|
Report Date : |
21.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
TITANIUM EQUIPMENT AND ANODE MANUFACTURING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Team House, GST Salai, Vandalur, Chennai – 600048, Tamilnadu |
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|
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.10.1975 |
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|
|
|
Com. Reg. No.: |
18-007017 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.8.304 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U41000TN1975PLC007017 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHET00312E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT1243P |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
To design, engineer and manufacturer chemical, textile, metallurgical
and electrolytic plant, machinery and process equipment. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1900000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having good track record. Financial position of the company is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces
a 119 year old registration. The Securities and Exchange Board of India has
approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
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.
LOCATIONS
|
Registered Office : |
Team House, GST Salai, Vandalur, Chennai – 600048, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Suresh Krishnamurthi Rao |
|
Designation : |
Whole-Time Director |
|
Address : |
33, Maharaja Surya Rao Road, Alwarpet, Chennai – 600018, Tamilnadu, India |
|
Date of Birth/Age : |
26.09.1971 |
|
Date of Appointment : |
26.12.2011 |
|
DIN No.: |
00127809 |
|
|
|
|
Name : |
Cittur Sundar Rao Ramesh |
|
Designation : |
Director |
|
Address : |
New.No.14, Old No. 41, 1st Avenue, 2-A, Abinaya Apts, Sastri Nagar,
Adyar, Chennai - 600020, Tamilnadu,
India |
|
Date of Birth/Age : |
02.05.1945 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
00019178 |
|
|
|
|
Name : |
Mr. Jayakumar Sivagnanam |
|
Designation : |
Whole-Time Director |
|
Address : |
Plot No.6, IOB Colony, Selaiyur, Chennai – 600073, Tamilnadu, India |
|
Date of Birth/Age : |
02.07.1939 |
|
Date of Appointment : |
10.11.2010 |
|
DIN No.: |
00389723 |
|
|
|
|
Name : |
Mr. C.S. Ramesh |
|
Designation : |
Additional Director |
|
Address : |
New.No.14, Old No. 41, 1st Avenue, 2-A, Abinaya Apts, Sastri Nagar,
Adyar, Chennai - 600020, Tamilnadu,
India |
|
Date of Birth/Age : |
02.05.1945 |
|
Date of Appointment : |
30.09.2013 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dr Rao Holdings Pte Limited, Singapore |
|
413592 |
|
K.M. Padma |
|
348958 |
|
Suresh Krishnamurthi Rao |
|
36000 |
|
C.S. Ramesh |
|
5 |
|
Krishna Suresh |
|
7 |
|
Chandraditya |
|
7 |
|
N. Ramachandran |
|
5 |
|
Meenakshi Ratnam |
|
31842 |
|
|
|
|
|
Total |
|
830416 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
49.81 |
|
Directors or relatives of directors |
|
50.19 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To design, engineer and manufacturer chemical, textile, metallurgical and
electrolytic plant, machinery and process equipment. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Bank of Baroda, Mylapore Branch, Mylapore, Chennai - 600004, Tamilnadu, India |
|||||||||||||||
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|||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Janakiraman and company Chartered Accountants |
|
Address : |
43, Maharaja Surya Road, Alwarpet, Chennai – 600018, Tamilnadu, India |
|
PAN No.: |
AAAFR0910L |
|
|
|
|
Substantial Interest : |
Dr Rao Holdings Pte Limited |
|
|
|
|
Parties with Significant
Influence : |
·
Chemfab Alkalis Limited ·
Teamec Chlorates Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5250000 |
Equity Shares |
Rs.10/- each |
Rs.52.500 Millions |
|
200000 |
Preference Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.72.500
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
945957 |
Equity Shares |
Rs.10/- each |
Rs.9.460 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
830416 |
Equity Shares |
Rs.10/- each |
Rs.8.304 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8.304 |
8.304 |
19.114 |
|
(b) Reserves & Surplus |
467.299 |
335.432 |
79.425 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
475.603 |
343.736 |
98.539 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
12.765 |
10.860 |
0.356 |
|
(c) Other long term liabilities |
30.000 |
30.000 |
30.000 |
|
(d) long-term provisions |
1.575 |
3.725 |
1.457 |
|
Total Non-current
Liabilities (3) |
44.340 |
44.585 |
31.813 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
15.742 |
38.754 |
15.000 |
|
(b) Trade payables |
71.991 |
21.101 |
8.247 |
|
(c) Other current liabilities |
43.370 |
44.875 |
4.814 |
|
(d) Short-term provisions |
30.194 |
10.503 |
3.926 |
|
Total Current
Liabilities (4) |
161.297 |
115.233 |
31.987 |
|
|
|
|
|
|
TOTAL |
681.240 |
503.554 |
162.339 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
168.648 |
154.099 |
109.319 |
|
(ii) Intangible Assets |
0.314 |
0.263 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
12.946 |
12.946 |
18.342 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
52.589 |
2.227 |
0.489 |
|
(e) Other Non-current assets |
0.500 |
0.500 |
0.000 |
|
Total Non-Current
Assets |
234.997 |
170.035 |
128.150 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
42.839 |
39.089 |
0.282 |
|
(b) Inventories |
152.332 |
155.974 |
9.186 |
|
(c) Trade receivables |
148.423 |
65.965 |
17.217 |
|
(d) Cash and cash equivalents |
86.990 |
67.831 |
6.408 |
|
(e) Short-term loans and advances |
12.241 |
3.424 |
0.649 |
|
(f) Other current assets |
3.418 |
1.236 |
0.447 |
|
Total Current
Assets |
446.243 |
333.519 |
34.189 |
|
|
|
|
|
|
TOTAL |
681.240 |
503.554 |
162.339 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
552.742 |
332.539 |
48.362 |
|
|
|
Other Income |
36.965 |
16.551 |
20.720 |
|
|
|
TOTAL (A) |
589.707 |
349.090 |
69.082 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
154.010 |
124.537 |
12.675 |
|
|
|
Purchase of stock in trade |
17.917 |
14.747 |
4.484 |
|
|
|
Change in inventories of finished goods and work in progress |
6.404 |
(34.369) |
2.042 |
|
|
|
other Direct manufacturing expenses |
39.347 |
29.732 |
1.963 |
|
|
|
Employee benefits expenses |
80.080 |
74.317 |
10.237 |
|
|
|
Other expenses |
88.096 |
68.507 |
8.650 |
|
|
|
Exceptional items |
0.000 |
0.100 |
0.000 |
|
|
|
TOTAL (B) |
385.854 |
277.571 |
40.051 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
203.853 |
71.519 |
29.031 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.082 |
5.514 |
2.538 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
199.771 |
66.005 |
26.493 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.387 |
5.896 |
1.054 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
193.384 |
60.109 |
25.439 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
60.036 |
15.520 |
8.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
133.348 |
44.589 |
17.416 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
23.389 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
133.348 |
44.589 |
40.805 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
161.00 |
54.00 |
71.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
22.61 |
12.77 |
25.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
34.99 |
18.08 |
52.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.94 |
12.25 |
17.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.17 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03 |
0.11 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.77 |
2.89 |
1.07 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
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 |
Yes |
|
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 |
No |
BACKGROUND
The company is a small and medium sized
company as defined in the general instructions in respect of accounting
standards, notified under the companies act 1956,. Accordingly, the company has
complied with the accounting standards as applicable to a small and medium
sized company.
AMALGAMATION OF TEAMO HITECH ENGINEERING LIMITED
(a) The transferor company was mainly engaged
in the business of design and manufacture of process equipment, metal amodes
and purification and sale of packaged drinking water.
(b) The amalgamation has been given effect to
under the pooling of Interest method as prescribed by the accounting standard 14.
Pursuant to the scheme, the company has recorded the assets and liability of
Teamo Hitech Engineering Limited (the transferor company) in the same from as
they were appearing in the books of the company at the close of the business
hours on the day immediately preceding the appointed day under the scheme,
namely the 1st April 2011 at their respective book values. The
scheme has accordingly been given effect to in these accounts vide the hon’ble
high court of madras order 13.12.2011 vide company petion no. 159 and 160 of
2011.
(c) The net surplus in the value of the net
worth of the amalgamating company that arose on the share exchange ration
amounting to Rs. 3.056 Millions has been credited to the general reserve
account of the company as per Scheme, during the year 2011-2012.
(d) Pursuant to the scheme of amalgamation
each of the shareholders of Teamo Hitech Engineering Limited shall be allotted
three equity shares of Rs. 10/- each, of this company credit as fully paid up,
for every 7 equity shares of Rs. 10/- each, held by them in Teamo Hitech
Engineering Limited. Accordingly 586633 Equity Shares of this company have been
allotted to the shareholders of Teamo Hitech Engineering Limited, in the year
2011-2012.
OPERATIONS
During the year, the Company's turnover was Rs. 552.742 Millions as against Rs. 332.539 Millions in the previous year. The Order Book for the current year shows an encouraging trend and your Directors expect that the Company would record at least a 20% increase in the turnover during the current year.
The company, to, achieve the exponential growth as targeted, has ventured in to a product line viz., Electro-Chlorination. This system is used for water and wastewater disinfection, anti-bio fouling in industrial water applications and marine growth prevention in sea-water intake for power plants and off-shore oil and gas installations. The company has identified the huge potential in this line of business and has planned for necessary infrastructure and man power.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10240079 |
03/09/2010 |
205,000,000.00 |
BANK OF BARODA |
NO 153 LUZ CHURCH ROAD, MYLAPORE, CHENNAI, TAMILNADU - 600004, INDIA |
A95109807 |
FIXED ASSETS
TANGIBLE ASSETS
· Land
· Building
· Plant and Equipment
· Furniture and Fixture
· Vehicle
· Office Equipment
· Sliver Article
· Electrical Installation
INTANGIBLE ASSETS
· Computer Software
· Licence for Software
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.62.24 |
|
|
1 |
Rs.101.81 |
|
Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
54 |
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.