MIRA INFORM REPORT
|
Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
BAXTER INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.183, Sector No.5, IMT Manesar, Gurgaon – 122050, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.06.1996 |
|
|
|
|
Com. Reg. No.: |
05-038528 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2289.542 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33112HR1996PTC038528 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKB03369C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB3906F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of IV Solution and Medicine. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4340000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appear huge accumulated losses in the of the company. The
company has incurred loss during the year 2012. However, trade relations are reported as fair. Business is active.
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.
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 |
|
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 : |
Plot No.183, Sector No.5, IMT Manesar, Gurgaon – 122050, Haryana,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
2nd Floor, Tower-C, Building No.8, DLF Cyber City, DLF Phase-II,
Gurgaon - 122 002, Haryana, India |
|
Tel. No.: |
91-124-4500200 |
|
Fax No.: |
91-124-4500240/ 4263505 |
|
|
|
|
Factory 1 : |
B-15/2, MIDC Area, Waluj, Aurangabad - 431136, Maharashtra, India |
|
Tel. No.: |
91-240-2552733/ 2563125 |
|
|
|
|
Factory 2 : |
Also Located at:
|
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Akshay Nanda |
|
Designation : |
Whole Time Director |
|
Address : |
D-603, Som Vihar, R.K. Puram, Delhi -110022, India |
|
Date of Birth/Age : |
21.12.1965 |
|
Qualification : |
B. Com, MBA and CA |
|
PAN No.: |
ABVPN9371R |
|
Date of Appointment : |
29.09.2006 |
|
DIN No.: |
00765224 |
|
|
|
|
Name : |
Mr. Anish Vanraj Bafna |
|
Designation : |
Managing Director |
|
Address : |
Apartments No. K-0106 at Central Park -1 Golf Course Road, Gurgon –
122002, Haryana India |
|
Date of Birth/Age : |
07.06.1969 |
|
Qualification : |
B Sc., MBA |
|
PAN No.: |
AISPB9365K |
|
Date of Appointment : |
25.01.2010 |
|
DIN No.: |
02925792 |
|
|
|
|
Name : |
Mr. Ongmu Gombu |
|
Designation : |
Director |
|
Address : |
MA 1/7 3B Garden Estate, Gurgon – 122002, Haryana India |
|
Date of Birth/Age : |
02.05.1971 |
|
Qualification : |
PG Dipl in PM and IR |
|
PAN No.: |
ACMPG6047R |
|
Date of Appointment : |
23.04.2010 |
|
DIN No.: |
03034728 |
|
|
|
|
Name : |
Mr. Manu Bhardwaj |
|
Designation : |
Director |
|
Address : |
C-4-C-054, Carlton Estate 4, DLF City Phase – 5, Gurgaon – 122009,
Haryana, India |
|
Date of Birth/Age : |
15.03.1967 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
05344433 |
KEY EXECUTIVES
|
Name : |
Ms. Shalu Goel |
|
Designation : |
Secretary |
|
Address : |
534A, Sector 3, R.K Puram, New Delhi – 110022, India |
|
Date of Birth/Age : |
27.02.1978 |
|
Date of Appointment : |
01.12.2011 |
|
PAN No.: |
AJDPG7208E |
|
|
|
|
Name : |
Mr. Subhash Vashisht |
|
Designation : |
Head of PRJ of I/Sea Renal Exp |
|
|
|
|
Name : |
Mr. Rohit Khetarpal |
|
Designation : |
Plant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Baxter Pacific Investments Pte Limited, Singapore |
|
228954157 |
|
Baxter Healthcare (Asia) Pte Limited, Singapore |
|
1 |
|
|
|
|
|
Total |
|
228954158 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of IV Solution and Medicine. |
|
|
|
|
Imports : |
|
|
Products : |
Plastic |
|
Countries : |
|
PRODUCTION STATUS (As on: 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
|
CAPD Bags |
|
|
|
Manesar, Haryana |
NA |
11.9 Million Bags |
|
IV Fluids |
|
|
|
Waluj, Maharashtra |
NA |
41 Million Bottles |
|
Alathur, Tamilnadu |
NA |
38.4 Million Bottles |
|
Manesar, Haryana |
NA |
5.5 Million Bags of 2 litres equivalent |
|
Particulars |
Actual
Production |
|
CAPD Bags |
9396249 |
|
IV Fluids Bags / Bottles |
82848751 |
* As certified by the management and accepted by the auditors, being a technical matter
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Standard Chartered Bank, Parliament Street, New Delhi, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Building No. 8, 7th and 8th Floor, Tower B, |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Immediate Holding
Company : |
Baxter Pacific Investment Pte. Limited |
|
|
|
|
Ultimate Holding
Company : |
Baxter International Inc |
|
|
|
|
Fellow Subsidiary
Company : |
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.10/- each |
Rs.2500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
228954158 |
Equity Shares |
Rs.10/- each |
Rs.2289.542
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 |
2289.542 |
2289.542 |
2289.542 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1203.928) |
(1019.851) |
(981.973) |
|
|
NETWORTH |
1085.614 |
1269.691 |
1307.569 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2313.794 |
1784.306 |
896.818 |
|
|
TOTAL BORROWING |
2313.794 |
1784.306 |
896.818 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3399.408 |
3053.997 |
2204.387 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1369.120 |
1418.662 |
1033.884 |
|
|
Capital work-in-progress |
1006.211 |
741.288 |
552.706 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
70.676 |
74.936 |
74.569 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1030.902
|
818.303 |
914.209 |
|
|
Sundry Debtors |
457.733
|
323.431 |
332.731 |
|
|
Cash & Bank Balances |
661.758
|
555.439 |
472.820 |
|
|
Other Current Assets |
3.792
|
2.737 |
0.829 |
|
|
Loans & Advances |
234.344
|
270.153 |
176.958 |
|
Total
Current Assets |
2388.529
|
1970.063 |
1897.547 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1094.872
|
830.671 |
1091.101 |
|
|
Other Current Liabilities |
236.279
|
230.236 |
132.631 |
|
|
Provisions |
103.977
|
90.045 |
130.587 |
|
Total
Current Liabilities |
1435.128
|
1150.952 |
1354.319 |
|
|
Net Current Assets |
953.401
|
819.111 |
543.228 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3399.408 |
3053.997 |
2204.387 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
|
|
1860.594 |
|
|
|
Manufacturer finished goods |
|
|
40.004 |
|
|
|
Exchanged Gain |
|
|
67.147 |
|
|
|
Other Income |
41.614 |
45.203 |
107.385 |
|
|
|
TOTAL (A) |
4413.200 |
3859.807 |
2075.130 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Cost |
|
|
1113.692 |
|
|
|
Cost of Sales |
|
|
935.088 |
|
|
|
Exchange Loss |
|
|
0.000 |
|
|
|
Administrative Expenses |
|
|
332.518 |
|
|
|
Personal Expenses |
|
|
527.845 |
|
|
|
Selling Expense |
|
|
356.792 |
|
|
|
Increase/ Decrease is stock |
|
|
(1481.581) |
|
|
|
TOTAL (B) |
4536.681
(Including Financial Expense and
Depreciation) |
3908.353
(Including Financial Expense and
Depreciation) |
1784.354 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
290.776 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
5.470 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
|
|
285.306 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
496.512 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(123.481) |
(48.546) |
(211.206) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
60.595 |
(10.668 |
27.903 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(184.076) |
(37.878) |
(239.110) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1019.851) |
(981.973) |
(742.863) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1203.927) |
(1019.851) |
(981.973) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
664.208 |
538.847 |
608.639 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.80) |
(0.17) |
(1.04) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(4.17) |
(0.98) |
(11.52) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.82) |
(1.27) |
(11.35) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.29) |
(1.43) |
(7.20) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.11) |
(0.04) |
(0.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.13 |
1.41 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66 |
1.71 |
1.40 |
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) |
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 |
OPERATIONS
a) During the year the Company has recorded Loss before tax (LBT) of Rs.123.400 Millions after considering an amortization/depreciation charge of Rs.228.600 Millions. In the previous year the company had recorded LBT of Rs. 48.500 Millions after considering an amortization/depreciation charge of Rs.213.300 Millions.
b) The company has lost significantly on account of foreign exchange loss, due to rupee depreciation against USD and Yen, which resulted in foreign exchange loss on the outstanding Intercompany Loan.
c) During the year company focused on improving the realizations and profitability in all its GBUs/Business Segments through a combination of price/realization improvement and volume drivers
Bioscience Business The GBU posted a 24%growth in top line (from Rs. 820.000 Millions to Rs. 1020.400 Millions) and 27% increase in bottom line (from Rs. 154.600 Millions to Rs. 196.300 Millions). The growth in this segment was mainly fuelled by increase in volume which contributed to about 62%of the total growth of Bio business while the balance 38% was on account of increase in prices. The growth is mainly driven by products Hemofil_M Low, Immunize and Ruminate which comprise 42% of turnover of this GBU in FY 2011_12.
Renal The Renal business posted a growth in towline of 17% over previous year (from Rest. 13,216 lakes to Rest. 15,428 lakes) and20% increase in bottom line (from Rs. 85.600 Millions to Rs. 102.800 Millions). The main driver of growth in this segment has been increase in prices over previous year particularly due to upward revision of prices of exported products. The export turnover from Thailand has increased by 36% from Rs. 447.400 Millions to Rs. 607.200 Millions leading the overall growth of the GBU. Medication Delivery the Medication Delivery GBU has posted a 8%top line growth from Rs. 1614.900 Millions to Rs. 1747.500 Millions, mainly through overall upward price revision of around 10 _ 15% in FFS business. The bottom line has increased from Rs.52.100 Millions to Rs. 183.300 Millions year on year.
d) The company has completed investment of Rs.1200.000 Millions as of 31st March, 2012, at its Manesar facility. The company has also planned an investment of Rs.1100.00 Millions in the Waluj Facility for meeting the Indian and South East Asia Demand for renal business. The Waluj Expansion is also expected to be completed by Year 2013.
e) The company looks forward to further enhancing and consolidating its market share by leveraging its strong product portfolio and introduction of new products and improving margins in the Renal, Medication Delivery and Bio_Sciences business segments. These three businesses continue to be the drivers for growth.
Composition of
Business Segments
1) Renal -- The Segment manufactures and supplies Dialysis related products including equipments, disposables and pharmaceuticals along with services designed to improve medical outcomes for renal patients.
2) Biosciences -- The Segment markets therapeutic proteins derived from human plasma or recombinant technology to treat haemophilia, immune deficiencies and other blood related disorders.
3) Medication Delivery --The Segment manufactures and supplies a range of products that delivers fluids, drugs and medications to patients.
4) Others -- Includes service income pertaining to services provided to group companies.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Deferred sales tax loan |
113.027 |
119.749 |
|
Loans and advances from related parties |
2200.767 |
1664.557 |
|
|
|
|
|
Total |
2313.794 |
1784.306 |
CONTINGENT
LIABILITIES
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Claims against the
company not acknowledged as debt |
|
|
|
Demand from Custom Authorities, pending with Supreme Court |
2.738 |
2.738 |
|
Demand for Service Tax on Mark Up Income and reimbursements received in Foreign Currency pending with Commissioner, Service Tax |
27.996 |
29.665 |
|
Demand for Cenvat Credit wrongly utilized, pending with Commissioner of Central Excise, Custom and Service Tax |
102.387 |
102.387 |
|
Income Tax demand being contested in Appeal pertaining to Assessment year 2006_07 |
45.780 |
45.780 |
|
Income Tax Demand being contested in Appeal pertaining to Assessment Year 2007_08 |
10.109 |
10.109 |
|
Income tax demand, being contested with Commissioner of Income Tax (Appeals) pertaining to Assessment Year 2008_09 |
3.691 |
-- |
|
Outstanding Bank Guarantees |
4.011 |
4.011 |
NOTES:
(a) The demand from custom authorities is for the classification issue and the same is pending at Supreme Court. In the opinion of the legal counsel of the Company, the Company has a strong arguable case against the department.
(b) The Company is contesting before various appellate authorities, the demands raised by Income Tax authorities for payment of Income Tax on account of certain additions made to the taxable income during the course of assessment. The management believes that on the basis of its assessment and considering the advice of its tax advisors representing the Company before the appellate authorities, it is more likely than not that there would be no additional outflow of resources against these demands.
FIXED ASSETS
Tangible Assets
- Land
- Factory Building
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
- Leasehold Improvements
Intangible Assets
- Goodwill
- Computer Software
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 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.56.57 |
|
|
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.73.64 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.