MIRA
INFORM REPORT
|
Report No. : |
306233 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
FMC INDIA PRIVATE LIMITED |
|
|
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|
Registered
Office : |
“Embassy Star” No. 8, 1st Floor, |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
06.04.2000 |
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Com. Reg. No.: |
08-032004 |
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Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
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CIN No.: [Company Identification
No.] |
U02429KA2000PTC032004 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRF00776G |
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PAN No.: [Permanent Account No.] |
AAACF4579N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Pesticides and other agro chemical products. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2014. However, trade relation is fair. Business is active. Payment terms are
reported to be slow buT correct. The company can be considered for business dealings with some
cautions. |
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, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2014.
LOCATIONS
|
Registered Office : |
“Embassy Star” No. 8, 1st Floor, Palace Road, High Ground,
Bangalore – 560052, Karnataka, India |
|
Tel. No.: |
91-80-40099300/22384311 |
|
Fax No.: |
91-80-22385255/22385255 |
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E-Mail : |
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|
Website : |
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|
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|
Factory : |
17 / 2, High Grounds, |
|
Tel. No.: |
91-80-22384311 / 22 |
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Fax No.: |
91-80-22385255 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on: 25.08.2014
|
Name : |
Mr. Sartaj Sewa Singh |
|
Designation : |
Managing director |
|
Address : |
Flat No. 401, Bridge Coronet 16, Palace Road, High Grounds, Bangalore
– 560052, Karnataka, India |
|
Date of Birth/Age : |
27.05.1957 |
|
Date of Appointment : |
29.04.2000 |
|
DIN No.: |
01820913 |
|
|
|
|
Name : |
Mr. Sunil Yashpal Kohli |
|
Designation : |
Director |
|
Address : |
1152. Sobha Althea, Nagenahalllsnhalli P.O., Yelahanka Bangalore –
560064, Karnataka, India |
|
Date of Birth/Age : |
18.08.1961 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
02007446 |
|
|
|
|
Name : |
Mr. Prakash Subramanian |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 506, Block J, Purva Venezia Major sanded, Unikrishna Road, Yelahanka,
Bangalore – 560064, Karnataka, India |
|
Date of Birth/Age : |
10.04.1966 |
|
Date of Appointment : |
12.12.2013 |
|
DIN No.: |
06792921 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
FMC Agricultural Products Intertional AG |
|
99990 |
|
FMC Chemical International AG |
|
10 |
|
Total |
|
100000 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.08.2014
|
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 : |
Manufacturers of Pesticides and other agro chemical products. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Auditors : |
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|
Name : |
BSRR and Company Chartered Accountants |
|
Address : |
Maruti Info-Tech Centre 11-12/1, Inner Ring Road, Koramangala,Bangalore-560071, Karnataka, India |
|
Tel. No.: |
91-80-39806000 |
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Fax No.: |
91-80-39806999 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
· FMC Agricultural Products International AG, Switzerland |
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Ultimate holding
company |
· FMC Corporation, USA |
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Name of the parties
under common control with whom transactions have taken place during the year: |
· FMC Agricultural Products International, AG, Hong Kong · FMC Chemicals Limited, UK · Mineral Del Altiplano S.A · FMC Biopolymer, USA · FMC Enterprise Management (Shanghai) company Limited, Shanghai · FMC United (Private) Limited · FMC Specialty Chemicals (Zhangjiagang) Company Private Limited. · FMC Asia / Pacific, USA · FMC Chemical, Sprl - APG – Brussels · FMC Asia / Pacific, Hong Kong · FMC Australasia Private Limited · FMC Chemical International AG · FMC Chemical (Thailand) company Limited · FMC Chemical, Sprl |
CAPITAL STRUCTURE
As on 25.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900,000 |
Equity Shares |
Rs.100/- each |
Rs. 90.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
247.646 |
375.715 |
479.492 |
|
(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) |
257.646 |
385.715 |
489.492 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
154.061 |
146.383 |
36.782 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
4.813 |
4.989 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
158.874 |
151.372 |
36.782 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
228.745 |
253.016 |
56.233 |
|
(b) Trade payables |
786.819 |
559.334 |
373.653 |
|
(c) Other current
liabilities |
87.502 |
63.625 |
80.648 |
|
(d) Short-term provisions |
10.538 |
10.748 |
0.666 |
|
Total Current Liabilities (4) |
1113.604 |
886.723 |
511.200 |
|
|
|
|
|
|
TOTAL |
1530.124 |
1423.810 |
1037.474 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
184.813 |
185.863 |
118.087 |
|
(ii) Intangible Assets |
0.279 |
0.594 |
0.912 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
8.136 |
|
(d) Long-term Loan and Advances |
48.607 |
48.851 |
32.567 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
233.699 |
235.308 |
159.702 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
514.319 |
603.100 |
445.238 |
|
(c) Trade receivables |
671.040 |
483.563 |
281.936 |
|
(d) Cash and cash
equivalents |
11.733 |
13.183 |
62.622 |
|
(e) Short-term loans and
advances |
99.333 |
88.656 |
87.976 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1296.425 |
1188.502 |
877.772 |
|
|
|
|
|
|
TOTAL |
1530.124 |
1423.810 |
1037.474 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2563.182 |
2145.170 |
1912.988 |
|
|
|
Other Income |
171.569 |
89.468 |
59.597 |
|
|
|
TOTAL |
2734.751 |
2234.638 |
1972.585 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2795.099 |
2284.375 |
1858.013 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(60.348) |
(49.737) |
114.572 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
22.950 |
16.457 |
6.724 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
(83.298) |
(66.194) |
107.848 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
44.771 |
29.448 |
23.210 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/(LOSS) BEFORE TAX |
(128.069) |
(95.642) |
84.638 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
8.136 |
24.034 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/(LOSS) AFTER TAX |
(128.069) |
(103.778) |
60.604 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
375.715 |
479.493 |
418.889 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
247.646 |
375.715 |
479.493 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
technical Service |
171.569 |
89.468 |
59.597 |
|
|
|
Sale of specialty Chemicals |
9.283 |
18.907 |
12.098 |
|
|
TOTAL EARNINGS |
180.852 |
108.375 |
71.695 |
|
|
|
|
|
|
|
|
|
|
Earnings(Loss) Per Share (Rs.) |
(1280.69) |
(1037.78) |
606.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(5.00) |
(4.84) |
3.17 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(2.35) |
(2.32) |
5.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.37) |
(6.72) |
8.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.50) |
(0.25) |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.49 |
1.04 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.34 |
1.72 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
479.492 |
375.715 |
247.646 |
|
Net worth |
489.492 |
385.715 |
257.646 |
|
|
|
|
|
|
long-term borrowings |
36.782 |
146.383 |
154.061 |
|
Short term borrowings |
56.233 |
253.016 |
228.745 |
|
Total borrowings |
93.015 |
399.399 |
382.806 |
|
Debt/Equity ratio |
0.190 |
1.035 |
1.486 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1912.988 |
2145.170 |
2563.182 |
|
|
|
12.137 |
19.486 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1912.988 |
2145.170 |
2563.182 |
|
Profit/Loss |
60.604 |
(103.778) |
(128.069) |
|
|
3.17% |
(4.84%) |
(5.00%) |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
BUSINESS OPERATIONS:
The Company achieved a new landmark in revenues, crossing Rs. 2500.000 Millions milestone. During the current year, the Company achieved a Gross Turnover of Rs. 2563.182 millions, an increase of 19.49 % over last year’s Gross Turnover of Rs. 2145.174 millions. The Net Sales of the Company grew by 18.86% from Rs. 2121.026 millions in FY 2012-13 to Rs. 2521.021 millions in FY 2013-14. Due to unfavorable business environment in the forms of below normal rainfall, depressed market demand and weak currency parity, the company posted a net loss after tax for the current year is Rs. 128.069 millions as against a net loss after tax of Rs.103.778 millions in the previous year.
Agricultural Products
Division:
The Agricultural Products Division showed a 28% growth on sales over last year.
a) Crop Segment:
The Crop segment of Agricultural Products Division showed a 26% growth on sales over last year. Aided by a favorable monsoon,
Indian agricultural production bounced back in the current year, after a year of low growth in the previous year when the monsoons delivered uneven and deficient rainfall. The Financial year 2013-14 started on a positive note, with predictions of a good monsoon.
The industry performance was good in the first half of the year as most parts of the country barring North East received normal rains; the Company also registered a good growth. However, the third quarter did not prove to be conductive. Cyclone, Phailin, hitting the key costal states and Cyclone, Helen, creating flood like situation in most of the south eastern states, damaging badly the Kharif crops like paddy, cotton, chili and Bengal gram in the states of Andhra Pradesh, West Bengal, Odisha and Bihar. This was further aggravated by continuous rains.
As per the advance estimates the agricultural and allied sectors will witnessed a growth of 4.6% in 2013-14, as compared to 1.4% in 2012-13 ( ), the Agricultural Products Division of your company managed to hold its premium position Source: NCAER for its key formulations. The Division continued to expand its market reach through constructive partnerships with our alliance partners and through geographic expansion of our distribution network. The focus on traded products to enhance the product portfolio and bring in intrinsic value by converting some of them into brands of their own continued with vigor and success during the year. Focused and strategic on-field marketing programs derived very positive response from the trade and farmers.
Inflationary pressure and cost increases on most of the inputs, unfavorable exchange rate to the US Dollar and tight market conditions were the key reasons for the decline in gross margins during the year. Regulatory trials and field development initiatives undertaken in large scale to support registration data requirement for new products launches for calendar year 2015 onwards added to the expenditure line. This coupled with the high utilizing of bank credit to manage delayed customer payments due to tight market condition, negative market sentiments and exchange loss on import of material, resulted in the Division showing a loss for the second time in a decade.
The Agricultural Products Division is investing in developing a strong pipeline of products for the future and the various projects are in different stages of implementation with new product launches planned every year for the next five years.
b) Non- Crop Segment
(NCS)
The Company’s effort in building a robust portfolio in the Non-Crop segment, to secure the needs of specific industries and some home segments, gained momentum during the year. The year also saw consolidation of the non-crop business through increased demand of our products in the wood protection and construction business for termite control. The share of NCS sales was 9% of total revenue. The NCS segment of Agricultural Products Division showed a 15% growth on sales over last year. The NCS portfolio gives an opportunity to the Company to serve the emerging needs of the construction industry and home segments by providing quality solution for termite and home pests like mosquitoes. Your Company has also started to leverage its crop distribution channel to supply its non-crop solutions. The Company plans for new products launches for calendar year 2014 onwards, which will help in sustainable and profitable growth in the future.
Company Overview:
The Company incorporated on 6 April 2000, is in the business of agro chemicals and lithium (chemicals). In addition, the Company renders technical services to FMC Agricultural Products International AG, Hong Kong ranch and FMC Corporation, United States of America (USA) under a Master Contract and a Commercial Services Contract. The Company is a fully held subsidiary of FMC Agricultural Products International AG, Switzerland. The ultimate holding company is FMC Corporation, USA.
Note: Registered Office
of the company has been shifted from “NO.17/2, PALACE ROAD, HIGH GROUNDS,
BANGALORE-560052, KARNATAKA INDIA” to the present address w.e.f. 29.01.2009.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Deposits from others |
37.439 |
29.244 |
|
Other loans and advances |
116.622 |
117.139 |
|
Total |
|
|
|
|
|
|
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
228.745 |
253.016 |
|
|
|
|
|
Total |
382.806 |
399.399 |
INDEX OF CHRGES:
NO INDEX OF CHRGES
FIXED ASSETS:
· Land
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Computer 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.61.74 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.