MIRA
INFORM REPORT
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Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
LARK LABORATORIES [INDIA] LIMITED |
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Registered Office : |
A-105/2, Okhla Industrial Area,
Phase-II, New Delhi – 110 020 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.04.1979 |
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Com. Reg. No.: |
55-9548 |
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CIN No.: [Company
Identification No.] |
U24230DL1979PLC009548 |
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IEC No.: |
0588089427 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELL00187F |
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PAN No.: [Permanent
Account No.] |
AAACL0407D |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business : |
Manufacturing & marketing of ethical pharmaceutical formulation, Nutraceuticals
and veterinary products. |
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 362000 |
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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. Payments are usually
correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
A-105/2, Okhla Industrial Area,
Phase-II, New Delhi – 110020, India |
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Tel. No.: |
91-11-26385292 / 41613373 /
26384189 / 26383470 |
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Mobile No.: |
91-9810018470 |
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Fax No.: |
91-11-26384063 / 26385116 /
26384063 |
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E-Mail : |
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Website : |
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Area : |
560sq. fts. |
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Location: |
Owned |
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Factory: |
SP – 1192 E, RIICO Industrial Area, Phase IV, Bhiwadi –
301 001, Rajasthan, India |
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Tel. No.: |
91-1493-225079/80/81 |
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Fax No.: |
91-1493-225137 |
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Area : |
11000 Sq. fts. |
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Location: |
Owned |
DIRECTORS
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Name : |
Mr. Vijay Uppal |
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Designation : |
Chairman |
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Address : |
5/77, Punjabi Bagh, New Delhi – 110026, India |
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Date of Birth/Age : |
16.01.1948 |
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Date of Appointment : |
11.04.1979 |
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Name : |
Mr. Vijay Kumar Gupta |
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Designation : |
Joint Managing Director |
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Address : |
M – 52, Lajpat Nagar, Part – II, New Delhi – 110024, India |
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Date of Birth/Age : |
11.10.1959 |
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Date of Appointment : |
11.04.1979 |
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Name : |
Mr. Monga Raj |
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Designation : |
Director |
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Address : |
E – 14/25, Phase – I, DLF Qutab Enclave, Gurgaon, India |
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Date of Birth/Age : |
10.10.1939 |
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Date of Appointment : |
28.01.2004 |
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Name : |
Mrs. Aparajita Takiar |
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Designation : |
Managing Director |
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Mobile No.: |
91-9810018470 |
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Address : |
C4E/11/152, New Delhi, India |
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Date of Birth/Age : |
20.04.1969 |
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Date of Appointment : |
30.05.1998 |
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Name : |
Mr. Kanti Lal V Jain |
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Designation : |
Director |
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Address : |
Padamshree, 354, 16th A, main Road, 33rd Cross,
4th T Block, Jaynagar, Bangalore – 560041, Karnataka, India |
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Date of Birth/Age : |
04.12.1947 |
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Date of Appointment : |
11.07.1981 |
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Name : |
Mr. Naresh Kalyan Rawtani |
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Designation : |
Director |
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Address : |
3 KA 23, Jawahar Nagar, Jaipur – 302004, Rajasthan, India |
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Date of Birth/Age : |
12.04.1963 |
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Date of Appointment : |
06.06.1987 |
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Name : |
Mr. Virender Uppal |
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Designation : |
Director |
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Address : |
5/77, Punjabi Bagh, New Delhi – 110026, India |
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Date of Birth/Age : |
12.03.1950 |
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Name : |
Mr. Tikmani PD. Lakshman |
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Designation : |
Director |
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Address : |
C/O MT Transport Company, Tikami House, Bariata Road, Ranchi – 834008 |
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Date of Birth/Age : |
17.02.1945 |
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Date of Appointment : |
16.08.1984 |
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Name : |
Mr. B B Tikmani |
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Designation : |
Director |
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Address : |
Tikmani House, Amgola, Muzaffarpur, Bihar, India |
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Name : |
Mrs. Kamal Prabha Anand |
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Designation : |
Director |
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Address : |
F-26, Sarita Vihar, New Delhi, India |
KEY EXECUTIVES
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Name : |
Mr. Subhash Chander |
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Designation : |
Company Secretary |
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Address : |
KG-I/350, Vikas Puri, New Delhi – 110018, India |
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Date of Appointment : |
01.03.1994 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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UPPALS’ |
1084912 |
37.37 |
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Mr. Vijay Uppal |
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Mr. Virender Uppal |
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ANANDS’ |
478380 |
16.47 |
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Mrs. Aprajita Takiar |
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Mrs. K P Anand |
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GUPTAS’ |
357804 |
12.32 |
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Mr. V.K. Gupta |
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RAWTANIS’ |
290800 |
10.01 |
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Mr. Naresh Rawtani |
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TIKMANIS’ |
278256 |
9.58 |
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Mr. B. B. Tikmani |
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Mr. L. P. Tikmani |
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MONGAS’ |
215152 |
7.41 |
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Mrs. Raj Monga |
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JAINS’ |
193680 |
6.66 |
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Mr. Kanti Lal V. Jain |
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OTHERS |
5076 |
0.18 |
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TOTAL |
290406 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing & marketing of ethical pharmaceutical formulation, Nutraceuticals
and veterinary products. |
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Products : |
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Exports : |
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Products: |
Pharmaceutical Formulations |
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Countries : |
Vietnam, Sri Lanka, Brazil, Columbia, Cambodia,
Afghanistan, Azerbaijan, Kyrgyzstan and Kazakhstan, South Korea, Kenya |
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Imports : |
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Countries : |
Germany and China |
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Terms : |
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Selling : |
Cash Or Credit (30 Days – 60 Days) |
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Purchasing : |
Cash Or Credit (30 Days- 60 days) |
PRODUCTION STATUS
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Products |
Unit |
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Actual
Production |
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Tablets |
Millions |
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249 |
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Liquids |
Kilolitres |
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769 |
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Capsules |
Millions |
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41 |
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Ointment |
Tons |
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23 |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Manufacturers and Government Bodies |
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No. of Employees : |
675 (Office: 75;
Factory: 350; Field: 250) |
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Bankers : |
Punjab National
Bank Okhla Industrial
Estate, New Delhi |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Aggarwal Jain and Associates Chartered Accountants |
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Address : |
5/5759 Dev Nagar, Karol Bagh, New Delhi – 110005, India |
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Memberships : |
IDMA, CHEMEXCIL, PHARMEXCIL |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs.
10.00 each |
Rs.
50.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2904060 |
Equity Shares |
Rs.
10.00 each |
Rs.
29.040 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
29.041 |
29.041 |
29.041 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
43.359 |
38.370 |
35.115 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
72.400 |
67.411 |
64.156 |
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LOAN FUNDS |
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1] Secured Loans |
69.701 |
75.283 |
81.687 |
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2] Unsecured Loans |
20.550 |
13.959 |
11.797 |
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TOTAL BORROWING |
90.251 |
89.242 |
93.484 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
162.651 |
96.653 |
157.640 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
83.488 |
87.486 |
87.211 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.214 |
0.164 |
0.113 |
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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 |
50.735
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52.129 |
54.014 |
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Sundry Debtors |
88.425
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69.248 |
43.805 |
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Cash & Bank Balances |
2.036
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1.376 |
1.203 |
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Other Current Assets |
0.000
|
11.894 |
9.778 |
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Loans & Advances |
13.697
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0.000 |
0.000 |
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Total
Current Assets |
154.893
|
134.647 |
108.800 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
73.254
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64.454 |
38.113 |
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Provisions |
2.690
|
1.190 |
0.371 |
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Total
Current Liabilities |
75.944
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65.644 |
38.484 |
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Net Current Assets |
78.949
|
69.003 |
70.316 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
162.651 |
96.653 |
157.640 |
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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 |
360.466 |
317.708 |
312.474 |
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Other Income |
0.627 |
2.134 |
5.418 |
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Total Income |
392.323 |
319.842 |
317.892 |
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Profit/(Loss) Before Tax |
6.579 |
193.801 |
173.045 |
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Provision for Taxation |
1.500 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
5.079 |
193.801 |
173.045 |
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Expenditures : |
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Raw Material Consumed |
2.081 |
114.270 |
124.793 |
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Purchases made for re-sale |
0.000 |
11.771 |
20.054 |
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Cost of Goods Sold |
293.655 |
0.000 |
0.000 |
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Depreciation |
5.309 |
0.000 |
0.000 |
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Interest |
11.022 |
0.000 |
0.000 |
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Administration and Selling Expenses |
41.821 |
0.000 |
0.000 |
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Total Expenditure |
353.888 |
126.041 |
144.847 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.29
|
60.59 |
54.44 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.83
|
61.00 |
55.38 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.76
|
2.87 |
2.70 |
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Return on Investment (ROI) (PBT/Networth) |
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0.09
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87.25 |
88.28 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.30
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2.30 |
2.06 |
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Current Ratio (Current Asset/Current Liability) |
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2.04
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2.05 |
2.83 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
LARK
LABORATORIES [INDIA] LIMITED |
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Presented By |
Director |
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1) Date and description of instrument creating the change |
Agreement of
medium term loan and hypothecation of plant and machinery and land and
building and agreement hypothecation of
moveable assets forming part of fixed
/ block assets dated 27.07.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 54.000
Millions |
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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 |
Hypothecation of
all the borrower’s present and future block assets of the company including
land and building, plant and machinery etc. existing / property installed /
to be installed at SP – 1192 [E], Bhiwadi Industrial Area, Bhiwadi, Rajasthan |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 15.25
% + interest tax p.a. on quarterly rest Margin 25 % |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank Okhla Industrial
Estate, New Delhi |
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6) Date and brief description of instrument modifying the charge |
Letter of
continuity regarding extension of equitable mortgage dated 14.11.2000 |
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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 medium term
loan of Rs. 54.000 Millions is now additionally secured by equitable mortgage
of way of hypothecation of equitable mortgage of immovable property including
land and building or to be constructed thereon situated at 105/2, Okhla
Industrial Area. Other terms and
conditions same. |
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Corporate identity
number of the company |
U24230DL1979PLC009548 |
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Name of the
company |
LARK LABORATORIES [INDIA] LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
A-105/2, Okhla Industrial Area,
Phase-II, New Delhi – 110020, India |
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This form is for |
Modification of charge |
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Type of charge |
Hypothecation
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Particular of
charge holder |
Punjab National
Bank NSIC Bhawan,
Okhla Industrial Estate, New Delhi – 110020, India |
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Amount secured by
the charge |
Rs. 19.000
Millions |
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Description of
the property charged indicating whether it is a charged on |
Book Debts |
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Particulars of the
property charged |
All the
borrower’s present and future book debts, money receivables, claims, bills,
contracts, rights and other movable assets. |
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Charge
identification number of the charge to be modified |
90032723 |
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Brief description
of the instrument modifying the charge under section 135 |
Agreement of
hypothecation of movable assets forming part of fixed block / assets and
letter of continuity |
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Date of
instrument modifying the charge |
13.04.2006 |
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Particulars of the
present modification |
The Cc [Book
Debts] limit of Rs. 19.000 Millions is coll. Sec. by movable assets forming
part of fixed / block assets and ext of mortgage of imm property at A 105/2,
Okhla, New Delhi and at SP 1192 [E], Bhiwadi |
Profile
The company was incorporated in the year 1979 and today they
are overwhelmed with achievements and rewards. Lark has been serving various therapeutic areas like Pain Management, Diabetes, Orthopaedics, Cardiovascular,
Erectile dysfunction, nutrients etc. They move forward with the
objective to be a globally recognized company that works vigorously and
consistently into new areas with each product holding the tag of quality
Product Range
ANALGESICS / ANTIPYRETICS / STEROIDS
Betalar Drops / Betalar-S
Tablets, Diclofast Tablets, Diclofast- P Tablets Ibular 200 - 400- 600, Ibular
Plus Suspension / Tablets, Ketum Gel, Kinase, Kinase-N, Larkin, Largesic,
Nimusol Tablets / Suspension / Gel Nimusol Kid Tablets, Nitcon Capsules,
Rheufen Gel, Symolar / Symolar Forte / Symolar Forte DS Zeepain / Zeepain 20 /
Zeepain Gel
ANTIFUNGAL
Flunaz
DRUGS FOR ERECTILE DYSFUNCTION
Ciagra-50 / 100, Sildenafil
Citrate Tablets 50mg / 100mg, Tadafil Tablets 10mg / 20mg / Gel
ANTI-HAEMORRHAGIC
Haemosylate / Haemosylate-250
ANTIBIOTICS / ANTIBACTERIAL
Azithromycin Tablets 250mg /
500mg, Cefaxil, Celecoxib Capsules 200mg, Cefpolar, Ciprolar, Ciprolar-T,
Clavimox, Clofcin, Clofcin -M, Clofcin -T, Clopen, Erythrolar, ClopenFlox, Larprim
/ Larprim DS Tablets / Drops, Larmycetin, Larcyclin, La-Spar, Levofloxacin
Tablets 250mg / 500mg, Moxylar, Oraxim / Oraxim Forte Oroceph, P-mox, P-mox
Plus, Polypen, Vidosyn, Sulmin, Uroxim, Newsef
ANTITUBERCULAR PRODUCTS
AFB-4 (Calender Pack), AFB-3
(Calender Pack), Famicox, Faminex / Faminex Kid Tablets Faminex Forte, Inalar,
Koxylar, Koxymide / Koxymide Forte
ANTILEPROTIC
Fazim / Fazim 100, Clofazimine Capsules 50mg / 100mg
DERMATOLOGICAL PRODUCTS
Besic Ointment, Ciprolar /
Ciprolar F / Ciprolar-FC, Detrilon Antiseptic Lotion, Largyl Gel / Largyl
Denta, No-Dan, No-Lice, Scabinil, Sepdine, Silvohex, Silvolar
ANTITUSSIVE / ANTICOLD / BRONCHODILATORS
Azofen, Azofen - T, Brosol,
Control, Dolar / Dolar-A (Cough - suppressant), Histine, RES Syrup (Cough
Syrup), Tussdex / Tussdex Adult (Cough Syrup)
GASTRO INTESTINAL PRODUCTS
Bowlease, Cimetidine Tablet 200
mg / 300 mg / I. P. / B. P. / USP, Flatulex (Antiflatulant Capsules),
Largyl-200 / 400, Largyl-N, Lanocid, Livogard, NIT, Onocid, Essomeprazole 20 mg
/ 40mg Capsules, Pandom, Pantoprazole Tablets 40mg, Piplar (Antispasmodic
Drops), Polycid Gel / Tablets Pymolar, Sonata Drops, Spasmolar (Antispasmodic
Tablets), Spasmolar-D Drops, Toko Forte / Toko Susp., Ulfamo
VITAMINS, ENZYME & GYNAECOLOGICAL PRODUCTS
Larvit / Larferron, Poly-B,
Richglobin (Iron pool Replenisher & Haemoglobin Restorative Capsules /
Tablets), Richzyme, Fifolar, Calcilar, Hepaline, Multivitamin with Minerals
Tablets, Sertraline Tablets 25mg
GYNAECOLOGICAL PRODUCTS
Aciclovir
Tablets / Cream / Gel, Clotrimazole Vaginal Cream / Tablets Infa-V, Vasodilan,
Hydorxy Progesterone Injections
ANTI-MALARIAL PRODUCTS
Larquin, Malcidal / Malcidal
Forte, Queenolar 150 / 300 / 600 / Infusion Amodiaquine Tablets
ANTI-DIABETIC PRODUCTS
Diamin / Diamin Forte, Glysul,
Mosapride Tablets 2.5mg / 5mg Glimepride 1mg / 2mg, Glysul-M, Glibenclamide
Tablets, Rosiglitasone Tablets 1mg / 2mg
CARDIOVASCULAR PRODUCTS
Atrolar,
Simvastatin Tablets 10mg, Diltiazem Tablets 30mg / 60mg BP / USP Lovastatin
Tablets 10mg, Myodil, Myodipine, Noldepine, Procor, Enazid, Hydrochlorothiazide
Tablets 25mg, Enalam, Enalapril Tablets, Lisinopril
LIST OF INJECTABLES
Newcef Injection 500mg / vial,
Newcef Injection 1 gm / vial, Uroxim Injection 1gm / vial, Sulmin Injection
0.75 mg / Vial, Sulmin Injection 1.5 mg / Vial, Womplex Injection 2ml Kan-100
Injection, Kan-500 Injection, Dicline Injection 3ml, Amoxicillin With
Clavulanic Acid Injection Largyl, Nandrolone Phenylpropionate 25mg Injection,
Nandrolone Decanoate 25mg / 50mg / 100mg Injection, Penicillin V Procaine
Injection, Water for Injection, Atropine 1mg/ml Injection, Aminophylline
Ampoule 250mg / 10ml, Clindamycin 600mg / 4ml, Gentamycin 20mg / ml ampoules, Gentamycin
80mg / ml ampoules, Lidocaine 20ml 2%, Frusemide 40mg / ml, Metoclopramide
10mg/ml, Vitamin K1 Fitomedadiona 10mg/ml,
Infrastructure
They have acquired manufacturing
premises of 1, 15,000 Sq.fts with huge manufacturing capacity. Lark is
equipped with modern facilities and has implemented Information technology
& telecommunication into their daily business activities to standardize
performance and give better services to their customers.
Manufacturing Capacity
They can manufacture 860 Million
Tablets (Betalactum & Non Betalactum), 450000 KL Liquid Orals, 22 million
Capsules (Betalactum & Non Betalactum) and 225000 KL (Betalactum) per year
in single shift.
Achievements
Due to
high quality production, they have achieved prestigious awards and
certification from World Health Organization authority (WHO-GMP). They have
also grabbed numerous certificates from International regulatory authorities.
Human Resources
Subject has
gained support of highly qualified professionals who excel in their respective
fields and perform work with complete perfection. Their working staff has
achieved immense experience in the field and is trained from time to time. They
are given constant exposure to the new technology and modern machineries so
that their skill is updated with the advancement of time.
Clients
They have huge market domination
and their products are exported to the countries across the globe. Their
products are exported to Middle East, CIS countries and Asian subcontinent.
They are striding forward with the vision that in the next 5 years subject will
be present almost in every part of world.
Website Details:
Subject is a leading and fast growing
pharmaceutical company involved in manufacturing and marketing of ethical pharmaceutical
formulations, neutraceuticals and veterinary products. Started in year 1979,
the odyssey of subject is full of significant achievements.
Established with a vision to be India's renowned pharmaceutical company,
subject is dedicated to serve Human kind. Lark has penetrated various
therapeutic areas like Pain Management, Diabetes, Orthopaedics, Cardiovascular,
Erectile dysfunction, nutrients etc.
Subject, with a
objective to be acknowledged globally as a leading healthcare company, is
vigourously and consistently working to foray into new areas, to establish its
quality a measuring unit and to scale new heights.
Plant
A State-of-the-Art
Mega Project has been setup at Bhiwadi (Rajasthan), a couple of hundred
kilometers from Delhi on a vast 1,15,000 sqft area, with a huge capacity
expansion in line with MCA/TGA standards.
The plant is
having facilities for dosage forms including Liquid Orals, Pencillin and Non
Pencillin Hard Gelatin Capsules and Dry Syrups, Tablets/Ointments.
It can produce 860
Million Tablets (Betalactum and Non Betalactum), 450000 KL Liquid Orals, 22
million Capsules (Betalactum and Non Betalactum) and 225000 KL (Betalactum) per
year in single shift.
The Facility complies with cGMP requirements, it also achieved a
prestigeous certification by World
Health Organisation authority (WHO-GMP).
Various other cerification from International regulatory authorities is under
process/plan.
Subject's also has the capability to cater to eye/ear drops, IV/IM
injectables.
Human Resource
Subject is teamed
up by highly qualified professionals who've excelled in their fields. It is
equipped with a wide pool of knowledge and an experienced staff. HR, which is
the backbone of every organisation is nurtured here.Here the employees are
constantly being involved in training and learning new platforms and technogy,
letting them update with current practices and tools of the industry.
Global Presence
Regions like
Middle East, CIS countries and Asian subcontinent is where Lark is present
currently and is constantly working to enter new markets. Infact in next 5
years Lark will be present almost in each part of world.
Infrastructure
Subject is equipped with modern facilities, it implemented Information
technology and Telecommunication into its daily business activities to
standardize its performance and to give better services to its customers.
India's
pharmaceuticals industry is more than 190000.000 millions and the growth rate
is 8-10% a year. More than 25000 pharmaceutical manufacturers are catering the
society of 1 billion. Subject just spread its wings and readying itself for a
big leap.
Subject is significantly present in regions like South East Asia, CIS, Middle East, Africa, South America and rest of Asia by adopting various means such as Co-promotion, Co-marketing, Exclusive Licensing, Joint Ventures, Third party exports, etc.
In following countries subject is present currently and is constantly working to enter new markets. Infact in next 5 years subject will be present almost in each part of world.
Afghanistan Albania Algeria Bosnia Cambodia
Georgia Goalia Herzegovina Indonesia Iran
Iraq Kosova Kyrgistan Mesodonia Mocodonia
Myanmar Slovenia Sri Lanka Surinam Thailand
Ukraine Uruguay Vietnam
They welcome any query related to above or any other market.
Their Targeted countries are as following where they wish to embark in recent future.
Russia Yugoslavia Singapore Malaysia
Chile Peruguay Venezuela Brazil
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.42.23 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.66.41 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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 |
|