1. Summary Information
|
|
|
Country |
|
|
Company Name |
GRINDLAYS PHARMACEUTICALS PRIVATE LIMITED |
Principal Name 1 |
Mr. Ramkrishna Harishet Kolwankar |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Dhanashri Ramkrishna Kolwankar |
|
|
|
Registration # |
11-037368 |
|
Street Address |
Office No. 406, 407 and 408, 4th Floor, Swastik Chambers, |
||
|
Established Date |
04.09.1985 |
SIC Code |
-- |
|
Telephone# |
91-22-5278801/ 02/ 03 |
Business Style 1 |
Manufacture |
|
Fax # |
91-22-5974547 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Bulk Drugs |
|
|
# of employees |
Not Available |
Product Name 2 |
Intermediates |
|
Paid up capital |
Rs.5,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors Relatives –
100% |
Banking |
Bank of |
|
Public Limited Corp. |
No |
Business Period |
27 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (44) |
|
Related Company |
|||
|
Relation |
Country |
Company Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
31,263,000 |
Current Liabilities |
14,288,000 |
|
Inventories |
7,764,000 |
Long-term Liabilities |
22,591,000 |
|
Fixed Assets |
18,757,000 |
Other Liabilities |
1,890,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
38,769,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
14,015,000 |
|
|
|
Net Worth |
19,015,000 |
|
Total Assets |
57,784,000 |
Total Liab. & Equity |
57,784,000 |
|
Total
Assets (Previous Year) |
49,922,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
127,098,000 |
Net Profit |
3,894,000 |
|
Sales(Previous yr) |
118,283,000 |
Net Profit(Prev.yr) |
3,420,000 |
MIRA
INFORM REPORT
|
Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
GRINDLAYS PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Office No. 406, 407 and 408, 4th Floor, Swastik Chambers, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
04.09.1985 |
|
|
|
|
Com. Reg. No.: |
11-037368 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1985PTC037368 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05658C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturers of Bulk Drugs and Intermediates. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 76000 |
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|
|
|
Status : |
Satisfactory |
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|
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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 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 : |
Office No. 406, 407 and 408, 4th Floor, Swastik Chambers, |
|
Tel. No.: |
91-22-25278801/ 02/ 03 |
|
Fax No.: |
91-22-25974547 |
|
E-Mail : |
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Website : |
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|
|
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Factory : |
Plot No: 87,
Panvel Industrial Co-Operative Estate Limited, Panvel, District Raigad, Navi
Mumbai-410206. |
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Tel. No.: |
91-22-56244677 |
|
Fax No.: |
91-22-56244689 |
|
Area : |
Owned |
|
Location : |
35 SQ, Mtrs |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ramkrishna Harishet Kolwankar |
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|
Designation : |
Managing director |
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Address : |
Bunglow No. 6, |
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Date of Birth/Age : |
30.08.1944 |
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Date of Appointment : |
18.10.1985 |
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DIN No.: |
00293905 |
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Other Directorship:
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Name : |
Mr. Dhanashri Ramkrishna Kolwankar |
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Designation : |
Director |
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Address : |
Bunglow No. 6, |
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Date of Birth/Age : |
12.11.1974 |
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Date of Appointment : |
31.05.1995 |
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DIN No.: |
00294157 |
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Other Directorship:
|
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|||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Santosh Ramkrishna Kolwankar |
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Designation : |
Additional director |
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Address : |
Bunglow No. 6, |
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Date of Birth/Age : |
16.11.2009 |
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|
Date of Appointment : |
16.11.2009 |
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DIN No.: |
00293852 |
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Other Directorship:
|
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|
|||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Arti Ramkrishna Kolwankar |
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Designation : |
Director |
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Address : |
Bunglow No. 6, |
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Date of Birth/Age : |
23.04.1951 |
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Date of Appointment : |
01.04.1997 |
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DIN No.: |
00300218 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ramkrishna Harishsheth Kolwankar |
|
242500 |
|
Arti Ramkrishna Kolwankar |
|
213200 |
|
Dhanashri Ramkrishna Kolwankar |
|
160000 |
|
Santosh Ramkrishna Kolwankar |
|
10000 |
|
TOTAL |
|
625700 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Bulk Drugs and Intermediates. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Karia and Shah Chartered Accountant |
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Address : |
Flat No.9, 3rd Floor, Rajgir Sadan, Opposite Sion Railway Station,
Sion (West), Mumbai – 400022, |
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Tel. No.: |
91-22-24044828/ 24072650 |
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E-Mail : |
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PAN.: |
AAACG1836D |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
625700 |
Equity Shares |
Rs.10/- each |
Rs.6.257 Millions |
|
|
|
|
|
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 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 |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.015 |
10.433 |
7.012 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
19.015 |
15.433 |
12.012 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
22.591 |
23.934 |
24.567 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.300 |
|
|
TOTAL BORROWING |
22.591 |
23.934 |
24.867 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
41.606 |
39.367 |
36.879 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
18.757 |
15.729 |
13.617 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
1.062 |
0.000 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.764
|
4.534 |
4.949 |
|
|
Sundry Debtors |
14.910
|
20.934 |
16.177 |
|
|
Cash & Bank Balances |
0.095
|
0.532 |
0.809 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
16.258
|
7.131 |
10.069 |
|
Total
Current Assets |
39.027
|
33.131 |
32.004 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.288
|
8.029 |
7.843 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
1.890
|
2.526 |
0.899 |
|
Total
Current Liabilities |
16.178
|
10.555 |
8.742 |
|
|
Net Current Assets |
22.849
|
22.576 |
23.262 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
41.606 |
39.367 |
36.879 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
127.098 |
118.283 |
111.807 |
|
|
|
Other Income |
7.944 |
1.318 |
NA |
|
|
|
TOTAL |
135.042 |
119.601 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
120.421 |
112.733 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.621 |
6.868 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.973 |
1.763 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.648 |
5.105 |
1.947 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.754 |
1.685 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.894 |
3.420 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.17 |
6.84 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.88
|
2.86 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.44
|
4.32 |
1.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.77
|
10.45 |
4.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.33 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.89
|
2.23 |
2.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.41
|
2.13 |
3.66 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL REPORT
During the year the total sales achieved Rs.127.098 millions the profit for
the year after tax at Rs.3.891 millions. Directors are looking ahead for the
better prospects.
FORM 8
|
Corporate
identity number of the company |
U99999MH1985PTC037368 |
|
Name of the
company |
GRINDLAYS
PHARMACEUTICALS PVT LTD |
|
Address of the registered
office or of the principal place of
business in |
Office No. 406, 407 and 408, 4th Floor, Swastik Chambers, Email: grinpharma@vsnl.net |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10129800 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Bank of Email: info@ca-adlalwani.com |
|
Nature of
instrument creating charge |
1.Release Letter
of Property Situated At 24,SwastikChambers, |
|
Date of
instrument Creating the charge |
07.09.2011 |
|
Amount secured by
the charge |
Rs.37.326
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As Stipulated By
Bank From Time To Time Terms of
Repayment As Stipulated By
Bank From Time To Time Margin As Stipulated By
Bank From Time To Time Extent and
Operation of the charge First charge
(present and future) total limit rs. 373.26 lacs And / or as
stipulated by bank from time to time Others As Stipulated by
Bank From Time To Time and As Per Agreement Attached and as Per Sanction
Letter of The Bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First charge
(present and future) (1)equitable
mortgage by deposit of title deeds over immovable properties, comprising land
and building and other structure, fixed machinery, plant fixtures/ fittings
erected or installed thereon situate at Plot No: 87, Panvel Industrial
Co-Operative Estate Limited, Panvel, District Raigad, Navi Mumbai-410206. (
built up area 350 sq. mtrs ) |
|
Particulars of
the present modification |
By this
modification limit remain same Rs.37.326 millions ,bank has released security
of property situated at 24,Swastik Chambers, Cst Road, Chembur, Mumbai -71
,other securities are continued as given by original charge as well as by
modification |
FIXED ASSETS
- Office Equipment
- Plant and Machinery
- Computer
- Furniture and Fixture
- Telephone Equipment
- Lab Equipment
- Air Conditioner
- Office Premises
- Motor Car
- Residential Premises
- New
- Water Tank
- Electric Fitting
- Refrigerator
·
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.49.15 |
|
|
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.57 |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.