|
Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
JOHNSON AND JOHNSON LIMITED |
|
|
|
|
Registered
Office : |
Spencer’s Building, 30, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.09.1957 |
|
|
|
|
Com. Reg. No.: |
11-010928 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.144.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33110MH1957PLC010928 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ05781G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of various Healthcare Products. |
|
|
|
|
No. of Employees : |
108300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
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 32790000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial
position of the company appears to be sound. However trade relations are reported
as fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and 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.
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 |
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 DECLINED BY
Management non co-operative
LOCATIONS
|
Registered Office : |
Spencer’s Building, 30, |
|
Tel. No.: |
91-22-23861431 / 24241431/23861451 /
66646464 |
|
Fax No.: |
91-22-23871482 / 23801482 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mr. Swami Kumar Gajanan Raote |
|
Designation : |
Managing Director |
|
Address : |
Samarath Ashraya, 64/P, Parel, Mumbai – 400 012, |
|
Date of Birth/Age : |
23.05.1964 |
|
Qualification : |
B. Pharm, P.G.D.M., D.C.P. |
|
Date of Appointment : |
02.04.2009 |
|
PAN No.: |
AABPR2709J |
|
DIN No.: |
02610317 |
|
|
|
|
Name : |
Mr. Vaidheesh Annaswamy |
|
Designation : |
Whole Time Director |
|
Address : |
D5, |
|
Date of Birth/Age : |
16.09.1959 |
|
Date of Appointment : |
12.03.2007 |
|
PAN No.: |
ACGPV5317B |
|
DIN No.: |
01444303 |
|
|
|
|
Name : |
Mr. Rajan Sunderdas Tejua |
|
Designation : |
Whole time Director |
|
Address : |
7 W and 8W, 5th and 6th Floor, Shimira, |
|
Date of Birth/Age : |
17.09.1960 |
|
Date of Appointment : |
14.12.2006 |
|
PAN No.: |
AACPT0045N |
|
DIN No.: |
01478969 |
|
|
|
|
Name : |
Mr. Marco Philipus Ardeshir Wadia |
|
Designation : |
Director |
|
Address : |
Thakur Nivas 173, |
|
Date of Birth/Age : |
30.01.1956 |
|
Date of Appointment : |
28.11.2003 |
|
DIN No.: |
00244357 |
|
|
|
|
Name : |
Mr. Suresh Narsappa Talwar |
|
Designation : |
Alternate Director |
|
Address : |
10, Shiv Shanti Bhuvan, 146, |
|
Date of Birth/Age : |
21.11.1938 |
|
Date of Appointment : |
28.04.2011 |
|
DIN No.: |
00001456 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Vasantrai Upadhyay |
|
Designation : |
Secretary |
|
Address : |
81 – A, |
|
Date of Birth/Age : |
22.09.1958 |
|
Date of Appointment : |
01.09.2000 |
|
PAN No.: |
AAAPU0992M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
No. of Shares |
|
Johnson and |
1080000 |
|
Depuy Medical Private Limited, |
360000 |
|
TOTAL
|
1440000 |
AS ON 26.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
75.00 |
|
Bodies corporate |
25.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of various Healthcare products. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
|
Pressure sensitive adhesive tapes |
Meters |
1316160 |
|
Sutures & Other surgeon's requisites |
Dozens |
360000 |
|
Ortho Pharmaceutical
Corporation |
|
|
|
Lubricating Jelly |
Tones |
590 |
|
Johnson's ** baby products |
Tones |
2075 |
|
Shampoo |
Tones |
12 |
|
Johnson's ** prickly heat products |
Tones |
330 |
|
Toothbrushes |
-- |
Unlimited |
|
Orthopaedic plaster of paris bandages |
Meters |
329040 |
|
Sanitary protection products |
Units |
216 Million |
|
Surgical Powders |
Tones |
180 |
** Trade Mark
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Pressure sensitive
adhesive tapes : |
|
|
|
|
Drug varieties |
Meters |
13.60 Lakhs |
248034 |
|
Sutures and
other surgeons' requisites : |
|
|
|
|
Sterilised
surgical sutures and surgeons' requisites |
Dozens |
142.30 Lakhs |
3319585 |
|
Non-sterile sutures |
Meters |
181.31 Lakhs |
-- |
|
Sterilising fluids |
Kilolitres |
8140.000 |
-- |
|
Gauze and bandages |
Sq. Meters |
13.36 Lakhs |
-- |
|
Eyepads |
Units |
18.00 Lakhs |
-- |
|
Surgipads |
Sq. Meters |
170.00 Lakhs |
-- |
|
Orthopaedic plaster of paris bandages |
Meters |
63.63 Lakhs |
-- |
|
Baby, prickly heat and adult powders |
Tones |
7884 |
5534 |
|
Miscellaneous
baby products, gynecic and therapeutic products |
Tones |
14830 |
9125 |
|
Sanitary protection products |
Millions |
562 |
1633 |
|
Cotton Buds |
Millions |
1437 |
-- |
|
Surgical powder |
Tones |
45 |
-- |
|
Dental floss |
Meters |
160 Lakhs |
-- |
|
Ointments |
Tones |
345 |
57 |
|
Chemicals |
Tones |
100 |
-- |
|
Tablets |
Millions |
4.40 |
313 |
|
Capsules |
Millions |
-- |
13 |
|
Liquids |
Kiloliters |
-- |
1192 |
|
Endovascular Surgical Accessories* |
Pieces |
-- |
48812 |
* The quantitative
information for the noted categories has been disclosed in the current year based
on the primary selling unit of measurement instead of secondary selling unit of
measurement as disclosed in the previous year and hence the previous year’s
number are not comparable for such categories
GENERAL INFORMATION
|
No. of Employees : |
108300 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
The Hong Kong and the Shanghai Banking
Corporation Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai – 400 001,
Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, |
|
PAN No.: |
AABFL5878L |
|
|
|
|
Holding Company : |
Johnson and Johnson, U.S.A |
|
|
|
|
Subsidiaries : |
Deshraj
Investments and Trading Company Limited CIN No.:-
U65990MH1981PLC023828 Key to Riches
Investment and Leasing Limited CIN No.:-
U67120MH1987PTC043329 Loyalty Investments
and Enterprises Limited CIN No.:-
U67120MH1984PTC032582 Suryalay Investment and Trading Company Limited CIN No.:- U65990MH1981PLC023690 |
|
|
|
|
Fellow
Subsidiaries / Associate Enterprises with whom the Company has transactions : |
CIN No.:-
U24239MH1981PLC025232 |
|
|
|
|
Enterprises
having significant influence : |
Depuy Medical
Private Limited CIN No.:-
U51900MH1996PTC104318 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1440000 |
Equity Shares |
Rs.100/-
each |
Rs. 144.000
Millions |
|
|
|
|
|
NOTE
Of the above,
1,416,000 equity shares are allotted as fully paid bonus shares by
capitalization of General Reserve (Johnson and Johnson, U.S.A., the holding
company holds 1,080,000 Equity shares of Rs.100/- each)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 (12 Months) |
31.03.2009 (15 Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
144.000 |
144.000 |
144.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8054.593 |
6287.787 |
4878.630 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8198.593 |
6431.787 |
5022.630 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
716.667 |
1433.333 |
|
|
TOTAL BORROWING |
0.000 |
716.667 |
1433.333 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8198.593 |
7148.454 |
6455.963 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4512.222 |
4337.817 |
3797.395 |
|
|
Capital work-in-progress |
567.471 |
195.960 |
650.963 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.051 |
0.051 |
0.051 |
|
|
DEFERREX TAX ASSETS |
242.480 |
169.901 |
172.867 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3994.004
|
2405.440
|
2061.361
|
|
|
Sundry Debtors |
2515.076
|
1840.901
|
1303.908
|
|
|
Cash & Bank Balances |
483.699
|
480.945
|
1269.510
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.973
|
|
|
Loans & Advances |
4331.300
|
3705.844
|
3218.489
|
|
Total
Current Assets |
11324.079
|
8433.130 |
7854.241 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6777.740
|
4291.410
|
4742.280
|
|
|
Other Current Liabilities |
349.813
|
373.347
|
271.206 |
|
|
Provisions |
1320.157
|
1323.648
|
1006.068
|
|
Total
Current Liabilities |
8447.710
|
5988.405 |
6019.554 |
|
|
Net Current Assets |
2876.369
|
2444.725
|
1834.687
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8198.593 |
7148.454 |
6455.963 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 (12 Months) |
31.03.2009 (15 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
27117.976 |
23982.820 |
24972.596 |
|
|
|
Other Income |
2551.882 |
2113.185 |
2291.994 |
|
|
|
TOTAL (A) |
29669.858 |
26096.005 |
27264.590 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Change Inventories |
11577.156 |
9835.622 |
10827.051 |
|
|
|
Manufacturing Service Costs |
3383.094 |
2833.070 |
0.000 |
|
|
|
Employee Related Expenses |
3812.183 |
3300.265 |
0.000 |
|
|
|
Administrative, Selling & Other Expenses |
8097.188 |
7030.598 |
12204.603 |
|
|
|
Exceptional Item – Demand raised by NPPA |
0.000 |
0.000 |
125.913 |
|
|
|
TOTAL (B) |
26869.621 |
22999.555 |
23157.567 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2800.237 |
3096.450 |
4107.023 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.903 |
111.589 |
228.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2760.334 |
2984.861 |
3878.535 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
762.648 |
710.867 |
694.489 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1997.686 |
2273.994 |
3184.046 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
230.880 |
534.976 |
1077.463 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1766.806 |
1739.018 |
2106.583 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4813.397 |
3542.135 |
2235.866 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
0.000 |
0.000 |
504.000 |
|
|
|
Proposed Dividend |
0.000 |
252.000 |
0.000 |
|
|
|
Tax on Interim Dividend |
0.000 |
0.000 |
85.655 |
|
|
|
Tax on Proposed Dividend |
0.000 |
41.854 |
0.000 |
|
|
|
General Reserve |
0.000 |
173.902 |
210.659 |
|
|
BALANCE CARRIED
TO THE B/S |
6580.203 |
4813.397 |
3542.135 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1570.359 |
1265.314 |
1224.882 |
|
|
|
Rebate on Imports |
23.204 |
18.155 |
20.228 |
|
|
|
Other Earnings |
1886.290 |
1904.484 |
1890.038 |
|
|
|
Sales of Business |
255.083 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
3734.936 |
3187.953 |
3135.148 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6817.835 |
5729.353 |
6062.016 |
|
|
|
Stores & Spares |
20.196 |
9.998 |
9.131 |
|
|
|
Capital Goods |
269.847 |
270.405 |
213.579 |
|
|
TOTAL IMPORTS |
7107.878 |
6009.756 |
6284.726 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1226.95 |
1207.65 |
1462.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 (12 Months) |
31.03.2009 (15 Months) |
|
PAT / Total Income |
(%) |
5.95
|
6.66 |
7.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.37
|
9.48 |
12.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.42
|
17.57 |
27.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.35 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.03
|
1.04 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.41 |
1.30 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
57.503 |
10.456 |
0.000 |
|
Creditors due others |
6720.237 |
4280.954 |
4742.280 |
|
TOTAL |
6777.740 |
4291.410 |
4742.280 |
TURNOVER
Total sales
turnover during the year amounted to Rs.27117.976 Millions as compared to the turnover
of Rs.23.982.820 Millions for the previous period.
PROFITS
The profit for the year after tax amounted to Rs.1766.806 Millions as
compared to the profit of Rs.1739.018 Millions for the previous period.
FIXED ASSETS
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. 51.61 |
|
|
1 |
Rs. 83.57 |
|
Euro |
1 |
Rs. 67.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
67 |
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.