MIRA
INFORM REPORT
|
Report Date : |
21.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
PODDAR PIGMENTS LIMITED |
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Registered
Office : |
E-10-11, F-14-16 Riico Industrial Area, Sitapura, Jaipur-302022,
Rajasthan |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.11.1991 |
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Com. Reg. No.: |
17-6307 |
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Capital
Investment / Paid-up Capital : |
Rs.106.100 Millions |
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CIN No.: [Company Identification
No.] |
L24117RJ1991PLC006307 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JPRP00449B |
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Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturing of Specially Masterbatches and Engineering
Plastic Compound |
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No. of Employees
: |
346 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2139000 |
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Status : |
Satisfactory |
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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. Directors are reported to be experienced and respectable
businessmen. Trade relations are fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal 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) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
E-10-11, F-14-16 Riico Industrial Area, Sitapura, Jaipur-302022, |
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Tel. No.: |
91-141-2770202 |
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Fax No.: |
91-141-2771922 |
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E-Mail : |
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Website : |
www.poddarpigments.com |
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Head Office : |
308, Abhishek, 3rd Floor, Off New Link Road, Opposite Sab
TV, Andheri West, Mumbai – 400053, Maharashtra, India |
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Tel. No.: |
91-22-26740582 |
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Fax No.: |
91-22-26732905 |
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E-Mail : |
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Corporate Office : |
302, Nanak Chambers, 3rd Floor (opposite |
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Factory : |
RIICO Industrial. Area,
Sitapura, Jaipur-302022, |
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Tel. No.: |
91-141-2770702 / 3 / 2770287 /
291 |
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Fax No.: |
91-141-2771922 |
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E-Mail : |
DIRECTORS
As on 31.03.2011
|
Name : |
Mrs. Kusum Poddar |
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Designation : |
Director |
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Address : |
4, |
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Date of Birth/Age : |
02.07.1951 |
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Date of Appointment : |
21.07.1998 |
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Name : |
Mr. Manoj Kumar Sonthlia |
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Designation : |
Director |
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Address : |
20, |
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Date of Birth/Age : |
16.09.1957 |
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Date of Appointment : |
28.02.1994 |
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Name : |
Mr. Nagrajan Gopalaswamy |
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Designation : |
Director |
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Address : |
Dalmia Colony, Dalmia Puram, Trichy, Trichy-621651, |
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Date of Birth/Age : |
06.02.1932 |
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Date of Appointment : |
01.07.1994 |
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Name : |
Mr. Ramesh Kumar Sureka |
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Designation : |
Whole time Director |
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Address : |
37 A, |
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Date of Birth/Age : |
11.12.1956 |
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Date of Appointment : |
30.05.1999 |
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Name : |
Mr. Shiv Shankar Poddar |
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Designation : |
Managing Director |
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Address : |
4, |
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Date of Birth/Age : |
10.09.1949 |
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Date of Appointment : |
28.02.1994 |
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Name : |
Mr. Vishnu Kumar Fogla |
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Designation : |
Director |
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Address : |
78/8, Block-E, New Alipore, Kolkata-700053, West |
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Date of Birth/Age : |
09.06.1949 |
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Date of Appointment : |
28.07.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding of Promoter and Promoter Group |
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|
2005000 |
18.90 |
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|
4118920 |
38.82 |
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|
6123920 |
57.72 |
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Total shareholding of Promoter and Promoter Group (A) |
6123920 |
57.72 |
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(B) Public Shareholding |
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|
30600 |
0.29 |
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26900 |
0.25 |
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57500 |
0.54 |
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|
1356964 |
12.79 |
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|
2302493 |
21.70 |
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666592 |
6.28 |
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71741 |
0.68 |
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30790 |
0.29 |
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|
4428580 |
41.74 |
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Total Public shareholding (B) |
4486080 |
42.28 |
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Total (A)+(B) |
10610000 |
100.00 |
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(C) Shares held by Custodians and against which
Depository Receipts have been issued |
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Total (A)+(B)+(C) |
10610000 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 millionBUSINESS DETAILS
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Line of Business : |
Manufacturing of Specially Masterbatches and Engineering
Plastic Compound |
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Products : |
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PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Installed
Capacity (p.a.)* |
Actual
Production |
|
Specialty Masterbatches [including Engineering Plastic compounds] |
M.T. |
11100 |
13042.90 |
Note
* As certified by the management. It depends upon
a particular product mix and varies due to change in product mix.
GENERAL INFORMATION
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No. of Employees : |
346 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K. N. Gutgutia and company
Chartered accountant |
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Address : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12500000 |
Equity Shares |
Rs.10/- Each |
Rs.125.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10610000 |
Equity Shares |
Rs.10/- each |
Rs.106.100
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
106.100 |
106.100 |
122.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
428.659 |
360.955 |
259.927 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
534.759 |
467.055 |
381.927 |
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LOAN FUNDS |
|
|
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|
1] Secured Loans |
200.895 |
68.126 |
78.995 |
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2] Unsecured Loans |
39.333 |
22.663 |
30.546 |
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TOTAL BORROWING |
240.228 |
90.789 |
109.541 |
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DEFERRED TAX LIABILITIES |
30.432 |
26.990 |
30.878 |
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TOTAL |
805.419 |
584.834 |
522.346 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
308.772 |
200.928 |
184.376 |
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Capital work-in-progress |
0.470 |
0.193 |
14.494 |
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INVESTMENT |
66.793 |
62.614 |
37.975 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
295.812
|
197.643. |
171.118
|
|
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Sundry Debtors |
255.212
|
191.601 |
185.454
|
|
|
Cash & Bank Balances |
12.494
|
10.702 |
17.174
|
|
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Other Current Assets |
0.000
|
0.000 |
0.000
|
|
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Loans & Advances |
196.198
|
161.196 |
88.940
|
|
Total
Current Assets |
759.716
|
561.142 |
462.686 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
152.163
|
116.817 |
119.215
|
|
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Other Current Liabilities |
38.189
|
33.024 |
57.970
|
|
|
Provisions |
139.980
|
90.202 |
|
|
Total
Current Liabilities |
330.332
|
240.043 |
177.185 |
|
|
Net Current Assets |
429.384
|
321.099 |
285.501 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
805.419 |
584.834 |
522.346 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
|
|
|
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Net Sales |
1864.802 |
1530.896 |
1197.332 |
|
|
|
Other Income |
25.141 |
82.941 |
8.330 |
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|
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TOTAL (A) |
1889.943 |
1613.837 |
1205.662 |
|
|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Traveling, Manufacturing and Other Expenses |
1711.890 |
1414.574 |
1112.145 |
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|
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TOTAL (B) |
1711.890 |
1414.574 |
1112.145 |
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|
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|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
178.053 |
199.263 |
93.517 |
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|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
14.797 |
6.100 |
12.180 |
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|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
163.256 |
193.163 |
81.337 |
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|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.272 |
21.550 |
21.655 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
139.984 |
171.613 |
59.682 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
44.442 |
31.212 |
21.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
95.542 |
140.401 |
38.382 |
|
|
|
|
|
|
|
|
|
Add |
Tax Adjustment
for prior years |
0.000 |
1.514 |
1.318 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
141.965 |
14.427 |
18.727 |
|
|
|
|
|
|
|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
15.915 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
7.958 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
3.965 |
0.000 |
0.000 |
|
|
|
Transfer to General Reserve |
170.000 |
14.377 |
44.000 |
|
|
BALANCE CARRIED
TO THE B/S |
39.669 |
141.965 |
14.427 |
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods |
483.758 |
399.044 |
309.922 |
|
|
TOTAL EARNINGS |
483.758 |
399.044 |
309.922 |
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|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
802.809 |
690.029 |
574.476 |
|
|
|
Stores & Spares |
9.660 |
1.771 |
1.132 |
|
|
|
Capital Goods |
47.731 |
12.006 |
2.572 |
|
|
TOTAL IMPORTS |
860.200 |
703.806 |
578.180 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.00 |
12.10 |
3.25 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2011 1st
Quarter |
30.09.2011 2nd
Quarter |
|
Net Sales |
|
19444.900 |
18005.800 |
|
Total Expenditure |
|
16051.200 |
15346.400 |
|
PBIDT (Excl OI) |
|
3393.700 |
2659.400 |
|
Other Income |
|
8.200 |
1052.100 |
|
Operating Profit |
|
3401.900 |
3711.500 |
|
Interest |
|
1227.300 |
1241.400 |
|
Exceptional Items |
|
0.000 |
-109.100 |
|
PBDT |
|
2174.600 |
2361.000 |
|
Depreciation |
|
127.000 |
151.700 |
|
Profit Before Tax |
|
2047.600 |
2209.300 |
|
Tax |
|
670.500 |
729.400 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
1377.100 |
1479.900 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
1377.100 |
1479.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.06
|
8.70 |
3.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.51
|
11.21 |
4.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.10
|
22.52 |
9.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.37 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.07
|
0.71 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.30
|
2.34 |
2.61 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The Company has scaled new heights in overall performance and has set new benchmarks in terms of turnover (including export benefit). During the year, the Company has achieved turnover of Rs.2005.600 millions as against Rs.1624.100 millions in the previous year, registering an increase of 23.49% over the previous year. The production capacity of the company has increased from 8400 M.T. to 11100 M.T. as a result of expansion at the company's existing plant. Production from the expanded capacity was started from third quarter of current Financial Year i.e. 2010-11.
The Company has also improved its performance in Exports and achieved direct export turnover of Rs.493.900 millions as against Rs.405.600 millions in previous year, registering an increase of 21.77%. The Company Exports to over 20 countries around the Globe. The improved volume has enabled the Company to achieve significant improvement in EBIDTA margin (i.e. 9.55% from 8.69% in 2009-10).
FINANCIAL AND
OPERATIONAL PERFORMANCE
The company has scaled new heights in overall performance. They were able to sustain it’s business performance and have registered an overall positive growth in the domestic and export sales. The company has achieved a turnover of Rs.2005.600 millions in the year ended31.03.11 as against Rs.1624.100 millions in the previous year - a 23.49% increase.
The company had planned an expansion to be completed in the
third and fourth quarter of financial year 2010-11 which has been completed as
per schedule. With this expansion the total installed capacity P.A. is now
11100 MT as against a previous 8400
Achievement of 9001:2008 standards in its operation reflects The Company’s continuous commitment towards quality and customer satisfaction.
SEGMENT-WISE/PRODUCT-WISE
PERFORMANCE
Since direct export operations contribute more than 10% of the company's total revenue, this geographical segment has been considered a primary segment.
Domestic sales contributed Rs.149.100 millions this Year, as against Rs.1201.600 millions in the previous year, showing an increase of 24.09%.
Export sales (Excluding Export Benefits) contributed Rs.493.900 millions as against Rs.405.600 millions in the previous year, showing an increase of 21.77%.
INDUSTRY STRUCTURE
AND DEVELOPMENTS
The Company is an ISO 9001:2008 QMS certified company manufacturing Color and Additive Master Batches for dope dyeing of man- made fibers, various plastic applications and Engineering Plastics and Compounds.
The per capita consumption of plastics in
The per capita consumption of fiber in India is also quite low at 5 kgs whereas the global demand for 2010 is at 10.4 Kgs. China, North America and Western Europe have a per capita consumption 16 Kgs, 31 Kgs and 22 kgs respectively.
As the consumption of master batches is linked to the consumption of polymers and synthetic dope dyed fibers, the domestic market is expected to grow at the rate of 15% per annum for the next few years.
BUSINESS OUTLOOK
2010 was a year of recovery and growth for the global
petrochemical and polymer industry. The Indian polymer industry has shown a
growth of more than 15% per annum. The approximate polymer consumption in
Indian petrochemicals industry has seen a growth of about
14-15% per annum over2005-2010, as per BMI, and a double-digit growth is likely
to stay over the medium term. It should out-pace the global market, which is
not expected to return to pre-recession levels of growth until 2012. Polymer
output is set to accelerate over the next five years as capacity is expanded in
The company has made in-roads into some of the world's largest master batch markets.The growth from export sales is expected to be around 15% per annum for the next few years.
Due to the increase in polymer consumption, the domestic demand of master batches is also expected to grow by around 15% per annum in the next few years.
The company's emphasis and thrust on the continuous development of new and innovative products will enable it to stay ahead of the competition.
With the growing demand of master batches it can be optimistically stated that in the coming years, The company to be headed for excellent growth and better all-round performance
CONTINGENT
LIABILITIES
(Rs. in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Letter of Credit against purchase of raw material |
57.022 |
30.013 |
|
Bonds Executed with customs and Excise authorities |
3.000 |
43.000 |
|
Show cause notices in respect of Excise duty matters pending with
adjusting authority for necessary order |
3.018 |
2.310 |
|
Income tax matters in appeals |
0.184 |
1.280 |
FIXED ASSETS
- Land`
- Building
- Plant and Machinery
- Office Equipments
- Furniture and Fixture
- Vehicles
BUSINESS DESCRIPTION
Subject is engaged in the business of manufacturing of
master batches and engineering plastic compounds. The Company manufactures color
and additive master batches for dope dyeing of man-made fibers, various plastic
applications, and engineering plastics and compounds. Its manufacturing
operations are carried out in
AS PER WEB DETAILS
|
Year |
Milestones |
|
2007 |
Accredition as an 'Star House' for Export by Government of
|
|
2004 |
Accredition as an "EXPORT HOUSE" by Govt. of |
|
2003 |
Up-gradation from ISO 9002:1994 to ISO 9001:2000 Certification Masterbatches for Polyester Automotive and outdoor furniture applications. |
|
2002 |
Enhancement of Plant Capacity (7000 MT/A). |
|
2000 |
Acquisition of ISO 9002. |
|
1999 |
Established production of Nylon Masterbatches for Fiber applications. Enhancement of Plant Capacity (3280 MT/A) |
|
1997 |
Established production of Polyester masterbatches for Fibre and PET Bottle applications. |
|
1995 |
Established production of PP Fiber Grade Masterbatches and PE Masterbatches. Plant Capacity 2400 MT/A. Commencement of production of Masterbatches for BOPP Applications. |
BOARD OF DIRECTOR
MAHIMA P. AGARWAL -
ADDITIONAL DIRECTOR
Smt. Mahima P. Agarwal is Additional Director of Subject. She
is having 10 years experience in Administrative, Foreign Trade, Taxation and
Accounting fields.
VISHNU KUMAR FOGLA -
NON-EXECUTIVE INDEPENDENT DIRECTOR
Shri. Vishnu Kumar Fogla is Non-Executive Independent Director of Subject. He is Director of the Company since 2003. He holds a Bachelor's Degree in Mechanical Engineering. He is having about 41 years of business experience.
KISHORE RUNGTA -
ADDITIONAL DIRECTOR
Shri. Kishore Rungta is Additional Director of Subject. He is an industrialist having experience. He is on the governing Board and Chairman of Finance Committee of Kanodiya Mahila Mahavidyalaya for over 15 years, a post graduate college for girls with strength of 2,300 students along with a hostel.
M. K. SONTHALIA -
NON-EXECUTIVE INDEPENDENT DIRECTOR
Shri. M. K. Sonthalia is Non-Executive Independent Director of Subject. He is an Industrialist and having Industrial experience of more than 29 years. He is associated with various publication Companies. He is Director of the Company since 1994. His Directorship in Other Companies includes:- Express Publications (Madurai) Limited Express Publications (Chennai) Limited, Siddharth Media Holdings Private Limited, Sterling Newspapers Private Limited, Express News Services Private Limited, Dinamani Publications Limited and Kannada Prabha Publications Limited.
R. K. SUREKA - CHIEF
EXECUTIVE OFFICER, EXECUTIVE DIRECTOR
Shri. R. K. Sureka is Chief Executive Officer, Executive Director of Subject, since June 1, 1999. He is a Fellow member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India. He has managerial experience of more than 30 years and has worked in senior position in his professional career controlling the area of finance, commercial and administrative functions.
PRESS RELEASE
Significant
Developments
Poddar Pigments
Limited Recommends Final Dividend
May 28, 2011
Poddar Pigments Limited announced that the Board of Directors has recommended final dividend for the year 2010-11 at the rate of 7.5% that is INR0.75 per Equity Share of INR10 each. This is in addition to interim dividend at 15% PA. Declared by the Board on November 10, 2010 with this the total dividend declared / recommended by the Board is 22.50% that is INR2.25 per Equity Share of INR10 each for the Financial Year 2010-2011.
Disclosures
under Reg.13 (6) of SEBI (Prohibition of Insider Trading) Regulations, 1992
Accord Fintech (
03 December 20111
Limited
Review for the quarter ended Sep 30, 2011
Accord Fintech (
16 November 2011
Financial
Results for Sep 30, 2011
Accord Fintech (
15 October 2011
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.50.33 |
|
|
1 |
Rs.77.96 |
|
Euro |
1 |
Rs.65.31 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
yes |
|
--LISTED |
YES/NO |
Yes |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
50 |
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.