MIRA
INFORM REPORT
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Report Date : |
08.01.2011 |
IDENTIFICATION DETAILS
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Name : |
QUALITY CARE INDIA LIMITED |
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Formerly Known
As : |
A. K. DIAGNOSTICS LIMITED |
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Registered
Office : |
6-3-248/2, Road No.1, Banjara Hills, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
07.09.1992 |
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Com. Reg. No.: |
014728 |
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CIN No.: [Company Identification
No.] |
U85110AP1992PLC014728 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Company is engaged in providing primary as well as
Tertiary Healthcare Services. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (53) |
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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 6000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
6-3-248/2, Road No.1, Banjara Hills, |
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Tel. No.: |
91-40-30116011/ 30116019 |
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E-Mail : |
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Website : |
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Corporate Office : |
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Tel. No.: |
91-40-30116000 |
DIRECTORS
(AS ON 30.09.2009)
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Name : |
Mr. Dr. Bhupathiraju Soma Raju |
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Designation : |
Chairman and Managing Director |
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Address : |
Plot No.29, Road No.5,
Banjara Hills, |
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Date of Birth/Age : |
14.08.1946 |
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Date of Appointment : |
15.09.1999 |
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DIN No.: |
01226532 |
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Name : |
Mr. Dr. Nallamala Krishna Reddy |
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Designation : |
Director |
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Address : |
2-3/1, Street No.2, Kakatiya Nagar, Habsiguda, |
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Date of Birth/Age : |
01.03.1961 |
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Date of Appointment : |
17.05.2004 |
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DIN No.: |
00910584 |
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Name : |
Mr. Devineni Suresh |
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Designation : |
Director |
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Address : |
8-2-5473//1, Banjara Hills, |
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Date of Birth/Age : |
16.09.1957 |
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Date of Appointment : |
15.09.1999 |
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DIN No.: |
00202605 |
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Name : |
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Designation : |
Whole Time Director |
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Address : |
H. No.14, Sujatha Nilayam, Park Avenue, Ramakrishna Nagar, Hyderabad –
500016, Andhra Pradesh, India |
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Date of Birth/Age : |
24.08.1944 |
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Date of Appointment : |
17.05.2004 |
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DIN No.: |
00840662 |
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Name : |
Mr. Chunduri Ramakrishna |
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Designation : |
Director |
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Address : |
Plot No.423, Road No.19, Jubilee Hills, |
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Date of Birth/Age : |
15.08.1956 |
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Date of Appointment : |
26.09.2006 |
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DIN No.: |
00204774 |
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Name : |
Mr. John Michael Lind |
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Designation : |
Director |
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Address : |
515 Via Sinuosa, |
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Date of Birth/Age : |
11.02.1965 |
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Date of Appointment : |
14.12.2007 |
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DIN No.: |
01516635 |
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Name : |
Mr. Rajiv Amrish Agarwal |
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Designation : |
Director |
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Address : |
3rd Floor, Chamaria Nivas, |
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Date of Birth/Age : |
28.03.1971 |
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Date of Appointment : |
26.09.2006 |
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DIN No.: |
00379990 |
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Name : |
Mr. Dr. Gullapalli Nageswara Rao |
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Designation : |
Director |
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Address : |
Plot |
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Date of Birth/Age : |
21.09.1945 |
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Date of Appointment : |
18.01.2008 |
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DIN No.: |
02091807 |
KEY EXECUTIVES
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Name : |
Mr. Dr. N. Krishna Reddy |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. Nidjelli Anjaneyulu |
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Designation : |
Company Secretary |
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Address : |
Plot No. 75, Srinivasa Enclave, Near Nivedita Vidyalayam, |
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Date of Birth/Age : |
22.06.1974 |
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Date of Appointment : |
01.08.2007 |
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Pan No.: |
ACFPN6912K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2009)
LIST OF SHARE HOLDERS AS PER LIST ENCLOSED
(AS ON 30.09.2009)
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Category |
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Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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22.46 |
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Bodies corporate |
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26.90 |
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Directors or relatives of directors |
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15.53 |
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Other |
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35.11 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Company is engaged in providing primary as well as
Tertiary Healthcare Services. |
GENERAL INFORMATION
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Bankers : |
· Andhra Bank Banjara Hills Branch, Road No.1, Banjara hills, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountant |
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Address : |
8-2-293/82A/1131A, Road No.36, Jubilee Hills, |
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Tel. No.: |
91-40-66246600 |
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Fax No.: |
91-40-66246400 |
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Associates/Subsidiaries : |
U85110AP1998PTC030685 Ganga Care Hospital Limited U85110MH2005PLC150811 Care Institute of Medical Sciences Limited L55101AP1984PLC004626 Ramkrishna Care Medical Sciences Private Limited U85110CT1998PTC013035 Galaxy Care Laparoscopy Institute Private Limited U85110PN2005PTC020122 Quality Care Pharma Trading Private Limited U24232AP2008PTC058942 Care Health Clinics Private Limited U85110AP2008PTC062370 Quality Care Health Services Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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30000000 |
Equity Share |
Rs.10/- each |
Rs.300.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
24435542 |
Equity Share |
Rs.10/- each |
Rs.244.355
Millions |
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Of the above:
(i) 2,187,524 Equity
Shares of Rs.10/- each have been issued as Bonus Shares by capitalisation of
surplus in the Profit and Loss Account.
(ii) 1,183,000 Equity
Shares of Rs.10/- each fully paid-up had been allotted for consideration
received other than in cash.
(iii) The Company has
issued 1,675,000 warrants at a premium of Rs.30/- each convertible into equity
shares of Rs.10/- each and 2,100,000 warrants at a premium of Rs.50/- each
convertible into equity shares of Rs.10/- each which are outstanding as at
March 31, 2009.
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
244.355 |
244.355 |
193.270 |
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2] Share Application Money |
6.700 |
6.700 |
6.700 |
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3] Reserves & Surplus |
1324.345 |
1284.102 |
428.266 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1575.400 |
1535.157 |
628.236 |
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LOAN FUNDS |
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1] Secured Loans |
949.083 |
946.566 |
542.253 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
949.083 |
946.566 |
542.253 |
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DEFERRED TAX LIABILITIES |
44.790 |
45.010 |
48.112 |
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TOTAL |
2569.273 |
2526.733 |
1218.601 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1350.120 |
894.366 |
605.740 |
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Capital work-in-progress |
106.404 |
312.698 |
55.301 |
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INVESTMENT |
225.811 |
694.386 |
87.165 |
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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 |
75.887
|
66.743 |
58.329 |
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Sundry Debtors |
328.369
|
314.968 |
233.310 |
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Cash & Bank Balances |
376.366
|
260.584 |
28.656 |
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Other Current Assets |
0.126
|
0.156 |
0.017 |
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Loans & Advances |
647.038
|
464.268 |
397.787 |
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Total
Current Assets |
1427.786
|
1106.719 |
718.099 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
0.000
|
0.000 |
3.383 |
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Other Current Liabilities |
520.661
|
465.777 |
236.970 |
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Provisions |
20.187
|
15.659 |
7.460 |
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Total
Current Liabilities |
540.848
|
481.436 |
247.813 |
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Net Current Assets |
886.938
|
625.283 |
470.286 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.108 |
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TOTAL |
2569.273 |
2526.733 |
1218.601 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Hospital Revenue |
2387.152 |
1945.820 |
1546.528 |
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Other Income |
65.772 |
49.775 |
46.040 |
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TOTAL (A) |
2452.924 |
1995.595 |
1592.568 |
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Less |
EXPENSES |
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Medical Supplier Consumption |
788.875 |
616.565 |
482.852 |
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Professional Charges |
441.848 |
366.563 |
270.087 |
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Operating Expenses |
333.268 |
298.926 |
224.713 |
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Payments and Benefits to Employees |
351.316 |
292.903 |
191.802 |
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Administrative and Other Expenses |
253.603 |
204.357 |
135.931 |
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TOTAL (B) |
2168.910 |
1779.314 |
1305.385 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
284.014 |
216.281 |
287.183 |
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Less |
FINANCIAL
EXPENSES (D) |
113.339 |
90.219 |
52.266 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
170.675 |
126.062 |
234.917 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
98.283 |
105.570 |
53.103 |
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PROFIT BEFORE TAX
(E-F) (G) |
72.392 |
20.492 |
181.814 |
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Less |
TAX (H) |
32.149 |
12.453 |
54.902 |
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PROFIT AFTER TAX
(G-H) (I) |
40.243 |
8.039 |
126.912 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
226.517 |
219.753 |
92.841 |
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|
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|
|
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Less |
Adjustment on account
of intial adoption of Accounting Standard 15 (revised 2005) on ‘Employee
Benefits’ |
-- |
1.275 |
-- |
|
|
|
|
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|
BALANCE CARRIED TO
THE B/S |
266.760 |
226.517 |
219.753 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
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|
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|
Hospital Revenue |
4.060 |
4.104 |
NA |
|
|
TOTAL EARNINGS |
4.060 |
4.104 |
NA |
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IMPORTS |
|
|
|
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Capital Goods |
14.392 |
122.037 |
NA |
|
|
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Stores & Spares |
8.989 |
1.655 |
NA |
|
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TOTAL IMPORTS |
23.381 |
123.692 |
NA |
|
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|
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|
|
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Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
1.65 |
0.36 |
6.57 |
|
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|
- Diluted |
1.43 |
0.31 |
6.38 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
1.64
|
0.40 |
7.97 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
3.03
|
1.05 |
11.76 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.61
|
1.02 |
13.73 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.01 |
0.29 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.95
|
0.93 |
1.26 |
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Current Ratio (Current Asset/Current Liability) |
|
2.64
|
2.30 |
2.90 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW
OF OPERATIONS
During the Financial Year 2008 -09 the company recorded in
business growth and performance.
The Company has excelled in its financial performance by
achieving a turnover of Rs.2452.924 Millions registering a growth of 23% over
the previous year’s turnover of Rs.1995.595 Millions. The profit before
depreciation and tax is Rs.170.676 Millions and the profit after depreciation
and tax is Rs.40.243 Millions.
The Year 2008 - 09 ended with a gross operating profit and net
profit of Rs.284.015 Millions and Rs.40.243 Millions respectively as against
the gross Profit and net Profit of Rs.216.280 Millions and Rs.8.039 Millions
respectively during the Previous Year
CONTINGENT
LIABILITIES - (RS. IN MILLIONS)
|
Particulars |
31.03.2009 |
31.03.2008 |
|
Matters under dispute |
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§
Income Tax §
Tax Deducted at Source §
Sales Tax §
Labour Commission §
|
12.587 34.539 3.563 2.500 0.230 |
12.587 -- 3.951 2.500 0.230 |
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Claims against the company not acknowledged as debt |
19.293 |
37.410 |
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Corporate Guarantee issued on behalf of Subsidiary companies |
146.750 |
146.750 |
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|
|
|
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Luxury Tax |
24.512 |
20.620 |
FORM 8:
|
Corporate identity
number of the company |
U85110AP1992PLC014728 |
|
Name of the
company |
Quality Care
India Limited |
|
Address of the
registered office or of the principal place of business in |
6-3-248/2, Road
No.1, Banjara Hills, |
|
This form is for |
Modification of charge |
|
Type of charge |
Movable property (not being pledge) Book Debts |
|
Particular of
charge holder |
Andhra Bank Banjara Hills
Branch, Road No.1, Banjara Hills, |
|
Nature of instrument
creating charge |
1.Demand
Promissory Note Dated 15th July,2010 2.Composite
Agreement Dated 15th July,2010 3. General Form
of Guarantee Dated 15th July,2010 |
|
Date of
instrument Creating the charge |
15.07.2010 |
|
Amount secured by
the charge |
Rs.200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: BMPLR 1.75%
presently 10.25% Terms of
Repayment: Open Cash Credit
Facility for a period of One year Margin: 25% On
stocks and Receivables of age not
older than 180 days Extent and
Operation of the charge: 1. Exclusive
Charge on the Current Assets (Stores, Spares, Consumables, Inventory of Drugs
and Disposables and Book Debts of Government Bodies and first class
Corporates and all other current assets of the Company. 2. Second Charge
on the Fixed Assets of the Company 3. Second Charge
on Fixed Assets of Care Institute of Medical Sciences Limited 4. Second Charge
on pledge of 35,64,839 Share held by Quality Care India Limited in Care
Institute of Medical Sciences Limited |
|
Particulars of
the property charged |
1. Exclusive Charge on the Current Assets
(Stores, Spares, Consumables, Inventory of Drugs and Disposables and Book
Debts of Government Bodies and first class Corporates and all other current 2.Second Charge
on the Fixed Assets of the Company 3. Second Charge
on Fixed Assets of Care Institute of Medical Sciences Limited 4. Second Charge
on pledge of 35,64,839 Share held by Quality Care India Limited in Care Institute
of Medical Sciences Limited |
|
Particulars of
the present modification |
1. Original
Charge for Rs.50.000 Millions created
on 17.03.2004 and the same was registered by ROC on 24.05.2004 vide
Document No.28 2. OCC Limits
enhance from Rs.50.000 Millions to 75.000 Millions and with a fresh FLC Limit
of Rs.4.500 Millions on 01.12.2005 3. OCC
Limits was enhanced from 75.000
Millions to 110.000 Millions with FLC Limit of Rs.4.500 Millions on
18.10.2007 4. OCC Limits enhance from 110.000 Millions to
150.000 Millions on 25.03.2009 5. Presently OCC
Limits enhance from 150.000 Millions to 200.000 Millions. |
|
Name of the company |
Quality Care India Limited |
|
Presented By |
Manager, Andhra Bank, Banjara hills |
|
1) Date and description of instrument creating the change |
Term Loan
Agreement – 19.01.2002 Hypothecation of
Movable Machinery – 19.01.2002 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.70.000
Millions |
|
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 |
2nd
Charge on all fixed assets of the company charged to ICICI bank and Induslnd Bank.
Hypothecation of Medical equipment to be acquired. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Term Loans and
FLC Limits sanctioned. Term Loan repayable
in 60 monthly installments with initial holiday of 6 months |
|
5) Name and Address and description of the person entitled to the charge. |
Andhra bank Banjara Hills
Branch, |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
FIXED ASSETS:
· Land
· Building
· Leasehold Improvements
· Plant and Equipments
· Furniture and Fixtures
· Office Equipment
· Computers
· Vehicles
WEBSITE DETAILS:
PROFILE:
CARE is one of the fastest growing hospital chains in
CARE’s reputation for its humanitarian and selfless service
has ranked this esteemed institution as the fourth largest healthcare provider
in
GROUP COMPANIES
CARE HOSPITALS
CARE
Hospitals, a for-profit entity, is evolving integrated and networked healthcare
delivery models both horizontally and vertically that suit the needs of the population
across geographic (rural and urban) and social (low to high income groups)
spectra.
It
has grown rapidly from 100 beds to 1500 beds and from one unit to thirteen
units within a span of decade, currently serving a million patients in the
out-patients and around fifty thousand admissions annually, of which cardiac
volumes constitute half of the patient load.
While achieving the clinical
outcomes on par with international standards, CARE has been able to make
advanced procedures at a fraction of international costs thereby contributing
substantial share in promoting
CARE
FOUNDATION
CARE Foundation, a not-for-profit society, is evolving in
the domains of innovations in medical education and training, healthcare
research, channelizing charity to poor patients, and adopting technology to
reach to people in communities – both rural and urban. It operates in a network
environment with various public and private institutions.
CARE has embarked on an ambitious Rural Health Initiative,
covering nearly 1 million rural people, to come up with self-sustainable and
scalable rural healthcare delivery model at an affordable cost less than USD10
per person per annum. ! Its model of delivery through Telemedicine at a remote
town has already benefited 20,000 patients during last 3 years.
CARE’s collaboration with local and private NGOs and
international public health institutes yielded a gratifying reduction in
strokes and other hypertension related events through a cost-effective
intervention in the management of hypertension at a cost of USD 3 per annum.
It currently coordinates various medical, nursing,
paramedical and hospital managerial courses.
CARE has become a preferred destination for various
multinational sponsored clinical trials due to a well established research
culture and training. 75 trials are concurrently running at any point of time.
FOCUS
AREAS
Education and Training
§
Medical
§
Nursing
§
Paramedical
§
Management
Social
§
Little Hearts Fund
§
Care Relief
§
Care Kidney
Research
§
Epidemiology
§
Basic Research
§
Clinical Research
§
Technology Devices
Healthcare
§
Preventive Medicine
§
Community Health
§
Tele-Medicine
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.45.37 |
|
|
1 |
Rs.70.04 |
|
Euro |
1 |
Rs.58.98 |
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 |
5 |
|
--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 |
|
53 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.