MIRA
INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SPAN HEALTHCARE PRIVATE LIMITED |
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Registered
Office : |
No.17, 7th Temple Street, 15th Cross
Malleswaram, Bangalore – 560003, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
20.01.2004 |
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Com. Reg. No.: |
08-033217 |
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Capital
Investment / Paid-up Capital : |
Rs.0.103 Million |
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CIN No.: [Company Identification
No.] |
U02423KA2004PTC033217 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS15356F |
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PAN No.: [Permanent Account No.] |
AAHCS8505N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading in Medical Kits and Equipments |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 230000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. The company is
doing well. Trade relations are reported as fair. Business is active.
Payments are reported to be correct 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
|
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 |
|
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
|
Registered Office / Corporate office : |
No.17, 7th Temple Street, 15th Cross
Malleswaram, Bangalore – 560003, Karnataka, India |
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Tel. No.: |
91-80-23442851/52 |
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Fax No.: |
91-80-23442950 |
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E-Mail : |
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Website : |
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Branch Offices : |
Located At : ·
New Delhi ·
Kolkata ·
Mumbai ·
Chennai ·
Pune ·
Hyderabad |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Anil Kumar Birla |
|
Designation : |
Director |
|
Address : |
No. 308, 6th Cross, I Block, R. T. Nagar, Bangalore 560
032, Karnataka, India |
|
Date of Birth/Age : |
12.10.1965 |
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Date of Appointment : |
25.06.2005 |
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|
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|
Name : |
Mr. Sanjay Ganapathy |
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Designation : |
Managing Director |
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Address : |
No.41/42, 8th Main, RMV Extension, Bangalore 560 080,
Karnataka, India |
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Date of Birth/Age : |
07.12.1964 |
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Date of Appointment : |
20.01.2004 |
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Name : |
Mr. Anupama Ganapathy |
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Designation : |
Director |
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Address : |
No. 41/42 8th Main, RMV Extension, Bangalore 560 080,
Karnataka, India |
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Date of Birth/Age : |
25.06.1966 |
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Date of Appointment : |
15.06.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay Ganpathy |
|
5000 |
|
Anupama Ganpathy |
|
5000 |
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Venkatesh D |
|
100 |
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Hegde A.R. |
|
100 |
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Vishwa Kutumb |
|
100 |
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Total |
|
10300 |
AS ON 30.09.2010
|
Category |
Percentage |
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|
|
|
Bodies corporate |
0.97 |
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Directors or relatives of Directors |
97.08 |
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Other top fifty shareholders |
1.95 |
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|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Medical Kits and Equipments |
GENERAL INFORMATION
|
Bankers : |
·
Citibank
NA, #24, 3rd Floor, Canberra block, UB City, Vittal Mallya Road, Bangalore –
560001, Karnataka, INDIA ·
HDFC Bank |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Rao Associates Chartered Accountant |
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Address : |
17/1, Seshandri Road, Gandhinagar – 560009, Bangalore, India |
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Tel. No.: |
91-80-22260790 |
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Mobile No.: |
91-80-22201160 |
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Fax No.: |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
10300 |
Equity Shares |
Rs.10/- each |
Rs.0.103
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
0.103 |
0.103 |
0.103 |
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2] Share Application Money |
1.525 |
1.525 |
1.525 |
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3] Reserves & Surplus |
56.550 |
23.075 |
19.267 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
58.178 |
24.703 |
20.895 |
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|
LOAN FUNDS |
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|
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|
1] Secured Loans |
39.104 |
28.812 |
10.633 |
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2] Unsecured Loans |
6.183 |
2.983 |
1.983 |
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TOTAL BORROWING |
45.287 |
31.795 |
12.616 |
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DEFERRED TAX LIABILITIES |
0.264 |
0.319 |
0.159 |
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TOTAL |
103.729 |
56.817 |
33.670 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
25.870 |
26.802 |
24.354 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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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|
|
|
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Inventories |
65.648
|
34.208 |
20.807 |
|
|
Sundry Debtors |
48.383
|
28.639 |
16.411 |
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|
Cash & Bank Balances |
5.115
|
4.066 |
6.635 |
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|
Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
27.777
|
13.180 |
5.236 |
|
Total
Current Assets |
146.923
|
80.093 |
49.089 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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|
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Other Current Liabilities |
60.074
|
49.910 |
37.669 |
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Provisions |
8.990
|
0.168 |
2.110 |
|
Total
Current Liabilities |
69.064
|
50.078 |
39.779 |
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|
Net Current Assets |
77.859
|
30.015 |
9.310 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.006 |
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TOTAL |
103.729 |
56.817 |
33.670 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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GROSS INCOME |
280.530 |
166.686 |
113.177 |
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
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|
156.102 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
223.275 |
156.102 |
100.411 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
57.255 |
10.584 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
4.793 |
4.528 |
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PROFIT BEFORE
TAX |
52.461 |
6.055 |
12.765 |
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Less |
TAX |
18.987 |
2.247 |
4.456 |
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PROFIT AFTER TAX
|
33.474 |
3.808 |
8.306 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
23.075 |
19.267 |
NA
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BALANCE CARRIED
TO THE B/S |
56.550 |
23.075 |
19.267 |
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Earnings Per
Share (Rs.) |
3249.97 |
369.72 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
11.93
|
2.28 |
7.33 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
30.36
|
5.66 |
17.38 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.90
|
0.24 |
0.61 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.96
|
3.31 |
2.50 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.12
|
1.59 |
1.23 |
LOCAL AGENCY FURTHER INFORMATION
FROM : 8
|
Corporate identity number of the company |
U02423KA2004PTC033217 |
|
Name of the company |
SPAN HEALTHCARE PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
NO.17, 7th Temple Street, 15th
Cross, Malleswaram, Bangalore 560 003, Karnataka, INDIA |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of charge holder |
Citibank NA, #24, 3rd Floor, Canberra
block, UB City, Vittal Mallya Road, Bangalore – 560001, Karnataka, INDIA |
|
Nature of instrument creating charge |
Goods Security Agreement |
|
Date of instrument Creating the charge |
26/03/2011 |
|
Amount secured by the charge |
Rs. 106.700 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest As agreed to from time to time Terms
of repayment Repayable on demand Margin As determined to from time to time Extent
and operation of the charge First Charge by way of hypothecation of movable
assets (including stocks and book debts) forming part of current assets both
present and future. Other
Nil |
|
Short particulars of the property charged
(Including location of the property) |
1 Whole of the Borrower's stocks of raw materials,
goods in process of manufacture, semi finished goods, all finished and
manufactured goods and articles together with all stores, components and
spares 2 All of the present and future book
debts, outstanding monies, receivables, claims, bills, investments,
securities, rights to or in moveable properties and moveable assets forming
part of current assets |
FIXED ASSETS :
·
Plant and Machinery
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Improvement to Leasehold Premises
·
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 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. 45.10 |
|
|
1 |
Rs. 71.87 |
|
Euro |
1 |
Rs. 63.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.