MIRA INFORM REPORT

 

 

Report Date :

09.01.2013

 

IDENTIFICATION DETAILS

 

Name :

UNIJULES LIFE SCIENCES LIMITED

 

 

Registered Office :

Shop No. 41, Manisha Plaza, Sonapur Lane, Off LBS Marg, Kurla West, Mumbai – 400072, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

16.01.2006

 

 

Com. Reg. No.:

11-158928

 

 

Capital Investment / Paid-up Capital :

Rs. 138.637 Millions

 

 

CIN No.:

[Company Identification No.]

U52311MH2006PLC158928

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMU04752G

 

 

PAN No.:

[Permanent Account No.]

AAACU8032D

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Pharmaceuticals.

 

 

No. of Employees :

Information declined by management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 3330000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having a satisfactory track record. The latest financials are not made available with the government department.

 

As per previous year, the company performance seems to be good. Financially seems to be strong. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments.

 

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.

 

 

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

Long term rating : (CRISIL) BB+

Rating Explanation

Having moderate risk of default regarding timely servicing of financial obligation.

Date

March 2011

 

 

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 DECLINED

 

MANAGEMENT NON CO-OPERATIVE

 

 

LOCATIONS

 

Registered Office :

Shop No.41, Manisha Plaza, Sonapur Lane, Off LBS Marg, Kurla West, Mumbai – 400072, Maharashtra, India

Tel. No.:

91-22-25035173

Fax No.:

Not Available

E-Mail :

unijulesbom@yahoo.co.in

info@unijules.com

alihatimh@gmail.com

compliance@unijules.com

Website :

http://www.unijules.com

Location :

Owned

 

 

Corporate  Office/ Factory 1:

Universal Square, No. 1505/1, Shanti Nagar, Nagpur – 440001, Maharashtra, India

Tel. No.:

91-712-2768512/ 6842/ 2762589

Fax No.:

91-712-2763212/ 2589

Email :

sales@revayur.com

pallavi.aloni@revayur.com

Location :

Owned

 

 

Factory 2:

B – 35, MIDC, Kalmeshwar. District, Nagpur, Maharashtra, India

 

 

Research and Development :

P - 338, Kalmeshwar MIDC, District Nagpur, Maharashtra, India

 

 

DIRECTORS

 

AS ON 29.09.2012

 

Name :

Mr. Faiz Zakir Vali

Designation :

Managing Director

Address :

Universal Pharmacy, Plot No. 545, Shantinagar, Nayapura , Nagpur - 440002 Maharashtra, India

Date of Birth/Age :

25.02.1967

Qualification :

MBA. B Pharm

Date of Appointment :

25.09.2010

PAN No.:

ABBPV9750E

DIN No.:

01809196

 

 

Name :

Mr. Dharampal Keshawdas Bellani

Designation :

Whole Time Director

Address :

Block No. 371/B, Gurunanak Nagar, Jaripatka, Nagpur - 440014, Maharashtra, India

Date of Birth/Age :

30.04.1956

Qualification :

B. Pharm

Date of Appointment :

25.09.2010

PAN No.:

ABNPB0886F

DIN No.:

01824596

 

 

Name :

Mr. Naresh Janardan Gaikwad

Designation :

Director

Address :

A2-104, Mhada Colony, Amravati Road, Nagpur – 440001, Maharashtra,  India

Date of Birth/Age :

22.12.1954

Qualification :

M. Pharm, Ph. D in Medical Sciences

Date of Appointment :

30.09.2010

DIN No.:

02185462

 

 

Name :

Mr. Vaibhav Shantaram Deshpande

Designation :

Director

Address :

F. No. 2, Plot No. 224, Gulmohar Society, Nanadavan Main Road, Nagpur – 440009, Maharashtra,  India

Date of Birth/Age :

17.07.1982

Qualification :

B. Com

Date of Appointment :

30.09.2010

DIN No.:

02725850

 

 

Name :

Mr. Veerendra VijayKumar Parashar

Designation :

Director

Address :

13-P, Bharat Nagar, Nagpur – 440033, Maharashtra,  India

Date of Birth/Age :

04.11.1940

Qualification :

M. Pharm, Ph. D in Pharmaceutical Chemistry

Date of Appointment :

30.09.2010

DIN No.:

02456416

 

 

Name :

Mr. Amit Ashok Gupta

Designation :

Director

Address :

Budhwari Reshaoli, Nagpur – 440002, Maharashtra,  India

Date of Birth/Age :

09.08.1977

Qualification :

 

Date of Appointment :

08.04.2012

DIN No.:

05206416

 

 

Name :

Mr. Gulam Abbas Hassonjee

Designation :

Director

Address :

202, Radhe Apartment, Mecosabagh, Clark Town, Nagpur – 440004, Maharashtra,  India

Date of Birth/Age :

13.04.1941

Qualification :

 

Date of Appointment :

21.08.2012

DIN No.:

00162445

 

 

KEY EXECUTIVES

 

Name :

Ms. Shilpa Pawankar

Designation :

Company Secretary

Address :

Plot No. 12, Adarsh Wadi, Amaravati Road, Nagpur – 440023, Maharashtra,  India

Date of Birth/Age :

12.06.1986

Date of Appointment :

12.01.2010

PAN No.:

BDSPP0606B

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2012

 

Names of Shareholders

 

No. of Shares

Faiz Zakir Vali

 

8313684

Nitish Shastri

 

2000

Esa Mohammad Vali

 

2000

Shehrebano Vali

 

2000

Rajeev Jidewar

 

2000

Sharmishtha U. Khobragade

 

2000

Astra Exim Private Limited, India

 

2225500

Benzo Petro International Limited, India

 

468750

Virtuous Capital Limited (Formally known as Finaventure Advisory Services (India) Limited), India

 

2781200

Pranav Financial Services Private Limited, India 

 

64516

Total

 

13863650

 

 

AS ON 29.09.2012

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Bodies corporate

 

39.96

Directors or relatives of directors

 

60.00

Other top fifty shareholders

 

0.04

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Pharmaceuticals.

 

 

Products :

ITC Code

Product Descriptions

300310

Pharmaceuticals

 

 

PRODUCTION STATUS (AS ON 31.03.2011)

 

Particulars

Unit

Actual Production

Allopathic :

 

 

Liquid (in 000)

Ltrs

3590191.70

Ointment

Kgs.

70163.72

Powder

Kgs.

8379.35

Capsulses ('000)

Nos.

10476.71

Injection :

 

 

Vials/ Ampoules

Nos

56871415.00

Herbal :

 

 

Liquid

Ltrs

437100.79

Tablets ('000)

Nos.

82037.16

Capsulses ('000)

Nos.

71590.77

Powder

Kgs.

2243211.02

 

 

GENERAL INFORMATION

 

No. of Employees :

Information declined by management

 

 

Bankers :

Ř       Bank of Maharashtra, Mid Corporate Branch Mahabank Bhavan Sitabuldi, Nagpur - 440012, Maharashtra, India

Ř       State Bank of India, Industrial Finance Branch, World Trade Centre, Cuffe  Parade, Mumbai - 400005, Maharashtra, India

Ř       The Shamrao Vithal Co-Operative Bank Limited, Yamuna Sadan, Saki Vihar Road, Sakinaka, Andheri (East),, Mumbai - 400072, Maharashtra, India

Ř       Bank of Baroda

Ř       Allahabad Bank

 

 

Facilities :

 

Secured Loans

31.03.2011

31.03.2010

 

 

(Rs. In Millions)

Rupee term loans banks secured

284.315

210.190

Rupee term loans financial institutions secured

2.138

1.158

Total

286.453

211.348

 

 

Unsecured Loans

31.03.2011

31.03.2010

 

 

(Rs. In Millions)

Other external commercial borrowings unsecured

27.946

1.040

Other debt unsecured

0.000

0.338

Total

27.946

1.378

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Husain Ali Hatim Shabbir

Chartered Accountants

Address :

315 B Ashirwad Complex, Ramdaspeth, Nagpur – 440012, Maharashtra, India

Tel. No.:

91-712-2420204

Fax No.:

91-712-2420204

Income-tax PAN of auditor or auditor's firm :

ABCPH6547G

 

 

Subsidiaries :

Ř       Zim Laboratories Limited [CIN No.: L99999MH1984PLC032172]

 

Ř       RevAyur Beauty Care India Private Limited [CIN No.: U93090MH2009PTC196258]

 

 

Associates :

Ř       Akasa Advertisement

Ř       Universal Medicaments Private Limited

Ř       Universal Pharmacy

Ř       Universal Ayurvaid

Ř       City Pharmacy

Ř       Saif Health Remedies Private Limited

Ř       Herbatone Specialities Private Limited [U24230MH1987PTC043070]

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

25000000

Equity Shares

Rs. 10/- each

Rs. 250.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

13863650

Equity Shares

Rs. 10/- each

Rs. 138.637 Millions

 

 

 

 

 


 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2011

31.03.2010

31.03.2009

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

138.637

138.637

66.974

2] Share Application Money

0.000

0.000

4.740

3] Reserves & Surplus

693.413

481.935

354.833

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

832.050

620.572

426.547

LOAN FUNDS

 

 

 

1] Secured Loans

286.453

211.348

487.530

2] Unsecured Loans

27.946

1.378

0.338

TOTAL BORROWING

314.399

212.726

487.868

DEFERRED TAX LIABILITIES

23.383

20.303

21.934

 

 

 

 

TOTAL

1169.832

853.601

936.349

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

430.642

298.132

242.365

Capital work-in-progress

157.833

38.089

0.000

 

 

 

 

INVESTMENT

33.636

30.616

30.616

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

308.766

304.922

191.428

 

Sundry Debtors

1071.959

694.667

524.516

 

Cash & Bank Balances

103.651

16.270

12.404

 

Other Current Assets

0.000

0.000

0.000

 

Loans & Advances

179.212

279.545

139.216

Total Current Assets

1663.588

1295.404

867.564

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

274.564

193.828

129.919

 

Other Current Liabilities

781.374

537.044

38.609

 

Provisions

67.667

78.863

38.219

Total Current Liabilities

1123.605

809.735

206.747

Net Current Assets

539.983

485.669

660.817

 

 

 

 

MISCELLANEOUS EXPENSES

7.738

1.095

2.551

 

 

 

 

TOTAL

1169.832

853.601

936.349

 


PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

2685.680

1982.636

1637.905

 

 

Other Income

3.586

1.138

9.543

 

 

TOTAL                                    

2689.266

1983.774

1647.448

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Consumption materials changes inventories

2097.600

1530.006

 

 

 

Manufacturing service costs

27.978

18.715

 

 

 

Employee related expenses

42.755

38.003

 

 

 

Administrative selling other expenses

107.537

98.552

 

 

 

Research development expenditure

4.616

3.586

 

 

 

TOTAL                                    

2280.486

1688.862

1442.971

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

408.780

294.912

204.477

 

 

 

 

 

Less

FINANCIAL EXPENSES                        

93.489

71.424

60.133

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

315.291

223.488

144.344

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

14.908

11.219

9.184

 

 

 

 

 

 

PRIOR PERIOD ITEMS BEFORE TAX

0.478

0.091

0.000

 

 

 

 

 

 

PROFIT BEFORE TAX

299.905

212.178

135.160

 

 

 

 

 

Less

TAX                                                                 

88.428

86.014

53.981

 

 

 

 

 

 

PROFIT AFTER TAX

211.477

126.164

81.179

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

301.472

175.308

94.129

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

512.949

301.472

175.308

 

 

 

 

 

 

Earnings Per Share (Rs.)

15.25

9.39

6.62

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)

7.86

6.36

4.93

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

11.17

10.70

8.25

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

14.32

13.31

12.18

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.36

0.34

0.32

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.73

1.65

1.63

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.48

1.60

4.20

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

SUNDRY CREDITORS DETAILS:

 

Particulars

31.03.2011

 

31.03.2010

 

31.03.2009

 

(Rs. In Millions)

Creditors due small micro enterprises

0.000

0.000

0.000

Creditors due others

274.564

193.828

129.919

Sundry creditors

274.564

193.828

129.919

 

 

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

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

BUSINESS OUTLOOK:

 

Some of the major milestones crossed during the year were,

 

Attained AYUSH certification from the Department of AYUSH, Government of India. They are the 1st company to get this mark in India and also the 1st to get it renewed. Attained DSIR recognition for their R and D infrastructure thus becoming a certified R and D house as well as being eligible for various incentives. Total Number of dossiers filed for registrations in different countries across the world has grown 3 times thus ensuring sufficient business in the future. Once again, ethical division has shown double digit growth and also expanded to markets of Orissa and M.P. and increased presence in Maharashtra and Chattisgarh which has resulted in improved YPM profile. Overall REVAYUR branding continues to expand with major markets of the South like Kerala and Tamil Nadu providing tremendous response. Market coverage other than Big Bazaars also increased drastically with product availability at new beauty stores all across the central and south of India. On the international front, major inroads were made by registrations of 10 products in 19 countries of the franco African belt, launch of Semi Solids range in the ethical market of Sri Lanka and African countries. On the injectable front, business from major institutions was obtained for the contrast media range by active participation in tenders and activation of a team of promoters. Further, other than contrast business has also stabilized thus reducing the dependency on contrast. Product development in the critical care segment has also progressed satisfactorily. After WHO certification of the injectable units, major inroads have been made into the registration of the contrast media product in semi regulated markets and business increase in this segment is expected to be a major windfall for the company.

 

On the management and infrastructure front,

 

Integrated common ERP platform has been successfully implemented on line across all locations resulting in improved reporting and efficiency in operations. Combined H.R department established for uniform implementation of policies across the group. Work on the new integrated herbal manufacturing facility was started with the capacities scheduled to come on line by March 2012. Efficiency audits conducted at the injectable plant thus improving productivity by 23 % without any capital expenses.

 

 

CONTINGENT LIABILITIES

(Rs. In Millions)

Particular

31.03.2011

Estimated amount of Unexecuted Capital contracts (Net of advance and deposits)

-

Outstanding Guarantee and Counter  guarantees to various banks, in respect of the guarantees given by those banks in favor of various government authorities and others

39.419

Claims against the company, not acknowledged as debts

-

 

 

FIXED ASSETS:

 

Ř       Land

Ř       Factory Building

Ř       Plant and Machinery

Ř       AHU

Ř       Electric Installation

Ř       Laboratory Equipments

Ř       Office Equipments

Ř       Computer Accessories

Ř       E.P.A.B.X.

Ř       Vehicles

Ř       Furniture and Fixture

Ř       Borwell

Ř       Canteen Utensils

Ř       Trade Mark



 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 55.33

UK Pound

1

Rs. 89.05

Euro

1

Rs. 72.57

 

 

INFORMATION DETAILS

 

Information Gathered by :

PJA

 

 

Report Prepared by :

BVA

 


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

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

4

--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

 

42

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.