MIRA INFORM REPORT
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Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
GVK BIOSCIENCES PRIVATE LIMITED |
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Registered
Office : |
Plot No.28 A, IDA Nacharam, Hyderabad-500 076, Andhra Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
01-35826 |
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Com. Reg. No.: |
07.12.2000 |
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Capital
Investment / Paid-up Capital : |
Rs.165.450
Millions |
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CIN No.: [Company Identification
No.] |
U74999AP2000PTC035826 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDG00774E |
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PAN No.: [Permanent Account No.] |
AABCG3208J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Provide contract research services to base of global
pharmaceutical and biotechnology companies. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10000000 |
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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.
The latest financial are not made available with the government department. As per previous year’s, the company financial position seems to be
strong. Performance capability is high. Liquidity position is good.
Fundamentals are healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered for normal 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A+ (Long term rating) |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligation. It carry low credit risk. |
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Date |
April 2012 |
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 : |
Plot No.28 A, IDA Nacharam, Hyderabad-500 076, |
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Tel. No.: |
91-40-66929999 |
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Fax No.: |
91-40-66929900 |
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E-Mail : |
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Website : |
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Administrative Offices
: |
7th Floor, Swarna Jayanthi Commercial Complex, Ameerpeet, |
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Tel No: |
91-40-66628888 / 66635555 |
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Overseas Offices: |
Located
At: ·
·
US |
DIRECTORS
As on: 05.07.2012
|
Name : |
Mr. Davinder Singh Brar |
|
Designation : |
Chairman |
|
Address : |
Greenfields Farm, Gadalpur- Jaunapur road, Village, Jaunapur, Tehsil-
Mehrauli, New Delhi-110 030, Delhi, India |
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Date of Birth : |
21.08.1952 |
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Date of Appointment : |
26.07.2004 |
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Name : |
Mr. Gunapati Venkata Sanjay Reddy |
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Designation : |
Director |
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Address : |
H No.6-3-1089/A/5, |
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Date of Birth : |
16.11.1964 |
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Date of Appointment : |
07.12.2000 |
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Name : |
Mr. Gunapati Indira Krishna Reddy |
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Designation : |
Director |
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Address : |
H No.6-3-250, Road No.1, Banjara Hills, Hyderabad-500034, |
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Date of Birth : |
17.10.1944 |
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Date of Appointment : |
07.06.2002 |
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Name : |
Professor Tarun Khanna |
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Designation : |
Director |
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Address : |
66, Druid Hill Road, Newton-02461, |
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Date of Birth : |
09.05.1966 |
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Date of Appointment : |
19.06.2009 |
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Name : |
Mr. Gerhard Mayr |
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Designation : |
Director |
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Address : |
95, |
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Date of Birth : |
05.12.1946 |
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Date of Appointment : |
21.07.2009 |
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Name : |
Mr. Krishna Ram Bhupal |
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Designation : |
Director |
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Address : |
House No.6-3-250/1, Road No.1, Banjara Hills, Hyderabad-400 018, |
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Date of Birth : |
16.03.1983 |
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Date of Appointment : |
20.10.2009 |
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Name : |
Mr. Ahay Kumar Pandey |
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Designation : |
Alternate Director to Sandeep Singhal |
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Address : |
1402 Purna, |
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Date of Birth : |
01.12.1971 |
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Date of Appointment : |
21.07.2009 |
KEY EXECUTIVES
|
Name : |
Mr. K. Ramkrishna |
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Designation : |
Company Secretary |
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Address : |
505, Saipriya Apartments, LIC Colony, Gudimalkapur, Hyderabad-500 028,
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Date of Birth : |
09.03.1968 |
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Date of Appointment : |
06.12.2007 |
MAJOR SHAREHOLDERS
As on: 05.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
G. V. Sanjay Reddy |
|
978750 |
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G. V. Krishna Reddy |
|
407814 |
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G. Indira K Reddy |
|
407811 |
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Shalini Bhupal |
|
407811 |
|
G. Aparna Reddy |
|
652500 |
|
GVK Davix Technologies Private Limited, |
|
8475000 |
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Devinder singh Brar |
|
3262500 |
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Sequoia Capital |
|
1545000 |
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Shriya Bhupal |
|
203907 |
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|
203907 |
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Total |
|
16545000 |
Equity Share Break up (Percentage of Total Equity)
As on: 05.07.2012
|
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 |
9.34 |
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Bodies corporate |
51.22 |
|
Directors or relatives of Directors |
39.44 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide contract research services to base of global pharmaceutical
and biotechnology companies. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Walker, Chandiok and Company Chartered Accountants |
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Address : |
3rd Floor, Uptown Banjara, Road No. 3, Banjara Hills,
Hyderabad-500 034, |
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Tel. No.: |
91-40-64528666 |
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Fax No.: |
91-40-23540224 |
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E-Mail : |
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PAN.: |
AAAFW4298E |
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Holding Company : |
GVK Davix Technologies Private Limited (GVK Davix) CIN No.: U72200AP2005PTC045481 |
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Subsidiary : |
GVK Biosciences Pte Limited |
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Associate : |
Inogent Laboratories Private Limited (Inogent) |
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Joint venture : |
INC GVK Bio Private Limited (INC GVK) |
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Fellow subsidiary : |
GVK Biosciences Inc (GVK Bio-Inc) |
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Companies under the
same management : |
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Enterprise having
significant influence over the Company : |
Sequoia Capital India Growth Investment Holdings I |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
16545000 |
Equity Shares |
Rs.10/- each |
Rs.165.450
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
165.450 |
165.450 |
165.450 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
2471.465 |
2207.685 |
1892.090 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2636.915 |
2373.135 |
2057.540 |
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|
LOAN FUNDS |
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1] Secured Loans |
388.584 |
562.507 |
691.044 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
388.584 |
562.507 |
691.044 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3025.499 |
2935.642 |
2748.584 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1308.307 |
1354.059 |
1364.038 |
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Capital work-in-progress |
302.611 |
225.737 |
181.393 |
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INVESTMENT |
206.985 |
182.485 |
221.459 |
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|
DEFERREX TAX ASSETS |
11.305 |
4.405 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
22.160
|
21.177 |
24.939 |
|
|
Sundry Debtors |
474.021
|
552.921 |
535.367 |
|
|
Cash & Bank Balances |
382.086
|
365.013 |
288.628 |
|
|
Other Current Assets |
9.743
|
4.971 |
3.685 |
|
|
Loans & Advances |
658.132
|
527.422 |
402.608 |
|
Total
Current Assets |
1546.142
|
1471.504 |
1255.227 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
226.311
|
178.048 |
158.972 |
|
|
Other Current Liabilities |
71.856
|
80.428 |
78.056 |
|
|
Provisions |
51.684
|
44.071 |
36.505 |
|
Total
Current Liabilities |
349.851
|
302.547 |
273.533 |
|
|
Net Current Assets |
1196.291
|
1168.957 |
981.694 |
|
|
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|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3025.499 |
2935.642 |
2748.584 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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|
SALES |
|
|
|
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|
|
|
|
2556.641 |
2326.628 |
2126.841 |
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Other Income |
|
|
48.628 |
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|
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TOTAL (A) |
2556.641 |
2326.628 |
2175.469 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
|
1971.448 |
1701.172 |
482.971 |
|
|
|
Personnel Expenses |
|
|
585.882 |
|
|
|
General and administrative Expense |
|
|
545.101 |
|
|
|
TOTAL (B) |
1971.448 |
1701.172 |
1613.954 |
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|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
585.193 |
625.456 |
561.074 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
26.237 |
44.724 |
59.212 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
558.956 |
580.732 |
501.862 |
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|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
272.154 |
236.536 |
209.872 |
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|
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|
|
PROFIT BEFORE TAX
(E-F) (G) |
286.802 |
344.196 |
292.431 |
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|
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Less |
TAX (H) |
3.148 |
11.802 |
40.401 |
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|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
283.654 |
332.394 |
252.030 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1215.324 |
914.391 |
695.718 |
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|
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|
|
|
|
|
|
Adjustment
for change in accounting policy |
0.000 |
0.000 |
(14.000) |
|
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|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
7.091 |
8.310 |
0.000 |
|
|
|
Dividend Tax |
0.000 |
0.000 |
2.812 |
|
|
|
Profit available for distribution |
1491.887 |
1238.475 |
0.000 |
|
|
|
Proposed Dividend |
23.075 |
23.151 |
16.545 |
|
|
BALANCE CARRIED
TO THE B/S |
1468.812 |
1215.324 |
914.391 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2144.328 |
1972.705 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
|
|
|
|
|
|
As Reported |
17.14 |
20.09 |
15.23 |
|
|
|
Proforma |
17.14 |
20.07 |
-- |
|
|
|
Diluted |
|
|
|
|
|
|
As Reported |
16.98 |
19.93 |
15.23 |
|
|
|
Proforma |
16.98 |
19.90 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.09
|
14.29 |
11.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
13.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.05
|
12.18 |
11.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.15 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15
|
0.24 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.42
|
4.86 |
4.59 |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE:
During the year, the Company achieved a turnover of Rs. 2556.641 Millions, recording a growth of 9.9% over the previous year and generated Profits after tax of Rs. 283.654 Millions. Revenues have grown in both the Discovery and Development business segments of the Company signifying stability and potential for growth as the market emerges out of the slowdown witnessed in 2009 and early 2010. The Company has strengthened its relationships with its existing clients and added several new clients during the year.
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U74999AP2000PTC035826 |
|
Name of the
company |
GVK BIOSCIENCES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.28 A, IDA Nacharam, Hyderabad-500 076, Andhra Pradesh, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10013686 |
|
Type of charge |
|
|
Particular of
charge holder |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai-400021, Maharashtra, India (w.ef.29.01.2001) |
|
Nature of
instrument creating charge |
Supplemental Deed of Hypothecation. |
|
Date of
instrument Creating the charge |
17.05.2011 |
|
Amount secured by
the charge |
Rs.240.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest is as mutually agreed between the bank and the borrower at the time of disbursement. the interest shall be debited to current account of the borrower on effective monthly basis Terms of Repayment CC/LC/BC- Revolving in nature,subject to review conducted by the Bank and shall be at the sole discretion of Bank and Tenor for LC/BC is Max 180 days. EPC/PCFC- The liquidation shall be out of export realizations only WCDL- WCDL tranche shall be repaid by debit to current account of the Borrower. All facilities being repayable on demand and on such other conditions as amended from time to time Margin For CC and WCDL-25% on stock and 25% on book debts. For LC-10% cash margin in the form of FD with the Bank. And such other conditions as amended from time to time Extent and
Operation of the charge First Pari-passu charge on entire current assets of the borrower, both present and future. Second Pari-passu on entire movable fixed assets of the Borrower both present and future. Joint mortgage of leasehold land at Plot 280-A, Bommasandra, Anekal Taluk, Bangalore. Others Nature of Facilities Rs. in. Millions CC 140.000 WCDL (140.000) EPC (140.000) PCFC / EPC (140.000) LC 100.000 Buyer's Credit (100.000) --------------- Total 240.000 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Pari Passu charge on the entire present and future Current Assets of the Company at Hyderabad or wherever situated, Second Pari Passu charge on the moveable Fixed Assets both present and future of the Company pertaining to the units at Hyderabad or wherever situated Joint mortgage of leasehold land at Plot 280-A, Bommasandra, Anekal Taluk, Bangalore. |
|
Date of
instrument modifying the charge |
10.03.2010 |
|
Particulars of
the present modification |
By the present modification, the overall limit has been enhanced from Rs.190.000 Millions to Rs.240.000 Millions and secured by the entire present and future Current Assets and movable Fixed Assets belonging to the Company as per clause 15 (i) and (ii). Charge on immovable property continues as is. |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Laboratory Equipment
·
Computer
·
Air conditioner
·
Office Equipment
·
Vehicle
·
Leasehold Improvement
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.52.97 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.72.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.