MIRA
INFORM REPORT
|
Report Date : |
28.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
GRINDLAYS PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 406, 407 and 408, 4th Floor, Swastik Chambers, CST
Road, Chembur, Mumbai – 400071, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.09.1985 |
|
|
|
|
Com. Reg. No.: |
11-037368 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1985PTC037368 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05658C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Bulk Drugs and Intermediates. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 116000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appears huge external borrowings recorded by the company which
has increased tremendously during 2012. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings with some 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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Bank Guarantee : A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
February 21, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term loan : BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
February 21, 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.
INFORMATION PARTED BY
|
Name : |
Ms. Rupali |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-25278801 |
|
Date : |
26.02.2013 |
LOCATIONS
|
Registered/ Corporate Office : |
Office No. 406, 407 and 408, 4th Floor, Swastik Chambers, CST
Road, Chembur, Mumbai – 400071, Maharashtra |
|
Tel. No.: |
91-22-25278801-05 |
|
Fax No.: |
91-22-25974547/ 67974547/ 25278820 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No: 87,
Panvel Industrial Co-Operative Estate Limited, Panvel, District Raigad, Navi Mumbai
– 410206, Maharashtra, India |
|
Tel. No.: |
91-22-27451092/
27453093 |
|
Fax No.: |
91-22-27453093 |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Ramkrishna Harishet Kolwankar |
|
Designation : |
Managing director |
|
Address : |
Bunglow No. 6,
Zarina Park, Opposite Anushakti Bus Depot, Mankhurd (East), Mumbai – 400088,
Maharashtra, India |
|
Date of Birth/Age : |
30.08.1944 |
|
Date of Appointment : |
15.10.1985 |
|
DIN No.: |
00293905 |
|
|
|
|
Name : |
Mr. Santosh Ramkrishna Kolwankar |
|
Designation : |
Additional director |
|
Address : |
Bunglow No. 6,
Zarina Park, Opposite Anushakti Bus Depot, Mankhurd (East), Mumbai – 400088,
Maharashtra, India |
|
Date of Birth/Age : |
15.01.1977 |
|
Date of Appointment : |
16.11.2009 |
|
DIN No.: |
00293852 |
|
|
|
|
Name : |
Ms. Dhanashri Ramkrishna Kolwankar |
|
Designation : |
Director |
|
Address : |
Bunglow No. 6,
Zarina Park, Opposite Anushakti Bus Depot, Mankhurd (East), Mumbai – 400088,
Maharashtra, India |
|
Date of Birth/Age : |
12.11.1974 |
|
Date of Appointment : |
31.03.1995 |
|
DIN No.: |
00294157 |
|
|
|
|
Name : |
Mrs. Arti Ramkrishna Kolwankar |
|
Designation : |
Director |
|
Address : |
Bunglow No. 6,
Zarina Park, Opposite Anushakti Bus Depot, Mankhurd (East), Mumbai – 400088,
Maharashtra, India |
|
Date of Birth/Age : |
23.04.1951 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00300218 |
KEY EXECUTIVES
|
Name : |
Ms. Rupali |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ramkrishna Harishet Kolwankar |
|
367500 |
|
Arti Ramkrishna Kolwankar |
|
432500 |
|
Dhanashri Ramkrishna Kolwankar |
|
160000 |
|
Santosh Ramkrishna Kolwankar |
|
40000 |
|
|
|
|
|
Total |
|
1000000 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Bulk Drugs and Intermediates. |
|
|
|
|
Exports : |
|
|
Products : |
Intermediates Products |
|
Countries : |
Ø Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Bank of India, Chembur Branch, Om Building, R.C. Marg, Chembur Naka,
Mumbai – 400071, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Karia and Shah Chartered Accountants |
|
Address : |
Flat No. 9, 3rd Floor, Rajgir Sadan, Opposte Sion Railway Station, Sion (West), Mumbai – 400022, Maharashtra,
India |
|
Tel. No.: |
91-22-24044828/ 24072650 |
|
Fax No.: |
91-22-24044828 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAACG1836D |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
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 |
10.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
19.004 |
14.015 |
10.433 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
29.004 |
19.015 |
15.433 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
47.337 |
22.591 |
23.934 |
|
|
2] Unsecured Loans |
1.125 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
48.462 |
22.591 |
23.934 |
|
|
DEFERRED TAX LIABILITIES |
1.555 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
79.021 |
41.606 |
39.367 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
60.663 |
18.757 |
15.729 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.106 |
0.000 |
1.062 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.324
|
7.764 |
4.534 |
|
|
Sundry Debtors |
19.002
|
14.910 |
20.934 |
|
|
Cash & Bank Balances |
0.214
|
0.095 |
0.532 |
|
|
Other Current Assets |
3.543
|
16.258 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
7.131 |
|
Total
Current Assets |
30.083
|
39.027 |
33.131 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.175
|
9.069 |
8.029 |
|
|
Other Current Liabilities |
2.656
|
7.109 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
2.526 |
|
Total
Current Liabilities |
12.831
|
16.178 |
10.555 |
|
|
Net Current Assets |
17.252
|
22.849 |
22.576 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
79.021 |
41.606 |
39.367 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
159.883 |
127.098 |
118.283 |
|
|
|
Other Income |
14.779 |
7.944 |
1.318 |
|
|
|
TOTAL (A) |
174.662 |
135.042 |
119.601 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
129.767 |
|
|
|
|
|
Operating expenses |
12.927 |
9.887 |
|
|
|
|
Employee benefit Expenses |
5.994 |
3.825 |
|
|
|
|
Other Expenses |
4.754 |
3.377 |
|
|
|
|
TOTAL (B) |
153.442 |
123.153 |
106.224 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.220 |
11.889 |
13.377 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.986 |
2.917 |
6.509 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.234 |
8.972 |
6.868 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.251 |
3.325 |
1.763 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.983 |
5.647 |
5.105 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.994 |
2.064 |
1.685 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.989 |
3.583 |
3.420 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.99 |
7.17 |
6.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.86
|
2.65 |
2.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.37
|
4.44 |
4.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.70
|
9.77 |
10.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.30 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.67
|
1.19 |
1.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.34
|
2.41 |
3.14 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
10.175 |
9.069 |
8.029 |
|
|
|
|
|
|
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 |
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 |
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 |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Dhanashri Gudi |
0.330 |
0.000 |
|
Educator |
0.255 |
0.000 |
|
Shree Sai Krupa Farm House |
0.540 |
0.000 |
|
Total |
1.125 |
0.000 |
Note: The registered
address of the company has been shifted from Zarina Park, Opposite Anushakti
Bus Depot, Mankhurd East, Mumbai – 400088, Maharashtra, India to the present
w.e.f.01.07.2011
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U99999MH1985PTC037368 |
|
Name of the
company |
GRINDLAYS PHARMACEUTICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Office No. 406, 407 and 408, 4th Floor, Swastik Chambers,
CST Road, Chembur, Mumbai – 400071, Maharashtra, India Email: grinpharma@vsnl.net |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10129799 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Others [Current and Fixed Assets] |
|
Particular of
charge holder |
Bank of India, Chembur Branch, Om Building, R.C. Marg, Chembur Naka,
Mumbai – 400071, Maharashtra, India Email: adlalwani@rediffmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
1. Supplemental
deed of hypothecation 2. Oral assent
for extension of equitable mortgage charge (all the above
agreement constitute a single charge) |
|
Date of
instrument Creating the charge |
29.02.2012 |
|
Amount secured by
the charge |
Rs. 65.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
bank from time to time Terms of Repayment As stipulated by
bank from time to time Margin As stipulated by
bank from time to time Extent and Operation of the charge First charge
(present and future)=total limit Rs. 65.500 millions :- Fund based cash
credit (stock) Rs.3.500 millions, EPC Rs.13.500 millions (max 1+2 Rs. 13.500
millions) cash credit book debts 90 days Rs. 6.500 millions, FBP/FBD
Rs.13.500 millions)(max 3+4 Rs.13.500 millions), FBN/IBN 5.000 millions,
total FBL-WC Rs. 32.000 millions, term loan new Rs. 30.000 millions=total FBL
Rs.62.000 millions Non fund
based-letter of credit DP/DA-180 days Rs. 2.500 millions, Bank Guarantee
Rs.1.000 millions =total NFBL Rs. 3.500 millions and/or as stipulated by bank
from time to time Others As stipulated by
bank from time to time and as per sanction letter of the bank |
|
Short particulars
of the property charged |
First charge
(present and future on following assets)- 1) Equitable
mortgage of factory land and building and plant and machinery situate at Plot
No. 87, Panvel Industries Co-Operative, Estate Panvel District Raiga 2) Equitable mortgage
of Unit No 406,407 and 408,4th Floor, Swastik Chambers, CST Road, Chembur,
Mumbai-400071 3) Hypothecation
of all stock/goods/inventories/products kept at borrower
place/premises/factories/godown etc and/or wherever else and/or in transit
including brought under l.c./EPC/Bank finance 4) Hypothecation
of all book debts and receivables 5) Hypothecation
of all plant and machineries of the company 6) Hypothecation
of all current, movable and fixed assets |
|
Particulars of
the present modification |
By this
modification limit remain same Rs.65.500 Millions (fund based Rs.62.000
Millions and non fund based Rs.3.500 Millions), securities are continued as
given by original charge as well as by modification |
FIXED ASSETS
Ø Office Equipment
Ø Plant and Machinery
Ø Computer
Ø Furniture and Fixture
Ø Telephone Equipment
Ø Lab Equipment
Ø Air Conditioner
Ø Office Premises
Ø Factory Building
Ø Motor Car
Ø Residential Premises
Ø New Industrial Land
Ø Water Tank
Ø Electric Fitting
Ø Refrigerator
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. 53.84 |
|
|
1 |
Rs. 81.24 |
|
Euro |
1 |
Rs. 70.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.