MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ZYDUS ANIMAL HEALTH LIMITED (w.e.f. 12.07.2007) |
|
|
|
|
Formerly Known
As : |
SARABHAI ZYDUS ANIMAL HEALTH LIMITED |
|
|
|
|
Registered
Office : |
Flat No. 202 and 203, M-3 AVG Bhavan, Middle Circle Connaught Circus, New Delhi – 110001 |
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Country : |
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|
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Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.03.2000 |
|
|
|
|
Com. Reg. No.: |
55-104724 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs. 240.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239DL2000PLC104724 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS5092D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Veterinary Health Products |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a 100% subsidiary of Cadila Healthcare Limited. It is a well established company having a good track record. The
financial position of the company seems to be strong. Performance capability is
high. Liquidity position is good. 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 dealings at usual
trade terms and condition. |
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) |
|
India |
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.
LOCATIONS
|
Registered Office : |
Flat No. 202 and 203, M-3 AVG Bhavan, Middle Circle
Connaught Circus, New Delhi – 110001, India |
|
Tel. No.: |
91-11-55255448 |
|
Fax No.: |
91-11-41517780 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Pankaj Ramanbhai Patel |
|
Designation : |
Nominee Director |
|
Address : |
16, Azad Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
16.03.1953 |
|
Date of Appointment : |
27.03.2000 |
|
DIN No.: |
00131852 |
|
|
|
|
Name : |
Mr. Ganesh Narayan Nayak |
|
Designation : |
Nominee Director |
|
Address : |
3, Ashwamegh, Part V, Jodhpur Satellite Road, Satellite, Ahmedabad –
380015, Gujarat, India |
|
Date of Birth/Age : |
18.05.1955 |
|
Date of Appointment : |
03.04.2000 |
|
DIN No.: |
00017481 |
|
|
|
|
Name : |
Mr. Sharvil Pankajbhai Patel |
|
Designation : |
Nominee Director |
|
Address : |
16, Azad Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
13.10.1978 |
|
Date of Appointment : |
11.10.2001 |
|
DIN No.: |
00131995 |
|
|
|
|
Name : |
Mr. Arun Atrey |
|
Designation : |
Managing Director |
|
Address : |
3, Pushp Bunglow Ashok Vatka, Behind Iscon Temple, Bodakdev, Ahmedabad
– 380015, Gujarat, India |
|
Date of Birth/Age : |
03.07.1958 |
|
Date of Appointment : |
11.11.2003 |
|
DIN No.: |
00032249 |
KEY EXECUTIVES
|
Name : |
Mr. Urvi Aashish Kadakia |
|
Designation : |
Secretary |
|
Address : |
B/13, Ashok Vatika Society, Behind Bright School Karelibaug, Vadodara
– 390018, Gujarat, India |
|
Date of Birth/Age : |
08.09.1974 |
|
Date of Appointment : |
07.06.2006 |
|
Pan No. : |
AROPK9442K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Cadila Healthcare Limited, India |
|
23999940 |
|
Patel Ramanbhai Pankajbhai |
|
10 |
|
Zydus Pharmaceuticals Limited, India |
|
10 |
|
Dialforhealth India Limited, India |
|
10 |
|
Grman Remedies Limited, India |
|
10 |
|
Liva Healthcare Limited, India |
|
10 |
|
Bisht Jogindersingh Dharmendersingh |
|
10 |
|
Total |
|
24000000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Veterinary Health Products |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India |
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|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dhirubhai Shah and Company Chartered Accountants |
|
Address : |
401/408, "Aditya", Behind Abhijeet-I, Near Mithakali Circle, Ellisbridge, Ahmedabad – 380006, Gujarat, India |
|
PAN.: |
AABFD1936H |
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|
|
|
Holding Company : |
Cadila Healthcare Limited CIN No. : L24230GJ1995PLC025878 |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000000 |
Equity Shares |
Rs.10/- each |
Rs.240.000
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000000 |
Equity Shares |
Rs.10/- each |
Rs.550.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000000 |
Equity Shares |
Rs.10/- each |
Rs.240.000
Millions |
|
|
|
|
|
There is no change in
the number of shares as at the beginning and end of reporting period.
|
Particular |
31.03.2012 |
|
Number of shares at the end of reporting period |
24,000,000 |
The Company has only equity shares. All equity shares carry equal rights with respect to voting dividend. In the event of liquidation of the Company, the equity shareholders shall be entitled to proportionate share of their holding in the assets remained after distribution of all preferential amounts.
Equity shares of Rs.
10/- each, fully paid held by Holding Company, Cadila Healthcare Limited and
its nominees:
|
Number of Shares |
% to total share
holding |
|
24,000,000 |
100% |
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 |
240.000 |
240.000 |
240.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
134.600 |
92.700 |
44.200 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
374.600 |
332.700 |
284.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
374.600 |
332.700 |
284.200 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
32.100 |
33.000 |
19.100 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
80.400 |
46.800 |
46.800 |
|
|
DEFERREX TAX ASSETS |
12.500 |
17.300 |
23.800 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
222.700
|
163.000 |
148.600 |
|
|
Sundry Debtors |
225.400
|
187.600 |
148.300 |
|
|
Cash & Bank Balances |
175.700
|
203.700 |
172.200 |
|
|
Other Current Assets |
5.300
|
25.900 |
0.000 |
|
|
Loans & Advances |
31.100
|
30.400 |
78.300 |
|
Total
Current Assets |
660.200
|
610.600 |
547.400 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
184.600
|
145.700 |
194.100 |
|
|
Other Current Liabilities |
20.000
|
22.600 |
0.000 |
|
|
Provisions |
206.000
|
206.700 |
158.800 |
|
Total
Current Liabilities |
410.600
|
375.000 |
352.900 |
|
|
Net Current Assets |
249.600
|
235.600 |
194.500 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
374.600 |
332.700 |
284.200 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1588.000 |
1367.900 |
1163.900 |
|
|
|
Other Income |
12.800 |
13.100 |
49.100 |
|
|
|
TOTAL (A) |
1600.800 |
1381.000 |
1213.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
472.900 |
|
|
|
|
|
Purchases of stock-in-trade |
449.300 |
351.800 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(54.100) |
(22.200) |
878.400 |
|
|
|
Employee benefit expense |
104.700 |
97.600 |
|
|
|
|
Other expenses |
305.400 |
244.600 |
|
|
|
|
TOTAL (B) |
1278.200 |
1037.400 |
878.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
322.600 |
343.600 |
334.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.700 |
3.300 |
0.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
319.900 |
340.300 |
333.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.900 |
2.500 |
87.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
315.000 |
337.800 |
246.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
105.700 |
121.900 |
75.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
209.300 |
215.900 |
170.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
52.700 |
26.700 |
13.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
22.500 |
22.500 |
17.500 |
|
|
|
Dividend |
144.000 |
144.000 |
120.000 |
|
|
|
Tax on Dividend |
23.400 |
23.400 |
19.900 |
|
|
BALANCE CARRIED
TO THE B/S |
72.100 |
52.700 |
26.700 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.72 |
9.00 |
3.16 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
13.07
|
15.63 |
14.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.84
|
24.69 |
21.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
45.50
|
52.49 |
43.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.84
|
1.02 |
0.87 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
1.63 |
1.55 |
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 |
No |
|
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) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BUSINESS OPERATIONS:
The sales and other income from operations was up by 16% to Rs.1600.800 Millions as compared to Rs.1381.000 Millions in the previous year. The Profit before Tax was decreased by Rs. 22.800 Millions to Rs. 315.0000 Millions, mainly due to new provisions to levy counter veiling duty on the vaccines and adverse foreign exchange rates. After providing for taxation, there remain Net Profit of Rs. 209.300 Millions. After adding thereto balance brought forward from the previous year of Rs. 52.700 Millions, there remains Rs. 262.000 Millions available for appropriation, which is appropriated as shown in the above table
The Company has introduced 11 new products in the market. Further, the Company has adopted innovative marketing strategies and improvement in the product mix.
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
Claims against the Company not acknowledged as debts |
-- |
5.300 |
|
In respect of guarantees given by Banks and/ or counter guarantees given by the Company |
0.200 |
-- |
|
Other money for which the company is contingently liable: |
|
|
|
A In respect of demand raised by the Government of Gujarat in respect of Stamp duty payable on the Trademarks acquired by the Company, against which the Company has preferred an appeal before Hon'able Delhi High Court. |
-- |
32.500 |
|
B In respect of Sales Tax matters pending before appellate authorities/ Court which the Company expects to succeed, based on decisions of Tribunals/ Courts. |
12.200 |
-- |
|
C Letters of Credit for Imports |
-- |
6.100 |
FIXED ASSETS
· Land
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
AS PER WEBSITE
PRESS RELEASE
ZYDUS CADILA ACQUIRES
GERMAN CO FROM ICICI VENTURE
AHMEDABAD, JULY
27:
Cadila Healthcare Limited (Zydus Cadila), through its fully-owned subsidiary Zydus Animal Health Limited (ZAHL), has signed a share purchase agreement with ICICI Venture to acquire 100% shareholding of Finest Procuring Solutions Limited, which in turn holds cent percent shareholding of Bremer Pharma GmbH of Germany.
The agreement, announced on Wednesday, includes the transfer of all key assets, people, brands and export contracts of Bremer, a global animal health company headquartered in Warburg-Scherfede, Germany. However, Zydus Cadila did not disclose financial details of the transaction.
The acquisition will help Zydus AHL expand its animal health business and gain strategic access to the key markets across Europe, South America, Asia and Africa. The global animal health business is valued at $ 20 billion.
Speaking on the development, Mr. Pankaj R Patel, Chairman and Managing Director, said that Bremer’s high quality, generic veterinary pharmaceutical business and extensive presence in the global markets will help Zydus Cadila leverage its strengths and add new dimensions to its growth in the animal health business.
Bremer Pharma has over 500 registrations and a network of distributors in more than 50 countries. The company has research facilities and infrastructure for manufacturing powders, tablets, liquids in Warburg-Scherfede, Germany. The plant is compliant with the EC-GMP and EHS norms. It also has an extensive quality assurance system and a DIN ISO9001:2008 certification. Bremer Pharma has been in the animal health business since 1982.
Keywords: Zydus Animal Health Limited, ICICI Venture, Finest Procuring Solutions Limited, Bremer Pharma GmbH,
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] 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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.