MIRA
INFORM REPORT
|
Report Date : |
02.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
LUBI SUBMERSIBLES LIMITED |
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Formerly Known As : |
ANMIL TRADING AND MANUFACTURING PRIVATE LIMITED |
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Registered Office : |
Near Kalyan Mills, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
16.05.1979 |
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Com. Reg. No.: |
04-003389 |
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Capital
Investment/ Paid-up Capital: |
Rs. 5.400
Millions |
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CIN No.: [Company
Identification No.] |
U29199GJ1979PLC003389 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHML00090G |
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PAN No.: [Permanent
Account No.] |
AAACL2565N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Pumps and Motors |
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No. of Employees: |
3000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (53) |
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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 1600000 |
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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 company having fine track records.
Financial position of the company appears to be sound. Trade relations are reported
as fair. Business is active. Payments are reported to be correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Manoj |
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Designation : |
Accountant |
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Contact No.: |
91-79-30610100 |
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Date : |
01.06.2011 |
LOCATIONS
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Registered Office/ Factory 1: |
Near Kalyan Mills, |
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Tel. No.: |
91-79-22204711 upto 22204718/ 30610100 |
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Fax No.: |
91-79-22200660/ 30610300 |
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E-Mail : |
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Website : |
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Location : |
1000 (Owned) |
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Factory 2 : |
B-1, |
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Location : |
Owned |
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Branches : |
Located at Ahmednagar, |
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Distributor
Network: |
Located at: ·
Andhra Pradesh ·
Haryana ·
·
·
Karnataka ·
Rajasthan ·
Chattisgarh ·
Kerala ·
Uttar Pradesh ·
·
Madhya Pradesh ·
·
·
Uttaranchal ·
Orissa ·
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DIRECTORS
As On 15.09.2010
|
Name : |
Mr. Jagdishchandra Rambhai Amin |
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Designation : |
Director |
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Address : |
Ram Home, Gulbai Tekra, Ellisbridge, Ahmedabad- 380006, |
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Date of Birth/Age : |
28.12.1933 |
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Date of Appointment : |
31.08.1989 |
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DIN No.: |
00221250 |
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Name : |
Mr. Subhashchandra Rambhai Amin |
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Designation : |
Director |
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Address : |
Ram Home, Gulbai Tekra, Ellisbridge, Ahmedabad- 380006, |
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Date of Birth/Age : |
06.02.1947 |
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Date of Appointment : |
01.07.1981 |
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DIN No.: |
00221530 |
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Name : |
Mr. Jayamalbhai Jagdishchandra Amin |
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Designation : |
Director |
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Address : |
Ram Home, Gulbai Tekra, Ellisbridge, Ahmedabad- 380006, |
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Date of Birth/Age : |
27.04.1962 |
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Date of Appointment : |
03.04.1995 |
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DIN No.: |
00221356 |
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Name : |
Mr. Shailesh Dollarrai Porecha |
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Designation : |
Director |
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Address : |
Navdeep, Udyan Marg, Ellisbridge, Ahmedabad- 380006, |
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Date of Birth/Age : |
27.04.1956 |
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Date of Appointment : |
24.06.1994 |
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DIN No.: |
00221569 |
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Name : |
Mr. Rajan Nalinkant Porecha |
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Designation : |
Director |
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Address : |
238, Urmikung Society, Navrangpura, Ellisbridge, Ahmedabad- 380006, |
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Date of Birth/Age : |
13.09.1961 |
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Date of Appointment : |
01.07.1993 |
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DIN No.: |
00221498 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 15.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Bakulaben Jagdishchandra Amin |
|
2699 |
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Jaymal Jagdishchandra Amin |
|
2701 |
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Tejalben Tusharbhai Patel |
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2701 |
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Master Rohan Jaymalbhai Amin |
|
897 |
|
Mira Finstock Private Limited, Ahmedabad, |
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2726 |
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Rameshchandra Rambhal Amin |
|
874 |
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Shetal Samir Patel |
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2701 |
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Shrujal Sachin Patel |
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2699 |
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Subhashchandra Rambhal Amin |
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2674 |
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Achalaben Subhashchandra Amin |
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930 |
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Nirali Subhashchandra Amin |
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2699 |
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Vishal Subhashchandra Amin |
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2699 |
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Ushaben Dollarrai Porecha |
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2428 |
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Aartiben Shailendrabhai Porecha |
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7023 |
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Geetaben Narendrabhai Parekh |
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2701 |
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Eelaben Mehulbhai Sheth |
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2699 |
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Indumatiben Nalinkant Porecha |
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2699 |
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Rajan Nalinkant Porecha |
|
4923 |
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Shailee Rajan Porecha |
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300 |
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Atul Shantilal Adalia |
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26 |
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Manjari Rajan Porecha |
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3900 |
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Ronak Rajan Porecha |
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301 |
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Total |
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54000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
5.05 |
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Directors or relatives of Directors |
94.95 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pumps and Motors |
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Products : |
v
Submersible Borewell Pumps and Motors from 4” to
10” upto 250 HP. v
Monoblock for Industrial and Agricultural
Applications v
Pumps for Household/ Domestic Pumps v
Waste Water/ Drainage Pumps v
Pimps and Motors as per Specifications v
Casting as per Drawings. v
Foundry: 1.
Haunter Automated Molding Line 2.
Statomat Automated Motor Winding 3.
CNC Machining 4.
ITW- Singnode Automated Conveyerized Packaging 5.
Buhler Aluminium Die- casting 6.
Automated Product Testing |
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Brand Names : |
Lubi |
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Exports : |
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Products : |
Pumps and Motors |
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Countries : |
v
v
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PRODUCTION STATUS [As on 31.03.2010]
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Pumps and Motors |
Nos. |
|
78000 |
60696 |
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Particulars |
Unit |
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|
Actual
Production |
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Pump Sets |
Nos. |
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|
51401 |
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Pump Only |
Nos. |
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|
4297 |
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Sub Motor only |
Nos. |
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|
4996 |
GENERAL INFORMATION
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Customers : |
As
per 31.03.2009 v
Leading Government Water Supply Boards v
Cooperative Farming Societies v
Leading Industrial Corporations v
Global Distributors and Dealers v
Nirma v
IFFCO v
Reliance v
Indian Oil v
Western Railways v
Jindal v
Lupin Agrochemicals v
Ranbaxy v
Zydus Cadila v
Indian Rayon |
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No. of Employees : |
3000 (Approximately) |
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Bankers : |
Bank of |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jhaveri Shah and Company Chartered Accountant |
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Address : |
503, |
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Tel. No.: |
91-79-26422767/ 30022776 |
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Fax No.: |
91-79-30022677 |
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E-Mail : |
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Associates: |
v
Lubi Electricals Limited v
Star Enterprises v
Lubi Electricals v
Lubi Pumps Limited v
Mira Industries v
Mira Fionstock Private Limited v
Arvind Electropumps v
Lubi Pumps FZE |
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Wholly Owned Subsidiaries : |
v
Paras Textile Mills Private Limited
U65910GJ1975PTC002674 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000 |
Equity Shares |
Rs.100/- Each |
Rs.7.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
54000 |
Equity Shares |
Rs.100/-
Each |
Rs. 5.400
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
5.400 |
6.750 |
6.750 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
401.332 |
297.030 |
231.328 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
406.732 |
303.780 |
238.078 |
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LOAN FUNDS |
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1] Secured Loans |
20.453 |
0.536 |
49.538 |
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2] Unsecured Loans |
71.449 |
68.141 |
54.498 |
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TOTAL BORROWING |
91.902 |
68.677 |
104.036 |
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DEFERRED TAX LIABILITIES |
0.000 |
1.694 |
0.000 |
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|
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TOTAL |
498.634 |
374.151 |
342.114 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
155.757 |
141.662 |
116.778 |
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Capital work-in-progress |
3.759 |
0.592 |
0.000 |
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INVESTMENT |
6.200 |
6.200 |
6.200 |
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DEFERREX TAX ASSETS |
1.504 |
0.000 |
1.255 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
300.548
|
172.748
|
183.346
|
|
|
Sundry Debtors |
172.328
|
93.658
|
72.924
|
|
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Cash & Bank Balances |
103.472
|
73.335
|
81.132
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
217.909
|
134.346
|
192.385
|
|
Total
Current Assets |
794.257
|
474.087
|
529.788
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
317.399 |
162.965
|
216.518
|
|
|
Other Current Liabilities |
25.096
|
20.253
|
16.933
|
|
|
Provisions |
120.348
|
65.172
|
78.456
|
|
Total
Current Liabilities |
462.843
|
248.390
|
311.907
|
|
|
Net Current Assets |
331.414
|
225.697
|
217.880
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
498.634 |
374.151 |
342.114 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1521.095 |
972.233 |
691.587 |
|
|
|
Other Income |
35.524 |
31.946 |
22.767 |
|
|
|
TOTAL (A) |
1556.619 |
1004.179 |
714.354 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Material and stores and
spares parts |
1035.776 |
699.859 |
534.883 |
|
|
|
Manufacturing Expenses |
44.392 |
21.450 |
18.649 |
|
|
|
Purchases made for re-sale |
88.246 |
36.952 |
14.425 |
|
|
|
Payment to and Provision for Employees |
60.704 |
45.938 |
38.731 |
|
|
|
Administrative, Selling and General Expenses |
95.810 |
60.677 |
38.084 |
|
|
|
Loss on |
0.000 |
0.030 |
0.009 |
|
|
|
Increase/ Decrease in Stock |
[39.330] |
0.274 |
(23.599) |
|
|
|
TOTAL (B) |
1285.598 |
865.18 |
621.182 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
271.021 |
138.999 |
93.172 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.052 |
11.877 |
9.823 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
256.969 |
127.122 |
83.349 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.528 |
22.278 |
11.968 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
228.441 |
104.844 |
71.381 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
77.052 |
38.605 |
33.315 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
151.389 |
66.239 |
38.066 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
276.359 |
212.657 |
176.366 |
|
|
|
Excess
Provision fro Bonus |
0.075 |
0.063 |
-- |
|
|
|
Excess
Provision for Income Tax and FBT |
0.214 |
0.187 |
-- |
|
|
|
Excess
provision fro Wealth Tax |
0.000 |
0.003 |
-- |
|
|
Less |
Prior
period Adjustment |
0.103 |
-- |
0.005 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
15.500 |
2.000 |
1.000 |
|
|
|
Proposed Dividend |
1.350 |
0.675 |
0.675 |
|
|
|
Tax on Dividend |
0.229 |
0.115 |
0.096 |
|
|
|
Transfer to Capital Redemption Reserve |
1.350 |
0.000 |
0.000 |
|
|
|
Premium on Buy Back |
45.900 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
363.811 |
276.359 |
212.656 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
264.403 |
186.508 |
65.288 |
|
|
TOTAL EARNINGS |
264.403 |
186.508 |
65.288 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
66.637 |
22.948 |
0.000 |
|
|
|
Stores & Spares |
1.690 |
0.562 |
0.988 |
|
|
TOTAL IMPORTS |
68.327 |
23.510 |
0.988 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2803.50 |
981.323 |
563.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.73
|
6.60
|
5.16
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.02
|
10.78
|
10.32
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.05
|
17.03
|
21.33
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.56
|
0.35
|
0.30
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.36
|
1.04
|
1.75
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.91
|
1.70
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
For Goods |
305.727 |
157.086 |
212.810 |
|
For Expenses |
11.672 |
5.879 |
3.708 |
|
Total |
317.399 |
162.965 |
216.518 |
Financial Results:
The company has earned profit after tax of Rs. 151.389 Millions and the
same have been carried to the Balance Sheet after declaring dividend of 25% and
transferring profit to General Reserve.
Public Deposit:
The company has not accepted any deposit from the Public within the meaning of Section 58A of the Companies Act, 1956 and the rules made
there under.
Contingent
Liabilities not provided for in respect of:
i)
Disputed liabilities towards Income Tax demand of
Rs. 0.075 Million (Previous year Rs. 0.075 Million) for various assessment year
with assessing officer/ appellate authorities.
ii)
Custom duty liabilities which may arise, if
obligations for export is not fulfilled on import of raw materials and capital
goods against Advance Licensed Rs. 4.243 Millions
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29199GJ1979PLC003389 |
|
Name of the
company |
LUBI SUBMERSIBLES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Near Kalyan Mills, |
|
This form is for |
Modification of
Charge |
|
Charge identification
number of the charge to be modified |
90102734 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
Bank of |
|
Nature of instrument
creating charge |
Instrument of
Extension relating to deposit of Title Deeds |
|
Date of
instrument Creating the charge |
18.08.2009 |
|
Amount secured by
the charge |
Rs. 60.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest @ 0.50% above
BPLR i.e., 12.50% p.a. at present payable with monthly rests Terms of
Repayment 12 Months subject
to yearly review Margin 25% on Stock 35% on Work in
Progress 30% on Finished
Goods 50% on Book Debts 10% in the form
of Fixed Deposit under Ban’s lien 100% for disputed
financial guarantee Extent and
Operation of the charge To cover due
repayment, discharge and redemption of secured facility agreegating to Rs.
60.000 Millions together with interest under loan agreement on terms and
conditions amended from Time to time. |
|
Short particulars
of the property charged |
v
Mortgage
of Immovable Properties by way of Deposit of Title Deeds of the Company situated
at Near
Kalyan Mills, v
Situated at Village Asarwa, taluka city of
registration district Ahmedabad and sub district Ahmedabad. |
|
Date of
instrument modifying the charge |
15.06.2007 |
|
Particulars of
the present modification |
Total Additional
credit facility of Rs. 30.000 Millions making aggregate enhanced credit
facility of Rs. 60.000 Millions comprising of cash credit- stock cum book
debt cum inland bill purchase cum inland/ foreign letter of credit DP/ DA
(Usance 90 Days) of Rs. 45.000 Millions and inland/ foreign guarantee of Rs.
15.000 Millions. |
|
Name of the
company |
LUBI SUBMERSIBLES LIMITED |
|
Presented By |
Director |
|
1) Date and description of instrument creating the change |
A mortgage by
Deposit of Title deeds dated 31.03.1992 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 7.231
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 |
All the piece and
parcel of Part of final
Plot No. 68 of TPS No .XXX adm 5478 Sq. meters. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of
Interest: As may be
determined by the Bank. |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of |
|
6) Date and brief description of instrument modifying the charge |
Supple.
Memorandum of Entry dated 05.03.2001 |
|
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. |
Mortgage raised
to Rs. 15.221 Millions |
Fixed Assets:
v Land and Building
o
Land- Vadsar
o
o
o
Boring
o
Water Tank
o
Boundary Wall
o
Road
v Plant and Machineries
o
Machineries
o
Electrical Generator
o
Testing Equipments
o
Tools and Equipments
o
Electrical Installation
o
Office Machine and
Equipments
o
Trolly and Carriers
o
Dies and Pattern
o
Air Conditioners
o
Vehicles
o
Computer Machine
o
Computer Software
o
Mobile Telephone
o
Telecom Machine
o
o
Electrical Fittings
o
Electric Transformer
v Furniture and Dead Stock
Website Details:
Milestones
1966
A
small foundry to manufacture Cast iron castings was established.
1967
Introduced
range of engine driven pumps under the brand name of Rainbow.
1972
Exports
of castings and builders hardware to
1976
Introduced
range of close-coupled electric pumps and electric motors under the brand name
of Lubi.
1984
Introduced
a range of submersible pumps for 6" and 8" Borewell.
1990
Introduced
a complete range of small household single-phase peripheral centrifugal pumps.
1990
Introduced
a complete range of submersible monoset pumps.
1992
First
company in
1992
Introduced
a range of submersible pumps for 10" borewell.
1998
Introduced
a complete range of Dewatering (Polder) pumps.
1998
Lubi Submersibles
Limited. was awarded ISO 9002 certification by TUV,
2000
Lubi
Electricals Limited., Mira Industries and Lubi Foundry were awarded ISO 9002
certification and Lubi Submersibles was awarded ISO 9001 certification by TUV,
2002
Lubi
Submersibles Limited, Lubi Electrical Limited. and Mira Industries was awarded
by ISO 9001: 2000 by TUV,
2006
Introduced
4", 6" Stainless steel fabricated pumps.
2008
Introduce a complete range of Horizontal split case pumps
2009
Introduced a complete range of Drainage and sewage pumps
2010
Introduced a complete range of vertical Multistage Pumps
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] 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.44.59 |
|
|
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.64.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
This score serves as a reference to assess 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.