MIRA
INFORM REPORT
|
Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
HARMAN FINOCHEM LIMITED |
|
|
|
|
Registered
Office : |
107-A, Vinay Bhavya Complex, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
17.03.1983 |
|
|
|
|
Com. Reg. No.: |
11-29560 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.47.636 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1983PLC029560 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and |
|
|
|
|
No. of Employees |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 3600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
107-A, Vinay Bhavya Complex, |
|
Tel. No.: |
91-22-26528080 / 67330100 |
|
Fax No.: |
91-22-26528285 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Bhupinder Singh Manhas |
|
Designation : |
Managing Director |
|
Address : |
107-A, Vinaya Bhavya Complex, 159-A, CST Road, Kalina, Santacruz
(East), Mumbai – 400 098, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1950 |
|
Date of Appointment : |
17.03.1983 |
|
DIN No.: |
00121253 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24110MH1983PLC029560 |
Harman Finochem
Limited |
Managing
director |
17-03-83 |
17-03-83 |
Active |
NO |
|
2 |
U24230MH1989PTC132889 |
Well Worth
Medicines Private Limited |
Director |
31-10-96 |
31-10-96 |
Active |
NO |
|
3 |
U30005MH1995PTC084585 |
Sanskar Info TV
Private Limited |
Additional
director |
08-09-10 |
08-09-10 |
Active |
NO |
|
|
|
|
Name : |
Ms. Inderjeet Kaur Manhas |
|
Designation : |
Director |
|
Address : |
107-A, Vinaya Bhavya Complex, 159-A, CST Road, Kalina, Santacruz (East), Mumbai – 400 098, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1951 |
|
Date of Appointment : |
11.02.1997 |
|
DIN No.: |
00121284 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24230MH1989PTC132889 |
Well Worth
Medicines Private Limited |
Director |
15-07-96 |
15-07-96 |
Active |
NO |
|
2 |
U24110MH1983PLC029560 |
Harman Finochem
Limited |
Director |
11-02-97 |
11-02-97 |
Active |
NO |
|
3 |
U25202MH1984PTC197665 |
Kirti
Merchantile Private Limited |
Director |
02-01-06 |
02-01-06 |
Active |
NO |
|
|
|
|
Name : |
Mr. Harpreet Singh Manhas |
|
Designation : |
Director |
|
Address : |
107-A, Vinaya Bhavya Complex, 159-A, CST Road, Kalina, Santacruz (East), Mumbai – 400 098, Maharashtra, India |
|
Date of Birth/Age : |
02.09.1976 |
|
Date of Appointment : |
11.02.1997 |
|
DIN No.: |
00121336 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24110MH1983PLC029560 |
Harman Finochem
Limited |
Director |
11-02-97 |
11-02-97 |
Active |
NO |
|
2 |
U67120MH1995PTC095124 |
Laxmi Ramuna
Investments Private Limited |
Director |
01-10-99 |
01-10-99 |
Active |
NO |
|
3 |
U24230MH1989PTC132889 |
Well Worth
Medicines Private Limited |
Director |
24-08-01 |
24-08-01 |
Active |
NO |
|
4 |
U25202MH1984PTC197665 |
Kirti
Merchantile Private Limited |
Director |
02-01-06 |
02-01-06 |
Active |
NO |
|
5 |
U99999MH1974PTC017240 |
Summerset Gardens
Resort Private Limited |
Additional
director |
24-11-10 |
24-11-10 |
Active |
NO |
|
|
|
|
Name : |
Mr. Gurpreet Singh Bhupinder Singh Manhas |
|
Designation : |
Director |
|
Address : |
107-A, Vinaya Bhavya Complex, 159-A, CST Road, Kalina, Santacruz
(East), Mumbai – 400 098, Maharashtra, India |
|
Date of Birth/Age : |
03.12.1979 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
01885368 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24110MH1983PLC029560 |
Harman Finochem
Limited |
Director |
30-09-08 |
15-10-07 |
Active |
NO |
|
2 |
U99999MH1974PTC017240 |
Summerset
Gardens Resort Private Limited |
Additional
director |
24-11-10 |
24-11-10 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Bhupinder Singh Manhas |
|
1935690 |
|
Bhupinder Singh Manhas (HUF) |
|
118800 |
|
Harpreet Singh Manhas |
|
390195 |
|
Gurpreet Singh Manhas |
|
699855 |
|
Inderjeet Kaur Manhas |
|
900000 |
|
Shyamsunder Shenoy |
|
30 |
|
Unnikrishnan Parakkat |
|
30 |
|
Wellworth Medicines Private Limited, |
|
690000 |
|
Kirti Mercantile Private Limited, |
|
29000 |
|
Total |
|
4763600 |
As on 30.09.2010
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
84.91 |
|
Other top fifty shareholders |
|
15.09 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Installed
Capacity |
|
Riboflavin Phosphate Sodium |
MT |
24 |
|
Dexamethasone Phosphate Sodium |
KG |
120 |
|
Betamethasone Phosphate Sodium |
KG |
120 |
|
Betamethasone Valerate |
KG |
120 |
|
Metformine Hydrochloride B.P. |
MT |
240 |
|
Riboflavine (Vitamine B2) |
MT |
5 |
|
Phenobarbitone |
MT |
60 |
|
Phenobarbitone Sodium |
MT |
20 |
|
Allopurinol |
MT |
240 |
|
Dimethylamine |
MT |
1000 |
|
Particulars |
Actual
Production |
|
Allopurinol |
290190 |
|
Carisoprodol |
5922.3 |
|
Divalproex Sodium |
2770.7 |
|
Fenofibrate |
1602 |
|
Glimepiride |
1.75 |
|
Glycopyrrolate |
34.965 |
|
Ketamine Hydrochloride |
-- |
|
Lamitrigine |
2 |
|
Metformin Hydrochloride |
2207913.2 |
|
Methadone Hydrochloride |
430 |
|
Methyl Phenobarbital |
583.15 |
|
Methylphenidate hydrochloride |
6.8 |
|
Meprobamate |
12660 |
|
Oxybutinin Hydrochloride |
185.62 |
|
Oxiconazole Nitrate |
110.5 |
|
Phenobarbitone |
40345 |
|
Phenytain sodium usp |
7137.8 |
|
Phenobarbitone Sodium I.P. |
399.17 |
|
Phenytoin Base EP/USP |
1250 |
|
Riboflavine Phosphate Sodium- |
12344 |
|
Sodium Metal |
-- |
|
Valporic Acid |
1 |
|
Waste Solvent |
57060 |
|
Xipamide |
1000 |
GENERAL INFORMATION
|
No. of Employees |
Not Available |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
·
Allahabad Bank Industrial Finance Branch, Mumbai Samachar
Marg, Fort, Mumbai – 400 023, ·
Kotak Mahindra Bank Limited |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K U Kothari and Company Chartered Accountants |
|
Address : |
A-1/205, Laram Centre, |
|
Tel. No.: |
91-22-26204773 / 26704183 |
|
E-Mail : |
|
|
|
|
|
Subsidiaries : |
Well Worth Medicines Private limited CIN No.: U24230MH1989PTC132889 |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4763600 |
Equity Shares |
Rs.10/- each |
Rs.47.636 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
47.636 |
47.636 |
47.636 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
864.338 |
608.370 |
458.709 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
911.974 |
656.006 |
506.345 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
2.442 |
5.385 |
|
|
2] Unsecured Loans |
0.375 |
0.375 |
1.470 |
|
|
TOTAL BORROWING |
0.375 |
2.817 |
6.855 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
912.349 |
658.823 |
513.200 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
579.391 |
310.870 |
277.692 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
18.286 |
18.918 |
75.662 |
|
|
DEFERREX TAX ASSETS |
5.363 |
4.007 |
2.417 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
37.310
|
38.467
|
27.213
|
|
|
Sundry Debtors |
209.811
|
178.611
|
133.946
|
|
|
Cash & Bank Balances |
74.735
|
73.401
|
29.647
|
|
|
Other Current Assets |
43.941
|
143.760
|
10.939
|
|
|
Loans & Advances |
464.675
|
297.675
|
229.434
|
|
Total
Current Assets |
830.472
|
731.914
|
431.179 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
109.959
|
135.122
|
95.781 |
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
411.204
|
271.764
|
177.969 |
|
Total
Current Liabilities |
521.163
|
406.886
|
273.750 |
|
|
Net Current Assets |
309.309
|
325.028
|
157.429 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
912.349 |
658.823 |
513.200 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
1314.344 |
1075.815 |
768.201 |
|
|
|
Other Income |
7.989 |
49.447 |
27.807 |
|
|
|
TOTAL (A) |
1322.333 |
1125.262 |
796.008 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of raw material |
535.804 |
536.386 |
366.457 |
|
|
|
Chemicals, Fuel, Consumable and Stores |
51.802 |
52.616 |
27.685 |
|
|
|
Manufacture expenses |
173.760 |
140.755 |
110.728 |
|
|
|
Administrative Expenses |
40.436 |
47.705 |
36.843 |
|
|
|
Selling expenses |
32.824 |
37.962 |
23.879 |
|
|
|
Directors Remuneration |
19.800 |
19.800 |
16.225 |
|
|
|
Auditors Remuneration |
0.441 |
0.441 |
0.337 |
|
|
|
Increase / (Decrease) in Stock |
5.357 |
(3.363) |
2.491 |
|
|
|
TOTAL (B) |
860.224 |
832.302 |
584.645 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
462.109 |
292.960 |
211.363 |
|
|
|
|
|
|
|
|
|
Less |
FINANCE COST (D) |
7.052 |
5.854 |
4.915 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
455.057 |
287.106 |
206.448 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
53.890 |
45.626 |
36.834 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
401.167 |
241.480 |
169.614 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
136.866 |
83.459 |
56.801 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
264.301 |
158.021 |
112.813 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
7.145 |
7.145 |
9.527 |
|
|
|
Tax on Dividend |
1.187 |
1.214 |
1.619 |
|
|
BALANCE CARRIED
TO THE B/S |
255.969 |
149.662 |
101.667 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
793.090 |
694.169 |
512.641 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Material |
354.038 |
241.076 |
NA |
|
|
|
Capital Goods |
6.513 |
12.722 |
NA |
|
|
|
TOTAL IMPORTS |
360.551 |
253.798 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
55.48 |
33.17 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
19.99
|
14.04
|
14.17
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
30.52
|
22.45
|
22.08
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.45
|
23.16
|
23.93
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44
|
0.37
|
0.33
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.62
|
0.55
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.80
|
1.58
|
LOCAL AGENCY FURTHER INFORMATION
BUSINESS
During the year the company has rendered the effected sales to the tune
of Rs.1314.344 Millions as against the previous year figure of Rs.1075.815
Millions. The company has earned profit before taxation worth Rs.401.167
Millions as against the previous year profit Rs.241.480 Millions.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
||||||||||||||
|
Charge
identification number of the modified |
90239691 |
||||||||||||||
|
Corporate
identity number of the company |
U24110MH1983PLC029560 |
||||||||||||||
|
Name of the
company |
HARMAN FINOCHEM PRIVATE LIMITED |
||||||||||||||
|
Address of the
registered office or of the principal place of business in |
107-A, Vinay Bhavya Complex, |
||||||||||||||
|
Type of charge |
Immovable Property |
||||||||||||||
|
Particular of
charge holder |
Allahabad Bank Industrial Finance Branch, Mumbai Samachar Marg, Fort, Mumbai –
400023, |
||||||||||||||
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Letter of Mortgagor Confirming Deposit of Title Deeds |
||||||||||||||
|
Date of
instrument Creating the charge |
10.08.2007 |
||||||||||||||
|
Amount secured by
the charge |
Rs.90.000
Millions |
||||||||||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC and PC – PLR
plus 3 % p.a. shall be charged FBN/FB, ILC/FLC and
Bank Guarantee – As per the Bank’s circularized Instructions Terms of
Repayment Repayment on
Demand Margin CASH CREDIT – 25
% on Stocks (Fully paid for) and 30 % Book Debts and older than 90 days FBN/FBP – Nil ILC/FLC – 10 % Bank Guarantee –
10 % Extent and
Operation of the charge Exclusive first
charge by way of Equitable Mortgage on immovable properties Others Limits enhanced
from Rs.50.000 Millions to Rs.90.000 Millions |
||||||||||||||
|
Short particulars
of the property charged |
Equitable Mortgage
on Company’s immovable properties bearing Plot No. E-9 situated at
Chikalthana Industrial Area, Village Mhanadpur, Taluka and Sub District and
District Aurangabad admeasuring 8306 sq. mtrs. |
||||||||||||||
|
Date of latest
modification prior to the present modification |
04.03.2005 |
||||||||||||||
|
Particulars of
the present modification |
By present
Modification Equitable Mortgage on Company’s Immovable properties situated at
Chikalthana Industrial Area, Village Mhanadpur, District Aurangabad has now increased
from Rs. 50.000 Millions to Rs. 90.000 Millions, to secure credit facilities
detailed as under
|
CONTINGENT
LIABILITIES (As on 31.03.2010)
The Contingent Liability is Rs.26.200 Millions.
FIXED ASSETS
·
Land
·
·
Flat and Staff Quarters
·
Office Equipment
·
Plant and Machinery
·
Electrical Fitting
·
Furniture and Fitting
·
Motor Car, Bus and Cycle
·
Computers
·
Office Premises
WEB DETAILS
PROFILE
Subject is a professionally managed independent company engaged in
manufacturing of Active Pharmaceutical ingredients (API's) and chemical
intermediates.
The company was
established way back in 1983 by Bhupinder
Singh Manhas, the CMD of the company.
·
Manufacture and Exporter of Active Pharmaceutical
ingredients.
·
Two manufacturing sites at
·
Supply of API’s as a Major Thrust Area to pharma
and generic companies.
·
Certificate of recognition as “EXPORT HOUSE” by
Government of India.
·
State-of-the art manufacturing facilities inspected
and complying with cGMP norms as per USFDA,
ICH Q7A, TGA, PIC, WHO-GMP, Schedule M and Japanese Foreign
Accreditation.
·
State-of-the-art Quality Control Laboratories with
GLP compliance.
·
cGMP compliance Pilot plant with clean room
facility.
·
Powder processing area with pneumatic controls and
Particle Size options: Milling and Micronising.
·
CRAMs offered.
·
State-of-the-art R and D center coming up 4th
quarter 2009 in Navi-Mumbai.
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.49.07 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
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 |
|
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.