, recover, receive, appoint receiver and/or take possession of all or any of the said goods, sell buy public auction or private contract the said goods, sell buy public auction or private contract the said goods in such manner as GSFC should think fit etc. 5. The company shall maintain a minimum margin of 35% with an over all margin of 35.14% on eligible security during the currency of loan. |
|
5) Name and Address and description of the person entitled to the charge. |
Block No. 10-11, Udyog Bhavan,
Sector – 11, Gandhinagar, a state financial corporation established for the
state of |
|
6) Date and brief description of instrument modifying the charge |
Not Available |
|
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. |
Not Available |
TRADE REFERENCES
v Fairmate Chemicals
FZE –
v City Polymer
Chemical Private Limited
v
v
CPS Color
v
Nirma Limited,
v
Reliance Petroleum Limited
FIXED ASSETS
v Computer and Printer
v Furniture and Fixture
v Artwork and Positive
v Lab Equipment
v Machinery
v Motor car
v Telephone Instruments
v EPABX system
v A.C. Machine
v Refrigerator
v Electrical Installation
v
v Washing Machine
v New Computer and Lap Top
v Land Purchase
v Multimedia Projector
v Eta Vibro Screen
v Fax Machine
v Pedastel Fan
v Toshiba 1560 Copier
WEBSITE DETAILS
COMPANY PROFILE:
Subject was established in 1982 by Shri.
Baldev Shah, their group chairman.
Subject has
divergent activities like manufacturing, marketing, farming and financing where
major thrust is in manufacturing and marketing of speciality chemicals for
civil engineering industry. Under the aiges of the Chairman and his
continuous involvement, the company has progressed fast towards distant
horizons with power of above 250 personnel, all poised to grow further and to
become a market leader.
Since 1982, subject
is efficiently providing value added and quality oriented services to the civil
engineering industries.
Subject is closely
integrated environment made it to venture into construction chemicals business,
and since then, it is continuously and reliably serving all its high valued
customers to their utmost satisfaction
Subject is
manufacturing a comprehensive range of products like Concrete admixtures,
Waterproofing systems, Engineering grouts, Industrial flooring systems,
Protective coatings, Concrete repairs, Surface treatment, Prepacked concrete
and mortar, Polysulphide sealants, Roadcrete varieties of product for highway
repairs. The information given about products are based on both current
development work and many years of field experience.
The marketing and
manufacturing activities which are pre-excellence have been further expanded to
various parts of
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.45.37 |
|
|
1 |
Rs.73.24 |
|
Euro |
1 |
Rs.62.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
26 |
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.