MIRA INFORM REPORT
|
Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHARAT PARENTERALS LIMITED |
|
|
|
|
Registered
Office : |
144, Village -Haripura, Taluka- Savli, Vadodara – 391520, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.09.1992 |
|
|
|
|
Com. Reg. No.: |
04-018237 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 57.297 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1992PLC018237 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDB00809E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB8636N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceuticals |
|
|
|
|
No. of Employees
: |
204 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 890000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Latest
financial i.e. 2011-12 are missing from the government department. From the financial
of 2011 its seems that there appears some dip in the profitability of the
company. However, networth of the company is satisfactory. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facility = BBB- |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
06.03.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facility = A3 |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
06.03.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Rakesh |
|
Designation : |
Exports, Import Department |
|
Contact No.: |
91-2667-251680 |
|
Date : |
12.12.2012 |
LOCATIONS
|
Registered Office / Factory : |
144, Village -Haripura, Taluka- Savli, Vadodara – 391520, Gujarat,
India |
|
Tel. No.: |
91-2667-251669 / 251679 / 251680 |
|
Fax No.: |
91-2667-251679 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Shree Avenue, 1st Floor, Above Bank of Baroda, VIP Road, Karelibaug,
Vadodara – 390018, Gujarat, India |
|
Tel. No.: |
91-265-2460891 / 2461990 |
DIRECTORS
As on 30.09.2012
|
Name : |
Mr. Dahyabhai Jividas Patel |
|
Designation : |
Director |
|
Address : |
68, Shree Nagar, Kalol, Gandhinagar - 382721, Gujarat, India |
|
Date of Birth/Age : |
05.03.1945 |
|
Date of Appointment : |
30.09.1995 |
|
DIN No.: |
00399191 |
|
|
|
|
Name : |
Mr. Bharat Rameshbhai Desai |
|
Designation : |
Managing Director |
|
Address : |
2 Vitrag Apartment, Near Shripadnagar, VIP Road, Vadodara-390018, Gujarat, India |
|
Date of Birth/Age : |
22.11.1962 |
|
Date of Appointment : |
03.09.1992 |
|
DIN No.: |
00552596 |
|
|
|
|
Name : |
Mr. Himaben Bharatbhai Desai |
|
Designation : |
Director |
|
Address : |
2, Vitrag Apartment, Near Shripad Nagar, VIP Road, Vadodara - 390018, Gujarat, India |
|
Date of Birth/Age : |
29.06.1968 |
|
Date of Appointment : |
01.06.2007 |
|
DIN No.: |
00558482 |
|
|
|
|
Name : |
Mr. Vipul Popatlal Chheda |
|
Designation : |
Director |
|
Address : |
Nikunj Dwar, Ground Floor, Iraniwadi, Shantilal Modi Road, Kandivali (West), Mumbai - 400067, Maharashtra, India |
|
Date of Birth/Age : |
24.09.1967 |
|
Date of Appointment : |
30.09.2001 |
|
DIN No.: |
00297838 |
|
|
|
|
Name : |
Mr. Pankajbhai Shantilal Shah |
|
Designation : |
Director |
|
Address : |
B-127, Pusthi Dwar Society, Near Bapod Jakat Naka, Waghodia Road, Vadodara - 390019, Gujarat, India |
|
Date of Birth/Age : |
26.01.1962 |
|
Date of Appointment : |
08.07.2010 |
|
DIN No.: |
03020629 |
|
|
|
|
Name : |
Mr. Hemang Jayendrabhai Shah |
|
Designation : |
Director |
|
Address : |
27,Paritosh Society, Mahavir Char Rasta To Uma Chaukdi, Behind Prahar Complex, Vadodara - 390019, Gujarat, India |
|
Date of Birth/Age : |
12.11.1968 |
|
Date of Appointment : |
08.07.2010 |
|
DIN No.: |
03024324 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh |
|
Designation : |
Exports, Import Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
76.00 |
|
Other top fifty shareholders |
15.00 |
|
Others |
9.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceuticals |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
Tablets |
|
|
|
- Tablets Tablet |
Numbers |
1.35 Billions |
|
- B- Lactum Tablets Tablet |
Numbers |
180 Millions |
|
Capsules |
|
|
|
- General Capsules Capsule |
Numbers |
100.8 Millions |
|
- B- Lactum Capsules Capsule |
Numbers |
50 Millions |
|
Ointments Tubes |
Avg wt.15gm Tube |
10.8 Millions |
|
Liquid Oral |
|
|
|
- Suspension Avg. Vol 60ml |
Bottles |
16 Millions |
|
- Syrup Avg. 60ML |
Bottles |
20 Millions |
|
- Oral Powder upto 30 gm (General) |
Pouches |
6 Millions |
|
- Oral Powder upto 30 gm (B-Lactum) |
Pouches |
5 Millions |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
204 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Axis Bank Limited, Vardhman Complex, Opposite Geb Office,
Race Course, Vadodara - 390007, Gujarat, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Alkesh J. Shah and Company Chartered Accountants |
|
Address : |
203,Opal Square, Behind Hotel Express, Alkapuri, Vadodara, Gujarat, India |
|
PAN.: |
ABWPS4338J |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5800000 |
Equity Shares |
Rs.10/- each |
Rs.58.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5729666 |
Equity Shares |
Rs.10/- each |
Rs.57.297
Millions |
|
|
|
|
|
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 |
57.297 |
57.297 |
57.297 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
166.280 |
134.656 |
60.957 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
223.577 |
191.953 |
118.254 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
51.819 |
46.225 |
40.091 |
|
|
2] Unsecured Loans |
3.297 |
5.098 |
7.014 |
|
|
TOTAL BORROWING |
55.116 |
51.323 |
47.105 |
|
|
DEFERRED TAX LIABILITIES |
16.026 |
15.080 |
10.064 |
|
|
|
|
|
|
|
|
TOTAL |
294.719 |
258.356 |
175.423 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
170.503 |
165.217 |
118.857 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
67.557
|
57.048 |
41.469 |
|
|
Sundry Debtors |
187.948
|
176.391 |
114.643 |
|
|
Cash & Bank Balances |
1.611
|
36.691 |
10.106 |
|
|
Other Current Assets |
30.580
|
15.444 |
0.000 |
|
|
Loans & Advances |
37.369
|
50.039 |
36.869 |
|
Total
Current Assets |
325.065
|
335.613 |
203.087 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
158.287
|
140.646 |
120.122 |
|
|
Other Current Liabilities |
30.593
|
70.816 |
13.885 |
|
|
Provisions |
12.969
|
31.012 |
12.514 |
|
Total
Current Liabilities |
201.849
|
242.474 |
146.521 |
|
|
Net Current Assets |
123.216
|
93.139 |
56.566 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
294.719 |
258.356 |
175.423 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
697.753 |
711.337 |
419.524 |
|
|
|
Other Income |
11.698 |
3.155 |
5.305 |
|
|
|
TOTAL (A) |
709.451 |
714.492 |
424.829 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
482.127 |
471.190 |
|
|
|
|
Manufacturing service costs |
33.329 |
47.016 |
|
|
|
|
Employee related expenses |
20.522 |
19.215 |
|
|
|
|
Administrative selling other expenses |
75.237 |
69.191 |
|
|
|
|
Research development expenditure |
4.581 |
1.459 |
|
|
|
|
TOTAL (B) |
615.796 |
608.071 |
362.992 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
93.655 |
106.421 |
61.837 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.273 |
7.972 |
8.715 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
83.382 |
98.449 |
53.122 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
48.056 |
8.434 |
6.284 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
35.326 |
90.015 |
46.838 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.702 |
16.316 |
9.156 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
31.624 |
73.699 |
37.682 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
134.656 |
60.957 |
23.275 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
166.280 |
134.656 |
60.957 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
172.256 |
146.110 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
120.367 |
89.961 |
NA |
|
|
|
Lab Equipment (F and D) |
6.672 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
127.039 |
89.961 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.52 |
12.86 |
6.58 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
740.000 |
Expected Sales (2012-13) : Rs.900.000 Millions
The above information has been parted by Mr. Rakesh
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.46 |
10.31 |
8.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.06 |
12.65 |
11.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.13 |
17.97 |
14.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.47 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.15 |
1.53 |
1.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61 |
1.38 |
1.39 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Creditors due others |
158.287
|
140.646 |
120.122 |
|
Total |
158.287
|
140.646 |
120.122 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
TRADE REFERENCES
- Ronak Exim Private Limited
- BSN Corporation
CONTINGENT
LIABILITIES IN RESPECT OF FOLLOWING ITEMS ARE AS BELOW: (AS ON 31.03.2011)
i. The claims against the company the company not acknowledged as debt Rs. Nil.
ii. Bill of exchange discounted with banks Rs. Nil
iii. Counter guarantee given to bank on behalf of others Rs. Nil
iv. Guarantees issued to different govt. agencies Rs.11.714 Millions
v.
Letter of Credit Rs.26.930 Millions (US $
6,03,871)
FIXED ASSETS
- Building
- Factory Building
- Plant Machinery
- Plant Machinery
- 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.54.23 |
|
|
1 |
Rs.87.53 |
|
Euro |
1 |
Rs.70.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH / VRN |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
45 |
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.