MIRA
INFORM REPORT
|
Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARISTO PHARMACEUTICALS PRIVATE LIMITED (w.e.f. 03.02.2005) |
|
|
|
|
Formerly Known
As : |
ARISTO PHARMACEUTICALS LIMITED |
|
|
|
|
Registered
Office : |
12 J N Heredia Marg, Ballard Estate, Mumbai 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.11.1971 |
|
|
|
|
Com. Reg. No.: |
11-015425 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 9.897 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1971PTC015425 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA22661C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4495N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical, Medical Chemicals and Botanical
Products. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
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 38000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company. Directors are
experienced businessmen. Company is having excellent track record. Financially company is
performing well. Fundamental seems strong. Trade relations are reported to be
fair. Business is active. Payments are reported to be regular and as per
commitment. The company can be considered for normal 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.
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 DENIED BY
|
Name : |
Mr. Baban |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-26739999 |
|
Date : |
07.09.2012 |
LOCATIONS
|
Registered
Office : |
12 J N Heredia Marg, Ballard Estate, Mumbai 400001, Maharashtra, India
|
|
Tel. No.: |
91-22-22617909 /
749 / 22671436 / 22619582 |
|
Fax No.: |
91-22-22615604 |
|
E-Mail : |
|
|
Website: |
|
|
Area: |
1500 sq. ft |
|
Location: |
Rented |
|
|
|
|
Corporate
Office : |
23-A, Shah
Industrial Estate, Off Tel. No. Fax No. E Mail |
|
Tel. No.: |
91-22-26739999 |
|
Fax No.: |
91-22-26734792 |
|
E-Mail : |
DIRECTORS
AS ON 23.06.2011
|
Name : |
Mr. Umesh Sharma |
|
Designation : |
Managing director |
|
Address : |
East Khemini Chak, Kankarbagh, Patna - 800020, Bihar, India |
|
Date of Birth/Age : |
15.11.1952 |
|
PAN No.: |
AJGPS6979P |
|
Date of Appointment : |
12.02.1979 |
|
DIN No.: |
01385819 |
|
|
|
|
Name : |
Mr. Randhir Kumar Bachan |
|
Designation : |
Director |
|
Address : |
Village Govindpur, PS : Ghoshi Post, Modan Ganj, Jehanabad – 804406, |
|
Date of Birth/Age : |
19.11.1971 |
|
PAN No.: |
AEHPB8901Q |
|
Date of Appointment : |
01.09.2005 |
|
DIN No.: |
01163058 |
|
|
|
|
Name : |
Mr. Virendra Sharma |
|
Designation : |
Director |
|
Address : |
703, A-22, Bakers, Shastri Nagar, Andheri (West), Mumbai-400053,
Maharashtra, India |
|
Date of Birth/Age : |
18.01.1969 |
|
Date of Appointment : |
03.10.2006 |
|
DIN No.: |
01449416 |
|
|
|
|
Name : |
Mr. Raj Nandan Sharma |
|
Designation : |
Director |
|
Address : |
Village Berra, Post Berra, P.S. Masaurhi – 804454, |
|
Date of Birth/Age : |
09.11.1948 |
|
PAN No.: |
CUQPS2452C |
|
Date of Appointment : |
25.05.2010 |
|
DIN No.: |
01623096 |
KEY EXECUTIVES
|
Name : |
Mr. Baban |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.06.2011
|
Names of Shareholders |
No. of
Shares |
|
Mr. Mahendra Prasad B. Sharma |
87020 |
|
Mr. Umesh B. Sharma |
680 |
|
Mrs. Renukadevi U. Sharma |
4160 |
|
Mr. Ranjit M. Sharma |
1340 |
|
Mr. Rajeev M. Sharma |
1370 |
|
Mr. Rahul U. Sharma |
1160 |
|
Mrs. Umadevi D. Bhatti |
250 |
|
Mr. Aradhya Rai |
1495 |
|
Mr. Achintya Rai |
1495 |
|
Total |
98970 |
AS ON 23.06.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical, Medical Chemicals and Botanical
Products. |
||||||||||||||||
|
|
|
||||||||||||||||
|
Products : |
Ø
Broad
Spectrum Antibiotic Ø
Aristozyme
Liquid Dosestine Enzyme Ø
Flexen Ø
Analsesic
and Antipyretic Ø
Aminoglycosides Ø
Anti-Tuberculosis Ø
Anti-Malarial Ø
Anti-Scabies Ø
Anti
Diabetics Ø
Anti-
Diarrhoeals Ø
Anti-Histamine Ø
Anti-Inflammatory Ø
Anti-Ulcerants Ø
Anxiocytics Ø
Cephalosporins Ø
Cough
Expectorants Ø
Fluroquinones Ø
Macrolides Ø
Nutritionals Ø
Ophthalmological
Ø
Penicillis Ø
Sulfonamides Ø Tetracyclines
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Brand Names : |
Ø
"Alsartan" Ø
"Alsartan
AM" Ø
"Alsartan-H"
Ø
"Ambrodil"
Ø
"Ambrodil
Plus" Ø
Ambrodil-S" Ø
"Aristocillin"
Ø
"Aristogyl"
Ø
"Aristogyl
Plus" Ø
"Aristogyl
– F" Ø
"Aristomox"
Ø
"Arostpneurol" Ø
"Aristoprotone" Ø
"Aristozyme"
Ø
“Bacigyl" Ø
"Betaspore"
Ø
"Cefekit" Ø
"Cefadrox" Ø
"Citizol"
Ø
"Coxina
– 3" Ø
"Coxina
– 4" Ø
"Coxinex" Ø
"Fadine" Ø
"Flexofen"
Ø
"Flexon"
Ø
"Forcef"
Ø
"Glubose"
Ø
"Glycigon"
“Glycigon-M" Ø
"Halocef""Lenteclin" Ø
"Mefloc",
"Megapen" Ø
"Megapen
Neonatal" Ø
"Meloset" Ø
"Mikacin"
Ø
"Mini-Citizol" Ø
"Monocef" Ø
"Monocef-O" Ø
"Nimodol" Ø
"Ofler"
Ø
"Omnicef" Ø
"Ornida" Ø
"Ostebon" Ø
"Pantop", Ø
"Promisec" Ø
"Protone" Ø
"Qucin" Ø
"Ramlo", Ø
"Rofib" Ø
"Roxem"
Ø
"Scarab"
Ø
"Semi-Glycigon"
Ø
"Softeron" Ø
"Softeron-Z"
Ø
"Sparquin"
Ø
"Spasmo-Flexon" Ø
"Stresnil",
"Tabrol" Ø
"Tabrol
D. S." Ø
"Tabrol
S. S." Ø
"Tobacin" Ø
"Tobacin-D" Ø
Tromax" Ø
"Visco". |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Bankers : |
Not Available |
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||||||||||||||||||||||||||||||
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Facilities : |
|
||||||||||||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K. B. Lal Agrawal and Company Chartered Accountants |
|
Address : |
Sri Ram Bhawan , Exhibition Road, Patna – 800001, Bihar, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACDPA2431N |
|
|
|
|
Associates : |
Ø Aristo Laboratories
Private Limited [U24110AP1980PTC005938] Ø Mapra
Laboratories Private Limited [U24100MH1985PTC037946] |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99,000 |
Equity Shares |
Rs. 100/- each |
Rs. 9.900 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98,970 |
Equity Share |
Rs. 100/- each |
Rs. 9.897
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 |
9.897 |
9.897 |
9.897 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9562.190 |
8190.669 |
7318.607 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9572.087 |
8200.566 |
7328.504 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
370.961 |
473.210 |
348.583 |
|
|
2] Unsecured Loans |
33.865 |
36.509 |
40.329 |
|
|
TOTAL BORROWING |
404.826 |
509.719 |
388.912 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9976.913 |
8710.285 |
7717.416 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1279.949 |
1097.075 |
676.454 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1554.972
|
1163.672 |
1233.316
|
|
|
Sundry Debtors |
744.051
|
521.957 |
512.361
|
|
|
Cash & Bank Balances |
6806.643
|
7468.701 |
6574.111
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
5986.757
|
4801.845 |
3707.965
|
|
Total
Current Assets |
15092.423
|
13956.175 |
12027.753
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
369.415
|
424.673 |
315.525
|
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000
|
|
|
Provisions |
6026.044
|
5918.292 |
4671.266
|
|
Total
Current Liabilities |
6395.459
|
6342.965 |
4986.791
|
|
|
Net Current Assets |
8696.964
|
7613.210 |
7040.962
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9976.913 |
8710.285 |
7717.416 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10629.800 |
9026.700 |
7730.500 |
|
|
|
Other Income |
670.161 |
687.935 |
563.799 |
|
|
|
TOTAL (A) |
11299.961 |
9714.635 |
8294.299 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
7427.161 |
6492.435 |
5891.399 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3872.800 |
3222.200 |
2402.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
162.700 |
50.900 |
42.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3710.100 |
3171.300 |
2360.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1127.525 |
1087.458 |
842.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2582.600 |
2083.800 |
1518.100 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3488.200 |
2826.100 |
2521.700 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
851.100 |
0.000 |
0.000 |
|
|
|
Proposed Final Dividend |
188.000 |
1039.100 |
900.600 |
|
|
|
Tax on Dividend |
171.900 |
172.600 |
153.100 |
|
|
|
Transferred to General Reserve |
260.000 |
210.000 |
160.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4599.800 |
3488.200 |
2826.100 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26094.00 |
21055.29 |
15339.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
22.85 |
21.45
|
18.30
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
34.90 |
35.13
|
30.53
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.66 |
21.07
|
18.58
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.39
|
0.32
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.71 |
0.84
|
0.73
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.36 |
2.20
|
2.41
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
9.973 |
8.684 |
0.000 |
|
Creditors due others |
359.442 |
415.989 |
315.525 |
|
Sundry creditors |
369.415 |
424.673 |
315.525
|
|
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 |
Yes |
|
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 |
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) |
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 |
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 |
OPERATIONS
The Company has
improved its sales for the year to Rs.10629.800 Millions compared to Rs.
9026.700 Millions in the previous year. The Net Profit before Tax has also
shown a growth to Rs.3710.100 Millions for the year compared to Rs. 3171.300
Millions achieved in the immediate previous year.
FIXED ASSETS:
Ø
Land
Ø
Factory
Building
Ø
Furniture
and Fixtures
Ø
Office
Equipments
Ø
Light
and Fans
Ø
Air
Conditioners
Ø
Electrical
Installations
Ø
Plant
and Machinery
Ø
Weighting
Scale
Ø
Beiler
Ø
Motor
Car
Ø
Vehicles
Ø
Computers
and Software
Ø
Factory
Equipment
Ø
Gas
Generation Plant
Ø
Storage
Tanks
Ø
Tube
Well
WEBSITE DETAILS:
History:
Subject started its
operations in 1971 with a manufacturing plant at
Subject has a field force of 1200 of which 900 are frontline covering
about 1,50,000 doctors in the country
Subject has 17 company owned distribution depots serving 2000 stockists
& a reach of over 60,000 chemists.
MARKET RANKING
Subject is ranked No. 1 in it’s covered market with a market share of
7.16%
ORG-MARG Data August 2002
Subject is ranked as the No.1 company in
OTSIRA-GENETICA
A business division
of subject is reckoned as one of the most successful new marketing division in
the country with US $ 9 million turnover in 4th year of operation.
ORG-MARG Data August 2002
TOP BRANDS
Subject has 7
brands in the coveted Top 200 brands of the Indian pharma market
Monocef (Ceftriaxone)
Mikacin (Amikacin)
Megapen (Ampicillin and Cloxacillin)
Flexon (Ibuprofen and Paracetamol)
Cefadrox (Cefadroxil)
Aristozyme ( A Digestive enzyme)
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. 55.97 |
|
|
1 |
Rs. 89.02 |
|
Euro |
1 |
Rs. 70.61 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
69 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.