MIRA
INFORM REPORT
|
Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
RICHTER THEMIS MEDICARE (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 69 A/2, GIDC Industrial Estate, Vapi, District Valsad -
396195, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
01.11.2004 |
|
|
|
|
Com. Reg. No.: |
04-044969 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.140.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230GJ2004PTC044969 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECG5103H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Apis and Intermediates. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 770000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appears some losses recorded by the company. The external borrowing
seems to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with great
caution. |
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve their
business models with the changing time. Readers’ Digest, Thomson Register are
no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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. Uttam Kumar Singh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9925239521 |
|
Date : |
31.07.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 69 A/2, GIDC Industrial Estate, Vapi, District Valsad -
396195, Gujarat, India |
|
Tel. No.: |
91-260-5532701 |
|
Mobile No.: |
91-9925239521 (Mr. Uttam Kumar Singh) |
|
Fax No.: |
91-0260-2424156 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on: 29.06.2012
|
Name : |
Mr. Dinesh Shantilal Patel |
|
Designation : |
Director |
|
Address : |
67, Chhaya Swastik Society, N S Road No.5, JVPD Scheme, Vile Parle
(West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1940 |
|
Date of Appointment : |
01.11.2004 |
|
DIN No.: |
00033273 |
|
|
|
|
Name : |
Mr. Sachin Dinesh Patel |
|
Designation : |
Director |
|
Address : |
67, Chhaya Swastik Society, N S Road No.5, JVPD Scheme, Vile Parle
(West), Mumbai - 400056, Maharashtra, India |
|
Date of Birth/Age : |
18.01.1975 |
|
Date of Appointment : |
01.11.2004 |
|
DIN No.: |
00033353 |
|
|
|
|
Name : |
Laszlo Imre Kovacs |
|
Designation : |
Director |
|
Address : |
Stefania UT 73, Budapest H 1143, Hungary |
|
Date of Birth/Age : |
14.02.1944 |
|
Date of Appointment : |
01.11.2004 |
|
DIN No.: |
00228328 |
|
|
|
|
Name : |
Sandor Tibor Kovats |
|
Designation : |
Alternate director |
|
Address : |
1012 BP Gyozo Utcas, Hungary |
|
Date of Birth/Age : |
18.06.1960 |
|
Date of Appointment : |
18.11.2004 |
|
DIN No.: |
01263274 |
|
|
|
|
Name : |
Lajos Kovacs |
|
Designation : |
Director |
|
Address : |
H – 1196, Budapest, Nagysandor U 100, Hungary |
|
Date of Birth/Age : |
30.08.1960 |
|
Date of Appointment : |
01.11.2004 |
|
DIN No.: |
01297326 |
|
|
|
|
Name : |
Erik Attila Bogsch |
|
Designation : |
Director |
|
Address : |
Kalvin Ter 4, Budapest H – 1053, Budapest, Hungary 1053 |
|
Date of Birth/Age : |
31.10.1947 |
|
Date of Appointment : |
01.11.2004 |
|
DIN No.: |
01297342 |
|
|
|
|
Name : |
Mr. Vijay Gopi Kishan Agarwal |
|
Designation : |
Director |
|
Address : |
3rd Floor, Jyoti Nagar, 6th Gulmohar Cross Lane,
JVPD Scheme, Andheri (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
29.06.1957 |
|
Date of Appointment : |
01.11.2004 |
|
DIN No.: |
00058548 |
|
|
|
|
Name : |
Mr. Rajneesh Kedarnath Anand |
|
Designation : |
Alternate director |
|
Address : |
130, GIDC, Residential Sector 1, GIDC, Vapi, Valsad – 396195, Gujarat,
India |
|
Date of Birth/Age : |
05.03.1954 |
|
Date of Appointment : |
22.09.2005 |
|
Qualification : |
BE, MBA |
|
DIN No.: |
00134856 |
|
PAN No.: |
ABDPA7504M |
KEY EXECUTIVES
|
Name : |
Mr. Uttam Kumar Singh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on: 29.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Gedeon Richter Limited |
|
7140000 |
|
Themis Medicare Limited |
|
6860000 |
|
Total |
|
14000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.06.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
51.00 |
|
Bodies corporate |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Apis and Intermediates. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Hungary |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
Unit |
31.12.2010 |
31.12.2009 |
|
Licensed Capacity |
M.T. |
100 |
100 |
|
Installed Capacity |
M.T. |
100 |
100 |
|
Actual Production |
M.T. |
19 |
33 |
* As certified by the management on which
auditors have placed reliance being a technical matter.
GENERAL INFORMATION
|
Customers : |
Manufacturing Company |
|
|
|
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
Kotak Mahindra Bank, GIDC Industrial Area, Vapi – 396195, Gujarat,
India |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
KPMG House, Kamala Mill Compound, 448 Senapati Bapat Marg, Lower
Parel, Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-39896000 |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Holding Company : |
Gedeon Richter Plc. |
|
|
|
|
Joint Venture : |
Themis Medicare Limited CIN No.: L24110GJ1969PLC001590 |
CAPITAL STRUCTURE
As on: 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.10/- each |
Rs.140.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
140.000 |
140.000 |
140.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
54.193 |
83.297 |
54.959 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
194.193 |
223.297 |
194.959 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
626.774 |
551.483 |
675.365 |
|
|
TOTAL BORROWING |
626.774 |
551.483 |
675.365 |
|
|
Foreign Currency
Monetary Item Transaction Difference Account (FCMITDA) |
0.000 |
0.000 |
2.236 |
|
|
Other
Liabilities |
0.000 |
0.447 |
0.000 |
|
|
|
|
|
|
|
|
DEFERRED TAX LIABILITIES |
39.655 |
22.332 |
47.458 |
|
|
|
|
|
|
|
|
TOTAL |
860.622 |
797.560 |
920.018 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
557.794 |
569.108 |
640.058 |
|
|
Capital work-in-progress |
1.755 |
9.052 |
2.564 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.006 |
0.006 |
66.205 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
163.231 |
145.725 |
106.800 |
|
|
Sundry Debtors |
93.425 |
37.830 |
18.234 |
|
|
Cash & Bank Balances |
55.645 |
42.075 |
77.650 |
|
|
Other Current Assets |
1.753 |
1.496 |
1.240 |
|
|
Loans & Advances |
93.361 |
89.235 |
74.833 |
|
Total
Current Assets |
407.415 |
316.361 |
278.757 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
32.807 |
38.937 |
21.037 |
|
|
Other Current Liabilities |
19.740 |
13.579 |
8.603 |
|
|
Provisions |
53.801 |
44.451 |
37.926 |
|
Total
Current Liabilities |
106.348 |
96.967 |
67.566 |
|
|
Net Current Assets |
301.067 |
219.394 |
211.191 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
860.622 |
797.560 |
920.018 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
459.902 |
312.281 |
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
459.902 |
312.281 |
363.156 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Goods Sold |
NA |
NA |
NA |
|
|
|
Personnel Costs |
|
|
|
|
|
|
Operating and Other administrative expenses |
|
|
|
|
|
|
Amortization of FCMTTD |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
150.198 |
69.812 |
98.128 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
73.521 |
1.645 |
2.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
94.323 |
72.302 |
104.946 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
70.077 |
50.324 |
51.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
24.246 |
21.978 |
53.055 |
|
|
|
|
|
|
|
|
|
|
TAX |
35.412 |
(24.318) |
10.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(11.206) |
46.296 |
42.445 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
69.179 |
41.997 |
18.039 |
|
|
|
|
|
|
|
|
|
|
Opening
transactional adjustment for actuarial valuation surplus/ (Deficit) carried
forward to Balance sheet |
0.000 |
0.000 |
0.047 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
40.074 |
69.179 |
41.998 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
400.462 |
279.206 |
329.952 |
|
|
TOTAL EARNINGS |
400.462 |
279.206 |
329.952 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
NA |
43.350 |
22.667 |
|
|
|
Capital Goods |
|
1.235 |
1.995 |
|
|
|
Travelling Expenses |
|
1.469 |
1.230 |
|
|
|
Interest on unsecured loan |
|
1.644 |
2.442 |
|
|
TOTAL IMPORTS |
NA |
47.698 |
28.334 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.80) |
3.31 |
3.03 |
|
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|
Particulars |
|
31.12.2013 |
31.12.2012 |
|
Sales Turnover (Approximately) |
|
500.000 |
440.000 |
|
|
|
|
|
The above information has been parted by Mr. Uttam Kumar Singh.
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
(2.44)
|
14.83 |
11.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.51
|
2.48 |
5.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.10 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.23
|
2.47 |
3.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.83
|
3.26 |
4.13 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
Maturities OF LONG-TERM DEBT: NOT AVAILABLE
|
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 |
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 |
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 |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
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 |
OPERATION:
The company's operations during the year have been generally smooth. The operating profit for the year was Rs 94.323 Millions. The net loss recorded by the company for the year was Rs. 11.206 Millions. The loss is mainly due to AS-16 Para 4(e) impact on Interest on loan by Rs 72.194 Millions.
MANAGEMENT DISCUSSION
AND ANALYSIS
Industry Structure
and Developments
Subject is a joint venture between Gedeon Richter Limited. (GR) of BudapestHungary and Themis Medicare Limited (TML) India. Subject is a 100% Export Oriented unit manufacturing API intermediates and exporting maximum its production to its principals GR. The company is presently setting up an API facility which will enable the company to get into API manufacturing activity. The company is also in the process of setting up to enhance its infrastructure on research and development.
UNSECURED LOAN
(Rs.
in Millions)
|
Particulars |
As
on 31.12.2011 |
As
on 31.12.2010 |
|
Rupee term loans others unsecured |
626.450 |
551.163 |
|
Interest accrued due other debt unsecured |
0.324 |
0.320 |
|
Total |
626.774 |
551.483 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY.
FIXED ASSETS:
·
Leasehold land
·
Building
·
Plant and machinery
·
Office Equipment
·
Vehicles
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.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.