MIRA
INFORM REPORT
|
Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
FORTIS HOSPITALS LIMITED |
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Registered
Office : |
Fortis International Institute of Medical Sciences,
Sector-44, Gurgaon – 122 003, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.06.2009 |
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Com. Reg. No.: |
039212 |
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Capital
Investment / Paid-up Capital : |
Rs.200.500
millions |
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|
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CIN No.: [Company Identification
No.] |
U93000HR2009PLC039212 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKF00530F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Healthcare
Services |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 7425000 |
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Status : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Fortis Healthcare Limited. It is a relatively new company and establishing itself gradually.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealings with some
cautions. |
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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
|
Registered Office : |
Fortis International Institute of Medical Sciences,
Sector-44, Gurgaon – 122 003, |
|
E-Mail : |
sunil.singla@fortishealthcare.com |
|
Website : |
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Institute
and Research Centre : |
Escorts Heart Institute and Research Centre, |
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Tel. No.: |
91-11-26825000-1 |
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Fax No.: |
91-11-41628435 |
DIRECTORS
As on 30.06.2010
|
Name : |
Mr. Malvinder Mohan Parvinder Singh |
|
Designation : |
Chairman |
|
Address : |
Vistas 26, |
|
Date of Birth/Age : |
27.11.1972 |
|
Date of Appointment : |
17.12.2009 |
|
Date of Ceasing : |
07.03.2011 |
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DIN No.: |
00042981 |
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|
|
|
Name : |
Mr. Shivinder Mohan Parvinder Singh |
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Designation : |
Director |
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Address : |
No1, |
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Date of Appointment : |
18.06.2009 |
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DIN No.: |
00042910 |
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|
|
Name : |
Mr. Balinder Singh Dhillon |
|
Designation : |
Director |
|
Address : |
R/o 139, Sector-
8A, |
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Date of Birth/Age : |
06.09.1966 |
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Date of Appointment : |
17.12.2009 |
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Date of Ceasing : |
07.03.2011 |
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DIN No.: |
02500621 |
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|
|
|
Name : |
Mr. Sunil Naraindas Godhwani |
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Designation : |
Director |
|
Address : |
A-2, lnayat Farm, Fatehpur Beri, P.O. Mehrauli, New Delhi – 110 030,
India |
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Date of Birth/Age : |
10.12.1960 |
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Date of Appointment : |
17.12.2009 |
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Date of Ceasing : |
07.03.2011 |
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DIN No.: |
00174831 |
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Name : |
Mr. Vishal Bali |
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Designation : |
Director and Chief Executive Officer |
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Address : |
Flat # 3-C-3, Regency Place, |
|
Date of Appointment : |
17.12.2009 |
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DIN No.: |
01457380 |
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|
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Name : |
Mr. Yogesh Rakesh Pal Sareen |
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Designation : |
Additional Director |
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Address : |
H. No. ES 083, Nirvana Country, Gurgaon – 122 004, |
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Date of Birth/Age : |
11.10.1964 |
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Date of Appointment : |
07.03.2011 |
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DIN No.: |
00884252 |
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Name : |
Mr. Daljit Daulat Singh |
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Designation : |
Additional Director |
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Address : |
B-6/9, DLF, Phase - I, Gurgaon – 122 001, |
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Date of Birth/Age : |
29.01.1953 |
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Date of Appointment : |
07.03.2011 |
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DIN No.: |
00135414 |
KEY EXECUTIVES
|
Name : |
Mr. Prashanth
Dinesh Mallya |
|
Designation : |
Secretary |
|
Address : |
403, JJ Paradise, No. 16,Vinayaka layout,, Vijaynagar, |
|
Date of Appointment : |
15.03.2010 |
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PAN No.: |
AFEPM9996C |
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|
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Name : |
Niranjan Banshidhar Goyal |
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Designation : |
Secretary |
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Address : |
Flat 108, KK Residency, 27, Shivalingiah Colony, HAL, |
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Date of Birth/Age : |
29.09.1976 |
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Date of Appointment : |
07.03.2011 |
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PAN No.: |
ADYPG4134G |
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|
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|
Name : |
Mr. Lloyd Nazareth |
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Designation : |
Chief Operating Officer |
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|
Name : |
Mr. Kumar S. Krishnaswamy |
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Designation : |
Group Head |
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Name : |
Partha Pratim Das |
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Designation : |
Deputy General Manager |
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Name : |
Mr. Dilip Jose P. |
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Designation : |
General Manager |
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Name : |
Mr. Schreyas Nair |
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Designation : |
General Manager |
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Name : |
Mr. Karthik Rajagopal |
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Designation : |
General Manager |
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|
Name : |
Mr. Sailesh Burra |
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Designation : |
General Manager |
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Name : |
|
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Designation : |
Associate Vice President |
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|
Name : |
V. Vijayarathna |
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Designation : |
General Manager |
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|
Name : |
Mr. Sanjay Bokadia |
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Designation : |
Chief Finance Officer |
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|
Name : |
Mr. Prashant Pikle |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2010
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Fortis Healthcare Limited, |
20049994 |
99.99 |
|
Nominees, Fortis Healthcare Limited, |
6 |
0.01 |
|
Total
|
20050000 |
100.00 |
As on 28.12.2010
|
Names of Allottees |
|
No. of Shares |
|
Fortis Healthcare Limited, |
|
16700577 |
|
Total
|
|
16700577 |
As on 30.06.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing
Healthcare Services |
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|
GENERAL INFORMATION
|
Bankers : |
v
IndusInd Bank Limited, 2401, v
Central Bank of |
|||||||||||||||||||||||||||
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Facilities : |
Notes :- 1) Term Loan
from a Bank amounting to Rs.1500.000 millions is secured by: First pari passu
charge on the moveable fixed assets of certain owned hospitals and leased
hospitals and equitable mortgage of those owned hospitals. This loan is
further secured by Corporate Guarantee issued by the Holding Company. 2) Term Loan from a Bank amounting to Rs.2000.000 millions is secured
by: First pari passu
charge on the assets (tangible and intangible, moveable and immoveable)
acquired out of acquisition. This loan is further secured by Corporate
Guarantee issued by the Holding Company. 3) Term Loan
from a Bank amounting to Rs.500.000 millions is secured by: First charge
over land and building, moveable fixed assets by way of equitable mortgage.
This loan is further secured by Corporate Guarantee issued by the Holding
Company.
*Term Loan from
the bank is secured by equitable mortgage charge on land and buildings of |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S.R. Batliboi and Company (Pankaj Chadha) Chartered Accountants |
|
Address : |
Sector-42, |
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Tel. No.: |
91-124-4644000 |
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Fax No.: |
91-124-4644050 |
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Holding Company : |
Fortis
Healthcare Limited CIN No.: L85110DL1996PLC076704 Address:
Escorts Heart Institute and Research Centre, |
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|
Ultimate Holding
Company : |
Fortis
Healthcare Holdings Limited |
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|
Subsidiaries : |
Kanishka Housing
Development Company Limited (TRF.) CIN No.: U45200MH1988PLC157216 |
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Fellow Subsidiaries : |
v International Hospitals Limited, Noida v Fortis Hospotel Limited v Fortis Health Management Limited v Fortis Hospital Management Limited v Escorts Heart institute and research Centre Limited v
Escorts Heart and v
Escorts Heart and Super Speciality Institute
Limited, v
v
Escorts Heart Centre Limited, v Fortis Hospitals Management v Fortis Health Management Limited v Fortis Healthcare International Limited v Fortis Health Staff Limited v Religare Wellness Limited v Medsource Healthcare Private Limited v SAK Consumer Retail Services Limited v Lifetime Healthcare private Limited v Pills and Powder Private Limited v Hospitallia Eastern Private Limited |
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|
Enterprises
owned or significantly influenced by key management personnel or their
relatives : |
v Super Religare
Laboratories Limited v Ranbaxy
Laboratories Limited v RHC Holding
Private Limited v Fortis Nursing
and Education Society v Religare
Securities Limited v Religare
Commodities Limited v Religare Finvest
Limited v Ran Air Services
Limited v Religare Travels
( v Religare
Technova IT Services Limited v Oscar
Investments Limited v Malav Holdings
Limited v Religare Mutual
fund v Religare
Hitchsons PLC v Sunrise Medicare
Private Limited v Malar Hospitals
Limited v Hiranandani
Healthcare Private Limited v
Medical and Surgical Centre Limited, |
CAPITAL STRUCTURE
As on 30.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20050000 |
Equity Shares |
Rs.10/- each |
Rs.200.500
millions |
|
|
|
|
|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20050000 |
Equity Shares |
Rs.10/- each |
Rs.200.500
millions |
|
|
|
|
|
Of the above:
20,050,000 Equity
Shares are held by Fortis Healthcare Limited, the Holding Company. The ultimate
holding company is Fortis Healthcare Holdings Limited.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
200.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1800.000 |
|
|
4] (Accumulated Losses) |
|
|
(144.317) |
|
|
NETWORTH |
|
|
1856.183 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
4009.555 |
|
|
2] Unsecured Loans |
|
|
3814.745 |
|
|
TOTAL BORROWING |
|
|
7824.300 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
9680.483 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
7702.602 |
|
|
Capital work-in-progress (including Capital Advances) |
|
|
1161.915 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
813.945 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
84.718 |
|
|
Sundry Debtors |
|
|
271.839 |
|
|
Cash & Bank Balances |
|
|
107.271 |
|
|
Other Current Assets |
|
|
53.654 |
|
|
Loans & Advances |
|
|
191.426 |
|
Total
Current Assets |
|
|
708.908 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
510.022 |
|
|
Other Current Liabilities |
|
|
190.050 |
|
|
Provisions |
|
|
24.462 |
|
Total
Current Liabilities |
|
|
724.534 |
|
|
Net Current Assets |
|
|
(15.626) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
17.647 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
9680.483 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Income |
|
|
1085.044 |
|
|
|
Other Income |
|
|
3.486 |
|
|
|
TOTAL (A) |
|
|
1088.530 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed |
|
|
291.867 |
|
|
|
Personnel Expenses |
|
|
158.200 |
|
|
|
Operating Expenses |
|
|
335.228 |
|
|
|
Selling, General and Administrative Expenses |
|
|
145.179 |
|
|
|
TOTAL (B) |
|
|
930.474 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
158.056 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
205.447 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(47.391) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
96.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
(144.317) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
(144.317) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income from medical services |
|
|
85.082 |
|
|
TOTAL EARNINGS |
|
|
85.082 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(19.62) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
PAT / Total Income |
(%) |
|
|
(13.26) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
(13.30) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(1.72) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
4.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.98 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND:
The Company is incorporated on June 18, 2009 as a wholly
owned subsidiary of Fortis Healthcare Limited (‘FHL’). The Company entered into
a business transfer agreement with Wockhardt Hospitals Limited on August 24,
2009 to acquire business division consisting of 10 hospitals situated at
CAPITAL STRUCTURE:
During the year,
the Authorized Share Capital of the Company was increased from Rs.50.000
millions to Rs.250.000 millions.
During the year
the Company allotted 2,00,00,000 equity shares of Rs.10 each to its Holding
company Fortis Healthcare Limited.
As on March 31,
2010, the issued share capital of the Company was Rs.200.500 millions
comprising of 2,00,50,000 Equity shares of Rs.10 Each.
ACQUISITION:
The Company had
entered into an agreement to acquire 10 Wockhardt hospitals in metro cities of
Mumbai,
The acquisition
was completed in December 17th, 2009 with the acquisition of
With the addition
of the 10 Wockhardt hospitals, The Company would now have six hospitals in
SUBSIDIARIES:
During the year
the Company acquired 10, 250 shares Kanishka Housing Development Company
Limited (KHDCL) by way of purchase / acquisition of its entire existing share
capital, in order to make KHDCL it a wholly-owned subsidiary of the Company at
an investment of Rs.139.400 millions.
FORM 8:
|
Corporate
identity number of the company |
U93000HR2009PLC039212 |
|
Name of the
company |
FORTIS HOSPITALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Fortis International Institute of Medical Sciences,
Sector-44, Gurgaon – 122 003, E-Mail: rajsarvotham@gmail.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Central Bank of E-Mail: investors@centralbank.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
Declaration cum
undertaking signed by the company Memorandum of
equitable Mortgage by deposit of title deeds recording deposit of title
deeds of property as security for
repayment of credit facility of
Rs.2000.000 millions granted by Central Bank of India to Fortis
Hospitals Limited. |
|
Date of
instrument Creating the charge |
22.02.2011 |
|
Amount secured by
the charge |
Rs.2000.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As decided by
bank time to time Terms of
Repayment: As per agreement Margin: As per agreement Extent and
Operation of the charge: As per agreement |
|
Short particulars
of the property charged |
Immovable
Property bearing Plot No-I-28/1, R.S. Dag No. 525, 525/582 of Mouza,
Nonadanga, J.L. No. 10, Premises No.730, Anandapur Police Station, Tiljala,
Kolkata- 700 107 measuring about 90 Cottahs. Immovable Property
bearing No. A having a super built area 1107.05 sq. feet, bearing BBMP Katha
No. 14/6, situated on mezzanine floor of multistoried Commercial Complex
known as Sheriff Chambers together with 492/29377th of undivided share,
right, title and interest, in Property bearing Muncipal No. 14(Old No.10),
situated at Immovable
property, Land measuring about 7240 Sq. ft. together with a structure (G+5)
measuring about 22337.46 Sq. ft. together with 15 car parking space situate
at Premises No. 111A and 111B, Rashbehari Avenue, P.S. Lake, Kolkata together
with hospital building created by Fortis Hospital. Part1-Commercial
Apartment No. B1 bearing BBMP Katha
No. 14/3, built area 2765 sq. feet on basement of Sheriff Chambers together
with 1230/29377 undivided share, right, title and interest building in the
property bearing Municipal No.14 situated at Sampangi Ramaswamy Temple Road,
Division No.59 Bangalore, Part 2-Commercial Apartment No. A2 bearing BBMP katha No. 14/8 having a super
built area of 3,771 sq. feet on ground floor rear side of the building known
as Sheriff Chambers together with 1677/29377th undivided share, right, title
and interest building in the property Part 3-Commercial Apartment No. B2
bearing BBMP Katha No. 14/2 having a super built area of 2,225 sq. feet on
the basement floor of the building known as Sheriff Chambers together with
990/29377th undivided share, right, title and interest building in the
property bearing Municipal No. 14 (Old No. 10) situated at Sampangi Ramaswamy
Temple Road, Division No.59, Bangalore |
CONTINGENT LIABILITIES (NOT
PROVIDED FOR) IN RESPECT OF:
|
Particulars |
31.03.2010 (Rs.
in millions) |
|
Claims against the Group not acknowledged as debts (in
respect of compensation demanded by the patients/ their relatives for
negligence). The cases are pending with various Consumer Disputes Redressal
Commissions. Based on the analysis of in house legal team, the management
believes that the Company has a good chance of success in these cases. Hence,
no provision there against is considered necessary. |
14.094 |
|
Customs duty on import of medical equipments |
16.649 |
|
|
|
FIXED ASSETS:
Intangible Assets
v
Non Compete
v
Right of use of Land
v
Software
Tangible Assets
v
v
v
Building
v
Leasehold Improvements
v
Plant and Machinery
v
Medical Equipments
v
Furniture and Fittings
v
Computers
v
Office Equipments
v
Vehicles
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 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.45.03 |
|
|
1 |
Rs.74.43 |
|
Euro |
1 |
Rs.64.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
27 |
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.