1. Summary Information
|
|
|
Country |
|
|
Company Name |
COROMANDEL PAINTS LIMITED |
Principal Name 1 |
Mr. Rama Rao
Atchuta Arumilli |
|
Status |
Moderate |
Principal Name 2 |
Mr. Satyanarayana
Arumilli |
|
|
|
Registration # |
01-1902 |
|
Street Address |
Pendurthy, |
||
|
Established Date |
03.07.1975 |
SIC Code |
-- |
|
Telephone# |
91-891-2764210 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-891-2764065 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Paints |
|
|
# of employees |
600 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
71621200 /- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate – 0.31% Directors or relatives of Directors – 37.23
% Other top fifty shareholders – 62.46% |
Banking |
Axis Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
35 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (33) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
58,246,000 |
Current Liabilities |
103,726,000 |
|
Inventories |
73,283,000 |
Long-term Liabilities |
118,448,000 |
|
Fixed Assets |
180,639,000 |
Other Liabilities |
672,000 |
|
Deferred Assets |
-- |
Total Liabilities |
222,846,000 |
|
Invest& other Assets |
859,000 |
Retained Earnings |
18,560,000 |
|
|
|
Net Worth |
90,181,000 |
|
Total Assets |
313,027,000 |
Total Liab. & Equity |
313,027,000 |
|
Total Assets (Previous Year) |
307,882,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
329,328,000 |
Net Profit |
3,481,000 |
|
Sales(Previous yr) |
327,231,000 |
Net Profit(Prev.yr) |
783,000 |
MIRA INFORM
REPORT
|
Report Date : |
31.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
COROMANDEL PAINTS
LIMITED (w.e.f. 19.05.1990) |
|
|
|
|
Formerly Known As : |
COROMANDEL PAINTS
AND CHEMICALS LIMITED |
|
|
|
|
Registered Office : |
Pendurthy, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
03.07.1975 |
|
|
|
|
Com. Reg. No.: |
01-1902 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24229AP1975PLC001902 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
VPNC00011E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACC7024R |
|
|
|
|
Legal Form : |
Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers of
Paints. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 370000 |
|
|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a part of Coromandel Group. It is a well 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 |
LOCATIONS
|
Registered Office/ Works : |
17-1, Pendurthy, |
|
Tel. No.: |
91-891-2764210/2764218/2764219 |
|
Fax No.: |
91-891-2764065 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Marketing Head
Office : |
50-94-15/2,
Santhipuram, |
|
Tel. No.: |
91-891-2754282/2754283 |
|
Fax No.: |
91-891-2551626 |
|
|
|
|
Factory 1 : |
D No: 4-49, IDA,
Gandigundam (V) Pendurthy (SO), Anandapuram(M) Tel :
91-891-2764692 Fax:
91-891-2764065 |
|
Factory 2 : |
Survey Nos 25/3,
25/4, IDA, Gandigundam (V) Pendurthy (SO), Anandapuram(M) Tel No.:
91-891-2764692 Fax:
91-891-2764065 |
|
Factory 3 : |
D No: 5-116C,
Tukkuluru (V), Nuzvid (M), Krishna District, PIN: 521 201. Tel No.:
91-8656-234085 / 95 234625/35 Fax : + 91 - 8656
-234785 |
|
|
|
|
Sales Depots : |
MIG Plot Tel. No. : 91-877-2245451/ 2246748 E-Mail: tpt@coromandelpaints.com 33-10-1, Tel. No. : 91-866-2437651/ 2432389 E-Mail: vja@coromandelpaints.com Flat # 12, Madhu Kirthi Apartments, Annanda Nagar Colony, New Bowenpally, Secunderabad - 500 009, Andhra Pradesh, India Tel. No. : 91-40-27755852/ 27953741 FAX : 91-40-27953741 E-Mail: hyd@coromandelpaints.com |
DIRECTORS
As on :
30.09.2010
|
Name : |
Mr. Rama Rao
Atchuta Arumilli |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
10.05.1934 |
|
Date of Appointment : |
12.08.1991 |
|
|
|
|
Name : |
Mr. Satyanarayana
Arumilli |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
25.11.1963 |
|
Date of Appointment : |
30.03.1993 |
|
|
|
|
Name : |
Mr. Venkata Rao
Arumilli |
|
Designation : |
Director |
|
Address : |
Nagullanka,
Gangavaram Mandal, East Godavari, |
|
Date of Birth/Age : |
12.05.1939 |
|
Date of Appointment : |
30.12.1993 |
|
|
|
|
Name : |
Mr. Subbarayudu
Nekkanti |
|
Designation : |
Director |
|
Address : |
Pandurangapuram, |
|
Date of Birth/Age : |
02.12.1969 |
|
Date of Appointment : |
30.12.1993 |
|
|
|
|
Name : |
Mr. Jasti
Karunendra Srinivasa |
|
Designation : |
Director |
|
Address : |
Plot No. 30, Road
No. 10, Dhanalakshmi Society, Mahendra hills, Secunderabad, Ranga Reddy –
500026, |
|
Date of Birth/Age : |
26.02.1966 |
|
Date of Appointment : |
01.10.2009 |
|
|
|
|
Name : |
Mr. Rama Arumilli |
|
Designation : |
Whole Time
Director |
|
Address : |
|
|
Date of Birth/Age : |
27.09.1963 |
|
Date of Appointment : |
18.05.2003 |
|
|
|
|
Name : |
Mr. Rajendra
Prasad Kodali |
|
Designation : |
Director |
|
Address : |
B-3, Sugar
Factory Colony, Chagallu, West Godavari – 534342, |
|
Date of Birth/Age : |
14.08.1948 |
|
Date of Appointment : |
10.06.2008 |
|
|
|
|
Name : |
Mr. Pramod
Arumilli |
|
Designation : |
Director |
|
Address : |
9-17-29, Himadri,
CBM Compund, |
|
Date of Birth/Age : |
16.05.1990 |
|
Date of Appointment : |
10.06.2008 |
|
|
|
MAJOR SHAREHOLDERS
As on :
30.09.2010
|
Names of
Shareholders |
|
No. of Shares |
|
Mr. AkRana Rao |
|
15630 |
|
Mr. M.Rama Rao |
|
35790 |
|
E. Satyavathi |
|
3450 |
|
E.Ramafilakam |
|
2830 |
|
Mr. Gunnam
Vixwaju |
|
1140 |
|
Mr. Y.
Safyanarayana |
|
325 |
|
Mr. Korpu
Satyanarqana |
|
1100 |
|
Mr. Masina
LeeIavatfiit |
|
6550 |
|
Mr. N.
Bhuvaneswari |
|
9855 |
|
Mr. M. Surya |
|
1250 |
|
Mr. Y.Aruna |
|
80 |
|
Mr. A.
Satyanarayana (Individual) |
|
59085 |
|
Mr. A.
Satyanarayana (HUF) |
|
40000 |
|
Mr. E. Sri Ram |
|
3250 |
|
Mr. Y. Srinivasa
Chakravathy |
|
225 |
|
Mr. Y. Rama Devi |
|
120 |
|
Mrs. C. Shruti
Prasad |
|
290 |
|
Mr. C.N. Ajay |
|
60 |
|
Mr. RCH
Satyanarayana |
|
250 |
As on :
30.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.00 |
|
Bodies corporate |
0.31 |
|
Directors or relatives of Directors |
37.23 |
|
Other top fifty shareholders |
62.46 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Paints. |
||||
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||||
|
Products : |
|
PRODUCTION STATUS
(AS ON : 31.03.2010)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Paints & Varnishes [per month] |
Ltrs. |
42000000 |
-- |
|
Liquid Paints – intended for sales |
Ltrs. |
-- |
1982773 |
|
On job works basis for third parties |
Ltrs. |
-- |
32254173 |
|
CAWD paints [intended for sales] |
Kgs. |
-- |
74145 |
|
Cement paints [intended for sales] |
Kgs. |
-- |
-- |
GENERAL
INFORMATION
|
No. of Employees : |
600
(Approximately) |
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Bankers : |
Main Branch, Dwarakanagar,
D.No.47-10-24/25,
Sai Trade Centre, Tel. No. :
91-891-2562199 / 2562200 Fax No. :
91-891-2723723 |
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Facilities : |
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Banking Relations : |
Satisfactory |
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Auditors : |
|
|
Name : |
Brahmayya and
Company Chartered
Accountants |
|
Address : |
Suhasini,
10-50-24, Siripuram, PAN No. :
AADFB8032G |
|
Tel. No.: |
91-891-2755848/2754071/2755821 |
|
Fax No.: |
91-891-258560 |
|
Grams : |
“AUDITRICIS” |
|
E-Mail : |
|
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
10% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 0.500 Million |
|
725000 |
No’s of Equity Shares |
Rs.100/- each |
Rs. 72.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.73.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
716212 |
Equity Shares |
Rs.100/-
each |
Rs.71.621
Millions |
|
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|
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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 |
71.621 |
71.621 |
71.621 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
18.560 |
11.022 |
10.239 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
90.181 |
82.643 |
81.860 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
99.397 |
131.421 |
128.720 |
|
|
2] Unsecured Loans |
19.051 |
12.945 |
3.529 |
|
|
TOTAL BORROWING |
118.448 |
144.366 |
132.249 |
|
|
DEFERRED TAX LIABILITIES |
0.672 |
2.494 |
1.268 |
|
|
|
|
|
|
|
|
TOTAL |
208.301 |
229.503 |
215.377 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
180.639 |
174.500 |
178.903 |
|
|
Capital work-in-progress |
0.859 |
12.031 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
73.283
|
62.553 |
69.600 |
|
|
Sundry Debtors |
21.013
|
17.892 |
27.793 |
|
|
Cash & Bank Balances |
4.137
|
21.426 |
4.315 |
|
|
Other Current Assets |
0.097
|
0.074 |
10.205 |
|
|
Loans & Advances |
32.999
|
19.406 |
13.942 |
|
Total
Current Assets |
131.529
|
121.351 |
125.855 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
99.073
|
76.331 |
88.987 |
|
|
Provisions |
4.653
|
2.048 |
0.394 |
|
Total
Current Liabilities |
103.726
|
78.379 |
89.381 |
|
|
Net Current Assets |
27.803
|
42.972 |
36.474 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
209.301 |
229.503 |
215.377 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
329.328 |
327.231 |
306.732 |
|
|
|
Other Income |
0.785 |
0.212 |
0.262 |
|
|
|
TOTAL (A) |
330.113 |
327.443 |
306.994 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material Consumed |
172.773 |
171.709 |
177.476 |
|
|
|
Purchase of finished goods |
1.838 |
2.986 |
4.819 |
|
|
|
Payments and Benefits to Employees |
25.299 |
29.179 |
22.966 |
|
|
|
Other Expenses |
84.287 |
74.518 |
76.659 |
|
|
|
Increase / Decrease in stock |
(0.100) |
2.758 |
(7.983) |
|
|
|
TOTAL (B) |
284.097 |
281.150 |
273.938 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
46.016 |
46.293 |
33.056 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.460 |
13.563 |
13.636 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
32.556 |
32.730 |
19.420 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.387 |
29.567 |
18.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.169 |
3.163 |
0.977 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.688 |
2.378 |
0.701 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
3.481 |
0.783 |
0.276 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
9.896 |
9.620 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
10.679 |
9.896 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value |
NA |
70.957 |
58.062 |
|
|
TOTAL IMPORTS |
NA |
70.957 |
58.062 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.86 |
1.09 |
0.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.05
|
0.23 |
0.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.26
|
0.96 |
0.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.33
|
1.06 |
0.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.03 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.46
|
2.69 |
2.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.54 |
1.40 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL PERFORMANCE :
The company achieved
1.70% growth in sales and processing income by improving income through
contract manufacturer activity even their sales were not improved much in
09-10. The company posted net profit after tax of Rs. 3.481 millions which is
five times more than previous year profit after tax.
Form : 8
|
Name of the company |
COROMANDEL PAINTS & CHEMICALS LIMITED |
|
Presented By |
Sri. A. A. Rama Rao, Managing Director |
|
1) Date and description of instrument creating the change |
1. Hypothecation movable machinery dt. 01.01.2003 [I F D – 2] 2. Hypothecation of fixed assets dt. 01.01.2003 [L – 448 A] |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.910 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 term loan is secured by hypothecation of all movable machinery & buildings containing tanks and other machinery erected / installed at the company’s premises at Pendurthy, Visakhapatnam District |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest : 4% over BOI P.L.R. Minimum 16% p.a. Margin : 25% Repayment : Repayable in 20 quarterly instalments of Rs. 0.095 million each commencing from one year from the date of disbursement |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of Main Branch, Dwarakanagar, |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
|
Corporate
identity number of the company |
U24229AP1975PLC001902 |
|
Name of the
company |
COROMANDEL PAINTS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Pendurthy, Andhra Pradesh –
531173, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Axis Bank
Limited, D.No.47-10-24/25, Sai Trade Centre, 2nd Lane, Dwarakanagar,
Visakhapatnam – 530016, Andhra Pradesh, India |
|
Nature of
instrument creating charge |
1. Term Loan
Agreement. (2 no's) 2. Link document
for earmarking of limit and Interchangeability.(2 no's) |
|
Date of
instrument Creating the charge |
02/08/2010 |
|
Amount secured by
the charge |
Rs. 40.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : Base Rate + 3.25%
i.e 10.75% p.a Terms of repayment : Term Loan -I:
Repayable in 24 monthly installments consisting of first 23 monthly
installments of Rs.0.667 millions starting
from 31.08.2010 and 24th installments of Rs.0.308 millions Margin : As per Bank
rules. Extent and operation of the charge : It is a
continuous Charge until the repayment of the entire loan. Other : Nil |
|
Short particulars
of the property charged (Including location of the property) |
1. The aggregate
limit of Rs.67.720 millions consists
of : Rupee Term
Loan-I: Rs.15.649 millions Rupee Term
Loan-I: Rs.23.070 millions CC Limit:
Rs.25.000 millions BG Limit:
Rs.4.000 millions 2. Existing Security for the all term loans
will continue to hold for rolled back Term Loan facility as well 3. There is no
change in the limits sanctioned. Through this modification the existing
Foreign Currency term Loans have been
rolled back into Indian rupee Term Loan |
FIXED ASSETS :
- Land
- Buildings
- Plant and
Machinery
- Trade Marks
- Furniture and
Fixtures
- Vehicles
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. 44.77 |
|
|
1 |
Rs. 71.69 |
|
Euro |
1 |
Rs. 63.02 |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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.