MIRA
INFORM REPORT
|
Report Date : |
16.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
POLYCAB WIRES PRIVATE LIMITED (w.e.f. 15.06.2001) |
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Formerly Known
As : |
POLYCAB WIRES LIMITED |
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Registered
Office : |
HICO House, 1st Floor, 771, Pandit Satwalekar
Marg, Mahim (West), Mumbai - 400016, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
10.01.1996 |
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Com. Reg. No.: |
11-096105 |
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Capital
Investment / Paid-up Capital : |
Rs.655.738 millions |
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CIN No.: [Company Identification
No.] |
U31300MH1996PTC096105 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15167F |
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PAN No.: [Permanent Account No.] |
AAACP6474E |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of LT PVC / XLPE Power,
Control, Instrumentation Cables, Flexible, House Wires, ACSR, AAAC, Ariel
Bunched wires. |
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|
|
|
No. of Employees : |
2625
(Approximately) (Office – 125, Factory – 2300 and Branch – 200) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 35000000 |
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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 a reputed company having
satisfactory track. Financial position of the company appears to be sound.
Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealing at usual
trade terms and conditions. Latest Profit and Loss of the company is not available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Vilas Ganavane |
|
Designation : |
Finance Head |
|
Date : |
15.07.2011 |
LOCATIONS
|
Registered/ Head Office : |
1st Floor, HICO House, 771, Pandit Satwalekar
Marg, Mahim (West), Mumbai – 400 016, |
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Tel. No.: |
91-22-24327070/ 74/ 75/ 24329118/ 24362199 |
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Fax No.: |
91-22-24327075/ 24322141 |
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E-Mail : |
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Website : |
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Area : |
4 Floors |
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Location : |
Owned |
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Factory 1 : |
74/7-8, Daman Industrial Estate, Village Kadaia, Daman –
396210, |
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Tel. No.: |
91-260-2220422/ 425/ 428/ 257104/ 6/ 7/ 2257115/ 3091031/ 70 |
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Fax No.: |
91-260-2221009/ 2257109 |
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E-Mail : |
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Location : |
Owned |
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Factory 2 : |
Plot No.74/ 7-11,
Daman Industrial Estate, Airport Dalwade Road, Village Kadaia, Daman –
396210, Union Territory |
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Tel. No.: |
91-260-3291031/ 3291070/ 2220422/ 25/ 28 |
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Fax No.: |
91-260-2221009 |
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E-Mail : |
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Branch Office 1 : |
R-898, New Rajendra Nagar, Ground Floor, |
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Tel. No.: |
91-11-25842338/25842340/25773194/25773198 |
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Fax No.: |
91-11-25842338 |
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E-Mail : |
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Branch Office 2: |
51, |
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Tel. No.: |
91-80-22263703/22263467 |
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Fax No.: |
91-88-22263703 |
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Branch Office 3: |
L-2, Palladium, |
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Tel. No.: |
91-484-2337341 |
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Fax No.: |
91-484-2337341 |
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Branch Office 4: |
258, |
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Tel. No.: |
91-44-26443100/26600680 |
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E-Mail : |
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Branch Office 5: |
Rishi Agencies, 7-1-869, 1st Floor, Secunderabad
– 500 003, |
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Tel. No.: |
91-40-27704815/ 16/ 17/ 27703917 |
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Fax No.: |
91-40-27704818 |
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E-Mail : |
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Branch Office 6: |
Hari Bhakti Extension, |
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Tel. No.: |
91-265-2310077 |
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Fax No.: |
91-265-2336862 |
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E-Mail : |
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Branch Office 7: |
3B, Sangam Project, Off Indian Airlines Office, Near R T O, Dr. Ambedkar Road, Pune - 411901, Maharashtra, India |
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Tel. No.: |
91-20-26058277 |
DIRECTORS
(AS ON 29.09.2010)
|
Name : |
Mr. Inder Thakurdas Jaisinghani |
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Designation : |
Chairman Cum Managing Director |
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Address : |
17/6, |
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Date of Birth/Age : |
29.03.1952 |
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Date of Appointment : |
20.12.1997 |
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DIN No.: |
00309108 |
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Name : |
Mr. Ramesh Thakurdas Jaisinghani |
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Designation : |
Whole Time Director |
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Address : |
701/2, |
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Experience : |
07.05.1956 |
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Date of Appointment : |
10.01.1996 |
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DIN No.: |
00309314 |
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Name : |
Mr. Ajay Thakurdas Jaisinghani |
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Designation : |
Whole Time Director |
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Address : |
17/6, Khaira, Bhavan, |
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Date of Birth/Age : |
12.01.1954 |
|
Date of Appointment : |
27.04.2006 |
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DIN No.: |
00276588 |
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|
|
|
Name : |
Mr. Ravansamudram Subramanian Vaidyananthan |
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Designation : |
Whole Time Director |
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Address : |
Room No. 1, 2nd Floor, Arun Sion CHS, Plot No. 280, Sion
(East), Mumbai-400022, |
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Date of Birth/Age : |
20.12.1950 |
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Date of Appointment : |
01.03.2007 |
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DIN No.: |
01403676 |
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|
|
|
Name : |
Mr. Lemaire Claude Michel |
|
Designation : |
Director |
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Address : |
64, Rue De Bellechasse, Paris – 75007 |
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Date of Birth/Age : |
21.12.1946 |
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Date of Appointment : |
29.09.2010 |
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Email : |
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DIN No.: |
02879461 |
KEY EXECUTIVES
|
Name : |
Mr. Vilas Pandurang Unavane |
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Designation : |
Company Secretary |
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Date of Appointment : |
26.08.2008 |
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PAN No.: |
AAAPU2413P |
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|
|
Name : |
Mr. Omprakash Pandey |
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Designation : |
Accounts Department |
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|
Name : |
Mr. Vilas Ganavane |
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Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Inder T. Jaisinghani |
|
2860520 |
|
Ramesh T. Jaisinghani |
|
1431120 |
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Ajay T Jaisinghani |
|
238000 |
|
Raju G. Jaisinghani |
|
2404800 |
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(AS ON 29.09.2010)
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Category |
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Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
8.50 |
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Directors or relatives of directors |
|
91.50 |
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|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of LT PVC / XLPE
Power, Control, Instrumentation Cables, Flexible, House Wires, ACSR, AAAC,
Ariel Bunched wires. |
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Products : |
· House wires · Flexible cables · LT 1100 volt grade cables · Instrumentation cables · Railway Signalling cables approved by R.D.S.O. and Rites · LT 1100 Volt Grade Rubber Cables · Fire Survival cables · Zero Halogen (Halogen) Free cables · Structure cables · Telephone cables · PVC Compound
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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|
Electricals Cables and Wires |
KM |
NA |
856,000 |
844,643 |
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GENERAL INFORMATION
|
Customers : |
OEM’s and Distributors
v ACC Babcock Limited v Aditya Cement Limited v Advani Oerlikon Limited v AE Company Limited v Aluminium Industries Limited v Amit Spinning Industries Limited v Andrew Yule and Company Limited v Apollo Tyres Limited v Ashima Spin Fab Limited v Asian Electronics Limited v Atic Industries Limited v Atul Products Limited v Best and Crompton India Limited v Bhadrachalam Paper Boards Limited v Bhilai Steel Plant v Birla Cellulosic Limited v Birla Copper Limited v Birla Jute and Veatch India Private Limited v Blue Star Limited v Bokaro v Bokaro Steel Plant v Boots v Buckau Wolf v Bharat Heavy Electricals Limited v BSES Limited v Bajaj Auto Limited v Bajaj Electricals Limited v Ballarpur Industries Limited v BASF ( v Batliboi Limited v Bayers v Bechtel International Limited v Bennet Coleman and Company Limited v Bermaco Energy Systems Limited v City Development Corporation (CIDCO) v CMS Computers Limited v v v Crompton and Greaves Limited v Cadbury v Caprihans v Century Denim Limited v Century Enka Limited v Chemox Chemicals Limited v Ciba CKD Biochem Limited v Dhabhol Power Company v Damodhar Tech International v Datar Switchgear Limited v Deepak Fertilisers Limited v Deepharma Limited |
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No. of Employees : |
2625
(Approximately) (Office – 125, Factory – 2300 and Branch – 200) |
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Bankers : |
§
IDBI Bank Limited §
Punjab
National Bank ILACO House, Sir
P.M. Road Fort, Mumbai – 400001, |
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Facilities : |
Details of
Security:- All the above loans are secured by pari passu first charge
by way of hypothecation of all present and future current and fixed assets of
the Company except for
specific assets as identified below. The above loans are further secured by equitable mortgage of Company's staff quarters,
godown premises, factory, land and building situated at Included in the above, are Foreign Currencies Loans
aggregating to Rs.1286.400 Millions (Rs.480.800 Millions) and Cash Credit of
Rs.1653.000 Millions (1984.800 Millions) are additionally secured by first
charge on Office building of the Company at Mumbai and Corporate Guarantee
given by Jaisingh Wires Private Limited.
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kailash Chand Jain and Company Chartered Accountants |
|
Address : |
EDENA, 1st floor, |
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PAN No.: |
AAAFK3998D |
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|
|
Name : |
S. R. Batliboi and Company Chartered Accountant |
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Address : |
Jalan Mills Compound, 95 Ganpatrao Kadam Marg, Loer Parel, Mumbai –
400013, |
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Tel. No.: |
91-22-40356300 |
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Fax No.: |
91-22-40356400 |
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Joint Ventures : |
·
Nexans Polycab Private Limited |
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Associates/Subsidiaries : |
· Jaisingh Wires Private Limited, Mumbai CIN No.: U31300MH1995PTC094751 Line of Business: Manufacturer, Exporter and Importer of
Cables and Wires · Polycab Cables Private Limited, Mumbai CIN No.: U31300MH1996PTC099083 Line of Business: Manufacturer, Exporter and Importer of Cables and Wires · Polycab Industries Private Limited CIN No.: U31300MH1998PTC114308 · Polycab Industries Daman Private Limited CIN No.: U74999MH2008PTC188260 · BNK Plastic Industries Private Limited CIN No.: U25200MH2008PTC187875 · Polycab Cables Industries Private Limited CIN No.: U74999MH2008PTC187471 · Polycab Wires Industries Private Limited CIN No.: U31401MH2007PTC175153
· Ploycab Wires and Cables Private Limited CIN No.: U31300MH2005PTC154740 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
Rs.10/- each |
Rs.800.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65573770 |
Equity Shares |
Rs.10/- each |
Rs.655.738 millions |
|
|
|
|
|
NOTES:
Equity Shares issued, subscribed and paid –up Includes Following Bonus
Issues:
A] 2,500,000 equity shares of Rs.10/- each fully paid up were issued as bonus shares by way of capitalisation of
accumulated profits to shareholders in the ratio of one equity share for every
share held as on December 24, 1999.
B] 25,000,000
equity shares of Rs.10/- each fully paid up were issued as bonus shares by way of capitaliiation of
accumulated profits and General Reserve in the ratio of five Equity Shares for every one
equity share held as on
March 01, 2006.
C] 30,000,000 Equity shares of Rs.10/- each fully paid up
have been issued as bonus shares during the year by way of capitalisation of
accumulated profits and general reserve in the ratio of one equity shares for
every equity shares held as on March 23, 2007.
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 |
655.738 |
600.000 |
600.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8205.618 |
4919.367 |
4341.420 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8861.356 |
5519.367 |
4941.420 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8573.659 |
4355.996 |
3771.091 |
|
|
2] Unsecured Loans |
2443.120 |
460.349 |
1239.610 |
|
|
TOTAL BORROWING |
11016.779 |
4816.345 |
5010.701 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
36.678 |
19.680 |
|
|
|
|
|
|
|
|
TOTAL |
19878.135 |
10372.390 |
9971.801 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2891.307 |
1191.938 |
721.105 |
|
|
Capital work-in-progress |
1289.384 |
930.376 |
324.237 |
|
|
|
|
|
|
|
|
INVESTMENT |
214.647 |
214.647 |
380.411 |
|
|
DEFERREX TAX ASSETS |
31.358 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8335.472
|
3233.441
|
3598.863 |
|
|
Sundry Debtors |
8091.073
|
6344.046
|
6151.501 |
|
|
Cash & Bank Balances |
279.962
|
253.304
|
165.095 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
2316.275
|
2767.065
|
2504.252 |
|
Total
Current Assets |
19022.782
|
12597.856 |
12419.711 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
2115.680
|
1913.766 |
|
|
Other Current Liabilities |
|
674.356
|
412.525 |
|
|
Provisions |
186.399
|
1772.391
|
1547.372 |
|
Total
Current Liabilities |
3571.343
|
4562.427
|
3873.663 |
|
|
Net Current Assets |
15451.439
|
8035.429
|
8546.048 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19878.135 |
10372.390 |
9971.801 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
22398.338 |
21361.867 |
|
|
|
Other Income |
|
42.677 |
76.235 |
|
|
|
TOTAL (A) |
|
22441.015 |
21438.102 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods Consumed |
|
18386.109 |
16456.658 |
|
|
|
Manufacturing Expenses |
|
1694.499 |
1627.635 |
|
|
|
Administrative And Other Expenses |
|
413.028 |
460.516 |
|
|
|
Employees Remuneration and benefits |
|
173.062 |
121.326 |
|
|
|
TOTAL (B) |
|
20666.698 |
18666.135 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
1774.317 |
2771.967 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
737.165 |
393.286 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
1037.152 |
2378.681 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
55.478 |
38.376 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
981.674 |
2340.305 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
333.531 |
803.656 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
648.143 |
1536.649 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
3843.706 |
2682.549 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
0.000 |
200.000 |
|
|
|
Proposed Dividend |
|
60.000 |
150.000 |
|
|
|
Corporate Dividend Tax |
|
10.197 |
25.492 |
|
|
BALANCE CARRIED
TO THE B/S |
|
4421.652 |
3843.706 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
524.879 |
769.683 |
438.555 |
|
|
TOTAL EARNINGS |
524.879 |
769.683 |
1208.238 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6234.531 |
1889.252 |
1792.765 |
|
|
|
Stores & Spares |
7.606 |
3.547 |
3.050 |
|
|
|
Capital Goods |
440.450 |
123.861 |
10.941 |
|
|
TOTAL IMPORTS |
6682.587 |
2016.660 |
1806.756 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.76 |
10.80 |
25.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
2.89
|
7.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
4.38
|
10.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
7.12
|
0.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.18
|
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.65
|
1.70
|
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.33
|
2.76
|
3.20 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
in Millions)
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
NA |
2115.680
|
1913.766 |
|
|
|
|
|
FORM 8:
|
Corporate
identity number of the company |
U31300MH1996PTC096105 |
|
Name of the
company |
POLYCAB WIRES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
HICO House, 1st Floor, 771, Pandit Satwalekar
Marg, Mahim (West), Mumbai - 400 016, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable
Property |
|
Particular of
charge holder |
Punjab National
Bank ILACO House, Sir
P.M. Road Fort, Mumbai – 400001, |
|
Nature of
description of the instrument creating or modifying the charge |
1) Hypothecation
of Goods and Book debts to secure Cash Credit Facilities 2) Master
Agreement for Inland Documentary Credit 3) General
Counter Indemnity |
|
Date of
instrument Creating the charge |
19.07.2010 |
|
Amount secured by
the charge |
Rs.5000.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 3.50% over
prevailing Base rate (herein after referred to as 'the Reference Rate') plus
applicable interest tax (if any) per annum with monthly rests. Terms of Repayment
On demand and as
per the Sanction Letter of the Charge holder as amended from time to time. Margin as per the terms
of sanction Extent and
Operation of the charge 1) Hypothecation of all the current assets of
the company on parri passue basis with other working capital lenders under
multiple/consortium arrangement. 2) Hypothecation of movable assets forming
part of fixed /block assets on parri passue basis with other working capital
lenders under multiple/consortium arrangement. |
FIXED ASSETS:
· Freehold land
· Lease hold Land
· Buildings
· Plant and machinery
· Electrical installation
· Vehicles
· Furniture ,fixtures and office equipments
· Motor Car
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. 44.52 |
|
|
1 |
Rs. 71.90 |
|
Euro |
1 |
Rs. 62.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
57 |
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.