MIRA
INFORM REPORT
|
Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
IDEAL CURES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Elecon Chambers, 6th Floor, Behind Sakinaka Telephone Exchange,
A. K. Road, Andheri (East), Mumbai – 400072, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.07.1988 |
|
|
|
|
Com. Reg. No.: |
11-048150 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.6.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1988PTC048150 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of Pharmaceutical Formulations and Other
Related Products. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having fair track
record. The company has achieved a better sales turnover where as the net
profitability has shown a substantial increase during 2012. Financially the
company seems to be strong and healthy. Liquidity position is good. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. The company can be considered good for 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
Elecon Chambers, 6th Floor, Behind Sakinaka Telephone
Exchange, A. K. Road, Andheri (East), Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-66764491/92/93/94/ 28501245 |
|
Fax No.: |
91-22-66764495 |
|
E-Mail : |
|
|
Website : |
http://www.idealcures.co.in http://www.pharmaranddcoater.com http://www.instaglowindia.com |
|
|
|
|
Corporate Office and R and D Centre – II : |
A-223 to A-229, 2nd Floor, Virwani Industrial Estate, Off Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-42688700 |
|
Fax No.: |
91-22-42688713 |
|
|
|
|
Factory 1 : |
Plat No.24, Sector – 2, The Vasai Taluka Industrial Co-op Society
Limited, Gauraipada, Vasai (East), Thane – 4041208, Maharashtra, India |
|
Tel. No.: |
91-250-2456701/ 702/ 703 |
|
Fax No.: |
91-250-2452954 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Suresh Rukmand Pareek |
|
Designation : |
Managing Director |
|
Address : |
B/503, Mansarover, |
|
Date of Birth/Age : |
10.04.1957 |
|
Date of Appointment : |
20.11.1998 |
|
DIN No.: |
00757066 |
|
|
|
|
Name : |
Mrs. Veena Suresh Pareek |
|
Designation : |
Director |
|
Address : |
B/503, Mansarover, |
|
Date of Birth/Age : |
03.01.1961 |
|
Date of Appointment : |
02.05.2001 |
|
DIN No.: |
00756339 |
|
|
|
|
Name : |
Mr. Shrikant Jagdish Prasad Tibrewala |
|
Designation : |
Director |
|
Address : |
504, Panchsheel, Gokuldham, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
|
Date of Birth/Age : |
22.06.1958 |
|
Date of Appointment : |
04.08.1994 |
|
DIN No.: |
00197891 |
|
|
|
|
Name : |
Mr. Ramakant Jagdish Prasad Tiberewala |
|
Designation : |
Director |
|
Address : |
603, Panchsheel, Gokuldham, Goregaon (East), Mumbai – 400063, |
|
Date of Birth/Age : |
21.09.1956 |
|
Date of Appointment : |
20.07.1994 |
|
DIN No.: |
01237898 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
(Equity Shares) |
|
|
|
Brijesh Tibrewala |
|
17500 |
|
Mahesh Tibrewala |
|
12500 |
|
Dipesh Tibrewala |
|
12500 |
|
Harsh Tibrewala |
|
12500 |
|
Suresh Pareek |
|
99900 |
|
Veena Pareek |
|
75000 |
|
Annapura Tibrewala |
|
5500 |
|
Brijesh Tibrewala HUF |
|
10000 |
|
Dipesh Tibrewala HUF |
|
3000 |
|
Harsh Tibrewala HUF |
|
9500 |
|
Jagdish Tibrewala HUF |
|
5000 |
|
Ramakant Tibrewala |
|
26000 |
|
Sushma Tibrewala |
|
9000 |
|
Shrikant Tibrewala |
|
2000 |
|
Roha Dyechem Limited |
|
75000 |
|
Suresh Pareek HUF |
|
25000 |
|
Saryu Pareek |
|
100 |
|
|
|
|
|
Total |
|
400000 |
|
Names of Shareholders |
|
No. of Shares |
|
(Preference
Shares) |
|
|
|
R. S. Global Infotech Limited |
|
20000 |
|
|
|
|
|
Total |
|
20000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
31.87 |
|
Directors or relatives of Directors |
68.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Pharmaceutical Formulations and Other
Related Products. |
PRODUCTION STATUS (As on 31.03.2012)
|
Particulars |
Unit |
Actual
Production |
|
Film Coating Systems |
Kg in (‘000) |
341.80 |
|
Polymers |
Kg in (‘000) |
51.95 |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India · Bank of Baroda, Sakinaka Branch · State Bank of India · Tamilnadu Mercantile Bank Limited · Bank of India – Tardeo Branch · Jammu and Kashmir Bank |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
Rahul Agarwal Chartered Accountant |
|
Address : |
28/A, Khandke Building No. 9 , R.K. Vaidya Road, Dadar (West), Mumbai
– 400028, Maharashtra, India |
|
PAN No.: |
ADIPA2886M |
|
|
|
|
Auditors 2 : |
|
|
Name : |
G R and
Associates (Rohit Agarwal, B.Sc., FCA/ Geeta Agarwal, B. Com, FCA) Chartered Accountant |
|
Address : |
“Shaniya Enclave”, 602, Vallabh Bhai Road, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
|
Tel No.: |
91-22-26123644 |
|
Mobile No. : |
91-9820231490/ 9892368269 |
|
Email ID : |
|
|
|
|
|
|
|
|
Subsidiary Company : |
Ideal Cures Europe – SRL |
|
|
|
|
Fellow Subsidiary : |
Roha Dychem Private Limited |
|
|
|
|
Enterprises where Key
Management Personnel or their relatives are able to exercise significant
influence |
· Saryu Life Science Private Limited · R S Global Private Limited ·
Roha Infrastructures Developments Private
Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
|
25000 |
Preference Shares |
Rs.100/- each |
Rs.2.500 Millions |
|
|
Total |
|
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000
Millions |
|
20000 |
Preference Shares |
Rs.100/- each |
Rs.2.000
Millions |
|
|
Total |
|
Rs.6.000 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 |
|
6.000 |
6.000 |
|
(b) Reserves & Surplus |
|
525.425 |
386.767 |
|
(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) |
|
531.425 |
392.767 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
116.149 |
156.158 |
|
(b) Deferred tax liabilities (Net) |
|
17.716 |
11.630 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
12.655 |
5.042 |
|
Total Non-current Liabilities (3) |
|
146.520 |
172.830 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
12.333 |
11.210 |
|
(c) Other current
liabilities |
|
35.029 |
32.866 |
|
(d) Short-term provisions |
|
7.390 |
24.543 |
|
Total Current Liabilities (4) |
|
54.752 |
68.619 |
|
|
|
|
|
|
TOTAL |
|
732.697 |
634.216 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
260.759 |
258.046 |
|
(ii) Intangible Assets |
|
0.656 |
0.000 |
|
(iii) Capital
work-in-progress |
|
1.050 |
16.105 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2.014 |
2.013 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
101.993 |
44.317 |
|
(e) Other Non-current assets |
|
1.213 |
1.026 |
|
Total Non-Current Assets |
|
367.685 |
321.507 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
2.239 |
3.315 |
|
(b) Inventories |
|
126.444 |
84.597 |
|
(c) Trade receivables |
|
183.287 |
168.004 |
|
(d) Cash and cash
equivalents |
|
53.042 |
56.793 |
|
(e) Short-term loans
and advances |
|
0.000 |
0.000 |
|
(f) Other current
assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
365.012 |
312.709 |
|
|
|
|
|
|
TOTAL |
|
732.697 |
634.216 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
6.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
304.711 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
310.711 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
45.759 |
|
|
2] Unsecured Loans |
|
|
114.104 |
|
|
TOTAL BORROWING |
|
|
159.863 |
|
|
DEFERRED TAX LIABILITIES |
|
|
6.680 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
477.254 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
244.507 |
|
|
Capital work-in-progress |
|
|
1.876 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
23.711 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
68.877
|
|
|
Sundry Debtors |
|
|
128.293
|
|
|
Cash & Bank Balances |
|
|
20.638
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
26.469
|
|
Total
Current Assets |
|
|
244.277
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
20.331
|
|
|
Other Current Liabilities |
|
|
2.094
|
|
|
Provisions |
|
|
14.692
|
|
Total
Current Liabilities |
|
|
37.117
|
|
|
Net Current Assets |
|
|
207.160
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
477.254 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
436.402 |
348.403 |
|
|
|
Other Income |
|
12.573 |
14.554 |
|
|
|
TOTAL (A) |
515.074 |
448.975 |
362.957 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Manufacturing Expenses |
|
|
155.629 |
|
|
|
Personnel Expenses |
325.210 |
294.533 |
26.126 |
|
|
|
Administrative and Selling and Distribution Expenses |
|
|
49.814 |
|
|
|
Accretion/ Decreation in Stock |
|
|
[2.987] |
|
|
|
TOTAL (B) |
325.210 |
294.533 |
228.582 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
189.864 |
154.442 |
134.375 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.306 |
15.434 |
12.663 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
168.558 |
139.008 |
121.712 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
32.533 |
29.390 |
14.648 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
136.025 |
109.618 |
107.064 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.753) |
27.445 |
17.836 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
138.778 |
82.173 |
89.228 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
386.803 |
304.747 |
215.636 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Preference Dividend |
0.100 |
0.100 |
0.100 |
|
|
|
Corporate Tax on Dividend |
0.017 |
0.017 |
0.017 |
|
|
|
Provision Year Taxes |
0.004 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
525.460 |
386.803 |
304.747 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Coating Systems |
95.181 |
63.103 |
49.389 |
|
|
|
Machine |
1.064 |
0.680 |
1.621 |
|
|
|
Polymer |
1.111 |
0.799 |
0.000 |
|
|
TOTAL EARNINGS |
97.356 |
64.582 |
51.010 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
36.785 |
15.307 |
19.380 |
|
|
TOTAL IMPORTS |
36.785 |
15.307 |
19.380 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
330.42 |
223.00 |
223.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
26.94
|
18.30 |
24.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
25.12 |
30.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.64
|
17.79 |
21.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.28 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.22
|
0.40 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.67
|
4.56 |
6.58 |
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 |
Yes |
|
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 |
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 |
No |
Note:
The registered office of the company has been shifted from 80/81, M V Road,
Sakinaka, Andheri (East), Mumbai – 400059, Maharashtra, India to present
address w.e.f. 01.12.2006
OPERATIONS:
The total profit of the company for the year March 31, 2012 is Rs. 138.778 Millions as compared to profit of Rs. 82.173 Millions for the year ended March 31, 2011.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Other Borrowings from related parties |
94.622 |
117.854 |
|
Total |
94.622 |
117.854 |
|
|
|
|
FIXED ASSETS:
· Goodwill
· Factory Land and Building
· Computers
· Electrical Installations
· Furniture and Fixtures
· Laboratory Equipments
· Office equipments
· Plant and Machinery
· 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.59.80 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.