MIRA INFORM REPORT
|
Report Date : |
02.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIGMA LABORATORIES LIMITED (w.e.f. 01.07.2000) |
|
|
|
|
Formerly Known
As : |
SIGMA LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
43 (South), R A Kidwai Road, Wadala, Mumbai-400031, Maharashtra. |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.03.1987 |
|
|
|
|
Com. Reg. No.: |
11-043007 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 170.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85195MH1987PLC043007 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS23276B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS4404L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of Pharmaceutical Products. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 290000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears to be some accumulated losses recorded by the company. However, trade
relations are fair. Payments are reported to be slow. 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.
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 BY
Management non co-operative
LOCATIONS
|
Registered Office : |
43 (South), R A Kidwai Road, Wadala, Mumbai-400031, Maharashtra, India |
|
Tel. No.: |
91-22-24181609 |
|
Fax No.: |
91-22-24164250 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
6,7,8, Tivim Industrial Estate, Mafsa, Goa, Maharashtra, India |
|
Location : |
Owned |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mr. Dilip Shrinivas Coulagi |
|
Designation : |
Director |
|
Address : |
43 (South), R A Kidwai Road, Wadala, Mumbai-400031, Maharashtra, India |
|
Date of Birth/Age : |
15.06.1943 |
|
Date of Appointment : |
22.04.2010 |
|
PAN No: |
AAFPC6564J |
|
DIN No.: |
00557172 |
|
|
|
|
Name : |
Mr. Gunvantrai Amritlal Sanghrajka |
|
Designation : |
Director |
|
Address : |
E1, Breachcandy Apartments, Bhulabhai Desai Road, Mumbai-400025,
Maharashtra, India |
|
Date of Birth/Age : |
21.10.1935 |
|
Date of Appointment : |
20.03.2003 |
|
DIN No.: |
00322600 |
|
|
|
|
Name : |
Mr. Ramesh Govindrao Kulkarni |
|
Designation : |
Director |
|
Address : |
9, Nirvana, 5th Floor, Junction of 24th and 30th
Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
27.09.1930 |
|
Date of Appointment : |
08.09.2009 |
|
DIN No.: |
02789427 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Dilip S. Coulagi |
8588910 |
|
Sharayu S. Coulagi |
109970 |
|
Tejus D Coulagi |
20 |
|
Nayana D Coulagi |
501010 |
|
Kavita D Coulagi |
20 |
|
Priya D Coulagi |
20 |
|
Sushama S Coulagi |
50 |
|
Industrial Development Bank of India |
800000 |
|
TOTAL
|
10000000 |
|
Names of Shareholders (8% Optionally Convertible / Redeemable
Cumulative Preference Shares) |
No. of Shares |
|
Dilip S. Coulagi |
500000 |
|
Nayana D Coulagi |
200000 |
|
TOTAL |
700000 |
AS ON 27.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Public financial
companies |
8.00 |
|
Directors or relatives of Directors |
92.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Pharmaceutical Products. |
|
|
|
|
Products : |
Ø Calcitab Ø Loracler
Hayfever Ø Duoflam Gel |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Tablet |
Lac |
1200.00 |
1200.00 |
875.774 |
|
Ointments |
Nos. in Lac |
36.000 |
3.00 |
68.007 |
|
Syrup |
In 000 liters |
-- |
-- |
32.148 |
|
Ampoules and Vials |
In Lac |
-- |
-- |
16.274 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Paranjape and Paranjpe Chartered Accountant |
|
Address : |
4, Jayram Niwas Cooperative Housing Society, 116, Tilak Mandir Road, Vile
Parle (East), Mumbai-400057, Maharashtra, India |
|
PAN No.: |
AAAFP2179H |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13000000 |
Equity Shares |
Rs.10/- each |
Rs. 130.000 Millions |
|
700000 |
8% Optionally Convertible / Redeemable
Cumulative Preference Shares |
Rs.100/- each |
Rs. 70.000 Millions |
|
|
TOTAL |
|
Rs. 200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000
Millions |
|
|
700000 |
8% Optionally Convertible / Redeemable
Cumulative Preference Shares |
Rs.100/- each |
Rs. 70.000 Millions |
|
|
|
TOTAL |
|
Rs. 170.000 Millions |
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
170.000 |
170.000 |
|
(b) Reserves & Surplus |
|
(96.424) |
(95.032) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
73.576 |
74.968 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
4.370 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
4.370 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
68.606 |
81.000 |
|
(b) Trade payables |
|
12.345 |
12.454 |
|
(c) Other current
liabilities |
|
11.526 |
10.870 |
|
(d) Short-term
provisions |
|
11.494 |
10.940 |
|
Total Current
Liabilities (4) |
|
103.971 |
115.264 |
|
|
|
|
|
|
TOTAL |
|
181.917 |
190.232 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
101.966 |
108.606 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.081 |
0.081 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
102.047 |
108.687 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
16.141 |
14.445 |
|
(c) Trade receivables |
|
23.510 |
27.637 |
|
(d) Cash and cash
equivalents |
|
3.242 |
8.880 |
|
(e) Short-term loans
and advances |
|
36.977 |
30.583 |
|
(f) Other current
assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
79.870 |
81.545 |
|
|
|
|
|
|
TOTAL |
|
181.917 |
190.232 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
170.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1.197 |
|
|
4] (Accumulated Losses) |
|
|
(176.014) |
|
|
NETWORTH |
|
|
(4.817) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
183.158 |
|
|
TOTAL BORROWING |
|
|
183.158 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
178.341 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
111.256 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.099 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
10.206
|
|
|
Sundry Debtors |
|
|
55.939
|
|
|
Cash & Bank Balances |
|
|
5.676
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
29.844
|
|
Total
Current Assets |
|
|
101.665 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
15.260
|
|
|
Other Current Liabilities |
|
|
13.756
|
|
|
Provisions |
|
|
5.663
|
|
Total
Current Liabilities |
|
|
34.679 |
|
|
Net Current Assets |
|
|
66.986
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
178.341 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
88.646 |
82.609 |
123.390 |
|
|
|
Other Income |
15.920 |
95.678 |
13.891 |
|
|
|
TOTAL (A) |
104.566 |
178.287 |
137.281 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
23.412 |
26.695 |
106.511 |
|
|
|
Purchases of stock-in-trade |
0.080 |
0.000 |
|
|
|
|
Employee benefit expense |
32.559 |
25.592 |
|
|
|
|
Other expenses |
38.497 |
38.250 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(0.329) |
(4.571) |
|
|
|
|
TOTAL (B) |
94.219 |
85.966 |
106.511 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.347 |
92.321 |
30.770 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.739 |
12.536 |
13.396 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(1.392) |
79.785 |
17.374 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(1.392) |
79.785 |
17.374 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(96.229) |
(176.014) |
(193.388) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(97.621) |
(96.229) |
(176.014) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
79.340 |
93.894 |
|
|
|
Recovery of Freight and Insurance |
NA |
3.270 |
8.578 |
|
|
TOTAL EARNINGS |
NA |
82.610 |
102.472 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
1.004 |
2.120 |
|
|
TOTAL IMPORTS |
NA |
1.004 |
2.120 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.13) |
7.46 |
1.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(1.33)
|
(44.75) |
12.66
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.57)
|
(96.58) |
14.08
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.77)
|
(41.96) |
8.16
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02)
|
(1.06) |
(3.61)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.93
|
1.08 |
(38.02)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.77
|
0.71 |
2.93
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
68.606 |
81.000 |
|
|
|
|
|
TOTAL |
68.606 |
81.000 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
12.345 |
12.454 |
15.260 |
|
TOTAL |
12.345 |
12.454 |
15.260 |
BACKGROUND
The Company was
incorporated on 13TH March, 1987 to manufacture and market its own
pharmaceutical products in domestic and overseas markets. Currently, the
company is engaged in exporting its products in international markets.
OPERATIONS AND
OUTLOOK
As expressed in
last year’s report, the figures for the year and the earlier year are not
comparable as there was a very substantial exceptional one time item in the
earlier year which boosted other income and profits. Absent such an item, this
year’s operations show a modest loss.
The sales have
gone up marginally, and with efforts continuing for registration of more
products in existing and new markets, sales will continue to go up, but in the
current year, the picture is clouded due to the loss of subleasing income,
which will reduce other income substantially , which may lead to a loss again,
despite good rise in sales.
However, the
operations of the Company are likely to produce positive cash flow in view of
the very substantial depreciation. Depending on product registrations, large
capital expenditure might be required in the near future, though this is likely
to arise in the next financial year rather than the current one, and will
require borrowing funds from the bank, with concomitant financial cost outflow
with the contribution from new registrations coming in with a lag in time; this
will have to be reduced to a minimum as also various economy measures and cost
reductions will
be needed; these are being pursed vigorously.
FORM 8
|
Corporate
identity number of the company |
U85195MH1987PLC043007 |
|
Name of the
company |
SIGMA
LABORATORIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
43 (South), R A Kidwai Road, Wadala, Mumbai-400031, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Letter of
Hypothecation. |
|
Date of
instrument Creating the charge |
22.11.2012 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of repayment On demand. Margin As may be stipulated
by the Bank from time to time. Extent and operation of the charge Hypothecation by
way of First Charge on Stocks and Book Debts to secure as a continuing
security as for the repayment of Rs.20.000 Millions together with interest,
costs, charges, expenses and other moneys due and payable by the Company to
the Bank. |
|
Short particulars
of the property charged (Including location of the property) |
Stock-in-trade,
consisting of raw materials, goods in process of manufacturing finished
goods, and other merchandise whatsoever being movable properties, now All the Debts,
that is, all the book debts, out standings, monies receivables, claims, bills, invoice documents, contracts,
guarantees, and rights which are now |
FIXED ASSETS
- Land –
Leasehold
- Buildings
- Plant and
Machinery
- Furniture and
Fittings
- 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 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. 59.14 |
|
|
1 |
Rs. 90.05 |
|
Euro |
1 |
Rs. 77.06 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.