1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SABIC INNOVATIVE
PLASTICS (INDIA) PRIVATE LIMITED |
Principal Name 1 |
Mr. Venugopal K. Koka |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Chetan Pravinchandra Soni |
|
|
|
Registration # |
|
|
Street Address |
Plastics Avenue, P O Jawahar Nagar, Vadodara-391320, Gujarat |
||
|
Established Date |
25.04.2007 |
SIC Code |
-- |
|
Telephone# |
91-265-3068551 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-265-2232144 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Engineering Plastics |
|
|
# of employees |
250 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.1,086,225,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings
100.00% |
Banking |
HDFC Bank |
|
Public Limited Corp. |
No |
Business Period |
4 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
|
Japan
|
SABIC IP Japan LLC |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,848,696,000 |
Current Liabilities |
897,172,000 |
|
Inventories |
799,560,000 |
Long-term Liabilities |
3,234,000 |
|
Fixed Assets |
524,057,000 |
Other Liabilities |
125,721,000 |
|
Deferred Assets |
44,807,000 |
Total Liabilities |
1,026,127,000 |
|
Invest& other Assets |
8,687,000 |
Retained Earnings |
1,113,455,000 |
|
|
|
Net Worth |
2,199,680,000 |
|
Total Assets |
3,225,807,000 |
Total Liab. & Equity |
3,225,807,000 |
|
Total Assets (Previous Year) |
2,851,700,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales/ Total Income |
7,035,300,000 |
Net Profit |
339,800,000 |
|
Sales(Previous yr) |
6,096,721,000 |
Net Profit(Prev.yr) |
85,171,000 |
MIRA
INFORM REPORT
|
Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
SABIC INNOVATIVE PLASTICS (INDIA) PRIVATE LIMITED (w.e.f September
2007) |
|
|
|
|
Formerly Known
As : |
ENDURING PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plastics Avenue, P O Jawahar Nagar, Vadodara-391320, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
25.04.2007 |
|
|
|
|
Com. Reg. No.: |
04 - 50658 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1086.225 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202GJ2007PTC050658 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDE00346D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE7565N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Exporter of Engineering Plastics. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8790000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of SABIC group, worldwide. It is an established company
having satisfactory track. Trade relations are reported as fair. Business is
active. Payments are reported to be usually correct. 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Manish Maheshwari |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-265-3068529 |
LOCATIONS
|
Registered Office/Factory : |
Plastics Avenue, P O Jawahar Nagar, Vadodara-391320, Gujarat, India |
|
Tel. No.: |
91-265-3068551/ 552/ 3068520 |
|
Fax No.: |
91-265-2232144/ 2232144 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
3500 sq. ft (Approximately) |
|
Location : |
Owned |
|
|
|
|
Branch Office: |
Located At : v
Gurgaon v
Mumbai v
v
Pune v
Chennai |
DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Venugopal K. Koka |
|
Designation : |
Whole Time Director |
|
Address : |
D-501 |
|
Date of Birth/Age : |
09.06.1956 |
|
Date of Appointment : |
04.10.2007 |
|
|
|
|
Name : |
Mr. Chetan Pravinchandra Soni |
|
Designation : |
Director |
|
Address : |
07-Subhash Nagar, Nrgirdhar Nagar, Shahi Baug, Ahmedabad – 380 004, |
|
Date of Birth/Age : |
12.10.1973 |
|
Date of Appointment : |
11.08.2008 |
|
|
|
|
Name : |
Mr. Mahesh Kumar Sharma |
|
Designation : |
Director |
|
Address : |
C-103, Carlton Estate DLF, phase – V, Gurgaon – 122 002, Haryana |
|
Date of Birth/Age : |
29.04.1978 |
|
Date of Appointment : |
11.08.2008 |
|
|
|
|
Name : |
Mr. Surendra Umesh Kulkarni |
|
Designation : |
Director |
|
Address : |
E-301 – |
|
Date of Birth/Age : |
21.08.1948 |
|
Date of Appointment : |
04.04.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Venkatesan P |
|
Designation : |
Secretary |
|
Address : |
1529-Maruti Vihar, Gurgaon – 122 002, Haryana |
|
Date of Birth/Age : |
21.05.1973 |
|
Date of Appointment : |
12.05.2008 |
|
Date of Cessation: |
21.01.2010 |
|
|
|
|
Name : |
Mr. Amish Kumar Agarwal |
|
Designation : |
Vice President Commercial – SFS |
|
Date of Birth/Age : |
43 Years |
|
Date of Appointment : |
03.08.2007 |
|
Qualification : |
Diploma in Business Management |
|
|
|
|
Name : |
Mr. Prabir Kumar Das |
|
Designation : |
Commercial Leader – North |
|
Date of Birth/Age : |
46 Years |
|
Date of Appointment : |
03.08.2007 |
|
Qualification : |
M. Tech (Plastics and Rubber Tech) |
|
|
|
|
Name : |
Mr. N K Ramaswamy |
|
Designation : |
Commercial Leader – West |
|
Date of Birth/Age : |
46 Years |
|
Date of Appointment : |
03.08.2007 |
|
Qualification : |
B. Tech Polymer Science and Rubber |
|
|
|
|
Name : |
Mr. Ravinder Kumar Arora |
|
Designation : |
Polymer Leader |
|
Date of Birth/Age : |
46Years |
|
Date of Appointment : |
03.08.2007 |
|
Qualification : |
Masters of Marketing Management |
|
|
|
|
Name : |
Mr. Manjaree Chowdhary |
|
Designation : |
Vice – President Legal Affairs |
|
Date of Birth/Age : |
43 Years |
|
Date of Appointment : |
03.08.2007 |
|
Qualification : |
Masters of Law |
|
|
|
|
Name : |
Mr. Anurag Buch |
|
Designation : |
Product Market Leader |
|
Date of Birth/Age : |
48 Years |
|
Date of Appointment : |
03.08.2007 |
|
Qualification : |
MBA (Marketing) |
|
|
|
|
Name : |
Venkatakrishnan Umamaheswaran |
|
Designation : |
Automotive Leader |
|
Date of Birth/Age : |
48 Years |
|
Date of Appointment : |
01.11.2007 |
|
Qualification : |
BE (Mechanical) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sabic Innovative Plastics Holding Singapore PTE Limited, |
|
93479751 |
|
Sabic Innovative |
|
15142794 |
|
|
|
|
|
Total |
|
108622545 |
AS ON 29.09.2010
|
Category |
|
Percentage |
|
|
|
|
|
Foreign Holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Engineering Plastics. |
||||||||||||||||
|
|
|
||||||||||||||||
|
Products : |
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Exports : |
|
||||||||||||||||
|
Products : |
Engineering Plastics |
||||||||||||||||
|
Countries : |
·
Colombia ·
Malaysia ·
Australia |
||||||||||||||||
|
|
|
||||||||||||||||
|
Imports : |
|
||||||||||||||||
|
Products : |
Raw Material |
||||||||||||||||
|
Countries : |
·
·
·
China ·
Australia ·
USA |
||||||||||||||||
|
|
|
||||||||||||||||
|
Terms : |
|
||||||||||||||||
|
Selling : |
L/C, Cash and Credit (30-60-90 days) |
||||||||||||||||
|
|
|
||||||||||||||||
|
Purchasing : |
L/C, Cash and Credit (30-60-90 days) |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Advanced Engineering Plastics |
M.T. |
28010 |
14633 |
|
Polycarbonate Sheets |
M.T. |
3946 |
-- |
GENERAL INFORMATION
|
Customers : |
·
End Users ·
OEM’s |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
250 -Approximately |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank, Delhi Branch, Bangalore, Karnataka,
India ·
ABN Amro Bank, Bangalore, Karnataka, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountant |
|
Address : |
|
|
Tel. No.: |
91-124-4644000 |
|
Fax No.: |
91-124-4644050 |
|
|
|
|
Holding Company
: |
·
SABIC Innovative Plastics Holding Singapore Pte
Limited, |
|
|
|
|
Ultimate Holding
Company: |
· Saudi Basic Industries Corporation |
|
|
|
|
Associates/Subsidiaries
: |
·
SABIC Innovative Plastics Management ( ·
SABIC IP ·
IP LNP ·
Saudi IP Malaysia Sdn. Bhd ·
SABIC IP Shanghai Company Limited ·
SABIC IP Japan LLC ·
SABIC IP (SEA) Pte Limited ·
SABIC IP Australia Pty limited ·
SABIC Pacific Pte Limited ·
SABIC Plastech Sunsheet Zhn ·
SABIC IP Korea Limited ·
SABIC IP China Company Limited ·
SABIC IP Hongkong Limited ·
SABIC Innovative ·
SABIC IP Singapore Pte Limited ·
SABIC IP South ·
SABIC ( ·
SABIC Innovative Plastics (SEA) Plastic elc ·
SABIC Research and Technology private Limited ·
SABIC Innovative Plastics (SEA) Pte Limited,
Pacific HQ |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
114900000 |
Equity Shares |
Rs.10/- each |
Rs.1149.000 Millions |
|
100000 |
Preference Shares |
Rs.10/- each |
Rs.1.000 Millions |
|
|
|
|
|
|
Total |
Rs.1150.000 Millions |
||
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
108622545 |
Equity Shares |
Rs.10/- each
|
Rs.1086.225
Millions |
|
|
|
|
|
NOTE
Of the above
(i)
93,479,751 Equity Shares of Rs.10 each
are held by SABIC Innovative Plastics Holding Singapore Pte Limited,
(ii) 108,603,521 Equity Shares of Rs.10 each
were allotted as fully paid for consideration other than cash pursuant to the
scheme of arrangements and demerger dated 29.08.2007
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 |
1086.225 |
1086.225 |
1086.225 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1113.455 |
868.937 |
783.766 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2199.680 |
1955.162 |
1869.991 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.234 |
6.003 |
2.380 |
|
|
2] Unsecured Loans |
0.000 |
85.276 |
0.000 |
|
|
TOTAL BORROWING |
3.234 |
91.279 |
2.380 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2202.914 |
2046.441 |
1872.371 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
524.057 |
457.263 |
422.885 |
|
|
Capital work-in-progress |
8.687 |
27.732 |
54.307 |
|
|
|
|
|
|
|
|
Intangible Assets |
0.000 |
54.880 |
71.886 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
44.807 |
20.557 |
12.326 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
799.560
|
1024.464 |
919.496 |
|
|
Sundry Debtors |
1405.201
|
1120.739 |
1062.493 |
|
|
Cash & Bank Balances |
294.121
|
49.912 |
132.185 |
|
|
Other Current Assets |
0.092
|
0.038 |
0.000 |
|
|
Loans & Advances |
149.282
|
96.115 |
141.409 |
|
Total
Current Assets |
2648.256
|
2291.268 |
2255.583 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
831.078
|
676.809 |
843.204 |
|
|
Current Liabilities |
66.094
|
68.658 |
60.425 |
|
|
Provisions |
125.721
|
59.792 |
40.987 |
|
Total
Current Liabilities |
1022.893
|
805.259 |
944.616 |
|
|
Net Current Assets |
1625.363
|
1486.009 |
1310.967 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2202.914 |
2046.441 |
1872.371 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
6096.721 |
3599.923 |
|
|
|
Other Income |
|
33.671 |
22.835 |
|
|
|
TOTAL (A) |
7035.300 |
6130.392 |
3622.758 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Traded Goods |
|
3383.471 |
2489.679 |
|
|
|
Raw material consumed (including packing
materials) |
|
1917.501 |
1015.800 |
|
|
|
Personnel Expenses |
|
201.955 |
109.969 |
|
|
|
Operating and Other Expenses |
6411.300 |
548.022 |
200.604 |
|
|
|
Amortsiation of intangible assets |
|
17.006 |
11.430 |
|
|
|
Prior period items – Salaries, Wages and
Bonus |
|
5.259 |
0.000 |
|
|
|
Increase/(Decrease) in Finished Goods |
|
(165.192) |
(473.715) |
|
|
|
TOTAL (B) |
6411.300 |
5908.022 |
3353.767 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
624.000 |
222.370 |
268.991 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.900 |
14.404 |
9.446 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
623.100 |
207.966 |
259.545 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
94.000 |
69.804 |
42.186 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
529.100 |
138.162 |
217.359 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
189.300 |
52.991 |
80.726 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
339.800 |
85.171 |
136.633 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
39.923 |
132.567 |
70.068 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2038.166 |
1725.638 |
1073.090 |
|
|
|
Capital Goods |
27.064 |
34.877 |
50.814 |
|
|
TOTAL |
2065.230 |
1760.515 |
1123.904 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.13 |
0.78 |
1.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.82
|
1.39 |
3.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.52
|
2.27 |
6.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.67
|
5.04 |
8.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.07 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.46
|
0.46 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.58
|
2.86 |
2.39 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from Dharmsinh Park, NH
No. 8, P. B. No. 3, Nadiad 387 002,
PERFORMANCE
The Company
achieved a Net Turnover of Rs.7035.300 millions during the Financial Year under
review up by 15.39% as against Rs. 6096.700 millions for the previous financial
year. The growth in the turnover is reflective of the improved market response
and conditions in the economy as a whole. The Profit before Interest,
Depreciation and Taxes of the Company was Rs.624.000 millions as against Rs.
210.200 millions for the previous financial Year. Total Production for the
financial year was 17,703
PLASTICS INDUSTRY:
The plastic
industry in
I N HOUSE SHEET
MANUFACTURING FACILITY:
During the year,
the Company decided to move back the entire extruder plant that was leased to
Jains Irrigation Systems Limited, Jalgaon, and start in-house sheet
manufacturing at the existing Vadodara Plant. The Company has incurred a
capital expenditure of Rs.70 millions and a revenue outlay of Rs.50 millions
towards the same.
FIXED ASSETS
·
· Buildings (including leasehold improvements)
· Plant and Machinery
· Furniture, Fixtures
· Office Equipment
· Computers
· Vehicles
· Software
· Non-compete fees
· Brand License
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.48.82 |
|
|
1 |
Rs.78.57 |
|
Euro |
1 |
Rs.69.29 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.