|
Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOLITAIRE PHARMACIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.73, Industrial Area, Phase-II, Chandigarh – 160002, Chandigarh |
|
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Country : |
|
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|
|
|
Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
07.12.1987 |
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|
Com. Reg. No.: |
53-026264 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.890 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232CH1987PTC026264 |
|
|
|
|
IEC No.: |
2208003799 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLS15553G |
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|
|
|
PAN No.: [Permanent Account No.] |
AAHCS5485R |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Pharmaceutical Formulation-Finished
Medicines. |
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|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 64000 |
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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 a satisfactory track record. Trade
relations are 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 PARTED BY
|
Name : |
Mr. Sanjeev Sethi |
|
Designation : |
Director |
|
Contact No.: |
91-172-4237709 |
|
Date : |
30.03.2013 |
LOCATIONS
|
Registered Office : |
Plot No.73, Industrial Area, Phase-II, Chandigarh – 160002,
Chandigarh, India |
|
Tel. No.: |
91-172-4237704/ 09/ 4600087/ 88/ 5000477/ 5000478 |
|
Mobile No.: |
91-9815777744/ 9872777755 (Mr. Sanjeev Sethi) |
|
Fax No.: |
91-172-4600087/ 5000477/ 2653293 |
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E-Mail : |
|
|
Website : |
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|
Area : |
1500 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory : |
Plot No. 25, HPSIDC, Industrial Area, Extension 1, Baddi District
Salan – 173205, Himachal Pradesh, India |
|
Area : |
20,000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Sanjeev Kumar Sethi |
|
Designation : |
Managing Director |
|
Address : |
Flat No.503, GH – 30, Sector 20, Panchkula – 134108, Haryana, India |
|
Date of Birth/Age : |
21.09.1970 |
|
Date of Appointment : |
01.07.2006 |
|
Pan No.: |
AWDPS0395P |
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DIN No.: |
00487430 |
|
|
|
|
Name : |
Mrs. Anita Sanjeev Sethi |
|
Designation : |
Director |
|
Address : |
Flat No.503, GH – 30, Sector 20, Panchkula – 134108, Haryana, India |
|
Date of Birth/Age : |
10.02.1978 |
|
Date of Appointment : |
01.07.2006 |
|
PAN No.: |
AXMPS9270K |
|
DIN No.: |
00487432 |
|
|
|
|
Name : |
Mrs. Pushpa Gobind Ram Rani |
|
Designation : |
Director |
|
Address : |
H. No.503, GHS-30, Sector – 20, Panchkula, Haryana, India |
|
Date of Birth/Age : |
01.01.1954 |
|
Date of Appointment : |
07.08.2003 |
|
DIN No.: |
01381614 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sanjeev Kumar Sethi |
|
19934 |
|
Anita Sethi |
|
23333 |
|
Pushpa Rani |
|
3333 |
|
Anand Khosla |
|
2400 |
|
Anand Khosla (HUF) |
|
40000 |
|
|
|
|
|
Total |
|
89000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceutical Formulation-Finished
Medicines. |
|
|
|
|
Products : |
·
Anti-Biotic Tablets ·
Hormonal Tablets ·
Psychotropic Tablets ·
Diabetic Tablets ·
Cardiac Tablets ·
Women and Child Care Drugs ·
Ortho-Care Drugs ·
Eye Drops ·
Ear Drops ·
Nasal Drops ·
Inject able Products ·
Day to Day Care Drugs ·
Tablets, Syrups, Capsules and Injections |
|
|
|
|
Exports : |
|
|
Products : |
Pharmaceutical Formulation |
|
Countries : |
·
Nepal ·
Ghana ·
Latin America |
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|
|
|
Terms : |
|
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
· Kotak Mahindra Bank Limited 36-38-A, Nariman Bhavan, 227-D, Nariman Point, Mumbai – 400021,
Maharashtra, India ·
Bank of India, Sector 20, Panchkula – 134108, Haryana, India ·
ICICI Bank ·
Citi Bank ·
HDFC Bank ·
State Bank of India |
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Facilities : |
Cash Credit = Rs.18.500 Millions from Bank of India
|
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
Avnish Sharma and Associates Chartered Accountant |
|
Address : |
SCO 47, Dakshin Marg, Sector 20-C, Chandigarh – 160020, Chandigarh,
India |
|
Tel. No.: |
91-172-2706330/ 5076330 |
|
PAN No.: |
AABFA5610M |
|
E-Mail : |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Share |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
89000 |
Equity Share |
Rs.10/- each |
Rs.0.890
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.890 |
0.890 |
0.890 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.650 |
|
|
3] Reserves & Surplus |
15.009 |
7.139 |
4.825 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.899 |
8.029 |
6.365 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.637 |
32.571 |
15.933 |
|
|
2] Unsecured Loans |
0.000 |
2.481 |
5.393 |
|
|
TOTAL BORROWING |
14.637 |
35.052 |
21.326 |
|
|
DEFERRED TAX LIABILITIES |
1.622 |
0.717 |
0.547 |
|
|
|
|
|
|
|
|
TOTAL |
32.158 |
43.798 |
28.238 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
40.559 |
43.796 |
33.639 |
|
|
Capital work-in-progress |
10.639 |
11.767 |
9.460 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.824
|
12.781
|
4.274
|
|
|
Sundry Debtors |
8.287
|
9.325 |
0.000
|
|
|
Cash & Bank Balances |
1.109
|
1.846
|
10.106
|
|
|
Other Current Assets |
0.063
|
0.061
|
0.000 |
|
|
Loans & Advances |
5.175
|
0.461
|
1.305
|
|
Total
Current Assets |
27.458
|
24.474
|
15.685
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
38.570
|
28.786
|
30.546
|
|
|
Other Current Liabilities |
6.504
|
7.122 |
0.000 |
|
|
Provisions |
1.424
|
0.331 |
0.000 |
|
Total
Current Liabilities |
46.498
|
36.239
|
30.546
|
|
|
Net Current Assets |
(19.040)
|
(11.765)
|
(14.861)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
32.158 |
43.798 |
28.238 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Other Income |
154.232 |
108.169 |
82.798 |
|
|
|
TOTAL (A) |
154.232 |
108.169 |
82.798 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
137.467 |
96.990 |
79.329 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
16.765 |
11.179 |
3.469 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.070 |
3.142 |
1.084 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.695 |
8.037 |
2.385 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.170 |
5.005 |
1.212 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.525 |
3.032 |
1.173 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.810 |
0.719 |
0.581 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.715 |
2.313 |
0.592 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
64.21 |
25.99 |
6.65 |
|
Expected Sales (2012-13): Rs.180.000 Millions
The above information has been parted by Mr. Sanjeev Sethi.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.71
|
2.14 |
0.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.06
|
4.44
|
2.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.38
|
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.92
|
4.37
|
3.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.59
|
0.68
|
0.51 |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Trade Securities from Customers |
0.000 |
2.094 |
|
Other Loans |
0.000 |
0.387 |
|
|
|
|
|
Total |
0.000 |
2.481 |
NOTE
The Registered office of the company has been shifted from 62, Industrial Area, Phase-II,
Chandigarh, Chandigarh, India to the present address w.e.f 30.06.2006.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10382356 |
|
Corporate
identity number of the company |
U24232CH1987PTC026264 |
|
Name of the
company |
SOLITAIRE
PHARMACIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
73, Industrial
Area, Phase-II, Chandigarh – 160002, Chandigarh, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Kotak Mahindra
Bank Limited 36-38-A, Nariman
Bhavan, 227-D, Nariman Point,
Mumbai 400021, Maharashtra, India CIN No.: L65110MH1985PLC038137 Email: shakti.vats@kotak.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum for
Recording A Charge/ Extension of Charge By Re-Deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
29.11.2012 |
|
Amount secured by
the charge |
Rs.55.100
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Applicable Rate -
14.50% p.a. (of Rs.1.000 Million) Terms of
Repayment Equated Monthly
Installment (EMI) of Rs.159870/- for 120 Months. (of Rs.10.100 Millions) Margin Nil Extent and
Operation of the charge First and
exclusive charge by way of Mortgage on Immovable property of the Company, in
favour of Kotak Mahindra bank as security for repayment of financial
facilities granted by the Bank to the Company. |
|
Short particulars
of the property charged |
Plot No. 364,
Industrial Area, Phase- I, Chandigarh. |
|
Particulars of
the present modification |
Bank had granted
facilities of Rs.50.000 Millions to the Company which was secured by way of Mortgage
on Immovable property of the Company on 29/08/2012. Now bank has revised said
facilities total of Rs.55.100 Millions and said charge is modified
accordingly. |
FIXED ASSETS
· Land
· Building
· Trade Marks
· Air Conditioner
· Strapping Machine
· Refrigerator
·
Generator
· Furniture and Fixture
·
Inventor, UPS and
· Computer
· Printer
· Vacuum Cleaner
· Fire Extinguisher
· Car
· Fire extinguisher
· Photostats machine
· Camera
· Computer software
· Lift
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 exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.