MIRA
INFORM REPORT
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Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
BIODEAL LABORATORIES PRIVATE LIMITED |
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Registered Office : |
Shed No. 508, GIDC 2, Wadhwan City – 363035, Distt Surendranagar,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.02.1989 |
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Com. Reg. No.: |
04-11921 |
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CIN No.: [Company
Identification No.] |
U24231GJ1989PTC011921 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTB00772C |
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PAN No.: [Permanent
Account No.] |
AAACB8943 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Pharmaceutical Formulation |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 880000 |
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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 and reputed company having fine track.
General financial position is good. Business is active. Payments are reported
as usually made as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. D M Shah |
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Designation : |
Accountant |
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Date : |
01.08.2008 |
LOCATIONS
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Registered Office / Factory : |
Shed No. 508, GIDC 2, Wadhwan City – 363035, Distt Surendranagar,
Gujarat, India |
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Tel. No.: |
91-2752-243730/31/32 |
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Mobile No.: |
91-982508222 |
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Fax No.: |
91-2752-243733 |
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E-Mail : |
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Website : |
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Area : |
15690 Sq. Mtrs. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Thobhanbhai K Patel |
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Designation : |
Managing Director |
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Address : |
B/H, M I Park, Wadhwa City – 363035, Surendranagar, Gujarat, India |
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Date of Birth/Age : |
15.12.1950 |
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Date of Appointment : |
27.02.1989 |
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Name : |
Mr. Amrutlal M Nadpara |
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Designation : |
Director |
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Address : |
B/H, Gandhi Hospital, Near Rushoob Bunglow, Surendranagar – 363001,
Gujarat, India |
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Date of Birth/Age : |
10.10.1948 |
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Date of Appointment : |
27.02.1989 |
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Name : |
Dr. Jamnadas K Patel |
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Designation : |
Director |
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Address : |
B/H Swaminarayan Gurukul. Surendranagar – 363001, Gujarat, India |
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Date of Birth/Age : |
29.04.1936 |
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Date of Appointment : |
27.02.1989 |
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Name : |
Dr. Parshottam P Nadpara |
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Designation : |
Director |
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Address : |
9-B, Nilgagan Flats, Talav Gate, Junagadh – 362001, Gujarat, India |
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Date of Birth/Age : |
19.11.1944 |
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Date of Appointment : |
27.02.1989 |
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Name : |
Dr. Vallabhbhai R Vaishnav |
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Designation : |
Director |
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Address : |
Girnar Socirty, Near Motibag, Junagadh – 362 001, Gujarat, India |
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Date of Birth/Age : |
05.09.1942 |
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Date of Appointment : |
27.02.1989 |
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Name : |
Mr. Devang T Patel |
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Designation : |
Director |
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Address : |
B/H, M I Park, Wadhwan City – 363035, Surendranagar, Gujarat, India |
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Date of Birth/Age : |
27.06.1978 |
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Date of Appointment : |
01.10.199 |
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Name : |
Mr. Siddharth V Vaishnav |
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Designation : |
Director |
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Address : |
Girnar Socirty, Near Motibag, Junagadh – 362 001, Gujarat, India |
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Date of Birth/Age : |
29.10.1971 |
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Date of Appointment : |
01.10.1999 |
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Name : |
Mr. Arunbhai V Vaishnav |
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Designation : |
Director |
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Address : |
B/H Swaminarayan Gurukul. Surendranagar – 363001, Gujarat, India |
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Date of Birth/Age : |
20.03.1968 |
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Date of Appointment : |
15.08.1996 |
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Name : |
Mr. Chandrakant P Patel |
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Designation : |
Director |
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Address : |
Kotecha Tower, 4th Floor, Ramkrishna Nagar, Main Road,
Rajkot, Gujarat, India |
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Date of Birth/Age : |
11.11.1956 |
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Date of Appointment : |
01.09.2005 |
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Name : |
Mr. NItinbhai Patel |
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Designation : |
Director |
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Address : |
“Deepak” 4th Floor, Ramkrishna Nagar, Main Road, Opp. SBS,
Rajkot, Gujarat, India |
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Date of Birth/Age : |
04.01.1962 |
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Date of Appointment : |
10.09.2005 |
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Name : |
Mr. Jayantilal B Patel |
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Designation : |
Director |
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Address : |
B-104, Rajmoti Apartments, Chharavad Road, GIDC, Vapi, Gujarat, India |
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Date of Birth/Age : |
22.09.1956 |
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Date of Appointment : |
10.09.2005 |
KEY EXECUTIVES
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Name : |
Mr. Ashish C Dashi |
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Designation : |
Company Secretary |
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Address : |
10, Tripura Society, Opp. Bhagvan Nagar’s Tekro, Paldi, Ahmedabad –
380 007, Gujarat, India |
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Tel No. : |
91-79-26588848 |
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Mobile No. : |
91-9825064740 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
No. of Shares |
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Thobhanbhai K Patel |
14200 |
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Dr. Jamnadas K Patel |
10000 |
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Girdharilal M Nadpara |
12000 |
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Pravinbhai M Nadpara |
24000 |
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Ushaben P Nadpara |
16000 |
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Dr. Jamnadas K Patel (HUF) |
10000 |
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Dr. Vallabhbhai R Vaishnav |
10000 |
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Labhuben J Patel |
10000 |
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Madhuben B Patel |
20000 |
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Arunbhai J Patel |
18000 |
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Sushilaben R Patel |
54000 |
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Gitaben T Patel |
20000 |
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Kinaben S Patel |
10000 |
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Dr. Parshottam P Nadpara (HUF) |
16000 |
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Hetal P Nadpara |
8000 |
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Vijaybhai T Nadpara |
8000 |
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Pushaben V Vaishnav |
12000 |
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Jaykumar B Patel |
18000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of Director |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceutical Formulation |
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Exports : |
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Countries : |
·
Georgia ·
Kuwait |
GENERAL
INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
108 (In Office 8 and In Factory 100) |
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Bankers : |
Axis Bank, Surendranagar |
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Facilities : |
CC Rs.20.000 millions |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Dhirubhaidand and Company Chartered Accountants |
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Address : |
Gokul Chambers, 1st Floor, Jayshree Talkies Road, B/H
Liberty Talkies, Junagadh – 362 001, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.000 |
4.000 |
4.000 |
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2] Share Application Money |
0.000 |
7.500 |
0.000 |
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3] Reserves & Surplus |
171.437 |
164.728 |
125.599 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
175.437 |
176.228 |
129.599 |
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LOAN FUNDS |
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1] Secured Loans |
60.743 |
80.090 |
165.185 |
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2] Unsecured Loans |
144.663 |
113.514 |
85.791 |
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TOTAL BORROWING |
205.406 |
193.604 |
250.976 |
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DEFERRED TAX LIABILITIES |
24.749 |
18.657 |
9.554 |
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TOTAL |
405.592 |
388.489 |
390.129 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
252.011 |
266.145 |
304.371 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
4.797 |
0.297 |
0.297 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
19.180
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26.701 |
14.467 |
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Sundry Debtors |
85.398
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53.880 |
68.258 |
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Cash & Bank Balances |
6.649
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24.355 |
33.677 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
73.883
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38.301 |
21.347 |
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Total
Current Assets |
185.110
|
143.237 |
137.749 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
35.063
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19.929 |
50.251 |
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Provisions |
1.263
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1.261 |
2.050 |
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Total
Current Liabilities |
36.326
|
21.190 |
52.301 |
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Net Current Assets |
148.784
|
122.047 |
85.448 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.013 |
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TOTAL |
405.592 |
388.489 |
390.129 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
451.420 |
401.246 |
489.874 |
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Other Income |
4.392 |
1.513 |
3.404 |
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Total Income |
455.812 |
402.759 |
493.278 |
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Profit/(Loss) Before Tax |
13.894 |
20.029 |
22.782 |
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Provision for Taxation |
7.185 |
10.211 |
0.389 |
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Profit/(Loss) After Tax |
6.709 |
9.818 |
22.393 |
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Expenditures : |
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Financial Charges |
20.036 |
18.139 |
22.818 |
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Increase/(Decrease) in Finished Goods |
0.000 |
(1.500) |
2.873 |
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Depreciation & Amortization |
44.302 |
53.888 |
19.335 |
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Other Expenditure |
377.580 |
312.203 |
425.470 |
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Total Expenditure |
441.918 |
382.730 |
470.496 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.47
|
2.44 |
4.54 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.08
|
4.99 |
4.65 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.18
|
4.89 |
5.15 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.11 |
0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.38
|
1.22 |
2.34 |
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Current Ratio (Current Asset/Current Liability) |
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5.10
|
6.76 |
2.63 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
·
Abbott India Limited
·
Glenmark
Form No. 8
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Name of the company |
BIODEAL LABORATORIES PRIVATE LIMITED |
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Presented By |
T K Patel,
Managing Director |
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1) Date and description of instrument creating the change |
Composite
Hypothecation Deed dated the 9th March, 2005 executed between M/s.
Biodeal Laboratories Private Limited (therein and hereinafter called “the
Company”) of the One Part and Axis Bank, (therein and hereinafter called
“Axis Bank”) of the Other. |
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2) Amount secured by the charge/amount owing on the securities of charge |
(Rupees 111.100
millions) together with interest, liquidated damages, premium on pre payment
by the redemption, cost, expenses and other payable by the company to Axis Bank
Limited in terms of loan agreement dated on 9th March, 2005. |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The whole of the
movable plant and machinery as given in the sheet annexed hereto. The whole of the
Borrowers movable goods and assets both present and future and including
without prejudice to generality of the foregoing words all stocks of raw
material, work in process, semi-finished goods and finished goods, packing
materials, consumable stores and spares etc. whatsoever situate and or
transit whether now belonging to or that may at any time during the
continuance of this security belong to the borrower or that may be held by
any party any where to the order and disposition of the borrower. All the present
and future book-debts outstanding monies receivables claims bills contracts
engagements and securities which are now due and owing or which may at any
time hereafter during the continuance of this security become due and owing
to the borrower in the course of its business by any person, film, company or
body corporate or by the Government of India or any state Government of
Indian Railways or any government department or office or any Municipal or
local or public or semi-government body or authority whatsoever including
those relating to the assets leased out and/or given on hire purchase basis. All the goods,
stocks, raw materials, land and buildings, plant, machinery, fixtures,
implements, fittings and other installations, furniture, vehicles, computers,
and all other articles, equipments and things both present and future whether
movable or immovable, whether installed and or fastened to earth or not,
whether lying loose or in cases, at site or transit or which may at any time
hereafter during the continuance of this security be installed or lying loose
or in case of being in or upon or about the Borrower’s all the movable plant
and Machinery, furniture, fittings, fixtures etc. both present and future,
being movable properties, now stored at or being stored or which may
hereafter be brought into or stored at or at present installed at its unit at
508, GIDC Estate, Wadhwan, Dist. Surendranagar or wherever else the same may
be or be held by any party anywhere to the order and disposition of the
borrower described in general terms in the schedule thereto (all of which are
hereafter referred to as “Hypothecated property” and more particularly
described in the Schedule II A and B). |
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4) Gist of the terms and conditions and extent and operation of the charge. |
For Term Loan Interest – Rupee
BPLR – 2.50% i.e. 9.50% p.a. payable monthly. Foreign Currency
Term Loan – 6 months LIBOR+350 basis points. Interest payable monthly and
shall be reset every year. Margin – 25% Repayment – 16
quarterly installments of Rs.5.694 millions repayment to start from
September, 2005. For Cash Credit Interest – BPLR –
2.50% 9.50% p.a. payable monthly Margin – 25% on stock
and 40% on book debts, Non moving stocks (over 6 months) not to be counted
for DP. Max. cover period fro book debts : 90 days. Repayment – On
demand. |
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5) Name and Address and description of the person entitled to the charge. |
Axis Bank Limited 3rd
Floor, Trishul, Opp. Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad
– 380 006, Gujarat, India |
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6) Date and brief description of instrument modifying the charge |
No instrument was
executed but on 24th day of June, 2005 the company created an
equitable mortgage in favor of Axis Bank, by depositing title deeds and
documents with Axis Bank, relating to company’s immovable properties situated
at Plot Nos. 507/B/2, 507-C, 508, 511, 512, 509, 510, 403/A, 910-911,
situated at GIDC, Wadhwan, Dist. Surendrannagar in the State of Gujarat and
Rev. surv. 868/45, 868/88, paiki 868/69, 868/16 paiki at village : Sikarpur
(Sim), of Tal. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The Term Loan of
Rs.111.100 millions (C/C Rs.20.000 millions and T/L of Rs.91.100 millions) is
also secured by Whole of the Company’s immovable properties situated at Plot
Nos. 507-B/2, 507-C, 508-511, 12509510 403/A, 910-911, situated at GIDC,
Wadhwan, Dist. Surendranagar in the state of Gujarat and Rev. Surv. 868/45,
868/88 paiki, 868/69, 868/16 paiki at village : Sikarpur (Sim), of Tal.
Bhachau-Kutch, in the state of Gujarat. |
Web Details
COMPANY PROFILE
Overview
Subject is located in an industrial area of
Wadhwan City, Dist. Surendranagar, Gujarat, India. The plant is situated in an
environment, free from dust, smoke and Chemical & Biological
emissions.
The Company was established in the Year 1982 with the joint
efforts of group of young Doctors and following family members. The
establishment is being managed with the Expert guidance of following doctors :
1. Dr. J.K. Patel -
M.B.B.S.
2. Dr. P.M. Nadpara -
M.D. (Physician)
3. Dr. V.R. Vaishnav - M.S. (Surgeon)
The day to day activities are being looked after by their
Dynamic Managing Director Mr. T.K. Patel, having very rich Experience in
Pharmaceutical manufacturing, Distribution and marketing.
They have installed latest equipments, instruments and
on-line computer systems. The documents are prepared as per the technical
guideline of Rhone-Poulenc (India) Limited.
·
Manufacturing
Activity As Licensed :
Subject manufactures various formulations under the valid
Manufacturing Licenses issued from Food and Drugs Control Administration of
Gujarat State. The Licenses Nos are G/536 and G/266 in form No.25 and in form
No 28 respectively. Other manufacturing loan Licenses at our premises are:
G/466-A, G/489-A, G/2789-A and G/1452-A.
·
General
Introduction :
Looking to our Facilities, Product Quality, Scheduled
delivery they got job work of following reputed companies.
Nicholas
Piramal India Limited
German Remedies Limited
(Group Company of Cadila Healthcare Limited)
Cadila Health Care Limited
Rusan Pharmaceuticals
Abbott India Limited
Lupin Limited
Followings are the main features of our facilities:
- Factory is
constructed in a plot area of 16000 Sq. Mtrs. and Built - up area about
15000 Sq. Mtr.
- They have
installed latest production equipments with dedicated product facility as
well as multi products facilities e.g. FBP, Liquid filling line etc.
- They are
having well equipped Quality control Department with Auto HPLC, G.C., I.R.
Instrument and micro testing facility.
- More than 50
Nos of dedicated AHU for each cubicles with Dust collection system and
HEPA filters are installed where ever required.
- Purified
water generation System capacity 4000 lit / hr installed with RO. Mixed
Bed followed By HSRO with PLC base operating system.
- 150 kg/hr.
Multicolumn Distillation unit is installed for generation of D.W. for
Nasal Spray manufacturing.
- Purified
Water is supplied at the user points through continuous circulating loop
system to minimize Bio-burden.
- Oil and
moisture free compressed air is used after filtration.
- Three number
Boilers of 600 kg are used to feed steam at various points.
- Stand by DG
set installed to run complete operation of the plant
- Well equipped
office with all modern communication system like Lotus Notes &
dedicated E-Mail system.
- LAN computer
systems with Production Planning and Inventory Control Software.
They are producing medicines with modern equipments under
the supervision of well qualified technical persons. They are having about 20
production Chemists, 15 Q.C Chemists and 4 Nos. of Q.A. Chemists and 10 Nos of
other supporting staff. With all these dedicated members & utilities, the Per
day production capacity comes out as under:
|
Categories |
Capacity |
In Units |
|
Tablets |
2500 Kg. |
= 9 MillionTablets |
|
Coating |
1200 Kg. |
= 4 Million Tablets
|
|
Capsules |
375 Kg. |
= 1 Million
Capsules |
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Oral Liquid |
35000 Lit. |
= 0.35 Million
Bottles |
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External Liquid |
3000 Lit. |
= 60000 Bottles |
|
Ointment |
800 Kg. |
= 32000 Tubes |
|
Nasal Spray |
200 lit. |
= 15000 Vials |
Out of this, 75 % capacity is utilized and 25% is still spare
with us.
Technology Upgradation :
Upgradation is a Continuous and Consistent process at Biodeal and
recently they have constructed Nasal Spray Department with Class 100 area to
produce Nasal Sprays with CFC free pump. The next target is construction of
totally new area of oral liquid with state of the art facilities for which they
have already taken action.
With all these facilities andskilled staff, they have
undisputed past performance of continuous business of 20 years with
Multinational Reputed Companies. They are also getting the same kind of support
and assured business from CADILA HEALTH CARE LIMITED. and we wish longer
business association with Zydus Cadila also.
Any Suppliers, Customers, Manufacturers and Exporters those
who are dealing with us, they say from their heart.
INFRASTRUCTURE
Overview
PLAN OF PREMISES
(A) Plot area:
15,690 Sq. Mtrs.
(B) Built-up area:
(i)
5200 Sq. Mtrs. Ground Floor
(ii) 3311 Sq. Mtrs. First Floor and Above
(iii) 2024 Sq. Mtrs. Second Floor
(C) Various Departments:
1. Liquid
Manufacturing area.
2. Tablet Manufacturing area.
3. Capsule Manufacturing area.
4. External Liquid Manufacturing area.
5. Ointment Manufacturing area.
6. Nasal Spray Manufacturing area.
2 Air Handling System
During manufacturing
process, exposure of products to environment cannot be avoided.
Therefore environmental air plays very important role for manufacturing Quality
Products.
Important features of Air Handling Unit are:
- Filtered and
controlled temperature and humidity is provided in the critical
Manufacturing and filling area with more than 20 Air changes /hour.
- To make dust
free environment, dust collection system are installed at various Mfg.
Area where dust generation is more.
- AHU's
comprise of HDPE pre-filter, Micro weave filters and 0.3
micron HEPA filters for various area.
- Manometer
installed for differential pressure measurement.
- Pressure
differential is maintained between the areas to prevent
cross contaminations.
- Class 100,000
area is maintained in manufacturing area where products are exposed to
environment.
- Class 10,000
area is maintained in manufacturing and filling area of Nasal Spray.
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 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.42.37 |
|
UK Pound |
1 |
Rs.84.01 |
|
Euro |
1 |
Rs.65.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|