MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
AANJANEYA BIOTECH PRIVATE LIMITED |
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Registered Office : |
Vishwam 8/B, Postal Colony, Chembur, Mumbai – 400071, Maharashtra,
India |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
03.01.2006 |
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Com. Reg. No.: |
158589 |
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CIN No.: [Company
Identification No.] |
U24230MH2006PTC158589 |
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IEC No.: |
0306079551 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA30405E |
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PAN No.: [Permanent
Account No.] |
AAAGCA0851L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Bulk Drugs |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Financial position is satisfactory. Payment are usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Mani S. Iyer |
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Designation : |
CFO |
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Contact No.: |
91-9833990547 |
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Date : |
19.08.2008 |
LOCATIONS
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Registered Office : |
Vishwam 8/B, Postal Colony, Chembur, Mumbai – 400071, Maharashtra,
India |
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Tel. No.: |
91-22-25243678 |
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Fax No.: |
91-22-25223251 |
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E-Mail : |
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Head Office : |
Aanjaneya House, Plot 34, Postal Colony, Chembur, Mumbai – 400071,
Maharashtra, India |
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Tel. No.: |
91-22-25285563 / 25262890 |
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Fax No.: |
91-22-25262867 |
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E-Mail : |
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WebSite : |
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Area : |
4000 sq ft |
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Corporate Office : |
K – 4/1, Additional Mahad, MIDC – 403201 |
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Tel. No.: |
91-2145-251123 |
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Fax No.: |
91-2145-250115 |
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E-Mail : |
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Area : |
81000 sq ft |
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DIRECTORS
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Name : |
Mr. Kashi Vishwanathan |
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Designation : |
Dirctor |
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Address : |
8 – B vishwam, Postal Colony, Chembur, Mumbai – 40071, Maharashtra,
India |
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Date of Birth/Age : |
14.07.1945 |
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Qualification : |
B Sc (Chem) |
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Experience : |
40 Years |
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Name : |
Mr. Deepak Bhaskar Shenoy |
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Designation : |
Director |
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Address : |
Plot 34; Pent House No. 9, LUV CHS; Sector 16, Koperkhairne, Navi
Mumbai – 400709, Maharashtra, India |
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Date of Birth/Age : |
18.05.1984 |
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Qualification : |
B. Com, M.B.A. |
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Experience : |
2 Years |
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Name : |
Mr. Kanan Vishwanath |
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Designation : |
Director |
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Address : |
8 – B Vishwam, Postal Colony, Chembur, Mumbai – 400071, Maharashtra,
India |
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Date of Birth/Age : |
30.11.1975 |
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Qualification : |
B.E, M.B.A. |
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Experience : |
10 Years |
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Name : |
Ms. Divya Kanan Vishwanath |
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Designation : |
Director |
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Address : |
8 – B Vishwam, Postal Colony, Chembur, Mumbai – 400071, Maharashtra,
India |
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Date of Birth/Age : |
13.10.1981 |
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Qualification : |
B. Sc, M.C.A. |
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Experience : |
3 Years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 29.02.2008
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Names of Shareholders |
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No. of Shares |
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Kanan Vishwanathan |
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1200000 |
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Fina Venture Advisory Service Private Limited |
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796000 |
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Deepak Bhaskar Shenoy |
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4000 |
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List Of
Allottees |
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No.
of Share |
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Fina Venture Advisory Service Private Limited |
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796000 |
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Kanan Vishwanathan |
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1194000 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer of Bulk Drugs |
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Products : |
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Exports : |
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Products : |
Quinine Sulphate |
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Countries : |
China |
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Imports : |
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Products : |
Chinchona Bark |
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Countries : |
Africa |
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Terms : |
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Selling : |
L/C, Credit (90 Days) and Other |
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Purchasing : |
L/C, Credit (30 Days) and Other |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
Actual
Production |
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Anti – Malarial – API |
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200000 Kgs |
45585 Kgs |
GENERAL INFORMATION
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Customers : |
Formulation Manufacturer and Other |
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No. of Employees : |
40 (Office – 10, Factory - 30) |
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Bankers : |
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Facilities : |
Rs.58.000 Millions Cash Credit and Rs.85.000 Millions Term Loan. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Sunil Mistry and Company Charterd Accountant |
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Address : |
B/10 Basant Court, Sion (West), Mumbai – 400022, Maharashtra, India. |
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Tel. No.: |
91-22-24072308 |
CAPITAL STRUCTURE
AS ON 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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6000000 |
Equity Shares |
Rs. 10/- Each |
Rs.60.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs. 10/- Each |
Rs.20.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
|
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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20.000 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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23.181 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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43.181 |
0.1000 |
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LOAN FUNDS |
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1] Secured Loans |
|
117.008 |
0.000 |
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2] Unsecured Loans |
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7.393 |
5.429 |
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TOTAL BORROWING |
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124.401 |
5.429 |
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DEFERRED TAX LIABILITIES |
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7.517 |
0.000 |
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TOTAL |
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175.099 |
5.529 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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107.439 |
0.000 |
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Capital work-in-progress |
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0.000 |
6.707 |
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INVESTMENT |
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0.500 |
0.004 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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27.928 |
0.000 |
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Sundry Debtors |
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123.049 |
0.000 |
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Cash & Bank Balances |
|
0.796 |
0.129 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
16.271 |
0.345 |
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Total Current
Assets |
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168.044 |
0.474 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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94.514 |
1.975 |
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Provisions |
|
6.37 |
0 |
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Total Current
Liabilities |
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100.884 |
1.975 |
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Net Current
Assets |
|
67.16 |
(1.501) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.319 |
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TOTAL |
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175.099 |
5.529 |
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total assets |
|
275.983 |
7.183 |
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
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|
31.03.2008 |
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Sales Turnover |
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|
218.786 |
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Other Income |
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|
0.01 |
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Total Income |
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|
218.796 |
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Profit/(Loss) Before Tax |
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|
37.069 |
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Provision for Taxation |
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|
13.888 |
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Profit/(Loss) After Tax |
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|
23.181 |
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Expenditures : |
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Cost of Goods Sold |
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165.823 |
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Manufacturing Expenses |
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|
6.262 |
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Administrative Expenses |
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1.039 |
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Interest |
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|
7.811 |
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Depreciation &
Amortization |
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|
2.269 |
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Other Expenditure |
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|
1.621 |
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Total
Expenditure |
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183.276 |
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total income - total expenditure = PBT |
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|
35.52 |
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PAT / Total Income |
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|
0.105948006 |
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(PBT/Sales) |
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|
0.169430402 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
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0.10 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.16 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.13 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.85 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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5.21 |
74.04 |
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Current Ratio (Current Asset/Current Liability) |
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1.66 |
0.24 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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This form is for |
Creation of
charge |
||||||
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Charge
identification number of the modified
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||||||
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Corporate
identity number of the company |
U24230MH2006PTC158589 |
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Name of the
company |
AANJANEYA BIOTECH PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Vishwam 8/B, Postal Colony, Chembur, Mumbai – 400071, Maharashtra,
India |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
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Nature of
description of the instrument creating or modifying the charge |
Common deed of
hypothecation of stocks / Book Debt / Plant and machinery |
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Date of
instrument Creating the charge |
18.04.2007 |
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Amount secured by
the charge |
Rs.105.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @PLR or at such lending
rate that RBI / Bank policies may determine to charge from time to time and
also as long as the principle or the part thereof remains unpaid. Terms of
Repayment In the case of
term loan of Rs.17.625 millions – repayable in 60 monthly installments of
Rs.0.406 millions after moratorium of 12 month In the case of
term loan of Rs.23.625 millions – repayable in 60 monthly installments of
Rs.0.544 millions after moratorium of 12 month In the case of
term loan of Rs.7.500 millions – repayable in 60 monthly installments of
Rs.0.173 millions after moratorium of 12 month In case of term
loan of Rs.11.250 millions repayable in 60 monthly installments of Rs.0.259
million each. Margin As may be
decided, from time to time, by the bank Extent and
Operation of the charge To secure the due
repayment of aggregate credit facilities of Rs.105.000 millions granted by
the bank to the company, the details are as under – Cash credit
facility of Rs.45.000 millions Term loan of
Rs.17.625 millions Term loan of Rs.23.625
millions Term loan of
Rs.7.500 millions Term loan of
Rs.11.250 millions |
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Particulars of
the present modification |
All present and
future, stock of raw material, goods in process of manufacturer and all finished
goods and article such as cinchona bank, toluene, hydrated lime etc., with
all stores All, present and
future book debt, outstanding monies, receivable, clime bils, rights to or in
movable properties and movable assets, of the company All plant and
machinery, utility and quality control equipments of the company as per
annexure ‘a’, ‘b’ and ‘c’ attached herewith. |
Trade Reference
- Unijules
Lifesciences Limited – Mr. Faiz Vali
- Kilitich
Drugs India Limited – Mr. Mukund Mehta
- Bliss Gvs
Pharma Limited – Mr. Sv Kamath
- Sanjeevani
Parenterals Limited – Mr. Ashwin Khemka
As Per Website
Company History
Located in Additional Mahad - MIDC in an area of over 50,000
Sq meters near Mumbai City India, Subject is a private pharmaceutical
company focused on manufacturing APIs from Natural Extracts for Malaria &
Cancer segments.
The promoters have a long history of development &
manufacturing pharmaceuticals.
Mr. Kashi
Vishwanathan founded M/s Vishwam & Company in 1964 for exporting
herbal products.
Mr K V Vishwanathan founded Benzo Chemical
Industries in 1978 for manufacturing Pharmaceutical APIs.
Mr Kannan Vishwanathan
founded M/s Aanjaneya Biotech Pvt Ltd in 2006 to manufacture APIs from
Natural extracts.
Today Aanjeneya’s in-house development products are being registered in various
countries In Middle East, Baltic Regions & Latin America and plans to
license out to major pharmaceutical companies in Europe, Australia, & South
Africa are being worked out. There competitive edge is characterized by cost
efficient development and production, creative marketing and added value
customer service.
Through strategic partnerships, including but not limited to
Licensing or distribution agreements, there international activities are
expanding to more than 15 countries worldwide i, and this has been accomplished
through the talent and dedication of there employees who align their goals with
the needs of there customers and partners, as well as the needs and
requirements of each market.
In parallel, Aanjaneya is investing on the introduction of value
added health care products in Anti Malarial in the local market. With an
extensive product portfolio and an experienced sales force & vertical
integration, Aanjaneya intends to become a leader in Natural extracts
based APIs and one of the fastest growing pharmaceutical companies in India..
Aanjaneya Board
K. V. Vishwanathan M Sc. (C.MD)
A Chemistry Graduate from University of Mumbai, having over 40
years experience in manufacturing of APIS & Formulations, initially set up
Vishwam & Cmpany in 1964 for trading in Herbal products over the
years he have nursed this company to expand from manufacturing Intermediates to
Active Bulk Drugs & now to enter the niche market of Anti Cancers &
Anti Malarial segment. A Visionary, his guidance is eminent in expansion &
growth of Aanjaneya to become an important player in global API
market.
Kannan Vishwanath B.E, MBA (CEO)
An BE Petroleum from Pune University & MBA (International
Marketing) from USA, he is has actively monitoring the exports of the
company... Under his stewardship the company has recorded exponential growth in
exports & is eligible for one star Export house status under SSI category.
Has been representing the company in Premier pharmaceutical exhibitions CPHI in
Europe & South America which has resulted in greater exposure of Aanjaneya
in regulated markets
Arthur Kibble B.E (Director – UK Operations)
A 40 years veteran of UK Pharmaceutical industry & is
the Director of Pharmed Europe. Is closely coordinating with UKMHRA (Ministry
of health ) to register Aanjaneya’s products in UK .He is actively involved in
Sourcing natural products from Africa for Aanjaneya’s consumption
Mohan Bhardwaj M.Pharm (Director - IInternational Marketing)
An German Citizen of Indian Origin Mr Bhardwaj is the Masters in
Business Management from Gemany having over 20 years experience in
Pharmaceutical market. He has been associated with Top generic companies in
various capacities & has joined Aanjaneya to promote there products in
Europe
DEEPAK SHENOY B.Com MBA (Director - Corporate Planning)
Am MBA from Mumbai University, he joined the company in 2004 &
since has been instrumental in strategizing oncology presence in
world market. He & his team have laid the foundation for company being a
fully integrated player in Oncology segment with vision to be leading player in
regulated market
Quality Policy
They have made quality an integral part of there operational
procedures by implementing Total Quality Management (TQM) Initiatives at every
stage of the project life cycle to achieve total client satisfaction and
customer retention.
Initiating
Quality:
To address a better quality of life, it is imperative to identify with a
holistic perspective of quality itself. Aanjaneya supports a high standard of
health by relentlessly pushing potent ideas, revolutionizing processes and
driving new drug discoveries.
Empowering
Quality Processes:
Quality processes drive quality products. Quality products drive the quality-centric
organization. The driving force of Aanjaneya ongoing process development is its
world-class R&D and its seasoned scientists. Their evolved expertise in
process reengineering not only drives the development of revolutionary process
routes, but also helps breaking new ground in drug and Active Pharma
Intermediates. More importantly, this expertise enhances production
efficiencies to impart vital competitive advantages to Aanjaneya.
Enabling
Quality Products:
The mercurial brilliance of the R&D finds an ideal foil in the method
and meticulousness of the manufacturing. The state-of-the-art production
facilities at Mahad are streamlined to deliver highest quality products with an
unfailing consistency.
Moreover, the plants are fully equipped to custom manufacture meeting the
requirements of discerning customers worldwide. Full compliance with cGMP and
ICH7QA specifications further strengthen customer confidence in Aanjaneya.
Emphasizing
Quality Standards:
Quality I s ubiquitous at Aanjaneya. It pervades people, processes and products
alike. Quality is inspected right from the raw material through the
intermediate to the final product. Uncompromising standards are adhered to in
the development and validation of analytical methods. Quality assurance is
implied by built-in systems of procedures, checks and documentation. A
heightened quality consciousness is sustained among the analysts and technical
personnel through intensive training programs.
Furthermore, ISO 9001:2000 & ISO 14001:2004 certifications are the
testimonials to there true commitment for ensuring quality at every stage of
the manufacturing processes. Today they have an enviable track record of having
a loyal customer base for all there API and Intermediates in regulated and
non-regulated markets with no threshold resistance whatsoever.
They have benchmarked quality initiatives at all levels of the manufacturing
process and all there products carry the Aanjaneya Quality mark.
Custom Synthesis
ABPL
has proven skill in developing cost effective solutions for API's and advanced
intermediates. ABPL can offer the following services:
- Lab scale quantities from gram scale to
Kilo scale as per customer specifications
- Services tailored to suit Customer requirements
and updating progress on regular basis
- Process Scale up
- Complying with well established systems
like GLP and cGMP, ICH7QA
- Maintaining essential confidentiality
- Transparency of developments with the
Customer
- Last but not least timely delivery of
product
ABPL
has many core competencies and to name a few:
- Multistep Synthesis
- Sterioselective Synthesis
- N-Bu Li Reactions
- High Vacuum Distillations
- Polymorphic Studies
For clients requiring quick
development support for initial clinical studies, preparing for launch of new
molecules, and/or develop a competitive source of supply, ABPL has two
models of operations to address the needs of clients. The work can be on purely
purchase order basis or it could be a developmental work fees followed by a
purchase order for required quantities. There scientific team engages the best
talent in the industry for the quick development of environmentally friendly,
economically viable, and patent non-infringing processes.
Quotes are offered within a week of receipt of molecule disclosure along with
proposed routes for synthesis. Timelines are planned according to the needs of
the customer, and because of the vast resources available at times multiple
groups may be engaged to meet the aggressive timelines set by the client.
Intermediate scale-up and demonstration runs can be done at there pilot plant
and synthetic kilo labs. Validation support and filing of CMC's sections for
IND's is also provided.
Activities
include:
- Development of processes &
synthesis of known products as per client’s requirement
- Simpler routes with efficient recovery,
cost reduction for contract manufacturing
- Synthesis of Chemical Entities as per
customer request
- Synthesis of known impurities and
reference standards
- Synthesis of Scaffold and Building
blocks
- Method development for “custom made”
building blocks
- Synthesis of Novel Chemical Entities as
drug candidates
- Synthesis of small library of compounds
with each member specifically designed
- Development of value added products
Some
of the key highlights include:
- Quick turnaround of proposals
- Scaling up of multi-step processes and
achievement of high purities (>99%)
- Effective RM sourcing & extensive
analytical support
- Cost reduction through cycle time
reduction
- Simpler routes with efficient
recoveries
Identification
and synthesis of impurities/ reference standards for testing
Anti Material Apis
Quinine Family
Isolated originally from Cinchona succirubra, is a white crystalline
alkaloid soluble in alcohol, ether, carbon disulfide, chloroform, and glycerol.
It is almost insoluble in water. It is used chiefly (usually in the form of
soluble hydrochloride or sulfate salts) in the treatment of falciparum malaria
resistant to other antimalarials. Other anti-malaria drugs such as quinacrine,
chloroquine, and primaquine are more effective, but murative malarial parasite
developed resistance to them.
Artemisinin Family
Qinghaosu ("ching-how-soo") is
the active principal of the Chinese medicinal herb Artemisia annua. It has been
used as treatment of fevers in China for more than 1000 years. The antimalarial
value of Artemisia annua was first documented in Zhou Hou Bei Ji Fang (Handbook
of prescriptions for emergency treatments) written as early as 340 AD by Ge
Hong of the Eastern Jin Dynasty. The active antimalarial constituent of this
plant was isolated in 1971 and it was named artemisinin. The WHO accorded high
priority to the development of fast acting artemisinin derivatives for the
treatment of cerebral malaria as well as for the control of multi-drug
resistant P. falciparum malaria. A water soluble ester called
artesunate and two oil soluble preparations called artemether and
arteether are available.
ARTEMISININ BASED APIs
- Artesunate
- Artesunate Sterile Sodium
- Artemether
- Alpha- Beta Arteether
- Dihydroartemisinin
- Lumefantrine
QUININE BASED APIs AND ALKOID EXTRACTS
- Quinine Sulphate USP / EP
- Quinine Hydrochloride USP/ EP
- Quinine Dihydrochloride USP/ EP
- Quinine Bisulphate EP/ USP
Marketing
Overview
At
Aanjaneya they perceive marketing to be more of relationship development rather
than business development. The marketing team at Aanjaneya always tries to identify
the needs and expectations of the customers and strive to deliver services that
will enhance the value to the customers. Aanjaneya works on expectations of
customers ensuing better services all the time.
The
team is so designed that it will enhance the service to the customer, letting
them to contact any one of the team members to get the desired information or
service with in no time. There Global clientele vouch for there adherence to
the delivery schedules, which is another factor of there success next to
maintaining quality
They are well aware of how important it is in building and
managing good alliance/partner relationships and how it unfolds the true value
proposition by synergizing business activities in accomplishing the stated
business objectives.
Business Alliance
Aanjaneya is looking forward to work with Progressive and Innovative
multinational Pharmaceutical companies in jointly setting up the
state-of-the-art manufacturing facilities in the areas of Active Pharma
Ingredients (APIs) and Intermediates in the proposed pharmaceutical zones set
up by the Government of India.
The Aanjaneya Alliance Program will provide Pharma, Biotech and Research
companies with the resources and tools to jointly develop, manufacture, market,
sell and deliver quality products to global customers.
They
respect value added industry alliances and tie-ups and they offer excellent
value proposition to pharmaceutical companies interested in:
- Outsourcing Manufacturing of APIs
- Organic Intermediates
- Product Synthesis/Custom Development
- Licensing of products
- Joint Venture
Co-Marketing
Leveraging on there strengths as one of the leading pharmaceutical
manufacturing company in India, they will bring in all the desired marketing
expertise in building a successful brand. They are interested in partnering
with you in pursuit of achieving success in branded formulations.
Product
Licensing
They
are interested in partnering with companies for licensing of branded
formulations or products across the globe in the following areas:
- Anti Cancer
- Anti Malarial
- Hormone Replacement Therapy
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.43.58 |
|
UK Pound |
1 |
Rs.81.43 |
|
Euro |
1 |
Rs.64.52 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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 |
|