MIRA INFORM REPORT

 

 

Report Date :

14.01.2013

 

IDENTIFICATION DETAILS

 

Name :

C AND S ELECTRIC LIMITED (w.e.f. 03.12.2008)

 

 

Formerly Known As :

CONTROLS AND SWITCHGEAR COMPANY LIMITED

 

 

Registered Office :

222 Okhla Industrial Estate, New Delhi-110020

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

15.06.1971

 

 

Com. Reg. No.:

55-005672

 

 

Capital Investment / Paid-up Capital :

Rs.44.228  Millions

 

 

CIN No.:

[Company Identification No.]

U31909DL1971PLC005672

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELC06422D

 

 

PAN No.:

[Permanent Account No.]

AAACC0909K

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Supplier, Distributor, Manufacturer, Exporter of Power Generators Alternators, Switches and Sockets Relays.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 14000000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a flagship company of “Controls and Switchgear Group.”

 

It is a well established company having a satisfactory track record. The management have failed to file its latest financial with the government department.

 

As per previous year’s, the company performance seems to be strong. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment.

 

The company can be considered for normal business dealings at usual trade terms and condition.

 

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 – June 30, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

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

 

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

ICRA

Rating

Term loan :- (ICRA) A-

Rating Explanation

(ICRA) A- :- having adequate degree of safety regarding timely serving of financial obligations. It carry low credit risk.

Date

June 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.

 

 

LOCATIONS

 

Registered Office/ Head Office/ Work :

222 Okhla Industrial Estate, New Delhi-110020, India

Tel. No.:

91-11-30887520/ 29

Fax No.:

91-11-26847154/ 26829063

E-Mail :

jaideep.malhotra@cselectric.co.in

info@cselectric.co.in

cmo@cselectric.co.in

Website :

http://www.cselectric.co.in

 

 

Factory 1 :

A-7 and 8, Sector-VIII, Noida-201301, District Gautam Budh Nagar, Uttar Pradesh, India

Tel. No.:

91-120-3914301/ 02

Fax No.:

91-120-3914303

 

 

Factory 2 :

C-59, Phase-II, Noida-201305, District Gautam Budh Nagar, Uttar Pradesh, India

Tel. No.:

91-120-3048800/ 02

Fax No.:

91-120-3048801

 

 

Factory 3 :

C-58, Phase-II, Noida-201305, District Gautam Budh Nagar, Uttar Pradesh, India

Tel. No.:

91-120-3048709

Fax No.:

91-120-32042149

 

 

Factory 4 :

B-1, Site-IV, Surajpur Industrial Area, Kasna Road, Greater Noida, District Gautam Budh Nagar, Uttar Pradesh, India

Tel. No.:

91-120-3914500/ 01

Fax No.:

91-120-2341896

 

 

Factory 5 :

44, Okhla Industrial Estate, Phase-III, New Delhi-110020, India

Tel. No.:

91-11-30883763

Fax No.:

91-11-26832259

 

 

Factory 6 :

NSEZ

Plot No. 63, NSEZ, Noida-201305, Uttar Pradesh, India

Tel. No.:

91-120-3074391

Fax No.:

91-120-3042149

 

 

Factory 7 :

1C, Sector-8C, Integrated Industrial Estate, Ranipur, Haridwar-249403, Uttarakhand, India

Tel. No.:

91-1334-239551/ 52

Fax No.:

91-1334-239292

 

 

Factory 8 :

Plot No. 1B, Sector-8C, Integrated Industrial Estate (SIDCUL), Ranipur, Haridwar-249403, Uttarakhand, India

Tel. No.:

91-1334-308101/ 02

Fax No.:

91-1334-239694

 

 

Factory 9 :

Plot No. 1A Sector – 11, Integrated Industrial Estate (SIDCUL), Ranipur, Haridwar , Uttarakhand – 249403, India

Tel. No.:

91-1334-239212

Fax No.:

91-1334-239217

 

 

Factory 10 :

Plot No. 1A/3, Sector-8 C, Integrated Industrial Estate (SIDCUL), Ranipur, Haridwar , Uttarakhand – 249403, India

Tel. No.:

91-1334-300800

Fax No.:

91-1334-300801

 

 

Factory 11 :

Plot No. 10, Sector-11, Integrated Industrial Estate (SIDCUL), Ranipur, Haridwar , Uttarakhand – 249403, India

Tel. No.:

91-1334-315215

 

 

Factory 12 :

Plot No. 2, Sector-8 C, Integrated Industrial Estate (SIDCUL), Ranipur, Haridwar , Uttarakhand – 249403, India

Tel. No.:

91-1334-308130-144

Fax No.:

91-1334-308139

 

 

Factory 13 :

C AND S CHINA PLANT No.2, Wangyang Industry Park, Zhanghishan Towen, Tongzhou city, Jiangsu Province, China – 226311

 

 

Factory 14 :

ETACOM BOOM BELGIUM PLANT, Scheldeweg – 285, Boom Belgium

 

 

Marketing Offices :

Located at:

 

·         Chandigarh

·         Ludhiana

·         Jaipur

·         Delhi

·         Lucknow

·         Ahmedabad

·         Surat

·         Baroda

·         Indore

·         Raipur

·         Kolkata

·         Pune

·         Mumbai

·         Bhubaneshwar

·         Secunderabad

·         Vijayawada

·         Bengaluru

·         Chennai

·         Coimbatore

·         Kochi

 

 

DIRECTORS

 

AS ON 30.09.2011

 

Name :

Mr. Justice Prem Nath Khanna (Retired)

Designation :

Director

Address :

13, Ishwar Nagar, Mathura Road, New Delhi-110065, India

Date of Birth/Age :

28.01.1912

Date of Appointment :

01.07.1974

 

 

Name :

Mr. Prithvi Raj Khanna

Designation :

Director

Address :

70, Sunder Nagar, New Delhi-110003, India

Date of Birth/Age :

02.07.1933

Date of Appointment :

09.07.2009

 

 

Name :

Mr. V N Koura

Designation :

Director

Address :

7, Navjiwan Vihar, New Delhi-110017, India

Date of Birth/Age :

08.04.1940

Date of Appointment :

09.07.2009

 

 

Name :

Mr. Ravinder Nath Khanna

Designation :

Director

Address :

C-69, Friends Colony, Mathura Road, New Delhi-110065, India

Date of Birth/Age :

28.01.1940

Date of Appointment :

15.06.1971

 

 

Name :

Mr. Ashok Khanna

Designation :

Director

Address :

14, Ishwar Nagar, Mathura Road, New Delhi-110065, India

Date of Birth/Age :

31.08.1945

Date of Appointment :

15.06.1971

 

 

Name :

Mrs. Kanwal Khanna

Designation :

Director

Address :

C-69, Friends Colony, Mathura Road, New Delhi-110065, India

Date of Birth/Age :

07.10.1946

Date of Appointment :

01.06.1985

 

 

Name :

Mrs. Anju Khanna

Designation :

Director

Address :

14, Ishwar Nagar, Mathura Road, New Delhi-110065, India

Date of Birth/Age :

05.07.1947

Date of Appointment :

01.06.1985

 

 

Name :

Mr. Rishi Nath Khanna

Designation :

Director

Address :

C-69, Friends Colony, Mathura Road, New Delhi-110065, India

Date of Birth/Age :

18.12.1973

Date of Appointment :

19.04.1999

 

 

Name :

Mr. Anuj Khanna

Designation :

Director

Address :

14, Ishwar Nagar, Mathura Road, New Delhi-110065, India

Date of Birth/Age :

12.07.1973

Date of Appointment :

19..04.1999

 

 

Name :

Mr. Aditya Khanna

Designation :

Director

Address :

14, Ishwar Nagar, Mathura Road, New Delhi-110065, India

Date of Birth/Age :

12.06.1978

Date of Appointment :

17.01.2005

 

 

Name :

Mrs. Radhika Kapoor

Designation :

Director

Address :

C-19, Friends Colony, New Delhi-110065, India

Date of Birth/Age :

12.01.1971

Date of Appointment :

24.07.2006

 

 

KEY EXECUTIVES

 

Name :

Mr. L K Khanna

Designation :

Secretary

Date of Appointment :

09.07.2009

PAN No :

AAAPK0919K

 

 

MAJOR SHAREHOLDERS

 

SHAREHOLDINGS DETAILS FILE ATTACHED

 

AS ON 30.09.2011

 

Equity Shares Break Up

Percentage of Holding

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

9.52

Bodies corporate

0.04

Directors or relatives of Directors

89.77

Other top fifty shareholders

0.67

TOTAL

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Supplier, Distributor, Manufacturer, Exporter of Power Generators Alternators, Switches and Sockets Relays.

 

 

Products :

Product Description

ITC Code

Switchgear

853590.13

Air Circuit Breaker

853620.01

Switch Fuse Unit

853610.01

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :
  • ING Vysya Bank Limited, Narian Manzil, Ground Floor, Shop No. G1 to G5, I Floor, Shop No. 1007, Barakhamba Road, New Delhi – 110001, Delhi, India

 

 

Facilities :

Secured Loan

 

Rs. In Millions

31.03.2011

Rs. In Millions

31.03.2010

Term Loan

225.374

219.781

Other External Commercial Borrowing

309.726

151.248

Working Capital Loan Secured

868.663

490.871

TOTAL

1403.763

861.900

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Deloittee Haskins and Sells

Chartered Accountant

Address :

7th Floor, Tower B, Building No. 10, DLF Cyber City Complex, Phase II, Gurgaon-122022, Haryana, India

PAN No.:

AABFD2095B

 

 

Associates/Subsidiaries :
  • EON TELESYSTEMS PRIVATE LIMITED, India

       CIN No – U72300DL2008PTC184889

              PAN No – AACCE0961D

  • C and S Middel East (FZE)
  • C and S (Nantog) Electric Limited, China

 

 

Joint Ventures :
  • Controls and Switchgear Himoinsa Private Limited
  • Efaces C and S MV Components Private Limited
  • C and S Eface MV India Private Limited
  • RS Components and Controls (India) Limited
  • WAGO and Controls India Limited
  • Leroy Somer and Controls India Private Limited
  • Gewiss SpA, Italy

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2011

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

28000000

Equity Shares

Rs.10/- each

Rs.280.000  Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

4422872

Equity Shares

Rs.10/- each

Rs.44.229   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

44.229

44.229

44.229

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

3586.370

3192.399

2655.310

4] (Accumulated Losses)

0.000

0.0000

0.000

NETWORTH

3630.599

3236.628

2699.539

LOAN FUNDS

 

 

 

1] Secured Loans

1403.763

861.901

915.800

2] Unsecured Loans

282.606

73.752

24.257

TOTAL BORROWING

1686.369

935.653

940.057

DEFERRED TAX LIABILITIES

108.224

87.773

82.031

 

 

 

 

TOTAL

5425.192

4260.053

3721.627

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

1790.772

1206.032

1026.258

Capital work-in-progress

303.105

285.543

180.088

 

 

 

 

INVESTMENT

631.058

653.312

436.187

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
1529.577
1128.097

1063.750

 

Sundry Debtors
2654.898
2080.836

1878.713

 

Cash & Bank Balances
354.430
103.012

157.059

 

Other Current Assets
12.718
0.000

0.000

 

Loans & Advances
302.792
315.733

266.079

Total Current Assets
4854.415

3627.678

3365.601

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
1625.514
1371.923

1180.075

 

Other Current Liabilities
179.611
79.679

52.150

 

Provisions
45.928
60.910

54.282

Total Current Liabilities
1851.053

1512.512

1286.507

Net Current Assets
3003.362

2115.166

2079.094

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

5425.192

4260.053

3721.627

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

6740.080

5994.815

5441.504

 

 

Other Income

99.933

77.626

134.417

 

 

TOTAL                                     (A)

6840.013

6072.441

5575.921

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Consumption Material Change In Inventories

4084.894

3394.500

 

 

 

Manufacturing Service Cost

386.637

276.301

 

 

 

Employee Related Expenses

887.932

794.286

 

 

 

Administrative Selling Other Expenses

682.445

673.996

 

 

 

TOTAL                                     (B)

6041.908

5139.083

4710.165

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

798.105

933.358

865.156

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

149.054

120.516

140.731

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

649.051

812.842

724.425

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

110.363

99.793

89.298

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                 (G)

538.688

713.049

635.127

 

 

 

 

 

Less

TAX                                                                  (H)

130.772

164.241

135.508

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

407.916

548.808

499.619

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

1632.068

1151.653

714.970

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

41.000

55.500

50.000

 

 

Proposed Dividend

11.057

11.057

11.057

 

 

Corporate Dividend Tax

1.794

1.836

1.879

 

BALANCE CARRIED TO THE B/S

1986.133

1632.068

1151.653

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

N.A

NA

875.743

 

TOTAL EARNINGS

N.A

NA

875.743

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials and Components

NA

NA

727.485

 

 

Stores & Spares

NA

NA

2.515

 

 

Trading Goods

NA

NA

29.086

 

 

Technical know how

N.A

N.A

19.067

 

TOTAL IMPORTS

NA

NA

778.153

 

 

 

 

 

 

Earnings Per Share (Rs.)

92.23

124.08

115.47

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)
5.96

9.04

8.96

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
7.992

11.89

11.67

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
8.11

14.75

0.46

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.14

0.22

0.23

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
0.97

0.40

0.82

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
2.62

2.40

0.28

 

 

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

Yes

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

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

 

 

Unsecured Loan

 

Rs. In Millions

31.03.2011

Rs. In Millions

31.03.2010

Term Loan

22.285

13.752

Foreign Currency Loan

60.821

60.000

Working Capital Loan

199.500

0.000

TOTAL

282.606

73.752

 

OUTLOOK:

 

The Company continues to maintain a healthy order book of Rs.5340.000 millions With such order book in hand coupled with Govt. of India’s thrust to add almost 78,000 MW of the installed generation capacity during the current 5-year plan ending fiscal year 2012, the Company expects to register a modest growth in its turnover during the current fiscal. However, on account of rising costs and consequent lower margins, the Company is making all out efforts not only to maintain its gross margins during the fiscal year 2011-12 at the previous year’s level but to improve the same.

 

 

FIXED ASSETS

 

·         Land

·         Building

·         Plant and Machinery

·         Furniture and Fixture

·         Vehicles

·         Goodwill

·         Software


 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 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.54.53

UK Pound

1

Rs.88.05

Euro

1

Rs.72.29

 

 

INFORMATION DETAILS

 

Report Prepared by :

HET

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--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

-

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.