MIRA
INFORM REPORT
|
Report Date : |
02.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
SREEPATHI PHARMACEUTICALS LIMITED |
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Registered Office : |
Plot No. 22B, H.No.8-2-293/ 82/ A/ 22/ B, Road No.2, Jubilee Hills, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
29.12.1983 |
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Com. Reg. No.: |
01-4356 |
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Capital Investment / Paid-up Capital : |
Rs.71.128 Millions |
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CIN No.: [Company
Identification No.] |
U24239AP1983PLC004356 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDS01929E HYDS03528A |
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PAN No.: [Permanent
Account No.] |
AAOCS4051R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer, Export and Importer of Drugs and Drug Intermediates. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2490860 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealing 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) |
|
India |
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Sree Hari |
|
Designation : |
Sales Manager |
LOCATIONS
|
Registered Office : |
Plot No. 22B, H.No.8-2-293/ 82/ A/ 22/ B, Road No.2, Jubilee Hills, |
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Tel. No.: |
91-40-23423250/ 51/ 2354 |
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Fax No.: |
91-40-23553139 |
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E-Mail : |
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Website : |
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Corporate Office : |
617, Swapnalok Complex, |
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Tel. No.: |
91-40-27813151 |
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Fax No.: |
91-40-27818458 |
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E-Mail : |
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Websites: |
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Location : |
Owned |
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Factory 1 : |
Plot No.163, Phase – V, IDA, Jeedimetla, |
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Tel No.: |
91-40-28812987/ 23812056 |
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Status : |
Owned |
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Factory 2 : |
D108, In Sy.no.2/1,Phase
I,IDA, Jeedimetla, |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Srinivas Isola |
|
Designation : |
Managing Director |
|
Address : |
Plot No.5, Road No.76, Jubilee Hills, |
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Date of Birth/Age : |
04.08.1954 |
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Date of Appointment : |
09.03.2006 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U27203AP1995PTC021575 |
WHITE STAR ALUMS PRIVATE
LIMITED |
Director |
31/08/1995 |
31/08/1995 |
- |
Amalgamated |
NO |
|
2 |
U24239AP2005PLC047307 |
VIJAYASRI ORGANICS LIMITED |
Director |
31/08/2005 |
31/08/2005 |
- |
Active |
NO |
|
3 |
U24239AP1983PLC004356 |
SREEPATHI PHARMACEUTICALS
LIMITED |
Managing director |
09/03/2006 |
09/03/2006 |
- |
Active |
NO |
|
4 |
U37200AP2010PTC069940 |
SREEMRR ECO GREEN
INDUSTRIES PRIVATE LIMITED |
Director |
11/08/2010 |
11/08/2010 |
- |
Active |
NO |
|
5 |
U24100AP2011PTC072751 |
WHITESTAR DRUGS &
CHEMICALS PRIVATE LIMITED |
Director |
21/02/2011 |
21/02/2011 |
- |
Active |
NO |
|
6 |
U24232AP2011PTC073991 |
SREEPATHI LIFECARE PRIVATE
LIMITED |
Director |
20/04/2011 |
20/04/2011 |
- |
Active |
NO |
|
Name : |
Mr. Satyam Isola |
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Designation : |
Director |
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Address : |
Plot No.5, Road No.76, Jubilee Hills, |
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Date of Birth/Age : |
31.10.1922 |
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Date of Appointment : |
08.04.2006 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U24239AP1983PLC004356 |
SREEPATHI PHARMACEUTICALS
LIMITED |
Whole-time director |
01/04/2009 |
08/04/2006 |
- |
Active |
NO |
|
2 |
U27203AP1995PTC021575 |
WHITE STAR ALUMS PRIVATE
LIMITED |
Director |
01/10/2008 |
01/10/2008 |
- |
Amalgamated |
NO |
|
3 |
U24100AP2011PTC072751 |
WHITESTAR DRUGS &
CHEMICALS PRIVATE LIMITED |
Director |
21/02/2011 |
21/02/2011 |
- |
Active |
NO |
|
4 |
U24232AP2011PTC073991 |
SREEPATHI LIFECARE PRIVATE
LIMITED |
Director |
20/04/2011 |
20/04/2011 |
27/04/2011 |
Active |
NO |
|
5 |
U24233AP2008PTC061809 |
AZICO PHARMACEUTICALS
PRIVATE LIMITED |
Additional director |
28/04/2011 |
28/04/2011 |
- |
Active |
Yes |
|
Name : |
Mr. Satya Akhil Isola |
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Designation : |
Director |
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Address : |
Plot No.5, Road No.76, Jubilee Hills, |
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Date of Birth/Age : |
20.08.1988 |
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Date of Appointment : |
27.08.2009 |
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S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U24239AP1983PLC004356 |
SREEPATHI PHARMACEUTICALS
LIMITED |
Director |
27/08/2009 |
27/08/2009 |
- |
Active |
NO |
|
Name : |
Mrs. Syamala Isola |
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Designation : |
Director |
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Address : |
Plot No.5, Road No.76, Jubilee Hills, |
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Date of Birth/Age : |
05.05.1967 |
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Date of Appointment : |
08.04.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
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Names of Shareholders |
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No. of Shares |
|
Srinivas Isola |
|
69791 |
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Shyamala Isola |
|
159605 |
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Satya Akhil Isola |
|
70088 |
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Karthik Chandra Isola |
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70149 |
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Mrs. Aruna |
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1 |
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Mrs. K. Kamala |
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1 |
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Mrs. G Sujatha |
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1 |
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Mrs. G Shilpa |
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1 |
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Mrs. Raniisola |
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1 |
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Vssramakrishnarao |
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1 |
AS ON 29.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Export and Importer of Drugs and Drug Intermediates. |
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Products : |
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Exports : |
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Products : |
Drugs and Drug Intermediates |
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Countries : |
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Imports : |
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Products : |
Chemicals |
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Countries : |
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Terms : |
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Purchasing : |
L/C |
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Ciprofloxacin |
MT |
429.851 |
|
Q Salts |
MT |
1.899 |
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Enrofloxacin |
MT |
26.560 |
GENERAL INFORMATION
|
Customers : |
End Users · Aurobindo Pharma Limited · Alkem Laboratories Limited · Biochem
Pharmaceuticals · Cipla Limited · Cadila Healthcare Limited · Dr. Reddy's Laboratories Limited · Fdc Limited. · Ind-Swift Limited · J.B.Chemicals and Pharmaceuticals Limited · Makers Laboratories Limited · Nicholas
Piramal · Wockhardt Limited |
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No. of Employees : |
About 250 |
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Bankers : |
Canara Bank, M. G. Road, Secunderabad – 500 003, Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V. S. Ganesh and Associates Chartered Accountants |
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Address : |
8-3-222/ 1/A/1, Flat No.101, Shriven Towers, Yousufguda Main Road, Madhuranagar, Hyderabad – 500038, Andhra Pradesh, India |
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Holding Company : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
420000 |
Equity shares |
Rs.100/- each |
Rs.42.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
369639 |
Equity shares |
Rs.100/-
each |
Rs.36.964
millions |
|
|
Share Application Money |
|
Rs.34.163
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
71.128 |
36.964 |
36.964 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
193.483 |
102.335 |
44.900 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
264.611 |
139.299 |
81.864 |
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LOAN FUNDS |
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1] Secured Loans |
126.273 |
74.955 |
59.444 |
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2] Unsecured Loans |
0.000 |
7.565 |
0.000 |
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TOTAL BORROWING |
126.273 |
82.520 |
59.444 |
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DEFERRED TAX LIABILITIES |
14.518 |
10.839 |
5.920 |
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DEFERRED SALES TAX |
18.849 |
12.987 |
12.987 |
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TOTAL |
424.251 |
245.645 |
160.215 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
255.039 |
161.743 |
71.991 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.323 |
0.123 |
0.123 |
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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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Inventories |
71.549
|
80.580
|
41.072
|
|
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Sundry Debtors |
154.887
|
98.207
|
111.059
|
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Cash & Bank Balances |
116.798
|
16.988
|
5.552
|
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Other Current Assets |
0.000
|
0.000
|
0.000
|
|
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Loans & Advances |
72.419
|
54.211
|
24.083
|
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Total
Current Assets |
415.653
|
249.986
|
181.766
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
158.189
|
122.262
|
78.759
|
|
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Other Current Liabilities |
32.146
|
16.159
|
14.906
|
|
|
Provisions |
56.429
|
27.786
|
0.000
|
|
Total
Current Liabilities |
246.764
|
166.207
|
93.665
|
|
|
Net Current Assets |
168.889
|
83.779
|
88.101
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
424.251 |
245.645 |
160.215 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
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Income |
815.506 |
606.480 |
460.974 |
|
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Other Income |
9.045 |
16.235 |
6.639 |
|
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TOTAL (A) |
824.551 |
622.715 |
467.613 |
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
565.966 |
422.885 |
326.844 |
|
|
|
Manufacturing Expenses |
65.285 |
70.282 |
58.145 |
|
|
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Personnel Expenses |
34.562 |
23.808 |
11.410 |
|
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|
Administrative, Selling and Other Expenses |
30.461 |
27.721 |
18.813 |
|
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|
Increase/(Decrease) in Finished Goods |
15.179 |
(21.306) |
12.504 |
|
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TOTAL (B) |
711.453 |
523.390 |
427.716 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
113.098 |
99.325 |
39.897 |
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Less |
FINANCIAL
EXPENSES (D) |
8.451 |
4.660 |
6.579 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
104.647 |
94.665 |
33.318 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.445 |
4.922 |
3.239 |
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PROFIT BEFORE
TAX (E-F) (G) |
95.202 |
89.743 |
30.079 |
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Less |
TAX (H) |
32.088 |
32.308 |
10.785 |
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PROFIT AFTER TAX
(G-H) (I) |
63.114 |
57.435 |
19.294 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
133.960 |
44.187 |
25.040 |
|
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BALANCE CARRIED
TO THE B/S |
197.074 |
101.623 |
44.188 |
|
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EARNINGS IN
FOREIGN CURRENCY |
NA |
41.081 |
50.830 |
|
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IMPORTS |
NA |
203.406 |
129.033 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.65
|
9.22
|
4.13
|
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Net Profit Margin (PBT/Sales) |
(%) |
11.67
|
14.79
|
6.53
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.19
|
21.79
|
11.85
|
|
|
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|
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.64
|
0.37
|
|
|
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|
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Debt Equity Ratio (Total Liability/Networth) |
|
1.41
|
2.19
|
1.87
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68
|
1.50
|
1.94
|
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered Office of the company has been shifted from 617,
Swapnalok Complex, 92, 93S D Road, Secunderabad – 500003, Andhra Pradesh, India
to Plot No. 74 / A, 2nd Floor, Central Bank Building, Kalyan Nagar, Hyderabad – 500 038, Andhra
Pradesh, India w.e.f. 15.11.2006
The Registered Office of the company has been shifted from Plot No. 74 /
A, 2nd Floor, Central Bank Building, Kalyan Nagar, Hyderabad – 500 038, Andhra
Pradesh to the present Address w.e.f. 04.08.2008.
Form :8
Bankers Charges Report as per Registry
|
Name of the company |
SREEPATHI PHARMACEUTICALS LIMITED |
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Presented By |
Mr. Anup Agrawal |
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1) Date and description of instrument creating the change |
17.04.1993
foreign letter of credit agreement 17.04.1993 open
cash credit agreement 17.04.1993
agreement of secured agreement 17.0.41993 Bank
guarantee deed of security |
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2) Amount secured by the charge/amount owing on the securities of charge |
Charge on plant
and machinery Other fixed
assets for overall limit of Rs.5.800 millions (Rs.1.000 million. Rs.2.800
Millions, Rs.1.500 Millions, Rs.0.500 million respectively) |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
goods and book debts, hypothecation of stocks of chemicals and
pharmaceuticals in form of raw materials, stock in process, finished goods ,
packing materials and other spares present and future situated at Plot No. 163,
Phase V, IDA Jeedimetla, Hyderabad. Continuation of
II charge on Fixed Assets of the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
On letter of credit cash margin 10% on opening and 15% on acceptance
of documents exchange rate as per FEDAI rules. Interest 18.25% p.a , Cum tax
on cash credit and 16% p.a , cum tax on packing credit margin money 10% ,
Interest 18.25% p.a for supply bills and 17.25% p.a. for B E’s |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, |
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6) Date and brief description of instrument modifying the charge |
Hypothecation
agreement of Goods and Book Debts dated 19.11.2003 Delivery letter
to DPN dated 19.11.2003 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The overall
working capital facility enhanced vide this modification dated 19.11.2003
Overall limit
enhanced from Rs.79.000 millions to Rs.89.000 millions. |
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Corporate
identity number of the company |
U24239AP1983PLC004356 |
|
Name of the
company |
SREEPATHI PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 22B, H.No.8-2-293/ 82/ A/ 22/ B, Road No.2, Jubilee Hills, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90127540 |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
Canara Bank, E-Mail: cmhyd0616@canbank.co.in |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental
Common Hypothecation Agreement dated 30.04.2010 |
|
Date of instrument
Creating the charge |
30.04.2010 |
|
Amount secured by
the charge |
Rs.217.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 11.25% Per annum
on cash credit 9.50% Per annum
on bills upto 180 days Margin 25% On Cash Credit 25% On ILC and
10% On FLC 10% On Bill
Discounted 15% On Bank
Guarantee Extent and
Operation of the charge Charge for
working capital and collateral for term loan Hypothecation of stocks and
Books Debts. Charge for term loan and collateral for working capital:
Hypothecation Plant and Machinery and other Fixed Assets of the company
(Excluding Vehicles) including EMT of lease hold land 90yrs (6837.63Syds) and
buildings thereon belonging to company. Containing EMT of
factory land (1614.6 Syds) and buildings thereon at D108,in Sy.no.2/1,Phase
I, IDA, Jeedimetla, |
|
Short particulars
of the property charged |
|
|
Date of latest modification
prior to the present modification |
21.11.2008 |
|
Particulars of
the present modification |
Cash credit
increased from Rs.50.000 millions to Rs.80.000 millions Letter of credit
increased from Rs.80.000 Millions to 120.000 Millions Bang guarantee
increased to Rs.2.000 Millions |
|
Corporate
identity number of the company |
U24239AP1983PLC004356 |
|
Name of the
company |
SREEPATHI
PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot.No.22b,H.No.8-2-293/82/A/22/B,
Road.No.2, Jubilee Hills, |
|
This form is for |
Modification Of
Charge |
|
Type of charge |
Immovable
Property Book Debts Movable Property (Not
Being Pledge) |
|
Particular of
charge holder |
Canara Bank,
M.G.Road, Branch, Parklane, Secunderabad – 500003, |
|
Nature of
instrument creating charge |
Supplemental
Common Hypothecation Agreement Dated.11.08.2010 |
|
Date of
instrument Creating the charge |
11/08/2010 |
|
Amount secured by
the charge |
Rs. 247.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate Of Interest : 13.75% Per Annum Terms Of Repayment : Refer
Supplemental Common Hypothecation
Agreement Dated:11.08.2010 Margin : 58.71% On Term
Loan Extent And Operation Of The Charge : Charge For
Working Capital And Collateral For Term Loan Hypothecation Of Stocks &
Books Debts. Charge For Term Loan And Collateral For Working Capital :
Hypothecation Plant & Machinery And Other Fixed Assets Of The Company (Excluding
Vehicles)Including Emt Of Containing Emt Of Other : Nil |
|
Short particulars
of the property charged (Including location of the property) |
|
|
Date of
instrument modifying the charge |
30/04/2010 |
|
Particulars of
the present modification |
New Term Loan
Increased By 30.000 millions |
TRADE REFERENCES :
- FDC Limited
- Cipla Limited
- DR Reddy
FIXED ASSETS:
·
· Plant and Machinery
· Furniture and Fixtures
· Vehicle
· Computer
· Lab Equipment
· Office Equipment
· Storage Tank
· Generators
· Electrical
· Pipe Lines
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. 53.26 |
|
|
1 |
Rs. 82.09 |
|
Euro |
1 |
Rs.68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.