MIRA
INFORM REPORT
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Report Date : |
11.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAHAJANAND MEDICAL TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
304 Sahajanand House, Parsi Street, Saiyedpura, Surat – 395 003,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.10.2001 |
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Com. Reg. No.: |
04-40121 |
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CIN No.: [Company
Identification No.] |
U33119GJ2001PTC040121 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
SRTS00849C |
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PAN No.: [Permanent
Account No.] |
AALFS5210P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Developer and Manufacturer of minimally invasive coronary stent
systems, with one of the broadest product portfolio in the industry |
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 960000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Financial position is satisfactory. Payments
are reported as slow but correct. However, the company can be considered good for normal business
dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
304 Sahajanand House, Parsi Street, Saiyedpura, Surat – 395 003,
Gujarat, India |
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Tel. No.: |
91-261-2451451-58 |
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Fax No.: |
91-261-2452458 |
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E-Mail : |
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Website : |
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Corporate Office : |
Wakhariawadi, Near Dabholi Char Rasta, Ved Road, Surat – 395 004,
Gujarat, India |
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Tel. No.: |
91-261-2521251-58 |
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Fax No.: |
91-261-2520252 |
DIRECTORS
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Name : |
Mr. Dhirajlal Vallabhbhai Kotadia |
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Designation : |
Director |
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Address : |
43, Narayanmuninagar, Near Swaminarayan Gurukul, Ved Road, Surat – 395
004, Gujarat, India |
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Date of Birth/Age : |
01.01.1958 |
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Qualification : |
B.E. |
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Date of Appointment : |
25.03.2004 |
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Name : |
Mr. Dhirajkumar Savjibhai Vasoya |
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Designation : |
Director |
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Address : |
“Parishram” 47, Narmad Nagar, Athwalines, Surat – 395 001, Gujarat,
India |
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Date of Birth/Age : |
03.04.1962 |
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Date of Appointment : |
12.05.2006 |
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Name : |
Mr. Jayanti Kanubhai Vaghasia |
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Designation : |
Director |
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Address : |
601-B, Ravidarshan Apartments, B/H Sarjan Society, Parle Point, Surat
– 395 007, Gujarat, India |
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Date of Birth/Age : |
15.04.1974 |
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Date of Appointment : |
02.08.2003 |
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Name : |
Mr. Manish Indulal Doshi |
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Designation : |
Director |
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Address : |
704, Megh Malhar Appartment, Bhatar Char Rasta, Althan Road, Surat –
395 017, Gujarat, India |
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Date of Birth/Age : |
18.10.1968 |
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Qualification : |
B.Tech (Textile) |
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Date of Appointment : |
01.04.2002 |
KEY EXECUTIVES
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Name : |
Mr. Kantilal H Savaliya |
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Designation : |
Company Secretary |
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Address : |
302, Mangal Deep Apartment, Om Nagar Society, Parvat Patia, Surat |
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Date of Appointment : |
30.03.2006 |
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Name : |
Mr. Anil Misra |
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Designation : |
Vice President – Marketing and Sales |
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Name : |
Mr. Harivadan Pandya |
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Designation : |
Chief Finance Officer |
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Name : |
Mr. J P Dutta |
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Designation : |
Chief Operations Officer |
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Name : |
Mr. Ronak Choksi |
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Designation : |
Vice President (Operations and Human Relations) |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.07.2007)
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Names of Shareholders |
No. of Shares |
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Sharada Kotadia |
26250000 |
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Dhirajlal Kotadia |
11562600 |
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Dhirajkumar Vasoya |
2100000 |
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Vinodkumar Vasoya |
2093700 |
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Jitendra Kotadia |
70000 |
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Nayanaben Vasoya |
336000 |
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Manish Doshi |
2065700 |
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Debadiprasad Roy |
14000 |
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Rahul Gaywala |
56000 |
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Mohammed Yawar Pothiawala |
35000 |
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Hitesh Vachhani |
70000 |
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Jayantilal Vaghasia |
42000 |
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Vallabhbhai Narola |
28000 |
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Manish Patel |
70000 |
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Sahajanand Technologies Private Limited |
14000 |
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Nayalkaran Industries Private Limited |
14000 |
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Daljeet Sing Gambhir |
700000 |
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Aparna Doshi |
2800000 |
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Vasantben Vasoya |
336000 |
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Total |
48657000 |
List of Allotment (As on 12.05.2006)
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Names of Allottees |
No. of Shares |
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Sharada Kotadia |
7500000 |
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Dhirajlal Kotadia |
3303600 |
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Dhirajkumar Vasoya |
600000 |
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Vinodkumar Vasoya |
598200 |
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Jitendra Kotadia |
20000 |
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Nayanaben Vasoya |
96000 |
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Manish Doshi |
590200 |
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Debadiprasad Roy |
4000 |
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Rahul Gaywala |
16000 |
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Yawar Pothiawala |
10000 |
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Hitesh Vachhani |
20000 |
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Jayantilal Vaghasia |
12000 |
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Vallabhbhai Narola |
8000 |
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Manish Patel |
20000 |
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Sahajanand Technologies Private Limited |
4000 |
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Nayalkaran Industries Private Limited |
4000 |
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Daljeet Sing Gambhir |
200000 |
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Aparna Doshi |
800000 |
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Vasantben Vasoya |
96000 |
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Total |
13902000 |
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 directors |
88.00 |
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Other top fifty (50) shareholders |
12.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Developer and Manufacturer of minimally invasive coronary stent systems,
with one of the broadest product portfolio in the industry |
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Products : |
·
Infinnium-Core - Eluting
Coronary Stent System has a biodegradable ·
Supralimus-Core - Eluting
Coronary Stent System is based on the three powerful ·
Supralimus - is
based on the three powerful tools. The CE approved The Millennium Matrix ·
Coronnium - (CE
approved) Cobalt Chromium Coronary Stent System contains ·
Infinnium - (CE
approved)-Paclitaxel Eluting
Coronary Stent System contains ·
Millennium Matrix - (CE
approved) Coronary Stent System contains excellent technical... |
PRODUCTION STATUS
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Bare Stent |
Nos. |
30000 |
23193 |
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Mounted Stent |
Nos. |
30000 |
23193 |
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Infinnium Stent |
Nos. |
15000 |
8772 |
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Supralimus and Supralimus HS |
Nos. |
10000 |
9822 |
GENERAL
INFORMATION
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No. of Employees : |
Around 200 |
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Bankers : |
·
ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri,
Baroda – 390 015, Gujarat, India ·
Punjab National
Bank Textile Market Branch, Ring Road, Surat |
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Facilities : |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
Rajesh Shah |
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Address : |
7006, 7th Floor, World Trade Centre, Near Udhna Darwaja,
Ring Road, Surat – 395 002, Gujarat, India |
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Associates/Subsidiaries : |
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Sahajanand Medical Technologies Inc. U K ·
Sahajanand Medical Technologies Canada Inc. ·
Sahajanand Medical Technologies Inc USA |
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Group Companies : |
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Sahajanand Technologies (Private) Limited ·
Sahajanand Medical Technologies (Private) Limited ·
Sahajanand Biotech (Private) Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4865700 |
Equity Shares |
Rs.10/- each |
Rs.48.657
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 |
48.657 |
34.755 |
34.755 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
144.170 |
111.268 |
63.689 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
192.827 |
146.023 |
98.444 |
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LOAN FUNDS |
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1] Secured Loans |
135.293 |
124.434 |
80.045 |
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2] Unsecured Loans |
0.000 |
0.000 |
6.218 |
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TOTAL BORROWING |
135.293 |
124.434 |
86.263 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
328.120 |
270.457 |
184.707 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
61.454 |
43.333 |
43.379 |
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Capital work-in-progress |
1.110 |
1.357 |
0.671 |
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INVESTMENT |
0.176 |
0.235 |
0.335 |
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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 |
96.498
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75.808 |
65.469 |
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Sundry Debtors |
208.412
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179.601 |
101.445 |
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Cash & Bank Balances |
1.706
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3.384 |
5.714 |
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Other Current Assets |
5.621
|
7.592 |
0.000 |
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Loans & Advances |
81.478
|
47.977 |
16.057 |
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Total
Current Assets |
393.715
|
314.362 |
188.685 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
89.486
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52.695 |
48.905 |
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Provisions |
39.385
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36.850 |
0.000 |
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Total
Current Liabilities |
128.871
|
89.545 |
48.905 |
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Net Current Assets |
264.844
|
224.817 |
139.780 |
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MISCELLANEOUS EXPENSES |
0.536 |
0.715 |
0.542 |
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TOTAL |
328.120 |
270.457 |
184.707 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
612.726 |
497.132 |
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Other Income |
|
0.790 |
1.563 |
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Total Income |
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613.516 |
498.695 |
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Profit/(Loss) Before Tax |
|
128.554 |
124.058 |
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Provision for Taxation |
|
38.500 |
36.850 |
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Profit/(Loss) After Tax |
|
90.054 |
87.208 |
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FOB Value |
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84.869 |
74.244 |
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Expenditures : |
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Interest |
|
14.846 |
6.698 |
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Depreciation & Amortization |
|
15.434 |
12.703 |
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Other Expenditure |
|
454.682 |
355.236 |
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Total Expenditure |
|
484.962 |
374.637 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
14.68
|
17.49 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
20.98
|
24.95 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
28.24
|
34.68 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.67
|
0.85 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.37
|
1.47 |
1.37 |
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Current Ratio (Current Asset/Current Liability) |
|
3.06
|
3.51 |
3.86 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Name of the company |
SAHAJANAND MEDICAL TECHNOLOGIES PRIVATE LIMITED |
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Presented By |
Manager, Punjab
National Bank, Textile Market Branch, Ring Road, Surat |
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1) Date and description of instrument creating the change |
Hypothecation of Movable
Assets forming part of fixed/block assets dated 27th day of
December, 2004 executed by Sahajanand Medical Technologies Private Limited
(Borrower) in favour of Punjab National Bank (Bank). |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.100.000
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 |
All the tangible
movable properties and assets of the Borrowers of whatsoever nature including
movable plant. Machinery, tools and accessories, vehicles etc., stores and
spares relating to plant and machinery, furniture, articles and things, being
movable properties capable of passing by delivery – both present and future –
whether installed or not and whether by delivery – both present and future –
whether installed or not and whether by delivery – both present and future –
whether installed or not and whether now lying loose or in cases and now
being or at any time in the course of transit to the premises, factories and
godowns situate at Dabhel Industrial Estate, Village Dabhel, Daman (Union
Territory) of the borrower either by way of substitution or addition or other
places whatsoever or on behalf of the Borrowers or wheresoever the same may
be or in transit or delivery. The main items of machineries whereof are as
under : ·
Laser
Machine and Equipments ·
Microscope ·
Other Misc.
equipments |
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4) Gist of the terms and conditions and extent and operation of the charge. |
All the
securities as described in Column No. 3 hereinabove are hypothecated and
charged to the Bank for securing due repayment and discharge by the Borrower
to the Bank of its (i) Cash Credit (Hypothecation) Limit of Rs.50.000
millions and (ii) Packing Credit / FDBP / FOUBP Limit of Rs.50.000 millions
aggregating to Rs.100.000 millions (limit Nos. (i) and (ii”) not to exceed
Rs.98.500 millions plus interest, commission, costs, charges, expenses and
other monies payable by the Borrower to the Bank. |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank Textile Market
Branch, Ring Road, Surat |
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6) Date and brief description of instrument modifying the charge |
Not Available |
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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. |
Not Available |
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Corporate
identity number of the company |
U33119GJ2001PTC040121 |
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Name of the
company |
SAHAJANAND MEDICAL TECHNOLOGIES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
304 Sahajanand House, Parsi Street, Saiyedpura, Surat – 395 003,
Gujarat, India |
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This form is for |
Creation of
charge |
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Type of charge |
·
Book debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others o
Fixed
Deposit |
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Particular of charge
holder |
CICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda – 390 015, Gujarat, India
|
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Nature of
instrument creating charge |
Deed of
Hypothecation dated 6th July, 2007 executed by Sahajanand Medical Technologies
Private Limited in favour of ICICI Bank Limited for Rs.300.000 millions. |
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Date of
instrument Creating the charge |
06.07.2007 |
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Amount secured by
the charge |
Rs.300.000
millions |
Financial
Highlights
During the year sales revenues from operations increased by 23% to
Rs.612.726 millions from Rs.497.132 millions in previous accounting period. The
operating profit of the Company has increased by 11% to Rs.158.833 millions
from Rs.143.458 millions in the previous accounting period. Profit after tax
has increased by 3% to Rs.90.054 millions as compared to Rs.87.208 millions in
the previous accounting period.
A change in product mix emphasizing more on high margin products as well
as higher inclination towards export has provided a substantial upwards thrust
in the performance and prospects of the Company.
Business
The year witnessed a continued shift in the niche of market from
metallic Stents to Drug Eluting Stents. The Company succeeded not only to keep
pace with the market but increased its market share in the domestic market. The
company was able to increase sales of its high value product “Infinnium –
Revolutionary Paclitaxel Eluting Stent” as well as “Supralimus – Sirolimus
Eluting Stent”. During the year the company launched two of its new products
viz., Coronnium – A Cobalt Chromium Alloy Stent and Synchronnium – A drug
Eluting Cobat Chromium Stent. By the end of the financial year the Company was
also able to successfully secure substantial share of the Indian market of
implantable interventional cardiovascular devices.
Future Plans
The company plans to innovate further in the niche of Drug Eluting
Coronary Stents. The company will also impress more on global market, in order,
achieve respectable position amongst global players in times to come.
Fixed Assets
·
Building
·
Plant and Machinery
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
Web Details
Profile
Subject is developer and manufacturer of minimally invasive coronary stent
systems, with one of the broadest product portfolio in the industry. They
committed to the welfare of all patients around the world; they shall provide
best evidence based products to fight cardiovascular disease. Subject has a
strong international presence and they are proud to be a first company to
secure CE mark for biodegradable polymer based Drug Eluting Stents. They are
committed to the philosophy “PLEDGED TO SAVE MILLIONS”.
Business
Sahajanand Technologies
(Private) Limited
Sahajanand Technologies was
incorporated in 1993 inspired by unique advantages of Laser Technology like
high productivity, automation worthiness, elimination of finishing operations
and reduced processing cost for diamond industry. They believe in delivering
valuable and dependable solutions based on high end technology in the benefit
of the industry. Sahajanand is one of the very few companies who provide
product range for entire segment of diamond processing. Sahajanand has become a
trendsetter company by initiating and defining innovative products.
Sahajanand Medical
Technologies (Private) Limited
Established in the year 1998,
company became the first Indigenous Stent Manufacturer in world to have two DES
systems in its product portfolio. It is India’s largest manufacturing company
based on Evidence Based Implantable Medical Devices and Medical Equipments. The
products are manufactured conforming to the international quality standards and
are offered at the most competitive prices. The Company is ISO 9000 certified
& also obtained CE certification for its advanced range of products. This
gives assurance of company’s quality consciousness.
Sahajanand Biotech (Private)
Limited
An innovative drug discovery
company creating safe quality of life solutions through all natural products.
It is manufacturer of herbal medicinal formulations and is also engaged in
research in Biotechnology.
Sahajanand Medical Technologies is the first Indian Modern Scientific
Medical Devices Company in the world to discover “Biodegradable Polymer Stent”
for Angioplasty
'Biodegradable Polymer Stent' designs innovated by
Sahajanand Medical Technologies (SMT) have been accepted & approved by
Cardiologists, researchers and operators from 37 countries all over the world.
SMT is authenticated world wide as the first Indian company to develop
Biodegradable Polymer Stent as the legend, in field of Modern Scientific
Polymer Stents; Dr. Antineo Colombo used the SMT's Stent during a live demonstration
at the Angioplasty conference. Because of the innovation of 'Biodegradable
Polymer Stent' by Sahajanand reputed stent producing companies all over the
globe has been forced to decrease their price tags.
Angioplasty is the term in medical science for the procedure of mechanically
widening a narrowed or totally obstructed blood vessel (arteries) that have
been blocked due to dumping of cholesterol and other fatty deposits. The
Angioplasty can only be performed by the Cardiologists having super specialist
DM degree.
With continuous developments in medical technologies, Angioplasty has also
passed through various R&D efforts. In the early years, Balloon procedure
was in practice for blocked Artery, but within short span of 6 months 30 to 35
% patients suffer from restenosis. In effect, new and more effective technology
compared to Balloon Technology was discovered called ‘Stenting’. The word
'Stent' comes from the 'Tentistry'. Stents are most advanced, tiny, expandable
slotted tubes or mesh tubes made of metal. They made Angioplasty procedure more
effective. But in the 15% patients complained about re-stenosis owing to
improper recovery. Now again question raised about how this problem can be
resolved? After intensive research the 'Medicated Stent' was discovered where
drug was used for better recovery. It is a modern and most effective scientific
process. In this process drug is mixed with the polymer on the surface of the
Stent. The drug releases with specific amount per day and sets more effective
recovery after 6 weeks of Stent placement. After 6 weeks drug release process
completes as normally patients recover within span of 2 to 4 weeks patients
don’t need such drugs. This type of stent was innovated-
Company started producing stents with new, extraordinary concept of
“Biodegradable Polymer”. Development and marketing of such stents was not an
easy task as multinational companies and well-known Cardiologists were using
“Biostable Polymer”. Although the R&D team at Sahajanand continued their efforts
without loosing courage. During the time when this research was undertaken, the
world of medical technology was unable to decide between Biostable or
Biodegradable. But now it is proved that Biostable polymer stays for long in
the coronary artery that might cause blood clots in vessels while in
Biodegradable stent polymer diffuses with time, thus this technology is now
considered more effective and secure.
Sahajanand Medical Technologies takes pride for the fact that the
scientists and Cardiologists around the world are using “Biodegradable”
Technology in interest of the patients. In a way, Biodegradable Polymer Stent
Technology from “Sahajanand Medical Technologies” seems to be the 'Path
Breaking' and 'Pioneer' technology in the world. Noticeable concern is the cost
of stent which is decided as Rs.70,000 by the company, choosing affordability
over profit making. Now, middle classes can also afford Angioplasty. Because of
this successful development of low priced stents, multinational companies are
forced to reduce the cost of Stent from 0.150 million to 0.100 million.
Sahajanand Medical Technologies has once again proved that Indian companies can
compete with R and D based companies worldwide. Today, stents from Sahajanand
are being used successfully in more than 37 countries across the world
including progressing nations like South America, Brazil, Argentina, Italy,
Greece, and Germany.
Medical Technologies and actively contributing in further R and D work.
For benefit of the patients, Sahajanand is making its stents more
authentic with taking a noticeable move. Sahajanand collaborated with the
well-known insurance company and insured its stents. Now, if there is any
problem or failure of the Stent (possibility is lesser than 3 to 4%) patients
can make insurance claim and get help for next stenting procedure. This step is
taken for the benefit of the patient & is hugely acceptable.
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.47.32 |
|
UK Pound |
1 |
Rs.74.20 |
|
Euro |
1 |
Rs.60.73 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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 |
|