1. Summary Information
|
|
|
Country |
|
|
Company Name |
HYSCO STEEL INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Lee Sang Kook |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Jeon Bok Lee |
|
|
|
Registration # |
18-060275 |
|
Street Address |
No.49 |
||
|
Established Date |
20.06.2006 |
SIC Code |
- |
|
Telephone# |
91-44-27658355 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-27658356 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Cold Rolled Sheets |
|
|
# of employees |
Not Available |
Product Name 2 |
Galvanized Steel |
|
Paid up capital |
Rs. 463,839,000/- |
Product Name 3 |
- |
|
Shareholders |
Foreign Holdings – 100% |
Banking |
HDFC
Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba [46] |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
- |
Hyundai Hysco
Company Limited |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,089,643,000 |
Current Liabilities |
1,000,309,000 |
|
Inventories |
3,299,928,000 |
Long-term Liabilities |
2,848,519,000 |
|
Fixed Assets |
503,514,000 |
Other Liabilities |
15,409,000 |
|
Deferred Assets |
0 |
Total Liabilities |
3,864,237,000 |
|
Invest& other Assets |
378,000 |
Retained Earnings |
565,387,000 |
|
|
|
Net Worth |
1,029,226,000 |
|
Total Assets |
4,893,463,000 |
Total Liab. & Equity |
4,893,463,000 |
|
Total Assets (Previous Year) |
4,085,968,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
15,133,500,000 |
Net Profit |
287,600,000 |
|
Sales(Previous yr) |
14,128,918,000 |
Net Profit(Prev.yr) |
625,319,000 |
MIRA
INFORM REPORT
|
Report Date : |
24.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
HYSCO STEEL INDIA PRIVATE LIMITED [w.e.f. 19.04.2011] |
|
|
|
|
Formerly Known
As : |
HYSCO STEEL INDIA LIMITED |
|
|
|
|
Registered
Office : |
No.49 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.06.2006 |
|
|
|
|
Com. Reg. No.: |
18-060275 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.463.839 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104TN2006PTC060275 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEH03943C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH7074D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, exporter and importer of cold rolled sheets, galvanized
steel, steel-electro. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba [46] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
USD 4110000 |
|
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Subject is a
subsidiary of Hyundai Hysco Company Limited, It is an
established company having satisfactory track. financial position of the company
is improving. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. 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 |
LOCATIONS
|
Registered Office/Factory : |
No.49 |
|
Tel. No.: |
91-44-27658355 |
|
Fax No.: |
91-44-27658356 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
Flat No. 2A, No.40 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Lee Sang Kook |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Flat No. 2A, Jeyamkondar Apartments, No.40, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
15.08.1960 |
||||||||||||||||||||||||
|
Date of Appointment : |
20.06.2006 |
||||||||||||||||||||||||
|
DIN : |
01282683 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Jeon Bok Lee |
||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||
|
Address : |
|
||||||||||||||||||||||||
|
Date of Birth/Age : |
16.09.1958 |
||||||||||||||||||||||||
|
Date of Appointment : |
22.01.2010 |
||||||||||||||||||||||||
|
DIN : |
02962490 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Bong Jin Park |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Eunma Apartment, 31-1007, 316, Daechi - Dong Gangnam Gu Seoul
Metropolitan, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
30.08.1957 |
||||||||||||||||||||||||
|
Date of Appointment : |
02.09.2010 |
||||||||||||||||||||||||
|
DIN : |
03033424 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Kabyong Kim |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Sejong Hotels Private Limited, 1/10, Ramanayaki Apartments, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
06.09.1967 |
||||||||||||||||||||||||
|
Date of Appointment : |
02.09.2010 |
||||||||||||||||||||||||
|
DIN : |
03191472 |
||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Hyundai Hysco Company Limited, |
|
463833 |
|
Won Kab Kim (Nominee Of Hyundai) |
|
1 |
|
Hee Bong Ahn(Nominee Of Hyundai) |
|
1 |
|
Sang Kook Lee(Nominee Of Hyundai |
|
1 |
|
Young Hun Shin(Nominee Of Hyundai) |
|
1 |
|
Sang Sick Sung(Nominee Of Hyundai) |
|
1 |
|
Kyung Suk Kim (Nominee Of Hyundai) |
|
1 |
|
Total |
|
463839 |
As on 30.09.2011
|
Equity Share
Break Up Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie’s Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, exporter and importer of cold rolled sheets, galvanized
steel, steel-electro. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS [As on 31.03.2011]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Processed Finished Goods |
MT |
NA |
200,000 |
170,424 |
|
* As certified by the
Management. The installed capacity is on a triple shift basis. |
||||
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
Secured Loans : The Company has obtained foreign currency loans from various banks in the nature of Buyers Credit. The details of such loans as at 31 March 2011
|
Name of the Bank |
Nature of the security/ Guarantee |
Amount of charge |
Amount of Loan |
|
HDFC |
Note (i) |
900.000 |
571.990 |
|
Standard Chartered Bank |
Note (ii) |
600.000 |
600.000 |
|
Total |
1171.990 |
||
Notes
i. Hypothecation by way of pari passu first charge in favour of the bank on all the Stock-in-trade, Book Debts and movable Plant and Machinery of the Company, both present and future. Further, the Company has also created a mortgage of title deeds of immovable properties in favour of the bank for which it proposes to file for Modification with the Registrar of Companies (RoC) for including the mortgage.
ii. First charge by way of Hypothecation of movable properties, stocks and Book debts and equitable mortgage of title deeds of immovable Properties in favour of the bank.
Unsecured Loans
|
Name of the Bank |
Amount
of Loan |
Remarks |
|
Standard Chartered
Bank |
830.258 |
The Holding
Company, Hyundai Hysco Company Limited, |
|
Citi Bank |
401.734 |
|
|
Korean Exchange
Bank |
444.537 |
|
|
Total |
1676.529 |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendran Viji and Company Chartered Accountants |
|
Address : |
207, Bharathi Salai, Royapettah, Chennai – 600014, |
|
PAN : |
AAAFR0728C |
|
|
|
|
Holding Company : |
Hyundai Hysco
Company Limited |
|
|
|
|
Associate : |
Hyundai Motor India
Limited CIN :
U29309TN1996PLC035377 |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.1000/- each |
Rs.500.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
463,839 |
Equity Shares |
Rs.1000/- each |
Rs.463.839
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
463.839 |
463.839 |
463.839 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
565.387 |
277.769 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
[347.550] |
|
|
NETWORTH |
1029.226 |
741.608 |
116.289 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1171.990 |
623.234 |
1142.655 |
|
|
2] Unsecured Loans |
1676.529 |
1073.786 |
1415.271 |
|
|
TOTAL BORROWING |
2848.519 |
1697.020 |
2557.926 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3877.745 |
2438.628 |
2674.215 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
503.514 |
591.723 |
662.969 |
|
|
Capital work-in-progress |
0.378 |
0.000 |
0.619 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
121.524 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3299.928
|
2477.562 |
2730.213 |
|
|
Sundry Debtors |
539.451
|
585.123 |
643.885 |
|
|
Cash & Bank Balances |
134.222
|
23.570 |
160.528 |
|
|
Other Current Assets |
35.783
|
112.185 |
0.031 |
|
|
Loans & Advances |
380.187
|
295.805 |
361.458 |
|
Total
Current Assets |
4389.571
|
3494.245 |
3896.115 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
831.617
|
1526.510 |
1932.727 |
|
|
Other Current Liabilities |
168.692
|
67.456 |
72.254 |
|
|
Provisions |
15.409
|
53.374 |
2.031 |
|
Total
Current Liabilities |
1015.718
|
1647.340 |
2007.012 |
|
|
Net Current Assets |
3373.853
|
1846.905 |
1889.103 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3877.745 |
2438.628 |
2674.215 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15133.500 |
14128.918 |
13008.477 |
|
|
|
Gain on foreign exchange fluctuation |
0.000 |
486.662 |
0.000 |
|
|
|
Other Income |
213.400 |
68.732 |
116.717 |
|
|
|
TOTAL (A) |
15346.900 |
14684.312 |
13125.194 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials |
|
13587.400 |
12289.888 |
|
|
|
Employee costs |
|
38.841 |
33.429 |
|
|
|
General and administration Expenses |
|
65.738 |
87.801 |
|
|
|
Loss on foreign exchange fluctuation |
|
9.281 |
841.194 |
|
|
|
Preliminary expenses written off |
|
0.000 |
1.439 |
|
|
|
TOTAL (B) |
14579.200 |
13701.260 |
13253.751 |
|
|
|
|
|
|
|
|
|
PROFIT/[LOSS]
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
767.700 |
983.052 |
[128.557] |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
88.576 |
198.195 |
|
|
|
|
|
|
|
|
|
|
PROFIT/[LOSS]
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
173.200 |
894.476 |
[326.752] |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
110.675 |
125.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
BEFORE TAX (E-F) (G) |
594.500 |
783.801 |
[452.129] |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
306.900 |
158.482 |
[135.322] |
|
|
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
AFTER TAX (G-H) (I) |
287.600 |
625.319 |
[316.807] |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
[347.550] |
[30.743] |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
277.769 |
[347.550] |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
0.521 |
2.238 |
NA |
|
|
TOTAL EARNINGS |
0.521 |
2.238 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
5.250 |
- |
- |
|
|
|
Raw Materials |
3299.307 |
9253.248 |
10227.555 |
|
|
|
Traded Goods |
6596.526 |
- |
- |
|
|
TOTAL IMPORTS |
9901.083 |
9253.248 |
10227.555 |
|
|
|
|
|
|
|
|
|
|
Earnings/[Loss]
Per Share (Rs.) |
620.08 |
1348.14 |
[1016.61] |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.87
|
4.26 |
[2.41] |
|
|
|
|
|
|
|
(PBT/Sales) |
(%) |
3.93
|
5.55 |
[3.47] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.15
|
19.18 |
[9.92] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
1.06 |
[3.89] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.75
|
4.51 |
39.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.32
|
2.12 |
1.94 |
LOCAL AGENCY FURTHER INFORMATION
Background
The Company is a wholly owned subsidiary of Hyundai Hysco
Company Limited,
Operation During the year, the Company posted moderate Increase in Turn Over to the tune of Rs.1030.000 millions (7% Increase) as compared to the previous year. However due to increase in material and value added cost the Profit of the company has been reduced by Rs.189.300 millions
Future Outlook The Order Booking for the Current Year
is encouraging and the company is taking Conscious efforts to bring down the
Material and value added cost in the ensuing Financial Year. The company is
confident of Posting Higher Turnover and Profit for the ensuing financial year.
Contingent Liabilities [As on 31.03.2011]
a. Outstanding Bank
Guarantee – Rs. Nil (Previous year – Rs. 2.480 millions)
b. The estimated
amount of contracts, net of advances, remaining to be executed on capital
account and not provided for as at 31 March 2011 is Rs. Nil (As at 31 March
2010 - Rs. Nil)
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27104TN2006PTC060275 |
|
Name of the
company |
HYSCO STEEL INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No.49, |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10260520 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India Email : sathish.ramanathan@hdfcbank.com
|
|
Nature of
instrument creating charge |
Supplemental
Memorandum of Entry for equitable mortgage by constructive delivery of title
deeds relating to immovable properties of the Company dated 20th May, 2011. |
|
Date of
instrument Creating the charge |
20.05.2011 |
|
Amount secured by
the charge |
Rs.900.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
- Any such rate as may be advised to the Company from time to time in respect
of the credit facilities. Terms of
Repayment - Repayable on Demand. Margin - As may
be prescribed by the Bank from time to time for the credit facilities. Extent and
Operation of the charge - The Company created charge by way of equitable
mortgage by deposit of title deeds by way of constructive delivery in respect
of immovable properties of the Company as security for repayment of credit
facilities aggregating to Rs.900.000 millions granted to the Company along
with interest, costs, charges and
other dues that may any time hereafter
become due and owing to the bank in respect of and under the credit
facilities |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
EM of all those
pieces and parcels of land together with all Buildings, Structures, erections
and godowns erected / to be erected thereon and Plant and Machinery attached
to the earth or permanently fastened to anything attached to the earth now or
hereafter to be erected thereon situate at Sengadu Village, Sriperumbudur
Taluk, Kancheepuram District, comprised in the Sy. Nos. and extents as
described in the attached supplemental memorandum of entry total admeasuring
1.51 Acres (1 Acre Undivided share out
of 1.51 Acres) to be used as a common private pathway of 60 ft. width and
situate within the Sub-Registration District of Sriperumbudur, in the
Registration Dsitrict of Kancheepuram. |
|
Particulars of
the present modification |
By the present
modification, credit facilities of Rs.900.000 millions granted to the Company
have been further secured by way of equitable mortgage by deposit of title
deeds by constructive delivery relating to immovable properties of the
Company. |
FIXED ASSETS :
§
Land
§
Building
§
Plant and Machinery
§
Furniture and Fixtures
§
Computer
§
Software
§
Office Equipments
§
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.50.24 |
|
|
1 |
Rs.78.12 |
|
Euro |
1 |
Rs.64.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.