MIRA
INFORM REPORT
|
Report Date : |
26.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
DUCON TECHNOLOGIES INDIA PRIVATE LIMITED (w.e.f. 25.10.2007) |
|
|
|
|
Formerly Known
As : |
DUCON POLLUTION CONTROL SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A/4, Road No.1, Behind Aplab Company, MIDC, Wagle Industrial
Estate, Thane – 400604, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.03.2005 |
|
|
|
|
Com. Reg. No.: |
11-51830 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.75.152 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33130MH2005PTC151830 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD12277G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD1243R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The subject is engaged in the design, manufacture and sale of the most advanced and custom engineered air pollution control and product recovery for a variety of industrial, chemical, utility and municipal applications. |
|
|
|
|
No. of Employees
: |
Information
declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 830000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is the Indian arm of the US-based parent company, ‘Ducon Technologies
Inc’. It is an established company having a satisfactory track record. Trade relations are reported as decent. Business is active. Payment
terms are usually correct and as per commitment. The company can be considered for business dealings at usual trade
terms and conditions. Note: ‘Ducon Pollution Control System Private Limited’ has changed its name
to ‘Ducon Technologies India Private Limited’ with effect from 25.10.2007. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in 2011
slowed because of persistently high inflation and interest rates and little
progress on economic reforms. High international crude prices have exacerbated
the government's fuel subsidy expenditures contributing to a higher fiscal
deficit, and a worsening current account deficit. Little economic reform took
place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
31.07.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
31.07.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Chandrashekhar |
|
Designation : |
Head in Marketing |
|
Contact No.: |
91-9323296702 |
|
Date : |
24.12.2012 |
LOCATIONS
|
Registered Office : |
Plot No. A/4, Road No.1, Behind Aplab Company, MIDC, Wagle Industrial
Estate, Thane – 400604, Maharashtra, India
|
|
Tel. No.: |
91-22-25883808/ 41122114/ 41122101 |
|
Fax No.: |
91-22-25883807 |
|
E-Mail : |
DIRECTORS
As on: 28.09.2011
|
Name : |
Mr. Arun Devendra Govil |
|
Designation : |
Director |
|
Address : |
19, Ebgineers lane, Farmingdale NY 11735 USA |
|
Date of Birth/Age : |
07.09.1955 |
|
Qualification : |
B.E. (Chemical) |
|
Date of Appointment : |
07.03.2005 |
|
|
|
|
Name : |
Mrs. Parikh |
|
Designation : |
Director |
|
Qualification : |
Graduate |
KEY EXECUTIVES
|
Name : |
Mr. Chandrashekhar |
|
Designation : |
Head in Marketing |
|
|
|
|
Name : |
Mr. Prasad Jambavdekar |
|
Designation : |
General Manager in Finance |
|
E-mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Govil Arun |
|
4515246 |
|
Kamal Prakash |
|
562500 |
|
Patil Kirn |
|
375000 |
|
Saha Amitava |
|
375000 |
|
Alok Prakash |
|
562500 |
|
Vimal Prakash |
|
562500 |
|
Agarwal Raja Rani |
|
562500 |
|
|
|
|
|
Total
|
|
7515246 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is engaged in the design, manufacture and sale of the most advanced and custom engineered air pollution control and product recovery for a variety of industrial, chemical, utility and municipal applications. |
GENERAL INFORMATION
|
Customers : |
·
Abbot Pharmaceuticals ·
Anaconda Copper ·
Armstrong World ·
Bowater Southern |
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|
|||||||||||||||
|
No. of Employees : |
Information
declined by the management. |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
· Dena Bank, 67-A, Krishna Bhavan, Nehru Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India · Janata Sahakari Bank Limited |
|||||||||||||||
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Facilities : |
(Rs.
In Millions)
Note: (A) Loan From Thane Janata Sahakari Bank Limited (B) Bank Overdraft(Secured against hypothecation of Book
Debts) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S S Kothari and Company Chartered Accountants |
|
Address : |
37, Hamam Street, 2nd Floor, Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22650264/ 22653555/ 22666219 |
|
Fax No.: |
91-22-22654370 |
|
PAN No.: |
AAASS0524M |
|
|
|
|
Particulars of Subsidiary
/ Associate Companies : |
· Ducon Technologies Inc. · Cemtrex Inc. · Jiwanram Sheoduttrai Industries Private Limited · Minicraft Enterprises Private Limited · Unimark International Private Limited · Unimark Metallurgical Private Limited · Nilachal Refractories Limited · Associated Industrial Furnaces Private Limited · Uniseven Engineering and Infrastructure Private Limited · Global Aluminimum Resources Private Limited · Cemtrex India Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7515246 |
Equity Shares |
Rs.10/- each |
Rs.75.152
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
75.152 |
75.152 |
15.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
10.574 |
|
|
3] Reserves & Surplus |
134.798 |
83.718 |
66.032 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
209.950 |
158.870 |
91.606 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
165.605 |
86.116 |
69.335 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
165.605 |
86.116 |
69.335 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
375.555 |
244.986 |
160.941 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
86.361 |
7.942 |
7.653 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.610 |
2.712 |
1.428 |
|
|
DEFERREX TAX ASSETS |
(1.163) |
0.169 |
0.718 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
597.243
|
930.278 |
451.318 |
|
|
Cash & Bank Balances |
185.217
|
160.897 |
157.648 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
111.333
|
139.026 |
71.160 |
|
Total
Current Assets |
893.793
|
1230.201 |
680.126 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
471.057
|
860.982 |
424.566 |
|
|
Other Current Liabilities |
53.495
|
62.975 |
55.495 |
|
|
Provisions |
81.494
|
72.081 |
48.923 |
|
Total
Current Liabilities |
606.046
|
996.038 |
528.984 |
|
|
Net Current Assets |
287.747
|
234.163 |
151.142 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
375.555 |
244.986 |
160.941 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1664.815 |
1139.950 |
717.068 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1565.529 |
1092.255 |
675.162 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
99.286 |
47.695 |
41.906 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.888 |
1.272 |
1.355 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
94.398 |
46.423 |
40.551 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
30.173 |
15.549 |
15.724 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
64.225 |
30.874 |
24.827 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
21.218 |
53.532 |
35.592 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
50.000 |
2.500 |
|
|
|
Proposed Dividend |
11.273 |
11.273 |
3.750 |
|
|
|
Corporate Tax thereon |
1.872 |
1.915 |
0.637 |
|
|
BALANCE CARRIED
TO THE B/S |
22.298 |
21.218 |
53.532 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.55 |
14.78 |
31.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.86 |
2.71 |
3.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.63 |
3.75 |
5.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
0.29 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.68 |
6.81 |
6.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47 |
1.24 |
1.29 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
(Rs.
in Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due small micro enterprises |
0.000
|
0.000
|
0.000
|
|
Creditors due others |
471.057
|
860.982 |
424.566 |
|
|
|
|
|
|
Total |
471.057
|
860.982 |
424.566 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATION AND
BUSINESS PERFORMANCE REVIEW
The company has achieved a turnover including other income of Rs.1664.815 Millions as against target sales of Rs.2280.000 Millions during the year 2010-11.Although they started with Order book of Rs.3863.657 Millions for the year 2010-11, they could not achieve targeted sales as , Sterlite Copper Expansion FGD order of Rs.634.980 Millions was kept on hold by Sterlite , which was to be commissioned by February 2011 and UTKAL Alumina Handling Project was delayed due local issues. The Profit before Tax and Depreciation was at Rs.99.286 Millions as against Rs.47.695 Millions during the previous year. Orders of Rs.22 83.518 Millions were booked during the year 2010-11 and order backlog as on the close of the year was Rs.3476.033 Millions.
The company has been bagged prestigious order from HINDALCO for Alumina Wagon Unloading and Bath Recycling Systems for their Mahan and Aditya Aluminium Smelter Plant.
The company has been conferred with the Leaders of Tomorrow Engineering Products 2010 award from ET Now and India Mart in hands of honorable Home Minister Sri P. Chidambaram considering achievements made by the company in Engineering Field.
OUTLOOK FOR THE
COMPANY:
In the year, company has weathered impact of global economic slow-down, however, on the strength of healthy order booking position as well as major orders in the Flue Gas desulphurization System in the pipeline, the company expects to continue sustained growth path.
CONTINGENT
LIABILITIES:
Contingent Liability not provided for in respect of Bank Guarantee taken from Dena bank amounting to Rs. 397.495 Millions (Previous Year Rs.344.885 Millions) and demand raised by income tax department for the year 2007-08 amounting Rs.13.613 Millions and matter is pending before Honorable Income Tax Appellate Tribunal.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U33130MH2005PTC151830 |
|
Name of the
company |
DUCON
TECHNOLOGIES INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Plot No. A/4, Road No.1, Behind Aplab Company, MIDC, Wagle Industrial
Estate, Thane – 400604, Maharashtra, India E-mail: indiasales@ducon.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10118281 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Dena Bank, 67-A, Krishna Bhavan, Nehru Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India E-mail: vileas@denabank.co.in |
|
Nature of
instrument creating charge |
Memorandum of
entry for extension of existing mortgage |
|
Date of instrument
Creating the charge |
29.09.2012 |
|
Amount secured by
the charge |
Rs.930.400
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 Equitable
Mortgage by deposit of Title Deeds in respect of Borrowers immovable
properties Viz. Gala No.58, 59 both admeasuring 280 Sq. Ft. and Gala No.5, about 450 Sq. Ft. in the
Building No.2 known as Asiatic Arcade on the piece and parcel of land situate
at Village Majiwade, Taluka and District Thane within the Thane Municipal
Corporation in the city of Thane, bearing survey No. 215, H. No. 2, Survey
No.216 (p) admeasuring about 7266.40 Sq. Mtrs. plus FSI 2900 sq. Mtrs.and S.
No.215, H. No.1 and 2 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Equitable
Mortgage by deposit of Title Deeds in respect of Borrowers immovable properties
Viz. Gala No.58, 59 both admeasuring 280 Sq. Ft. in the Building No.2 2nd
Floor, known as Asiatic Arcade,
bearing S No. 215/1(pt) and 2(pt),
Survey No.216 and 218 and S No.215/1 (PT) respectively in at Village
Majiwade, Taluka and District Thane within the Thane Municipal Corporation in
the city of Thane and Gala No.5, Admeasuring 450 Sq. Ft. built up ares
(Carpet Area 320 Sq. Ft.) at Village Majiwade, Taluka and District Thane bearing S. No.215 H No.1, admn. 2840 Sq.
Mtrs. and S. No.215 H. No.2, Admn.3958.50 Sq. Mtrs., S. No.216 (Pt) admn
467.60 Sq. Mtrs. aggregating to 7266.40 Sq. Mtrs. with additional area of
land going in set back of Road admeasuring about 2900 Sq. Mtrs. |
|
Date of
instrument modifying the charge |
11.03.2010 |
|
Particulars of
the present modification |
By the present
modification existing Mortgage of immovable Properties is extended to the
revised limit sanctioned by the Bank to the Borrower making total limit Rs.
930.400 Millions. Thus by the present modification the total limit stands at
Rs. 930.400 Millions. |
FIXED ASSETS:
· Office Premises
· Furniture and Fixture
· Office Equipments
· Vehicles
· Computers
· Plant and Machinery
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 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 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.55.09 |
|
|
1 |
Rs.89.10 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
47 |
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.