1. Summary Information
|
|
|
Country |
|
|
Company Name |
Coromandel Paints Limited |
Principal Name 1 |
Mr. Arumalli
Satyanarayana |
|
Status |
Moderate |
Principal Name 2 |
Mr. Arumalli Atchuta
Rama Rao |
|
|
|
Registration # |
01-1902 |
|
Street Address |
Pendurthy, |
||
|
Established Date |
03.07.1975 |
SIC Code |
-- |
|
Telephone# |
91-891-2764210/ 2764218/
2764219 |
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.71,621,200/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of Directors- 45.31%,
Other top fifty shareholders- 54.69% |
Banking |
Axis Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
37 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 |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
80,527,000 |
Current Liabilities |
108,720,000 |
|
Inventories |
64,344,000 |
Long-term Liabilities |
117,514,000 |
|
Fixed Assets |
158,931,000 |
Other Liabilities |
2,902,000 |
|
Deferred Assets |
1,029,000 |
Total Liabilities |
229,136,000 |
|
Invest& other Assets |
17,138,000 |
Retained Earnings |
21,212,000 |
|
|
|
Net Worth |
92,833,000 |
|
Total Assets |
321,969,000 |
Total Liab. & Equity |
321,969,000 |
|
Total Assets (Previous Year) |
310,520,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
407,611,000 |
Net Profit |
3,216,000 |
|
Sales(Previous yr) |
329,389,000 |
Net Profit(Prev.yr) |
3,481,000 |
MIRA
INFORM REPORT
|
Report Date : |
04.04.2012 |
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) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
03.07.1975 |
|
|
|
|
Com. Reg. No.: |
01-1902 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.71.621 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24229AP1975PLC001902 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
VPNC00011E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACC7024R |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers of
Paints. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
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 |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 – 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 |
LOCATIONS
|
Registered/ Head Office/ Factory 1 : |
Pendurthy, |
|
Tel. No.: |
91-891-2764210 /
2764218 / 2764219 |
|
Fax No.: |
91-891-2764065 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
D No : 5-116C, Tukkuluru (V), Nuzvid (M),
Krishna District, PIN: 521 201 |
|
Tel. No.: |
91-8656-234085 / 95 / 234625 / 35 |
|
Fax No.: |
91-8656-234785 |
|
|
|
|
Factory 3 : |
D No : 4-49, IDA, Gandigundam (V), Pendurthy
(SO), Anandapuram (M), Visakhapatnam - 531 173 (District), Andhra Pradesh,
India |
|
Tel. No.: |
91-891-2764692 |
|
Fax No.: |
91-891-2764065 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Arumalli
Satyanarayana |
|
Designation : |
Managing Director
|
|
Address : |
9-17-29, Himadri,
CBM Compound, |
|
Date of Birth/Age : |
25.11.1963 |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
00879314 |
Other
Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24229AP1975PLC001902 |
Coromandel
Paints Limited |
Managing
director |
01-10-10 |
30-03-93 |
Active |
NO |
|
2 |
U28999AP1995PLC019855 |
East Coast
Paints Limited |
Managing
director |
01-10-10 |
29-03-95 |
Active |
NO |
|
|
|
|
Name : |
Mr. Arumalli
Atchuta Rama Rao |
|
Designation : |
Whole Time
Director |
|
Address : |
9-17-29, Himadri,
CBM Compound, |
|
Date of Birth/Age : |
10.05.1934 |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
02432808 |
Other
Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24229AP1975PLC001902 |
Coromandel
Paints Limited |
Whole-time
director |
01-10-10 |
12-08-91 |
Active |
NO |
|
2 |
U28999AP1995PLC019855 |
East Coast
Paints Limited |
Director |
29-03-95 |
29-03-95 |
Active |
NO |
|
|
|
|
Name : |
Mr. Arumalli
Venkata Rao |
|
Designation : |
Director |
|
Address : |
D. No. 7-17-7,
Flat No. 14, IIIrd Floor, Vijaya Apartments, Chinawaltair, Kirlampudi Layout,
Visakhapatnam – 530 003, Andhra Pradesh, India |
|
Date of Birth/Age : |
12.05.1939 |
|
Date of Appointment : |
30.12.1993 |
|
DIN No.: |
02460827 |
|
|
|
|
Name : |
Mr. Nekkanti Subba Rayudu |
|
Designation : |
Director |
|
Address : |
Plot No. 70,
Pandurangapuram, |
|
Date of Birth/Age : |
16.06.1952 |
|
Date of Appointment : |
30.12.1993 |
|
DIN No.: |
01791186 |
Other
Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24229AP1975PLC001902 |
Coromandel
Paints Limited |
Director |
30-12-93 |
30-12-93 |
Active |
NO |
|
2 |
U05005AP1983PLC004128 |
Nekkanti Sea
Foods Limited |
Director |
01-04-06 |
01-04-06 |
Active |
NO |
|
|
|
|
Name : |
Mr. Jasti
Karunendra Srinivasa |
|
Designation : |
Director |
|
Address : |
Plot No. 30, Road
No. 10, Dhanalakshmi Society, Mahendra Hills, Secunderabad, Ranga Reddy – 500
026, Andhra Pradesh, India |
|
Date of Birth/Age : |
26.02.1966 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
01021857 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U26109AP1988PTC008918 |
Stypack Private
Limited |
Managing
director |
05-08-88 |
05-08-88 |
- |
Active |
NO |
|
2 |
U70102AP1989PTC009517 |
Vijaya Estate
and Holdings Private Limited |
Director |
25-01-93 |
25-01-93 |
03-12-08 |
Dormant |
NO |
|
3 |
U51219AP1994PTC017322 |
Stypack Agri
Exports Private Limited |
Managing
director |
06-04-94 |
06-04-94 |
- |
Active |
NO |
|
4 |
U01119AP1999PTC032909 |
Macro Media
Digital Imaging Private Limited |
Director |
27-09-01 |
27-09-01 |
- |
Active |
NO |
|
5 |
U71120AP2002PLC027001 |
Great Offshore
Salvage Services Limited |
Director |
26-12-03 |
26-12-03 |
05-11-08 |
Active |
NO |
|
6 |
U25209AP2004PTC042657 |
3d Foamcut
Private Limited |
Director |
16-02-04 |
16-02-04 |
- |
Active |
NO |
|
7 |
U25206AP2007PTC054330 |
Mahalakshmi
Stypack Polymers Private Limited |
Director |
06-06-07 |
06-06-07 |
- |
Active |
NO |
|
8 |
U24229AP1975PLC001902 |
Coromandel
Paints Limited |
Director |
30-09-10 |
01-10-09 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Arumalli Rama |
|
Designation : |
Whole Time
Director |
|
Address : |
9-17-29, Himadri,
CBM Compound, |
|
Date of Birth/Age : |
27.09.1965 |
|
Date of Appointment : |
18.05.2003 |
|
DIN No.: |
00879339 |
Other
Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U28999AP1995PLC019855 |
East Coast Paints
Limited |
Director |
29-03-95 |
29-03-95 |
Active |
NO |
|
2 |
U24229AP1975PLC001902 |
Coromandel
Paints Limited |
Whole-time
director |
01-10-09 |
18-05-03 |
Active |
NO |
|
|
|
|
Name : |
Mr. Rajendra
Prasad Kodali |
|
Designation : |
Director |
|
Address : |
B-3, Sugar
Factory Colony, Chagallu, West Godavari – 534 342, |
|
Date of Birth/Age : |
14.08.1948 |
|
Date of Appointment : |
10.06.2008 |
|
DIN No.: |
02215308 |
Other
Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24229AP1975PLC001902 |
Coromandel
Paints Limited |
Director |
30-09-08 |
10-06-08 |
Active |
NO |
|
|
|
|
Name : |
Mr. Pramod
Arumilli |
|
Designation : |
Director |
|
Address : |
9-17-29, Himadri,
CBM Compound, |
|
Date of Birth/Age : |
16.05.1990 |
|
Date of Appointment : |
10.06.2008 |
|
DIN No.: |
02215279 |
Other
Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24229AP1975PLC001902 |
Coromandel
Paints Limited |
Director |
30-09-08 |
10-06-08 |
Active |
NO |
MAJOR SHAREHOLDERS
AS ON 30.09.2011
|
Names of
Shareholders |
|
No. of Shares |
|
|
|
|
|
A. Satyanarayana
(Individual) |
|
89335 |
|
A. Satyanarayana (HUF) |
|
40000 |
|
Arumilli Rama |
|
52260 |
|
Arumilli Pramod |
|
51420 |
|
|
|
3250 |
|
N Ramesh Kumar |
|
500 |
|
|
|
600 |
|
A Swarnalatha |
|
2100 |
|
A Renuka |
|
6550 |
|
A Madhuri |
|
1800 |
|
Masina Vijaya
Lakshmi |
|
4360 |
|
P Rama Tulasi |
|
1310 |
|
K Kishore Kumar |
|
20100 |
|
A Rajeshwari |
|
3000 |
|
Karumilli Janaki |
|
25000 |
|
|
|
10000 |
AS ON 30.09.2011
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors or relatives of Directors |
45.31 |
|
Other top fifty shareholders |
54.69 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Paints. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION
STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Paints and Varnishes [per year] |
Mt/K1 |
92320 |
-- |
|
Liquid Paints – intended for sales |
Ltrs. |
-- |
2181419 |
|
On job works basis for third parties |
Ltrs. |
-- |
45950545 |
|
CAWD paints [intended for sales] |
Kgs. |
-- |
3152 |
|
Wallputty |
Kgs. |
-- |
31300 |
GENERAL
INFORMATION
|
No. of Employees : |
600
(Approximately) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis
Bank Limited D.No.47-10-24/25,
Sai Trade Centre, 2nd Lane, Dwarakanagar, Vishakhapatnam – 530 016, Andhra
Pradesh, India · Bank of India Main Branch, Dwarakanagar, Visakhapatnam, Andhra Pradesh, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Brahmayya and
Company Chartered
Accountants |
|
Address : |
10-50-24,
Siripuram JN., |
|
Tel. No.: |
91-891-2755848 /
2754071 / 2755821 |
|
Fax No.: |
91-891-258560 |
|
PAN No.: |
AADFB8032G |
|
Grams : |
“AUDITRICIS” |
|
E-Mail : |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
725000 |
Equity Shares |
Rs.100/- each |
Rs.72.500 millions |
|
5000 |
Preference Shares |
Rs.100/- each |
Rs.0.500 million |
|
|
|
|
|
|
|
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 |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
407.611 |
329.389 |
327.231 |
|
|
|
Other Income |
0.535 |
0.726 |
0.212 |
|
|
|
TOTAL (A) |
408.146 |
330.115 |
327.443 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
243.129 |
174.511 |
|
|
|
|
Manufacturing service costs |
89.360 |
72.540 |
|
|
|
|
Employee related expenses |
23.641 |
25.300 |
|
|
|
|
Administrative selling other expenses |
11.996 |
11.748 |
|
|
|
|
TOTAL (B) |
368.126 |
284.099 |
281.151 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
40.020 |
46.016 |
46.292 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL CHARGES (D) |
10.378 |
13.460 |
13.563 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
29.642 |
32.556 |
32.729 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.938 |
28.387 |
29.568 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.704 |
4.169 |
3.161 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.488 |
0.688 |
2.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.216 |
3.481 |
0.783 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14.161 |
10.680 |
9.897 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
17.377 |
14.161 |
10.680 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.49 |
4.86 |
1.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.79
|
1.05 |
0.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.15
|
1.27 |
0.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.55
|
1.35 |
1.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.05 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.47
|
2.44 |
2.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.27 |
1.55 |
LOCAL AGENCY FURTHER INFORMATION
CONTINGENT LIABILITIES
NOT PROVIDED FOR
|
Particulars
|
As
on 31.03.2011 Rs.
in millions |
|
|
|
|
i) Outstanding Bank Guarantees and Letters
of Credit |
3.830 |
|
ii) Disputed Excise duty demands |
2.405 |
|
a) Rs.0.582 millions paid under protest is
grouped under loans and advances. |
|
FORM 8
|
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, |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Others Corporate Guarantee |
|
Particular of charge holder |
Axis Bank Limited D.No.47-10-24/25, Sai Trade Centre, E-Mail : satyaprakash.sv@axisbank.com |
|
Nature of instrument creating charge |
1. Corporate Guarantee. 2. Memorandum of Entry. |
|
Date of instrument Creating the charge |
25.02.2011 |
|
Amount secured by the charge |
Rs.10.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest Not Applicable Terms of repayment Not Applicable Margin Not Applicable Extent and operation of the charge The Company has extended its Corporate Guarantee for the Credit Facilities
of Rs.10.000 millions sanctioned by the AXIS BANK LIMITED, Dwarakanagar, Others Not Applicable |
|
Short particulars of the property charged (Including location of the
property) |
·
The Company has extended Corporate Guarantee for the credit facilities sanctioned to
East Coast Paints Limited ·
Extension of EM of ·
Extension of EM of dry land measuring Ac
3.41cents being a part of total extent of Ac16.81cents in RS No.304/3 of
Tukkuluru(V) and Panchayat, Nuzvid (M), Krishna Dist on pari passu basis with
Bank of India ·
Extension of EM of vacant land to an extent of
Ac.3.95 cents in RS No.204/2 and Ac 0.05 cents in RS.No. 204/1 situated at
Tukkuluru (V), Nuzvid (M), Krishna Dist on pari passu basis with Bank of
India. ·
Extension of EM of land to an extent of Ac.4.65
1/2cents in RS No.204/2 and of Ac 0.05cents in RS.No.204/3 situated at
Tukkuluru (V), Nuzvid (M), Krishna Dist on pari passu basis with Bank of
India. ·
The above properties remain as common security
for the credit facilities sanctioned by the bank to M/s. Coromandel paints
Limited, M/s. Coastal paints Limited and M/s.East coast paints limited. |
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.50.56 |
|
|
1 |
Rs.81.05 |
|
Euro |
1 |
Rs.67.49 |
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.