MIRA
INFORM REPORT
|
Report Date : |
30.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
MYLAN LABORATORIES LIMITTED |
|
|
|
|
Formerly Known
As : |
MATRIX LABORATORIES LIMITTED w.e.f
21.03.2001 |
|
|
|
|
Registered
Office : |
Plot No.564/A/22 Road No.92, Jubilee Hills |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.11.1984 |
|
|
|
|
Com. Reg. No.: |
01-005146 |
|
|
|
|
Capital Investment/
Paid-up Capital: |
Rs.312.680 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231AP1984PLC005146 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDM02247A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM3491M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Active Pharmaceutical Ingredients (API) |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A(58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 65330000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. The company
is doing well. 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 good for normal 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
Plot No.564/A/22 Road No.92, Jubilee Hills |
|
Tel. No.: |
91-40-277003636/30496666/ |
|
Fax No.: |
91-40-27700343 |
|
E-Mail : |
nagaraj.bodige@matrixlabsindia.com |
|
Factory 1: |
Survey No. 10, |
|
|
|
|
Factory 2: |
Plot Nos 38, 39, 40, 49, 50 &
51 Phase - IV, IDA Jeedimetla Hyderabad - 500 055 |
|
|
|
|
Factory 3: |
Plot No.36, Phase IV IDA Jeedimetla Quthbullapur
Mandal R.R.Dist, |
|
|
|
|
Factory 4: |
Plot No. 16/B/1 S.V. Co-operative Indistrial Estate,
Jeedimetla Quthbullapur Mandal R.R. Dist - 500 055 |
|
|
|
|
Factory 5: |
Survey No: 10/A, Model Industrial Estate
Gaddapotharam, Jinnaram Mandal Medak District - 502 319 |
|
|
|
|
Factory 6: |
Plot Nos. 14, 99 and 100, Chemical Zone, Pashamylaram,
Patancheru Mandal Medak District - 502 319 |
|
|
|
|
Factory 7: |
G. Chodavaram Village Poosapatirega mandal
Vizianagaram District - 535 204 |
|
|
|
|
Factory 8: |
Plot No. 5 Road No. 12, Visakhapatnam District Andhra Pradesh - 531 021 |
|
|
|
|
Factory 9: |
Plot No. 1A/2, MIDC, Taloja Dist. Raigad, |
|
|
|
|
Formulations Plant: |
Plot No: F-4 & F-12, MIDC |
|
R and D Centers 1: |
Plot No. 34/A, Anrich Industrial Estate Bollarum,
Medak District |
|
|
|
|
R and D Centers 2: |
Plot Nos.38,39,40,49,50&51 Phase IV, IDA
Jeedimetla Hyderabad, Andhra Pradesh |
|
|
|
|
R and D Centers 3: |
Survey No. 10 & 42, Gaddapotharam, Kazipally
Industrial Area, Jinnaram Mandal, Medak District, Andhra Pradesh. |
|
|
|
|
R and D Centers 4: |
Clinical Research Centre, Saradhi Chambers A-4,
Rukminipuri, Beside Poulomi Hospital Dr. A.S. Rao Nagar, Hyderabad - 500 062
Andhra Pradesh. |
DIRECTORS
As on 24.09.2010
|
Name : |
Mr. Rajiv Malik |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B- 6B, Gangotri Alaaknanda, |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.03.1961 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
28.07.2005 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
00120557 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Dr. B Hari Babu |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Chief Operating Officer Whole Time Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
11, Sai Ansh Arcade, Duragavihar Nagar Coly, Trimulghery, Secunderabad
– 500015, |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.07.1964 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.01.2009 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
01119687 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sanjeev Sethi |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Plot No. 24, Quitelands, Gatchibowli, Hayderabad – 500008, |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.07.1967 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.10.2009 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
012168682 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. B Nagaraj Goud |
|
Designation : |
Secretary |
|
Address : |
H.No. 5-14-88, Indiranagar Colony II APHB Colony, Movalai, |
|
Date of Birth/Age : |
02.12.1977 |
|
Date of Appointment : |
07.10.2009 |
|
Pan No.: |
AGYPB3840P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mp Laboratories Limited, ( |
|
151382543 |
|
Mp Laboratories Limited, ( |
|
78712 |
|
The Oriental Insurance Company Limited, |
|
43514 |
|
Joy Ittoop Panikulam, |
|
35443 |
|
Matrix Esop Trust |
|
20920 |
|
Van Den Bogaert Philip, |
|
20000 |
|
Bernard Sagaert M F M, |
|
20000 |
|
|
|
20000 |
|
Matrix Esop |
|
19347 |
|
Mspl Limited, Hospet |
|
17699 |
|
Nirmal |
|
16000 |
|
The Industrial Credit And Investment Corporation
Of India Limited, |
|
15435 |
|
Chalakkal Krishnan Kutty, UAE |
|
15000 |
As on 24.09.2010
EQUITY SHARES BREAK – UP
|
Category |
|
Percentage |
|
Nationalized other Bank |
|
0.01 |
|
Mutual Funds |
|
0.03 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.40 |
|
Bodies corporate |
|
1.61 |
|
Other top fifty shareholders |
|
0.20 |
|
Others |
|
97.75 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Active Pharmaceutical Ingredients (API) |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
The Hongkong and |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Foot Notes: A)Short term loan from Bank - 2072.05 Loan from Holding Company -
2373.450 B)Short term loan from Bank - 250 Loan from Holding Company - 1336.620 |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Hasking and Sells Chartered Accounts |
|
Address : |
Gowra Grand, III Floor, 1-8-1-384- and 385, |
|
Pan No. : |
AACFD3771D |
|
|
|
|
Holding Company: |
MP Laboratories Ltimited,( |
|
|
|
|
Ultimate Holding Company: |
Mylan Inc. |
|
|
|
|
Associates/Subsidiaries : |
· Astrix Laboratories Limited ·
Matrix Laboratories ( ·
Matrix ·
Subsidiaries of Matrix · Matrix Laboratories Inc ·
Matrix Laboratories ( · Matrix Laboratories BVBA ·
Subsidiaries of Matrix Laboratories ( ·
Matrix Pharma Group ( · Matrix Laboratories Inc ·
Subsidiaries of Matrix Pharma Group ( · Jiangsu Matrix Pharmaceutical Chemical Company Limited · Mchem Research and Development Company Limited · Shanghai Fine Source Company Limited. ·
Matrix Laboratories( ·
Subsidiaries of Matrix Laboratories ( · Xiamen Beacon Pharmaceutical Manufacturing Company, Limited ·
Subsidiaries of Matrix Laboratories BVBA - ·
·
Subsidiaries of ·
·
·
Docpharma · Servipharma SA ·
·
· DAA Pharma SA · Farma 1 SARL · DCI Pharma SA · Hospithera SA ·
|
|
Fellow
Subsidiaries: |
· Mylan Pharmaceuticals Inc. · Mylan Pharmaceuticals ULC · 3 Mylan Seiyaku Ltd. · Gerard Laboratories Limited · Alphapharm Pty. Limited. · Mylan India Private Limited ·
Mylan ( · Mylan Technologies Inc. · Mylan SAS · Mylan Newzealand Limited · Docpharma BVBA · Mylan GMBH ·
Mylan Pharmaceuticals S.L. ·
· Xixia Pharma Private Limited |
CAPITAL STRUCTURE
As .on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.2/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
156340000 |
Equity Shares |
Rs.2/- each |
Rs.312.680Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
312.680 |
312.680 |
309.227 |
|
|
2] Share Application Money |
0.000 |
0.000 |
82.729 |
|
|
3] Reserves & Surplus |
16020.810 |
11209.180 |
8384.030 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16333.490 |
11521.860 |
8775.986 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3883.690 |
4502.920 |
4488.466 |
|
|
2] Unsecured Loans |
4472.690 |
1616.130 |
1989.623 |
|
|
TOTAL BORROWING |
8356.380 |
6119.050 |
6478.089 |
|
|
DEFERRED TAX LIABILITIES |
1154.600 |
947.100 |
757.046 |
|
|
|
|
|
|
|
|
TOTAL |
25844.470 |
18588.010 |
16011.121 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11534.430 |
8583.060 |
6131.951 |
|
|
Capital work-in-progress |
1187.650 |
1334.140 |
1475.072 |
|
|
|
|
|
|
|
|
INVESTMENT |
2617.950 |
1766.570 |
2318.980 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9827.240
|
6335.130 |
3763.870 |
|
|
Sundry Debtors |
5772.680
|
4843.890 |
4914.107 |
|
|
Cash & Bank Balances |
146.120
|
86.010 |
19.998 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2465.910
|
1657.380 |
1052.080 |
|
Total
Current Assets |
18211.950
|
12922.410 |
9750.055 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
5288.710
|
3710.560 |
|
|
|
Other Current Liabilities |
2261.330
|
2107.690 |
3332.041 |
|
|
Provisions |
157.470
|
199.920 |
332.896 |
|
Total
Current Liabilities |
7707.510
|
6018.170 |
3664.937 |
|
|
Net Current Assets |
10504.440
|
6904.240 |
6085.118 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25844.470 |
18588.010 |
16011.121 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
28444.150 |
18680.260 |
14886.750 |
|
|
|
Other Income |
1352.500 |
830.010 |
353.097 |
|
|
|
TOTAL (A) |
29796.650 |
19510.270 |
15239.847 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption material Changes in Inventories |
14194.860 |
9162.290 |
|
|
|
|
Manufacturing service Expenses |
2156.480 |
1451.240 |
|
|
|
|
Employee related expenses |
1928.320 |
1344.250 |
|
|
|
|
Administrative selling other Expenses |
1774.670 |
1256.030 |
|
|
|
|
Research development expenditure |
2533.600 |
2329.440 |
|
|
|
|
TOTAL (B) |
22587.930 |
15543.250 |
11144.297 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7208.720 |
3967.020 |
4095.550 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
432.660 |
509.810 |
509.807 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6776.060 |
3457.210 |
3385.743 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
601.880 |
464.440 |
335.819 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6174.180 |
2992.770 |
3249.924 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1516.980 |
854.430 |
680.210 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4657.200 |
2138.340 |
2569.714 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5002.550 |
2864.210 |
294.496 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9659.750 |
5002.550 |
2864.210 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.79 |
13.71 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
15.63
|
10.97 |
16.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.71
|
16.02 |
21.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.76
|
13.92 |
20.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.26 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.98
|
1.05 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.36
|
2.15 |
2.66 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
L24231AP1984PLC005146 |
|
Name of the
company |
MATRIX LABORATORIES LIMITTED |
|
Address of the registered
office or of the principal place of
business in |
Plot No.564/A/22 Road No.92, Jubilee Hills |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10198643 |
|
Type of charge |
·
Any Interest in Immovable property ·
Book debts ·
Movable property ( not being pledge) ·
Others |
|
Particular of
charge holder |
The Hongkong and |
|
Nature of
description of the instrument creating or modifying the charge |
First
supplemental Deed of Hypothecation dated 28th September for first pari
passu chargee over all the current assets of the company and second pari pass
charge over all he fixed assets of the company |
|
Date of
instrument Creating the charge |
2909.2011 |
|
Amount secured by
the charge |
Rs.1800.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest
shall be payable by the company on the facilities as per banks tariff,
Subject however that the bank shall have the right to change the rate of
interest after giving notice of the company. Terms of repayment: In
consideration of banking
facilities sanctioned/to be sanctioned by the banks to the company, the
company has charged to the banks all current assets and fixed assets the
company to secure the repayments of the advances by way of credit facilities
together with interest cost and all other charges. Margin: The
company shall maintain such margin as may be specified by the bank from time
to time Extent and other operation of the
charge: In case
the company fails to fulfill obligation under the agreement, the bank shall
be entitled to take possession of the charged assets of the com[any and sell
them by public auction or private contract and utilize the proceeds in full
or part settlement of its claims Others: Not
Applicable |
|
Short particulars
of the property charged (Including location of the property) |
First
pari passu charge on entire current assets and second paari passu charge o
fixed assets more fully described in
the attached Deed of Hypothecation. |
|
Particulars of
the present modification |
Enhancement
of credit facilities from INR Rs.400.0000 Millions to INR Rs.1800.000
Millions |
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.52.68 |
|
|
1 |
Rs.69.38 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
58 |
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.